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REGISTRAR OF COMPANIES

Registration number: 10876781

Osborne And Grosvenor Properties Limited

Unaudited Financial Statements

1 April 2023 to 30 September 2024

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Osborne And Grosvenor Properties Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Osborne And Grosvenor Properties Limited
for the Period Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Osborne And Grosvenor Properties Limited for the period ended 30 September 2024 as set out on pages 2 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Osborne And Grosvenor Properties Limited, as a body, in accordance with the terms of our engagement letter dated 21 September 2022. Our work has been undertaken solely to prepare for your approval the accounts of Osborne And Grosvenor Properties Limited and state those matters that we have agreed to state to the Board of Directors of Osborne And Grosvenor Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Osborne And Grosvenor Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Osborne And Grosvenor Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Osborne And Grosvenor Properties Limited. You consider that Osborne And Grosvenor Properties Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Osborne And Grosvenor Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

8 April 2025

 

Osborne And Grosvenor Properties Limited

(Registration number: 10876781)
Balance Sheet as at 30 September 2024

Note

30 September 2024
£

31 March 2023
£

Fixed assets

 

Investments

4

997,116

1,102,619

Current assets

 

Debtors

5

45,606

16,201

Cash at bank and in hand

 

25,025

11,650

 

70,631

27,851

Creditors: Amounts falling due within one year

6

(552,088)

(407,332)

Net current liabilities

 

(481,457)

(379,481)

Total assets less current liabilities

 

515,659

723,138

Creditors: Amounts falling due after more than one year

6

(252,033)

(267,436)

Net assets

 

263,626

455,702

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

263,526

455,602

Total equity

 

263,626

455,702

 

Osborne And Grosvenor Properties Limited

(Registration number: 10876781)
Balance Sheet as at 30 September 2024 (continued)

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 April 2025 and signed on its behalf by:
 

.........................................

G P Carney

Director

 

Osborne And Grosvenor Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The principal place of business is:
12 Osborne Road
SOUTHPORT
PR8 2RJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company has net current liabilities at 30 September 2024 and meets its day to day working capital requirements through support from its directors and short term loans from an LLP under common control. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its directors, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.


Government grants
Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

 

Osborne And Grosvenor Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 September 2024 (continued)

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

 

Osborne And Grosvenor Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 September 2024 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 5 (2023 - 4).

 

Osborne And Grosvenor Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 September 2024 (continued)

4

Investments

30 September 2024
£

31 March 2023
£

Investments in LLP

90,000

90,000

Loans to LLP

907,116

1,012,619

997,116

1,102,619

Investments in LLP

£

Cost or valuation

At 1 April 2023

90,000

At 30 September 2024

90,000

Provision

Carrying amount

At 30 September 2024

90,000

At 31 March 2023

90,000

Other investments

£

Cost or valuation

At 1 April 2023

1,012,619

Repayment

(105,503)

At 30 September 2024

907,116

 

Osborne And Grosvenor Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 September 2024 (continued)

5

Debtors

30 September 2024
£

31 March 2023
£

Other debtors

45,606

16,201

45,606

16,201

6

Creditors

Note

30 September 2024
£

31 March 2023
£

Due within one year

 

Loans and borrowings

7

523,906

405,832

Taxation and social security

 

1,256

-

Other creditors

 

26,926

1,500

 

552,088

407,332

Due after one year

 

Loans and borrowings

7

252,033

267,436

30 September 2024
£

31 March 2023
£

After more than five years not by instalments

245,000

245,000

245,000

245,000

 

Osborne And Grosvenor Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 September 2024 (continued)

7

Loans and borrowings

30 September 2024
£

31 March 2023
£

Current loans and borrowings

Bank borrowings

10,332

9,952

Directors' loan account

513,574

395,880

523,906

405,832

30 September 2024
£

31 March 2023
£

Non-current loans and borrowings

Bank borrowings

7,033

22,436

Other borrowings

245,000

245,000

252,033

267,436