OSATO_DISTRIBUTION_WORLD_ - Accounts

OSATO DISTRIBUTION WORLD LIMITED - Company Information

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Company Registration No. 08088884 (England and Wales)

OSATO DISTRIBUTION WORLD LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

OSATO DISTRIBUTION WORLD LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

OSATO DISTRIBUTION WORLD LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

€

Fixed assets

Intangible assets

599,557

680,396

Tangible assets

9,901

8,855

Investments

3,000

612,458

689,251

Current assets

Debtors

212,595

1,255,334

Cash at bank and in hand

168,769

12,855

381,364

1,268,189

Creditors: amounts falling due within one year

(1,668,479)

(2,207,838)

Net current liabilities

(1,287,115)

(939,649)

Total assets less current liabilities

(674,657)

(250,398)

Capital and reserves

Called up share capital

125

Profit and loss account

(674,782)

(250,523)

Shareholders' funds

(674,657)

(250,398)

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 September 2015

P Mantello

Director

Company Registration No. 08088884

OSATO DISTRIBUTION WORLD LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over ten years, which in opinion of the directors is its estimated useful life.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery etc

- 25% on cost

Motor vehicle

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into euros at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.8

Basis preparing the financial statements

The financial statements have been prepared on a going concern basis, dependent on the continued support of its related parties and a review to reduce costs. The director considers it appropriate to prepare the financial statements on a going concern basis.

1.9

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

OSATO DISTRIBUTION WORLD LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Fixed assets

Intangible assets

Tangible assets

Investments

Total

€

Cost

At 1 January 2014

808,391

14,169

822,560

Additions

6,118

3,000

9,118

At 31 December 2014

808,391

20,287

3,000

831,678

Depreciation

At 1 January 2014

127,995

5,314

133,309

Charge for the year

80,839

5,072

85,911

At 31 December 2014

208,834

10,386

219,220

Net book value

At 31 December 2014

599,557

9,901

3,000

612,458

At 31 December 2013

680,396

8,855

689,251

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Osato Distribution France SAS

France

Ordinary

60.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2014

Principal activity

€

Osato Distribution France SAS

Distribution of health-care products

27,726

22,726

Share capital

2014

2013

€

Allotted, called up and fully paid

100 Ordinary shares of €1.25 each

125