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Company No: 07390248 (England and Wales)

FLOOD CONTROL (HOLDINGS) LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

FLOOD CONTROL (HOLDINGS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

FLOOD CONTROL (HOLDINGS) LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
FLOOD CONTROL (HOLDINGS) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTORS John Edward Allsop
Timothy Lester Collingwood
Elisabeth Jane Read
REGISTERED OFFICE Leeward House Fitzroy Road
Exeter Business Park
Exeter
EX1 3LJ
United Kingdom
COMPANY NUMBER 07390248 (England and Wales)
ACCOUNTANT Old Mill Accountancy Limited
Leeward House
Fitzroy Road
Exeter Business Park
Exeter
Devon
EX1 3LJ
FLOOD CONTROL (HOLDINGS) LIMITED

BALANCE SHEET

As at 31 October 2024
FLOOD CONTROL (HOLDINGS) LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 1,246,479 1,246,479
1,246,479 1,246,479
Current assets
Debtors 4 1,577,239 788,828
Cash at bank and in hand 631 270
1,577,870 789,098
Creditors: amounts falling due within one year 5 ( 512,441) ( 257,714)
Net current assets 1,065,429 531,384
Total assets less current liabilities 2,311,908 1,777,863
Creditors: amounts falling due after more than one year 6 ( 6,166) ( 16,518)
Net assets 2,305,742 1,761,345
Capital and reserves
Called-up share capital 1,500 1,500
Profit and loss account 2,304,242 1,759,845
Total shareholders' funds 2,305,742 1,761,345

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Flood Control (Holdings) Limited (registered number: 07390248) were approved and authorised for issue by the Board of Directors on 02 May 2025. They were signed on its behalf by:

Timothy Lester Collingwood
Director
FLOOD CONTROL (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
FLOOD CONTROL (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Flood Control (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leeward House Fitzroy Road, Exeter Business Park, Exeter, EX1 3LJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for management services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments, including investments in subsidiaries, are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 November 2023 1,246,479
At 31 October 2024 1,246,479
Carrying value at 31 October 2024 1,246,479
Carrying value at 31 October 2023 1,246,479

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 1,447,730 557,584
Other debtors 129,509 231,244
1,577,239 788,828

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,354 10,098
Trade creditors 62 105,027
Amounts owed to Group undertakings 501,973 135,156
Other creditors 52 7,433
512,441 257,714

Bank loans falling due within one year are guaranteed by the government as part of the Bounce Back Loan scheme.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 6,166 16,518

Bank loans falling due after one year are guaranteed by the government as part of the Bounce Back Loan scheme.

7. Related party transactions

Transactions with the entity's directors

Advances

During the year advances were granted to a director in the form of a director's loan account. At the beginning of the year the amount owed to the company was £69,634. £191,840 was advanced, and £186,500 was subsequently repaid. Interest of £610 was charged on overdrawn balances. The balance at the end of the year was £75,584.

During the year advances were also granted to a further director in the form of a director's loan account. At the beginning of the year the amount owed to the company was £21,350. £101,000 was advanced, and £101,000 was subsequently repaid. Interest of £200 was charged on overdrawn balances. The balance at the end of the year was £21,549.

During the year advances were also granted to a further director in the form of a director's loan account. At the beginning of the year the amount owed to the company was £24,568. £127,600 was advanced, and £127,500 was subsequently repaid. Interest of £226 was charged on overdrawn balances. The balance at the end of the year was £24,894.