Batson Midco Limited - Accounts to registrar (filleted) - small 18.1
Batson Midco Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 January 2018 |
| for |
| Batson Midco Limited |
| Batson Midco Limited (Registered number: 09948064) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2018 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Batson Midco Limited |
| Company Information |
| for the Year Ended 31 January 2018 |
| 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 January 2018 |
| 31/1/18 | 31/1/17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT 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 on |
| Batson Midco Limited (Registered number: 09948064) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2018 |
| 1. | STATUTORY INFORMATION |
| Batson Midco Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 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 undertaking are included by full consolidation in the consolidated financial statements of its ultimate |
| holding company Batson Topco Limited, 9 Miller Court, Severn Drive, Tewkesbury Business Park, Tewkesbury |
| GL20 8DN. |
| 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 year 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. |
| 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 they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2017 - NIL). |
| Batson Midco Limited (Registered number: 09948064) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2018 |
| 4. | FIXED ASSET INVESTMENTS |
| 5. | SECURED DEBTS |
| DCG Nominees Limited as Security Trustee for Dunedin LLP holds a fixed and floating charge over the assets |
| of the company in respect of 'A' Loan notes amounting to £6,000,000 originally issued in Batson Bidco Limited |
| and 'B' Loan notes amounting to £20,821,726 issued in Batson Midco Limited. The debenture was created on 7 |
| October 2016 and was registered at Companies House on 17 October 2016. |
| Royal Bank of Scotland holds a fixed and floating charge over the assets of the company in respect of a |
| £6,000,000 loan in the books of Batson Bidco Limited. The debenture was created on 9 November 2016 and |
| registered as a charge at Companies House on 21 November 2016. |
| 6. | FINANCIAL INSTRUMENTS |
| On 31 May 2016 the Company received funding by way of Loan Notes and totalling £28,210,558. These Loan |
| Notes carry an interest rate of 8% per annum and rolled into and compounded with the principal loan note |
| balance on each interest payment date being the anniversary of the original loan note instrument. |
| The final repayment date of the loan notes is 31 May 2023. |
| Key Management hold loan notes to the value of £7,388,832. |
| Loan Note interest for the year is £2,377,232 (2017 : £1,504,560). |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 8. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Batson Topco Limited. |