REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE FOLD LEAMINGTON SPA LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE FOLD LEAMINGTON SPA LIMITED |
THE FOLD LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 01309802) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE FOLD LEAMINGTON SPA LIMITED |
COMPANY INFORMATION |
for the year ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
One Eastwood |
Harry Weston Road |
Binley Business Park |
Coventry |
CV3 2UB |
THE FOLD LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 01309802) |
BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE FOLD LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 01309802) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
The Fold Leamington Spa Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparation |
Going concern |
These financial statements have been prepared on the basis that the company will continue trading as a going concern. |
The Cogent group has confirmed that it will continue to provide the company with sufficient financial support and working capital to fund the losses and enable the company to meet its ongoing liabilities as they fall due. |
The directors consider that the going concern basis of accounting remains appropriate. |
Depreciation |
Depreciation will be provided on the cost of tangible fixed assets in equal annual instalments over their estimated useful lives. No depreciation has been provided in the current year due to "The Fold" not opening until the 2024 financial year, when the assets became available for use. |
Financial instruments |
Basic financial instruments in debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Comprehensive Income in other administrative expenses. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
Additions |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
THE FOLD LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 01309802) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | CONTINGENT LIABILITIES |
The company has guaranteed borrowings of fellow subsidiaries amounting to £1,572,770 (2022: £1,314,131) and has entered into a group overdraft facility which is secured by a fixed and floating charge over all assets of the company. |
11. | ULTIMATE PARENT COMPANY |
The Company is a wholly-owned subsidiary of Cogent Group Limited (CGL) and its ultimate parent company is Cogent Elliott Group Limited (CEGL). |
The registered office and principal place of business of CEGL is The Fold, Spencer Street, Royal Leamington Spa, Warwickshire, CV31 3NE, from which group accounts can be obtained. |
12. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |