Beaubridge SJW Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 09808143 (England and Wales)

BEAUBRIDGE SJW LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 3 OCTOBER 2015 TO 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

Mr P J Buckley

Mr J D Seal

REGISTERED OFFICE:

107 New Bond Street

London

W1S 1ED

REGISTERED NUMBER:

09808143 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

24 Park Road South

Havant

Hampshire

PO9 1HB

FIXED ASSETS

Investments

3

3,204,308

CURRENT ASSETS

Debtors

4

6,556

Cash at bank

19,323

25,879

CREDITORS

Amounts falling due within one year

5

2,652,377

NET CURRENT LIABILITIES

(2,626,498

)

TOTAL ASSETS LESS CURRENT LIABILITIES

577,810

CAPITAL AND RESERVES

Called up share capital

657

Other reserves

625,268

Retained earnings

(48,115

)

SHAREHOLDERS' FUNDS

577,810

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 12 July 2017 and were signed on its behalf by:

Mr P J Buckley - Director

1.	STATUTORY INFORMATION

Beaubridge SJW Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements relate to Beaubridge SJW Limited as an individual entity.

The financial statements are presented in Sterling (£) and rounded to the nearest pound (£).

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that the

will be recovered against the reversal of deferred tax liabilities.

Investments

The company has investments in the form of loan notes, at 0% interest, which are classified as financing

arrangements. The difference between the initial consideration and the present value of future payments,

discounted at a market rate of interest, has also been debited to 'investments'. Amounts equivalent to the

notional interest receivable are credited to the profit and loss account. The loan notes are subject to impairment,

with any impairments identified being charged to the profit and loss account.

Financial instruments

Financial instruments are recognised in line with Sections 11 and 12 of FRS 102.

Basic financial instruments, such as bank and cash, loans, amounts due to/from group undertakings, trade

receivables and payables are initially recognised at transaction price, unless they constitute a financing

arrangement, when the transaction is measured at the present value of the future receipts/payments discounted

at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest

rate method.

Other reserves

The company has loan notes, at 0% interest, which are classed as financing arrangements. The difference

between the initial consideration and the present value of future payments, discounted at a market rate of

interest, has been credited to 'other reserves'. Amounts equivalent to the notional interest charge are transferred

between reserves until the loans are repaid.

3.	FIXED ASSET INVESTMENTS

Shares in

Loans to

group

group

undertakings

undertakings

Totals

£

£

£

COST

Additions

313

3,203,995

3,204,308

At 31 March 2017

313

3,203,995

3,204,308

NET BOOK VALUE

At 31 March 2017

313

3,203,995

3,204,308

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

6,556

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

1,200

Other creditors

2,651,177

2,652,377

6.	RELATED PARTY DISCLOSURES

During the period, the shareholders of the company provided loan notes to the value of £3,274,345, repayable

on 31 December 2019. The loan notes are interest free and are classified as a financing arrangements in

accordance with Section 11 of FRS 102. The loans have been included in the financial statements at the current

estimate of the present value of the future payments, discounted at a market rate of interest. The present value

of the loans at the year end is £2,649,077. Notional interest of £207,580 has been charged during the period.

The company issued loan notes to its associate, Elsworthy SJW Limited, totalling £3,129,686, repayable on 31

December 2019. This amount is included in fixed asset investments, comprising discounted value of the loan

notes of £2,532,042 and capital contributions of £597,644.

During the period, an arrangement fee of £102,850 was paid to Beaubridge (UK) Limited, a company in which Mr

P Buckley and Mr J Seal are directors and shareholders. This amount has been included in investments and

amortised over the term of the loan to which it relates.

7.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors, there is no ultimate controlling party.

8.	EARLY ADOPTION

The company has chosen to adopt FRS 102 Section 1A early from the date of incorporation, 3 October 2015, for

the extended period to 31 March 2017.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Beaubridge SJW Limited for the period ended 31 March 2017 which comprise the Income

Statement, Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Beaubridge SJW Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Beaubridge SJW Limited and state those matters that we have agreed to state to the Board of Directors of Beaubridge SJW Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beaubridge SJW Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Beaubridge SJW Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Beaubridge SJW Limited. You consider that Beaubridge SJW Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Beaubridge SJW Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothman Pantall LLP

Chartered Accountants

24 Park Road South

Havant

Hampshire

PO9 1HB

17 July 2017