Company Registration No. 12646676 (England and Wales)
OTREBLA INVESTMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
OTREBLA INVESTMENTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
OTREBLA INVESTMENTS LTD
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
13,427,915
13,210,126
Current assets
Debtors
4
6,714,606
4,169,557
Cash at bank and in hand
34,356
204,596
6,748,962
4,374,153
Creditors: amounts falling due within one year
5
(1,347,868)
(1,742,808)
Net current assets
5,401,094
2,631,345
Total assets less current liabilities
18,829,009
15,841,471
Creditors: amounts falling due after more than one year
6
(19,095,680)
(16,894,681)
Net liabilities
(266,671)
(1,053,210)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(266,771)
(1,053,310)
Total equity
(266,671)
(1,053,210)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements in accordance with section 444 of the Companies Act 2006.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
OTREBLA INVESTMENTS LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
Mrs Samantha Alberto
Director
Company Registration No. 12646676
OTREBLA INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Otrebla Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 25 Bury Street, St. James's, London, SW1Y 6AL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Investments
Listed investments are recognised at cost and are subsequently measured at fair value through profit and loss.
1.3
Cash and cash equivalents
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.
1.4
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows:
Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost.
Where investments are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost, which includes debtors and cash, are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
OTREBLA INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. Deferred tax liabilities are included within "Provisions for liabilities" on the balance sheet.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Investments
Other investments
Cost or valuation
£
At 1 July 2023
13,210,126
Additions
768,095
Disposals
(2,036,477)
Revaluation
1,486,171
At 30 June 2024
13,427,915
Cost or valuation at 30 June 2024 is represented by:
Other investments
£
Valuation in 2024
1,486,171
Valuation in 2023
328,958
Valuation in 2022
(744,478)
Valuation in 2021
775,304
Historic cost of investments at 30 June 2024
11,581,960
13,427,915
OTREBLA INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
613,607
269,557
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
6,100,999
3,900,000
Total debtors
6,714,606
4,169,557
5
Creditors: amounts falling due within one year
2024
2023
£
£
Directors' current account
1,341,901
1,737,213
Other creditors
5,967
5,595
1,347,868
1,742,808
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Directors' loan accounts
19,095,680
16,894,681
The loan notes issued to a Director are unsecured and have a redemption date of 30 June of a calendar year beginning from the year 2041 up to and including the year 2050.
7
Related party transactions
Included within creditors are loans from directors totaling £20,437,581. Interest accrued on the principal at the Bank of England base rate plus 3% up to 9 January 2024. From the 10 January 2024 interest on the principal accrued at the lower of the Bank of England base rate plus 0.75% and 6%. At the balance sheet date interest of £1,341,901 had been accrued but not yet paid. The interest was subsequently paid in August 2024.