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REGISTERED NUMBER: 03533573 (England and Wales)














Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 29 September 2022

for

B D I Group Ltd

B D I Group Ltd (Registered number: 03533573)

Contents of the Consolidated Financial Statements
for the Year Ended 29 September 2022










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 16


B D I Group Ltd

Company Information
for the Year Ended 29 September 2022







DIRECTORS: J A Elder
C Darlaston





SECRETARY: Dr C N P Elder





REGISTERED OFFICE: Brooke Court
Lower Meadow Road
Handforth
Wilmslow
SK9 3ND





REGISTERED NUMBER: 03533573 (England and Wales)





AUDITORS: SB&P
Chartered Accountants & Statutory Auditors
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

B D I Group Ltd (Registered number: 03533573)

Group Strategic Report
for the Year Ended 29 September 2022


The directors present their strategic report of the company and the group for the year ended 29 September 2022.

REVIEW OF BUSINESS - DIVERSIFIED AND PROFITABLE
The Group continues to have interests in importing, utilities, financial services, and property, and is currently considering new opportunities and diversifying into other sectors.

All businesses have performed well, and we are confident that this will continue into the future.

The one exception is the Capital Life Group, which has undergone a number of changes post year end as a result of Capital Life Funeral Planning not getting authorised by the FCA. We withdrew our application as a result, we believe, of getting poor advice from a reputable and experienced legal firm that specialises in FCA matters. We have since taken advice from leading Counsel on this matter, who also concurs with our understanding and as such is very confident we have a substantial and valid claim in this regard.

Our financial advisors are now being instructed to determine the value of the business (including other group activities) at the time at which we withdrew our application to the FCA, in order to allow us to look to recover all our consequential losses and damages as a direct result of the negligent advice we believe we received from the above legal advisors, which we expect to be considerable.

PRINCIPAL RISKS AND UNCERTAINTIES
All operations are currently coping well post-pandemic, although we monitor the success of new business streams closely and will also be managing the deferred consideration position regarding our financial services businesses.

The directors continually monitor risk, and manage the businesses in a risk-averse manner.

CORPORATE SOCIAL RESPONSIBILITY AND SECTION 172(1) STATEMENT
The group is aware of worldwide environment issues and contributes where it can to industry initiatives in all its trading activities, and in making environmentally-friendly choices

The group is an equal-opportunities employer and ensures that its recruitment and training processes and office environment are as free from equality issues as possible. It uses external expertise to help in this endeavour where necessary.

The directors continue to act in accordance with Section 172 of the Companies Act 2006, acting in good faith the promote the interests of the group, its members, its employees, the community, the environment, and other interested third parties where relevant, aiming to maintain high standards of governance and behaviour.

FINANCIAL SUMMARY AND KPI’S
Group turnover increased by 512.5 to £29.5m which represents good growth especially in difficult economic circumstances.

Post tax profits shrank by £1.5m to £2.0m, due to increases in wages and other admin costs. A small dividend of £39k was declared (PY = £39k).

Shareholders' funds therefore grew by £1.7m to £13.5m (prior year growth £2.8m).

The cash and funding ability of the business remains strong.

ON BEHALF OF THE BOARD:





J A Elder - Director


12 February 2024

B D I Group Ltd (Registered number: 03533573)

Report of the Directors
for the Year Ended 29 September 2022


The directors present their report with the financial statements of the company and the group for the year ended 29 September 2022.

DIVIDENDS
No interim dividend was paid during the year. The directors recommend a final dividend of £390.39 per share.

The total distribution of dividends for the year ended 29 September 2022 will be £ 39,039 .

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
J A Elder has held office during the whole of the period from 30 September 2021 to the date of this report.

