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REGISTERED NUMBER: 14132104 (England and Wales)






















Project Emanuel Bidco Limited

Financial Statements for the Year Ended 30th September 2024






Project Emanuel Bidco Limited (Registered number: 14132104)






Contents of the Financial Statements
for the year ended 30th September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Project Emanuel Bidco Limited

Company Information
for the year ended 30th September 2024







DIRECTORS: J Barrett
S B Braham
Bridges Fund Management Limited





REGISTERED OFFICE: Siding Business Park
Freightliner Road
Hull
HU3 4XA





REGISTERED NUMBER: 14132104 (England and Wales)





AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Project Emanuel Bidco Limited (Registered number: 14132104)

Balance Sheet
30th September 2024

2024 2023
(Unaudited)
Notes £    £    £    £   
FIXED ASSETS
Investments 4 11,532,059 12,227,059

CURRENT ASSETS
Debtors 5 506,834 733,282
Cash at bank 205,000 37,685
711,834 770,967
CREDITORS
Amounts falling due within one year 6 28,323,840 25,625,764
NET CURRENT LIABILITIES (27,612,006 ) (24,854,797 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(16,079,947

)

(12,627,738

)

CREDITORS
Amounts falling due after more than one
year

7

(8,560,000

)

(9,480,000

)

PROVISIONS FOR LIABILITIES - (44,940 )
NET LIABILITIES (24,639,947 ) (22,152,678 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (24,639,948 ) (22,152,679 )
SHAREHOLDERS' FUNDS (24,639,947 ) (22,152,678 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th May 2025 and were signed on its behalf by:





J Barrett - Director


Project Emanuel Bidco Limited (Registered number: 14132104)

Notes to the Financial Statements
for the year ended 30th September 2024

1. STATUTORY INFORMATION

Project Emanuel Bidco Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Project Emanuel Bidco Limited (Registered number: 14132104)

Notes to the Financial Statements - continued
for the year ended 30th September 2024

4. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
(Unaudited)
£    £   
Investments 12,227,059 -
Additions (695,000 ) 29,985,852
Impairments - (17,758,793 )
11,532,059 12,227,059

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(Unaudited)
£    £   
Trade debtors - 148,271
Other debtors 506,834 585,011
506,834 733,282

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(Unaudited)
£    £   
Bank loans and overdrafts 500,000 320,000
Trade creditors 684,151 504,865
Amounts owed to group undertakings 27,044,296 24,654,398
Taxation and social security - (182,725 )
Other creditors 95,393 329,226
28,323,840 25,625,764

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
(Unaudited)
£    £   
Bank loans 8,560,000 9,480,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 8,560,000 8,000,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

Project Emanuel Bidco Limited (Registered number: 14132104)

Notes to the Financial Statements - continued
for the year ended 30th September 2024

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

William Cowell ACA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Bridges Fund Management Limited.