Osprey Consulting Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06034579 (England and Wales)

OSPREY CONSULTING SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J P Arden

P J Giles

D W Fisher

R Connelly

A Thurlow

M Wakeman

REGISTERED OFFICE:

Suite 10 , The Hub

Fowler Avenue

Farnborough Business Park

Farnborough

GU14 7JP

REGISTERED NUMBER:

06034579 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe

Chartered Certified Accountants

Rollestone House

20-22 Bridge Street

Horncastle

Lincolnshire

LN9 5HZ

FIXED ASSETS

Property, plant and equipment

4

33,082

36,772

Investments

5

142,808

142,808

175,890

179,580

CURRENT ASSETS

Inventories

133,526

129,913

Debtors

668,500

435,415

Cash at bank and in hand

69,788

74,441

871,814

639,769

CREDITORS

Amounts falling due within one year

909,966

716,084

NET CURRENT LIABILITIES

(38,152

)

(76,315

)

TOTAL ASSETS LESS CURRENT LIABILITIES

137,738

103,265

PROVISIONS FOR LIABILITIES

6,286

6,987

NET ASSETS

131,452

96,278

CAPITAL AND RESERVES

Called up share capital

446

422

Share premium

3,074

1,538

Capital redemption reserve

10

10

Retained earnings

127,922

94,308

SHAREHOLDERS' FUNDS

131,452

96,278

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 26 September 2019 and were signed on its behalf by:

J P Arden - Director

1.	STATUTORY INFORMATION

Osprey Consulting Services Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

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 services, excluding value added tax, plus work in progress not invoiced at the period end.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate

proportion of fixed and variable overheads.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position

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.

Research and development

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to

profit or loss in the period to which they relate.

Invoice discounting

The company is partly financed through invoice discounting. Amounts due in respect of invoice discounting are included within bank

loans and overdrafts under current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2017 - 34 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1 January 2018

96,655

Additions

7,810

Disposals

(6,015

)

At 31 December 2018

98,450

DEPRECIATION

At 1 January 2018

59,883

Charge for year

9,875

Eliminated on disposal

(4,390

)

At 31 December 2018

65,368

NET BOOK VALUE

At 31 December 2018

33,082

At 31 December 2017

36,772

5.	FIXED ASSET INVESTMENTS

The company owns 100% of the share capital of gCAP Limited. The total cost in December 2017 was for £142,808 in respect of 66

Ordinary shares.

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Invoice discount facility

152,492

161,377

The company has an invoice discounting facility with Lloyds Bank. This facility is secured by an all assets debenture dated 29 April

2013.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2018 and 31 December 2017:

2018

2017

£

£

J P Arden

Balance outstanding at start of year

2,430

1,370

Amounts advanced

49,685

63,060

Amounts repaid

(51,000

)

(62,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,115

2,430

P J Giles

Balance outstanding at start of year

44,113

42,750

Amounts advanced

58,435

63,363

Amounts repaid

(51,000

)

(62,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

51,548

44,113