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COMPANY REGISTRATION NUMBER: 15126655
Ostberg Sinclair & Co. Ltd
Filleted Unaudited Financial Statements
31 January 2025
Ostberg Sinclair & Co. Ltd
Financial Statements
Period from 10 September 2023 to 31 January 2025
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Ostberg Sinclair & Co. Ltd
Statement of Financial Position
31 January 2025
31 Jan 25
Note
£
Fixed assets
Tangible assets
5
22,561
Current assets
Debtors
6
750,490
Cash at bank and in hand
424,778
------------
1,175,268
Creditors: amounts falling due within one year
7
523,529
------------
Net current assets
651,739
---------
Total assets less current liabilities
674,300
---------
Net assets
674,300
---------
Capital and reserves
Called up share capital
200
Profit and loss account
674,100
---------
Shareholders funds
674,300
---------
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 comprehensive income has not been delivered.
For the period ending 31 January 2025 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 .
Ostberg Sinclair & Co. Ltd
Statement of Financial Position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 10 June 2025 , and are signed on behalf of the board by:
G Sinclair
L O Ostberg
Director
Director
Company registration number: 15126655
Ostberg Sinclair & Co. Ltd
Notes to the Financial Statements
Period from 10 September 2023 to 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 New Dover Road, Canterbury, CT1 3DN, England.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Office equipment
-
20% straight line
Computer equipment
-
20% straight line
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 10 .
5. Tangible assets
Office equipment
Computer equipment
Total
£
£
£
Cost
At 10 September 2023
Additions
758
25,093
25,851
----
--------
--------
At 31 January 2025
758
25,093
25,851
----
--------
--------
Depreciation
At 10 September 2023
Charge for the period
110
3,180
3,290
----
--------
--------
At 31 January 2025
110
3,180
3,290
----
--------
--------
Carrying amount
At 31 January 2025
648
21,913
22,561
----
--------
--------
6. Debtors
31 Jan 25
£
Trade debtors
406,537
Amounts owed by group undertakings and undertakings in which the company has a participating interest
267,478
Other debtors
76,475
---------
750,490
---------
7. Creditors: amounts falling due within one year
31 Jan 25
£
Trade creditors
105,591
Corporation tax
296,961
Social security and other taxes
112,329
Other creditors
8,648
---------
523,529
---------
8. Related party balances
At period end, the company was owed £267,478 in total from associated companies.