Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-302024-01-30falseNo description of principal activity2023-01-3122truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04477202 2023-01-31 2024-01-30 04477202 2022-01-31 2023-01-30 04477202 2024-01-30 04477202 2023-01-30 04477202 c:Director1 2023-01-31 2024-01-30 04477202 d:PlantMachinery 2023-01-31 2024-01-30 04477202 d:PlantMachinery 2024-01-30 04477202 d:PlantMachinery 2023-01-30 04477202 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-31 2024-01-30 04477202 d:CurrentFinancialInstruments 2024-01-30 04477202 d:CurrentFinancialInstruments 2023-01-30 04477202 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-30 04477202 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-30 04477202 d:ShareCapital 2024-01-30 04477202 d:ShareCapital 2023-01-30 04477202 d:RetainedEarningsAccumulatedLosses 2024-01-30 04477202 d:RetainedEarningsAccumulatedLosses 2023-01-30 04477202 c:FRS102 2023-01-31 2024-01-30 04477202 c:AuditExempt-NoAccountantsReport 2023-01-31 2024-01-30 04477202 c:FullAccounts 2023-01-31 2024-01-30 04477202 c:PrivateLimitedCompanyLtd 2023-01-31 2024-01-30 04477202 e:PoundSterling 2023-01-31 2024-01-30 iso4217:GBP xbrli:pure
Registered number: 04477202








 
OSAF PROJECTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 30 JANUARY 2024







Fletcher & Partners
Chartered Accountants
Salisbury

 
OSAF PROJECTS LIMITED
REGISTERED NUMBER: 04477202

BALANCE SHEET
AS AT 30 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,751
2,001

  
1,751
2,001

Current assets
  

Stocks
  
38,197
38,197

Debtors: amounts falling due within one year
 5 
2,958
3,161

Cash at bank and in hand
 6 
20,133
27,757

  
61,288
69,115

Creditors: amounts falling due within one year
 7 
(102,866)
(113,022)

Net current liabilities
  
 
 
(41,578)
 
 
(43,907)

  

Net liabilities
  
(39,827)
(41,906)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(39,829)
(41,908)

  
(39,827)
(41,906)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


R P A Beal
Director

Date: 24 October 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
OSAF PROJECTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2024

1.


General information

OSAF Projects Limited is a private company limited by shares, incorporated in England and Wales with the registered number 04477202. Its registered office is Alexandra House, St Johns Street, Salisbury, Wiltshire, SP1 2SB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of the development and management of property services supplied during the year and the sale or lease of land, inclusive of Value Added Tax. 
Turnover is recognised once the services are performed, and the sale or lease of land is completed.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
OSAF PROJECTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
25% straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

  
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

  
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

  
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
OSAF PROJECTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2024

3.


Employees

2024
2023
£
£

Wages and salaries
32,237
32,912

32,237
32,912


The average monthly number of employees, including directors, during the period was 2 (2023 - 2).


4.


Tangible fixed assets





Plant & machinery

£



Cost or valuation


At 31 January 2023
6,181


Additions
1,000



At 30 January 2024

7,181



Depreciation


At 31 January 2023
4,180


Charge for the period on owned assets
1,250



At 30 January 2024

5,430



Net book value



At 30 January 2024
1,751



At 30 January 2023
2,001


5.


Debtors

2024
2023
£
£


Trade debtors
1,713
1,425

Prepayments and accrued income
1,245
1,736

2,958
3,161


Page 4

 
OSAF PROJECTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
20,133
27,757

20,133
27,757



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Debenture loans
10,000
10,000

Corporation tax
827
-

Other creditors
89,125
100,286

Accruals and deferred income
2,914
2,736

102,866
113,022


The debenture is held by the director, Mr Beal.


8.


Related party transactions

The debenture loan shown in Notes 8 and 9 was advanced to the company by R P A Beal, it is repayable on demand, and is secured by a debenture over all the assets of the company and bears interest at 2% above Barclays Bank's base rate. Its purpose is to provide working capital to the company. The company did not repay any of the loan in this year.  The balance at 30 January 2024 was £10,000 (2023: £10,000).


Page 5