1. Statutory Information |
OSB EVENTS MARKETING LTD is a private company, limited by shares, registered in England and Wales, registration number 14669502. |
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2. Accounting Policies |
Basis of preparing the Financial Statements |
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. |
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Presentation Currency |
The accounts are presented in £ sterling. |
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Current Tax |
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Current TaxationThe taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantially enacted at the reporting date. |
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Tangible Fixed Asset Policy |
Tangible AssetsTangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as the result of a revaluation is recognised in other comprehensive income and accumulated equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit and loss.Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Plant and machinery - 10% straight lineFixtures & Fittings - 10% straight line |