Other changes in directors holding office are as follows:

C Darlaston - appointed 3 December 2021

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





J A Elder - Director


12 February 2024

Report of the Independent Auditors to the Members of
B D I Group Ltd


Opinion
We have audited the financial statements of B D I Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 29 September 2022 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 29 September 2022 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
B D I Group Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).
In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the sector in which it operates. We determined that the following laws and regulations were most significant: the Companies Act 2006, UK employment laws and UK tax laws, together with the laws and regulations relevant to the individual subsidiary companies;
- We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management, reviewing any board meeting minutes, and reviewing the legal costs incurred in the year and enquiring with management as to the circumstances around these legal costs.
- We assessed the susceptibility of the Company's financial statements to materiality misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included:
- identifying the controls that management has in place to prevent and detect fraud;-challenging assumptions and judgements made by management in its significant accounting estimates;
- auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business;
- assessing the extent of compliance with the relevant laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
B D I Group Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Suzanne Draper FCCA ACA (Senior Statutory Auditor)
for and on behalf of SB&P
Chartered Accountants & Statutory Auditors
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

12 February 2024

B D I Group Ltd (Registered number: 03533573)

Consolidated Income Statement
for the Year Ended 29 September 2022

29.9.22 29.9.21
Notes £    £    £    £   

TURNOVER 3 29,484,520 26,214,894

Cost of sales 17,791,967 17,713,376
GROSS PROFIT 11,692,553 8,501,518

Distribution costs 1,760,037 406,302
Administrative expenses 7,537,701 3,998,962
9,297,738 4,405,264
2,394,815 4,096,254

Other operating income 146,055 182,034
OPERATING PROFIT 5 2,540,870 4,278,288

Income from interest in associated
undertakings

70,939

(71,061

)
Income from other participating interests 16,258 -
Income from fixed asset investments - 4,557
Interest receivable and similar income 7,939 410
95,136 (66,094 )
2,636,006 4,212,194

Interest payable and similar expenses 6 28,166 17,346
PROFIT BEFORE TAXATION 2,607,840 4,194,848

Tax on profit 7 638,499 684,517
PROFIT FOR THE FINANCIAL YEAR 1,969,341 3,510,331
Profit attributable to:
Owners of the parent 1,460,255 2,886,224
Non-controlling interests 509,086 624,107
1,969,341 3,510,331

B D I Group Ltd (Registered number: 03533573)

Consolidated Other Comprehensive Income
for the Year Ended 29 September 2022

29.9.22 29.9.21
Notes £    £   

PROFIT FOR THE YEAR 1,969,341 3,510,331


OTHER COMPREHENSIVE INCOME
Foreign exchange translation 16,602 (5,372 )
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

16,602

(5,372

)
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

1,985,943

3,504,959

Total comprehensive income attributable to:
Owners of the parent 1,476,857 2,880,852
Non-controlling interests 509,086 624,107
1,985,943 3,504,959

B D I Group Ltd (Registered number: 03533573)

Consolidated Balance Sheet
29 September 2022

29.9.22 29.9.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 3,022,655 3,116,875
Investments 12
Interest in associate 153,172 82,233
Investment property 13 4,042,732 -
7,218,559 3,199,108

CURRENT ASSETS
Stocks 14 9,804,899 7,060,004
Debtors 15 34,581,218 23,960,919
Investments 16 3,882 230,291
Cash at bank and in hand 4,613,643 8,026,931
49,003,642 39,278,145
CREDITORS
Amounts falling due within one year 17 40,665,454 14,176,183
NET CURRENT ASSETS 8,338,188 25,101,962
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,556,747

28,301,070

CREDITORS
Amounts falling due after more than one
year

18

(487,820

)

(15,365,737

)

PROVISIONS FOR LIABILITIES 21 (44,677 ) (20,028 )
NET ASSETS 15,024,250 12,915,305

CAPITAL AND RESERVES
Called up share capital 22 100 100
Present value reserve 23 316,303 -
Retained earnings 23 13,274,803 11,836,985
SHAREHOLDERS' FUNDS 13,591,206 11,837,085

NON-CONTROLLING INTERESTS 1,433,044 1,078,220
TOTAL EQUITY 15,024,250 12,915,305

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





J A Elder - Director


B D I Group Ltd (Registered number: 03533573)

Company Balance Sheet
29 September 2022

29.9.22 29.9.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 2,752,782 2,914,513
Investments 12 534 5,636
Investment property 13 - -
2,753,316 2,920,149

CURRENT ASSETS
Debtors 15 4,794,783 6,021,852
Cash at bank 3,526,897 1,537,839
8,321,680 7,559,691
CREDITORS
Amounts falling due within one year 17 2,075,411 1,862,348
NET CURRENT ASSETS 6,246,269 5,697,343
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,999,585

