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Registration number: 10831097

BeMo Tunnelling UK Ltd

Annual Report and Financial Statements

for the Year Ended 31 December 2022

Pages for Filing with Registrar

 

BeMo Tunnelling UK Ltd

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 9

 

BeMo Tunnelling UK Ltd

Company Information

Directors

H Gohringer

A Lieb

T Wechner

Company secretary

Goodwille Limited

Registered office

24 Old Queen Street
London
SW1H 9HP

Auditors

Bourner Bullock
Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

BeMo Tunnelling UK Ltd

Directors' Report for the Year Ended 31 December 2022

The directors present their report and the financial statements for the year ended 31 December 2022.

Directors of the Company

The directors who held office during the year were as follows:

H Gohringer

A Lieb

T Wechner

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 10 October 2023 and signed on its behalf by:
 

.........................................
Goodwille Limited
Company secretary

 

BeMo Tunnelling UK Ltd

(Registration number: 10831097)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

6

386

-

Current assets

 

Debtors

7

428,285

559,011

Cash at bank and in hand

 

473,063

788,121

 

901,348

1,347,132

Creditors: Amounts falling due within one year

8

(464,611)

(956,311)

Net current assets

 

436,737

390,821

Net assets

 

437,123

390,821

Capital and reserves

 

Called up share capital

20,000

20,000

Retained earnings

417,123

370,821

Shareholders' funds

 

437,123

390,821

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 October 2023 and signed on its behalf by:
 

.........................................
A Lieb
Director

 

BeMo Tunnelling UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2022

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
24 Old Queen Street
London
SW1H 9HP
United Kingdom

Principal activity

The principal activity of the Company is specialising in the construction and refurbishment of civil engineering structures of all kinds.

2

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

These financial statements have been prepared on the going concern basis, which assumes that the company will be able to meet its financial obligations as they fall due for payment for the foreseeable future. The company is reliant upon the continued support of its parent undertaking, BeMo Tunnelling GmbH, to be able to do this. BeMo Tunnelling GmbH has indicated to the directors, that support will be provided as it is required.

 

BeMo Tunnelling UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2022

Turnover 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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

3 year straight line basis

 

BeMo Tunnelling UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2022

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Debtors

Basic financial assets, including trade and other debtors, 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, less any impairment.

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

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 the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

BeMo Tunnelling UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2022

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 10 October 2023 was David Wheeler, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 1 (2021 - 0).

 

BeMo Tunnelling UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2022

6

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2022

1,591

1,591

Additions

397

397

At 31 December 2022

1,988

1,988

Depreciation

At 1 January 2022

1,591

1,591

Charge for the year

11

11

At 31 December 2022

1,602

1,602

Carrying amount

At 31 December 2022

386

386

At 31 December 2021

-

-

7

Debtors

2022
£

2021
£

Trade debtors

314,035

529,108

Prepayments

5,109

3,822

Other debtors

109,141

26,081

428,285

559,011

 

BeMo Tunnelling UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2022

8

Creditors

2022
£

2021
£

Due within one year

 

Trade creditors

 

318,284

33,893

Taxation and social security

 

21,295

39,597

Other creditors

 

125,032

882,821

 

464,611

956,311

9

Dividends

There were no dividends paid or proposed in the current year or previous year.

10

Operating leases

The total of future minimum lease payments is as follows:

2022
 £

2021
 £

Not later than one year

34,400

18,875

11

Parent and ultimate parent undertaking

The company's immediate parent is BeMo Tunnelling GmbH, incorporated in Austria.

 The ultimate parent is Metrostav A.S., incorporated in Czech Republic.

 The most senior parent entity producing publicly available financial statements is Metrostav A.S.. These financial statements are available upon request from Koželužská 2450/4, Prague 8, 180 00, Czech Republic.