4 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,122,661 257,661 2,865,000 2,865,000 xbrli:pure xbrli:shares iso4217:GBP 02014018 2024-01-01 2024-12-31 02014018 2024-12-31 02014018 2023-12-31 02014018 2023-01-01 2023-12-31 02014018 2023-12-31 02014018 2022-12-31 02014018 core:FurnitureFittings 2024-01-01 2024-12-31 02014018 bus:Director2 2024-01-01 2024-12-31 02014018 core:FurnitureFittings 2023-12-31 02014018 core:FurnitureFittings 2024-12-31 02014018 core:WithinOneYear 2024-12-31 02014018 core:WithinOneYear 2023-12-31 02014018 core:ShareCapital 2024-12-31 02014018 core:ShareCapital 2023-12-31 02014018 core:RetainedEarningsAccumulatedLosses 2024-12-31 02014018 core:RetainedEarningsAccumulatedLosses 2023-12-31 02014018 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 02014018 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-12-31 02014018 core:Non-currentFinancialInstruments 2024-12-31 02014018 core:Non-currentFinancialInstruments 2023-12-31 02014018 core:FurnitureFittings 2023-12-31 02014018 bus:SmallEntities 2024-01-01 2024-12-31 02014018 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 02014018 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02014018 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02014018 bus:FullAccounts 2024-01-01 2024-12-31 02014018 core:ComputerEquipment 2024-01-01 2024-12-31 02014018 core:ComputerEquipment 2024-12-31
COMPANY REGISTRATION NUMBER: 02014018
Obsan Limited
Filleted Unaudited Financial Statements
31 December 2024
Obsan Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
6,927
5,975
Investments
6
2,865,000
2,865,000
------------
------------
2,871,927
2,870,975
Current assets
Debtors
7
17,920
15,181
Cash at bank and in hand
136,302
106,619
---------
---------
154,222
121,800
Creditors: amounts falling due within one year
8
53,229
59,749
---------
---------
Net current assets
100,993
62,051
------------
------------
Total assets less current liabilities
2,972,920
2,933,026
------------
------------
Net assets
2,972,920
2,933,026
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
2,972,820
2,932,926
------------
------------
Shareholders funds
2,972,920
2,933,026
------------
------------
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 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 financial statements for the year 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 .
Obsan Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 10 July 2025 , and are signed on behalf of the board by:
Mr S K Obhrai
Director
Company registration number: 02014018
Obsan Limited
Notes to the Financial Statements
Year ended 31 December 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 2 Enderby Drive, Wolverhampton, West Midlands, WV4 5QU.
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 unless otherwise specified within the accounting policies and in accordance with section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The following principal accounting policies have been applied:
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable.
Income tax
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.
Tangible assets
Tangible fixed assets, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Investment property is carried at fair value determined annually. No depreciation is provided on investment property. Changes in fair value are recognised in the Statement of Comprehensive Income.
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:
Fixtures and fittings
-
15% reducing balance
Computer equipment
-
25% straight line
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. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2024
14,660
14,660
Additions
2,311
2,311
--------
-------
--------
At 31 December 2024
14,660
2,311
16,971
--------
-------
--------
Depreciation
At 1 January 2024
8,685
8,685
Charge for the year
897
462
1,359
--------
-------
--------
At 31 December 2024
9,582
462
10,044
--------
-------
--------
Carrying amount
At 31 December 2024
5,078
1,849
6,927
--------
-------
--------
At 31 December 2023
5,975
5,975
--------
-------
--------
6. Investments
Investment Property
£
Cost
At 1 January 2024 and 31 December 2024
3,122,661
------------
Impairment
At 1 January 2024 and 31 December 2024
257,661
------------
Carrying amount
At 31 December 2024
2,865,000
------------
At 31 December 2023
2,865,000
------------
In the opinion of the directors, the investment properties are included at fair value at 31 December 2024.
7. Debtors
2024
2023
£
£
Trade debtors
5,786
6,257
Other debtors
12,134
8,924
--------
--------
17,920
15,181
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
924
Corporation tax
9,134
5,089
Other creditors
44,095
53,736
--------
--------
53,229
59,749
--------
--------