Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseInspection Engineers77trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00283243 2023-01-01 2023-12-31 00283243 2022-01-01 2022-12-31 00283243 2023-12-31 00283243 2022-12-31 00283243 c:Director3 2023-01-01 2023-12-31 00283243 d:Buildings 2023-01-01 2023-12-31 00283243 d:Buildings 2023-12-31 00283243 d:Buildings 2022-12-31 00283243 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00283243 d:MotorVehicles 2023-01-01 2023-12-31 00283243 d:MotorVehicles 2023-12-31 00283243 d:MotorVehicles 2022-12-31 00283243 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00283243 d:FurnitureFittings 2023-01-01 2023-12-31 00283243 d:FurnitureFittings 2023-12-31 00283243 d:FurnitureFittings 2022-12-31 00283243 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00283243 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00283243 d:CurrentFinancialInstruments 2023-12-31 00283243 d:CurrentFinancialInstruments 2022-12-31 00283243 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00283243 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00283243 d:ShareCapital 2023-12-31 00283243 d:ShareCapital 2022-12-31 00283243 d:SharePremium 2023-12-31 00283243 d:SharePremium 2022-12-31 00283243 d:RetainedEarningsAccumulatedLosses 2023-12-31 00283243 d:RetainedEarningsAccumulatedLosses 2022-12-31 00283243 c:FRS102 2023-01-01 2023-12-31 00283243 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00283243 c:FullAccounts 2023-01-01 2023-12-31 00283243 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00283243 d:WithinOneYear 2023-12-31 00283243 d:WithinOneYear 2022-12-31 00283243 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 00283243










B.I.E. INTERNATIONAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
B.I.E. INTERNATIONAL LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF B.I.E. INTERNATIONAL LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B.I.E. International Limited for the year ended 31 December 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of B.I.E. International Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of B.I.E. International Limited and state those matters that we have agreed to state to the Board of Directors of B.I.E. International Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B.I.E. International Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that B.I.E. International Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of B.I.E. International Limited. You consider that B.I.E. International Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of B.I.E. International Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Shorts
 
Chartered Accountants
  
2 Ashgate Road
Chesterfield
Derbyshire
S40 4AA
10 April 2024
Page 1

 
B.I.E. INTERNATIONAL LIMITED
REGISTERED NUMBER: 00283243

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
99,287
104,227

Current assets
  

Debtors: amounts falling due within one year
 5 
286,709
290,156

Cash at bank and in hand
  
682,643
759,619

  
969,352
1,049,775

Creditors: amounts falling due within one year
 6 
(366,946)
(360,822)

Net current assets
  
 
 
602,406
 
 
688,953

Total assets less current liabilities
  
701,693
793,180

  

Net assets
  
701,693
793,180


Capital and reserves
  

Called up share capital 
  
57,000
57,000

Share premium account
  
23,000
23,000

Profit and loss account
  
621,693
713,180

  
701,693
793,180


Page 2

 
B.I.E. INTERNATIONAL LIMITED
REGISTERED NUMBER: 00283243
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 April 2024.



M J Watson
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
B.I.E. INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

B.I.E. International Limited is a company limited by shares, incorporated in England and Wales (registered number: 00283243). Its registered office is Chatsworth Technology Park, Dunston Road, Chesterfield, Derbyshire, S41 8XA. Its principal activity is that of inspection engineers.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
B.I.E. INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The depreciation rates used are:

Freehold property
-
2%
Motor vehicles
-
25%
Fixtures and fittings
-
range of 25% to 33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
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.

Page 5

 
B.I.E. INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Pounds Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.6

Operating leases: the Company as lessee

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

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 6

 
B.I.E. INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 January 2023
177,154
24,317
130,499
331,970


Additions
-
-
7,130
7,130


Disposals
-
-
(56,271)
(56,271)



At 31 December 2023

177,154
24,317
81,358
282,829



Depreciation


At 1 January 2023
82,138
17,170
128,435
227,743


Charge for the year on owned assets
3,543
6,079
1,992
11,614


Disposals
-
-
(55,815)
(55,815)



At 31 December 2023

85,681
23,249
74,612
183,542



Net book value



At 31 December 2023
91,473
1,068
6,746
99,287



At 31 December 2022
95,016
7,147
2,064
104,227


5.


Debtors

2023
2022
£
£


Trade debtors
114,595
133,761

Amounts owed by group undertakings
136,887
118,577

Other debtors
13,762
17,658

Prepayments and accrued income
21,465
20,160

286,709
290,156


Page 7

 
B.I.E. INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
10,081
15,597

Amounts owed to group undertakings
350,415
335,307

Other taxation and social security
-
3,973

Other creditors
6,450
5,945

366,946
360,822



7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £17,750 (2022: £17,768). There were no outstanding contributions payable to the fund at the balance sheet date.


8.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£



Not later than 1 year
-
2,334

-
2,334


9.


Controlling party

The Company is a wholly owned subsidiary of B.I.E. Group Limited, a company incorporated in England and Wales. The ultimate parent company and the smallest group for which consolidated financial statements are prepared is B.I.E. Group Inc., a company incorporated in the United States and the address of the registered office is 1880 South Dairy Ashford Road, Houston, Texas, 77077, United States of America. B.I.E. Group Inc. is controlled by G A Rush. 

 
Page 8