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2023-03-31
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No description of principal activities is disclosed
2022-04-01
Sage Accounts Production 21.0 - FRS102_2021
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xbrli:shares
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2022-04-01
2023-03-31
02183663
2023-03-31
02183663
2022-03-31
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2022-03-31
02183663
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02183663
2021-03-31
02183663
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02183663
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2022-04-01
2023-03-31
02183663
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2022-04-01
2023-03-31
02183663
bus:Director2
2022-04-01
2023-03-31
02183663
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2023-03-31
02183663
core:AfterOneYear
2023-03-31
02183663
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2022-03-31
02183663
core:WithinOneYear
2023-03-31
02183663
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2022-03-31
02183663
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2021-04-01
2022-03-31
02183663
core:RetainedEarningsAccumulatedLosses
2022-04-01
2023-03-31
02183663
core:ShareCapital
2023-03-31
02183663
core:ShareCapital
2022-03-31
02183663
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2023-03-31
02183663
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2022-03-31
02183663
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2023-03-31
02183663
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2022-03-31
02183663
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2021-03-31
02183663
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2021-03-31
02183663
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2021-03-31
02183663
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2023-03-31
02183663
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2023-03-31
02183663
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2022-03-31
02183663
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2023-03-31
02183663
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2023-03-31
02183663
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2023-03-31
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02183663
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2023-03-31
Company registration number:
02183663
Bold Rock Management and Investments Ltd
Unaudited financial statements
31 March 2023
Bold Rock Management and Investments Ltd
Contents
Directors and other information
Strategic report
Directors report
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Statement of cash flows
Notes to the financial statements
Bold Rock Management and Investments Ltd
Directors and other information
|
|
|
|
Directors |
Mr Mark Sater |
|
|
Miss Corinne D.L. Evens |
|
|
|
|
|
|
|
Company number |
02183663 |
|
|
|
|
|
|
|
Registered office |
C/O Severin Finance |
|
|
23 Dorset Road |
|
|
London |
|
|
SW8 1EF |
|
|
|
|
|
|
|
Accountants |
Severin Finance Limited |
|
|
23 Dorset Road |
|
|
London |
|
|
SW8 1EF |
|
|
|
Bold Rock Management and Investments Ltd
Strategic report
Year ended
31 March 2023
This report was approved by the board of directors on 19 October 2023 and signed on behalf of the board by:
Mr Mark Sater
Director
Bold Rock Management and Investments Ltd
Directors report
Year ended 31 March 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2023.
Directors
The directors who served the company during the year were as follows:
|
Mr Mark Sater |
Miss Corinne D.L. Evens |
|
Dividends
The directors do not recommend the payment of a dividend.
This report was approved by the board of directors on .............................. and signed on behalf of the board by:
Mr Mark Sater
Director
Bold Rock Management and Investments Ltd
Statement of comprehensive income
Year ended 31 March 2023
|
|
|
|
2023 |
|
2022 |
|
|
|
|
Note |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Turnover |
|
4 |
|
17,271 |
|
111,730 |
|
|
Staff costs |
|
5 |
|
(
15,932) |
|
(
3,127) |
|
|
Depreciation and other amounts written off tangible and intangible fixed assets |
|
|
|
(
346,059) |
|
(
647) |
|
|
Other operating expenses |
|
|
|
(
113,843) |
|
232,185 |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
Operating (loss)/profit |
|
|
|
(
458,563) |
|
340,141 |
|
|
|
|
|
|
|
|
|
|
|
Other interest receivable and similar income |
|
|
|
184,049 |
|
(
91,462) |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
(Loss)/profit before taxation |
|
|
|
(
274,514) |
|
248,679 |
|
|
|
|
|
|
|
|
|
|
|
Tax on (loss)/profit |
|
|
|
- |
|
- |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
(Loss)/profit for the financial year and total comprehensive income |
|
|
|
(
274,514) |
|
248,679 |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
All the activities of the company are from continuing operations.
