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Registration number: 06858748

Balreed Digitec (Group) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Balreed Digitec (Group) Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

Balreed Digitec (Group) Limited

Company Information

Directors

Mr J A Clark

Ms S L Jackson

Registered office

Nimbus House
Liphook Way
20/20 Business Park
Maidstone
Kent
ME16 0FZ

Accountants

DSK Partners LLP
Chartered AccountantsD S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Balreed Digitec (Group) Limited

(Registration number: 06858748)
Statement of Financial Position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

5,826,400

5,826,400

Current assets

 

Debtors

5

439,213

439,213

Creditors: Amounts falling due within one year

6

(6,259,614)

(6,259,614)

Net current liabilities

 

(5,820,401)

(5,820,401)

Net assets

 

5,999

5,999

Capital and reserves

 

Called up share capital

7

872

872

Capital redemption reserve

8

128

128

Retained earnings

8

4,999

4,999

Shareholders' funds

 

5,999

5,999

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 

.........................................
Ms S L Jackson
Director

   
     
 

Balreed Digitec (Group) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
Nimbus House
Liphook Way
20/20 Business Park
Maidstone
Kent
ME16 0FZ

The presentation currency of the financial statements is Pound Sterling (£).

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 presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Balreed Digitec (Group) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Fixed asset investments

2024
£

2023
£

Investments in subsidiaries

5,826,400

5,826,400

Subsidiaries

£

Cost or valuation

At 1 November 2023

5,826,400

Provision

Carrying amount

At 31 October 2024

5,826,400

At 31 October 2023

5,826,400

 

Balreed Digitec (Group) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4

Fixed asset investments (continued)

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

Balreed Digitec (UK) Limited

100%

100%

Balreed Digitec (North) Limited

100%

100%

Balreed Digitec (SE) Limited

100%

100%

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

439,213

439,213

   

439,213

439,213

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Amounts due to related parties

6,259,614

6,259,614

 

Balreed Digitec (Group) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £0.10 each

8,396

840

8,396

840

Ordinary C shares of £0.10 each

325

33

325

33

8,721

872

8,721

872

8

Ultimate parent company

The company's immediate parent company is Apogee Group Limited, a company incorporated in England and Wales and its ultimate parent company is HP Inc, a company incorporated in United States of America.

The smallest group in which the results of the company were consolidated is that headed by Manzana Bidco Limited. The consolidated accounts of this company are available to the public and may be obtained from Companies House.

The largest group in which the results of the company were consolidated is that headed by HP Inc. The consolidated accounts of this company are available to the public and may be obtained from the company's head office, 1501 Page Mill Road, Palo Alto, CA 94304, United States.