| Registered number |
| For the year ended |
| OSF Digital UK Limited | |
| Report and accounts | |
| Contents | |
| Page | |
| Company information | 1 |
| Directors' report | 2-3 |
| Strategic report | 4-5 |
| Independent auditor's report | 6-8 |
| Income statement | 9 |
| Statement of comprehensive income | 10 |
| Statement of financial position | 11 |
| Statement of changes in equity | 12 |
| Statement of cash flows | 13 |
| Notes to the financial statements | 14-21 |
| Company Information |
| Directors |
| Auditors |
| Unit 101 |
| First Floor, Cervantes House |
| 5-9 Headstone Road |
| Harrow |
| HA1 1PD |
| Registered office |
| First Floor |
| 28-30 Worship Street |
| London |
| EC2A 2AH |
| Registered number |
| Registered number: | |||||||
| Directors' Report | |||||||
| The directors present their report and financial statements for the year ended |
|||||||
| Principal activities | |||||||
| Directors | |||||||
| The following persons served as directors during the year: | |||||||
| Directors' responsibilities | |||||||
| The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations. | |||||||
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: | |||||||
| ● | select suitable accounting policies and then apply them consistently; | ||||||
| ● | make judgements and estimates that are reasonable and prudent; | ||||||
| ● | state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; | ||||||
| ● | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. | ||||||
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. | |||||||
| Auditors | |||||||
| The auditor, Makesworth Audit Services Ltd, are deemed to be reappointed under section 487(2) of the Companies Act 2006. |
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| Disclosure of information to auditors | |||||||
| Each person who was a director at the time this report was approved confirms that: | |||||||
| ● | so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and | ||||||
| ● | he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information. | ||||||
| This report was approved by the board on |
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| Mr J Keller | |||||||
| Director | |||||||
| Strategic Report | ||
| The director presents the strategic report for the year ended 31 December 2024. Review of the business During the year ended 31 December 2024, the company experienced a decline in turnover to £18.6 million (2023: £19.9 million), reflecting reduced client demand and market pressures. Gross and operating profit margins decreased significantly due to higher delivery and administrative costs. Despite these challenges, the company remained profitable and strengthened its balance sheet, with net assets increasing to £1.35 million. The business continues to focus on cost control, client retention, and operational efficiency, positioning itself for long-term growth. |
||
| Principal Risks and Uncertainties The directors of OSF Digital UK Ltd have identified a number of principal risks and uncertainties that could affect the company's performance and strategic objectives. Each risk is closely monitored, and appropriate mitigation measures have been implemented to manage potential impact. Economic and Market Conditions The company operates within a dynamic digital services market that is influenced by broader economic and political factors, including inflation, interest rate fluctuations, and global instability. Such conditions may lead to reduced client budgets, delayed digital transformation projects, or changes in procurement behaviour. To mitigate these risks, the company maintains a diversified client base across different industries and geographies and closely monitors market developments to adapt its operations accordingly. Client Concentration and Contract Risk A significant proportion of revenue is derived from a limited number of key clients, creating a risk should any major client reduce their spend or terminate their engagement. To address this, OSF Digital UK Ltd focuses on developing long-term, value-driven client relationships, while actively pursuing new business opportunities to reduce dependency on any single client. Talent Acquisition and Retention The success of the business depends on the ability to attract and retain highly skilled professionals in a competitive technology labour market. The company mitigates this risk by offering competitive remuneration and benefits, providing opportunities for career development, and promoting a flexible and inclusive working environment that supports employee well-being and engagement. |
||
Cybersecurity and Data Protection Given the nature of digital transformation work, the company is exposed to the risk of cyberattacks, data breaches, and non-compliance with data protection laws such as the UK GDPR. OSF Digital UK Ltd manages this risk through the implementation of robust cybersecurity measures, regular staff training, and comprehensive data protection policies and procedures, supported by periodic reviews and audits. Technological Change The rapid pace of technological innovation means there is a risk that the company's services or capabilities could become outdated or misaligned with client needs. To mitigate this, the company and in particular its parent company in group level invests in continuous research and development, upskills its workforce through regular training. |
||
