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REGISTERED NUMBER: 04855655 (England and Wales)












THE OSBORNE (SWANSEA) MANAGEMENT
COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2024






THE OSBORNE (SWANSEA) MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 04855655)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE OSBORNE (SWANSEA) MANAGEMENT
COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr H A Richards
Mr K H Beck
Mrs E L Lewis
Mr M S Jenkins
Mr T Pritchard
Ms D S Rowlands
Mr J E Collins
Mr R Phillip
Mr P W Jenkins





SECRETARY: Mr K H Beck





REGISTERED OFFICE: Ethos
Kings Road
SA1 Swansea Waterfront
Swansea
West Glamorgan
SA1 8AS





REGISTERED NUMBER: 04855655 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

THE OSBORNE (SWANSEA) MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 04855655)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 119,319 119,319

CURRENT ASSETS
Debtors 5 88,509 33,189
Cash at bank 175,133 612,099
263,642 645,288
CREDITORS
Amounts falling due within one year 6 13,285 347,803
NET CURRENT ASSETS 250,357 297,485
TOTAL ASSETS LESS CURRENT LIABILITIES 369,676 416,804

RESERVES
Non distributable reserves 7 101,500 101,500
Income and expenditure account 7 268,176 315,304
369,676 416,804

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:





Mr J E Collins - Director


THE OSBORNE (SWANSEA) MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 04855655)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

The Osborne (Swansea) Management Company Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 have been prepared under the historical cost convention.

Turnover
Turnover represents maintenance income received for management of properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold reversion comprises the land at The Osborne Estate. The freehold reversion is not considered by the Directors to be a depreciating asset, accordingly no depreciation is charged in the Accounts.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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 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.

THE OSBORNE (SWANSEA) MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 04855655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Freehold
Reversion
£   
COST
At 1 October 2023
and 30 September 2024 119,319
NET BOOK VALUE
At 30 September 2024 119,319
At 30 September 2023 119,319

The company purchased the Freehold Reversion on 21st December 2007 for £119,319.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,912 18,017
Prepayments 83,597 15,172
88,509 33,189

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 1,098 964
Other creditors 12,187 346,839
13,285 347,803

THE OSBORNE (SWANSEA) MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 04855655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. RESERVES
Income
and Non
expenditure distributable
account reserves Totals
£    £    £   

At 1 October 2023 315,304 101,500 416,804
Deficit for the year (47,128 ) (47,128 )
At 30 September 2024 268,176 101,500 369,676

The non-distributable reserve represents an amount equal to the amount paid by some shareholders to the company as a contribution towards the purchase of the Freehold Reversion.