8,617,492

PROVISIONS FOR LIABILITIES 21 14,994 11,362
NET ASSETS 8,984,591 8,606,130

CAPITAL AND RESERVES
Called up share capital 22 100 100
Retained earnings 23 8,984,491 8,606,030
SHAREHOLDERS' FUNDS 8,984,591 8,606,130

Company's profit for the financial year 417,500 939,383

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





C Darlaston - Director


B D I Group Ltd (Registered number: 03533573)

Consolidated Statement of Changes in Equity
for the Year Ended 29 September 2022

Called up Present
share Retained value
capital earnings reserve
£    £    £   

Balance at 30 September 2020 100 8,995,172 -

Changes in equity
Dividends - (39,039 ) -
Total comprehensive income - 2,880,852 -
Balance at 29 September 2021 100 11,836,985 -

Changes in equity
Dividends - (39,039 ) -
Total comprehensive income - 1,476,857 -
Present value reserve - - 316,303
Balance at 29 September 2022 100 13,274,803 316,303
Non-controlling Total
Total interests equity
£    £    £   

Balance at 30 September 2020 8,995,272 480,383 9,475,655

Changes in equity
Dividends (39,039 ) (26,270 ) (65,309 )
Total comprehensive income 2,880,852 624,107 3,504,959
Balance at 29 September 2021 11,837,085 1,078,220 12,915,305

Changes in equity
Dividends (39,039 ) (154,262 ) (193,301 )
Total comprehensive income 1,476,857 509,086 1,985,943
Present value reserve 316,303 - 316,303
Balance at 29 September 2022 13,591,206 1,433,044 15,024,250

B D I Group Ltd (Registered number: 03533573)

Company Statement of Changes in Equity
for the Year Ended 29 September 2022

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 30 September 2020 100 7,705,686 7,705,786

Changes in equity
Dividends - (39,039 ) (39,039 )
Total comprehensive income - 939,383 939,383
Balance at 29 September 2021 100 8,606,030 8,606,130

Changes in equity
Dividends - (39,039 ) (39,039 )
Total comprehensive income - 417,500 417,500
Balance at 29 September 2022 100 8,984,491 8,984,591

B D I Group Ltd (Registered number: 03533573)

Consolidated Cash Flow Statement
for the Year Ended 29 September 2022

29.9.22 29.9.21
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,637,513 6,426,315
Interest paid (20,911 ) (10,985 )
Interest element of hire purchase payments
paid

(7,255

)

(6,361

)
Tax paid (475,741 ) (10,884 )
Net cash from operating activities 1,133,606 6,398,085

Cash flows from investing activities
Purchase of tangible fixed assets (359,887 ) (1,180,806 )
Purchase of current asset investments - (100,000 )
Purchase of investment property (4,042,732 ) -
Sale of tangible fixed assets (2,343 ) 1,732
Sale of current asset investments 241,832 -
Interest received 7,939 410
Net cash from investing activities (4,155,191 ) (1,278,664 )

Cash flows from financing activities
Loan repayments in year (10,000 ) (2,500 )
Capital repayments in year (22,437 ) (13,265 )
Amount introduced by directors 4,667,447 4,583,448
Amount withdrawn by directors (4,979,885 ) (4,259,995 )
Dividends paid to minority interests (154,262 ) -
Net cash from financing activities (499,137 ) 307,688

(Decrease)/increase in cash and cash equivalents (3,520,722 ) 5,427,109
Cash and cash equivalents at beginning
of year

2

8,026,931

2,599,822

Cash and cash equivalents at end of year 2 4,506,209 8,026,931

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 29 September 2022


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
29.9.22 29.9.21
£    £   
Profit before taxation 2,607,840 4,194,848
Depreciation charges 485,575 29,645
Loss on disposal of fixed assets 22,746 2,404
Gain on revaluation of fixed assets (15,423 ) (31,622 )
Foreign exchange translation 25,407 (9,466 )
Finance costs 28,166 17,346
Finance income (95,136 ) 66,094
3,059,175 4,269,249
Increase in stocks (2,744,895 ) (140,338 )
Increase in trade and other debtors (10,371,377 ) (9,332,021 )
Increase in trade and other creditors 11,694,610 11,629,425
Cash generated from operations 1,637,513 6,426,315

