REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
Bahia Blanca Management Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
Bahia Blanca Management Limited |
Bahia Blanca Management Limited (Registered number: 10560001) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Bahia Blanca Management Limited (Registered number: 10560001) |
Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | 8 | ( |
) | ( |
) |
( |
) | ( |
) |
The financial statements were approved by the director and authorised for issue on |
Bahia Blanca Management Limited (Registered number: 10560001) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | Statutory information |
Bahia Blanca Management Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Bahia Blanca Management Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Critical accounting judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
Bahia Blanca Management Limited (Registered number: 10560001) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | Accounting policies - continued |
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost. |
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Bahia Blanca Management Limited (Registered number: 10560001) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | Accounting policies - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
As at 30 June 2024, the company's liabilities exceeded its assets and the balance sheet at that date showed net liabilities of £1,969,509 (2023: £1,871,752). Following the transfer of the company's trade to another group company in the year ended 30 June 2022, Bahia Blanca Management Limited is dependent upon the continuing financial support of the group and the financial statements have accordingly been prepared on the going concern basis. |
4. | Employees and directors |
The average number of employees during the year was |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 July 2023 |
and 30 June 2024 |
Provisions |
At 1 July 2023 |
and 30 June 2024 | 30,000 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
Bahia Blanca Management Limited (Registered number: 10560001) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | Debtors: amounts falling due within one year |
30.6.24 | 30.6.23 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | Creditors: amounts falling due within one year |
30.6.24 | 30.6.23 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
8. | Reserves |
Retained |
earnings |
£ |
At 1 July 2023 | ( |
) |
Deficit for the year | ( |
) |
At 30 June 2024 | ( |
) |
Profit and loss account - This reserve records distributable retained earnings and accumulated losses. |
9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | Ultimate controlling party |
The immediate parent company of Bahia Blanca Management is Perblau 2000 SL., a company incorporated in Spain. This company is part of a group controlled by Nakar Inversiones Hoteleras SL, which is the ultimate parent company of Bahia Blanca Management Limited. Nakar Inversiones Hoteleras SL is also incorporated in Spain (c/Calabria, 129, entresuelo, 08015, Barcelona). |