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Registration number: 05924160

Osbourn House Management Company Limited

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 30 September 2024

 

Accountants' Report to the Board of Directors on the Preparation of the Statutory Accounts of
Osbourn House Management Company Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Osbourn House Management Company Limited for the year ended 30 September 2024 as set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss . You consider that the company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Enticknap & Co
The Old Store
The Street
Wonersh
Guildford
Surrey
GU5 0PF

9 January 2025

 

Osbourn House Management Company Limited

(Registration number: 05924160)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

           

Current assets

   

 

Debtors

4

 

917

 

969

Cash at bank and in hand

   

783

 

4,266

   

1,700

 

5,235

Creditors: Amounts falling due within one year

5

 

(3,738)

 

(1,238)

Net (liabilities)/assets

   

(2,038)

 

3,997

Reserves

   

 

Retained earnings

(2,038)

 

3,997

 

(Deficit)/surplus

   

(2,038)

 

3,997

For the financial year ending 30 September 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 January 2025 and signed on its behalf by:
 

.........................................
Mr Nicholas John Elsdon
Director

 

Osbourn House Management Company Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Honeysuckle Cottage
Mill Road
Friston
Saxmundham
Suffolk
IP17 1PH
England

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 where 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 despite the negative balance sheet totals as a director has indicated his willingness to continue to support the company while it recovers the costs expended in the year.

Revenue recognition

Turnover comprises the amount receivable by the company in respect of maintenance charges due from tenants during the period.

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 tenants in respect of maintenance charges unpaid at the accounting date.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of the company's principal activity 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.

 

Osbourn House Management Company Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

3

Staff numbers

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

4

Debtors

Current

2024
£

2023
£

Trade debtors

(75)

50

Prepayments

992

919

 

917

969

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

600

600

Other creditors

3,138

638

3,738

1,238