Osgood Inventories Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08939696 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 March 2017

for

Osgood Inventories Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G Carter

REGISTERED OFFICE:

1st Floor

21 Victoria Road

Surbiton

Surrey

KT6 4JZ

REGISTERED NUMBER:

08939696 (England and Wales)

FIXED ASSETS

Property, plant and equipment

4

8,871

-

CURRENT ASSETS

Debtors

5

55,070

69,771

Cash at bank

58,356

41,471

113,426

111,242

CREDITORS

Amounts falling due within one year

6

(107,027

)

(110,461

)

NET CURRENT ASSETS

6,399

781

TOTAL ASSETS LESS CURRENT LIABILITIES

15,270

781

PROVISIONS FOR LIABILITIES

(1,685

)

-

NET ASSETS

13,585

781

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7

13,485

681

SHAREHOLDERS' FUNDS

13,585

781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2017 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 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 director on 1 November 2017 and were signed by:

G Carter - Director

1.	STATUTORY INFORMATION

Osgood Inventories Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Company has transitioned to section 1A "Small Entities" of Financial Reporting Standard 102 from 31 March

2016. Transition had no material impact.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

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.

Property, plant and equipment - 25% straight line basis.

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 2 (2016 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

Additions

11,348

At 30 March 2017

11,348

DEPRECIATION

Charge for year

2,477

At 30 March 2017

2,477

NET BOOK VALUE

At 30 March 2017

8,871

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.17

30.3.16

£

£

Trade debtors

55,070

69,771

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.17

30.3.16

£

£

Trade creditors

-

771

Taxation and social security

19,383

23,728

Other creditors

87,644

85,962

107,027

110,461

7.

RESERVES

Retained

earnings

£

At 31 March 2016

681

Profit for the year

42,879

Dividends

(30,075

)

At 30 March 2017

13,485

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £16,541 (2016 - £34,898) were paid to the director .

9.	ULTIMATE CONTROLLING PARTY

The controlling party is G Carter.