Obsurvant Ltd - Period Ending 2021-12-31

Obsurvant Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 4

Obsurvant Ltd

(Registration number: 13231010)
Balance Sheet as at 31 December 2021

	Note	2021 £
Fixed assets
Tangible assets	4	2,808
Current assets
Debtors	5	16,510
Cash at bank and in hand		87,683
		104,193
Creditors: Amounts falling due within one year	6	(7,851)
Net current assets		96,342
Net assets		99,150
Capital and reserves
Called up share capital		2
Share premium reserve		92,470
Retained earnings		6,678
Shareholders' funds		99,150

For the financial period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 June 2022 and signed on its behalf by:
 

......................................... Mr A O B Morrison Director

Obsurvant Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2021 to 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Runway East Bristol Bridge 1 Victoria Street
Redcliffe
Bristol
BS1 6AA
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of market research services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Obsurvant Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2021 to 31 December 2021

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office Equipment	25% Striaght Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
Additions	2,995	2,995
At 31 December 2021	2,995	2,995
Depreciation
Charge for the period	187	187
At 31 December 2021	187	187
Carrying amount
At 31 December 2021	2,808	2,808

Obsurvant Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2021 to 31 December 2021

5

Debtors

Current	2021 £
Trade debtors	7,209
Prepayments	7,230
Other debtors	2,071
	16,510

6

Creditors

Creditors: amounts falling due within one year

	2021 £
Due within one year
Trade creditors	5,179
Taxation and social security	706
Other creditors	1,966
	7,851