Company Registration No. 14554949 (England and Wales)
BBL MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BBL MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BBL MANAGEMENT LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
17,700,000
17,700,000
Current assets
Debtors
4
250,000
250,000
Creditors: amounts falling due within one year
5
(250,000)
(250,000)
Net current assets
Total assets less current liabilities
17,700,000
17,700,000
Creditors: amounts falling due after more than one year
6
(20,085,904)
(18,667,197)
Net liabilities
(2,385,904)
(967,197)
Capital and reserves
Called up share capital
8
25,000
25,000
Share premium account
225,000
225,000
Profit and loss reserves
(2,635,904)
(1,217,197)
Total equity
(2,385,904)
(967,197)
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 31 December 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.
The financial statements were approved by the board of directors and authorised for issue on 6 August 2025 and are signed on its behalf by:
S Ewer
Director
Company Registration No. 14554949
BBL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
BBL Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lake View House, Rennie Drive, Dartford, Kent, England, DA1 5FU.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.4
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.
BBL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors 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.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
2
Employees
There were no employees during the current year or previous period other than the directors.
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
17,700,000
17,700,000
The above investment represents 16.5% in Ordinary shares of Bathroom Brands Limited.
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 January 2024 & 31 December 2024
17,700,000
Carrying amount
At 31 December 2024
17,700,000
At 31 December 2023
17,700,000
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
250,000
250,000
BBL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
250,000
250,000
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Other loans
7
20,085,904
18,667,197
7
Loans and overdrafts
2024
2023
£
£
Other loans
20,085,904
18,667,197
Payable after one year
20,085,904
18,667,197
The company has issued 17,450,000 preference shares with a nominal value of £1 per share, earning a fixed dividend of 7.60% per annum. The preference shares are redeemable at the company’s discretion. The preference shares do not carry any voting, preference rights on dividends and return of capital.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of 1p each
2,500,000
2,500,000
25,000
25,000
B Ordinary share of 1p each
1
1
-
-
On an 'exit' event the A Ordinary shareholders are entitled to value received by the company over and above the preference share issue price and unpaid interest have been paid.
9
Related party transactions
On 30 January 2023 the company acquired 16.5% of Ordinary shares in Bathroom Brands Limited as part of management buy-in (MBI), in exchange for 17,450,000 £1 Preference shares.