Company Registration No. 11490164 (England and Wales)
Osborne Acquisitions Ltd
Unaudited accounts
for the year ended 31 July 2024
Osborne Acquisitions Ltd
Unaudited accounts
Contents
Osborne Acquisitions Ltd
Company Information
for the year ended 31 July 2024
Director
Christopher William Osborne
Company Number
11490164 (England and Wales)
Registered Office
Evolution House Iceni Court
Delft Way
Norwich
NR6 6BB
United Kingdom
Accountants
Collective Concepts Accounting Ltd
Osborne Acquisitions Ltd
Statement of financial position
as at 31 July 2024
Investment property
1,470,088
1,470,088
Cash at bank and in hand
41,681
16,585
Creditors: amounts falling due within one year
(628,309)
(486,681)
Net current liabilities
(571,425)
(456,472)
Total assets less current liabilities
898,897
1,014,061
Creditors: amounts falling due after more than one year
(930,299)
(1,013,132)
Provisions for liabilities
Deferred tax
(9,256)
(9,256)
Net liabilities
(40,658)
(8,327)
Called up share capital
100
100
Fair value reserve
37,468
37,468
Profit and loss account
(78,226)
(45,895)
Shareholders' funds
(40,658)
(8,327)
For the year ending 31 July 2024 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 director acknowledges his 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 and authorised for issue on 28 April 2025 and were signed on its behalf by
Christopher William Osborne
Director
Company Registration No. 11490164
Osborne Acquisitions Ltd
Notes to the Accounts
for the year ended 31 July 2024
Osborne Acquisitions Ltd is a private company, limited by shares, registered in England and Wales, registration number 11490164. The registered office is Evolution House Iceni Court, Delft Way, Norwich, NR6 6BB, United Kingdom.
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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:
Plant & machinery
20% on cost
Motor vehicles
20% on cost
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
After reviewing the company's forecasts, the director believe that the company has adequate resources to continue in operational existence.
The director has provide a loan which isn't due for repayment and therefore the company continues to adopt the going concern basis in preparing its financial statements
Osborne Acquisitions Ltd
Notes to the Accounts
for the year ended 31 July 2024
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.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 August 2023
1,479
500
1,979
At 31 July 2024
1,479
500
1,979
At 1 August 2023
1,368
166
1,534
Charge for the year
111
100
211
At 31 July 2024
1,479
266
1,745
At 31 July 2023
111
334
445
Fair value at 1 August 2023
1,470,088
If investment properties had not been revalued, they would have been included on the historical cost basis
value of £1,483,179.82 (2023: £1,432,619.82).
Amounts falling due within one year
Other debtors
13,457
12,647
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
82,979
-
Loans from directors
540,780
485,241
Osborne Acquisitions Ltd
Notes to the Accounts
for the year ended 31 July 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
930,299
1,013,132
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Transactions with related parties
At the balance sheet date there was an amount due to the director of £540,779.79.(2023: £485,240.75)
The director has subjugated part of this loan, an amount of £471,374 in preference to any other creditors.
The ultimate controlling party is Mr Christopher William Osborne.
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Average number of employees
During the year the average number of employees was 0 (2023: 0).