Company registration number 09525236 (England and Wales)
OS GROWTH CO LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
OS GROWTH CO LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
OS GROWTH CO LTD
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
580,000
580,000
Current assets
Debtors
5
600
600
Cash at bank and in hand
63,629
26,980
64,229
27,580
Creditors: amounts falling due within one year
6
(110,749)
(77,841)
Net current liabilities
(46,520)
(50,261)
Total assets less current liabilities
533,480
529,739
Creditors: amounts falling due after more than one year
7
(331,000)
(331,000)
Provisions for liabilities
8
(28,500)
(28,500)
Net assets
173,980
170,239
Capital and reserves
Called up share capital
600
600
Revaluation reserve
150,000
150,000
Profit and loss reserves
23,380
19,639
Total equity
173,980
170,239

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

OS GROWTH CO LTD
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 December 2024 and are signed on its behalf by:
C Nichol
Director
Company registration number 09525236 (England and Wales)
OS GROWTH CO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

OS Growth Co Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

1.1
Accounting convention

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of this company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets

1.2
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax,and other sales taxes.

1.3
Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

 

Investment property is carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income

and retained earnings

1.4
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

 

Current or deferred taxation assets and liabilities are not discounted.

Current tax

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

 

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

 

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

OS GROWTH CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
867
2,542
Adjustments in respect of prior periods
(47)
-
0
Total current tax
820
2,542
4
Investment property
2024
£
Fair value
At 1 May 2023 and 30 April 2024
580,000

The investment property was valued on an open market basis, on 30 April 2024, by the directors.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
600
600
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,300
-
0
Corporation tax
867
2,542
Other taxation and social security
373
1,740
Other creditors
105,209
73,559
110,749
77,841
OS GROWTH CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
331,000
331,000
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
28,500
28,500
10
Related Party Disclosure

During the year OS Growth Co Ltd owed £70,959 (2023: £70,959) to the directors and shareholders of the company. These loans are interest free and there are no terms of payment.

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