Registered number: 14631320
BYWATER SFC HOLDINGS LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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BYWATER SFC HOLDINGS LTD
REGISTERED NUMBER: 14631320
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Capital redemption reserve
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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BYWATER SFC HOLDINGS LTD
REGISTERED NUMBER: 14631320
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
The notes on pages 3 to 6 form part of these financial statements.
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BYWATER SFC HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Bywater SFC Holdings Limited is a private company limited by shares which was incorporated in the United Kingdom.
The principal place of business and registered address is A&L Suite 1-3, The Hop Exchange, 24 Southwark Street, London, England, SE1 1TY.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
The financial statements indicate a loss of £215,651 for the year and a net current liability of £103,703 as of the balance sheet date. Additionally, the Company has provided a financial guarantee with a maximum exposure of £209,367, which is not recognised on the balance sheet. Despite this, the Company maintains a net asset position of £4,397,770. Furthermore, the immediate parent company has committed to providing financial support to ensure sufficient liquidity.
After a thorough review of the Company’s cash flow forecasts and financial projections, the directors are confident that the Company can continue operating within its existing financial arrangements.
Having made sufficient enquiries, the directors are satisfied that the Company has adequate resources to remain in operation until at least 12 months after the approval of these financial statements. The Company therefore continues to adopt the going concern basis for the preparation of its financial statements.
Interest income is recognised in profit or loss using the effective interest method.
Investments in subsidiaries are measured at cost less accumulated impairment.
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BYWATER SFC HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors 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.
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Investments in subsidiary companies
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Cash and cash equivalents
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BYWATER SFC HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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Share capital and reserves
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Allotted, called up and fully paid
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231,953,471 (2023 - 95,766,700) A Ordinary shares shares of £0.01 each
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222,857,203 (2023 - 92,011,100) B Ordinary shares shares of £0.01 each
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During the year, the Company issued 136,186,771 A Ordinary shares and 130,846,103 B Ordinary shares, bringing the total issued shares to 231,953,471 A Ordinary shares and 222,857,203 B Ordinary shares as of 31 December 2024.
The nominal value per share remained at £0.01, increasing total share capital from £1,877,778 in 2023 to £4,548,107 in 2024.
On 22 July 2024, a total of 89,201,226 shares were redeemed, and £770,996 was returned to shareholders during the year. The remaining balance of £121,016 has been recognised as Capital Redemption Reserve as of 31 December 2024.
In 2024 the Company entered into a financial guarantee, alongside Sumitomo Forestry Europe Limited, on an Equity Commitment agreement. This guarantee pertained to a facility agreement entered into by 34 Fouberts Place Limited. The Company has committed to a maximum guarantee amount of £209,367.
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BYWATER SFC HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The immediate parent is Sumitomo Forestry Europe Ltd, a company incorporated and registered in the UK. The ultimate parent company is Sumitomo Forestry Co., Ltd a company incorporated and registered in Japan. Sumitomo Forestry Co., Ltd is the parent undertaking of the smallest and largest group of undertaking to consolidate these financial statements at 31 December 2024. Copies of the ultimate parent company financial statements may be obtained from Sumitomo Forestry CO., Ltd, Keidanren Kaikan, 3-2, Otemachi 1-chome, Chiyoda-ku, Tokyo 100-8270, Japan.
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 14 March 2025 by Yusuke Takanishi (Senior Statutory Auditor) on behalf of Greenback Alan LLP.
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