Registered number |
Registered number: | |||||||
Abridged Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Investments | 4 | ||||||
Current assets | |||||||
Debtors | 6 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 7 | ( |
( |
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Net current liabilities | ( |
( |
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Net liabilities | ( |
( |
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Capital and reserves | |||||||
Called up share capital | |||||||
Share premium | |||||||
Profit and loss account | ( |
( |
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Shareholder's funds | ( |
( |
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J Gleek | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Abridged Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Going concern | ||||||||
The financial statements have been prepared on the going concern basis, notwithstanding the | ||||||||
Company's net current liabilities, on the basis that the ultimate parent company, Burford | ||||||||
Beta Holdings Limited, has undertaken to provide continued support for a period of at | ||||||||
least twelve months from the date of approval of these financial statements. | ||||||||
Related party exemption | ||||||||
The company has taken advantage of the exemption in FRS 102 not to disclose related party | ||||||||
transactions or balances with entities which form part of the group. | ||||||||
Preparation of consolidated financial statements | ||||||||
The financial statements contain information about Burford Alpha Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399 of the Companies Act 2006 from the requirement to prepare consolidated financial statements. | ||||||||
Investments | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Current or deferred taxation assets or 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 statement of financial position date. |
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2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Loans Written off | |||||||
In April 2020 the company, together with the wider Group, entered into restructuring agreements. The amount owed to a former group undertaking, Burford Epsilon (in administration) of £209,609,000 and the amount owed to a fellow group undertaking of £414,980,000, together £624,589,000, were assigned to the immediate parent and ultimate parent undertaking, Burford Beta Holdings Limited, thus making the company indebted to Burford Beta Holdings Limited. Burford Beta Holdings Limited agreed to release the company from its obligations in respect of the debt for a consideration of £19,000,000 made up of the allotment and issue of 100 ordinary shares of £1 each at a premium of £189,999 per share. This gave rise to a write off of the loans in the sum of £605,589,000. |
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4 | Investments | |||||||
Investments in | ||||||||
subsidiary | Other | |||||||
undertakings | investments | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 31 March 2024 | - | |||||||
5 | Taxation | 2024 | 2023 | |||||
£ | £ | |||||||
UK Corporation tax for the year | - | - | ||||||
Under / (overprovision) in respect of prior years | - | - | ||||||
Deferred tax | - | - | ||||||
- | - | |||||||
6 | Debtors : Amount falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Amounts owed by fellow group undertakings | 13,767,150 | 13,666,611 | ||||||
13,767,150 | 13,666,611 | |||||||
7 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Trade creditors | 230 | 230 | ||||||
Amounts owed to former group undertaking (note 3) | 25,564,796 | 25,360,870 | ||||||
Other creditors | 30,900 | 30,900 | ||||||
25,595,926 | 25,392,000 | |||||||
8 | Retained earnings | |||||||
The retained earnings deficit are distributable reserves. | ||||||||
9 | Immediate parent and ultimate parent undertakings | |||||||
The company's immediate parent and ultimate parent undertaking is Burford Beta Holdings | ||||||||
Limited, a company incorporated in England and Wales and whose registered office is | ||||||||
Richmond House, Avonmouth Way, Avonmouth, Bristol BS11 8DE. | ||||||||
10 | Other information | |||||||
Burford Alpha Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Richmond House | ||||||||
Avonmouth Way, | ||||||||
Avonmouth | ||||||||
Bristol, | ||||||||
BS11 8DE |