REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 March 2024 |
for |
NYETIMBER MIDCO LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 March 2024 |
for |
NYETIMBER MIDCO LIMITED |
NYETIMBER MIDCO LIMITED (REGISTERED NUMBER: 14191674) |
Contents of the Financial Statements |
for the year ended 30 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
NYETIMBER MIDCO LIMITED |
Company Information |
for the year ended 30 March 2024 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
NYETIMBER MIDCO LIMITED (REGISTERED NUMBER: 14191674) |
Balance Sheet |
30 March 2024 |
2024 | 2023 |
as restated |
Notes | £'000 | £'000 | £'000 | £'000 |
Fixed assets |
Investments | 5 |
Current assets |
Debtors | 6 |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 8 |
Shareholders' funds |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
NYETIMBER MIDCO LIMITED (REGISTERED NUMBER: 14191674) |
Notes to the Financial Statements |
for the year ended 30 March 2024 |
1. | Statutory information |
Nyetimber Midco Limited is a |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis as the Directors have a reasonable expectation that the Company has adequate resources for a period of at least 12 months from the date of approval of the financial statements. |
In assessing the appropriateness of the going concern basis of accounting, the Board have taken into account a number of factors including current operating performance, cash liquidity, approved budgets forecasts covering the going concern period and forecast banking compliance ratios. |
Management has prepared, and the Directors have reviewed and approved, budgets for the year ending 30 March 2025. These budgets include profit projections and cash flow forecasts. Longer term 5 year plans out to March 2028 have also been prepared and reviewed by the Board. An element of uncertainty is inherent in forecasting and key sensitivities have been considered when budgets are prepared and approved. |
Consequently, the Directors are satisfied that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. Therefore, the financial statements have been prepared on a going concern basis. |
The company has taken advantage of the exemption available under the Companies Act 2006 not to prepare consolidated financial statements because it is included in the consolidated financial statement of Nyetimber Finco Limited, which are publicly available at Companies House. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
NYETIMBER MIDCO LIMITED (REGISTERED NUMBER: 14191674) |
Notes to the Financial Statements - continued |
for the year ended 30 March 2024 |
4. | Employees and directors |
The average number of employees during the year was NIL (2023 - NIL). |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£'000 |
Cost |
At 31 March 2023 |
and 30 March 2024 |
Net book value |
At 30 March 2024 |
At 30 March 2023 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
as restated |
£'000 | £'000 |
Amounts owed by group undertakings |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
as restated |
£'000 | £'000 |
Amounts owed to group undertakings |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | as restated |
£'000 | £'000 |
Ordinary | 1 | 1,923 | 1,923 |
9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | Related party disclosures |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
NYETIMBER MIDCO LIMITED (REGISTERED NUMBER: 14191674) |
Notes to the Financial Statements - continued |
for the year ended 30 March 2024 |
11. | Ultimate controlling party |
The immediate parent company, by virtue of its 100% shareholding, is Nyetimber Finco Limited, a company registered in the United Kingdom. |
Nyetimber Finco Limited, a company registered in the United Kingdom, is the parent undertaking of the smallest group of undertakings to consolidate these financial statements. Copies of the group accounts are available from Chaddock Lane, Worsley, Greater Manchester M28 1XW. |
OMERS Administration Corporation is the ultimate controlling party of Nyetimber Finco Limited. |