Company No:
Contents
DIRECTORS | A H Cohen |
N J Henry | |
W P Rosenberg |
REGISTERED OFFICE | 35 Ballards Lane |
London | |
N3 1XW | |
United Kingdom |
COMPANY NUMBER | 10623466 (England and Wales) |
CHARTERED ACCOUNTANTS | Berg Kaprow Lewis LLP |
35 Ballards Lane | |
London | |
N3 1XW |
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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285 | 260 | |||
Current assets | ||||
Debtors | 4 |
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6,560,003 | 0 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (184) | (177) | ||
Total assets less current liabilities | 101 | 83 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Fusion Global Investments Holdco Limited (registered number:
A H Cohen
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Fusion Global Investments Holdco Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.
Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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2022 | 2021 | ||
£ | £ | ||
Subsidiary undertakings |
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Participating interests |
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285 | 260 |
Investments in subsidiaries
2022 | |
£ | |
Cost | |
At 01 September 2021 |
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Additions |
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At 31 August 2022 |
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Carrying value at 31 August 2022 |
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Carrying value at 31 August 2021 |
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Investments in associates | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 01 September 2021 |
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Additions |
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At 31 August 2022 |
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Provisions for impairment | |||
At 01 September 2021 |
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At 31 August 2022 |
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Carrying value at 31 August 2022 |
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Carrying value at 31 August 2021 |
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Investments in shares
Name of entity | Registered office | Nature of business | Class of shares |
Ownership 31.08.2022 |
Ownership 31.08.2021 |
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35 Ballards Lane, London, N3 1XW | Property Investment |
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35 Ballards Lane, London, N3 1XW | Property Investment |
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35 Ballards Lane, London, N3 1XW | Property Investment |
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35 Ballards Lane, London, N3 1XW | Property Investment |
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35 Ballards Lane, London, N3 1XW | Property Investment |
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35 Ballards Lane, London, N3 1XW | Property Investment |
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35 Ballards Lane, London, N3 1XW | Property Investment |
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35 Ballards Lane, London, N3 1XW | Holding Company |
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35 Ballards Lane, London, N3 1XW | Holding Company |
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2022 | 2021 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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Other debtors |
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2022 | 2021 | ||
£ | £ | ||
Amounts owed to Group undertakings |
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2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Parent Company:
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The registered office address is 35 Ballards Lane, London, N3 1XW |