COMPANY REGISTRATION NUMBER:
14984598
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
Investments |
4 |
|
14,427,858 |
|
|
-------------- |
Total assets less current liabilities |
|
14,427,858 |
|
|
-------------- |
|
|
|
|
Capital and reserves
Called up share capital |
5 |
|
14,427,858 |
|
|
-------------- |
Shareholders funds |
|
14,427,858 |
|
|
-------------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
23 April 2025
, and are signed on behalf of the board by:
Company registration number:
14984598
Notes to the Financial Statements |
|
Period from 6 July 2023 to 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Slaley Hall, Slaley, Matlock, Derbyshire, DE4 2BB.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
(a)
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b)
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
(c)
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
(d)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(e)
Financial instruments
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.
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 6 July 2023 |
– |
Additions |
61,941,414 |
Disposals |
(
25,072,142) |
|
-------------- |
At 31 December 2024 |
36,869,272 |
|
-------------- |
Impairment |
|
At 6 July 2023 |
– |
Impairment losses |
22,441,414 |
|
-------------- |
At 31 December 2024 |
22,441,414 |
|
-------------- |
|
|
Carrying amount |
|
At 31 December 2024 |
14,427,858 |
|
-------------- |
|
|
On 27 July 2023 the company acquired the entire share capital of Speeds Limited following a share for share exchange with the shareholders.
On 6 October 2023, the following ordinary shares were transferred from Speeds Limited to
Speeds Slaley Ltd
by way of a dividend in specie:-
Speeds (Burton) Limited
Speeds (Derby) Limited
Speeds (Nottingham) Limited
On 10 October 2023, in exchange for the cancellation of shares, the entire share capital of Speeds Limited, Speeds (Derby) Limited and Speeds (Nottingham) Limited was transferred in specie.
5.
Called up share capital
Authorised share capital
|
31 Dec 24 |
|
No. |
£ |
A Voting and A Participating Ordinary shares of £ 0.10 each |
144,278,582 |
14,427,858 |
|
--------------- |
-------------- |
|
|
|
Issued, called up and fully paid
|
31 Dec 24 |
|
No. |
£ |
A Voting and A Participating Ordinary shares of £ 0.10 each |
144,278,582 |
14,427,858 |
|
--------------- |
-------------- |
|
|
|
Share movements
A Voting and A Participating Ordinary
At 6 July 2023 |
– |
– |
Issue of shares |
144,278,580 |
14,427,858 |
|
--------------- |
-------------- |
At 31 December 2024 |
144,278,580
|
14,427,858 |
|
--------------- |
-------------- |
|
|
|
The issued share capital arose following a share for share exchange with the shareholders of Speeds Limited which completed on 27 July 2023. There were four main classes of shares issued including: - A Voting and A Participating Ordinary - B Voting and B Participating Ordinary - C Voting and C Participating Ordinary - Founder Voting and Founder Participating Ordinary On 6 October 2023, Speeds Limited transferred in specie, shares in three subsidiary undertakings to Speeds Slaley Limited. On 10 October 2023, all of the B Voting and B Participating Ordinary shares were cancelled in exchange for the transfer of the entire share capital of Speeds (Nottingham) Limited to a company controlled by the shareholders of the B Voting and B Participating Ordinary shares. On 10 October 2023, all of the C Voting and C Participating Ordinary shares were cancelled in exchange for the transfer of the entire share capital of Speeds (Derby) Limited to a company controlled by the shareholders of the C Voting and C Participating Ordinary shares. On 10 October 2023, all of the Founder Voting and Founder Participating Ordinary shares were cancelled in exchange for the transfer of the entire share capital of Speeds Limited to a company controlled by the shareholders of the Founder Voting and Founder Participating Ordinary shares.
6.
Related party transactions
The company has taken advantage of the exemptions provided in FRS 102 from reporting transactions between wholly owned members of the group.