Company Registration No. 06536073 (England and Wales)
Osmosis Promotional Products Limited
Unaudited accounts
for the year ended 31 March 2024
Osmosis Promotional Products Limited
Unaudited accounts
Contents
Osmosis Promotional Products Limited
Company Information
for the year ended 31 March 2024
Company Number
06536073 (England and Wales)
Registered Office
152 Coles Green Road
London
NW2 7HD
England
Accountants
Jacobs & Company
152 Coles Green Road
London
NW2 7HD
Osmosis Promotional Products Limited
Statement of financial position
as at 31 March 2024
Tangible assets
58,065
71,786
Investments
213,923
213,923
Cash at bank and in hand
31,078
85,070
Creditors: amounts falling due within one year
(451,184)
(441,045)
Net current liabilities
(197,643)
(175,668)
Total assets less current liabilities
74,345
110,041
Creditors: amounts falling due after more than one year
(10,000)
(10,000)
Provisions for liabilities
Deferred tax
(7,465)
(7,465)
Called up share capital
20
20
Profit and loss account
56,860
92,556
Shareholders' funds
56,880
92,576
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 October 2024 and were signed on its behalf by
Mr S Scop
Director
Company Registration No. 06536073
Osmosis Promotional Products Limited
Notes to the Accounts
for the year ended 31 March 2024
Osmosis Promotional Products Limited is a private company, limited by shares, registered in England and Wales, registration number 06536073. The registered office is 152 Coles Green Road, London, NW2 7HD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over the life of the lease
Plant & machinery
20%- 33% on straight line basis
Motor vehicles
over 5 years on straight line basis
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in shares are included at fair value.
Osmosis Promotional Products Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
58,602
57,261
21,909
137,772
At 31 March 2024
58,602
58,253
21,909
138,764
At 1 April 2023
17,091
45,649
3,246
65,986
Charge for the year
5,860
6,071
2,782
14,713
At 31 March 2024
22,951
51,720
6,028
80,699
At 31 March 2024
35,651
6,533
15,881
58,065
At 31 March 2023
41,511
11,612
18,663
71,786
5
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 April 2023
7,641
206,282
213,923
Valuation at 31 March 2024
7,641
206,282
213,923
Investments in subsidiaries comprise:
In-Car Promotions Limited UK company - 100% shareholding - dormant
Pulstar Dataprint Limited UK company - 100% shareholding - promotional & printing
Osmosis Properties Ltd - 100% shareholding - property investment
Other investments comprise listed investments
Amounts falling due within one year
Trade debtors
151,360
176,495
Amounts due from group undertakings etc.
40,412
-
Accrued income and prepayments
2,071
45
Other debtors
28,620
1,250
Osmosis Promotional Products Limited
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
69,412
46,811
Amounts owed to group undertakings and other participating interests
358,634
244,093
Taxes and social security
-
15,192
Loans from directors
-
79,330
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
10,000
10,000
Allotted, called up and fully paid:
20 Ordinary shares of £1 each
20
20
The company is a party to a cross-guarantee in favour of HSBC Bank plc in respect of borrowings by Osmosis Properties Ltd, Replay Promotions Limited and the company.
11
Transactions with related parties
The following balances existed with related companies at 31 March 2024
An amount of £358,097 was due to Replay Promotions Ltd (2023:£243,069). The director Mr S Scop is a director and shareholder of Replay Promotions Ltd. Osmosis charged Replay Promotions Ltd an amount of £54,000 (2023:£54,000) for management fees and share of office costs in the year.
12
Average number of employees
During the year the average number of employees was 6 (2023: 6).