4th and Bainbridge Limited
(formerly known as 716 Investments Limited)
Unaudited Financial Statements
For the year ended 31 March 2024
Pages for Filing with Registrar
Company Registration No. 10661685 (England and Wales)
4th and Bainbridge Limited
(formerly known as 716 Investments Limited)
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
4th and Bainbridge Limited
(formerly known as 716 Investments Limited)
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
11,172,448
10,338,337
Current assets
Investments
4
1,604
1,604
Cash at bank and in hand
99,185
137,680
100,789
139,284
Creditors: amounts falling due within one year
5
(7,456,595)
(7,777,542)
Net current liabilities
(7,355,806)
(7,638,258)
Total assets less current liabilities
3,816,642
2,700,079
Provisions for liabilities
(521,082)
(226,645)
Net assets
3,295,560
2,473,434
Capital and reserves
Called up share capital
6
500,000
500,000
Profit and loss reserves
2,795,560
1,973,434
Total equity
3,295,560
2,473,434

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

4th and Bainbridge Limited
(formerly known as 716 Investments Limited)
Balance Sheet (Continued)
As at 31 March 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 27 September 2024
D Burt
Director
Company Registration No. 10661685
4th and Bainbridge Limited
(formerly known as 716 Investments Limited)
Notes to the financial statements
For the year ended 31 March 2024
Page 3
1
Accounting policies
Company information

4th and Bainbridge Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14-16 Cockspur Street, London, SW1Y 5BL.

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, which are those of 4th and Bainbridge Limited as an individual entity, have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The comparative figures have been amended to reflect a deferred tax provision of £190,000. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is dependent on funding from the director who has confirmed he will continue to provide financial support for at least one year from the date of approval of these financial statements and accordingly the financial statements are prepared on a going concern basis.

1.3
Fixed asset investments

Fixed asset investments are initially measured at fair value, which is normally the transaction price, and are subsequently measured at fair value based on the valuation by the Fund Manager.

1.4
Cash at bank and in hand

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.

1.5
Debtors and creditors

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans and other debtors receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors and other current creditors payable on demand are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

4th and Bainbridge Limited
(formerly known as 716 Investments Limited)
Notes to the financial statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 4
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

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

2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
11,172,448
10,338,337
Fixed asset investments revalued

Investments are held as units in a UCITS scheme valued at £11,172,448 by the Fund Manager at 31 March 2024. The historic cost of investments is £8,814,328 (2023 £8,872,254).

4th and Bainbridge Limited
(formerly known as 716 Investments Limited)
Notes to the financial statements (Continued)
For the year ended 31 March 2024
3
Fixed asset investments
(Continued)
Page 5
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
10,338,337
Additions
406,422
964,655
Disposals
(536,966)
At 31 March 2024
11,172,448
Carrying amount
At 31 March 2024
11,172,448
At 31 March 2023
10,338,337
4
Current asset investments
2024
2023
£
£
Other investments
1,604
1,604
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
16,775
6,615
Other creditors
7,431,540
7,762,647
Accruals and deferred income
8,280
8,280
7,456,595
7,777,542
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
500,000
500,000
500,000
500,000
7
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

4th and Bainbridge Limited
(formerly known as 716 Investments Limited)
Notes to the financial statements (Continued)
For the year ended 31 March 2024
7
Related party transactions
(Continued)
Page 6

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Key management personnel
7,431,540
7,762,647

This amount is interest free and repayable on demand.

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