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COMPANY REGISTRATION NUMBER: 10752199
OSM ACCESSORIES LIMITED
Filleted Unaudited Financial Statements
31 October 2023
OSM ACCESSORIES LIMITED
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
Current assets
Stocks
12,524
9,480
Cash at bank and in hand
60,379
73,773
--------
--------
72,903
83,253
Creditors: amounts falling due within one year
4
192,099
185,515
---------
---------
Net current liabilities
119,196
102,262
---------
---------
Total assets less current liabilities
( 119,196)
( 102,262)
Creditors: amounts falling due after more than one year
5
29,094
38,082
---------
---------
Net liabilities
( 148,290)
( 140,344)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 148,390)
( 140,444)
---------
---------
Shareholders deficit
( 148,290)
( 140,344)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
OSM ACCESSORIES LIMITED
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 29 October 2024 , and are signed on behalf of the board by:
Osmat Chalghin
Director
Company registration number: 10752199
OSM ACCESSORIES LIMITED
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 18 Pembridge Road, London, W11 3HL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
25,264
Other creditors
166,835
185,515
---------
---------
192,099
185,515
---------
---------
5. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
29,094
38,082
--------
--------
6. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Osmat Chalghin
( 19,390)
( 420)
( 19,810)
--------
----
--------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Osmat Chalghin
( 24,550)
5,160
( 19,390)
--------
-------
--------