REGISTERED NUMBER: 09248298 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

OSC Sales Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

836,547

-

Tangible assets

5

349,516

434,508

1,186,063

434,508

CURRENT ASSETS

Stocks

1,647,333

2,328,528

Debtors

6

1,232,623

913,363

Cash at bank and in hand

427,817

239,432

3,307,773

3,481,323

CREDITORS

Amounts falling due within one year

7

(991,714

)

(1,187,958

)

NET CURRENT ASSETS

2,316,059

2,293,365

TOTAL ASSETS LESS CURRENT LIABILITIES

3,502,122

2,727,873

CREDITORS

Amounts falling due after more than one year

8

-

(33,827

)

PROVISIONS FOR LIABILITIES

(47,841

)

(75,295

)

NET ASSETS

3,454,281

2,618,751

CAPITAL AND RESERVES

Called up share capital

60,976

50,000

Share premium

739,024

-

Retained earnings

2,654,281

2,568,751

SHAREHOLDERS' FUNDS

3,454,281

2,618,751

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

Mr G Dunn - Director

1.	STATUTORY INFORMATION

OSC Sales Ltd is a private company, limited by shares, registered in England, registration number 09248298. The company's registered office is Unit 14B-14C Eurolink Industrial Centre, Upper Field Road, Sittingbourne, Kent, ME10 3UP.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods in respect of sale of fasteners and wood connectors, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of two years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

25% on cost and 10% on cost

Plant and machinery etc

-

33% on cost and 25% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

Additions

750,000

111,547

861,547

At 31 December 2024

750,000

111,547

861,547

AMORTISATION

Charge for year

25,000

-

25,000

At 31 December 2024

25,000

-

25,000

NET BOOK VALUE

At 31 December 2024

725,000

111,547

836,547

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

183,352

491,376

674,728

Additions

-

47,399

47,399

At 31 December 2024

183,352

538,775

722,127

DEPRECIATION

At 1 January 2024

28,028

212,192

240,220

Charge for year

18,094

114,297

132,391

At 31 December 2024

46,122

326,489

372,611

NET BOOK VALUE

At 31 December 2024

137,230

212,286

349,516

At 31 December 2023

155,324

279,184

434,508

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

114,300

DEPRECIATION

At 1 January 2024

33,176

Charge for year

28,572

At 31 December 2024

61,748

NET BOOK VALUE

At 31 December 2024

52,552

At 31 December 2023

81,124

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

841,528

672,238

Other debtors

391,095

241,125

1,232,623

913,363

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

67,232

151,405

Hire purchase contracts

25,237

25,237

Trade creditors

207,595

302,511

Taxation and social security

384,957

445,132

Other creditors

306,693

263,673

991,714

1,187,958

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

-

33,827

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

67,232

151,405

Hire purchase contracts

25,237

59,064

92,469

210,469

Balances due in relation to hire purchase agreements are secured against the assets to which they relate.

The bank loan is secured by a fixed and floating charge over the assets of the company in favour of Bank of Scotland PLC.