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 2015

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 2015

- 1 -

2015

2014

Notes

€

Fixed assets

Intangible assets

390,722

599,557

Tangible assets

11,525

9,901

Investments

3,000

405,247

612,458

Current assets

Debtors

242,822

212,595

Cash at bank and in hand

205,888

168,769

448,710

381,364

Creditors: amounts falling due within one year

(1,943,354)

(1,668,479)

Net current liabilities

(1,494,644)

(1,287,115)

Total assets less current liabilities

(1,089,397)

(674,657)

Capital and reserves

Called up share capital

125

Profit and loss account

(1,089,522)

(674,782)

Shareholders' funds

(1,089,397)

(674,657)

For the financial year ended 31 December 2015 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 15 September 2016

P Mantello

Director

Company Registration No. 08088884

OSATO DISTRIBUTION WORLD LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 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 January 2015).

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 five 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

Investments

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

1.6

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.

1.7

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

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 2015

- 3 -

Fixed assets

Intangible assets

Tangible assets

Investments

Total

€

Cost

At 1 January 2015

808,391

12,653

3,000

824,044

Additions

16,562

At 31 December 2015

808,391

29,215

3,000

840,606

Depreciation

At 1 January 2015

417,669

10,386

428,055

Charge for the year

7,304

At 31 December 2015

417,669

17,690

435,359

Net book value

At 31 December 2015

390,722

11,525

3,000

405,247

At 31 December 2014

599,557

9,901

3,000

612,458

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

2015

Principal activity

€

Osato Distribution France SAS

Distribution of health-care products

31,654

3,927

Share capital

2015

2014

€

Allotted, called up and fully paid

100 Ordinary shares of €1.25 each

125