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REGISTERED NUMBER: 03169565 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

OSBORNE ENERGY LIMITED

OSBORNE ENERGY LIMITED (REGISTERED NUMBER: 03169565)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


OSBORNE ENERGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr A R Dyas
Mr J Puttick





REGISTERED OFFICE: Freedom Works - The Palace Workspace
1-3 Robertson Street
Hastings
East Sussex
TN34 1HN





REGISTERED NUMBER: 03169565 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

OSBORNE ENERGY LIMITED (REGISTERED NUMBER: 03169565)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 134,543 107,251
Investments 5 1 1
134,544 107,252

CURRENT ASSETS
Stocks 6 120,525 316,180
Debtors 7 1,563,155 2,186,462
Cash at bank and in hand 2,495,591 990,546
4,179,271 3,493,188
CREDITORS
Amounts falling due within one year 8 877,132 716,646
NET CURRENT ASSETS 3,302,139 2,776,542
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,436,683

2,883,794

PROVISIONS FOR LIABILITIES 9 29,308 5,204
NET ASSETS 3,407,375 2,878,590

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 3,407,373 2,878,588
SHAREHOLDERS' FUNDS 3,407,375 2,878,590

OSBORNE ENERGY LIMITED (REGISTERED NUMBER: 03169565)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:




Mr A R Dyas - Director



Mr J Puttick - Director


OSBORNE ENERGY LIMITED (REGISTERED NUMBER: 03169565)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Osborne Energy 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover 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.
Short leasehold - 20% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

OSBORNE ENERGY LIMITED (REGISTERED NUMBER: 03169565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
Cost
At 1 April 2023 - 110,244 -
Additions 21,108 - 7,107
At 31 March 2024 21,108 110,244 7,107
Depreciation
At 1 April 2023 - 82,283 -
Charge for year 22 4,194 40
At 31 March 2024 22 86,477 40
Net book value
At 31 March 2024 21,086 23,767 7,067
At 31 March 2023 - 27,961 -

OSBORNE ENERGY LIMITED (REGISTERED NUMBER: 03169565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 April 2023 140,143 22,627 273,014
Additions 25,988 7,344 61,547
At 31 March 2024 166,131 29,971 334,561
Depreciation
At 1 April 2023 66,428 17,052 165,763
Charge for year 24,712 5,287 34,255
At 31 March 2024 91,140 22,339 200,018
Net book value
At 31 March 2024 74,991 7,632 134,543
At 31 March 2023 73,715 5,575 107,251

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
Cost
At 1 April 2023
and 31 March 2024 1
Net book value
At 31 March 2024 1
At 31 March 2023 1

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 114,854 192,780
Work-in-progress 5,671 123,400
120,525 316,180

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,017,264 1,613,665
Amounts owed by group undertakings 450,597 508,829
Other debtors 95,294 63,968
1,563,155 2,186,462

OSBORNE ENERGY LIMITED (REGISTERED NUMBER: 03169565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 416,908 485,166
Amounts owed to associates - 38,231
Taxation and social security 238,661 109,857
Other creditors 221,563 83,392
877,132 716,646

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 29,308 5,204

Deferred
tax
£   
Balance at 1 April 2023 5,204
Provided during year 24,104
Balance at 31 March 2024 29,308

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2,000 Ordinary £.001 2 2

11. ULTIMATE CONTROLLING PARTY

The ultimate holding company is Osborne Holdings Ltd by virtue of the fact that it holds 100% of the ordinary share capital of the company.