2023-01-012023-12-312023-12-31false13752468Bio-Dynamics Tanks 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Bio-Dynamics Tanks Ltd

Registered Number
13752468
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Bio-Dynamics Tanks Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

T Van Damme
A Vandekerckhove
S Verfaillie

Registered Address

Bio-Dynamics Tanks Ltd
21a Newland
Lincoln
LN1 1XP

Place of Business

Nijverheidstraat 28

8710 Wielsbeke

Belgium


Registered Number

13752468 (England and Wales)
Bio-Dynamics Tanks Ltd
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets656,54194,037
56,54194,037
Current assets
Debtors8354,919135,087
Cash at bank and on hand506,749215,243
861,668350,330
Creditors amounts falling due within one year9(946,244)(607,186)
Net current assets (liabilities)(84,576)(256,856)
Total assets less current liabilities(28,035)(162,819)
Net assets(28,035)(162,819)
Capital and reserves
Called up share capital11
Profit and loss account(28,036)(162,820)
Shareholders' funds(28,035)(162,819)
The financial statements were approved and authorised for issue by the Board of Directors on 18 June 2024, and are signed on its behalf by:
T Van Damme
Director
Registered Company No. 13752468
Bio-Dynamics Tanks Ltd
Notes to the Financial Statements
for the year ended 31 December 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is construction of concrete silos and metal tanks.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment33
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The parent company has indicated that it will continue to support the company for the foreseeable future therefore the financial statements have been prepared on a going concern basis.
5.Employee information

20232022
Average number of employees during the year116
6.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 January 2326,07083,7682,602112,440
Disposals(22,312)--(22,312)
At 31 December 233,75883,7682,60290,128
Depreciation and impairment
At 01 January 233,72514,05862018,403
Charge for year75216,75486718,373
On disposals(3,189)--(3,189)
At 31 December 231,28830,8121,48733,587
Net book value
At 31 December 232,47052,9561,11556,541
At 31 December 2222,34569,7101,98294,037
7.Description of nature of transactions and balances with related parties
Summary of transactions with parent - Bio-Dynamics NV A loan account exists, at the balance sheet date the amount owed by Bio-Dynamics NV was £239,506 (2022 - £507,632 creditor). There was also an amount of £390,556 due to Bio-Dynamics NV, the parent company for accrued subcontractor fees. Parent and ultimate parent undertaking The company's immediate parent is Bio-Dynamics NV, incorporated in Belgium whose address is 28 Nijverheidstraat, 8710 Wielsbeke, Belgium.
8.Debtors

2023

2022

££
Trade debtors / trade receivables50369,008
Amounts owed by group undertakings239,506-
Other debtors106,21657,259
Prepayments and accrued income8,6948,820
Total354,919135,087
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables62,14324,689
Amounts owed to related parties-507,632
Other creditors263558
Accrued liabilities and deferred income883,83874,307
Total946,244607,186
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.