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Registration number: 12449012

Balcomm Holdings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Balcomm Holdings Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Balcomm Holdings Ltd

Company Information

Directors

Mr P A Richardson

Mr J Faul

Mr D Bryant

Registered office

9/11 Wellesley Avenue
Richings Park
Iver
Buckinghamshire
SL0 9AX

Registered number

12449012

Accountants

Ripe LLP
Chartered Accountants
9A Burroughs Gardens
London
NW4 4AU

 

Balcomm Holdings Ltd

(Registration number: 12449012)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

5,662,715

5,662,715

Current assets

 

Debtors

5

148,944

218,787

Cash at bank and in hand

 

17,755

14,939

 

166,699

233,726

Creditors: Amounts falling due within one year

6

(723,949)

(787,681)

Net current liabilities

 

(557,250)

(553,955)

Total assets less current liabilities

 

5,105,465

5,108,760

Creditors: Amounts falling due after more than one year

6

(1,528,991)

(1,828,991)

Net assets

 

3,576,474

3,279,769

Capital and reserves

 

Called up share capital

7

150

150

Retained earnings

3,576,324

3,279,619

Shareholders' funds

 

3,576,474

3,279,769

 

Balcomm Holdings Ltd

(Registration number: 12449012)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 February 2025 and signed on its behalf by:
 

.........................................
Mr P A Richardson
Director

.........................................
Mr J Faul
Director

.........................................
Mr D Bryant
Director

 

Balcomm Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9/11 Wellesley Avenue
Richings Park
Iver
Buckinghamshire
SL0 9AX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Balcomm Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Investments

2024
£

2023
£

Investments in subsidiaries

5,662,715

5,662,715

Subsidiaries

£

Cost or valuation

At 1 October 2023

5,662,715

Carrying amount

At 30 September 2024

5,662,715

At 30 September 2023

5,662,715

 

Balcomm Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Balcomm Limited

England and Wales

Ordinary

100%

100%

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

10

148,944

116,426

Other debtors

 

-

102,361

   

148,944

218,787

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

300,000

300,000

Amounts due to related parties

10

-

1,264

Other creditors

10

423,949

486,417

 

723,949

787,681

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,528,991

1,828,991

 

Balcomm Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £0.01 each

5,000

50

5,000

50

Ordinary B of £0.01 each

5,000

50

5,000

50

Ordinary C of £0.01 each

5,000

50

5,000

50

15,000

150

15,000

150

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

1,528,991

1,828,991

Current loans and borrowings

2024
£

2023
£

Other borrowings

300,000

300,000

As at the balance sheet date, the company owed secured loan notes amounting to £1,828,991 (2023: 2,128,991) repayable in monthly instalments of £25,000.

 

Balcomm Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £0.27 (2023 - £14.85) per each Ordinary A

1,350

74,250

Final dividend of £20.20 (2023 - £22.20) per each Ordinary B

101,000

111,000

Final dividend of £24.80 per each Ordinary C

124,000

124,000

226,350

309,250

10

Related party transactions

Directors balance

As at balance sheet date, the company owed £- (2023: £1,264) to Mr J Faul, a director of the company

As at balance sheet date, Mr D Bryant, a director of the company, owed £- (2023: £70,647) to the company.

As at balance sheet date, Mr P Richardson, a director of the company, owed £- (2023: £31,713) to the company.

Amount owed by subsidiary company
Balcomm Limited
At the balance sheet date, Balcomm Limited owed £148,944 (2023 : £116,427) to the company.

11

Control

The ultimate controlling parties are the directors of the company.