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Registered number: 15014040









BEVIS ROCKS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
BEVIS ROCKS LIMITED
REGISTERED NUMBER: 15014040

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 3 
100
100

  
100
100

Current assets
  

Debtors: amounts falling due after more than one year
 4 
-
5,500,000

Debtors: amounts falling due within one year
 4 
6,247,037
5,604

  
6,247,037
5,505,604

Creditors: amounts falling due within one year
 6 
(4,622,037)
(5,604)

Net current assets
  
 
 
1,625,000
 
 
5,500,000

Total assets less current liabilities
  
1,625,100
5,500,100

Creditors: amounts falling due after more than one year
 6 
-
(3,875,000)

  

Net assets
  
1,625,100
1,625,100


Capital and reserves
  

Called up share capital 
  
200
200

Share premium account
  
1,624,900
1,624,900

  
1,625,100
1,625,100


Page 1

 
BEVIS ROCKS LIMITED
REGISTERED NUMBER: 15014040
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R H Silver
Director

Date: 22 May 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BEVIS ROCKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Bevis Rocks Limited is a private company limited by shares and incorporated in England and Wales (registered number: 15014040). The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH. The principal activity of the Company is that of an investment holding company.
The Company was incorporated on 19 July 2023.
The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 101 'Reduced Disclosure Framework'  and the Companies Act 2006.

 
2.2

Financial Reporting Standard 101 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions under FRS 101:
the requirements of IFRS 7 Financial Instruments: Disclosures
the requirements of IAS 7 Statement of Cash Flows
the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member

This information is included in the consolidated financial statements of SG Rocks (UK) Limited as at 31/12/2024 and these financial statements may be obtained from C/O Work.Life, 33 Foley Street, London, England, W1W 7TL.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

Page 3

 
BEVIS ROCKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument.

Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below:

Financial assets and financial liabilities are initially measured at fair value. 

Financial assets

All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets.

Debt instruments at amortised cost

Debt instruments are subsequently measured at amortised cost where they are financial assets held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and selling the financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Amortised cost is calculated using the effective interest method and represents the amount measured at initial recognition less repayments of principal plus the cumulative amortisation using the effective interest method of any difference between the initial amount and the maturity amount, adjusted for any loss allowance.

The Company recognises a loss allowance for expected credit losses on investments in debt instruments that are measured at amortised or at FVOCI. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.

Financial liabilities

At amortised cost

Financial liabilities which are neither contingent consideration of an acquirer in a business combination, held for trading, nor designated as at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. This is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or where appropriate a shorter period, to the amortised cost of a financial liability.

Page 4

 
BEVIS ROCKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
100



At 31 December 2024
100




The shares held in subsidiary companies are secured by way of fixed charge.


4.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
-
5,500,000

-
5,500,000


2024
2023
£
£

Due within one year

Amounts owed by group undertakings
6,247,037
-

Other debtors
-
5,604

6,247,037
5,604



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
3,468,750
5,604

Other creditors
1,153,287
-

4,622,037
5,604


Page 5

 
BEVIS ROCKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Loan notes
-
968,750

Amounts owed to group undertakings
-
2,906,250

-
3,875,000



7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Loan notes
-
968,750

-
968,750



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary share capital shares of £1.00 each
200
200



9.


Related party transactions

The Company owes £4,437,500 to its shareholders. These sums are loaned on an interest-free basis.
FRS 101 does not require disclosure of transactions between members of a group provided that any subsidiary which is a party to the transaction is wholly owned by such a member.


10.


Controlling party

The immediate parent company and ultimate controlling party is SG Rocks (UK) Limited a company incorporated in England and Wales (registered number: 14687640), and whose registered office address is C/O Work.Life, 33 Foley Street, London, England, W1W 7TL.

Page 6

 
BEVIS ROCKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


First time adoption of FRS 101

The policies applied under the entity's previous accounting framework are not materially different to FRS 101 and have not impacted on equity or profit or loss.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 22 May 2025 by Daniel Walters (Senior Statutory Auditor) on behalf of Harris and Trotter LLP.

Page 7