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
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Directors |
Mr AG McClellan |
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Mr David Reed |
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Mr Jeremy Oldroyd |
(Resigned 10 March 2023) |
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Company number |
03287152 |
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Registered office |
Chappell House |
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The Green |
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Datchet |
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Berkshire |
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SL3 9EH |
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Business address |
Chappell House |
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The Green |
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Datchet |
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Berkshire |
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SL3 9EH |
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Accountant |
Accendo Accountants Ltd |
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1st Floor |
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7 Lion Street |
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Abergavenny |
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Monmouthshire |
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NP7 5PH |
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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:
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Mr AG McClellan |
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Mr David Reed |
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Mr Jeremy Oldroyd |
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(Resigned 10 March 2023) |
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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
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2023 |
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2022 |
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Note |
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£ |
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£ |
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Turnover |
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4 |
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6,328,638 |
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6,077,224 |
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Cost of sales |
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(
3,477,187) |
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(
3,017,589) |
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_______ |
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_______ |
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Gross profit |
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2,851,451 |
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3,059,635 |
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Distribution costs |
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(
125,255) |
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(
96,771) |
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Administrative expenses |
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6,488,665 |
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(
8,217,351) |
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_______ |
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_______ |
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Operating profit/(loss) |
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5 |
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9,214,861 |
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(
5,254,487) |
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Other interest receivable and similar income |
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8 |
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91,617 |
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31,635 |
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Interest payable and similar expenses |
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9 |
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(
1,317,342) |
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(
825,440) |
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Profit/(loss) before taxation |
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7,989,136 |
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(
6,048,292) |
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Tax on profit/(loss) |
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10 |
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(
1,413,006) |
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1,805,613 |
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_______ |
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_______ |
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Profit/(loss) for the financial year and total comprehensive income |
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6,576,130 |
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(
4,242,679) |
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_______ |
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_______ |
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Dividends declared and paid or payable during the year |
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11 |
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(
428,800) |
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(
4,127,800) |
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Retained earnings at the start of the year |
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31,297,122 |
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39,667,601 |
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_______ |
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_______ |
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Retained earnings at the end of the year |
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37,444,452 |
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31,297,122 |
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_______ |
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_______ |
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All the activities of the company are from continuing operations.
Bauer Group Holdings Limited
Statement of financial position
31 December 2023
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2023 |
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2022 |
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Consolidated |
Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Intangible assets |
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12 |
- |
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- |
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Tangible assets |
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13 |
57,894,364 |
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48,780,013 |
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Investments |
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14 |
- |
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- |
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_______ |
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_______ |
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57,894,364 |
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48,780,013 |
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Current assets |
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Debtors |
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15 |
2,457,603 |
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1,021,154 |
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Cash at bank and in hand |
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1,062,564 |
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4,880,508 |
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_______ |
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_______ |
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3,520,167 |
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5,901,662 |
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Creditors: amounts falling due |
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within one year |
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16 |
(
3,941,305) |
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(
3,785,776) |
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_______ |
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_______ |
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Net current (liabilities)/assets |
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(
421,138) |
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2,115,886 |
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_______ |
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_______ |
Total assets less current liabilities |
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57,473,226 |
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50,895,899 |
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Creditors: amounts falling due |
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after more than one year |
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17 |
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(
16,870,286) |
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(
17,854,080) |
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Provisions for liabilities |
|
18 |
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(
2,153,488) |
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(
739,697) |
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_______ |
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_______ |
Net assets |
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38,449,452 |
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32,302,122 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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20 |
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505,000 |
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505,000 |
Capital redemption reserve |
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21 |
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500,000 |
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500,000 |
Profit and loss account |
|
21 |
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37,444,452 |
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31,297,122 |
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_______ |
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_______ |
Shareholders funds |
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38,449,452 |
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32,302,122 |
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_______ |
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_______ |
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Bauer Group Holdings Limited
Statement of financial position
31 December 2023
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2023 |
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2022 |
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Company |
Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Investments |
|
14 |
23,283,423 |
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23,283,423 |
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_______ |
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_______ |
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23,283,423
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23,283,423
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Current assets |
|
|
|
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|
|
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Debtors |
|
15 |
13,010,854 |
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9,567,288 |
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Cash at bank and in hand |
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|
981,447 |
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4,833,949 |
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|
_______ |
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_______ |
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|
13,992,301
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14,401,237
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Creditors: amounts falling due |
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|
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|
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within one year |
|
16 |
(4,610,895) |
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|
|
(6,438,665) |
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_______ |
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_______ |
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Net current (liabilities)/assets |
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9,381,406
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|
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7,962,572
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_______ |
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_______ |
Total assets less current liabilities |
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32,664,829
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31,245,995
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|
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|
|
|
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_______ |
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_______ |
Net assets |
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32,664,829
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|
|
|
31,245,995
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_______ |
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|
_______ |
|
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|
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|
|
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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 |
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|
|
1,983,635 |
Profit and loss account |
|
21 |
|
|
29,676,194 |
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|
28,257,360 |
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_______ |
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_______ |
Shareholders funds |
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|
32,664,829 |
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31,245,995 |
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_______ |
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_______ |
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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:
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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;
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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
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2023 |
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2022 |
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|
£ |
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£ |
|
|
|
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|
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Cash flows from operating activities |
|
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|
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Profit/(loss) for the financial year |
|
6,576,130 |
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(
4,242,679) |
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|
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Adjustments for: |
|
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|
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Depreciation of tangible assets |
|
60,162 |
|
52,884 |
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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) |
|
|
|
|
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Changes in: |
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Stocks |
|
- |
|
2,157,884 |
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Trade and other debtors |
|
(
1,436,449) |
|
3,494,397 |
|
Trade and other creditors |
|
91,817 |
|
(
479,001) |
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|
|
_______ |
|
_______ |
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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 |
|
|
|
|
_______ |
|
|
_______ |
|
|
|
|
|
|
|
|