Relate AccountsProduction v2.7.3 v2.7.3 2023-01-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the group is the wholesale trade of bio-degradable products 1 February 2024 3 4 NI678465 2023-12-31 NI678465 2022-12-31 NI678465 2021-12-31 NI678465 2023-01-01 2023-12-31 NI678465 2022-01-01 2022-12-31 NI678465 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI678465 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI678465 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI678465 uk-bus:FullAccounts 2023-01-01 2023-12-31 NI678465 uk-bus:Director1 2023-01-01 2023-12-31 NI678465 uk-bus:Director2 2023-01-01 2023-12-31 NI678465 uk-bus:Director3 2023-01-01 2023-12-31 NI678465 uk-bus:Director4 2023-01-01 2023-12-31 NI678465 uk-bus:RegisteredOffice 2023-01-01 2023-12-31 NI678465 uk-bus:Agent1 2023-01-01 2023-12-31 NI678465 uk-core:ShareCapital 2023-12-31 NI678465 uk-core:ShareCapital 2022-12-31 NI678465 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI678465 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI678465 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI678465 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI678465 uk-bus:FRS102 2023-01-01 2023-12-31 NI678465 uk-bus:Audited 2023-01-01 2023-12-31 NI678465 uk-core:WithinOneYear 2023-12-31 NI678465 uk-core:WithinOneYear 2022-12-31 NI678465 uk-core:ParentEntities 2023-01-01 2023-12-31 NI678465 uk-core:UltimateParent 2023-01-01 2023-12-31 NI678465 uk-countries:Italy 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI678465
 
 
Biobag UK Limited
 
Financial Statements
 
for the financial year ended 31 December 2023



Biobag UK Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Rory Hogarty
Mr Anders Fransson
Patrick Fogelström
Mr Paul Rafferty (Resigned 29 September 2023)
 
 
Company Registration Number NI678465
 
 
Registered Office 16 Mount Charles
Belfast
BT7 1NZ
 
 
Business Address 97 Loughmallon Road
Pomeroy
Dungannon
BT70 2SX
 
 
Independent Auditors Muldoon & Co
16 Mount Charles
Belfast
BT7 1NZ
Northern Ireland
 
 
Bankers Bank of Ireland
  12 Trevor Hill
  Newry
  BT34 1DT



Biobag UK Limited
Company Registration Number: NI678465
STATEMENT OF FINANCIAL POSITION
as at 31 December 2023

2023 2022
Notes £ £
 
Current Assets
Debtors 5 19,574 196,013
Cash and cash equivalents 57,241 25,167
───────── ─────────
76,815 221,180
───────── ─────────
Creditors: amounts falling due within one year 6 (73,832) (191,441)
───────── ─────────
Net Current Assets 2,983 29,739
───────── ─────────
Total Assets less Current Liabilities 2,983 29,739
═════════ ═════════
 
Capital and Reserves
Called up share capital 1,000 1,000
Retained earnings 1,983 28,739
───────── ─────────
Equity attributable to owners of the company 2,983 29,739
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.
           
Approved by the Board and authorised for issue on 1 February 2024 and signed on its behalf by
           
           
________________________________          
Mr. Rory Hogarty          
Director          
           



Biobag UK Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Biobag UK Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI678465. The registered office of the company is 16 Mount Charles, Belfast, BT7 1NZ. The principal activity of the group is the wholesale trade of bio-degradable products The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. INFORMATION RELATING TO THE AUDITOR'S REPORT
 
The Audit Report was unqualified. There were no matters to which the auditor was required to refer by way of emphasis.
 
The financial statements were audited by Muldoon & Co.
The Auditor's Report was signed by Mr Robert Barr (Senior Statutory Auditor) for and on behalf of Muldoon & Co on 1st February 2024.
 
       
4. Employees
 
  2023 2022
  Number Number
 
Directors 3 4
  ═════════ ═════════
       
5. Debtors 2023 2022
  £ £
 
Trade debtors 19,574 196,013
  ═════════ ═════════
       
6. Creditors 2023 2022
Amounts falling due within one year £ £
 
Trade creditors 59 3,951
Amounts owed to group undertakings 42,738 119,465
Taxation  (Note 7) 19,764 51,027
Other creditors 1,422 11,898
Accruals 9,849 5,100
  ───────── ─────────
  73,832 191,441
  ═════════ ═════════
       
7. Taxation 2023 2022
  £ £
 
Creditors:
VAT 19,764 45,739
Corporation tax - 5,288
  ───────── ─────────
  19,764 51,027
  ═════════ ═════════
       
8. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
   
9. Parent and ultimate parent company
 
The company regards Biobag International AS as its parent company by virtue of its 90.1% shareholding.
 
The company's ultimate parent undertaking is Eni S.p.A by virtue of its 100% shareholding of Versalis S.p.A.
The address of Eni S.p.A is Piazzale Enrico Mattei 1, 00144 Rome, Italy.
Eni S.p.A is regarded as both the controlling party and the ultimate controlling party.
 
The parent of the largest group in which the results are consolidated is Eni S.p.A.
Eni S.p.A is registered in Italy.
 
   
10. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.