Registration number:
Prepared for the registrar
for the
Year Ended 31 August 2022
Pold Holdings Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Pold Holdings Limited
Company Information
Director |
J J Vellacott |
Registered office |
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Auditors |
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Pold Holdings Limited
(Registration number: 07115571)
Balance Sheet as at 31 August 2022
Note |
31 August 2022 |
31 August 2021 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors: Amounts falling due after more than one year |
145,592 |
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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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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Total equity |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
Pold Holdings Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Name of parent of group
These financial statements are consolidated in the financial statements of Rubicone Topco Limited.
The financial statements of Rubicone Topco Limited may be obtained from Companies House.
Group accounts not prepared
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Judgements and estimation uncertainty
These financial statements do not contain any significant judgements or estimation uncertainty. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Pold Holdings Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold buildings |
Nil |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Recognition and measurement
Pold Holdings Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
Financial instruments (continued)
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Revenue |
The total turnover of the company for the period has been derived from its principal activity wholly undertaken in the United Kingdom.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was as follows:
Year ended 31 August 2022 |
1 April 2021 to 31 August 2021 |
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Average number of employees |
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Pold Holdings Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
Taxation |
Tax charged in the profit and loss account
Year ended 31 August 2022 |
1 April 2021 to 31 August 2021 |
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Current taxation |
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UK corporation tax |
- |
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Tangible assets |
Freehold buildings |
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Cost |
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At 1 September 2021 and at 31 August 2022 |
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Depreciation |
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At 1 September 2021 and at 31 August 2022 |
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Carrying amount |
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At 31 August 2021 and at 31 August 2022 |
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Investments |
2022 |
2021 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost and carrying amount |
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At 1 September 2021 and at 31 August 2022 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2022 |
2021 |
Subsidiary undertakings |
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Ordinary |
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England and Wales |
The principal activity of Priority Childcare Limited is specialist care services.
Pold Holdings Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
Debtors |
31 August 2022 |
31 August 2021 |
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Amounts owed by group undertakings |
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- |
Less non-current portion |
( |
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Total current trade and other debtors |
- |
- |
Details of non-current trade and other debtors
£145,592 (2021 - £Nil) of Amounts owed by group undertakings is classified as non current.
Creditors |
31 August 2022 |
31 August 2021 |
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Due within one year |
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Other creditors |
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Corporation tax liability |
91,013 |
91,013 |
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Due after one year |
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Amounts owed to group undertakings |
3,178,519 |
3,294,335 |
Contingent liabilities |
The company is bound by an intra-group cross guarantee in respect of bank debt with other members of the group headed by its ultimate parent undertaking, Rubicone Topco Limited. The amount guaranteed is £135,783,498 (2021 - £40,685,000).
Parent and ultimate parent undertaking |
The company's immediate parent company is
The ultimate parent company is
The ultimate controlling party is
Disclosure under Section 444(5B) CA 2006 relating to the independent auditor's report |
As permitted by Section 444 CA 2006, these accounts do not contain a copy of the company's Profit and Loss account or a copy of the Director's Report. Accordingly, the Independent Auditors' Report has also been omitted.