Company Registration No. 4365688 (England and Wales)
K Osborne Limited
Unaudited accounts
for the year ended 31 March 2022
K Osborne Limited
Unaudited accounts
Contents
K Osborne Limited
Company Information
for the year ended 31 March 2022
Directors
Kevin W Osborne
Kyle Osborne
Company Number
4365688 (England and Wales)
Registered Office
Dan-y-Coed
1 Graig-y-Fforest
Treforest
Pontypridd
CF37 1UA
Accountants
R H Jeffs & Rowe Ltd
27-28 Gelliwastad Road
Pontypridd
CF37 2BW
K Osborne Limited
Statement of financial position
as at
31 March 2022
Tangible assets
29,338
15,390
Cash at bank and in hand
5,001
6,260
Creditors: amounts falling due within one year
(17,358)
(18,458)
Net current liabilities
(6,553)
(11,298)
Total assets less current liabilities
22,785
4,092
Creditors: amounts falling due after more than one year
(10,994)
(1,445)
Called up share capital
100
100
Profit and loss account
11,691
2,547
Shareholders' funds
11,791
2,647
For the year ending 31 March 2022 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2022 and were signed on its behalf by
Kevin W Osborne
Director
Company Registration No. 4365688
K Osborne Limited
Notes to the Accounts
for the year ended 31 March 2022
K Osborne Limited is a private company, limited by shares, registered in England and Wales, registration number 4365688. The registered office is Dan-y-Coed , 1 Graig-y-Fforest , Treforest, Pontypridd, CF37 1UA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
20% reducing balance
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
K Osborne Limited
Notes to the Accounts
for the year ended 31 March 2022
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2021
29,575
1,605
31,180
Additions
23,565
-
23,565
Disposals
(11,290)
-
(11,290)
At 31 March 2022
41,850
1,605
43,455
At 1 April 2021
14,748
1,042
15,790
Charge for the year
5,534
113
5,647
On disposals
(7,320)
-
(7,320)
At 31 March 2022
12,962
1,155
14,117
At 31 March 2022
28,888
450
29,338
At 31 March 2021
14,827
563
15,390
5
Debtors: amounts falling due within one year
2022
2021
Accrued income and prepayments
38
603
6
Creditors: amounts falling due within one year
2022
2021
Obligations under finance leases and hire purchase contracts
4,492
4,082
Taxes and social security
12,226
14,149
Loans from directors
430
36
7
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
10,994
1,445
8
Average number of employees
During the year the average number of employees was 2 (2021: 2).