Osbourne Purdie Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 3049481

OSBOURNE PURDIE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2024

OSBOURNE PURDIE LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

OSBOURNE PURDIE LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	973	1,296
Tangible assets	6	20,192	22,078
		---------	---------
		21,165	23,374

Current assets

Debtors	7	637,039	515,233
Cash at bank and in hand		684,086	805,035
		-------------	-------------
		1,321,125	1,320,268

Creditors: amounts falling due within one year	8	( 1,002,034)		( 892,607)
		-------------		-------------
Net current assets			319,091	427,661
			----------	----------
Total assets less current liabilities			340,256	451,035

Provisions

Taxation including deferred tax	( 5,291)	( 5,838)
	----------	----------
Net assets	334,965	445,197
	----------	----------

OSBOURNE PURDIE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

	2024		2023
Note	£	£	£

Capital and reserves

Called up share capital	12,125	12,125
Share premium account	6,800	6,800
Profit and loss account	316,040	426,272
	----------	----------
Shareholders funds	334,965	445,197
	----------	----------

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 .

These financial statements were approved by the board of directors and authorised for issue on 3 September 2025 , and are signed on behalf of the board by:

T J Gardiner

Director

Company registration number: 3049481

OSBOURNE PURDIE 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 Lee Barns, Lee Lane, Maidenhead, Berks, SL6 6PE.

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 and in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Revenue recognition

The turnover shown in the profit and loss account represents the value of all work done during the period, exclusive of Value Added Tax. Turnover is recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the sale have been transferred to the customer.

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 material 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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

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:

	Trademarks	-	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.

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:

Plant & Machinery	-	25% reducing balance
Fixtures & Fittings	-	25% reducing balance
Motor Vehicles	-	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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

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 year amounted to 12 (2023: 12 ).

5. Intangible assets

	Trademarks
	£
Cost
At 1 January 2024 and 31 December 2024	3,234
	-------
Amortisation
At 1 January 2024	1,938
Charge for the year	323
	-------
At 31 December 2024	2,261
	-------
Carrying amount
At 31 December 2024	973
	-------
At 31 December 2023	1,296
	-------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	32,350	4,479	17,618	54,447
Additions	4,853	–	–	4,853
	---------	-------	---------	---------
At 31 December 2024	37,203	4,479	17,618	59,300
	---------	-------	---------	---------
Depreciation
At 1 January 2024	20,817	3,844	7,708	32,369
Charge for the year	4,100	161	2,478	6,739
	---------	-------	---------	---------
At 31 December 2024	24,917	4,005	10,186	39,108
	---------	-------	---------	---------
Carrying amount
At 31 December 2024	12,286	474	7,432	20,192
	---------	-------	---------	---------
At 31 December 2023	11,533	635	9,910	22,078
	---------	-------	---------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	520,081	417,040
Amounts owed by group undertakings and undertakings in which the company has a participating interest	63,358	1,250
Other debtors	53,600	96,943
	----------	----------
	637,039	515,233
	----------	----------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	95,442	82,297
Corporation tax	177,643	97,393
Social security and other taxes	175,282	30,357
Other creditors	553,667	682,560
	-------------	----------
	1,002,034	892,607
	-------------	----------

Other creditors includes a loan from related companies of £nil (2023 - £9,816).

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	–	25,000
	----	---------

10. Related party transactions

The company had the following transactions with related parties during the year:- Drivesense Limited Drivesense Limited is a subsidiary of Osbourne Purdie Limited. On 22 November 2024 the controlling shareholding was reduced to 83.33% During the year Drivesense Limited were charged £388,196 for management services provided by this company. There were also payroll and other costs directly recharged amounting to £171,062. At the year end Osbourne Purdie Limited was owed £63,358 from Drivesense Limited. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.

11. Controlling party

The individual controlling party is S M Davison .