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Registration number: 12318711

Builtvisible Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Builtvisible Holdings Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Builtvisible Holdings Limited

(Registration number: 12318711)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2,890,997

2,890,997

Other financial assets

5

-

10,308

 

2,890,997

2,901,305

Current assets

 

Debtors

6

522

522

Creditors: Amounts falling due within one year

7

(378,032)

(362,462)

Net current liabilities

 

(377,510)

(361,940)

Total assets less current liabilities

 

2,513,487

2,539,365

Creditors: Amounts falling due after more than one year

7

-

(6,229)

Net assets

 

2,513,487

2,533,136

Capital and reserves

 

Called up share capital

817

817

Profit and loss account

2,512,670

2,532,319

Shareholders' funds

 

2,513,487

2,533,136

For the financial year ending 31 December 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 accounts for the year 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 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 25 March 2024 and signed on its behalf by:
 


Mr G Griffiths
Director

 

Builtvisible Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Timberly
South Street
Axminster
Devon
EX13 5AD

Principal activity

The principal activity of the company is that of a holding company.

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 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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Group accounts not prepared

The company has taken advantage of the option not to prepare consolidated financial statements contained in section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group..

Going concern

The financial statements have been prepared on a going concern basis.

 

Builtvisible Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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.

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Investments

2023
£

2022
£

Investments in subsidiaries

2,890,997

2,890,997

 

Builtvisible Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Investments (continued)

Subsidiaries

£

Cost or valuation

At 1 January 2023

2,890,997

Provision for impairment

Carrying amount

At 31 December 2023

2,890,997

At 31 December 2022

2,890,997

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

10,308

10,308

Disposals

(10,308)

(10,308)

At 31 December 2023

-

-

Impairment

Carrying amount

At 31 December 2023

-

-

6

Debtors

2023
£

2022
£

Other debtors

522

522

522

522

 

Builtvisible Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

125,572

-

Other creditors

 

252,460

362,462

 

378,032

362,462

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

-

6,229

8

Share-based payments

Scheme details and movements

The movements in the number of share options during the year were as follows:

2023
Number

2022
Number

Outstanding, start of period

1,600

1,653

Forfeited or exercised during the period

(705)

(53)

Outstanding, end of period

895

1,600

The movements in the weighted average exercise price of share options during the year were as follows:

2023
£

2022
£

Outstanding, start of period

47.53

47.29

Forfeited during the period

0.00

0.24

Outstanding, end of period

47.53

47.53

 

Builtvisible Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

8

Share-based payments (continued)

The total carrying amount of the liabilities arising from share-based payments at the end of the year was £12,460 (2022 - £18,691).

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

10

Related party transactions

Summary of transactions with subsidiaries

As at the end of the financial year, the company owed £125,571.51 to it's wholly owned subsidiary (2022: £nil).