Saddlegreen Limited - Accounts to registrar (filleted) - small 23.1.2
Saddlegreen Limited - Accounts to registrar (filleted) - small 23.1.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
SADDLEGREEN LIMITED |
SADDLEGREEN LIMITED (REGISTERED NUMBER: 04071628) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SADDLEGREEN LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Advantage |
87 Castle Street |
Reading |
Berkshire |
RG1 7SN |
SADDLEGREEN LIMITED (REGISTERED NUMBER: 04071628) |
BALANCE SHEET |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £'000 | £'000 |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
5 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
SADDLEGREEN LIMITED (REGISTERED NUMBER: 04071628) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Saddlegreen Limited is a |
The company did not trade during the year. |
The company and the group continue to wind up the business in an orderly manner and complete a |
litigation process that the company anticipates will result in a refund of corporation tax to the group as a whole.The company and the group continue to receive the support of the family of the majority |
shareholder, who is also the majority bondholder. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. |
As at the balance sheet date, the company had net liabilities of £79,500,000 (2021 - £79,500,000) so the applicability of the going concern basis is dependant upon the continued support of the company;s creditors and financiers. |
In the directors' opinion, the company has the support of its creditors and financiers for the foreseeable future and therefore they considered it appropriate to prepare the financial statements on a going concern basis. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£'000 | £'000 |
Amounts owed to group undertakings |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£'000 | £'000 |
Bank loans more 5 yrs non-inst | 78,300 | 78,300 |
SADDLEGREEN LIMITED (REGISTERED NUMBER: 04071628) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2022 | 2021 |
£'000 | £'000 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
All the company borrowings are secured by cross guarantees from various companies within the Perkins Foods Holdings Limited group and fixed and floating charges across specific assets with the group. The loans are non-interest bearing. |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £'000 | £'000 |
Ordinary | £1 | 4,619 | 4,619 |
7. | 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. |
The family of a former director are the holders of the deep discounted bonds of £35,000,000 (2021 - £35,000,000) |
8. | ULTIMATE CONTROLLING PARTY |
The company's immediate and ultimate parent undertaking is Perkins Foods Holdings Limited, a |
company incorporated in England and Wales. |
The ultimate controlling party is P M Butt. |