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Registration number: SC620615

Oscivia Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Oscivia Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Oscivia Limited

Company Information

Directors

Dr Matthew John Freer

Mrs Samantha Charlotte Fredricksen

Registered office

159 King Street
Rutherglen
Glasgow
G73 1BZ

Accountants

Clyde Business Services
159 King Street
Glasgow
Lanarkshire
G73 1BZ

 

Oscivia Limited

(Registration number: SC620615)
Balance Sheet as at 29 February 2024

Note

2024
£

Current assets

 

Cash at bank and in hand

 

3,341

Creditors: Amounts falling due within one year

4

(2,119)

Net assets

 

1,222

Capital and reserves

 

Called up share capital

5

70

Retained earnings

1,152

Shareholders' funds

 

1,222

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 July 2024 and signed on its behalf by:
 

.........................................
Dr Matthew John Freer
Director

 

Oscivia Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
159 King Street
Rutherglen
Glasgow
G73 1BZ

These financial statements were authorised for issue by the Board on 25 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Oscivia Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2.

 

Oscivia Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

1,222

Accruals and deferred income

480

Other creditors

417

2,119

5

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary A of £1 each

50

50

Ordinary B of £1 each

10

10

Ordinary C of £1 each

10

10

 

70

70

6

Dividends

   

2024

 
   

£

 

Interim dividend of £88.00 per ordinary share

 

6,165