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Company registration number: 14556242







FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2023


CUFFE HOLDINGS NO 1 LTD






































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CUFFE HOLDINGS NO 1 LTD
 


 
COMPANY INFORMATION


Director
A C Cowdery (appointed 23 December 2022)




Registered number
14556242



Registered office
131-133 Red Lion Road
Surbiton

Surrey

KT6 7RP




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


CUFFE HOLDINGS NO 1 LTD
 



CONTENTS



Page
Balance Sheet
1
Notes to the Financial Statements
2 - 3


 


CUFFE HOLDINGS NO 1 LTD
REGISTERED NUMBER:14556242



BALANCE SHEET
AS AT 31 DECEMBER 2023

Period ended 31 December 2023
Note
£

Fixed assets
  

Investments
 4 
18,092,000

  
18,092,000

  

Total assets less current liabilities
 5 
 
18,092,000

  

Net assets
  
18,092,000


Capital and reserves
  

Called up share capital 
  
18,092,000

  
18,092,000


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A C Cowdery
Director

Date: 16 September 2024

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 


CUFFE HOLDINGS NO 1 LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Cuffe Holdings No 1 Limited is a private company limited by shares incorporated in England and Wales. Details of the company's registered office can be found on the company information page.
The company was incorporated on 23rd December 2022, and presents its accounts for the period ended 31 December 2023. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company is not providing consolidated financial statements in line with section 399 of Companies Act 2006. At the end of the financial period, the company qualifies for the small companies regime. This is because the company is small and a member of a small group.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in ordinary shares.

 
2.5

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised
when paid. Final equity dividends are recognised when approved by the shareholders at a general meeting.

Page 2

 


CUFFE HOLDINGS NO 1 LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

3.


Employees




The average monthly number of employees, including directors, during the period was 1.


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
20,092,000


Disposals
(2,000,000)



At 31 December 2023
18,092,000




The Company was incorporated on 23 December 2022 in one of the steps for the restructuring of the Cuffe group. It acquired all of the shares of Cuffe Holdings Limited on17 April 2023  in exchange for an issue of its own shares.
 
On 19 September 2023, Cuffe Holdings Limited transferred its shareholding in Cuffe Plc to Cuffe Holdings No 1 Limited by way of a dividend in specie and on 15 November 2023, the shareholding was transferred to Cuffe Holdings No 2 Ltd through a tripartite agreement involving the company, Cuffe Holdings No. 2 Ltd and its shareholder.


5.


Share capital

2023
£
Allotted, called up and fully paid


18,092,000 Ordinary shares of £1 each
18,092,000





6.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 19 September 2024 by Sophie Said FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 3