In compliance with section s414c of the Companies act 2006, the directors present their Strategic report for the period ended 31 December 2024. This strategic report outlines The Columbo Group Limited's key objectives, strategies, and action plans. It provides a framework for growth, sustainability, and value creation in a dynamic and competitive market.

The Columbo Group Limited is a diversified company with interests in the UK hospitality sector. Our vision is to be a market leader in each of our chosen sectors, delivering exceptional products and services to our customers.

2024 Performance Review

Market conditions in the year were turbulent however the Group achieved robust results and managed to grow the business in the hospitality industry. During the year, turnover increased by 6% from £9,187,354 to £9,777,458.

The Board considers profitability to be the main key performance indicator and reviews this regularly to assess. The company reported a profit for the year totaling £2,704,117 (2023: £263,119 loss). The main contributors to the increased performance were:

• Reduction in the impairment losses on the company’s investment property.

• Dividend income received from related undertakings

• Final insurance contributions received in respect of the COVID-19 pandemic.

The directors consider that the performance of the companyand the resulting financial performance to be satisfactory.

The principal risks and uncertainties facing the company are outlined in point 5 of the Strategic Priorities below.

Our strategic priorities for 2025 are:

1.    Growth and Expansion:

• Expand customer base through targeted marketing.

• Introduce new revenue streams like improved offerings or event hosting.

• Explore expansion opportunities.

2.    Operational Excellence:

• Implement technology solutions for cost management and staff scheduling.

• Optimize supply chain and procurement processes.

• Implement cost-saving technologies (e.g., energy management systems)

• Optimise staffing with flexible scheduling models.

3.    Customer Focus:

• Develop unique experiences and curate diverse events.

• Leverage social media and loyalty programs for better engagement.

• Introduce new food & beverage menus, themed events, and enhance customer experience.

4.    Talent Management:

• Offer competitive compensation and benefits.

• Foster a positive work environment with training and development opportunities.

• Prioritise employee wellbeing and career development.

• Build a diverse and inclusive workplace.

5.    Risk Management:

• Mitigate the impact of potential economic downturn on customer spending by diversifying revenue streams and maintaining flexible cost structures.

• Enhance brand differentiation, focus on customer experience, and leverage technology for innovation to manage competition.

• Address the risk of talent shortages by offering competitive compensation and benefits, investing in training and development, and creating a positive work environment.

To achieve our strategic priorities, we have developed the following action plans:

Growth and Expansion:

• Launch targeted digital campaigns.

• Explore expansion opportunities.

Operational Excellence:

• Implement cost saving technologies (e.g., energy management systems).

• Streamline procurement processes.

• Optimize staffing with flexible scheduling models.

Customer Focus:

• Introduce new food & beverage menus, themed events, and enhance customer experience.

• Develop unique experiences and curate diverse events.

• Leverage social media and loyalty programs for better engagement.

Talent Management:

• Offer competitive salaries and benefits.

• Prioritise employee wellbeing and career development.

• Build a diverse and inclusive workplace.

Key Performance Indicators (KPIs)

We will track our progress towards achieving our strategic objectives using the following KPIs:

• Revenue growth (10% increase)

• Profitability

• Customer satisfaction

• Market share

• Employee engagement

• Financial performance

The Columbo Group is well-positioned to navigate the evolving hospitality landscape by focusing on targeted growth, operational efficiency, brand differentiation, and talent acquisition. This strategic plan ensures we remain a leader in the UK market, delivering outstanding experiences to our customers and creating value for our stakeholders.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 December 2024.

The principal activity of the company continued to be that of public houses, restaurants and bars.

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £1,561,055. The directors do not recommend payment of a final dividend. During the year, one of the shareholders waived their rights to a dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

In accordance with the company's articles, a resolution proposing that Grunberg & Co Limited be reappointed as auditor of the company will be put at a General Meeting.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the principal risks and uncertainties. See the Risks and Mitigation Strategies on page 1 for further information.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

We have audited the financial statements of The Columbo Group Limited (the 'company') for the year ended 31 December 2024 which comprise the income statement, the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

• the nature of the industry and sector and whether the financial results of our client differed from industry trends;

• the legal and regulatory framework that the Company operates in,focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements;

• the matters discussed among the audit engagement team during the planning process regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

Audit procedures performed included reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; discussions with the directors on their own assessment of the risks that irregularities may occur either as a result of fraud or error, their assessment of compliance with laws and regulations and whether they were aware of any instances of non-compliance, including any potential litigation or claims;performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are reasonable; inspection of relevant legal correspondence and members minutes and business rationale of any significant transactions that are unusual or outside the normal course of business.

As a result of our assessment, it is considered that there are no laws and regulations for which non-compliance may be fundamental to the operating aspects of the business. However, laws and regulations considered to have a direct effect on the financial statements included the UK Companies Act, Employment Laws, Tax and Pensions legislation and Health & Safety legislation.

No instances of material non compliance were identified. However, the likelihood of detecting irregularities,including fraud,is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls , and the nature,timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. There is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with the ISAs (UK).

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

The income statement has been prepared on the basis that all operations are continuing operations.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The Columbo Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Technology Park, Colindeep Lane, Colindale, London, United Kingdom, NW9 6BX.

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.

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 freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover for drink, door and food sales are measured at the fair value of the consideration received or receivable, excluding promotions,staff discounts, wastage and value added tax. Turnover is recognised at the point of sale.