| Key performance indicators The directors monitor a range of KPIs to assess financial health and operational efficiency. Key indicators for the year ended 31 December 2024 are as follows: Revenue: £18.6m (2023: £19.9m) - Decrease of 6.2% due to reduced client activity. Gross Profit Margin: 27.9% (2023: 46.9%) - Decline driven by increased cost of sales. Operating Profit Margin: Approx. 2.0% (2023: 20.9%) - Reflects margin pressure and higher administrative costs. Net Assets: £1.35m (2023: £1.14m) - Increase of 18% due to retained earnings. Cash at Bank: £1.41m (2023: £2.31m) - Decline due to working capital movements. Debtor Days: 118 days (2023: 127 days) - Improved collection period. Creditor Days: 121 days (2023: 126 days) - Stable supplier payment cycle. The company remains financially stable, with a focus on improving margins and maintaining cash flow resilience. |
||
| This report was approved by the board on 1 August 2025 and signed on its behalf. | ||
| Mr J Keller | ||
| Director | ||
| OSF Digital UK Limited | ||
| Independent auditor's report | ||
| to the member of OSF Digital UK Limited | ||
| Opinion | ||
| We have audited the financial statements of OSF Digital UK Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). | ||
| In our opinion the financial statements: | ||
| ● | give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended; | |
| ● | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; | |
| ● | have been prepared in accordance with the requirements of the Companies Act 2006. | |
| Basis for opinion | ||
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. | ||
| Conclusions relating to going concern | ||
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. | ||
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. | ||
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. | ||
| Other information | ||
| The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. | ||
| We have nothing to report in this regard. | ||
| Opinions on other matters prescribed by the Companies Act 2006 | ||
| In our opinion, based on the work undertaken in the course of the audit: | ||
| ● | the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and | |
| ● | the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. | |
| Matters on which we are required to report by exception | ||
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report. | ||
| We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: | ||
| ● | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or | |
| ● | the financial statements are not in agreement with the accounting records and returns; or | |
| ● | certain disclosures of directors’ remuneration specified by law are not made; or | |
| ● | we have not received all the information and explanations we require for our audit. | |
| Responsibilities of directors | ||
| As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. | ||
| In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. | ||
| Auditor’s responsibilities for the audit of the financial statements | ||
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. | ||
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: | ||
| We have considered the nature of the company's industry and its control environment, and reviewed the company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks and irregularities. We obtained an understanding of the legal and regulatory framework that the company operates in, and identified the key laws and regulations that: - had a direct effect on the determination of material amounts and disclosures in the financial statements. These included UK Companies Act, tax legislation, pension legislation etc; and - do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements. In common with all audits under ISAs (UK), we are required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making the accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business. In addition to the above, our procedures to respond to the risks identified included the following: |
||
| - reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud: and - enquiring of management and external legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations |
| A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. | ||
| Use of our report | ||
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. | ||
| (Senior Statutory Auditor) | Unit 101 | |
| for and on behalf of | First Floor, Cervantes House | |
| 5-9 Headstone Road | ||
| Statutory Auditor | Harrow | |
| HA1 1PD | ||
| Income Statement | ||||||||
| for the year ended |
||||||||
| Notes | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Turnover | 2 | |||||||
| Cost of sales | ( |
( |
||||||
| Gross profit | ||||||||
| Administrative expenses | ( |
( |
||||||
| Other operating income | ||||||||
| Operating profit | 3 | |||||||
| Interest payable | 6 | ( |
( |
|||||
| Profit on ordinary activities before taxation | ||||||||
| Tax on profit on ordinary activities | 7 | ( |
( |
|||||
| Profit for the financial year | ||||||||
| Statement of Comprehensive Income | |||||||
| for the year ended |
|||||||
| Notes | 2024 | 2023 | |||||
| £ | £ | ||||||
| Profit for the financial year | |||||||
| Other comprehensive income | |||||||
| Total comprehensive income for the year | |||||||
| Statement of Financial Position | |||||||
| as at |
|||||||
| Notes | 2024 | 2023 | |||||
