Ebury Group Holdings Limited
Unaudited Financial Statements
For the year ended 30 September 2024
Pages for Filing with Registrar
Company Registration No. 02643652 (England and Wales)
Ebury Group Holdings Limited
Company Information
Directors
T. V. L. Chown
C. M. Chown
N W Chown
Secretary
T. V. L. Chown
Company number
02643652
Registered office
4 Rawlinson Road
Oxford
OX2 6UE
Accountants
Moore Kingston Smith LLP
The Shipping Building
The Old Vinyl Factory
Blyth Road
Hayes
London
UB3 1HA
Ebury Group Holdings Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
Ebury Group Holdings Limited
Balance Sheet
As at 30 September 2024
30 September 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
4
3,053,395
3,053,395
Investments
5
1,599,591
1,443,238
4,652,986
4,496,633
Current assets
Debtors
6
30,265
24,300
Cash at bank and in hand
1,414,246
1,495,704
1,444,511
1,520,004
Creditors: amounts falling due within one year
7
(3,199,488)
(3,326,029)
Net current liabilities
(1,754,977)
(1,806,025)
Total assets less current liabilities
2,898,009
2,690,608
Provisions for liabilities
(34,202)
(17,608)
Net assets
2,863,807
2,673,000
Capital and reserves
Called up share capital
8
190
190
Profit and loss reserves
2,863,617
2,672,810
Total equity
2,863,807
2,673,000
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Ebury Group Holdings Limited
Balance Sheet (Continued)
As at 30 September 2024
30 September 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 12 May 2025 and are signed on its behalf by:
T. V. L. Chown
Director
Company Registration No. 02643652
Ebury Group Holdings Limited
Notes to the Financial Statements
For the year ended 30 September 2024
Page 3
1
Accounting policies
Company information
Ebury Group Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Rawlinson Road, Oxford, OX2 6UE.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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.
1.2
Going concern
The company made a profit for the year of £190,807 (2023: £85,943), and at the balance sheet date had net current liabilities of £1,754,977 (2023: £1,806,025).
The company is financed by loans made by its directors. As at the year end the directors' loan balance included within creditors due within one year was £2,621,572 (2023:£2,723,620). The directors have confirmed that they will not seek repayment of the loan until the company has sufficient funds to make repayments, without affecting its ability to repay creditors as they fall due. At the time of approving the financials statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least twelve months following the approval of these financial statements. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable from investments.
Rental income is recognised over the period when the right to income arises.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
15% straight line
Computer equipment
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Ebury Group Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
Page 4
1.5
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand,and deposits held at call with banks.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions 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 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.
Classification of financial liabilities
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.
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.
1.8
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
Ebury Group Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
Page 5
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
Ebury Group Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
Page 6
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 and 30 September 2024
42,424
Depreciation and impairment
At 1 October 2023 and 30 September 2024
42,424
Carrying amount
At 30 September 2024
At 30 September 2023
4
Investment property
2024
£
Fair value
At 1 October 2023 and 30 September 2024
3,053,395
In the opinion of the directors there has been no significant changes in value at 30 September 2024.
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
1,599,591
1,443,238
Ebury Group Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
5
Fixed asset investments
(Continued)
Page 7
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2023
1,443,238
Additions
499,465
Valuation changes
165,747
Disposals
(508,859)
At 30 September 2024
1,599,591
Carrying amount
At 30 September 2024
1,599,591
At 30 September 2023
1,443,238
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,500
1,999
Other debtors
1,874
-
Prepayments and accrued income
25,891
22,301
30,265
24,300
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
8,185
1,520
Corporation tax
9,099
17,280
Other taxation and social security
2,921
Other creditors
3,166,654
3,293,028
Accruals and deferred income
15,550
11,280
3,199,488
3,326,029
8
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
190 Ordinary A shares of £1 each
190
190
Ebury Group Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
Page 8
9
Related party transactions
Included within other creditors is an amount of £621,572 (2023: £2,723,620) owed to the director T.V.L. Chown at the year end. Also included in other creditors at year end is an amount of £2,000,000 owed to the other directors N.W. Chown and C.M. Chown as £800,000 and £1,200,000 respectively. No interest is charged on these amounts which are repayable on demand.
At the year end, an amount of £377,218 (2023: £380,095) was due to Hellesdon Scotland Limited, a company with a common director and shareholder, T. V. L. Chown, in respect of amounts received on its behalf.
At the year end, an amount of £167,864 (2023: £142,700) was due to Chown Enterprise Limited, a company with a common director and shareholder, T.V.L. Chown, in respect of amounts received on its behalf.