Registered number
09883228
Oshin Properties Ltd
Filleted Accounts
30 November 2023
Oshin Properties Ltd
Registered number: 09883228
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 72,712 83,099
Current assets
Debtors 5 56,239 64,585
Cash at bank and in hand 15,153 21,870
71,392 86,455
Creditors: amounts falling due within one year 6 (81,649) (73,670)
Net current (liabilities)/assets (10,257) 12,785
Total assets less current liabilities 62,455 95,884
Creditors: amounts falling due after more than one year 7 (40,402) (72,362)
Net assets 22,053 23,522
Capital and reserves
Called up share capital 1 1
Profit and loss account 22,052 23,521
Shareholder's funds 22,053 23,522
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M E Pilacik
Director
Approved by the board on 23 September 2024
Oshin Properties Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, 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 and machinery at 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 103,873
At 30 November 2023 103,873
Amortisation
At 1 December 2022 20,774
Provided during the year 10,387
At 30 November 2023 31,161
Net book value
At 30 November 2023 72,712
At 30 November 2022 83,099
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 90
At 30 November 2023 90
Depreciation
At 1 December 2022 90
At 30 November 2023 90
Net book value
At 30 November 2023 -
5 Debtors 2023 2022
£ £
Other debtors 56,239 64,585
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 2,617 33
Accrued expenses - 2,250
Other creditors 79,032 71,387
81,649 73,670
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 40,402 72,362
8 Related party transactions
Columbus Investment Group Limited is owned in 33.33% by Ms M Pilacik and is shown as other debtor of £1,000 (2021: £15,000)
9 Other information
Oshin Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
HA7 1JS
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