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Company registration number: 03287152
Bauer Group Holdings Limited
Unaudited financial statements
31 December 2023
Bauer Group Holdings Limited
Contents
Directors and other information
Directors report
Accountant's report
Statement of income and retained earnings
Statement of financial position
Statement of cash flows
Notes to the financial statements
Bauer Group Holdings Limited
Directors and other information
Directors Mr AG McClellan
Mr David Reed
Mr Jeremy Oldroyd (Resigned 10 March 2023)
Company number 03287152
Registered office Chappell House
The Green
Datchet
Berkshire
SL3 9EH
Business address Chappell House
The Green
Datchet
Berkshire
SL3 9EH
Accountant Accendo Accountants Ltd
1st Floor
7 Lion Street
Abergavenny
Monmouthshire
NP7 5PH
Bankers National Westminster
59 High Street
Exeter
EX4 3DL
Bauer Group Holdings Limited
Directors report
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023.
Directors
The directors who served the company during the year were as follows:
Mr AG McClellan
Mr David Reed
Mr Jeremy Oldroyd (Resigned 10 March 2023)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 01 August 2024 and signed on behalf of the board by:
Mr David Reed
Director
Bauer Group Holdings Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Bauer Group Holdings Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Bauer Group Holdings Limited for the year ended 31 December 2023 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants , I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Bauer Group Holdings Limited, as a body, in accordance with the terms of my engagement letter dated 1 August 2024. My work has been undertaken solely to prepare for your approval the financial statements of Bauer Group Holdings Limited and state those matters that we have agreed to state to the board of directors of Bauer Group Holdings Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Bauer Group Holdings Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that Bauer Group Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bauer Group Holdings Limited. You consider that Bauer Group Holdings Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Bauer Group Holdings Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Accendo Accountants Ltd
Chartered Certified Accountants
1st Floor
7 Lion Street
Abergavenny
Monmouthshire
NP7 5PH
1 August 2024
Bauer Group Holdings Limited
Statement of income and retained earnings
Year ended 31 December 2023
2023 2022
Note £ £
Turnover 4 6,328,638 6,077,224
Cost of sales ( 3,477,187) ( 3,017,589)
_______ _______
Gross profit 2,851,451 3,059,635
Distribution costs ( 125,255) ( 96,771)
Administrative expenses 6,488,665 ( 8,217,351)
_______ _______
Operating profit/(loss) 5 9,214,861 ( 5,254,487)
Other interest receivable and similar income 8 91,617 31,635
Interest payable and similar expenses 9 ( 1,317,342) ( 825,440)
Profit/(loss) before taxation 7,989,136 ( 6,048,292)
Tax on profit/(loss) 10 ( 1,413,006) 1,805,613
_______ _______
Profit/(loss) for the financial year and total comprehensive income 6,576,130 ( 4,242,679)
_______ _______
Dividends declared and paid or payable during the year 11 ( 428,800) ( 4,127,800)
Retained earnings at the start of the year 31,297,122 39,667,601
_______ _______
Retained earnings at the end of the year 37,444,452 31,297,122
_______ _______
All the activities of the company are from continuing operations.
