BCI UK HOLDCO LIMITED

Company Registration Number:
13949027 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 2 March 2022

End date: 31 March 2023

BCI UK HOLDCO LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

BCI UK HOLDCO LIMITED

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal activities of the company

The Company is the parent company of its wholly owned subsidiary, BCI UK Services Limited, which conducts certainregulated activities. The Company’s purpose is to manage overhead and staff costs related to non-investment UKoperations. There were no regulated activities undertaken by BCI UK Services Limited in the period. There is nointention to change the principal activities of the Company.

Political and charitable donations

The Company made no political donations nor incurred any political expenditure for the period ended March 31,2023.

Additional information

Small Companies exemptionThis report has been prepared in accordance with the section 414B relating to small companies exemption withinPart 15 of the Companies Act 2006 and the Company is therefore exempt from the requirement to prepare astrategic report. Consequently this Report of the directors has been prepared in accordance with the smallcompanies provisions of the Companies Act 2006.



Directors

The director shown below has held office during the whole of the period from
2 March 2022 to 31 March 2023

Lea Dubourg-Hrachovec


The directors shown below have held office during the whole of the period from
2 March 2022 to 31 March 2023

Lincoln Webb
James Divoky


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
1 March 2024

And signed on behalf of the board by:
Name: Lea Dubourg-Hrachovec
Status: Director

BCI UK HOLDCO LIMITED

Profit And Loss Account

for the Period Ended 31 March 2023

13 months to 31 March 2023


£
Turnover: 703,372
Gross profit(or loss): 703,372
Administrative expenses: ( 665,708 )
Operating profit(or loss): 37,664
Interest payable and similar charges: ( 37,184 )
Profit(or loss) before tax: 480
Tax: ( 10,179 )
Profit(or loss) for the financial year: (9,699)

BCI UK HOLDCO LIMITED

Balance sheet

As at 31 March 2023

Notes 13 months to 31 March 2023


£
Fixed assets
Tangible assets: 3 2,228,826
Total fixed assets: 2,228,826
Current assets
Debtors: 4 505,000
Cash at bank and in hand: 312,895
Total current assets: 817,895
Prepayments and accrued income: 189,620
Creditors: amounts falling due within one year: 5 ( 1,906,920 )
Net current assets (liabilities): (899,405)
Total assets less current liabilities: 1,329,421
Creditors: amounts falling due after more than one year: 6 ( 1,328,940 )
Provision for liabilities: ( 10,179 )
Total net assets (liabilities): (9,698)
Capital and reserves
Called up share capital: 1
Profit and loss account: (9,699 )
Total Shareholders' funds: ( 9,698 )

The notes form part of these financial statements

BCI UK HOLDCO LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 1 March 2024
and signed on behalf of the board by:

Name: Lea Dubourg-Hrachovec
Status: Director

The notes form part of these financial statements

BCI UK HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Turnover policy

    REVENUE: The Company operates under Management Service Agreements (“MSA”) with its parent company,BCI, and BCI UK IRR Limited, an entity included in BCI’s assets under management on a cost plus recovery basis. SeeRelated Party Transactions. The Company’s performance obligations in connection with management services aresatisfied over time through the rendering of services that have the same pattern of transfer to its customer as costsare incurred. As set forth in the MSAs, the transaction prices allocated to performance obligations are equal to costsincurred except where services are deemed to add value, in which case they attract a mark up and will generateprofit for the Company.

    Tangible fixed assets depreciation policy

    Depreciation: Depreciation is calculated over the depreciable amount, which is the cost of an asset less itsresidual value.Depreciation is recognized in the statement of income and comprehensive income on a straight- line basis over theestimated useful lives of each part of an item of premises and equipment, since this most closely reflects theexpected pattern of consumption of the future economic benefits embodied in the asset.The estimated useful lives for the current and comparative periods are as follows:Buildings 10-25 YearsFurniture and equipment 10 YearsComputers and related software 5 YearsLeasehold improvements and interests are depreciated on a straight-line basis over the anticipated life of the leaseterm. Depreciation methods, useful lives and residual values are reviewed at each financial year end and adjusted ifappropriate.

