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Registered number: 08589036
Osman Consulting Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Sigma Chartered Accountants
ICAEW
862-864 Washwood Heath Road
Birmingham
West Midlands
B8 2NG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08589036
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 247,644 247,443
247,644 247,443
CURRENT ASSETS
Debtors 5 17,377 65,411
Cash at bank and in hand 271,618 107,108
288,995 172,519
Creditors: Amounts Falling Due Within One Year 6 (330,473 ) (174,620 )
NET CURRENT ASSETS (LIABILITIES) (41,478 ) (2,101 )
TOTAL ASSETS LESS CURRENT LIABILITIES 206,166 245,342
Creditors: Amounts Falling Due After More Than One Year 7 - (38,287 )
NET ASSETS 206,166 207,055
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 206,165 207,054
SHAREHOLDERS' FUNDS 206,166 207,055
Page 1
Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Moustafa Osman
Director
17/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Osman Consulting Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08589036 . The registered office is 1003 Stratford Road, Shirley, Solihull, B90 4BG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not Depreciated
Plant & Machinery over 5 years
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 7)
5 7
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 January 2023 247,000 8,384 255,384
Additions - 2,347 2,347
As at 31 December 2023 247,000 10,731 257,731
Depreciation
As at 1 January 2023 - 7,941 7,941
Provided during the period - 2,146 2,146
As at 31 December 2023 - 10,087 10,087
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2023 247,000 644 247,644
As at 1 January 2023 247,000 443 247,443
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 17,377 65,411
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 4,843 -
Other creditors 324,362 133,762
Taxation and social security 1,268 40,858
330,473 174,620
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 38,287
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 4