Registration number:
Bristol Holding Limited
for the Year Ended 31 March 2025
Bristol Holding Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Income Statement |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Bristol Holding Limited
Company Information
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Directors |
H Mack A S Wiseman |
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Registered number |
09485669 |
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Registered office |
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Auditors |
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Bristol Holding Limited
Strategic Report for the Year Ended 31 March 2025
The directors present their strategic report for the year ended 31 March 2025.
Principal activity and business review
The principal activity of the company is that of holding investments. The Company is wholly owned by Bristol City Council and is an intermediate holding company for investments in Bristol Waste Company Limited and Goram Homes Limited. Its principal role is to protect the interests of the shareholder by ensuring effective governance of Bristol City Council's portfolio of trading companies and supporting delivery of activities through those companies that advance its financial, environmental, economic and social policies and practices.
During 2024/25 Bristol Holding Limited continued to improve scrutiny, assurance and risk management processes in order to achieve greater effectiveness of the Council companies as a group. By working together with Bristol City Council and our subsidiary companies, Bristol Holding Limited has strived to create a more robust commercial structure, with a group model, more effective in delivering quality local services efficiently, whilst ensuring a strong contribution to improving social value.
Bristol Holding continued to improve governance in the Council companies, reviewing the risk management framework, the internal audit programme, reviewing business plans and chairing the quarterly assurance meetings, including advising the Shareholder Group. Bristol Holding also attended the companies' quarterly Audit and Risk Committees, to provide further assurance to the shareholder and stakeholders. In addition, Bristol Holding continues to liaise with the liquidators of BE2020 Ltd, with the liquidation anticipated to be completed in 2025. In relation to the liquidation of BE2020 Ltd, an interim liquidation distribution of £0.5m was received in March 2025.
Future developments
During the year the company supported Bristol Waste Company Limited and Goram Homes Limited to implement their Business Plans. Bristol Waste Company Limited continues to build its facilities management business and to build further recycling capacity at Avonmouth. Bristol Waste Company Limited and Goram Homes continue to operate in a challenging environment, given the background of a cost-of-living crisis, inflation and the uncertainty surrounding the housing market caused by interest rate rises. Goram Homes Limited's joint venture with Vistry has now commenced building new homes on the Romney House site in the north of Bristol. Progress is being made at the Baltic Wharf site on Bristol’s harbourside, however planning issues have led to delays. A joint venture has just been agreed with Countryside Partnerships to build homes at the Hengrove site which aims to deliver 1,400 homes including a large proportion for social housing. Following the sale of Bristol Heat Networks Limited, the role of Bristol Holding Ltd is now principally to provide governance and assurance to BCC for Bristol Waste Limited and in Goram Homes Limited. Bristol Holding Ltd has supported Bristol Waste Company and Goram Homes Limited in establishing their own management boards and transferring over to them primary responsibility for governance and risk management. We will continue to monitor the BE2020 liquidation process, expected to complete this year, to ensure Bristol City Council interests are protected.
Principal risks and uncertainties
The principal risk to the company continues to be the performance of its subsidiaries and their ongoing sustainability, along with the expectation of Bristol City Council in its approach to managing its portfolio of wholly-owned companies. The legacy of Bristol Energy (BE 2020 Limited) is continuing to impact Bristol City Council's appetite for risk and exploiting commercial opportunities, particularly in the context of recovering from the impacts of the pandemic, the cost-of-living crisis, and other external threats.
Bristol Holding Limited
Strategic Report for the Year Ended 31 March 2025
Financial results
The profit for the financial year amounted to £457,116 (2024: loss of £89,701).
The profit for the year includes £41,780 of interest expense on the remaining 603,438 preference shares - see notes 8 and 15 to the financial statements for further details.
The shareholders deficit at March 2025 amounts to £395,380 (2024: £852,495).
As the company's only activity is to act as a holding company, the use of further financial Key Performance Indicators is not considered necessary.
Section 172 statement
The Directors are committed to their responsibilities to promote the success of the Company in accordance with Section 172 of the Act. Our intention is to behave responsibly and ensure that management operate the business in an appropriate manner, operating within the high standards of business conduct and good governance expected of us.
