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Registration number: 10354320

Now Investment Holdings Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

Now Investment Holdings Limited

Contents

Company Information

1

Director's Report

4 to 5

Independent Auditor's Report

6 to 10

Profit and Loss Account

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14 to 23

 

Now Investment Holdings Limited

Company Information

Director

Mr J Taylor

Company secretary

Mr D Royal

Registered office

Shephall Way Service Station
Shephall Way
Stevenage
Hertfordshire
SG2 9RW

Auditors

Sterling Grove Accountants Limited
Chartered Certified AccountantsFawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Now Investment Holdings Limited

Strategic Report for the Year Ended 31 December 2024

The director presents his strategic report for the year ended 31 December 2024.

Principal activity

The principal activity of the company is a holding company.

Fair review of the business

The Shephall Way Service Station subsidiary which represented our Hyundai and Suzuki franchises was put into members voluntary liquidation on the 14 August 2024 following Hyundai’s decision not to issue new franchise agreements. The Safeway Cars Limited business which represents the Kia franchise continued to perform well and produced a profit before tax of £749,816.

The business received £375,000 in dividends from its subsidiary and along with interest received reported a profit before tax of £397,685.

Principal risks and uncertainties

Given that Now Investment Holdings Limited is a non trading holding company, the risks and uncertainties relate to the trading subsidiaries.

The management of the business and the nature of the Group's strategy are subject to a number of risks. The director has set out below the principle risks facing the business.

Manufacturing supply of new and improved products
The company is reliant on new products from Kia. This exposes the company in a number of areas as the company is dependent on its manufacturing partner in respect of:
a) availability of new vehicle product
b) quality of new vehicle product
c) pricing of new vehicle product
The director is confident that future new products from Kia will continue to be competitively priced and of high quality and therefore consider that this “manufacturer risk” is minimal. It is, in any case, mitigated by other core business areas of the company, including used vehicle sales, parts sales and service work.

Economic downturn
The director believes the company is well placed to weather any future economic challenges. In response to this risk, senior management aim to keep abreast of economic conditions and will take appropriate action as required.

 

Now Investment Holdings Limited

Strategic Report for the Year Ended 31 December 2024

Due diligence process

The company uses various financial instruments which include bank, financial institutions and stocking loans, cash and various items, such as consignment stock, trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments it to raise finance for the company’s operations. Their existence exposes the company to a number of financial risks.

The main risks arising from the financial instruments are interest rate risk, credit risk and liquidity risk. The director reviews and agrees policies for managing each of these risks which are summarised below:

Interest rate risk
The company finances its operations through a mixture of bank and other external borrowings. The company’s exposure to interest rate fluctuations on its borrowings is managed by the use of fixed and floating facilities.

Credit risk
The company’s principal financial assets are cash and trade debtors. The credit risk associated with cash is limited as the counterparties have high credit ratings assigned by the international credit rating agencies. The principal credit risk arises therefore from trade debtors. In order to manage credit risk, the director sets credit limits for customers based on a combination of payment history and third party credit references. Credit limits are reviewed by the finance department on a regular basis in conjunction with debt ageing and collection history.

Liquidity risk
The company seeks to manage risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. The company’s policy throughout the period has been to achieve this objective through the day to day involvement of management in business decisions rather than through setting maximum or minimum liquidity ratios.

Approved and authorised by the director on 11 June 2025
 

.........................................
Mr J Taylor
Director

 

Now Investment Holdings Limited

Director's Report for the Year Ended 31 December 2024

The director presents his report and the financial statements for the year ended 31 December 2024.

Statement of directors' responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Director of the company

The director who held office during the year was as follows:

Mr J Taylor

Financial instruments

Objectives and policies

The company uses various financial instruments which include cash, trade debtors, trade creditors and amounts due by group undertakings that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations. The exsistence of these financial instruments exposes the company to a number of financial risk, which are described in the strategic report.

Disclosure of information to the auditors

The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.

Reappointment of auditors

The auditors Sterling Grove Accountants Limited are deemed to be reappointed under section 487(2) of the Companies Act 2006.

