4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 14,660 7,630 1,055 8,685 5,975 7,030 3,122,661 257,661 2,865,000 2,865,000 xbrli:pure xbrli:shares iso4217:GBP 02014018 2023-01-01 2023-12-31 02014018 2023-12-31 02014018 2022-12-31 02014018 2022-01-01 2022-12-31 02014018 2022-12-31 02014018 2021-12-31 02014018 core:FurnitureFittings 2023-01-01 2023-12-31 02014018 bus:Director2 2023-01-01 2023-12-31 02014018 core:FurnitureFittings 2022-12-31 02014018 core:FurnitureFittings 2023-12-31 02014018 core:WithinOneYear 2023-12-31 02014018 core:WithinOneYear 2022-12-31 02014018 core:ShareCapital 2023-12-31 02014018 core:ShareCapital 2022-12-31 02014018 core:RetainedEarningsAccumulatedLosses 2023-12-31 02014018 core:RetainedEarningsAccumulatedLosses 2022-12-31 02014018 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 02014018 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-12-31 02014018 core:Non-currentFinancialInstruments 2023-12-31 02014018 core:Non-currentFinancialInstruments 2022-12-31 02014018 core:FurnitureFittings 2022-12-31 02014018 bus:SmallEntities 2023-01-01 2023-12-31 02014018 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02014018 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02014018 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02014018 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 02014018
Obsan Limited
Filleted Unaudited Financial Statements
31 December 2023
Obsan Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
5,975
7,030
Investments
6
2,865,000
2,865,000
------------
------------
2,870,975
2,872,030
Current assets
Debtors
7
15,181
16,321
Cash at bank and in hand
106,619
104,194
---------
---------
121,800
120,515
Creditors: amounts falling due within one year
8
59,749
80,163
---------
---------
Net current assets
62,051
40,352
------------
------------
Total assets less current liabilities
2,933,026
2,912,382
------------
------------
Net assets
2,933,026
2,912,382
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
2,932,926
2,912,282
------------
------------
Shareholders funds
2,933,026
2,912,382
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Obsan Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mr S K Obhrai
Director
Company registration number: 02014018
Obsan Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Enderby Drive, Wolverhampton, West Midlands, WV4 5QU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis unless otherwise specified within the accounting policies and in accordance with section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The following principal accounting policies have been applied:
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible fixed assets, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Investment property is carried at fair value determined annually. No depreciation is provided on investment property. Changes in fair value are recognised in the Statement of Comprehensive Income.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 January 2023 and 31 December 2023
14,660
--------
Depreciation
At 1 January 2023
7,630
Charge for the year
1,055
--------
At 31 December 2023
8,685
--------
Carrying amount
At 31 December 2023
5,975
--------
At 31 December 2022
7,030
--------
6. Investments
Investment Property
£
Cost
At 1 January 2023 and 31 December 2023
3,122,661
------------
Impairment
At 1 January 2023 and 31 December 2023
257,661
------------
Carrying amount
At 31 December 2023
2,865,000
------------
At 31 December 2022
2,865,000
------------
In the opinion of the directors, the investment properties are included at fair value at 31 December 2023.
7. Debtors
2023
2022
£
£
Trade debtors
6,257
623
Other debtors
8,924
15,698
--------
--------
15,181
16,321
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
924
1,506
Corporation tax
5,089
3,789
Other creditors
53,736
74,868
--------
--------
59,749
80,163
--------
--------