Baltimore Holdings Limited 11280854 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Holding company Digita Accounts Production Advanced 6.30.9574.0 true false false 11280854 2023-01-01 2023-12-31 11280854 2023-12-31 11280854 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11280854 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 11280854 bus:SmallEntities 2023-01-01 2023-12-31 11280854 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11280854 bus:FullAccounts 2023-01-01 2023-12-31 11280854 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11280854 bus:RegisteredOffice 2023-01-01 2023-12-31 11280854 bus:Director1 2023-01-01 2023-12-31 11280854 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11280854 core:Subsidiary1 2023-01-01 2023-12-31 11280854 core:Subsidiary1 2023-01-01 2023-12-31 11280854 core:Subsidiary1 1 2023-01-01 2023-12-31 11280854 core:Subsidiary1 countries:England 2023-01-01 2023-12-31 11280854 countries:EnglandWales 2023-01-01 2023-12-31 11280854 core:CostValuation 2022-12-31 11280854 2022-01-01 2022-12-31 11280854 2022-12-31 11280854 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 11280854 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 11280854 core:Subsidiary1 1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 11280854

Baltimore Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Baltimore Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Baltimore Holdings Limited

Company Information

Director

Ms Charmaine Vincent

Registered office

17th Floor Castlemead
Lower Castle Street
Bristol
BS1 3AG

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Baltimore Holdings Limited

(Registration number: 11280854)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

         

Fixed assets

   

Investments

4

 

1,545,065

1,545,065

Current assets

   

Cash at bank and in hand

 

27,926

 

29,365

Creditors: Amounts falling due within one year

5

(1,454,389)

 

(1,188,278)

Net current liabilities

   

(1,426,463)

(1,158,913)

Total assets less current liabilities

   

118,602

386,152

Creditors: Amounts falling due after more than one year

5

 

(90,846)

(358,396)

Net assets

   

27,756

27,756

Capital and reserves

   

Called up share capital

27,756

 

27,756

Total equity

   

27,756

27,756

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 18 September 2024
 

.........................................

Ms Charmaine Vincent
Director

 

Baltimore Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
17th Floor Castlemead
Lower Castle Street
Bristol
BS1 3AG

These financial statements were authorised for issue by the director on 18 September 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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.

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.

 

Baltimore Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Investments

2023
£

2022
£

Investments in subsidiaries

1,545,065

1,545,065

The company owns 100% of the issued share capital in Baltimore Consulting Limited.

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts, therefore the accounts show information about the company as an individual entity.

 

Baltimore Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Subsidiaries

£

Cost or valuation

At 1 January 2023

1,545,065

Provision

Carrying amount

At 31 December 2023

1,545,065

At 31 December 2022

1,545,065

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Baltimore Consulting Limited

17th Floor Castlemead
Lower Castle Street
Bristol
BS1 3AG

England

Ordinary share capital

100%

100%

Subsidiary undertakings

Baltimore Consulting Limited

The principal activity of Baltimore Consulting Limited is employment agency & business.

 

Baltimore Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

267,544

253,402

Amounts owed to group undertakings

6

1,186,845

934,876

 

1,454,389

1,188,278

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

90,846

358,396

 

Baltimore Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Related party transactions

Summary of transactions with subsidiaries

Baltimore Consulting Limited

Baltimore Holdings owns 100% of the share capital in Baltimore Consulting Limited.

Included within the accounts of Baltimore Consulting Limited is £25,540 (2022: £54,199) in relation to interest payable on loans included in the accounts of Baltimore Holdings Limited.

Included within the accounts of Baltimore Consulting Limited is £4,805 (2022: £3,094) in relation to loan arrangement fees payable on loans included in the accounts of Baltimore Holdings Limited.

As at the year end Baltimore Holdings Limited owed £1,186,845 (2022: £934,876) to Baltimore Consulting Limited in the form of an intercompany loan. There are no repayment terms associated with this loan and no interest is charged on the outstanding amount.

Advantage has been taken of the exemption in FRS 102 to not disclose all transactions with companies that are owned 100% by Baltimore Holdings Limited.

7 Charges on assets

National Westminster Bank PLC hold a charge dated 31 March 2022 in respect of the assets of the company.

As at the year end the company owed £358,390 (2022: £611,798) to National Westminster Bank PLC.