Osprey Systems Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC378897

Osprey Systems Ltd

Filleted Unaudited Financial Statements

31 March 2025

Osprey Systems Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		61,118	103,667

Current assets

Stocks		18,581	37,159
Debtors	6	35,838	51,921
Cash at bank and in hand		157,166	138,555
		---------	---------
		211,585	227,635

Creditors: amounts falling due within one year	7	61,261		53,274
		---------		---------
Net current assets			150,324	174,361
			---------	---------
Total assets less current liabilities			211,442	278,028

Provisions

Taxation including deferred tax	14,594	25,157
	---------	---------
Net assets	196,848	252,871
	---------	---------

Capital and reserves

Called up share capital	99	99
Profit and loss account	196,749	252,772
	---------	---------
Shareholders funds	196,848	252,871
	---------	---------

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 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Osprey Systems Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 28 October 2025 , and are signed on behalf of the board by:

Mr R B Chalmers
Director

Company registration number: SC378897

Osprey Systems Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Upper Mains, Echt, Westhill, AB32 7AR.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

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 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.

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 and machinery	-	20% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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 2 (2024: 2 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2024	146,707	96,393	243,100
Additions	1,518	–	1,518
Disposals	( 2,750)	( 48,488)	( 51,238)
	---------	--------	---------
At 31 March 2025	145,475	47,905	193,380
	---------	--------	---------
Depreciation
At 1 April 2024	76,492	62,941	139,433
Charge for the year	14,121	1,544	15,665
Disposals	( 1,623)	( 21,213)	( 22,836)
	---------	--------	---------
At 31 March 2025	88,990	43,272	132,262
	---------	--------	---------
Carrying amount
At 31 March 2025	56,485	4,633	61,118
	---------	--------	---------
At 31 March 2024	70,215	33,452	103,667
	---------	--------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	31,061	50,913
Other debtors	4,777	1,008
	--------	--------
	35,838	51,921
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	24,890	7,193
Corporation tax	7,955	14,590
Social security and other taxes	368	2,927
Other creditors	28,048	28,564
	--------	--------
	61,261	53,274
	--------	--------