Fuel Juice Bidco Limited - Accounts to registrar (filleted) - small 18.2
Fuel Juice Bidco Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements For The Period 1 October 2016 to 31 March 2018 |
for |
Fuel Juice Bidco Limited |
Fuel Juice Bidco Limited (Registered number: SC434152) |
Contents of the Financial Statements |
For The Period 1 October 2016 to 31 March 2018 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Fuel Juice Bidco Limited |
Company Information |
For The Period 1 October 2016 to 31 March 2018 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
Fuel Juice Bidco Limited (Registered number: SC434152) |
Statement of Financial Position |
31 March 2018 |
2018 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
Fuel Juice Bidco Limited (Registered number: SC434152) |
Notes to the Financial Statements |
For The Period 1 October 2016 to 31 March 2018 |
1. | STATUTORY INFORMATION |
Fuel Juice Bidco 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 |
The financial statements have been prepared on the going concern basis. The directors consider that the going |
concern basis is appropriate as although the company has net liabilities, related parties will support the company |
for the foreseeable future to enable all liabilities to be met as they fall due. On this basis, the directors consider |
that it is appropriate that the going concern basis continues to be adopted in preparing the financial statements. |
Financial reporting standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial |
statements, as permitted by FRS102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland": |
- the requirement of Section 33 Related Party Disclosures paragraph 33.7. |
Turnover |
Turnover represents charges from other group companies in respect of services provided by management in the |
year. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
Fixed asset investments |
Investments are measured at cost less impairment as fair value cannot be reliably measured without undue cost or |
effort. |
Financial instruments |
Financial instruments are included on the statement of financial position in respect of loan notes which have been |
both acquired and issued by Fuel Juice Midco Limited. They are recognised at the value of proceeds received |
and paid less direct issue costs. Interest is recognised in the statement of comprehensive income on an accruals |
basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Fuel Juice Bidco Limited (Registered number: SC434152) |
Notes to the Financial Statements - continued |
For The Period 1 October 2016 to 31 March 2018 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 October 2016 |
and 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 30 September 2016 |
The company's investments at the Statement of Financial Position date in the share capital of companies include |
the following: |
Registered office: Regent Court, 70 West Regent Street, Glasgow, United Kingdom, G2 2QZ |
Nature of business: |
% |
Class of shares: | holding |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2016 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2016 |
£ | £ |
Other creditors |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2016 |
£ | £ |
Loan notes | 1,672,238 | 1,672,238 |
Accruals | - | 757,593 |
8. | FINANCIAL INSTRUMENTS |
On 21 December 2012, the company issued £1,672,238 of 2027 unsecured 12% loan notes. Interest payable on |
these loan notes has been written off in the period. At the period end, all of these loan notes were held by Fuel |
Juice Midco Limited, the 100% shareholder of the company. |
Fuel Juice Bidco Limited (Registered number: SC434152) |
Notes to the Financial Statements - continued |
For The Period 1 October 2016 to 31 March 2018 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
We draw attention to Note 2 in the financial statements, which indicates that the Company incurred a net loss of |
£1,354,677 during the period ended 31 March 2018 and, as of that date, the Company's current liabilities |
exceeded its total assets by £1,279,047. As stated in Note 2, this indicates that a material uncertainty exists exists |
that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not |
modified in respect of this matter. |
for and on behalf of |
10. | CONTINGENT LIABILITIES |
A composite guarantee exists between the company and Fuel Juice Bars Limited for it's overdraft with Santander. |
The liability at 31 March 2018 is £250,817 (30 September 2016 - £722,487). Santander UK plc also hold a |
floating charge over all the property or undertaking of the company. |
11. | ULTIMATE CONTROLLING PARTY |
The company's immediate parent undertaking is Fuel Juice Midco Limited, Regent Court, 70 West Regent Street, |
Glasgow, G2 2QZ, and the ultimate parent company is Kings Park Capital (Jersey) Topco Limited. The |
immediate group which the company is included within consolidated accounts of is Fuel Juice Topco Limited. |