for the Period Ended 31 December 2023
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2023
Additional information
The directors present their report and the financial statements for the year ended 31st December 2023. The financial statements have been prepared in accordance with the Small Companies Regime. Results and dividends The loss for the year, after taxation, amounted to £1,173,826, (2022 - loss £6,285) driven by a provision of £1,171,166 in respect of an impairment of investment balances, presented as an exceptional item in the profit and loss account. The directors recommend that no dividend be paid (2022 - £Nil). Directors The directors who served during the year were: Mark Horgan (appointed 28 November 2024) Jonathan Fenn (appointed 22 March 2023) Tadhg Dolly (appointed 22 March 2023 and resigned 28 November 2024) Stephen McCarthy (resigned 22 March 2023) Michael Patrick Murphy (resigned 22 March 2023) Neither director held any interests in the company at the beginning or end of the year, or the prior year. Going concern The Company’s ability to continue as a going concern for the foreseeable future is dependent on the continuation of Bidx1 Acquisitions Group. Pollen Street Capital, the Group’s principal strategic investor since 2018, have committed to provide financial support to the group to enable Bidx1 Acquisitions Limited and its subsidiary undertakings meet all obligations as they fall due for a period of at least one year from the date of the approval of the financial statements. Accordingly, the directors have prepared the Company’s financial statements on a Going Concern Basis. Future developments There are no planned future developments for the company. It will operate under the same model. Disclosure of information to auditors Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that: so far as the directors are aware, there is no relevant audit information of which the Company's auditors are unaware, and the directors have taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information. Post balance sheet events In November 2024, Bidx1 Acquisitions Group received an additional cash injection of £1.25 million from Pollen Street Capital by way of a share issue. This funding was secured to support both working capital requirements and restructuring initiatives aimed at improving operational efficiency and long-term financial stability. There were no other significant events between the balance sheet date and the date of signing of the financial statements affecting the company, which require adjustment to or disclosure in the financial statements.
Directors
The directors shown below have held office during the period of
1 January 2023
to
22 March 2023
The directors shown below have held office during the period of
22 March 2023
to
31 December 2023
Secretary
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Secretary
for the Period Ended
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Administrative expenses: |
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Operating profit(or loss): |
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Profit(or loss) before tax: |
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Profit(or loss) for the financial year: |
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As at
Notes | 2023 | 2022 | |
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Fixed assets | |||
Investments: | 3 |
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Total fixed assets: |
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Creditors: amounts falling due within one year: | 4 |
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(
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Total net assets (liabilities): |
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Capital and reserves | |||
Called up share capital: |
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Share premium account: |
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Profit and loss account: |
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Total Shareholders' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2023
Basis of measurement and preparation
Valuation information and policy
Other accounting policies
for the Period Ended 31 December 2023
2023 | 2022 | |
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Average number of employees during the period |
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for the Period Ended 31 December 2023
6. Fixed asset investments Investments in subsidiary companies Cost At 1st January, 2023 £1,171,165 Impairment Charge (note 5) (£1,171,165) At 31st December, 2023 - Nil
for the Period Ended 31 December 2023
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£ | £ | |
Trade creditors |
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Accruals and deferred income |
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Other creditors |
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Total |
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