    Other accounting policies

    BASIS OF CONSOLIDATION Subsidiaries are in the Company’s consolidated financial statements from thedate that control commences until the date that control ceases.The Company consolidates entities when all three of the following characteristics are presentWhere the Company exerts power over the relevant activities of the entity. Power exists if the Company hasdecision making authority over those activities that significantly influence the entity’s returns.Where the Company has exposure or rights to variability of returns of the entity. Exposure exists if theCompany’s returns vary as a result of the performance of the entity.Where there exists a linkage between power and returns as described above. A linkage exists when theCompany can use its power over the activities of the entity to generate returns for itself.FINANCIAL INSTRUMENTSi Recognition and measurement: Financial instruments are required to be classified into one of the followingcategories: amortized cost, fair value through other comprehensive income (“FVOCI”) or fair value through profit orloss (“FVTPL”). All financial instruments are measured at fair value on initial recognition. Measurement insubsequent periods depends on the classification of the financial instrument. Transaction costs are included in theinitial carrying amount of financial instruments except for financial instruments classified as FVTPL in which casetransaction costs are expensed as incurred.Financial assets and financial liabilities are recognized initially on the trade date, which is the date on which theCompany becomes a party to the contractual provisions of the instrument. The Company derecognizes a financialliability when its contractual obligations are discharged, cancelled or expired.Financial assets and liabilities are offset and the net amount presented in the statement of financial position onlywhen the Company has a legal right to offset the amounts and intends either to settle on a net basis or to realizethe asset and settle the liability simultaneously.A financial asset is measured at amortized cost if it meets both of the following conditions:it is held within a business model whose objective is to hold assets to collect contractual cash flows; and its contractual terms give rise on specified dates to cash flows that are solely payments of principal and intereston the principal amount outstanding.The Company has not classified any of its financial assets as FVTPL or FVOCI.The Company has not classified any of its financial liabilities as FVTPL.ii Amortized cost: Financial assets and liabilities classified as amortized cost are recognized initially at fairvalue plus any directly attributable transaction costs. Subsequent measurement is at amortized cost using theeffective interest method, less any impairment losses. The Company classifies cash and cash equivalents, trade andother receivables, related party receivables, trade and other payables and related party payables as amortized cost.LEASES When the Company is a lessee, at the inception of a contract, the Company assesses whether acontract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the useof an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys theright to control the use of an identified asset, the Company assesses whether:the supplier has a substantive substitution right;the Company has the right to obtain substantially all of the economic benefits from use of the asset throughoutthe period; andthe Company has the right to direct the use of the asset. The Company has the right when it has the decisionmakingrights that are most relevant to changing how and for what purpose the asset is used.For contracts that contain a lease the Company recognizes a right-of-use asset, presented under premises andequipment in the statement of financial position, and a lease liability at the lease commencement date. The right-ofuseasset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any leasepayments made at or before the commencement date, plus any initial direct costs incurred, less any leaseincentives received.The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date tothe earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated usefullives of right-of-use assets are determined on the same basis as those of premises and equipment.The lease liability is initially measured at the present value of the lease payments that are unpaid at thecommencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. The lease liability is subsequently measured at amortizedcost using the effective interest rate method. It is remeasured when there is a change in the Company’s estimate ofthe amount expected to be payable under a residual value guarantee, when there is a change in future leasepayments arising from a change in a rate used to determine those payments, or if the Company changes itsassessment of whether it will exercise a purchase, extension or termination option.The Company recognizes interest expense, using the effective interest rate method, as financing interest. The Company does not recognize right-of-use assets and lease liabilities for short-term leases that have a leaseterm of 12 months or less and leases of low-value assets. The Company recognizes the lease payments associatedwith these leases as an expense on a straight-line basis over the lease term.FOREIGN CURRENCY TRANSACTIONS Transactions denominated in foreign currencies are translated byapplying the exchange rate prevailing on the date of the transaction. At each reporting date, all monetary assets andliabilities denominated in foreign currencies are translated into Pounds Sterling at the closing exchange rate. Anyresulting translation adjustments are recorded in net income or loss.TAXATION The Company uses the liability method of accounting for income taxes. Under the liability method,deferred income tax assets and liabilities are recognized on the differences between the carrying amounts of assetsand liabilities and their respective income tax basis (temporary differences).

BCI UK HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    13 months to 31 March 2023
    Average number of employees during the period 0

BCI UK HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 2,108,673 195,836 207,214 2,511,723
Disposals
Revaluations
Transfers
At 31 March 2023 2,108,673 195,836 207,214 2,511,723
Depreciation
Charge for year 282,897 282,897
On disposals
Other adjustments
At 31 March 2023 282,897 282,897
Net book value
At 31 March 2023 1,825,776 195,836 207,214 2,228,826

BCI UK HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Debtors

13 months to 31 March 2023
£
Trade debtors 151,827
Other debtors 353,173
Total 505,000

BCI UK HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due within one year note

13 months to 31 March 2023
£
Amounts due under finance leases and hire purchase contracts 456,739
Trade creditors 124,425
Other creditors 1,325,756
Total 1,906,920

BCI UK HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due after more than one year note

13 months to 31 March 2023
£
Amounts due under finance leases and hire purchase contracts 1,328,940
Total 1,328,940

BCI UK HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

7. Financial Commitments

COMMITMENTSPREMISES Future minimum payments for operating costs which are variable in nature, based on total rentable areaof the lease agreements for office space, are as followsLess than 1 year 160,219Between 1 and 5 years 610,980More than 5 years 0 771,199Auditors’ remuneration agreed for the period was 20,000.