Consultancy services are invoiced monthly to related parties for advising and promoting the venues.

Sundry sales consist mainly of listing fees. Listing fees are recorded as revenue over the term of the contract.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 statement of financial position 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.

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. Financial assets classified as receivable within one year are not amortised.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

The 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 net profit as reported in the income statement 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 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.

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 income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Freehold properties are held at valuation and not subsequently depreciated. Valuation is assessed annually, with formal valuations undertaken on a consistent basis. As such, the directors deem the residual value of the freehold properties to be in excess of their carrying values, and so no depreciation is recognised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

The fair value of investment property is reassessed by the directors on an annual basis and formally valued every 3 years. The freehold properties are formally valued every 3 years as the directors do not believe there will be a material change in value in that period. The formal valuations are provided by independent valuers who are members of RICS. Each independent valuer has the relevant professional expertise and experience in the location of the property being valued as well as the leisure industry.

All revenue has been generated in the United Kingdom.

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The actual charge/(credit) for the year can be reconciled to the expected charge/(credit) for the year based on the profit or loss and the standard rate of tax as follows:

In addition to the amount charged/(credited) to the income statement, the following amounts relating to tax have been recognised directly in other comprehensive income:

Deferred tax has been calculated using tax rates expected to apply in the period in which timing difference will reverse. The Finance Bill 2021 enacted provisions to increase the main rate of corporation tax to 25% from the previous rate of 19% from 1 April 2023.

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

Land and buildings with a carrying amount of £5,180,000 were revalued at 04/12/2024 by Davis, Coffer & Lyons, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on the profits method of valuation and the capital value per square foot. The remaining land and buildings have not been revalued in the current year but will be revalued within the 3 year cycle adopted by the company.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Investment property comprises two properties held. The fair value of the investment properties has been arrived at based Davis, Coffer & Lyons, who are not connected with the company. The valuation was made on 4 December 2024 a profits method of valuation based on fair maintainable operating profit and an appropriate multiplier.

Details of the company's associates at 31 December 2024 are as follows:

The loans are secured by the following: -

Cross company guarantee with Jazz Café Property Limited, Brixton and Mortar Limited, Belgabar (UK) Limited, The Blues Kitchen Manchester Limited, The Blues Kitchen Limited, The Blues Kitchen Brixton Limited, The Blues Kitchen East Limited, The Blues Kitchen Brixton (Leasehold) Limited, Good Saint Properties Ltd, Columbo Jazz Limited and Columbo South Limited.

First ranking debenture from The Columbo Group Limited, Jazz Café Property Limited, Brixton and Mortar Limited, Belgabar (UK) Limited, The Blues Kitchen Manchester Limited, The Blues Kitchen Limited, The Blues Kitchen Brixton Limited, The Blues Kitchen East Limited, The Blues Kitchen Brixton (Leasehold) Limited, Good Saint Properties Ltd, Columbo Jazz Limited and Columbo South Limited.

Personal guarantee (unsupported) from Mr S Ball & Mr R Shaikh limited to £2,200,000.

An assignment of insurance on the life of Steven Ian Ball and Rizwan Khaleel Shaikh for the insured sum of not less than £3,000,000.

Freehold commercial property (1st) for:

Salisbury Hotel, Grand Parade, London, N4 1JX

5 & 7 parkway and land at the back, Camden,NW1 7PG

The Oxford Public House, 256 Kentish Town Road, London, NW5 2AA

The Old Queens Head public house, 44 Essex Road London, N1 8LN

The Brighton public house, 111 and 113 Camden High Street, London, NW1 7JN

234 Cambridge Heath Road, London, E2 9NN

1A Delancey Street, London, NW1 7NL

40 Acre Lane, London, SW2 5SP

Long Leasehold commercial property (1st) For Lower Ground & Ground & First Floor, 13 Quay Street, Manchester, M3 3HN

Short Leasehold commercial property (1st) for:

5 & 7 Parkway, London, NW1 7PG

1 Delancey Street, London, NW1 7NL

Ground Floor & Basement Premises, 134-146 Curtain Road, London, EC2A 3AR

418 Brixton Road, London, SW9 7AY

40 Acre Lane, London, SW2 5SP

111-113 Camden High Street,1 Delancey Street, London, NW1 7JN

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The operating leases represent leases investment property, freehold property and leasehold property to third parties. The leases are negotiated over terms of 1-30 years. All long term leases include a provision for five-yearly upward rent reviews according to prevailing market conditions.

Other than the directors there are no key management personnel.

During the year the company entered into the following transactions with related parties:

The related party balances at year end are interest free and recoverable on demand.

The following amounts were outstanding at the reporting end date:

The related party balances at year end are interest free and recoverable on demand.

Dividends totalling £1,561,055 (2023 - £1,334,000) were paid in the year in respect of shares held by the company's directors.

The ultimate controlling party is the directors by virtue of their shareholdings in the company.

The companies reserves are as follows:

Revaluation reserve: The revaluation reserve represents non – distributable cumulative gains and losses on freehold property revaluations net of deferred tax.

Capital redemption reserve: The capital redemption reserve represents non-distributable amounts following the purchase of the company’s own shares.

Non-distributable reserve: The non-distributable reserve represent non – distributable cumulative gains and losses on investment property net of deferred tax.

Profit and loss reserves: The profit and loss reserves represent distributable cumulative profits and losses net of dividends paid and other adjustments.