Registered number |
Registered number: | |||||||
Abridged Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Investments | 3 | ||||||
Current assets | |||||||
Debtors | 4 | ||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current liabilities | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
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 and the directors believe this is appropriate for the following reasons. | ||||||||
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 Beta Holdings 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. | ||||||||
Investment | ||||||||
In the Company's financial statement, investments in subsidiary undertakings are stated at cost less any impairment in value. | ||||||||
Taxation | ||||||||
Taxation comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. 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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Write back of provision of amounts due from subsidiary | ||||||||
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, by Burford Alpha Limited were assigned to Burford Beta Holdings Limited for a value of £19,000,000. Burford Beta Holdings Limited agreed to release Burford Alpha Limited 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. As a result of the restructure, Burford Beta Holdings partially released provisions it had made in respect of the intercompany loan owed to it by Burford Alpha Limited in the sum of £15,630,125. |
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Investments | ||||||||
2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Investments | |||||||
Investments in | ||||||||
subsidiary | ||||||||
undertakings | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 April 2023 | ||||||||
At 31 March 2024 | ||||||||
4 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Amounts owed by fellow group undertakings | 11,212,532 | 16,229,328 | ||||||
Other debtors | 1,053 | 6,179 | ||||||
11,213,585 | 16,235,507 | |||||||
During the year ended 31 March 2024, the company has distributed dividends of | ||||||||
£5,000,000(2023 : £3,500,000).This amount is included in the group undertaking. | ||||||||
5 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Amounts owed to fellow group undertakings | 10,968,105 | 10,968,105 | ||||||
Amounts owed to former group undertaking | 8,031,895 | 8,031,895 | ||||||
Other creditors | 47,692 | 41,627 | ||||||
19,047,692 | 19,041,627 | |||||||
6 | Other information | |||||||
Burford Beta Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Richmond House | ||||||||
Avonmouth Way, | ||||||||
Avonmouth, | ||||||||
Bristol, | ||||||||
BS11 8DE |