COMPANY REGISTRATION NUMBER:
5231420
Beva Investments (Holdings) Limited |
|
Filleted Financial Statements |
|
Beva Investments (Holdings) Limited |
|
Statement of Financial Position |
|
31 December 2023
Fixed assets
Investments |
4 |
|
18,933,131 |
19,002,251 |
|
|
|
|
|
Current assets
Cash at bank and in hand |
1,962 |
|
1,962 |
|
------- |
|
------- |
Net current assets |
|
1,962 |
1,962 |
|
|
------------- |
------------- |
Total assets less current liabilities |
|
18,935,093 |
19,004,213 |
|
|
|
|
Provisions
Taxation including deferred tax |
|
3,618,413 |
3,635,693 |
|
|
------------- |
------------- |
Net assets |
|
15,316,680 |
15,368,520 |
|
|
------------- |
------------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
200 |
200 |
Share premium account |
|
2,499,800 |
2,499,800 |
Capital redemption reserve |
|
100 |
100 |
Profit and loss account |
|
12,816,580 |
12,868,420 |
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|
------------- |
------------- |
Shareholder funds |
|
15,316,680 |
15,368,520 |
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|
------------- |
------------- |
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|
|
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
25 September 2024
, and are signed on behalf of the board by:
Company registration number:
5231420
Beva Investments (Holdings) Limited |
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Notes to the Financial Statements |
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Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Chichester Business Centre, Chichester Street, Rochdale, Lancashire, OL16 2AU.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements There are no judgements that management have made in the process of applying the entity's accounting policies that would have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 January 2023 |
19,002,251 |
Revaluations |
(
69,120) |
|
------------- |
At 31 December 2023 |
18,933,131 |
|
------------- |
Impairment |
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At 1 January 2023 and 31 December 2023 |
– |
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------------- |
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Carrying amount |
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At 31 December 2023 |
18,933,131 |
|
------------- |
At 31 December 2022 |
19,002,251 |
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------------- |
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Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
Subsidiaries, associates and other investments
|
Registered office |
Class of share |
Percentage of shares held |
Subsidiary undertakings |
|
|
|
Beva Investments Limited |
Chichester Business Centre, Chichester Street, Rochdale, Lancashire, OL16 2AU. |
Ordinary class A |
100 |
|
|
|
|
The results and capital and reserves for the year are as follows:
|
Capital and reserves |
Profit/(loss) for the year |
|
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
Subsidiary undertakings |
|
|
|
|
Beva Investments Limited |
18,933,131 |
19,002,251 |
130,886 |
3,065,078 |
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--------- |
------------ |
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5.
Summary audit opinion
The auditor's report dated
25 September 2024
was
unqualified
.
The senior statutory auditor was
Andrew Wadsworth FCCA
, for and on behalf of
Edwards Veeder (UK) Limited
.
6.
Related party transactions
The company was under the control of Mr F Chadwick throughout the current year. Mr F Chadwick is the managing director and a shareholder. During the year the company received dividends of £200,000 (2022: £200,000) from its subsidiary undertaking Beva Investments Limited. During the year the company paid dividends of £200,000 (2022: £200,000) to the directors.