OSSORY DEVELOPMENT CORPORATION LIMITED

Registered number

04911986

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2026

PAGES FOR FILING WITH REGISTRAR

OSSORY DEVELOPMENT CORPORATION LIMITED

CONTENTS



Page

Balance sheet	1 - 2

Notes to the financial statements	3 - 7

OSSORY DEVELOPMENT CORPORATION LIMITED

Balance Sheet

as at 30 March 2026
Company Registration No.	04911986


Restated
Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		489			733
Investments	4		-			2,765,148
			489			2,765,881

Current assets
Stocks		3,500,000			3,500,000
Debtors	5	912,622			5,119,547
Investments held as current assets		30,000			30,000
Cash at bank and in hand		7,915			70,087
		4,450,537			8,719,634

Creditors: amounts falling due within one year	6	(3,683,226)			(1,167,027)

Net current assets			767,311			7,552,607

Total assets less current liabilities			767,800			10,318,488

Creditors: amounts falling due after more than one year	7		(18,313)			(6,075,399)

Provisions for liabilities			(598,944)			(598,944)


Net assets			150,543			3,644,145

Capital and reserves
Called up share capital			1			1
Profit and loss account			150,542			3,644,144

Shareholder's funds			150,543			3,644,145


The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The profit and loss account has not been delivered to the Registrar of Companies.



…………………………………..
Tobias James Atkinson
Director

Approved by the board on 12 May 2026

OSSORY DEVELOPMENT CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2026



1	Accounting policies

	Basis of preparation
	These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to the small companies regime. The disclosure requirements of section 1A have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical convention. The principal accounting policies adopted are set out below.

	Going concern
	The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	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:

	Fixtures, fittings and equipment	20% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost include all costs incurred in bringing the stocks to their present location and condition. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

	Financial instruments
	The company only enters into basic financial statements transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial instruments are recognised in the company's balance sheet date when the company becomes party to the contractual provisions of the instruments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective of impairments found, an impairment loss is recognised in profit and loss accounts. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

	Basic financial assets
	Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried amortised cost using effective interest method, less any impairment.

	Derecognition of financial assets
	Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

	Basic financial liabilities
	Basic financial liabilities, including creditors, bank loans, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using effective interest method. Financial liabilities classified as payable within one year are not amortised.

	Derecognition of financial liabilities
	Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

	Cash and cash equivalents
	Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with financial institutions, and other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

	Taxation
	The tax expense represents the sum of the tax currently payable and deferred tax.

	Current tax
	The current tax payable is based on taxable profit for the year. Taxable profit differs from net profit reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

	Deferred tax
	Deferred tax liabilities are generally recognised for all timing differences and 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 profits. Such assets and liabilities are not recognised if the timing differences arises from goodwill or from the initial recognition of the assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the assets is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities relate to taxes levied by the same tax authority.

2	Employees		2026		2025
Number				Number

	Average number of persons employed by the company		2		2


3	Tangible fixed assets
					Fixtures, fittings and equipment
£
	Cost
	At 31 March 2025				11,547
	At 30 March 2026				11,547

	Depreciation
	At 31 March 2025				10,814
	Charge for the year				244
	At 30 March 2026				11,058

	Net book value
	At 30 March 2026				489
	At 30 March 2025				733

4	Investments property



£
	Cost
	At 31 March 2025				2,765,148
	Transfer to group undertakings				(2,765,148)

	At 30 March 2026				-

Restated
5	Debtors		2026		2025
£				£

	Directors' current account		-		2,948,664
	Other debtors		912,622		2,170,883
			912,622		5,119,547


Restated
6	Creditors: amounts falling due within one year		2026		2025
£				£

	Loans		5,135		5,111
	Trade creditors		1,028		10,016
	Corporation tax		32,720		995,174
	Other taxes and social security costs		40,712		26,896
	Other creditors		2,921,086		129,830
	Directors' current account		682,545		-
			3,683,226		1,167,027

	Included in other creditors is an amount of £744,444 due to Combined Counties Properties Limited. The loan is secured by way of a fixed and floating charge created on 31 March 2026 in favour of Combined Counties Properties Limited securing all monies due or to become due from the company against property 24-50 Ossory Road, London, SE1 5AN.


Restated
7	Creditors: amounts falling due after one year		2026		2025
£				£

	Loans		18,313		6,075,399


8	Prior year adjustment

	During the year the opening investment property, stocks, closing work in progress, directors' loan account balance, corporation tax, purchases, long term loan, and other debtor's balance were restated, because of prior year adjustments. The company's capital and reserves balance was not affected by these adjustments. The impact of the prior year's adjustments to the financial statements are as follows: Investment property increased by £443,398. Stocks decreased by £443,398. Other debtors decreased by £219,375. Corporation tax liability decreased by £219,375. Directors' loan account decreased by £650,000. Long term loan decreased by £650,000. Closing work in progress decreased by £443,398. Purchase decreased by £443,398.


9	Related party transactions

	During the year, the company distributed a property to Town & Beach (SW3) Limited. The transaction was undertaken as part of a group reorganisation. No consideration was received in respect of the distirbution. The transaction was completed at fair market value of the property and no balances were outstanding at the year end.


10	Other information

	Ossory Development Corporation Limited is a private company limited by shares and incorporated in England and Wales. The registered office is: Level 5A, Maple House, 149 Tottenham Court Road, London, W1T 7NF.