Osborne Commercial Properties Limited - Period Ending 2016-09-30

Registration number: 05958503

Osborne Commercial Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

R & A Burns Limited
Chartered Certified Accountants
181-183 Summer Road
Erdington
Birmingham
B23 6DX

Osborne Commercial Properties Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Osborne Commercial Properties Limited
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Osborne Commercial Properties Limited for the year ended 30 September 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/rules-standards/acca-rulebook.html .

This report is made solely to the Board of Directors of Osborne Commercial Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Osborne Commercial Properties Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Osborne Commercial Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Osborne Commercial Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Osborne Commercial Properties Limited. You consider that Osborne Commercial Properties 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 accounts of Osborne Commercial Properties 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 accounts.

......................................

R & A Burns Limited
Chartered Certified Accountants
181-183 Summer Road
Erdington
Birmingham
B23 6DX

19 January 2017

Page 1

Osborne Commercial Properties Limited
(Registration number: 05958503)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					139,572			141,106
Current assets
Cash at bank and in hand					12,143			7,254
Creditors: Amounts falling due within one year					(51,965)			(11,316)
Net current liabilities					(39,822)			(4,062)
Total assets less current liabilities					99,750			137,044
Creditors: Amounts falling due after more than one year					(62,191)			(69,793)
Net assets					37,559			67,251
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					37,459			67,151
Shareholders' funds					37,559			67,251

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 19 January 2017 and signed on its behalf by:

.........................................
Mr. C.C. Osborne
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Osborne Commercial Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and Buildings	1% On Cost

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

The bank borrowings are secured by a charge over the commercial property.

Other creditors due after more than one year are amounts owed to the associated company Osborne Fasteners Limited.

Page 3

Osborne Commercial Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		153,377			153,377
At 30 September 2016		153,377			153,377
Depreciation
At 1 October 2015		12,271			12,271
Charge for the year		1,534			1,534
At 30 September 2016		13,805			13,805
Net book value
At 30 September 2016		139,572			139,572
At 30 September 2015		141,106			141,106

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		25,761			25,615

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 4