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Registration number: 926999

Osmunda Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Osmunda Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Osmunda Limited

Company Information
__________________________________________________________________________

Directors

N Jacobs

L F Hommel

Company secretary

L F Hommel

Registered office

Abbey House
342 Regents Park Road
N3 2LJ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Osmunda Limited

(Registration number: 926999)
Balance Sheet as at 31 March 2024
__________________________________________________________________________

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

70,000

70,000

Current assets

 

Debtors

5

97,400

92,400

Unlisted investments

6

300,000

300,000

Listed investments

4

431,421

387,609

Cash at bank and in hand

 

155,009

9,014

 

983,830

789,023

Creditors: Amounts falling due within one year

7

(53,785)

(8,992)

Net current assets

 

930,045

780,031

Net assets

 

1,000,045

850,031

Capital and reserves

 

Called up share capital

8

60,000

60,000

Revaluation reserve

52,116

52,116

Retained earnings

887,929

737,915

Shareholders' funds

 

1,000,045

850,031

For the financial year ending 31 March 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.

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 12 November 2024 and signed on its behalf by:
 

 

Osmunda Limited

(Registration number: 926999)
Balance Sheet as at 31 March 2024
__________________________________________________________________________

.........................................
N Jacobs
Director

 

Osmunda Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
__________________________________________________________________________

1

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Osmunda Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
__________________________________________________________________________

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Osmunda Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
__________________________________________________________________________

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

70,000

70,000

At 31 March 2024

70,000

70,000

Depreciation

Carrying amount

At 31 March 2024

70,000

70,000

At 31 March 2023

70,000

70,000

Included within the net book value of land and buildings above is £70,000 (2023 - £70,000) in respect of freehold land and buildings.
 

4

Listed investments

Listed investments
£

Total
£

Listed investments

Cost or valuation

Additions

431,421

431,421

At 31 March 2024

431,421

431,421

Impairment

Carrying amount

At 31 March 2024

431,421

431,421

 

Osmunda Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
__________________________________________________________________________

5

debtors

Current

2024
£

2023
£

Trade debtors

97,400

92,400

 

97,400

92,400

6

Unlisted investments

2024
£

2023
£

Unlisted investments

300,000

300,000

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

48,985

4,192

Accruals and deferred income

4,800

4,800

53,785

8,992

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

"A" Ordinary Shares of £1 each

24,000

24,000

24,000

24,000

"B" Ordinary Shares of £1 each

36,000

36,000

36,000

36,000

60,000

60,000

60,000

60,000