REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 June 2024 |
for |
OSBORNE & ALLEN LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 June 2024 |
for |
OSBORNE & ALLEN LIMITED |
OSBORNE & ALLEN LIMITED (REGISTERED NUMBER: 03786603) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
OSBORNE & ALLEN LIMITED |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Lloyds Bank Chambers |
Hustlergate |
Bradford |
BD1 1UQ |
OSBORNE & ALLEN LIMITED (REGISTERED NUMBER: 03786603) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stock |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
OSBORNE & ALLEN LIMITED (REGISTERED NUMBER: 03786603) |
Balance Sheet - continued |
30 June 2024 |
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 profit or loss 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 were approved by the Board of Directors and authorised for issue on |
OSBORNE & ALLEN LIMITED (REGISTERED NUMBER: 03786603) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Osborne & Allen Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the invoice value of goods and services provided, less returns and allowances, excluding value added tax. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. |
Depreciation is calculated to write off the assets over their estimated useful lives at the following annual rates: |
Short leasehold property - over the term of the lease |
Fixtures and equipment - 20% of cost |
Motor vehicles - 25% of reducing balance |
Stock |
Stock is stated at the lower of cost and estimated net realisable 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. |
Leasing and hire purchase |
Assets held under hire purchase and similar contracts are capitalised as tangible fixed assets and the corresponding liabilities to pay rentals are shown net of finance charges as hire purchase and similar obligations. The finance charge element of rentals is allocated so as to produce a constant periodic rate of charge on the remaining balance of the obligations for each accounting period. |
Rentals payable under operating leases are charged to profit and loss account as incurred. |
OSBORNE & ALLEN LIMITED (REGISTERED NUMBER: 03786603) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Equipment, |
fixtures |
Land and | and |
buildings | fittings | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
OSBORNE & ALLEN LIMITED (REGISTERED NUMBER: 03786603) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
The operating lease commitments refer to property leases. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid |
Nominal | 2024 | 2023 |
Number: | Class: | value | £ | £ |
51 | 'A' ordinary | £1 | 51 | 51 |
24 | 'B' ordinary | £1 | 24 | 24 |
5 | 'C' ordinary | £1 | 5 | 5 |
5 | 'D' ordinary | £1 | 5 | 5 |
5 | 'E' ordinary | £1 | 5 | 5 |
5 | 'F' ordinary | £1 | 5 | 5 |
5 | 'G' ordinary | £1 | 5 | 5 |
100 | 100 |
All share classes rank equally, except that dividends may be paid on each class of shares at different rates and frequencies. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The directors, R Bremner and L D Bremner, operate a joint current account with the company which was overdrawn by a maximum amount of £48,328 for a period of 277 days during the year. The current account is interest free and was in credit at both the beginning and end of the year. |