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 29 September 2022
29.9.22 30.9.21
£    £   
Cash and cash equivalents 4,613,643 8,026,931
Bank overdrafts (107,434 ) -
4,506,209 8,026,931
Year ended 29 September 2021
29.9.21 30.9.20
£    £   
Cash and cash equivalents 8,026,931 2,599,822


B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 29 September 2022


3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 30.9.21 Cash flow changes At 29.9.22
£    £    £    £   
Net cash
Cash at bank
and in hand 8,026,931 (3,413,288 ) 4,613,643
Bank overdrafts - (107,434 ) (107,434 )
8,026,931 (3,520,722 ) 4,506,209

Liquid resources
Current asset
investments 230,291 (226,409 ) - 3,882
230,291 (226,409 ) - 3,882
Debt
Finance leases (55,631 ) 22,437 - (93,870 )
Debts falling due
within 1 year (10,000 ) - - (10,000 )
Debts falling due
after 1 year (37,500 ) 10,000 - (27,500 )
(103,131 ) 32,437 - (131,370 )
Total 8,154,091 (3,714,694 ) - 4,378,721

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements
for the Year Ended 29 September 2022


1. STATUTORY INFORMATION

B D I Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The group financial statements incorporate the financial statements of B D I Group Limited ('the Company') and entities controlled by the Company )its 'subsidiaries') made up to 29 September each year. Control is achieved where the Company has the power to govern the financial and operational policies of an investee entity so as to obtain benefits from its activities. Subsidiaries are fully consolidated from the date on which control was transferred to the group. They are de-consolidated from the date that control ceases.

The acquisition of subsidiaries is accounted for using the acquisition method. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition related costs are expenses as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair value at the acquisition date. The excess of the consideration transferred and the acquisition date fair value of any previous equity interest in the acquire over the fair value of the Group's share of the identifiable assets acquired is recorded as goodwill.

Intercompany transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectation sof future events that are believed to be reasonable under the circumstances. The group makes estimates and assumptions concerning the future.

The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

When an asset is purchased it is categorised into an asset class, the depreciation policy of each class estimates the economic life of all assets with the class. The depreciation policy of each asset class is determined by management and reviewed regularly for appropriateness. The depreciation policy adopted is based on historic experience as well as considering the future events which may impact the useful economic life of all assets within each class, such as changes in market demand.

In addition, FRS 102 requires an entity to assess at each reporting date whether there is any indication that assets within a class may be impaired i.e. the recoverable amount of the asset is less than the carrying amount. If any such indication exists, management are required to estimate the recovered amount of the individual assets concerned.

Management judgement is applied to determine if revenue and costs should be recognised in the current period.

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 33% on cost and 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Current asset investments
Current asset investments are investments held in portfolios which can be quickly converted into cash at short notice without incurring a financial penalty.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

29.9.22 29.9.21
£    £   
Stainless steel tube piping 21,898,466 14,596,493
Funeral and probate services 6,737,748 5,711,807
Property development 5,116 5,078,000
Utilities markets 843,190 828,594
29,484,520 26,214,894

An analysis of turnover by geographical market is given below:

29.9.22 29.9.21
£    £   
United Kingdom 13,891,471 15,977,915
Europe 15,493,912 10,164,080
Rest of the World 99,137 72,899
29,484,520 26,214,894

4. EMPLOYEES AND DIRECTORS
29.9.22 29.9.21
£    £   
Wages and salaries 3,097,320 1,964,583
Social security costs 331,831 215,831
Other pension costs 372,586 166,863
3,801,737 2,347,277

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
29.9.22 29.9.21

Director 1 1
Office 65 51
Warehouse 25 24
91 76

29.9.22 29.9.21
£    £   
Directors' remuneration 86,436 11,237
Directors' pension contributions to money purchase schemes 89,206 5,421

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

5. OPERATING PROFIT

The operating profit is stated after charging:

29.9.22 29.9.21
£    £   
Other operating leases 211,500 194,827
Depreciation - owned assets 112,223 85,319
Depreciation - assets on hire purchase contracts 6,337 9,257
Loss on disposal of fixed assets 22,746 2,404
Auditors' remuneration 65,750 45,189
Foreign exchange differences 340,384 24,062

