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Company registration number: 10003943







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


MARTELLO (HOLDINGS) LIMITED






































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MARTELLO (HOLDINGS) LIMITED
 


 
COMPANY INFORMATION


Directors
M Bottiau 
C Macklin 
C Schreurs 
N Waite (appointed 22 June 2023)




Registered number
10003943



Registered office
76 Powder Mill Lane
The Questor Estate

Dartford

DA1 1JA




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


MARTELLO (HOLDINGS) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 4


 


MARTELLO (HOLDINGS) LIMITED
REGISTERED NUMBER:10003943



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
7,346,382
7,346,382

  
7,346,382
7,346,382

Current assets
  

Debtors: amounts falling due within one year
 5 
1,607,796
1,607,796

Cash at bank and in hand
  
1,200
448

  
1,608,996
1,608,244

Creditors: amounts falling due within one year
 6 
(1,541,886)
(1,540,886)

Net current assets
  
 
 
67,110
 
 
67,358

Total assets less current liabilities
  
7,413,492
7,413,740

  

Net assets
  
7,413,492
7,413,740


Capital and reserves
  

Called up share capital 
  
785,002
785,002

Share premium account
  
59,680
59,680

Merger reserve
  
6,570,000
6,570,000

Profit and loss account
  
(1,190)
(942)

  
7,413,492
7,413,740


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
C Macklin
Director

Date: 10 April 2024

The notes on pages 3 to 4 form part of these financial statements.
Page 1

 


MARTELLO (HOLDINGS) LIMITED
REGISTERED NUMBER:10003943


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


Page 2

 


MARTELLO (HOLDINGS) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Martello (Holdings) Limited is a private company, limited by shares, incorporated and domiciled in England & Wales
within the United Kingdom. The company exists for the purpose of holding shares in group companies and does not
trade. The address of its registered office is available on the Company Information page.
These are the individual financial statements of Martello (Holdings) Limited. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company has not prepared group accounts as it is exempt from the requirement to do so by section 401 of the Companies Act 2006 as it is a subsidiary undertaking of BESIX Group s.a, a company incorporated in
Belgium. BESIX Group s.a. prepare group accounts including the financial statements of the Martello
(Holdings) Limited group.

The following principal accounting policies have been applied:

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

  
2.3

Merger reserve

The company's other reserves balance represents a merger reserve, created in the year ended 31 December
2016 on group setup. The merger reserve is the net difference between the cost of investments in subsidiaries
recognised in the accounts and the related share capital accounts of those subsidiaries.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 5).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
7,346,382



At 31 December 2023
7,346,382




Page 3

 


MARTELLO (HOLDINGS) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,607,796
1,607,796

1,607,796
1,607,796


Amounts owed by group undertakings are unsecured, interest free and repayable upon demand.


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
1,541,886
1,540,886

1,541,886
1,540,886


Amounts owed to group undertakings are unsecured, interest free and repayable upon demand.


7.


Controlling party

The immediate parent company is Franki Foundations (UK) Limited, a company registered in England and Wales.
The smallest group which prepares consolidated accounts in which these figures are included is BESIX Group s.a.
A copy of these financial statements can be obtained from;
Avenue des Communautes 
Gemeenschappenlaan 100
1200 Brussels
Belgium.
The Besix Group is 50% owned by Orascom Construction Limited, a company dual listed on the Dubai and Egypt
stock exchanges. No individual owns more than Orascom Construction Limited's shareholding and therefore the
directors consider that there is no invididual ultimate controlling party.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 10 April 2024 by Andrew Galliers FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 4