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REGISTERED NUMBER: 06920105 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Ossila Ltd

Ossila Ltd (Registered number: 06920105)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ossila Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Dr J W Kingsley
Dr D G Lidzey
Dr A R Buckley





REGISTERED OFFICE: Northern Block
Solpro Business Park
Windsor Street
Sheffield
S4 7WB





REGISTERED NUMBER: 06920105 (England and Wales)





ACCOUNTANTS: DLA Chartered Accountants
36A Market Street
New Mills
High Peak
SK22 4AA

Ossila Ltd (Registered number: 06920105)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 57,638 90,201

CURRENT ASSETS
Stocks 1,234,003 1,300,528
Debtors 5 328,425 321,228
Cash at bank and in hand 997,167 814,812
2,559,595 2,436,568
CREDITORS
Amounts falling due within one year 6 163,969 159,464
NET CURRENT ASSETS 2,395,626 2,277,104
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,453,264

2,367,305

PROVISIONS FOR LIABILITIES 14,410 -
NET ASSETS 2,438,854 2,367,305

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,438,853 2,367,304
SHAREHOLDERS' FUNDS 2,438,854 2,367,305

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 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 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 10 December 2024 and were signed on its behalf by:





Dr J W Kingsley - Director


Ossila Ltd (Registered number: 06920105)

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

1. STATUTORY INFORMATION

Ossila 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 50% on cost
Plant and machinery - 50% on cost
Fixtures and fittings - 50% on cost
Computer equipment - 50% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2023 - 55 ) .

Ossila Ltd (Registered number: 06920105)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 37,156 20,650 47,885 62,967 168,658
Additions 4,497 - 426 49,277 54,200
At 30 June 2024 41,653 20,650 48,311 112,244 222,858
DEPRECIATION
At 1 July 2023 14,497 20,650 13,310 30,000 78,457
Charge for year 23,811 - 17,255 45,697 86,763
At 30 June 2024 38,308 20,650 30,565 75,697 165,220
NET BOOK VALUE
At 30 June 2024 3,345 - 17,746 36,547 57,638
At 30 June 2023 22,659 - 34,575 32,967 90,201

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 280,861 264,732
VAT 32,955 41,563
Prepayments and accrued income 14,609 14,073
Accrued income - 860
328,425 321,228

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 67,825 50,572
Tax 43,224 61,064
Other creditors - 1,274
Wages accrual 49,070 23,303
Pension control - 12,723
Accrued expenses 3,850 10,528
163,969 159,464