Batson Midco Limited - Accounts to registrar (filleted) - small 18.2
Batson Midco Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements |
for the Period 1 February 2020 to 31 December 2020 |
for |
Batson Midco Limited |
Batson Midco Limited (Registered number: 09948064) |
Contents of the Financial Statements |
for the Period 1 February 2020 to 31 December 2020 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Batson Midco Limited |
Company Information |
for the Period 1 February 2020 to 31 December 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Certified Accountants & |
Statutory Auditors |
48 Belle Vue Terrace |
Malvern |
Worcestershire |
WR14 4QG |
Batson Midco Limited (Registered number: 09948064) |
Abridged Balance Sheet |
31 December 2020 |
31.12.20 | 31.1.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
Batson Midco Limited (Registered number: 09948064) |
Notes to the Financial Statements |
for the Period 1 February 2020 to 31 December 2020 |
1. | STATUTORY INFORMATION |
Batson Midco Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Batson Midco Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its ultimate holding company White Mountains Insurance Group Limited, Hanover, New Hampshire, USA. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Basic financial instruments are recognised at amortised cost. |
Non-basic financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the profit and loss. |
Taxation |
Taxation for the period 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. |
Batson Midco Limited (Registered number: 09948064) |
Notes to the Financial Statements - continued |
for the Period 1 February 2020 to 31 December 2020 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The Directors are required to prepare the statutory financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. In satisfaction of this responsibility the Directors have also considered the Company’s ability to meet its liabilities as they fall due. |
The Directors have also paid special attention to the recent COVID-19 outbreak and the potential associated impact on the Company. |
The Directors have therefore reviewed the current and future financial position of the Company, its cash flows, and its liquidity position, specifically in respect of the above and the potential disruption to the business arising from a prolonged period of economic downturn, and any impact that this may have on the future of the industry both on the markets specifically targeted by the company and the industry as a whole. |
Although it is not possible to reliably forecast the length or severity of the COVID-19 outbreak, at the date of approval of the financial statements, the Directors were confident that the existing reserves and support from within the White Mountains Insurance Group together with external facilities will provide sufficient headroom to meet the forecast cash requirements that may have arisen from a downturn in activity as a result of the COVID-19 pandemic. |
As such, the Directors consider that it is appropriate to prepare the financial statements on the going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2020 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 February 2020 |
and 31 December 2020 | 1 |
NET BOOK VALUE |
At 31 December 2020 | 1 |
At 31 January 2020 | 1 |
5. | SECURED DEBTS |
Ares Capital Corporation holds a fixed and floating charge over the assets and undertakings of the Company. |
6. | FINANCIAL INSTRUMENTS |
The Loan Notes were repaid in full on 7 April 2020 during a Group restructure. The finance of the repayment was funded by a short term intercompany loan with Kingsbridge Group Limited, and supported by NSM UK Holdings Limited the head of the Kingsbridge Group of Companies. |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Batson Midco Limited (Registered number: 09948064) |
Notes to the Financial Statements - continued |
for the Period 1 February 2020 to 31 December 2020 |
8. | RELATED PARTY DISCLOSURES |
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. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Kingsbridge Group Limited. |
The ultimate controlling party is |