Company registration number 11972897 (England and Wales)
ECO-1 HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ECO-1 HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 6
ECO-1 HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
31 December 2023
31 October 2022
Notes
£
£
£
£
Fixed assets
Investments
3
-
0
5,100,000
Capital and reserves
Called up share capital
4
1
5,100,000
Profit and loss reserves
(1)
-
0
Total equity
-
0
5,100,000

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved and signed by the director and authorised for issue on 3 September 2024
Mr J D Belcher
Director
Company registration number 11972897 (England and Wales)
ECO-1 HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 November 2021
5,100,000
-
0
5,100,000
Year ended 31 October 2022:
Profit and total comprehensive income
-
685,811
685,811
Dividends
-
(685,811)
(685,811)
Balance at 31 October 2022
5,100,000
-
0
5,100,000
Period ended 31 December 2023:
Profit and total comprehensive income
-
-
0
-
0
Dividends
-
(5,100,000)
(5,100,000)
Reduction of shares
4
(5,099,999)
5,099,999
-
Balance at 31 December 2023
1
(1)
-
0
ECO-1 HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

ECO-1 Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Aldridge Prime, 200 Rookery Lane, Aldridge, Walsall, West Midlands, WS9 8NP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

ECO-1 Holdings Limited is a wholly owned subsidiary of ECO-1 Group Limited and the results of ECO-1 Holdings Limited are included in the consolidated financial statements of ECO-1 Group Limited which are available from Companies House.

1.2
Going concern

The truedirector has considered the going concern status of the company. Following a group reorganisation, the company has ceased to hold any assets. As such, the director does not consider the going concern basis to be appropriate. As the company does not expect to trade in its own right in the future, these financial statements have therefore not been prepared on this basis.

1.3
Reporting period

The company has extended its period end to 31 December 2023 to align with other group members. The current reporting period is for the 14 months ended 31 December 2023. The comparative reporting period is for the 12 month period ended 31 October 2022. Comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ECO-1 HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

31 December
31 October
2023
2022
Number
Number
Total
-
0
-
0
3
Fixed asset investments
31 December
31 October
2023
2022
£
£
Shares in group undertakings and participating interests
-
0
5,100,000
ECO-1 HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
3
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 November 2022
5,100,000
Disposals
(5,100,000)
At 31 December 2023
-
Carrying amount
At 31 December 2023
-
At 31 October 2022
5,100,000

Following a group reorganisation during the financial period, the company has transferred its fixed asset investments on 15 December 2023 to ECO-1 Group Limited, the ultimate parent company of the group.

4
Called up share capital
31 December
31 October
31 December
31 October
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of £1 each
1
2,550,000
1
2,550,000
Ordinary 'E' shares of £1 each
-
2,550,000
-
2,550,000
1
5,100,000
1
5,100,000

On 15 December 2023 the issued share capital of the company was reduced from 5,100,000 A and E ordinary shares of £1.00 each to 1 A ordinary share of £1.00 by cancelling and extinguishing 5,099,999 of the issued ordinary shares of £1.00 each in the company.

5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The auditor's report included an emphasis of matter paragraph as follows -

Emphasis of matter - financial statements prepared on a basis other than going concern

We draw attention to note 1 to the financial statements which confirms the director's expectation that the company will no longer trade and hold any assets. As such the director does not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern. Our opinion is not modified in respect of this matter.

ECO-1 HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
5
Audit report information
(Continued)
- 6 -
Senior Statutory Auditor:
David Webb FCA
Statutory Auditor:
Edwards
Date of audit report:
3 September 2024
6
Parent company

The company is a subsidiary undertaking of ECO-1 Group Limited, a company incorporated in England and Wales, which is the immediate and ultimate parent undertaking.

 

ECO-1 Group Limited is the largest and smallest group for which group financial statements are prepared. The group financial statements are available to the public and may be obtained from Companies House.

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