REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2023 |
for |
Ilios Holdings Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2023 |
for |
Ilios Holdings Limited |
Ilios Holdings Limited (Registered number: 04525029) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Ilios Holdings Limited |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
140 Coniscliffe Road |
Darlington |
County Durham |
DL3 7RT |
Ilios Holdings Limited (Registered number: 04525029) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Ilios Holdings Limited (Registered number: 04525029) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Ilios Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors assess whether the use of the going concern basis is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved. |
The company has net current liabilities as at 31 March 2023. It is reliant on the continuing support of the group. |
The directors are carrying out a strategic review of the group of which Ilios Holdings Limited is part. This may result in the properties held by the company being moved out of the company. With no decision made yet in this respect, the directors believe that the use of the going concern basis is still appropriate. |
Related party exemption |
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. |
Tangible fixed assets |
Long leasehold property is recognised at cost less any impairment. |
As mentioned in note 5, the 2022 comparative figures have been restated, to reclassify what was previously investment property, to recognise it as long leasehold property instead. |
No depreciation has been charged in relation to that property, as in the opinion of the directors, the value is at least equal to its cost. |
Investment property |
Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
The valuation was carried out by the directors as at the period end. |
Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Ilios Holdings Limited (Registered number: 04525029) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Income recognition |
Other operating income relates primarily to the receipt of rent from fellow group subsidiaries on the long leasehold property and from unrelated third parties on the investment property. Income is recognised in the period to which the rent relates. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Long |
leasehold |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
As explained in note 5, the long leasehold property was previously recognised as investment property. The 2022 balance sheet has been restated to now show £928,072 as long leasehold property. |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Ilios Holdings Limited (Registered number: 04525029) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Other debtors |
Directors' current accounts | 100,000 | - |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | as restated |
£ | £ |
Ordinary | £1 | 2 | 2 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified |
Material uncertainty related to going concern |
We draw attention to note 2 in the financial statements. |
At the time of the approval of the financial statements the directors are carrying out a strategic review of the setup of the group of which Ilios Holdings Limited is part. Although no decision has been made, this may result in the properties moving out of this company. As a result there is a material uncertainty in relation to going concern. |
Our opinion is not modified in respect of this matter. |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Martin Hobson BA (Hons), FCCA (Senior Statutory Auditor) |
for and on behalf of Clive Owen LLP |
Ilios Holdings Limited (Registered number: 04525029) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022: |
2023 | 2022 |
as restated |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
No interest has been charged. |
11. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of Embeck Group Limited, a company registered in England and Wales, whose registered office is the same as for this company. |