Obsidian Commercial Property Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 14019359 (England and Wales)

Financial Statements

for the Period 1 April 2022 to 30 April 2023

for

Obsidian Commercial Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B Smith

REGISTERED OFFICE:

4 Compton House

Buxton

SK17 9DN

REGISTERED NUMBER:

14019359 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Oaklea House

46 Coatham Road

Redcar

TS10 1RS

FIXED ASSETS

Tangible assets

3

187,735

CURRENT ASSETS

Debtors

4

188

Cash at bank

9,041

9,229

CREDITORS

Amounts falling due within one year

5

(190,161

)

NET CURRENT LIABILITIES

(180,932

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,803

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

6,802

6,803

6,803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 20 December 2023 and were signed by:

B Smith - Director

1.	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.

Freehold property

-

Not Provided

Fixtures and fittings

-

25% on cost

TAXATION

Taxation for the period 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 balance sheet date.

DEFERRED TAX

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

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

3.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

Additions

185,455

3,040

188,495

At 30 April 2023

185,455

3,040

188,495

DEPRECIATION

Charge for period

-

760

760

At 30 April 2023

-

760

760

NET BOOK VALUE

At 30 April 2023

185,455

2,280

187,735

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Prepayments and accrued income

188

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other loans (see note 6)

80,000

Corporation tax

868

Other creditors

1,634

Directors' current accounts

106,759

Accrued expenses

900

190,161

6.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due within one year or on demand:

Other loans

80,000