|
Registered number: 08006774
BAMFORD GORE BROWNE LIMITED
(FORMERLY KNOWN AS VALEBOND CONSULTANTS LIMITED)
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
|
|
|
|
|
BAMFORD GORE BROWNE LIMITED
(FORMERLY KNOWN AS VALEBOND CONSULTANTS LIMITED)
REGISTERED NUMBER:08006774
|
BALANCE SHEET
AS AT 31 DECEMBER 2024
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current and non-current assets
|
|
|
|
|
|
Debtors: amounts falling due after more than one year
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
|
Provision for dilapidations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BAMFORD GORE BROWNE LIMITED
(FORMERLY KNOWN AS VALEBOND CONSULTANTS LIMITED)
REGISTERED NUMBER:08006774
|
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 10 form part of these financial statements.
|
|
|
|
|
BAMFORD GORE BROWNE LIMITED
(FORMERLY KNOWN AS VALEBOND CONSULTANTS LIMITED)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Bamford Gore Browne Limited is a private company, limited by shares, incorporated in England and
Wales with registration number of 08006774. The registered office is North Bailey House, 12 New Inn
Hall Street, Oxford, England, OX1 2RP.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
|
|
|
Exemption from preparing consolidated financial statements
|
The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
The company expects the continued support of the shareholder, who has confirmed will provide such financial support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing of the financial statements of the company.
Revenue is comprised of management fees, income received from investments, interest income and realised gains and losses arising on the sale of investments. 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 at the fair value of the consideration received or receivable.
|
|
|
Operating leases: the company as lessee
|
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Interest income is recognised in profit or loss using the effective interest method.
|
|
|
|
|
BAMFORD GORE BROWNE LIMITED
(FORMERLY KNOWN AS VALEBOND CONSULTANTS LIMITED)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.
Tax is recognised in profit or loss except that a charge 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.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
|
|
|
|
|
Fixtures, fittings and office equipment
|
|
|
|
|
|
|
|
Leasehold property & improvements
|
|
|
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
|
|
|
|
|
BAMFORD GORE BROWNE LIMITED
(FORMERLY KNOWN AS VALEBOND CONSULTANTS LIMITED)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Investments in subsidiaries and associates, including loans to subsidiaries, are measured at cost less accumulated impairment.
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Associates are held at cost less impairment.
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.
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.
|
|
|
Provisions for liabilities
|
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial
|
|
|
|
|
BAMFORD GORE BROWNE LIMITED
(FORMERLY KNOWN AS VALEBOND CONSULTANTS LIMITED)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
|
|
|
Financial instruments (continued)
|
Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.
|
|
The average monthly number of employees, including directors, during the year was 3 (2023 - 3).
|
|
|
Leasehold property & improvements
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge for the year on owned assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BAMFORD GORE BROWNE LIMITED
(FORMERLY KNOWN AS VALEBOND CONSULTANTS LIMITED)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
|
|
Investments in subsidiary companies
|
Investments in associates
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The cost of the listed investments as at 31 December 2024 was £4,381,742 (2023 - £4,377,970).
* A loan to a subsidiary totalling £953,930 included in the brought forward balance has been reclassified to other debtors within current assets (note 6) to reflect that it is now expected to be settled in the short term. In addition, loans to subsidiaries totalling £1,439,218 included in the brought forward balance has been reclassified during the year to investments in subsidiary companies to reflect the amounts advanced are considered capital investment.
|
|
|
|
|
|
BAMFORD GORE BROWNE LIMITED
(FORMERLY KNOWN AS VALEBOND CONSULTANTS LIMITED)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
|
|
Due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other taxation and social security
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BAMFORD GORE BROWNE LIMITED
(FORMERLY KNOWN AS VALEBOND CONSULTANTS LIMITED)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
|
|
|
|
|
|
|
Financial assets measured at fair value through profit or loss
|
|
|
|
|
Financial assets measured at fair value through profit or loss comprise cash at bank and in hand and
listed investments.
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
1 (2023 - 1) Ordinary share of £1
|
|
|
The company has provided a guarantee and indemnity in favour of a third party in respect of the obligations of Atmos Comms Group Limited under the Beyond 2050 Ltd sale agreement.
Under this arrangement, the company has guaranteed Atmos Comms Group Limited's performance obligations to a third party, including the payment of deferred consideration of up to £979,705 and any contingent earn out payments that may arise in accordance with the terms of the agreement.
At the reporting date, Atmos Comms Group Limited is meeting its contractual obligations as they fall due and no defualt is anticiapated. Accordingly, no provision has been recognised in these financial statements.
The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £985 (2023 - £Nil). Contributions totaling £292 (2023 - £Nil) were payable to the fund at the balance sheet date and are included in other creditors.
|
|
|
|
|
BAMFORD GORE BROWNE LIMITED
(FORMERLY KNOWN AS VALEBOND CONSULTANTS LIMITED)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
|
|
Related party transactions
|
|
|
Included within other loans (Note 8) are loans of £43,381,789 (2023 - £42,781,119) due to Mr J Bamford, a director of the company. This loan is unsecured, interest free and repayable on demand.
Included within other loans is an amount of £7,312,757 (2023 - £314,562) due to HydraB Power Limited, a company under common control. The balance is unsecured, interest free and repayable on demand.
Included within other debtors within current assets is a loan of £953,930 (2023 - £5,437,565) due from Bamford Property Ireland Limited, a subsidiary of the company. The interest rate is 4% per annum above Bank of England base rate, the full amount of the loan is unsecured and repayable on demand. The aggregate amount of interest of £1,433,277 (2023 - £1,428,153) is included in other debtors as accrued income (Note 6).
Included within other debtors within current assets is a loan of £142,129 (2023 - £nil) due from Atmos Comms Group Limited, a subsidiary of the company. This loan is unsecured, interest free and repayable on demand.
Included within fixed asset investments is a loan of £Nil (2023 - £199,949) due from Tempo Entertainment Limited, a subsidiary of the company. This loan was unsecured, interest free and repayable on demand.
Included within fixed asset investments is a loan of £4,459,718 (2023 - £4,671,150) due from Fincas Emily S.L., a subsidiary of the company. This loan was unsecured, interest free and repayable on demand.
Included within other debtors (Note 6) is an amount of £1,387,001 (2023 - £875,000) due from SafeCypher Limited, a company under common control. This balance is unsecured, interest free and repayable on demand.
During the year the company acquired an associate from a director of Bamford Gore Browne Limited for a consideration of £450,000. The investment was subsequently transferred to Atmos Comms Group Limited, a subsidiary of the company, for nil consideration, realising a loss on disposal.
|
|
|
Post balance sheet events
|
On 7 April 2025, the company purchased additional shares in SafeCypher Limited, a company previously deemed an associate. As a result of the additional share purchase SafeCypher became a subsidiary of Bamford Gore Browne Limited.
Included in other debtors was a loan due to The Original Biltong Company Ltd, a company under common control. On 15 October 2025, it was agreed that only £45,000 of this loan would be repaid and therefore the value of the remaining unpaid balance has been impaired in these accounts.
|
|
|