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Registered number: 03561195
Osbourne Investments Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Price Mann Limited
Chartered Certified Accountants
Magnolia House, Spring Villa
11 Spring Villa Road
Edgware
HA8 7EB
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03561195
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 365,164 664,681
Investment Properties 5 32,250,000 32,250,000
32,615,164 32,914,681
CURRENT ASSETS
Debtors 6 6,159,583 5,124,500
Cash at bank and in hand 208,923 788,776
6,368,506 5,913,276
Creditors: Amounts Falling Due Within One Year 7 (756,743 ) (668,498 )
NET CURRENT ASSETS (LIABILITIES) 5,611,763 5,244,778
TOTAL ASSETS LESS CURRENT LIABILITIES 38,226,927 38,159,459
Creditors: Amounts Falling Due After More Than One Year 8 (10,000,000 ) (10,000,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,006,108 ) (5,067,832 )
NET ASSETS 23,220,819 23,091,627
CAPITAL AND RESERVES
Called up share capital 9 242,002 242,002
Revaluation reserve 10 9,631,629 9,631,629
Profit and Loss Account 13,347,188 13,217,996
SHAREHOLDERS' FUNDS 23,220,819 23,091,627
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For the year ending 31 December 2023 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas James
Director
2 August 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Osbourne Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03561195 . The registered office is Quattro House Acton Goods Yard, 305 Horn Lane, Acton, London, W3 0BP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents rents receivable, net of VAT.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% p.a on cost straight line basis
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
2.8. Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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2.9. Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. 
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2023 2,043,188
Additions 3,554
As at 31 December 2023 2,046,742
Depreciation
As at 1 January 2023 1,378,507
Provided during the period 303,071
As at 31 December 2023 1,681,578
Net Book Value
As at 31 December 2023 365,164
As at 1 January 2023 664,681
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 and 31 December 2023 32,250,000
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 269,583 124,500
Other debtors 240,000 -
Amounts owed by group undertakings 5,650,000 5,000,000
6,159,583 5,124,500
The amount of £5,650,000 due from group undertaking relates to Quattro Holdings Limited  ( a company owned and controlled by Mr T H James Esq ). The other debtors relates to a loan to Mr T H James. The loan was repaid on the 5th of March 2024.
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 30,498 22,078
Corporation tax 118,979 171,248
VAT 124,340 128,294
Accruals and deferred income 482,926 346,878
756,743 668,498
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 10,000,000 10,000,000
10,000,000 10,000,000
The bank loan of £10 million is secured by a legal charge over the company's investment property which has a carrying value of £32,250,000 and there is a  debenture over all the assets of the company.  The bank loan is repayable by 4th October 2027.
The bank loan bears interest at a rate of 2% over base rate.   
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 242,002 242,002
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10. Reserves
Revaluation Reserve
£
As at 1 January 2023 9,631,629
As at 31 December 2023 9,631,629
11. Related Party Transactions
During the year, the company entered into the following transaction with related parties:.
a) Included in  Debtors is an amount of £5,650,000 due from Quattro Holdings Limited,a  company which is owned and controlled by Mr T H James Esq . Osbourne Investments Limited has charged interest of £269,583 to Quattro Holdings Limited in the year 
12. Parent Company
The Company is wholly owned subsidiary of Dinemill Limited.
All of the issued share capital of Dinemill Limited is owned by Mr. T. H. James.
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