REGISTERED NUMBER: OC355047 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Osborn Leisure LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs N J Osborn

Mr M L Osborn

REGISTERED OFFICE:

Chestnut Meadow Park

Ninfield Road

Bexhill On Sea

East Sussex

TN39 5JG

REGISTERED NUMBER:

OC355047 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Intangible assets

4

62,708

80,208

Tangible assets

5

175,932

206,203

Investment property

6

21,755,552

21,748,518

21,994,192

22,034,929

CURRENT ASSETS

Debtors

7

1,125,696

1,096,455

Cash at bank and in hand

88,107

603,898

1,213,803

1,700,353

CREDITORS

Amounts falling due within one year

8

5,577,149

5,644,149

NET CURRENT LIABILITIES

(4,363,346

)

(3,943,796

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,630,846

18,091,133

CREDITORS

Amounts falling due after more than one year

9

5,000

15,000

NET ASSETS ATTRIBUTABLE TO MEMBERS

17,625,846

18,076,133

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

1,401,002

1,851,289

MEMBERS' OTHER INTERESTS

Fair value reserve

12

16,224,844

16,224,844

17,625,846

18,076,133

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

1,401,002

1,851,289

Members' other interests

16,224,844

16,224,844

17,625,846

18,076,133

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 29 December 2025 and were signed by:

Mrs N J Osborn - Designated member

1.	STATUTORY INFORMATION

Osborn Leisure LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is recognised to the extent it is probable that economic benefits will flow to the company and that it can be reliably measured. Turnover is measured at the fair value of consideration received or receivable, net of discounts, rebates, VAT and other sales taxes.

Turnover from the provision of services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that consideration due will be received;

- the stage of completion of the contract at the reporting date can be measured reliably; and

- the costs incurred, or to be incurred, can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Pension costs and other post-retirement benefits

The partnership contributes to employees' pension schemes. Contributions payable are charged to the income statement in the period to which they relate.

Members

A member's share of the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.

Other operating income

Other operating income includes rent receivable from furnished holiday lets as well as campers and other holidaymakers and is recognised on an accruals basis.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 23 (2024 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

175,000

AMORTISATION

At 1 April 2024

94,792

Charge for year

17,500

At 31 March 2025

112,292

NET BOOK VALUE

At 31 March 2025

62,708

At 31 March 2024

80,208

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

47,458

104,788

372,632

23,158

548,036

Additions

-

-

2,384

-

2,384

At 31 March 2025

47,458

104,788

375,016

23,158

550,420

DEPRECIATION

At 1 April 2024

45,420

64,247

210,395

21,771

341,833

Charge for year

494

6,084

24,690

1,387

32,655

At 31 March 2025

45,914

70,331

235,085

23,158

374,488

NET BOOK VALUE

At 31 March 2025

1,544

34,457

139,931

-

175,932

At 31 March 2024

2,038

40,541

162,237

1,387

206,203

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

21,748,518

Additions

7,034

At 31 March 2025

21,755,552

NET BOOK VALUE

At 31 March 2025

21,755,552

At 31 March 2024

21,748,518

Property is shown at open market value as determined by the members.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2020

13,616,313

Valuation in 2021

3,196,838

Valuation in 2022

(124,179

)

Valuation in 2023

(464,127

)

Cost

5,530,707

21,755,552

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

21,462

28,474

Other debtors

1,104,234

1,067,981

1,125,696

1,096,455

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

4,410,000

4,410,000

Trade creditors

450,001

458,641

Taxation and social security

32,136

31,576

Other creditors

685,012

743,932

5,577,149

5,644,149

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

5,000

15,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

4,400,000

4,400,000

Bank borrowings are secured on the LLP's property.

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts to members are unsecured and would rank after other unsecured creditors in the event of a winding up.

12.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

16,224,844

13.	RELATED PARTY DISCLOSURES

At the balance sheet date the partnership was owed £1,053,062 (2024 - £1,042,062) by an LLP with the same members. The balance is unsecured, interest free and repayable on demand.

The partnership also owed amounts to a different LLP that shares the same members totalling £202,752 (2024 - £262,752) at the balance sheet date. The balance is unsecured, interest free and repayable on demand.

At the balance sheet date the partnership owed amounts totalling £419,657 (2024 - £419,657) to a company where the members are directors and shareholders. The balance is unsecured, interest free and repayable on demand.