Osco Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03114420 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2022

for

Osco Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

W Battrick

SECRETARY:

M Battrick

REGISTERED OFFICE:

Unit 25 Chancery Gate

5 Goulds Close

Milton Keynes

Buckinghamshire

MK1 1EQ

REGISTERED NUMBER:

03114420 (England and Wales)

ACCOUNTANTS:

Haines Watts

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Osco Limited for the year ended 31 August 2022 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Osco Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Osco Limited and state those matters that we have agreed to state to the director of Osco Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Osco Limited and its director for our work or for this report.

It is your duty to ensure that Osco Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Osco Limited. You consider that Osco Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Osco Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

2 May 2023

FIXED ASSETS

Tangible assets

4

125,521

91,847

CURRENT ASSETS

Stocks

251,379

231,909

Debtors

5

396,046

356,359

Cash at bank

735,002

697,511

1,382,427

1,285,779

CREDITORS

Amounts falling due within one year

6

424,386

329,072

NET CURRENT ASSETS

958,041

956,707

TOTAL ASSETS LESS CURRENT LIABILITIES

1,083,562

1,048,554

CREDITORS

Amounts falling due after more than one year

7

30,833

43,334

NET ASSETS

1,052,729

1,005,220

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

8

1,052,679

1,005,170

SHAREHOLDERS' FUNDS

1,052,729

1,005,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 2 May 2023 and were signed by:

W Battrick - Director

1.	STATUTORY INFORMATION

Osco 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

20% straight line

Fixtures and fittings

-

20% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 September 2021

98,365

65,813

23,338

187,516

Additions

67,112

220

1,190

68,522

At 31 August 2022

165,477

66,033

24,528

256,038

DEPRECIATION

At 1 September 2021

36,868

51,860

6,941

95,669

Charge for year

24,429

5,692

4,727

34,848

At 31 August 2022

61,297

57,552

11,668

130,517

NET BOOK VALUE

At 31 August 2022

104,180

8,481

12,860

125,521

At 31 August 2021

61,497

13,953

16,397

91,847

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Trade debtors

327,116

277,022

Other debtors

68,930

79,337

396,046

356,359

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Bank loans and overdrafts

10,000

6,667

Trade creditors

318,868

204,305

Taxation and social security

70,601

83,950

Other creditors

24,917

34,150

424,386

329,072

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.22

31.8.21

£

£

Bank loans

30,833

43,334

31.8.22

31.8.21

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

3,334

8.

RESERVES

Retained

earnings

£

At 1 September 2021

1,005,170

Profit for the year

237,509

Dividends

(190,000

)

At 31 August 2022

1,052,679