Company Registration No. 10453724 (England and Wales)
Ostensio Limited
Unaudited accounts
for the year ended 31 March 2020
Ostensio Limited
Unaudited accounts
Contents
Ostensio Limited
Company Information
for the year ended 31 March 2020
Directors
A Naghshineh
S Naghshineh
Company Number
10453724 (England and Wales)
Registered Office
15 The Close
Norwich
Norfolk
NR1 4DZ
United Kingdom
Ostensio Limited
Statement of financial position
as at 31 March 2020
Investment property
178,500
178,500
Cash at bank and in hand
28
292
Creditors: amounts falling due within one year
(208,179)
(205,872)
Net current liabilities
(190,937)
(197,427)
Total assets less current liabilities
(12,437)
(18,927)
Provisions for liabilities
Deferred tax
(1,832)
(1,832)
Net liabilities
(14,269)
(20,759)
Profit and loss account
(14,269)
(20,759)
Shareholders' funds
(14,269)
(20,759)
For the year ending 31 March 2020 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2021 and were signed on its behalf by
A Naghshineh
Director
Company Registration No. 10453724
Ostensio Limited
Notes to the Accounts
for the year ended 31 March 2020
Ostensio Limited is a private company, limited by shares, registered in England and Wales, registration number 10453724. The registered office is 15 The Close, Norwich, Norfolk, NR1 4DZ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes of goods provided to customers and work carried out in respect of services provided to customers.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax liabilities arising from gains on the revaluation of investment property are recognised in full.
Deferred tax assets arising from unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future profits or the future reversal of deferred tax liabilities.
FRS102 required the individual components of tax expense or tax benefit to be allocated to the profit and loss, where appropriate these are disclosed in the notes to the accounts.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 April 2019
178,500
The investment property has been valued on an open market value by the Directors of the company as at 31 March 2020.
Ostensio Limited
Notes to the Accounts
for the year ended 31 March 2020
Trade debtors
17,214
8,153
Total debtors
17,214
8,153
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Creditors: amounts falling due within one year
2020
2019
Amounts owed to group undertakings and other participating interests
199,934
198,833
Taxes and social security
245
39
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Transactions with related parties
The company operates a loan account with RCP Parking Limited, a company in which the ultimate controlling parties are A Naghshineh and S Naghshineh. At the end of the year, Ostensio limited owed a total of £194,352 (2019: £193,352).
The company operates a loan account with Targetfollow Estates Ltd a company in which the ultimate controlling party is A Naghshineh. At the end of the year, Ostensio limited owed a total of £5,582 (2019: £5,482). In the year recharges of £Nil (2019: £422) were made by Targetfollow Estates Limited to Ostensio limited.
As at the Balance sheet date, the immediate controlling party was Mercantem Limited, a company registered in England and Wales. Copies of financial statements may be obtained from companies house. The ultimate controlling party is the shareholder and a director of Targetfollow Group Limited, A Naghshineh.
The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is Targetfollow Group Ltd, whose registered address is 11-12 Riverside Road, Norwich, NR1 1SQ. Consolidated accounts are available from Companies House.
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Post balance sheet events
On 1 April 2020, the company was sold to a related company RCP Parking Limited, a company registered in England and Wales, whose address is 15 The Close, Norwich,NR1 4DZ. The ultimate controlling party of RCP Parking Ltd are the shareholders and directors S Naghshineh and A Naghshineh.
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Average number of employees
During the year the average number of employees was 0 (2019: 0).