6. INTEREST PAYABLE AND SIMILAR EXPENSES
29.9.22 29.9.21
£    £   
Bank interest 228 19
Bank loan interest 617 306
Interest on corporation tax 1,748 18
PAYE Interest 85 -
Interest payable 18,233 10,642
Hire purchase 7,255 6,361
28,166 17,346

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
29.9.22 29.9.21
£    £   
Current tax:
UK corporation tax 638,585 703,771
Under/(over)provision of corporation tax (24,665 ) (38,830 )
Total current tax 613,920 664,941

Deferred tax 24,579 19,576
Tax on profit 638,499 684,517

UK corporation tax has been charged at 19 % (2021 - 19 %).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

29.9.22 29.9.21
£    £   
Profit before tax 2,607,840 4,194,848
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2021 - 19 %)

495,490

797,021

Effects of:
Expenses not deductible for tax purposes 146,997 3,126
Income not taxable for tax purposes (16,566 ) -
Capital allowances in excess of depreciation - (8,092 )
Depreciation in excess of capital allowances 56,933 -
Utilisation of tax losses (14,850 ) -
Adjustments to tax charge in respect of previous periods (24,665 ) (38,830 )
Group relief 3,224 -
Adjustment due to foreign tax (10,834 ) (68,539 )
Revaluation 2,770 (169 )
Total tax charge 638,499 684,517

Tax effects relating to effects of other comprehensive income

29.9.22
Gross Tax Net
£    £    £   
Foreign exchange translation 16,602 - 16,602

29.9.21
Gross Tax Net
£    £    £   
Foreign exchange translation (5,372 ) - (5,372 )

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
29.9.22 29.9.21
£    £   
Ordinary shares of £1 each
Final 39,039 39,039

10. INTANGIBLE FIXED ASSETS

Group
Computer
software
£   
COST
At 30 September 2021
and 29 September 2022 9,600
AMORTISATION
At 30 September 2021
and 29 September 2022 9,600
NET BOOK VALUE
At 29 September 2022 -
At 29 September 2021 -

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


11. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 30 September 2021 2,776,863 197,376 233,200
Additions - 268,700 36,192
Disposals - - (27,749 )
Impairments - (371,688 ) -
Exchange differences - - 6,687
At 29 September 2022 2,776,863 94,388 248,330
DEPRECIATION
At 30 September 2021 102,083 1,787 128,638
Charge for year 47,437 3,948 20,693
Eliminated on disposal - - (16,783 )
Impairments - (4,673 ) -
Exchange differences - - 700
At 29 September 2022 149,520 1,062 133,248
NET BOOK VALUE
At 29 September 2022 2,627,343 93,326 115,082
At 29 September 2021 2,674,780 195,589 104,562

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 30 September 2021 51,433 161,859 55,631 3,476,362
Additions 27,422 83,143 5,106 420,563
Disposals (13,187 ) (49,329 ) - (90,265 )
Impairments - - - (371,688 )
Exchange differences 201 761 - 7,649
At 29 September 2022 65,869 196,434 60,737 3,442,621
DEPRECIATION
At 30 September 2021 33,200 78,362 15,417 359,487
Charge for year 2,952 26,580 16,950 118,560
Eliminated on disposal (9,894 ) (43,185 ) - (69,862 )
Impairments - - - (4,673 )
Exchange differences 484 15,270 - 16,454
At 29 September 2022 26,742 77,027 32,367 419,966
NET BOOK VALUE
At 29 September 2022 39,127 119,407 28,370 3,022,655
At 29 September 2021 18,233 83,497 40,214 3,116,875

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


11. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 30 September 2021 17,970 41,036 59,006
Additions - 60,676 60,676
Exchange differences - 882 882
At 29 September 2022 17,970 102,594 120,564
DEPRECIATION
At 30 September 2021 7,238 6,574 13,812
Charge for year 2,146 4,191 6,337
Exchange differences - 10,127 10,127
At 29 September 2022 9,384 20,892 30,276
NET BOOK VALUE
At 29 September 2022 8,586 81,702 90,288
At 29 September 2021 10,732 34,462 45,194

