Abbreviated Company Accounts - OSBORNE PROPERTY COMPANY LIMITED

OSBORNE PROPERTY COMPANY LIMITED - Company Information

03410460 OSBORNE PROPERTY COMPANY LIMITED 2014-07-31 false 2013-08-01 2014-07-31 true 03410460 2013-08-01 2014-07-31 03410460 2014-07-31 03410460 2013-07-31 03410460 uk-gaap-cd-bus:Director1 2013-08-01 2014-07-31 03410460 uk-gaap-cd-bus:Director2 2013-08-01 2014-07-31 uk-gaap-cd-bus:Director3 2013-08-01 2014-07-31 uk-gaap-cd-bus:Director3 2014-07-31 uk-gaap-cd-bus:Director3 2013-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-07-31 iso4217:GBP shares

Registered Number 03410460

OSBORNE PROPERTY COMPANY LIMITED

Abbreviated Accounts

31 July 2014

OSBORNE PROPERTY COMPANY LIMITED Registered Number 03410460

Abbreviated Balance Sheet as at 31 July 2014

	Notes	2014	2013
		£	£
Fixed assets
Investments	2	60,000	60,000
		60,000	60,000
Current assets
Debtors		406,352	426,097
Cash at bank and in hand		30	29
		406,382	426,126
Creditors: amounts falling due within one year		(44,731)	(35,240)
Net current assets (liabilities)		361,651	390,886
Total assets less current liabilities		421,651	450,886
Total net assets (liabilities)		421,651	450,886
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		421,551	450,786
Shareholders' funds		421,651	450,886

For the year ending 31 July 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 April 2015

And signed on their behalf by:
Mr Simon Lea, Director

OSBORNE PROPERTY COMPANY LIMITED Registered Number 03410460

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Tangible assets depreciation policy
Investment assets are stated at cost less provision for permanent diminution in value.

Other accounting policies
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Prior year adjustment
On 5 May 2014 Prime Seascape Limited invoiced Osborne Property Company Limited for £28,000 in respect of professional services provided in connection with the company's former property. This expenditure was incurred during the year ended 31 July 2013, prior to the disposal of the property, and therefore should have been included in last year's accounts. The comparative figures have been restated. The effect of this is as follows:
Profit and loss reserves reduced by £22,400.
Trade creditors increased by £28,000.
Corporation tax creditor reduced by £5,600.

2Fixed assets Investments
Participating interests
2014 - £60,000
2013 - £60,000

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100

4Transactions with directors

Name of director receiving advance or credit:	Mr Simon Lea
Description of the transaction:	Interest free loan
Balance at 1 August 2013:	£ 29,333
Advances or credits made:	£ 11,748
Advances or credits repaid:	£ 41,081
Balance at 31 July 2014:	£ 0