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REGISTERED NUMBER: 13817476 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GAVEL UK BIDCO LIMITED

GAVEL UK BIDCO LIMITED (REGISTERED NUMBER: 13817476)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GAVEL UK BIDCO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M J Davies
M J K Grad
T A Christenson





REGISTERED OFFICE: Unit 1a
Sterling Centre
Eastern Road
Bracknell
Berkshire
RG12 2PW





REGISTERED NUMBER: 13817476 (England and Wales)





AUDITORS: Galloways Accounting
15 West Street
Brighton
East Sussex
BN1 2RL

GAVEL UK BIDCO LIMITED (REGISTERED NUMBER: 13817476)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 26,984,562 26,984,562

CURRENT ASSETS
Debtors 5 387,841 113,600
Cash at bank 421,623 690,558
809,464 804,158
CREDITORS
Amounts falling due within one year 6 (501,904 ) (654,334 )
NET CURRENT ASSETS 307,560 149,824
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,292,122

27,134,386

CREDITORS
Amounts falling due after more than one
year

7

(10,950,570

)

(10,950,570

)
NET ASSETS 16,341,552 16,183,816

CAPITAL AND RESERVES
Called up share capital 1 1
Share premium 15,758,991 15,758,991
Retained earnings 582,560 424,824
SHAREHOLDERS' FUNDS 16,341,552 16,183,816

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:





M J K Grad - Director


GAVEL UK BIDCO LIMITED (REGISTERED NUMBER: 13817476)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Gavel UK Bidco Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Preparation of consolidated financial statements
The financial statements contain information about Gavel UK Bidco Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost, less impairment which is reviewed annually.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractualprovisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Other income
Other income represents management charge income charged to other group companies and also recognition of dividends received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

GAVEL UK BIDCO LIMITED (REGISTERED NUMBER: 13817476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2024
and 31 December 2024 26,984,562
NET BOOK VALUE
At 31 December 2024 26,984,562
At 31 December 2023 26,984,562

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 301,200 -
VAT - 5,040
Prepayments and accrued income 86,641 108,560
387,841 113,600

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 2,340
Amounts owed to group undertakings - 27,900
VAT 300 -
Accrued expenses 501,604 624,094
501,904 654,334

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans more 5 yrs non-instalments 10,950,570 10,950,570

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-instalments 10,950,570 10,950,570

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 10,950,570 10,950,570

The bank loan is secured by means of a first fixed charge over all shares and shareholder loans and a floating charge over all its present and future assets and undertakings.

GAVEL UK BIDCO LIMITED (REGISTERED NUMBER: 13817476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Crowter FCA BSc (Senior Statutory Auditor)
for and on behalf of Galloways Accounting

10. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available in FRS 102 "Related party disclosures" whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

11. CONTROL

The company is a wholly owned subsidiary of TBAuctions Netherlands B.V., a company incorporated in Holland. Group consolidated financial statements can be obtained from Overschiestraat 59, 1062 XD Amsterdam, The Netherlands.