 

Now Investment Holdings Limited

Director's Report for the Year Ended 31 December 2024

Approved and authorised by the director on 11 June 2025
 

.........................................
Mr J Taylor
Director

 

Now Investment Holdings Limited

Independent Auditor's Report to the Members of Now Investment Holdings Limited

Opinion

We have audited the financial statements of Now Investment Holdings Limited (the 'company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

 

Now Investment Holdings Limited

Independent Auditor's Report to the Members of Now Investment Holdings Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of director's remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the Statement of Director's Responsibilities, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

 

Now Investment Holdings Limited

Independent Auditor's Report to the Members of Now Investment Holdings Limited

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director.

Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

 

Now Investment Holdings Limited

Independent Auditor's Report to the Members of Now Investment Holdings Limited

The extent to which the audit was considered capable of detecting irregularities including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the design and consultancy sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

 

Now Investment Holdings Limited

Independent Auditor's Report to the Members of Now Investment Holdings Limited

The extent to which the audit was considered capable of detecting irregularities including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the design and consultancy sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Gino Paolo Amasanti FCCA (Senior Statutory Auditor)
For and on behalf of Sterling Grove Accountants Limited, Statutory Auditor
 Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

11 June 2025

 

Now Investment Holdings Limited

Profit and Loss Account for the Year Ended 31 December 2024

Note

2024
£

2023
£

Turnover

3

45,768

330,161

Cost of sales

 

(45,768)

(39,928)

Gross profit

 

-

290,233

Administrative expenses

 

(2,536)

(6,630)

Other operating income

4

96

-

Operating (loss)/profit

6

(2,440)

283,603

Income from shares in group undertakings

 

375,000

1,950,000

Other interest receivable and similar income

7

25,125

23,207

   

400,125

1,973,207

Profit before tax

 

397,685

2,256,810

Tax on profit

10

(2,448)

(67,841)

Profit for the financial year

 

395,237

2,188,969

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Now Investment Holdings Limited

(Registration number: 10354320)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

12

2,552,623

2,552,623

Current assets

 

Debtors

14

-

1,915

Cash at bank and in hand

 

833,942

421,263

 

833,942

423,178

Creditors: Amounts falling due within one year

16

(827,672)

(362,145)

Net current assets

 

6,270

61,033

Net assets

 

2,558,893

2,613,656

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,558,793

2,613,556

Shareholders' funds

 

2,558,893

2,613,656

Approved and authorised by the director on 11 June 2025
 

.........................................
Mr J Taylor
Director

 

Now Investment Holdings Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Retained earnings
£

Total
£

At 1 January 2024

100

2,613,556

2,613,656

Profit for the year

-

395,237

395,237

Dividends

-

(450,000)

(450,000)

At 31 December 2024

100

2,558,793

2,558,893

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

350,100

4,502,570

4,852,670

Profit for the year

-

2,188,969

2,188,969

Dividends

-

(4,427,983)

(4,427,983)

Purchase of own share capital

(350,000)

350,000

-

At 31 December 2023

100

2,613,556

2,613,656

 

Now Investment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Shephall Way Service Station
Shephall Way
Stevenage
Hertfordshire
SG2 9RW

These financial statements were authorised for issue by the director on 11 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Summary of disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permissed by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
- the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
- the requirements of Section 33 Related Party Disclosures paragraph 33.7..

Exemption from preparing group accounts

The financial statements contain information about Now Investment Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group.
The company is exempt under section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Ken Brown Motor Group Limited.

 

Now Investment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliable;
- it is probable that the Company will receive consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Now Investment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture,fittings and equipment

3 to 5 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity.