Bold Rock Management and Investments Ltd
Statement of financial position
31 March 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Investments |
|
9 |
7,094,797 |
|
|
|
8,402,368 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
7,094,797 |
|
|
|
8,402,368 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
10 |
3,264,150 |
|
|
|
3,630,951 |
|
|
Cash at bank and in hand |
|
|
180,642 |
|
|
|
91,694 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
3,444,792 |
|
|
|
3,722,645 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
12 |
(
38,391) |
|
|
|
(
34,956) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
3,406,401 |
|
|
|
3,687,689 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
10,501,198 |
|
|
|
12,090,057 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
13 |
|
|
(
8,037,020) |
|
|
|
(
9,351,365) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
2,464,178 |
|
|
|
2,738,692 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
9,021 |
|
|
|
9,021 |
Revaluation reserve |
|
|
|
|
2,834,731 |
|
|
|
2,834,731 |
Profit and loss account |
|
|
|
|
(
379,574) |
|
|
|
(
105,060) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
2,464,178 |
|
|
|
2,738,692 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the
board of directors
and authorised for issue on
19 October 2023
, and are signed on behalf of the board by:
Mr Mark Sater
Director
Company registration number:
02183663
Bold Rock Management and Investments Ltd
Statement of changes in equity
Year ended 31 March 2023
|
|
Called up share capital |
|
Revaluation reserve |
|
Profit and loss account |
Total |
|
|
|
|
|
£ |
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 April 2021 |
|
9,021 |
|
2,834,731 |
|
(
353,739) |
2,490,013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year |
|
|
|
|
|
248,679 |
248,679 |
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
Total comprehensive income for the year |
|
- |
|
- |
|
248,679 |
248,679 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
At 31 March 2022 and 1 April 2022 |
|
9,021 |
|
2,834,731 |
|
(
105,060) |
2,738,692 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year |
|
|
|
|
|
(
274,514) |
(
274,514) |
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
Total comprehensive income for the year |
|
- |
|
- |
|
(
274,514) |
(
274,514) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
At 31 March 2023 |
|
9,021 |
|
2,834,731 |
|
(
379,574) |
2,464,178 |
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bold Rock Management and Investments Ltd
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Severin Finance, 23 Dorset Road, London, SW8 1EF.
2.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4.
Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5.
Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:
|
|
|
2023 |
2022 |
|
Production staff |
|
- |
1 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The aggregate payroll costs incurred during the year were:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Wages and salaries |
|
15,932 |
- |
|
Social security costs |
|
- |
3,127 |
|
|
|
_______ |
_______ |
|
|
|
15,932 |
3,127 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Directors remuneration
The directors aggregate remuneration in respect of qualifying services was:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Remuneration |
|
15,932 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Earnings per share
Basic earnings/(loss) per share
The earnings/(loss) and weighted average number of shares used in the calculation of basic earnings/(loss) per share are as follows:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
(Loss)/profit for the year attributable to the owners of the company |
|
(
274,514) |
248,679 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Diluted earnings/(loss) per share
The earnings/(loss) and weighted average number of shares used in the calculation of diluted earnings/(loss) per share are as follows:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Earnings/(loss) used in calculation of basic earnings/(loss) per share |
|
(
274,514) |
248,679 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Tangible assets
|
|
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
7,102 |
7,102 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
7,102 |
7,102 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2023 |
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 March 2022 |
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.
Investments
|
|
Shares in group undertakings |
Participating interests |
Total |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
1,000 |
7,093,797 |
7,094,797 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
- |
- |
- |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2023 |
1,000 |
7,093,797 |
7,094,797 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
At 31 March 2022 |
1,000 |
7,093,797 |
7,094,797 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
10.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Amounts owed by group undertakings |
|
3,264,150 |
3,636,797 |
|
Other debtors |
|
- |
(
5,846) |
|
|
|
_______ |
_______ |
|
|
|
3,264,150 |
3,630,951 |
|
|
|
_______ |
_______ |
|
|
|
|
|
11.
Cash and cash equivalents
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Cash at bank and in hand |
|
180,642 |
91,694 |
|
Bank overdrafts |
|
(
3,435) |
- |
|
|
|
_______ |
_______ |
|
|
|
177,207 |
91,694 |
|
|
|
_______ |
_______ |
|
|
|
|
|
12.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
38,391 |
34,956 |
|
|
|
_______ |
_______ |
|
|
|
|
|
13.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Amounts owed to group undertakings |
|
8,037,020 |
- |
|
Amounts owed to undertakings in which the company has a participating interest |
|
- |
9,351,365 |
|
|
|
_______ |
_______ |
|
|
|
8,037,020 |
9,351,365 |
|
|
|
_______ |
_______ |
|
|
|
|
|
14.
Analysis of changes in net debt
|
|
At 1 April 2022 |
Cash flows |
At 31 March 2023 |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Cash and cash equivalents |
91,694 |
88,948 |
180,642 |
|
|
|
|
Bank overdrafts |
- |
(3,435) |
(3,435) |
|
|
|
|
Debt due within one year |
(34,956) |
- |
(34,956) |
|
|
|
|
Debt due after one year |
(9,351,365) |
1,314,345 |
(8,037,020) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
(
9,294,627) |
1,399,858 |
(
7,894,769) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|