Company
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 30 September 2021 2,776,863 197,376 5,212 49,639 3,029,090
Additions - 268,700 1,551 5,107 275,358
Impairments - (371,688 ) - - (371,688 )
At 29 September 2022 2,776,863 94,388 6,763 54,746 2,932,760
DEPRECIATION
At 30 September 2021 102,083 1,787 1,282 9,425 114,577
Charge for year 47,437 3,948 1,738 16,951 70,074
Impairments - (4,673 ) - - (4,673 )
At 29 September 2022 149,520 1,062 3,020 26,376 179,978
NET BOOK VALUE
At 29 September 2022 2,627,343 93,326 3,743 28,370 2,752,782
At 29 September 2021 2,674,780 195,589 3,930 40,214 2,914,513

Included in cost of land and buildings is freehold land of £ 405,000 (2021 - £ 405,000 ) which is not depreciated.

The company has opted to apply the Triennial review 2017 amendments and elected to measure an investment property rented to another group entity as freehold property and measure the property at cost (less depreciation and impairment) under FRS 102 Section 17 Property, Plant and Equipment.

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


12. FIXED ASSET INVESTMENTS

Group
Interest
in
associate
£   
COST
At 30 September 2021 82,233
Share of profit/(loss) 70,939
At 29 September 2022 153,172
NET BOOK VALUE
At 29 September 2022 153,172
At 29 September 2021 82,233
Company
Unlisted
investments
£   
COST
At 30 September 2021 5,636
Disposals (5,102 )
At 29 September 2022 534
NET BOOK VALUE
At 29 September 2022 534
At 29 September 2021 5,636

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Combined Utilities Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Utilities
%
Class of shares: holding
Ordinary 75.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 25,767 92
Profit/(loss) for the year 545,670 (58,368 )

On 1 October 2021, following a share reclassification, the holdings of Combined Utilities Limited changes to 75%.

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


12. FIXED ASSET INVESTMENTS - continued

iSee Properties Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Property development
%
Class of shares: holding
Ordinary 76.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1,379,042 1,382,483
(Loss)/profit for the year (3,341 ) 1,656,595

Capital Life Funeral Planning Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Funeral planning
%
Class of shares: holding
Ordinary 100.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 103,661 48,498
Profit for the year 880,163 46,699

On 5 November 2021, B D I Group Limited transferred the shares to a related party.

Energy Advisory Centre Ltd
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1 1

John Elder Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Non trading
%
Class of shares: holding
Ordinary 75.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 25 25

Special Products in Industry Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 100 100

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


12. FIXED ASSET INVESTMENTS - continued

SPI Group Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Non trading
%
Class of shares: holding
Ordinary 75.76
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 991 991

Preminox Holdings Limited
Registered office: c/o Philip Barnes & Co Limited, The Old Council Chambers, Halford Street, Tamworth, Staffordshire, England. B79 7RB
Nature of business: Holding company
%
Class of shares: holding
Ordinary 94.34
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 75,848 100
Profit for the year 75,748 -

Capital Life Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Non trading
%
Class of shares: holding
Ordinary 100.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves (1,399 ) 3,458
Loss for the year (9,856 ) -

On 5 November 2021, B D I Group Limited transferred the shares to a related party.

Capital Life Law Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves (279 ) 1
Loss for the year (280 ) -

On 5 November 2021, B D I Group Limited transferred the shares to a related party.

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


12. FIXED ASSET INVESTMENTS - continued

Capital Life Legal Services Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 290,842 1
Loss for the year (25,462 ) -

On 5 November 2021, B D I Group Limited transferred the shares to a related party.

SPC Planning 1 Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 99.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1 1

SPC Planning 2 Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 99.01
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1 1

The Funeral Directors Alliance Ltd
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1 1

Capital Life Group Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1 1
Profit for the year 825,000 -

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


12. FIXED ASSET INVESTMENTS - continued

SPI Tubesales Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1 1

Steelit Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 1.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1 1

Capital Life Independent Trustee Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1 1

SPI UK Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 75.76
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 100 100

SPI Automotive Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 75.76
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 100 100

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


12. FIXED ASSET INVESTMENTS - continued

SPI Europe Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 75.76
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 100 100

SPI International Limited
Registered office: Brooke Court, Lower Meadow Road, Handforth, Wilmslow, England. SK9 3ND
Nature of business: Dormant
%
Class of shares: holding
Ordinary 75.76
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 100 100

