5 2 OSY Group Ltd 11518695 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is manufacture of cleaning and polishing preparations. Digita Accounts Production Advanced 6.30.9574.0 true 11518695 2024-01-01 2024-12-31 11518695 2024-12-31 11518695 bus:OrdinaryShareClass1 2024-12-31 11518695 core:CurrentFinancialInstruments 2024-12-31 11518695 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 11518695 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 11518695 core:FurnitureFittingsToolsEquipment 2024-12-31 11518695 bus:SmallEntities 2024-01-01 2024-12-31 11518695 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11518695 bus:FilletedAccounts 2024-01-01 2024-12-31 11518695 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11518695 bus:RegisteredOffice 2024-01-01 2024-12-31 11518695 bus:Director1 2024-01-01 2024-12-31 11518695 bus:Director2 2024-01-01 2024-12-31 11518695 bus:Director3 2024-01-01 2024-12-31 11518695 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 11518695 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11518695 bus:Agent1 2024-01-01 2024-12-31 11518695 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 11518695 core:OfficeEquipment 2024-01-01 2024-12-31 11518695 countries:England 2024-01-01 2024-12-31 11518695 2023-12-31 11518695 core:FurnitureFittingsToolsEquipment 2023-12-31 11518695 2023-01-01 2023-12-31 11518695 2023-12-31 11518695 bus:OrdinaryShareClass1 2023-12-31 11518695 core:CurrentFinancialInstruments 2023-12-31 11518695 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11518695 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 11518695 core:FurnitureFittingsToolsEquipment 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 11518695

OSY Group Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

OSY Group Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

OSY Group Ltd

Company Information

Directors

Marc Braterman

Barry Michael Conway

Nolan Stephen Braterman

Registered office

Suite 4b Manchester International Office Centre
11 Styal Road
Manchester
United Kingdom
M22 5WB

Accountants

Williamson Croft Accountants Limited
Chartered Certified AccountantsYork House
20 York Street
Manchester
M2 3BB

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
OSY Group Ltd
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of OSY Group Ltd for the year ended 31 December 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of OSY Group Ltd, as a body, in accordance with the terms of our engagement letter dated 1 November 2022. Our work has been undertaken solely to prepare for your approval the accounts of OSY Group Ltd and state those matters that we have agreed to state to the Board of Directors of OSY Group Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OSY Group Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that OSY Group Ltd 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 of OSY Group Ltd. You consider that OSY Group Ltd 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 OSY Group Ltd. 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.

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

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

31 March 2025

 

OSY Group Ltd

(Registration number: 11518695)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,680

9,472

Current assets

 

Stocks

26,937

51,000

Debtors

5

573,771

552,233

Cash at bank and in hand

 

194,640

62,140

 

795,348

665,373

Creditors: Amounts falling due within one year

6

(359,054)

(556,901)

Net current assets

 

436,294

108,472

Total assets less current liabilities

 

442,974

117,944

Creditors: Amounts falling due after more than one year

6

(56,300)

(92,691)

Provisions for liabilities

(1,669)

(1,799)

Net assets

 

385,005

23,454

Capital and reserves

 

Called up share capital

7

941

800

Share premium reserve

999,709

249,850

Retained earnings

(615,645)

(227,196)

Shareholders' funds

 

385,005

23,454

For the financial year ending 31 December 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

 

OSY Group Ltd

(Registration number: 11518695)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 31 March 2025 and signed on its behalf by:
 

.........................................
Marc Braterman
Director

 

OSY Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Suite 4b Manchester International Office Centre
11 Styal Road
Manchester
United Kingdom
M22 5WB

These financial statements were authorised for issue by the Board on 31 March 2025.

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 that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

OSY Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Government grants

Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred or when any terms and conditions relating to the grant are satisfied. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets.

Grants received in advance are included within other creditors whilst those for which the conditions have been met and which are virtually certain to be received by the company are included in other debtors.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% Straight Line

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.

 

OSY Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 2).

 

OSY Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

19,056

19,056

Additions

1,073

1,073

At 31 December 2024

20,129

20,129

Depreciation

At 1 January 2024

9,584

9,584

Charge for the year

3,865

3,865

At 31 December 2024

13,449

13,449

Carrying amount

At 31 December 2024

6,680

6,680

At 31 December 2023

9,472

9,472

5

Debtors

Current

2024
£

2023
£

Trade debtors

199,856

292,049

Prepayments and accrued income

120,899

74,658

Other debtors

253,016

185,526

 

573,771

552,233

 

OSY Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

40,138

117,826

Trade creditors

 

91,351

143,436

Taxation and social security

 

26,671

27,503

Accruals and deferred income

 

6,740

58,354

Other creditors

 

194,154

209,782

 

359,054

556,901

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

56,300

92,691

Included within other creditors less than one year is £152,809 (2023: £195,432).This relates to an invoice finance facility which is secured by way of a fixed and floating charge and negative pledge.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share capital of £1 each

941

941

800

800

       

8

Related party transactions

As at the year end there were amounts totalling £6,501 owed by the directors, in 2023 there were amounts totalling £6,074 owed to the directors. The amounts are unsecured and repayable on demand.