OSL Limited


FINANCIAL STATEMENTS


for the year ended 31st January 2024



OSL Limited

CONTENTS

for the year ended 31st January 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

OSL Limited

Company No. 10564534

STATEMENT OF FINANCIAL POSITION

as at 31st January 2024

20242023
Note£££
FIXED ASSETS
Property, plant and equipment42959120619
2959120619
CURRENT ASSETS
Debtors53048546401
Cash at bank and in hand118889163912
149374210313
CURRENT LIABILITIES
Creditors: amounts falling due
within one year65076264098
NET CURRENT ASSETS98612146215
TOTAL ASSETS LESS CURRENT LIABILITIES128203166834
 
Creditors: amounts falling due
after more than one year--
 
NET ASSETS128203166834
 
CAPITAL AND RESERVES
Called up share capital100100
Retained earnings128103166734
SHAREHOLDERS FUNDS128203166834

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st January 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 7 October 2024


P Mahmut

Director

Company Number 10564534 (England)

OSL Limited

NOTES TO THE ACCOUNTS

for the year ended 31st January 2024


1   Statutory information

OSL Limited is a private company limited by shares and registered under company number 10564534 in England. Its registered office address is 12, Hatherley Road, Sidcup, Kent,DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles20-25% reducing balance

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Pensions

The Company operates a defined contribution pension scheme. Contributions are charged to the Income Statement as they become payable in accordance with the rules of the scheme.

3   Employee information

The average number of employees during the accounting period was 2 (2023 - 2).

4   Property, plant and equipment
 
PlantFixtures
Motorandand
VehiclesMachineryFittingsTotal
££££
Cost
At 1st February 2023 1609334842792558860
Additions15990--15990
Disposals(10793)--(10793)
At 31st January 20242129034842792564057
 
Depreciation
At 1st February 2023 1058423003465438241
Charge for year55923688183745
On disposals(7520)--(7520)
At 31st January 2024362325371547234466
 
Net Book Value
At 31st January 2024176679471245329591
At 31st January 2023550911839327120619

5   Debtors20242023
££
 
Trade Debtors291020196
Other debtors2757526205
3048546401

6   Creditors: amounts falling due within one year20242023
££
 
Trade Creditors-3416
Corporation tax759929110
Taxes and social security costs-7426
Other creditors4316324146
5076264098

7   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20242023
££
 
A Coutts20228285
P Mahmut20227285
40455570

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