Preminox Group Limited
Registered office: c/o Philip Barnes & Co Limited, The Old Council Chambers, Halford Street, Tamworth, Staffordshire, B79 7RB
Nature of business: Holding company
%
Class of shares: holding
Ordinary 71.47
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1,913,221 1,492,365
Profit for the year 52,919 399,505

Preminox Limited
Registered office: c/o Philip Barnes & Co Limited,Old Council Chambers, Halford Street, Tamworth, Staffordshire, B79 7RB
Nature of business: Wholesale of stainless steel tub piping
%
Class of shares: holding
Ordinary 71.47
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1,453,196 778,964
Profit for the year 1,074,233 517,140

Preminox Spain S.L.
Registered office: Centrovia, C/Los Angeles 42, 50196, La Muela, Zaragoza, Spain
Nature of business: Wholesale of stainless steel pipes
%
Class of shares: holding
Ordinary 71.47
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 9,656 (12,659 )
Profit/(loss) for the year 21,886 (15,486 )

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


12. FIXED ASSET INVESTMENTS - continued

Preminox s.r.o.
Registered office: Zlatovska cesta, 2415/33C,911 38, Trencin, Slovakia
Nature of business: Wholesale of stainless steel tube pipes
%
Class of shares: holding
Ordinary 71.47
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 306,574 167,198
Profit for the year 120,046 132,611

Preminox Polska Sp. Zo.o
Registered office: ul. Pilsudskiego 130,32-540, Trzebinia, Poland
Nature of business: Wholesale of stainless steel tubes
%
Class of shares: holding
Ordinary 71.47
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 72,775 171,745
Profit for the year 9,248 106,792

Preminox s.r.l.
Registered office: Rue Bon Espoir 17, 4041, Milmort, Belgium
Nature of business: Wholesale of stainless steel tubes
%
Class of shares: holding
Ordinary 71.47
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 167,737 94,949
Profit for the year 86,030 116,917

HKMT Limited
Registered office: Rooms 904-905 9/F Belgian Bank Building, 721-725 Nathan Road, Mongkok, Hong Kong
Nature of business: Dormant
%
Class of shares: holding
Ordinary 71.47
29.9.22 29.9.21
£    £   
Aggregate capital and reserves 1,287 1,287


B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
Additions 4,042,732
At 29 September 2022 4,042,732
NET BOOK VALUE
At 29 September 2022 4,042,732

14. STOCKS

Group
29.9.22 29.9.21
£    £   
Stocks 9,804,899 7,060,004

15. DEBTORS

Group Company
29.9.22 29.9.21 29.9.22 29.9.21
£    £    £    £   
Amounts falling due within one year:
Trade debtors 32,508,768 6,608,316 - -
Amounts owed by group undertakings - - 4,789,813 5,306,470
Other debtors 87,419 844,756 4,970 712,055
Derivatives 10,318 2,536 - -
Tax 627,659 2,263 - -
VAT 95,343 123,025 - -
Accrued income 29,213 605,884 - -
Prepayments 578,481 482,967 - 3,327
33,937,201 8,669,747 4,794,783 6,021,852

Amounts falling due after more than one year:
Trade debtors 437,018 15,291,172 - -
Prepayments 206,999 - - -
644,017 15,291,172 - -

Aggregate amounts 34,581,218 23,960,919 4,794,783 6,021,852

16. CURRENT ASSET INVESTMENTS

Group
29.9.22 29.9.21
£    £   
Listed investments 3,882 230,291

Market value of listed investments held by the group at 29 September 2022 - £3,882 (2021 - £230,291).

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.9.22 29.9.21 29.9.22 29.9.21
£    £    £    £   
Bank loans and overdrafts (see note 19) 117,434 10,000 - -
Hire purchase contracts (see note 20) 24,662 18,566 - -
Payments on account 64,390 73,542 - -
Trade creditors 5,588,521 5,054,441 112 1,229
Amounts owed to group undertakings - - 1,425,342 1,203,509
Tax 1,164,131 873,731 233,524 210,526
Social security and other taxes 110,367 89,772 3,279 -
Pension 4,053 7,384 - -
VAT - - 100,463 76,892
Other creditors 33,115,430 7,415,512 57,236 5,215
Net wages 7,184 4,572 - -
Directors' current accounts 54,647 344,304 54,647 344,304
Deferred income - - 186,480 -
Accrued expenses 414,635 284,359 14,328 20,673
40,665,454 14,176,183 2,075,411 1,862,348