Bauer Group Holdings Limited
Statement of financial position
31 December 2023
2023 2022
Consolidated Note £ £ £ £
Fixed assets
Intangible assets 12 - -
Tangible assets 13 57,894,364 48,780,013
Investments 14 - -
_______ _______
57,894,364 48,780,013
Current assets
Debtors 15 2,457,603 1,021,154
Cash at bank and in hand 1,062,564 4,880,508
_______ _______
3,520,167 5,901,662
Creditors: amounts falling due
within one year 16 ( 3,941,305) ( 3,785,776)
_______ _______
Net current (liabilities)/assets ( 421,138) 2,115,886
_______ _______
Total assets less current liabilities 57,473,226 50,895,899
Creditors: amounts falling due
after more than one year 17 ( 16,870,286) ( 17,854,080)
Provisions for liabilities 18 ( 2,153,488) ( 739,697)
_______ _______
Net assets 38,449,452 32,302,122
_______ _______
Capital and reserves
Called up share capital 20 505,000 505,000
Capital redemption reserve 21 500,000 500,000
Profit and loss account 21 37,444,452 31,297,122
_______ _______
Shareholders funds 38,449,452 32,302,122
_______ _______
Bauer Group Holdings Limited
Statement of financial position
31 December 2023
2023 2022
Company Note £ £ £ £
Fixed assets
Investments 14 23,283,423 23,283,423
_______ _______
23,283,423 23,283,423
Current assets
Debtors 15 13,010,854 9,567,288
Cash at bank and in hand 981,447 4,833,949
_______ _______
13,992,301 14,401,237
Creditors: amounts falling due
within one year 16 (4,610,895) (6,438,665)
_______ _______
Net current (liabilities)/assets 9,381,406 7,962,572
_______ _______
Total assets less current liabilities 32,664,829 31,245,995
_______ _______
Net assets 32,664,829 31,245,995
_______ _______
Capital and reserves
Called up share capital 20 505,000 505,000
Capital redemption reserve 21 500,000 500,000
Merger Reseve 21 1,983,635 1,983,635
Profit and loss account 21 29,676,194 28,257,360
_______ _______
Shareholders funds 32,664,829 31,245,995
_______ _______
For the 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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 01 August 2024 , and are signed on behalf of the board by:
Mr David Reed Mr AG McClellan
Director Director
Company registration number: 03287152
Bauer Group Holdings Limited
Statement of cash flows
Year ended 31 December 2023
2023 2022
£ £
Cash flows from operating activities
Profit/(loss) for the financial year 6,576,130 ( 4,242,679)
Adjustments for:
Depreciation of tangible assets 60,162 52,884
Fair value adjustment of investment property ( 7,460,690) 8,169,226
Other interest receivable and similar income ( 91,617) ( 31,635)
Interest payable and similar expenses 1,317,342 825,440
Gain/(loss) on disposal of tangible assets ( 50,000) ( 900,715)
Tax on profit/loss 1,413,006 ( 1,805,613)
Accrued expenses/(income) 187,549 ( 419,498)
Changes in:
Stocks - 2,157,884
Trade and other debtors ( 1,436,449) 3,494,397
Trade and other creditors 91,817 ( 479,001)
_______ _______
Cash generated from operations 607,250 6,820,690
Interest paid ( 1,317,342) ( 825,440)
Interest received 91,617 31,635
Tax paid ( 132,186) ( 85,726)
_______ _______
Net cash (used in)/from operating activities ( 750,661) 5,941,159
_______ _______
Cash flows from investing activities
Purchase of tangible assets ( 2,913,823) ( 5,572,139)
Proceeds from sale of tangible assets 1,250,000 15,901,934
_______ _______
Net cash (used in)/from investing activities ( 1,663,823) 10,329,795
_______ _______
Cash flows from financing activities
Proceeds from borrowings ( 1,020,311) ( 8,701,833)
Payment of finance lease liabilities 45,651 ( 12,925)
Equity dividends paid ( 428,800) ( 4,127,800)
_______ _______
Net cash used in financing activities ( 1,403,460) ( 12,842,558)
_______ _______
Net increase/(decrease) in cash and cash equivalents ( 3,817,944) 3,428,396
Cash and cash equivalents at beginning of year 4,880,508 1,452,112
_______ _______
Cash and cash equivalents at end of year 1,062,564 4,880,508
_______ _______
Bauer Group Holdings Limited
Notes to the financial statements
Year ended 31 December 2023
2023 2022
£ £ £ £
Fixed assets 57,894,364 48,780,013
_______ _______
Current assets 3,196,959 5,680,145
Prepayments and accrued income 323,208 221,517
_______ _______
3,520,167 5,901,662
Creditors: amounts falling due within one year (1,719,942) (1,751,962)
_______ _______
Net current assets 1,800,225 4,149,700
_______ _______
Total assets less current liabilities 59,694,589 52,929,713
Creditors: amounts falling due after more than one year ( 16,870,286) ( 17,854,080)
Provisions for liabilities ( 2,153,488) ( 739,697)
Accruals and deferred income ( 2,221,363) ( 2,033,814)
_______ _______
Net assets 38,449,452 32,302,122
_______ _______
Capital and reserves 38,449,452 32,302,122
_______ _______