| £ | £ | ||||||
| Fixed assets | |||||||
| Tangible assets | 8 | ||||||
| Current assets | |||||||
| Debtors | 9 | ||||||
| Cash at bank and in hand | |||||||
| Creditors: amounts falling due within one year | 10 | ( |
( |
||||
| Net current assets | |||||||
| Total assets less current liabilities | |||||||
| Creditors: amounts falling due after more than one year | 11 | ( |
( |
||||
| Provisions for liabilities | |||||||
| Deferred taxation | 13 | ( |
( |
||||
| Net assets | |||||||
| Capital and reserves | |||||||
| Called up share capital | 14 | ||||||
| Profit and loss account | 15 | ||||||
| Total equity | |||||||
| Mr J Keller | |||||||
| Director | |||||||
| Approved by the board on |
|||||||
| Statement of Changes in Equity | ||||||||||
| for the year ended |
||||||||||
| Share | Share | Other | Profit | Total | ||||||
| capital | premium | reserves | and loss | |||||||
| account | ||||||||||
| £ | £ | £ | £ | £ | ||||||
| At 1 January 2023 | - | - | ( |
( |
||||||
| Profit for the financial year | - | - | - | 3,827,527 | 3,827,527 | |||||
| At 31 December 2023 | 200 | - | - | 1,143,755 | 1,143,955 | |||||
| At 1 January 2024 | - | - | ||||||||
| Profit for the financial year | - | - | - | |||||||
| At 31 December 2024 | - | - | ||||||||
| Statement of Cash Flows | |||||
| for the year ended |
|||||
| Notes | 2024 | 2023 | |||
| £ | £ | ||||
| Operating activities | |||||
| Profit for the financial year | 205,538 | 3,827,527 | |||
| Adjustments for: | |||||
| Interest payable | 6 | 17,445 | 91,055 | ||
| Tax on profit on ordinary activities | 7 | 149,428 | 232,256 | ||
| Depreciation | 8 | 40,194 | 35,155 | ||
| Decrease/(increase) in debtors | 9 | 855,893 | (5,086,893) | ||
| (Decrease)/increase in creditors | 10 | (1,884,671) | 2,557,870 | ||
| ( |
|||||
| Interest paid | ( |
( |
|||
| Corporation tax paid | ( |
( |
|||
| Cash (used in)/generated by operating activities | ( |
||||
| Investing activities | |||||
| Payments to acquire tangible fixed assets | 8 | ( |
( |
||
| Proceeds from sale of tangible fixed assets | 8 | ||||
| Cash used in investing activities | ( |
( |
|||
| Financing activities | |||||
| Repayment of loans | ( |
||||
| Cash (used in)/generated by financing activities | ( |
||||
| Net cash (used)/generated | |||||
| Cash (used in)/generated by operating activities | ( |
||||
| Cash used in investing activities | ( |
( |
|||
| Cash (used in)/generated by financing activities | ( |
||||
| Net cash (used)/generated | ( |
||||
| Cash and cash equivalents at 1 January | 2,311,571 | 956,435 | |||
| Cash and cash equivalents at 31 December | 1,412,029 | 2,311,571 | |||
| Cash and cash equivalents comprise: | |||||
| Cash at bank | |||||
| OSF Digital UK Limited | ||||||||
| Notes to the Accounts | ||||||||
| for the year ended 31 December 2024 | ||||||||
| 1 | Summary of significant accounting policies | |||||||
| Basis of preparation | ||||||||
| Going concern | ||||||||
| The financial statements have been prepared on a going concern basis. The company has made a profit during the year and had net assets of £1,349,493 at the year end. The directors have prepared budget projections for the foreseeable future, considering uncertain trading environment. In addition, the company is reliant on its parent company as well as other companies within the group for funds to support its working capital. The parent company has pledged continued support for the company for at least 12 months from the date of the approval of these financial statements and in particular will not seek repayment of the amounts currently made available. This should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payments. As with any company placing reliance on other related parties for financial support, that there are no certainty that this support will continue although at the date of approval of these financial statements, there is no reason to believe that they will not do so. On this basis, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. |
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| Significant judgements and estimates | ||||||||
| In the application of the company's accounting policies, the management is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements and estimates involved in the preparation of the financial statements. |
||||||||
| Turnover | ||||||||
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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| Tangible fixed assets | ||||||||
| Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: | ||||||||
| Plant and machinery | 33% straight line | |||||||
| Equipment | 33% straight line | |||||||
| The loss arising on the disposal of an asset is determined as the difference between the sale proceeds and he carrying value of the asset, and is charged to profit and loss account. | ||||||||
| Taxation | ||||||||
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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| Cash and cash equivalents | ||||||||
| Cash and cash equivalents comprise cash at bank and in hand, short term deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are defined as short term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. | ||||||||
| Provisions | ||||||||
| Foreign currency translation | ||||||||
At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
||||||||
| Leased assets | ||||||||
