Registration number:
Salboy BP Limited
for the Year Ended 31 March 2023
Salboy BP Limited
(Registration number: 12200502)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors (including £5,435,561 (2022: £4,803,235) due after |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been 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
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Salboy BP Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Audit report
Exemption from preparing group accounts
The company has taken advantage of the exemption in section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that the company is included within the consolidated financial statements of their ultimate parent, Salboy Limited.
Salboy BP Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Judgements
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 revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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.
Tax
The tax expense for the period comprises current 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.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Salboy BP Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2022 |
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Additions |
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Disposals |
( |
At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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Salboy BP Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:
Proportion of voting rights |
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Undertaking |
Holding |
and shares held |
Principal Activity |
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Subsidiary undertaking |
2023 |
2022 |
||||||
Salboy BP SPV 2 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 3 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 4 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 5 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 6 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 7 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 8 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 9 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 10 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 11 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 12 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 13 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 14 Limited |
Ordinary |
0% |
100% |
Development of building projects |
||||
Salboy BP SPV 15 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 16 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 17 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 18 Limited |
Ordinary |
0% |
100% |
Development of building projects |
||||
Salboy BP SPV 19 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 20 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 21 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 22 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 23 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 24 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 25 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 26 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 27 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 28 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 29 Limited |
Ordinary |
100% |
100% |
Development of building projects |
Salboy BP Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Salboy BP SPV 30 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 31 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 32 Limited |
Ordinary |
100% |
100% |
Dormant |
||||
Salboy BP SPV 33 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 34 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 35 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 36 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 37 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 38 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 39 Limited |
Ordinary |
100% |
100% |
Development of building projects |
||||
Salboy BP SPV 40 Limited |
Ordinary |
100% |
100% |
Dormant |
||||
Salboy BP SPV 41 Limited |
Ordinary |
100% |
0% |
Development of building projects |
||||
Salboy BP SPV 42 Limited |
Ordinary |
100% |
0% |
Development of building projects |
||||
Salboy BP SPV 43 Limited |
Ordinary |
100% |
0% |
Dormant |
||||
Salboy BP SPV 44 Limited |
Ordinary |
100% |
0% |
Development of building projects |
||||
Salboy BP SPV 45 Limited |
Ordinary |
100% |
0% |
Development of building projects |
||||
Salboy BP SPV 46 Limited |
Ordinary |
100% |
0% |
Development of building projects |
||||
Salboy BP SPV 47 Limited |
Ordinary |
100% |
0% |
Development of building projects |
||||
Salboy BP SPV 48 Limited |
Ordinary |
100% |
0% |
Development of building projects |
||||
Salboy BP SPV 49 Limited |
Ordinary |
100% |
0% |
Development of building projects |
||||
Salboy BP SPV 50 Limited |
Ordinary |
100% |
0% |
Dormant |
All companies listed above hold the registered office of:
Unit 3 Birchwood One Business Park
Dewhurst Road
Birchwood
Warrington
Cheshire
WA3 7GB
Salboy BP Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Debtors |
2023 |
2022 |
|
Owed by group undertakings |
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Prepayments |
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- |
Other debtors |
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Details of non-current trade and other debtors
£5,435,561 (2022 - £4,803,235) of 'Owed by group undertakings' is classified as non current.
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Due within one year |
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Loans and borrowings |
- |
|
Trade creditors |
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Owed to group undertakings |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
- |
|
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Owed to group undertakings |
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4,177,830 |
4,396,115 |
Included within Loans and borrowings is £nil (2022: £17,926,170) in relation to a loan which is secured by fixed and floating charge 16 March 2020 over all present and future freehold or leasehold land and all intellectual property of the company. The floating charge covers all property or undertaking of the company.
Related party transactions |
On 6th February 2023, a cross guarantee was created with Salboy Midco Limited in favour of Cbre Loan Services Limited. The cross guarantee created a fixed and floating charge over all present and future leasehold land and all property or undertaking of the company.
Salboy BP Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Parent and ultimate parent undertaking |
The company's immediate parent is Salboy Midco Limited, a company incorporated in England and Wales, company number 14525541, registered office Unit 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, United Kingdom, WA3 7GB.
The ultimate parent is Salboy Limited, a company incorporated in England and Wales, company number 09123542, registered office Unit 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, United Kingdom, WA3 7GB.
These financial statements are consolidated within the group financial statements of Salboy Limited. Copies of the consolidated financial statements are available on request from Unit 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, United Kingdom, WA3 7GB.
The shareholders of Salboy Limited are considered to be the controlling parties.
The company has taken advantage of the exemption from disclosure of intra group transactions in accordance with FRS102 paragraph 33.1A.
Non adjusting events after the financial period |
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