Obsidian Strategic Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10430940 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 17 OCTOBER 2016 TO 31 MARCH 2018

FOR

OBSIDIAN STRATEGIC LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

D M Ardley

H M J Beames

T H Martin

P W Nicholson

REGISTERED OFFICE:

Bridge House

4 Borough High Street

London Bridge

London

SE1 9QR

REGISTERED NUMBER:

10430940 (England and Wales)

AUDITORS:

RSM UK Audit LLP

25 Farringdon Street

London

EC4A 4AB

FIXED ASSETS

Tangible assets

5

8,617

CURRENT ASSETS

Debtors

6

212,258

Cash at bank

93,176

305,434

CREDITORS

Amounts falling due within one year

7

887,538

NET CURRENT LIABILITIES

(582,104

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(573,487

)

CAPITAL AND RESERVES

Called up share capital

200

Retained earnings

(573,687

)

(573,487

)

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 8 August 2018 and were signed on its behalf by:

D M Ardley - Director

1.	STATUTORY INFORMATION

Obsidian Strategic 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company is a special purpose vehicle set up for land promotion agreements. As such, the company will

show a net liability until the land has had a planning enhancement and is ultimately sold. The directors consider

that there are sufficient financial resources in place to ensure that the company is a going concern.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group or those deemed to have been transacted under

normal market conditions.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and assumptions

about the carrying value of assets and liabilities that are not readily apparent from other sources. These

estimates and underlying assumptions are based on historical experience and other factors that are considered

to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or

in the period of the revision and future periods if the revision affects both current and future periods.

There are no significant judgements or estimates included within these financial statements.

Turnover

Revenue represents management charges received or receivable, net of 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 etc

-

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.

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.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits

with an original maturity date of three months or less.

Trade and other receivables

Trade and other receivables are measured at transaction price less any impairment unless the arrangement

constitutes a financing transaction in which case the transaction is measured at the present value of the future

receipts discounted at the prevailing market rate of interest. Loans are initially measured at fair value and are

subsequently measured at amortised cost using the effective interest method less any impairment.

Trade and other payables

Trade and other payables are measured at their transaction price unless the arrangement constitutes a financing

transaction in which case the transaction is measured at present value of future payments discounted at

prevailing market rate of interest. Other financial liabilities are initially measured at fair value net of their

transaction costs. They are subsequently measured at amortised cost using the effective interest method.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

10,780

At 31 March 2018

10,780

DEPRECIATION

Charge for period

2,163

At 31 March 2018

2,163

NET BOOK VALUE

At 31 March 2018

8,617

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

212,258

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

21,057

Taxation and social security

38,888

Other creditors

827,593

887,538

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

1,206

Between one and five years

2,412

3,618

The operating leases relate to office equipment.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Howard Freedman (Senior Statutory Auditor)

for and on behalf of RSM UK Audit LLP

10.	ULTIMATE CONTROLLING PARTY

The directors do not consider there to be any one ultimate controlling party.

There is no ultimate parent company owing to equal shareholding and voting rights.