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Registered number: 14634548










BYWATER SFC INVESTMENTS LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
BYWATER SFC INVESTMENTS LTD
REGISTERED NUMBER: 14634548

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 3 
53,056,989
17,777,781

  
53,056,989
17,777,781

Current assets
  

Debtors
  
-
15,420

Cash at bank and in hand
 4 
2,056,770
32,633

  
2,056,770
48,053

Creditors: amounts falling due within one year
 5 
(771,681)
(12,501)

Net current assets
  
 
 
1,285,089
 
 
35,552

Total assets less current liabilities
  
54,342,078
17,813,333

  

Net assets
  
54,342,078
17,813,333


Capital and reserves
  

Called up share capital 
 6 
54,315,727
17,827,781

Capital redemption reserve
 6 
26,923
-

Profit and loss account
  
(572)
(14,448)

  
54,342,078
17,813,333


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: 




Patrick Desmond O'Gorman
Director

Date: 14 March 2025

The notes on pages 3 to 6 form part of these financial statements.
Page 1

 
BYWATER SFC INVESTMENTS LTD
REGISTERED NUMBER: 14634548
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024


Page 2

 
BYWATER SFC INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Bywater SFC Investments 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

 
2.1

Basis of preparation of financial statements

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:

  
2.2

Exemption from preparing consolidated financial statements

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.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans 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.

 
2.6

Cash and cash equivalents

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.

Page 3

 
BYWATER SFC INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Creditors

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.


3.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
17,777,781


Additions
37,426,835


Disposals
(2,147,627)



At 31 December 2024
53,056,989




During the financial year, the Company disposed of a portion of its shareholding in one of its subsidiaries. A total of 214,762,705 shares, originally valued at £2,147,627, were sold for £2,377,000, resulting in a gain of £229,373, which has been recognised in the Statement of Comprehensive Income.
The disposal was conducted at a price agreed with the buyer, with no terms or conditions deviating from normal market practice.


4.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,056,770
32,633

2,056,770
32,633


Page 4

 
BYWATER SFC INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
49,009
-

Accruals and deferred income
722,672
12,501

771,681
12,501



6.


Capital and reserves

2024
2023
£
£
Allotted, called up and fully paid



461,643,075 (2023 - 182,777,800) Ordinary shares shares of £0.01 each
4,616,431
1,827,778
4,969,929,570 (2023 - 1,600,000,300) Non-voting shares shares of £0.01 each
49,699,296
16,000,003

54,315,727

17,827,781


During the year, the Company issued 278,865,275 ordinary shares and 3,369,929,270 non-voting shares, bringing the total issued shares to 461,643,075 (ordinary) and 4,969,929,570 (non-voting) as at 31 December 2024.
The nominal value per share remained £0.01, increasing total share capital from £17,827,781 in 2023 to £54,315,727 in 2024.
On 22 July 2024 a total of 773,688,255 shares were redeemed, and £7,709,960 was returned to the shareholders during the year. The remaining balance of £26,923 is recognised as a Capital redemption reserve as of 31 December 2024.


7.


Post balance sheet events

In January 2025, a new subsidiary of the Company was incorporated. The subsidiary acquired an investment property on 6 March 2025.     


8.


Controlling party

The immediate parent is Bywater SFC Holdings Limited, 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 undertakings 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.

Page 5

 
BYWATER SFC INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Auditor's information

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.

Page 6