Osmaston General Property Limited - Accounts to registrar (filleted) - small 18.2
Osmaston General Property Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2018 |
| for |
| Osmaston General Property Limited |
| Osmaston General Property Limited (Registered number: 08640755) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 6 |
| Osmaston General Property Limited |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 18 St Christopher's Way |
| Pride Park |
| Derby |
| DE24 8JY |
| Osmaston General Property Limited (Registered number: 08640755) |
| Abridged Balance Sheet |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| Osmaston General Property Limited (Registered number: 08640755) |
| Abridged Balance Sheet - continued |
| 31 March 2018 |
| The financial statements were approved by the Board of Directors on its behalf by: |
| Osmaston General Property Limited (Registered number: 08640755) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Osmaston General Property Limited is a |
| 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 |
| Even though the company has made a small profit, it is showing a net current liabilities position on the |
| balance sheet, and therefore meets its day to day working capital requirements when required through |
| funds received from the directors. As such, the directors consider it appropriate to prepare the financial |
| statements on the going concern basis. |
| Turnover |
| Turnover represents rent receivable. Rent receivable is recognised when the company becomes |
| entitled to the income over the rental period. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
| changes in fair value is recognised in profit or loss. |
| No provision is made for depreciation of investment properties. This departure from the requirements |
| of the Companies Act 2006 which require all properties to be depreciated is, in the opinion of the |
| director, necessary for the financial statements to show a true and fair view in accordance with |
| applicable accounting standards. |
| Taxation |
| Taxation for the year 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 year 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2017 - NIL). |
| Osmaston General Property Limited (Registered number: 08640755) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2017 |
| and 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| The investment property was valued on an open market basis on 31 March 2018 by the directors, |
| which the directors consider to be fair value. |
| 5. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| The bank loan is secured by a first legal charge on 214 Osmaston Road, Derby and its associated |
| assets. A personal guarantee has also been given by each director. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Osmaston General Property Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's |
| annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
| only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain |
| other primary statements and the Report of the Directors are not required to be filed with the |
| Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
| the financial statements of Osmaston General Property Limited for the year ended 31 March 2018 which |
| comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's |
| accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Osmaston General Property Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Osmaston General Property Limited and state those matters that we have agreed to state to the Board of Directors of Osmaston General Property Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Osmaston General Property Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Osmaston General Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Osmaston General Property Limited. You consider that Osmaston General Property 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 financial statements of Osmaston General Property 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 financial statements. |
| Chartered Accountants |
| 18 St Christopher's Way |
| Pride Park |
| Derby |
| DE24 8JY |