28 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 150,000 120,000 15,000 135,000 15,000 30,000 xbrli:pure xbrli:shares iso4217:GBP 05521634 2023-08-01 2024-08-31 05521634 2024-08-31 05521634 2023-07-31 05521634 2022-08-01 2023-07-31 05521634 2023-07-31 05521634 2022-07-31 05521634 core:NetGoodwill 2023-08-01 2024-08-31 05521634 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-01 2024-08-31 05521634 core:FurnitureFittings 2023-08-01 2024-08-31 05521634 core:MotorVehicles 2023-08-01 2024-08-31 05521634 bus:Director2 2023-08-01 2024-08-31 05521634 bus:Director1 2023-08-01 2024-08-31 05521634 core:NetGoodwill 2023-07-31 05521634 core:NetGoodwill 2024-08-31 05521634 core:LandBuildings 2023-07-31 05521634 core:FurnitureFittings 2023-07-31 05521634 core:MotorVehicles 2023-07-31 05521634 core:LandBuildings 2024-08-31 05521634 core:FurnitureFittings 2024-08-31 05521634 core:MotorVehicles 2024-08-31 05521634 core:LandBuildings 2023-08-01 2024-08-31 05521634 core:WithinOneYear 2024-08-31 05521634 core:WithinOneYear 2023-07-31 05521634 core:AfterOneYear 2024-08-31 05521634 core:AfterOneYear 2023-07-31 05521634 core:ShareCapital 2024-08-31 05521634 core:ShareCapital 2023-07-31 05521634 core:RetainedEarningsAccumulatedLosses 2024-08-31 05521634 core:RetainedEarningsAccumulatedLosses 2023-07-31 05521634 core:NetGoodwill 2023-07-31 05521634 core:LandBuildings 2023-07-31 05521634 core:FurnitureFittings 2023-07-31 05521634 core:MotorVehicles 2023-07-31 05521634 bus:Director1 2023-07-31 05521634 bus:Director1 2024-08-31 05521634 bus:Director1 2022-07-31 05521634 bus:Director1 2023-07-31 05521634 bus:Director1 2022-08-01 2023-07-31 05521634 bus:SmallEntities 2023-08-01 2024-08-31 05521634 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-08-31 05521634 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-08-31 05521634 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-08-31 05521634 bus:FullAccounts 2023-08-01 2024-08-31
COMPANY REGISTRATION NUMBER: 05521634
Oshn Limited
Filleted Unaudited Financial Statements
31 August 2024
Oshn Limited
Statement of Financial Position
31 August 2024
31 Aug 24
31 Jul 23
Note
£
£
£
Fixed assets
Intangible assets
5
15,000
30,000
Tangible assets
6
599,855
578,057
---------
---------
614,855
608,057
Current assets
Debtors
7
15,429
74,894
Cash at bank and in hand
17,159
16,127
--------
--------
32,588
91,021
Creditors: amounts falling due within one year
8
80,885
73,505
--------
--------
Net current (liabilities)/assets
( 48,297)
17,516
---------
---------
Total assets less current liabilities
566,558
625,573
Creditors: amounts falling due after more than one year
9
225,618
255,297
---------
---------
Net assets
340,940
370,276
---------
---------
Capital and reserves
Called up share capital
4
4
Profit and loss account
340,936
370,272
---------
---------
Shareholders funds
340,940
370,276
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 August 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Oshn Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 22 March 2025 , and are signed on behalf of the board by:
Mrs F Brissenden
Director
Company registration number: 05521634
Oshn Limited
Notes to the Financial Statements
Period from 1 August 2023 to 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sportsman Farm, Tenterden, TN30 6SY, Kent.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
1% reducing balance
Fixtures & Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 28 (2023: 28 ).
5. Intangible assets
Goodwill
£
Cost
At 1 August 2023 and 31 August 2024
150,000
---------
Amortisation
At 1 August 2023
120,000
Charge for the period
15,000
---------
At 31 August 2024
135,000
---------
Carrying amount
At 31 August 2024
15,000
---------
At 31 July 2023
30,000
---------
6. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 August 2023
617,519
43,429
25,745
4,369
691,062
Additions
30,000
30,000
---------
--------
--------
-------
---------
At 31 August 2024
647,519
43,429
25,745
4,369
721,062
---------
--------
--------
-------
---------
Depreciation
At 1 August 2023
55,327
29,554
24,486
3,638
113,005
Charge for the period
5,623
2,081
315
183
8,202
---------
--------
--------
-------
---------
At 31 August 2024
60,950
31,635
24,801
3,821
121,207
---------
--------
--------
-------
---------
Carrying amount
At 31 August 2024
586,569
11,794
944
548
599,855
---------
--------
--------
-------
---------
At 31 July 2023
562,192
13,875
1,259
731
578,057
---------
--------
--------
-------
---------
7. Debtors
31 Aug 24
31 Jul 23
£
£
Other debtors
15,429
74,894
--------
--------
8. Creditors: amounts falling due within one year
31 Aug 24
31 Jul 23
£
£
Bank loans and overdrafts
59,617
54,557
Trade creditors
2,198
2,457
Corporation tax
16,331
Social security and other taxes
13,752
Other creditors
2,739
2,739
--------
--------
80,885
73,505
--------
--------
9. Creditors: amounts falling due after more than one year
31 Aug 24
31 Jul 23
£
£
Bank loans and overdrafts
225,618
255,297
---------
---------
10. Directors' advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
31 Aug 24
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr S Brissenden
68,558
( 53,130)
15,428
--------
--------
--------
31 Jul 23
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr S Brissenden
104,843
( 36,285)
68,558
---------
--------
--------
11. Related party transactions