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Financial Statements for the Year Ended 31 December 2019 |
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Rev Holding Company (Brotherton) Limited |
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Financial Statements for the Year Ended 31 December 2019 |
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for |
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Rev Holding Company (Brotherton) Limited |
Rev Holding Company (Brotherton) Limited (Registered number: SC552638) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Rev Holding Company (Brotherton) Limited |
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Company Information |
for the Year Ended 31 December 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Certified Accountants & |
Statutory Auditors |
48 Belle Vue Terrace |
Malvern |
Worcestershire |
WR14 4QG |
Rev Holding Company (Brotherton) Limited (Registered number: SC552638) |
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Abridged Balance Sheet |
31 December 2019 |
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31.12.19 | 31.12.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 7 | ( |
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Retained earnings | ( |
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( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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Rev Holding Company (Brotherton) Limited (Registered number: SC552638) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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Rev Holding Company (Brotherton) Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Going concern |
The Directors are required to prepare the statutory financial statements on the going concern basis unless it is |
inappropriate to presume that the Company will continue in business. In satisfaction of this responsibility the |
Directors have also considered the Company’s ability to meet its liabilities as they fall due. |
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The Directors have also paid special attention to the recent COVID-19 outbreak and the potential associated |
impact on the Company. |
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The Directors have therefore reviewed the current and future financial position of the Company, its cash flows, |
and its liquidity position, specifically in respect of the above and the potential disruption to the business arising |
from a prolonged period of economic downturn, and any impact that this may have on the future of the industry |
both on the markets specifically targeted by the company and the industry as a whole. |
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Although it is not possible to reliably forecast the length or severity of the COVID-19 outbreak, at the date of |
approval of the financial statements, the Directors were confident that the existing reserves and support from its |
ultimate parent Sedgwick Trading Limited together with external facilities will provide sufficient headroom to |
meet the forecast cash requirements that may arise from a downturn in activity as a result of the COVID-19 |
pandemic. |
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As such, the Directors consider that it is appropriate to prepare the financial statements on the going concern |
basis. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost. |
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Non-basic financial instruments are initially recorded at cost and thereafter at fair value with changes recognised |
in profit and loss. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
Rev Holding Company (Brotherton) Limited (Registered number: SC552638) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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4. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 January 2019 | 1 |
Additions | 99 |
At 31 December 2019 | 100 |
NET BOOK VALUE |
At 31 December 2019 | 100 |
At 31 December 2018 | 1 |
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5. | SECURED DEBTS |
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The loan from Santander UK PLC is secured by a fixed and floating charges over all of the property and |
undertakings of REV Holding Company (Brotherton) Limited. During the year a charge was created on 25th |
June 2019 and delivered on the 9th July. |
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6. | FINANCIAL INSTRUMENTS |
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Under FRS 102, derivative financial instruments are classified as 'other financial instruments' and are recognised |
as a financial asset or liability at fair value when an entity becomes party to the contractual provisions of the |
instrument. |
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At the end of the current year the Mark to Market (MTM) valuation of the derivative instrument was £182,294 |
in favour of the lender, and is deemed to be the fair value. The fair value of the derivative instrument at 31 |
December 2019 has been included both within Other Creditors and the Fair Value Reserve. |
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The market valuations are provided by Santander, the lender. |
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7. | RESERVES |
Fair |
value |
reserve |
£ |
SWAP Fair Value Reserve | (182,294 | ) |
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At 31 December 2019 | ( |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Sedgwick Trading Limited |
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The company has no ultimate controlling party. |