The Company is a holding company operating on behalf of Bristol City Council and therefore there are relatively few decisions taken by the directors of the Company during the year. Strategic decisions impacting Bristol City Council's investment generally require the consent of the shareholder and operational decisions impacting wider stakeholder groups, including employees, customers, suppliers and the local communities are typically taken by the directors of the trading subsidiaries within the Group.
However, notwithstanding the above, each director of the Company has taken steps to act in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of members as a whole.
The key decisions made by the directors have been to:
- provide an appropriate risk and governance framework under which the trading subsidiaries are required to operate.
Approved and authorised by the
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Bristol Holding Limited
Directors' Report for the Year Ended 31 March 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
Principal activities and business review
As set out in the Strategic Report, the principal activity of the Company continued to be that of holding investments. The principal risks and uncertainties facing the Company, and their management, are discussed in the Strategic Report, together with a review of the business performance in the year.
Dividends
The directors do not recommend the payment of a dividend (2024: £nil).
Directors of the company
The directors who held office during the year were as follows:
Future developments
Future developments are discussed in the Strategic Report.
Financial risk management
The Company is exposed to liquidity risk as it is required to manage its working capital to ensure that it maintains sufficient cash to enable it to meet its debts as they fall due but is reliant on Bristol City Council to provide further funding. The company has no significant exposure to interest rate risks as its funding is primarily through fixed interest preference shares.
Qualifying third party indemnity provisions
The Company maintains directors’ and officers’ insurance on behalf of its Directors. A qualifying third-party indemnity provision was in force throughout the financial year and also at the date of approval of the financial statements.
Streamlined Energy and Carbon Reporting Regulations
The company is exempt from making disclosures under these regulations as it qualifies as a low energy user.
Disclosure of information to auditors
Each of the persons who are Directors at the time when this Directors’ Report is approved have confirmed that:
· so far as that Director is aware, there is no relevant audit information of which the Company’s auditors are unaware; and
· that Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company’s auditors are aware of the information.
Bristol Holding Limited
Directors' Report for the Year Ended 31 March 2025
Going concern
The Company has net liabilities and is currently reliant upon charges to subsidiaries and work undertaken for its shareholder, Bristol City Council, to meet any debts as they fall due for a period of at least 12 months from the date of these financial statements. So long as there are sufficient resources within the subsidiaries then those liabilities can be honoured. The financial position of Bristol Waste Company Limited, the largest subsidiary within the group provides sufficient reserve. Accordingly, the directors believe that it is appropriate to prepare these financial statements on a going concern basis.
Approved and authorised by the
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Bristol Holding Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law). Under company law the directors must not approve the financial statements unless they are 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 directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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.
Bristol Holding Limited
Independent Auditor's Report to the Members of Bristol Holding Limited
Opinion
We have audited the financial statements of Bristol Holding Limited (the 'company') for the year ended 31 March 2025, which comprise the Income Statement, the Statement of financial position, the Statement of changes in equity and the related 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 March 2025 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 Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
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 financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Bristol Holding Limited
Independent Auditor's Report to the Members of Bristol Holding Limited
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Strategic and Directors’ Report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic report and the Directors' Report 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 or the Directors' report.
We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 6, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Bristol Holding Limited
Independent Auditor's Report to the Members of Bristol Holding 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 Auditors' 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.
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.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, we considered the following:
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the nature of the industry and sector, control environment and business performance; |
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the results of our enquiries of management and the directors about their own identification and assessment of the risk of irregularities; |
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any matters we identified having obtained and reviewed the Company’s documentation of its policies and procedures relating to:
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the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. |
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As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud, which included incorrect recognition of revenue, management override of controls using manual journal entries, and these were identified as the greatest potential area for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
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Bristol Holding Limited
Independent Auditor's Report to the Members of Bristol Holding Limited
Auditor Responsibilities for the audit of the financial statements (continued)
Our procedures to respond to risks identified included the following:
• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
• reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;
• enquiring of management and the directors concerning actual and potential litigation claims;
• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement or fraud;
• reading minutes of meetings of management and directors and reviewing correspondence with external parties;
• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Bristol Holding Limited
Independent Auditor's Report to the Members of Bristol Holding Limited
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.
