Company registration number 11403717 (England and Wales)
SEVILLE HOLDINGS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SEVILLE HOLDINGS LTD
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 6
SEVILLE HOLDINGS LTD
COMPANY INFORMATION
- 1 -
Directors
Mrs V H Grimley
(Appointed 9 October 2023)
Mr R A Seville
(Appointed 9 October 2023)
Mr M O Whitehead
(Appointed 9 October 2023)
Company number
11403717
Registered office
Haigh Avenue
Whitehill Industrial Estate
Stockport
Cheshire
UK
SK4 1NU
Auditor
Xeinadin Audit Limited
Riverside House, Kings Reach Business Park
Yew Street
Stockport
Cheshire
United Kingdom
SK4 2HD
SEVILLE HOLDINGS LTD
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
4,548,377
4,548,377
Current assets
Debtors
5
354
427
Cash at bank and in hand
3,355
1,095
3,709
1,522
Creditors: amounts falling due within one year
6
-
0
(4,539,799)
Net current assets/(liabilities)
3,709
(4,538,277)
Total assets less current liabilities
4,552,086
10,100
Creditors: amounts falling due after more than one year
7
(4,541,986)
-
0
Net assets
10,100
10,100
Capital and reserves
-
-
Called up share capital
8
10,100
10,100

The directors of the company have 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 by the board of directors and authorised for issue on 19 September 2024 and are signed on its behalf by:
Mrs V H Grimley
Mr R A Seville
Director
Director
Mr M O Whitehead
Director
Company registration number 11403717 (England and Wales)
SEVILLE HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Seville Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Haigh Avenue, Whitehill Industrial Estate, Stockport, Cheshire, UK, SK4 1NU.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of VRM Holdings Ltd. These consolidated financial statements are available from its registered office, Haigh Avenue, Whitehill Industrial Estate, Stockport, SK4 1NU.

1.2
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.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.3
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.

1.4
Financial instruments
SEVILLE HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

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

2023
2022
Number
Number
Total
2
2
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
4,548,377
4,548,377
SEVILLE HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Boole's Tools & Pipe Fittings Limited
1
Ordinary £1 Shares
100.00

Registered office addresses (all UK unless otherwise indicated):

 

1    Haigh Avenue, Whitehill Industrial Estate, Reddish, Stockport, Cheshire, UK, SK4 1NU.

The principal activity of Boole's Tools & Pipe Fittings Limited is that of supplying ferrous and non-ferrous tubes, valves, fittings, flanges and allied pipeline products to second and third tier merchants, coupled with the manufacture of tubular products.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
354
427
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
-
0
255,499
Amounts owed to group undertakings
-
0
4,213,193
Other creditors
-
0
71,107
-
0
4,539,799
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to group undertakings
4,541,986
-
0
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,100
10,100
10,100
10,100
SEVILLE HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
9
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.

Senior Statutory Auditor:
Nichola Coles (FCCA)
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
19 September 2024
10
Related party transactions

Summary of transactions with subsidiaries

 

At the balance sheet date the amount owed to Boole's Tools & Pipe Fittings Ltd was £4,483,986 (2022: £4,212,193). This amount is interest free and due in one year and one day on a rolling basis.

 

Summary of transactions with parent company

 

At the balance sheet date the amount owed to VRM Holdings Ltd was £58,000 (2022: £Nil). This amount is interest free and due in one year and one day on a rolling basis.

11
Parent company

The company's ultimate parent undertaking is VRM Holdings Limited, a company registered and incorporated in the United Kingdom.

 

The largest group in which the results of the company are consolidated is headed by VRM Holdings Limited, a company registered in the United Kingdom. Copies of the financial statements are available from Haigh Avenue, Whitehill Industrial Estate, Stockport, England, United Kingdom, SK4 1NU.

 

At the balance sheet date, in the opinion of the directors there is no ultimate controlling party as no

shareholder holds an overall majority.

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