REGISTERED NUMBER: |
Bulb Midco 2 Limited |
Financial Statements |
for the Year Ended 31 October 2022 |
REGISTERED NUMBER: |
Bulb Midco 2 Limited |
Financial Statements |
for the Year Ended 31 October 2022 |
Bulb Midco 2 Limited (Registered number: 13582491) |
Contents of the Financial Statements |
for the year ended 31 October 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Bulb Midco 2 Limited |
Company Information |
for the year ended 31 October 2022 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Chartered Accountants and Statutory Auditor |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
Bulb Midco 2 Limited (Registered number: 13582491) |
Balance Sheet |
31 October 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Debtors: amounts falling due after more than one year |
5 |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 8 |
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 and authorised for issue on |
Bulb Midco 2 Limited (Registered number: 13582491) |
Notes to the Financial Statements |
for the year ended 31 October 2022 |
1. | Statutory information |
Bulb Midco 2 Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at band and bank overdrafts which are an integral part of the company's cash management. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Going concern |
Although the company has net liabilities of £1,531,287 at the balance sheet date, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Smart Electronic Technologies Ltd has provided confirmation that it will provide financial support to the company as necessary. Accordingly, the directors have adopted the going concern basis of accounting in preparing the annual financial statements. |
3. | Employees and directors |
The average number of employees during the year was NIL (2021 - NIL). |
4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 November 2021 |
and 31 October 2022 |
Net book value |
At 31 October 2022 |
At 31 October 2021 |
Bulb Midco 2 Limited (Registered number: 13582491) |
Notes to the Financial Statements - continued |
for the year ended 31 October 2022 |
4. | Fixed asset investments - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Unit 3, The Western Centre, Western Road, Bracknell, England, RG12 1RW |
Nature of business: |
% |
Class of shares: | holding |
5. | Debtors: amounts falling due after more than one year |
2022 | 2021 |
£ | £ |
Amounts owed by group undertakings |
6. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
7. | Creditors: amounts falling due after more than one year |
2022 | 2021 |
£ | £ |
Other loans - 2-5 years |
Amounts owed to group undertakings |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary shares | £1 | 1 | 1 |
9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Auditors' Report was unqualified. |
for and on behalf of |
10. | Related party disclosures |
Included within other loans falling due after more than one year are amounts totalling £13,677,453 due to the shareholders of the immediate parent company. |
11. | Ultimate controlling party |
The ultimate controlling party is Bestport Ventures LLP. |