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For and on behalf of
10 Temple Back
Bristol
BS1 6FL
Bristol Holding Limited
Income Statement for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating loss |
(1,103) |
(68,604) |
|
|
Investment income received from subsidiary |
|
- |
|
|
Interest payable and similar expenses |
( |
( |
|
|
458,220 |
(42,203) |
||
|
Profit/(loss) before tax |
|
( |
|
|
Tax on profit/(loss) |
- |
|
|
|
Profit/(loss) for the financial year |
|
( |
Bristol Holding Limited
(Registration number: 09485669)
Statement of Financial Position as at 31 March 2025
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Note |
2025 |
2024 |
|
|
Fixed assets |
|||
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Investments |
|
|
|
|
Current assets |
|||
|
Debtors |
|
- |
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets/(liabilities) |
|
( |
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net liabilities |
( |
( |
|
|
Capital and reserves |
|||
|
Called up share capital |
36,550,000 |
36,550,000 |
|
|
Retained earnings |
(36,945,380) |
(37,402,497) |
|
|
Total shareholders' deficit |
(395,380) |
(852,497) |
Approved and authorised by the
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Bristol Holding Limited
Statement of Changes in Equity for the Year Ended 31 March 2025
|
Share capital |
Retained earnings |
Total |
|
|
At 1 April 2024 |
|
( |
( |
|
Profit for the year |
- |
|
|
|
At 31 March 2025 |
|
( |
( |
|
Share capital |
Retained earnings |
Total |
|
|
At 1 April 2023 |
|
( |
( |
|
Loss for the year |
- |
( |
( |
|
At 31 March 2024 |
36,550,000 |
(37,402,497) |
(852,497) |
Bristol Holding Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The Company is a wholly-owned subsidiary of Bristol City Council and is included in the consolidated financial statements of Bristol City Council which are publicly available from Bristol City Council, City Hall, College Green, Bristol, BS3 9FS. Consequently, the company has taken advantage of the exemption from preparing consolidated financial statements under the terms of section 400 of the Companies Act 2006.
These financial statements were authorised for issue by the
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Accounting policies |
Statement of compliance
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
Basis of preparation
The financial statements have been prepared on a going concern basis, under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.
The financial statements have been prepared in sterling which is the functional currency of the Company.
The following principal accounting policies have been applied consistently in the preparation of these financial statements.
Summary of disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
· the requirements of Section 4 Statement of Financial Position paragraph 4.12(a)(iv);
· 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 11.39 to 11.48A;
· the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
· the requirements of Section 33 Related Party Disclosures paragraph 33.7.
Bristol Holding Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Going concern
The Company has net liabilities and is currently reliant upon charges to subsidiaries and work undertaken for its shareholder, Bristol City Council to meet any debts as they fall due for a period of at least 12 months from the date of these financial statements. So long as there is sufficient resources within the subsidiaries then those liabilities can be honoured. The financial position of Bristol Waste Company, the largest subsidiary within the group provides sufficient reserve. Accordingly, the directors believe that it is appropriate to prepare these financial statements on a going concern basis.
Other operating income
Operating income arises from management charges receivable from subsidiary companies.
Investments
Investments in subsidiaries are measured at cost less provision for impairment.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Bristol Holding Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Financial instruments
Classification
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Tax
Tax is recognised in the Statement of Comprehensive Income, except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Deferred tax is calculated based on tax rates and laws that have been enacted, or substantively enacted, by the Statement of Financial Position date.
A deferred tax asset is recognised only if it is probable that future taxable profits will be available against which the temporary differences can be utilised.
Bristol Holding Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Judgements in applying accounting policies and key sources of estimation uncertainty |
There are no key accounting judgements or significant estimates made by the directors in the preparation of these financial statements.
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Other income |
Other operating income during the year was received from management charges to subsidiary companies. All amounts arose within the United Kingdom.
Investment income received from subsidiaries relates to a one-off interim distribution of £500,000 as a result of the finalisation of the BE2020 liquidation process.
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Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
|
Employees |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 1).
Bristol Holding Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
One director received no additional remuneration in respect of their role as a director of the company, being renumerated by Bristol City Council.
