REGISTERED NUMBER: 00628763 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2025

for

Osprey Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

J G Smith

A E Smith

Registered office:

Dunslow Road

Eastfield

Scarborough

North Yorkshire

YO11 3UT

Registered number:

00628763 (England and Wales)

Accountants:

Ashby Berry Coulsons Ltd

2 Belgrave Crescent

Scarborough

North Yorkshire

YO11 1UB

Fixed assets

Tangible assets

3

1,239,937

1,435,074

Current assets

Stocks

862,204

975,617

Debtors

4

795,260

798,245

Cash at bank and in hand

956,704

922,833

2,614,168

2,696,695

Creditors

Amounts falling due within one year

5

657,726

602,002

Net current assets

1,956,442

2,094,693

Total assets less current liabilities

3,196,379

3,529,767

Provisions for liabilities

230,000

280,000

Net assets

2,966,379

3,249,767

Capital and reserves

Called up share capital

7

5,637

5,637

Retained earnings

2,960,742

3,244,130

Shareholders' funds

2,966,379

3,249,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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 28 July 2026 and were signed on its behalf by:

J G Smith - Director

1.	Accounting policies

Basis of preparing the financial statements

Osprey Limited is a private company, limited by shares, incorporated in England, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities is the plastic injection moulding.

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates

The following judgements and estimates have been made in the process of applying the accounting policies:

The directors' judgement is that, overall, the risk of assumptions and uncertainty concerning the future and other key sources of estimation causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year is low.

Carrying value of stock

When calculating the stock valuation, management considers each element of stock to assess its nature and condition, and the likelihood that it will be slow-moving or become obsolescent. This method intrinsically takes into account any stock loss.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold land and buildings

- Nil / Straight line over 50 years

Tools and moulds

- Straight line over 3 years

Computer equipment

- Straight line over 4 years

Plant and machinery

- 20% reducing balance

Fixtures, fitting and equipment

- 10% reducing balance

Motor vehicles

- 33.33% reducing balance

Office equipment

- 25% reducing balance

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stock

Raw materials are stated 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 stock to its present location and condition. Cost of raw materials is calculated using the first-in, first-out formula.

The cost of finished goods is calculated by reference to selling price after deducting an appropriate margin. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Leases

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the profit and loss account.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Turnover and other income

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of manufactured goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Interest and dividends receivable

Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

Grants

Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received, using the performance model.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are

expensed as they become payable.

2.	Employees and directors

The average number of employees during the year was 47 (2024 - 43 ) .

3.	Tangible fixed assets

Freehold

Plant and

Tools and

property

machinery

moulds

£

£

£

Cost

At 1 November 2024

279,703

2,464,315

759,093

Additions

-

28,035

-

Disposals

-

(24,908

)

(11,450

)

At 31 October 2025

279,703

2,467,442

747,643

Depreciation

At 1 November 2024

-

1,372,493

749,132

Charge for year

-

224,478

4,127

Eliminated on disposal

-

(24,908

)

(11,450

)

At 31 October 2025

-

1,572,063

741,809

Net book value

At 31 October 2025

279,703

895,379

5,834

At 31 October 2024

279,703

1,091,822

9,961

Motor

Other

vehicles

assets

Totals

£

£

£

Cost

At 1 November 2024

131,013

50,673

3,684,797

Additions

26,875

8,835

63,745

Disposals

-

(5,358

)

(41,716

)

At 31 October 2025

157,888

54,150

3,706,826

Depreciation

At 1 November 2024

83,193

44,905

2,249,723

Charge for year

24,898

4,482

257,985

Eliminated on disposal

-

(4,461

)

(40,819

)

At 31 October 2025

108,091

44,926

2,466,889

Net book value

At 31 October 2025

49,797

9,224

1,239,937

At 31 October 2024

47,820

5,768

1,435,074

4.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

731,042

732,956

Other debtors

64,218

65,289

795,260

798,245

5.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

272,079

241,766

Taxation and social security

248,432

237,325

Other creditors

137,215

122,911

657,726

602,002

6.	Secured debts

Lloyds Bank Plc holds a debenture giving a fixed charge on the company's fixed assets and a floating charge on the current assets of the company.

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

5,637

Ordinary shares

£1

5,637

5,637

8.	Related party disclosures

Pandionidae Limited is regarded by directors as being the company's ultimate parent company.

Up to the year end the company continued to use freehold properties owned by its ultimate holding company rent free in its trade.

Total dividends of £591,885 were declared and paid to the parent company during the period.

9.	Ultimate controlling party

The company is considered to be under the control of the directors, namely J and A Smith.

10.	Trading period

These Accounts cover the period from 4 November 2024 to 2 November 2025 (52 weeks).