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Registration number: 11366446

11 Group Holdings Limited

Annual Report and Unaudited Financial Statements

for the Period from 31 May 2022 to 31 March 2023

 

11 Group Holdings Limited

Contents

Company Information

1

Directors' Report

2

Statement of Income and Retained Earnings

3

Statement of Financial Position

4 to 5

Notes to the Unaudited Financial Statements

6 to 10

 

11 Group Holdings Limited

Company Information

Directors

Mr G Metcalf

Mr C P Metcalf

Registered office

The Colony
Altrincham Road
Wilmslow
Cheshire
SK9 4LY

Accountants

Beever and Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL

 

11 Group Holdings Limited

Directors' Report for the Period from 31 May 2022 to 31 March 2023

The directors present their report and the financial statements for the period from 31 May 2022 to 31 March 2023.

Directors of the company

The directors who held office during the period were as follows:

Mr G Metcalf

Mr C P Metcalf

Principal activity

The principal activity of the company is holding company.

CEO Statement

2023 was an exceptional year for us at 11 Group Holdings Ltd.
The dedication and hard work has enabled us to build a stable group of businesses with interests in Property,Mental Health, Wellbeing and Sport.

The previous 5 years have been focused not only on building each business on solid foundations but increasing our Social Impact amongst our Primary User Group and the communities we serve.

We are pleased to report agreement has been reached to sell the remaining 40% shares in Auxesia Homes Ltd with completion due Q2 2023

We are very proud of the work carried out in Auxesia Homes Ltd which saw completion on over 500 New Build Homes with 500 under construction,over 65% of those homes were delivered to Military Veterans,NHS and Emergency Service Personel.

Our aim now is to continue to grow each group business via organic growth.

We remain committed to fostering a workplace culture that empowers individuals,inspires collaboration,cultivates success and drives Social Impact.

We are very proud of our business and have confidence that 2024 and beyond will bring further opportunities and success.

We wish to extend our thanks to our clients,suppliers,employees,Board members and Shareholders for their ongoing confidence in the company.

Small companies provision statement

This report has 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.

Approved by the Board on 28 August 2024 and signed on its behalf by:

.........................................
Mr G Metcalf
Director

   
     
 

11 Group Holdings Limited

Statement of Income and Retained Earnings for the Period from 31 May 2022 to 31 March 2023

2023
£

(As restated)

2022
£

Turnover

-

-

Administrative expenses

(196,866)

(8,200)

Operating loss

(196,866)

(8,200)

Loss before tax

(196,866)

(8,200)

Loss for the financial period

(196,866)

(8,200)

Retained earnings brought forward

4,258,069

4,266,269

Retained earnings carried forward

4,061,203

4,258,069

 

11 Group Holdings Limited

(Registration number: 11366446)
Statement of Financial Position as at 31 March 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

4

122,880

-

Investments

5

1,880,002

1,880,002

 

2,002,882

1,880,002

Current assets

 

Debtors

6

1,794,376

2,406,274

Cash at bank and in hand

 

286,813

-

 

2,081,189

2,406,274

Creditors: Amounts falling due within one year

7

(21,666)

(27,005)

Net current assets

 

2,059,523

2,379,269

Net assets

 

4,062,405

4,259,271

Capital and reserves

 

Called up share capital

1,202

1,202

Retained earnings

4,061,203

4,258,069

Shareholders' funds

 

4,062,405

4,259,271

For the financial period 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 accounts for the period 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.

 

11 Group Holdings Limited

(Registration number: 11366446)
Statement of Financial Position as at 31 March 2023

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.

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

.........................................
Mr G Metcalf
Director

   
     
 

11 Group Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 31 May 2022 to 31 March 2023

1

General information

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

The address of its registered office is:
The Colony
Altrincham Road
Wilmslow
Cheshire
SK9 4LY

These financial statements were authorised for issue by the Board on 28 August 2024.

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.

Consolidation

The company has taken advantage of the option not to prepare conslidated 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.

 

11 Group Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 31 May 2022 to 31 March 2023

Prior period errors

The prior period figures have been adjusted due to legal fees on sale of investment in 2021.

 

Relating to the current period disclosed in these financial statements
£

Relating to the prior period disclosed in these financial statements
£

Relating to periods before the prior period disclosed in these financial statements
£

Retained earnings brought forward

(444,406)

(444,406)

-

Profit on sale of investment

-

-

(444,406)

    

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicle

5 years straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

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.

 

11 Group Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 31 May 2022 to 31 March 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

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

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitues 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.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairement at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

141,100

141,100

At 31 March 2023

141,100

141,100

Depreciation

Charge for the period

18,220

18,220

At 31 March 2023

18,220

18,220

Carrying amount

At 31 March 2023

122,880

122,880

 

11 Group Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 31 May 2022 to 31 March 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

1,880,002

1,880,002

Subsidiaries

£

Cost or valuation

At 31 May 2022

1,880,002

Carrying amount

At 31 March 2023

1,880,002

At 30 May 2022

1,880,002

6

Debtors

Current

2023
£

(As restated)

2022
£

Other debtors

1,794,376

2,406,274

 

1,794,376

2,406,274

 

11 Group Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 31 May 2022 to 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

11,760

7,200

Other creditors

9,906

19,805

21,666

27,005

8

Related party transactions

Transactions with directors

2023

At 31 May 2022
£

Advances to director
£

At 31 March 2023
£

The loan is interest free and repayable on demand

-

533,378

533,378