| Pensions | ||||||||
| 2 | Analysis of turnover | 2024 | 2023 | |||||
| £ | £ | |||||||
| Sales | ||||||||
| By geographical market: | ||||||||
| UK | ||||||||
| Europe | ||||||||
| Rest of world | ||||||||
| 3 | Operating profit | 2024 | 2023 | |||||
| £ | £ | |||||||
| This is stated after charging: | ||||||||
| Depreciation of owned fixed assets | ||||||||
| Auditors' remuneration for audit services | ( |
|||||||
| Direct expenses | ||||||||
| 4 | Staff costs | 2024 | 2023 | |||||
| £ | £ | |||||||
| Wages and salaries | ||||||||
| Social security costs | ||||||||
| Pension costs | - | 4,000 | ||||||
| 5 | Average number of employees during the year | Number | Number | |||||
| Administration | ||||||||
| Operations | ||||||||
| Sales and marketing | ||||||||
| 6 | Interest payable | 2024 | 2023 | |||||
| £ | £ | |||||||
| Bank loans | ||||||||
| 7 | Taxation | 2024 | 2023 | |||||
| £ | £ | |||||||
| Analysis of charge in period | ||||||||
| Current tax: | ||||||||
| UK corporation tax on profits of the period | ||||||||
| Adjustments in respect of previous periods | - | |||||||
| Deferred tax: | ||||||||
| Origination and reversal of timing differences | - | |||||||
| Tax on profit on ordinary activities | ||||||||
| Factors affecting tax charge for period | ||||||||
| The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows: | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| Profit on ordinary activities before tax | ||||||||
| £ | £ | |||||||
| Profit on ordinary activities multiplied by the standard rate of corporation tax | ||||||||
| Effects of: | ||||||||
| Expenses not deductible for tax purposes | ||||||||
| Capital allowances for period in excess of depreciation | ( |
|||||||
| Utilisation of tax losses | - | ( |
||||||
| Pension contribution paid | (65) | (2,832) | ||||||
| Adjustments to tax charge in respect of previous periods | - | |||||||
| Current tax charge for period | ||||||||
| 8 | Tangible fixed assets | |||||||
| Plant and machinery | Fixtures, fittings, tools and equipment | Total | ||||||
| £ | £ | £ | ||||||
| Cost or valuation | ||||||||
| At 1 January 2024 | ||||||||
| Additions | - | |||||||
| Disposals | ( |
- | ( |
|||||
| At 31 December 2024 | ||||||||
| Depreciation | ||||||||
| At 1 January 2024 | ||||||||
| Charge for the year | ||||||||
| On disposals | ( |
- | ( |
|||||
| At 31 December 2024 | ||||||||
| Carrying amount | ||||||||
| At 31 December 2024 | ||||||||
| At 31 December 2023 | ||||||||
| 9 | Debtors | 2024 | 2023 | |||||
| £ | £ | |||||||
| Trade debtors | ||||||||
| Amounts owed by group undertakings | ||||||||
| Prepayments and accrued income | ||||||||
| Other debtors | ||||||||
| 10 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
| £ | £ | |||||||
| Bank loans | ||||||||
| Trade creditors | ||||||||
| Amounts owed to group undertakings | ||||||||
| Taxation and social security costs | ||||||||
| Accruals and deferred income | ||||||||
| 11 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
| £ | £ | |||||||
| Bank loans | ||||||||
| Amounts owed to group undertakings | - | |||||||
| 12 | Loans | 2024 | 2023 | |||||
| £ | £ | |||||||
| Analysis of maturity of debt: | ||||||||
| Within one year or on demand | ||||||||
| Between one and two years | ||||||||
| Between two and five years | ||||||||
| 13 | Deferred taxation | 2024 | 2023 | |||||
| £ | £ | |||||||
| Accelerated capital allowances | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| At 1 January | ||||||||
| Charged to the profit and loss account | - | |||||||
| At 31 December | ||||||||
| 14 | Share capital | Nominal | 2024 | 2024 | 2023 | |||
| value | Number | £ | £ | |||||
| Allotted, called up and fully paid: | ||||||||
| £ |
||||||||
| £ |
||||||||
| 15 | Profit and loss account | 2024 | 2023 | |||||
| £ | £ | |||||||
| At 1 January | ( |
|||||||
| Profit for the financial year | ||||||||
| At 31 December | ||||||||
| 16 | Operating Lease commitments | |||||||
| Lessee | ||||||||
| At the reporting end date the company had outstanding commitments for future minimum lease payments under non- cancellable operating leases, which fall due as follows: | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| Falling due: | ||||||||
| Within one year | - | |||||||
| Between two and five years | - | |||||||
| - | ||||||||
| 17 | Related party transactions | |||||||
During the year, the company made purchases from group companies amounting to £10,651,804 (2023 : £7,754,201). The transactions were conducted under normal commercial terms. Included within creditors due within one year is an amount of £3,825,873 (2023: £3,120,916) owed to its group companies. Included within creditors due over one year is an amount of £Nil (2023: £2,568,521) owed to its group companies. Included within debtors is an amount of £461,895 (2023: £4,472,012) from its group companies. |
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| 18 | Controlling party | |||||||
| 19 | Presentation currency | |||||||
| 20 | Legal form of entity and country of incorporation | |||||||
| OSF Digital UK Limited is a private company limited by shares and incorporated in England and Wales. | ||||||||
| 21 | Principal place of business | |||||||
| The address of the company's principal place of business and registered office is: | ||||||||
| First Floor | ||||||||
| 28-30 Worship Street | ||||||||
| London | ||||||||
| EC2A 2AH | ||||||||