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
29.9.22 29.9.21
£    £   
Bank loans (see note 19) 27,500 37,500
Hire purchase contracts (see note 20) 69,208 37,065
Other creditors - 15,291,172
Deferred income 184,113 -
Accrued expenses 206,999 -
487,820 15,365,737

19. LOANS

An analysis of the maturity of loans is given below:

Group
29.9.22 29.9.21
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 107,434 -
Bank loans 10,000 10,000
117,434 10,000
Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 17,500 27,500

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
29.9.22 29.9.21
£    £   
Net obligations repayable:
Within one year 24,662 18,566
Between one and five years 69,208 37,065
93,870 55,631

21. PROVISIONS FOR LIABILITIES

Group Company
29.9.22 29.9.21 29.9.22 29.9.21
£    £    £    £   
Deferred tax 44,677 20,028 14,994 11,362

Group
Deferred
tax
£   
Balance at 30 September 2021 20,028
Charge to Income Statement during year 24,579
Foreign exchange difference 70
Balance at 29 September 2022 44,677

Company
Deferred
tax
£   
Balance at 30 September 2021 11,362
Charge to Income Statement during year 3,632
Balance at 29 September 2022 14,994

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.9.22 29.9.21
value: £    £   
100 Ordinary £1 100 100

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


23. RESERVES

Group
Present
Retained value
earnings reserve Totals
£    £    £   

At 30 September 2021 11,836,985 - 11,836,985
Profit for the year 1,460,255 1,460,255
Dividends (39,039 ) (39,039 )
Foreign exchange translation 16,602 - 16,602
Present value reserve - 316,303 316,303
At 29 September 2022 13,274,803 316,303 13,591,106

Company
Retained
earnings
£   

At 30 September 2021 8,606,030
Profit for the year 417,500
Dividends (39,039 )
At 29 September 2022 8,984,491


24. CONTINGENT ASSETS/LIABILITIES

Contingent Liabilities

With regards to Stainless Steel sales, during a prior reporting period the European Fraud Office concluded an investigation regarding the suspected evasion of anti-dumping duties imposed on seamless pipes and tubes of stainless steel originating in the People's Republic of China.

As a result of this, the group has been charged additional duty costs of £837,463 relating to purchases made from investigated suppliers.

The group is currently disputing this liability which has been delayed due to the Covid-19 pandemic. As the group's management and advisors deem this to be as likely to occur as not, no provision has been reflected in the accounts.

It has been highlighted to the group that is the duties were ruled to be payable, interest would be chargeable.

Contingent Assets

In relation to the ongoing dispute, the group has paid two charges of anti-dumping duties in order to release goods through customs. The charges in question amount to £69,433 of which the directors are of the opinion that this will be refundable if the group are successful in their dispute.

With regards to Probate sales, in the event a final estate is valued at an amount greater than the original plan purchased, a levy equal to 1.95% of the difference between the two will be applied and charged to the estate.

The group is unable to quantify amounts reliably, accordingly it does not account for such income.

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2022


25. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 September 2022 and 29 September 2021:

29.9.22 29.9.21
£    £   
J A Elder
Balance outstanding at start of year - 18,188
Amounts advanced 4,943,597 4,256,695
Amounts repaid (4,943,597 ) (4,274,883 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

26. RELATED PARTY DISCLOSURES

Key management personnel of the entity or its parent (in the aggregate)
29.9.22 29.9.21
£    £   
Amount due to related party 54,647 344,304

Amounts owed to key management personnel relate to an interest free loan with no fixed terms of repayment.

Amounts owed to entities over which the entity has control, joint control or significant influence comprise interest free loans with no fixed terms of repayment.

27. POST BALANCE SHEET EVENTS

On 26 October 2022 Capital Life Funeral Planning Ltd (03534103) signed an agreement, transferred all of its existing prepaid funeral plans to Dignity Funerals Limited, with effect from 31 October 2022.

On 12 September 2023, the shares held in Capital Life Legal Services Limited (13257860) and Capital Life Limited (10614402) were sold to a third party.

28. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J A Elder.