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest expense on other finance liabilities |
|
|
Interest payable relates to interest charges accruing at 7% on the preference shares issued by the company to Bristol City Council, its shareholder (see also note 14).
|
Taxation |
Tax charged/(credited) in the income statement
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
- |
( |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit/(loss) before tax |
|
( |
|
Corporation tax at standard rate |
|
( |
|
Expenses not deductible for tax purposes |
|
|
|
Adjustment from previous period |
- |
( |
|
Deferred tax not recognised |
|
|
|
Group income |
( |
- |
|
Total tax credit |
- |
( |
Bristol Holding Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Investments |
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
Details of undertakings
Details of the investments 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 |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
Ashton Court Estate, Ashton Court, Long Ashton, Bristol, England, BS41 9JN |
|
|
|
|
|
Albert Road Depot, Albert Road, Bristol, England, BS2 0XS |
|
|
|
|
|
Frp Advisory Trading Limited Kings Orchard, 1 Queen Street, Bristol, BS2 0HQ |
|
|
|
|
Subsidiary undertakings |
|
Goram Homes Limited The principal activity of Goram Homes Limited is |
|
Bristol Waste Company Limited The principal activity of Bristol Waste Company Limited is |
|
BE 2020 Limited The principal activity of BE 2020 Limited is |
|
Debtors |
|
Current |
2025 |
2024 |
|
VAT debtor |
|
- |
|
|
- |
Bristol Holding Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
Ordinary shares of £1 each |
36,550,000 |
36,550,000 |
36,550,000 |
36,550,000 |
During the year, the Company issued no ordinary shares.
|
Profit and loss account |
The profit and loss account represents the retained profits, accumulated losses, and distributions of the Company.
|
Creditors |
|
2025 |
2024 |
|
|
Due within one year |
||
|
Amounts owed to group undertakings |
|
|
|
Trade creditors |
|
|
|
Social security and other taxes |
|
|
|
Accruals and deferred income |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
|
2025 |
2024 |
|
|
Redeemable preference shares |
|
|
During the year, the Company issued no cumulative redeemable preference shares.
All previous redeemable preference shares were issued at a dividend rate of 7% redeemable at the option of the Company within 30 years with mandatory redemption in the year ended 31 March 2048. No premium is payable on redemption.
Bristol Holding Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Financial instruments |
|
2025 |
2024 |
|
|
Financial assets that are debt instruments measured at amortised cost |
2,321 |
- |
|
Financial liabilities measured at amortised cost |
(1,066,045) |
(1,031,435) |
Financial assets measured at amortised cost comprise amounts owed by group undertakings.
Financial liabilities measured at amortised cost comprise amounts owed to group undertakings, other creditors, accruals and preference shares classified as a liability.
|
Related party transactions |
During the year, the Company received recharges from Bristol City Council of £nil (2024: £6,228). The Company made recharges of £nil to Bristol City Council (2024 £nil). As at 31 March 2025 £nil was due to Bristol City Council (2024 £nil). As at 31 March 2025 £nil was owed by Bristol City Council (2024: £nil) other than preference share interest accrued. At 31 March 2025 £nil was owed to Bristol City Council (2024: £nil). Preference Share interest is £350,130 (2024: £307,851).
During the year, the Company made recharges to Bristol Waste Company Limited of £215,160 (2024: 144,996). As at 31 March 2025 £nil was due from Bristol Waste Company Limited (2024: £nil).
During the year, the Company made recharges to Goram Homes Limited of £136,800 (2024: £105,641). As at 31 March 2025 £nil (2024: £nil) was due from Goram Homes Limited.
During the year, the Company made recharges to BE 2020 Limited of £nil (2024: £nil). The Company received recharges of £nil (2024: £nil) from BE 2020 Limited. The Company received a one-off interim distribution of £500,000 as a result of the finalisation of the BE2020 Limited liquidation process. As at 31 March 2025 £nil (2024: £nil) was due from BE 2020 Limited.
|
Ultimate parent undertaking and controlling party |
The immediate and ultimate parent Company and controlling party is Bristol City Council, a company incorporated in the United Kingdom. The financial statements for Bristol City Council are available from the address shown in Note 1. The smallest and largest undertaking for which the company is a member and for which group financial statements are prepared is Bristol City Council.