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Company Registration number: 10089987

The Osprey Management Group Limited

Annual Report and Unaudited
Financial Statements


for the Year Ended 31 December 2024

 

The Osprey Management Group Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 7

 

The Osprey Management Group Limited

Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

16,620

14,497

Current assets

 

Stocks

6

16,592

15,171

Debtors

7

188,503

153,883

Cash at bank and in hand

 

312,263

248,920

 

517,358

417,974

Creditors: Amounts falling due within one year

8

(321,877)

(340,215)

Net current assets

 

195,481

77,759

Total assets less current liabilities

 

212,101

92,256

Creditors: Amounts falling due after more than one year

8

(145,787)

(62,855)

Net assets

 

66,314

29,401

Capital and reserves

 

Called up share capital

669,478

669,478

Retained earnings

(603,164)

(640,077)

Shareholders' funds

 

66,314

29,401

 

The Osprey Management Group Limited

Balance Sheet as at 31 December 2024 (continued)

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 10089987

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 

.........................................
Mr R W Thompson
Director

 

The Osprey Management Group Limited

Notes to the 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 and Wales.

The address of its registered office is:
95 Main Road
High Harrington
Workington
CA14 4NQ

These financial statements were authorised for issue by the Board on 26 June 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 prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

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. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

 

The Osprey Management Group Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2

ACCOUNTING POLICIES (continued)

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

Fittings, fixtures and equipment

25% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

The Osprey Management Group Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 37 (2023 - 47).

4

PROFIT BEFORE TAX

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

11,318

46,993

 

The Osprey Management Group Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

5

TANGIBLE ASSETS

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

191,029

191,029

Additions

14,402

14,402

Disposals

(960)

(960)

At 31 December 2024

204,471

204,471

Depreciation

At 1 January 2024

176,532

176,532

Charge for the year

11,319

11,319

At 31 December 2024

187,851

187,851

Carrying amount

At 31 December 2024

16,620

16,620

At 31 December 2023

14,497

14,497

6

STOCKS

2024
£

2023
£

Stock on hand

16,592

15,171

7

DEBTORS

Current

2024
£

2023
£

Trade debtors

185,794

139,179

Prepayments

2,653

12,364

Other debtors

56

2,340

 

188,503

153,883

 

The Osprey Management Group Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

8

CREDITORS

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

133,154

92,675

Taxation and social security

58,743

60,550

Accruals and deferred income

-

6,318

Other creditors

129,980

180,672

321,877

340,215

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Bank loans

37,129

50,000

Related party non-current loans

108,658

12,855

145,787

62,855


Creditors include bank loans of £37,129 (2023 - £50,000) which are secured.