 

Now Investment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Now Investment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

3

Turnover

The analysis of the company's Turnover for the year from continuing operations is as follows:

2024
£

2023
£

Sale of vehicles

-

39,928

Sale of service plans

45,768

-

Director's services

-

290,233

45,768

330,161

4

Other operating income

The analysis of the company's other operating income for the year is as follows:

2024
£

2023
£

Miscellaneous other operating income

96

-

5

Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

2024
£

2023
£

Gain on disposal of Tangible assets

-

22,601

6

Operating (loss)/profit

Arrived at after charging/(crediting)

2024
£

2023
£

Profit on disposal of property, plant and equipment

-

(22,601)

Auditor's remuneration - The audit of the company's annual accounts

1,000

2,000

Auditor's remuneration - Other services

-

1,040

7

Other interest receivable and similar income

2024
£

2023
£

Interest income on bank deposits

25,125

23,207

 

Now Investment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

8

Staff costs

The aggregate payroll costs (including director's remuneration) were as follows:

2024
£

2023
£

Wages and salaries

-

1,172

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

2024
No.

2023
No.

Administration and support

1

1

1

1

9

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

-

1,172

10

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

2,448

68,013

UK corporation tax adjustment to prior periods

-

(32)

2,448

67,981

Deferred taxation

Arising from origination and reversal of timing differences

-

(140)

Tax expense in the income statement

2,448

67,841

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - the same as the standard rate of corporation tax in the UK) of 25% (2023 - 23.52%).

The differences are reconciled below:

 

Now Investment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

2024
£

2023
£

Profit before tax

397,685

2,256,810

Corporation tax at standard rate

99,421

530,802

Decrease in UK and foreign current tax from adjustment for prior periods

-

(30)

Tax decrease from effect of capital allowances and depreciation

-

(5,316)

Tax decrease from other short-term timing differences

-

(140)

Effect of expense not deductible in determining taxable profit (tax loss)

-

1,165

Tax decrease arising from group relief

(3,223)

-

Tax decrease from effect of dividends from UK companies

(93,750)

(458,640)

Total tax charge

2,448

67,841

11

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

4,233

4,233

At 31 December 2024

4,233

4,233

Depreciation

At 1 January 2024

4,233

4,233

At 31 December 2024

4,233

4,233

Carrying amount

At 31 December 2024

-

-

 

Now Investment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

12

Investments

2024
£

2023
£

Investments in subsidiaries

2,552,623

2,552,623

Subsidiaries

£

Cost or valuation

At 1 January 2024

2,552,623

Provision

Carrying amount

At 31 December 2024

2,552,623

At 31 December 2023

2,552,623

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Safeway Cars Limited

Potter Street Service Station
Potter Stret
Harlow
Essex
CM17 9AQ

Ordinary

100%

100%

Subsidiary undertakings

Safeway Cars Limited

The principal activity of Safeway Cars Limited is of a motor dealer.

13

Disposals

On 14 August 2024, the company disposed of its interest in Shephall Way Service Station Limited. The gain/(loss) on disposal of Shephall Way Service Station Limited was £-. Shephall Way Service Station Limited contributed £- to the company profit/(loss).

 

Now Investment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

14

Debtors

Current

2024
£

2023
£

Other debtors

-

1,915

 

-

1,915

15

Cash and cash equivalents

2024
£

2023
£

Cash at bank

833,942

421,263

16

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

18,877

Amounts due to group companies

18

626,283

273,100

Social security and other taxes

 

8,743

-

Accruals

 

190,198

2,187

Corporation tax

10

2,448

67,981

 

827,672

362,145

17

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:
Ordinary shares of £1 have full voting rights and rights to receive dividends and distributions (including on winding up).

 

Now Investment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

18

Related party transactions

The company is a wholly owned subsidiary of a group that prepares publically avaliable consolidated financial statements, namely the group head by Ken Brown Motor Group Limited, so it has taken advantage of the exemption avaliable under Section 33.7 of the Financial Reporting Standard 102 to not disclose transactions with wholly owned group entities.

In January 2023, a Group restructure took place in which the freehold property included in the Balance Sheet of Now Investment Holdings Limited as at 31 December 2022 was transferred to PGMD Holdings Limited, PGMD Holdings Limited is not part of the Group headed up by Ken Brown Motor Group Limited and is owned by Jon Taylor (Director of Now Investment Holdings Limited). PGMD Holdings Limited acquired the property for proceeds of £1,634,878.

19

Parent and ultimate parent undertaking

The company's immediate parent is Ken Brown Motor Group Limited, incorporated in England & Wales.

  These financial statements are available upon request from 44-46 Potter Street, Harlow, England, CM17 9AQ.