Osmax Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09063217 (England and Wales)

Financial Statements

for the Year Ended 31 May 2023

for

OSMAX LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr S P Baker

REGISTERED OFFICE:

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

REGISTERED NUMBER:

09063217 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Investments

4

153,488

149,650

CURRENT ASSETS

Debtors

5

680,177

249,386

Cash at bank

1,200,776

267,457

1,880,953

516,843

CREDITORS

Amounts falling due within one year

6

113,576

65,951

NET CURRENT ASSETS

1,767,377

450,892

TOTAL ASSETS LESS CURRENT LIABILITIES

1,920,865

600,542

PROVISIONS FOR LIABILITIES

7

3,597

6,902

NET ASSETS

1,917,268

593,640

CAPITAL AND RESERVES

Called up share capital

8

200

200

Revaluation reserve

15,333

20,707

Retained earnings

1,901,735

572,733

SHAREHOLDERS' FUNDS

1,917,268

593,640

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 29 January 2024 and were signed by:

Mr S P Baker - Director

1.	STATUTORY INFORMATION

Osmax Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	FIXED ASSET INVESTMENTS

31.5.23

31.5.22

£

£

Other investments not loans

153,488

149,650

Additional information is as follows:

Other

investments

£

COST

At 1 June 2022

and 31 May 2023

33

NET BOOK VALUE

At 31 May 2023

33

At 31 May 2022

33

Investments (neither listed nor unlisted) were as follows:

31.5.23

31.5.22

£

£

Other investments

149,617

140,479

Other Investments revaluations

3,838

9,138

153,455

149,617

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Other debtors

171,633

62,929

Directors' current accounts

508,544

186,457

680,177

249,386

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Tax

112,104

63,039

Other creditors

32

32

Accruals and deferred income

1,440

2,880

113,576

65,951

7.	PROVISIONS FOR LIABILITIES

31.5.23

31.5.22

£

£

Deferred tax

3,597

6,902

Deferred

tax

£

Balance at 1 June 2022

6,902

Provided during year

(3,305

)

Balance at 31 May 2023

3,597

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.23

31.5.22

value:

£

£

1

A Ordinary

£1

1

1

1

B Ordinary

£1

1

1

99

C Ordinary

£1

99

99

99

D Ordinary

£1

99

99

200

200

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23

31.5.22

£

£

Mr S P Baker

Balance outstanding at start of year

186,457

-

Amounts advanced

457,624

186,457

Amounts repaid

(135,537

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

508,544

186,457

As at the balance sheet date, included in debtors due within one year is £508,544 (2022: £186,457), due and payable by the director. During the period interest of £8,526 was charged on the overdrawn loan account at 2%.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S P Baker.