REGISTERED NUMBER: |
ABRIDGED AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 4 MAY 2022 TO 30 SEPTEMBER 2023 |
FOR |
BIL GROUP IH LIMITED |
REGISTERED NUMBER: |
ABRIDGED AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 4 MAY 2022 TO 30 SEPTEMBER 2023 |
FOR |
BIL GROUP IH LIMITED |
BIL GROUP IH LIMITED (REGISTERED NUMBER: 14085053) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 4 MAY 2022 TO 30 SEPTEMBER 2023 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
BIL GROUP IH LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 4 MAY 2022 TO 30 SEPTEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Old Station House |
Station Approach |
Swindon |
Wiltshire |
SN1 3DU |
BIL GROUP IH LIMITED (REGISTERED NUMBER: 14085053) |
ABRIDGED STATEMENT OF FINANCIAL POSITION |
30 SEPTEMBER 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BIL GROUP IH LIMITED (REGISTERED NUMBER: 14085053) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 4 MAY 2022 TO 30 SEPTEMBER 2023 |
1. | STATUTORY INFORMATION |
BIL Group IH Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about BIL Group IH Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its ultimate parent company, PHD Industrial Holdings Limited, whose registered office is 7400 Daresbury Park, Daresbury, Warrington, England, WA4 4BS. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Going concern |
The company expects to continue to meet its day-to-day working capital requirements. The company's forecasts and projections show that the company should continue to be sufficiently cash generative. After making enquiries, 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. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
BIL GROUP IH LIMITED (REGISTERED NUMBER: 14085053) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 4 MAY 2022 TO 30 SEPTEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. |
i. Financial assets |
Basic financial assets, including trade and other receivables, cash and bank balances 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. |
At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
Other financial assets are initially measured at fair value, which is normally the transaction price. |
Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
ii. Financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies 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 receipts discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates. |
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
BIL GROUP IH LIMITED (REGISTERED NUMBER: 14085053) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 4 MAY 2022 TO 30 SEPTEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
iii. Offsetting |
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
Additions | 3,685,859 |
At 30 September 2023 | 3,685,859 |
NET BOOK VALUE |
At 30 September 2023 | 3,685,859 |
The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
BIL Group Holdings Limited |
Registered office: Porte Marsh Road, Calne Wiltshire, SN11 9BW. Incorporated in England and Wales. |
Class of shares: | No. shares held | % holding: |
Ordinary A | 104.00 |
Ordinary B | 96.00 |
200.00 | 100 |
BIL GROUP IH LIMITED (REGISTERED NUMBER: 14085053) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 4 MAY 2022 TO 30 SEPTEMBER 2023 |
5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
6. | ULTIMATE CONTROLLING PARTY |
The parent undertaking of the largest and smallest group within which BIL Group IH Limited belongs and for which group accounts are prepared is PHD Industrial Holdings Limited, The consolidated accounts can be obtained at its registered office address, 7400 Daresbury Park, Daresbury, Warrington, WA4 4BS. |