Company registration number 15499272 (England and Wales)
LIMESQUARE TRADE TOPCO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LIMESQUARE TRADE TOPCO LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investments
4
38,950,950
Current assets
Debtors
6
1,050
Cash at bank and in hand
1,000
Net current assets
2,050
Net assets
38,953,000
Capital and reserves
Called up share capital
7
38,952,000
Profit and loss reserves
1,000
Total equity
38,953,000

The notes on pages 2 to 5 form part of these financial statements.

For the financial period 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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

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

The financial statements were approved by the board of directors and authorised for issue on 22 October 2024 and are signed on its behalf by:
Mr W T Webb
Director
Company registration number 15499272 (England and Wales)
LIMESQUARE TRADE TOPCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Limesquare Trade Topco Limited is a private company limited by shares incorporated in England and Wales. The registered office is Limesquare House, Downside, Off Guildford Street, Chertsey, Surrey, KT16 9DS.

1.1
Reporting period

The financial statements cover the first accounting period from incorporation on 18 February 2024 to 31 March 2024. The accounting period was shortened to align with it's subsidiary undertaking.

1.2
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

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
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

LIMESQUARE TRADE TOPCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
Number
Total
2
4
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
38,950,950
LIMESQUARE TRADE TOPCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
4
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 18 February 2024
-
Additions
45,235,950
Shares acquired via distribution in specie
30,090
At 31 March 2024
45,266,040
Impairment
At 18 February 2024
-
Capital reduction demerger
6,315,090
At 31 March 2024
6,315,090
Carrying amount
At 31 March 2024
38,950,950

The investment in the subsidiary Limesquare Holdings Limited was acquired by a share for share exchange. The company also acquired shares in Limesquare Business Parks Limited from Limesquare Holdings Limited by way of a distribution in specie. These shares were transferred via a capital reduction demerger on 31 March 2024.

5
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Indirect
Limesquare Holdings Limited
England & Wales
Holding Company
Ordinary
100.00
-
Limesquare Finance Limited
England & Wales
Vehicle Hire
Ordinary
-
100.00
Limesquare Vehicle Rental Limited
England & Wales
Vehicle Hire
Ordinary
-
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Limesquare Holdings Limited
37,183,464
26,580,971
Limesquare Finance Limited
2,543,744
823,122
Limesquare Vehicle Rental Limited
365,812
995,543

The shares were acquired following a capital demerger on 31 March 2024.

LIMESQUARE TRADE TOPCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 5 -
6
Debtors
2024
Amounts falling due within one year:
£
Other debtors
1,050
7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and not fully paid
Ordinary A shares of £1 each
38,952,000
38,952,000

Included in called up share capital is 1,050 ordinary shares not fully paid. These shares were fully paid up on 11 October 2024.

The company was formed with 1050 Ordinary shares on 18 February 2024. On 27 March 2024 a further 45,235,950 Ordinary shares were created via a share for share exchange. On 28 March 2024 the shares were re-designated into two classes of shares; 38,952,000 Ordinary A shares and 6,285,000 Ordinary B shares. On 31 March 2024 the Ordinary B shares were cancelled following a capital reduction demerger.

8
Contolling party

Mr W T Webb is the controlling party.

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