Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-162023-05-162023-05-162023-05-162023-05-162023-05-1602022-12-16truefalsetruetruetruetruetruetruetrue00true 14545772 2022-12-15 14545772 2022-12-16 2023-12-31 14545772 2021-12-16 2022-12-15 14545772 2023-12-31 14545772 1 2022-12-16 2023-12-31 14545772 d:Director2 2022-12-16 2023-12-31 14545772 d:Director2 2023-12-31 14545772 d:Director3 2022-12-16 2023-12-31 14545772 d:Director3 2023-12-31 14545772 d:Director4 2022-12-16 2023-12-31 14545772 d:Director4 2023-12-31 14545772 d:Director5 2022-12-16 2023-12-31 14545772 d:Director5 2023-12-31 14545772 d:RegisteredOffice 2022-12-16 2023-12-31 14545772 c:CurrentFinancialInstruments 2023-12-31 14545772 c:Non-currentFinancialInstruments 2023-12-31 14545772 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 14545772 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 14545772 c:UKTax 2022-12-16 2023-12-31 14545772 c:ShareCapital 2022-12-16 2023-12-31 14545772 c:ShareCapital 2023-12-31 14545772 c:SharePremium 2022-12-16 2023-12-31 14545772 c:SharePremium 2023-12-31 14545772 c:RetainedEarningsAccumulatedLosses 2022-12-16 2023-12-31 14545772 c:RetainedEarningsAccumulatedLosses 2023-12-31 14545772 d:OrdinaryShareClass1 2022-12-16 2023-12-31 14545772 d:OrdinaryShareClass1 2023-12-31 14545772 d:FRS101 2022-12-16 2023-12-31 14545772 d:Audited 2022-12-16 2023-12-31 14545772 d:FullAccounts 2022-12-16 2023-12-31 14545772 d:PrivateLimitedCompanyLtd 2022-12-16 2023-12-31 14545772 c:Subsidiary1 2022-12-16 2023-12-31 14545772 c:Subsidiary1 1 2022-12-16 2023-12-31 14545772 6 2022-12-16 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure


















AI Charlie UK Bidco Limited
























Annual report and financial statements



For the 13 month period ended 31 December 2023



Registered number: 14545772

 
AI Charlie UK Bidco Limited
 


Company Information


Directors
J Bowen (appointed 16 May 2023)
N Gallagher (appointed 16 May 2023)




Registered number
14545772



Registered office
Airfield Industrial Estate
Pocklington

York

YO42 1NR




Independent auditor
Buzzacott LLP

130 Wood Street

London

EC2V 6DL





 
AI Charlie UK Bidco Limited
 


Contents



Page
Directors' report
 
1 - 2
Strategic report
 
3
Independent auditor's report
 
4 - 7
Statement of comprehensive income
 
8
Statement of financial position
 
9
Statement of changes in equity
 
10
Notes to the financial statements
 
11 - 17


 
AI Charlie UK Bidco Limited
 
 

Directors' report
For the 13 month period ended 31 December 2023

The directors present their annual report and the financial statements of AI Charlie UK Bidco Limited ('the company') for the 13 month period ended 31 December 2023.

Principal activity

The company is an intermediate holding company, incorporated on 16 December 2022.

Results and dividends

The loss for the 13 month period, after taxation, amounted to £793k.

The directors do not recommend a dividend.

Directors

The directors who served during the 13 month period were:

J Bowen (appointed 16 May 2023)
A Comptour (appointed 16 December 2022, resigned 16 May 2023)
L Harroch (appointed 14 March 2023, resigned 16 May 2023)
N Gallagher (appointed 16 May 2023)

Engagement with suppliers, customers and others

The directors consider, both individually and collectively, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172(1)(a-f) of the Companies Act 2006) in the decisions taken during the period ended 31 December 2023.
In discharging their duties in relation to s172(1) of the Companies Act 2006, the directors have paid regard to the following matters:
 
the likely consequences of any decision in the long-term, such as strategic planning and business development opportunities;
the interests of the group's employees including health and safety, employee involvement and initiatives, diversity, inclusion and gender pay gap issues;
the need to foster relationships with suppliers, customers and others;
the need to act fairly between members of the company;
the impact of the subsidiary company's operations on the community and the environment; and
the desirability of the company maintaining a reputation for high standards of business conduct including adoption of corporate governance standards, training of directors and whistleblowing reporting.
 
As the company is a wholly owned subsidiary of the IRCA group of companies, the company's directors discharge their duties within policies, procedures and authorisation limits set out on a group-wide basis. The directors of this company also achieve this through attendance at relevant executive meetings, involvement in executive briefings and training, and through having responsibility for implementation of group-wide initiatives to promote best practice.

Streamlined Carbon Energy Reporting ('SECR') exemption

The company, as a qualifying entity, has taken advantage of the exemption from including its SECR requirements in these
financial statements. The company has consumed less than 40MW and as such is a low energy user.

Page 1

 
AI Charlie UK Bidco Limited
 

Directors' report (continued)
For the 13 month period ended 31 December 2023

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. 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 of the profit or loss of the company 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;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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 transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the company since the year end.

This report was approved by the board and signed on its behalf.
 





N Gallagher
Director

Date: 4 October 2024

Page 2

 
AI Charlie UK Bidco Limited
 


Strategic report
For the 13 month period ended 31 December 2023

Introduction
 
The directors present their Strategic report for the period ended 31 December 2023.

Business review
 
The company is an intermediate holding company. In the period, the company acquired IRCA Manufacturing UK Limited (previously Kerry Sweet & Cereals Limited).

Principal risks and uncertainties
 
The principal activity of the company is to act as a holding company and therefore its principal risks relate to the carrying value of the investments that the company owns.
To manage the risk, the company periodically reviews the financial statements of those companies in which it holds investments.

Financial key performance indicators
 
Given the nature of the business, the directors are of the opinion that the use of key performance indicators for the understanding of the performance of this company is not necessary.


This report was approved by the board and signed on its behalf.



N Gallagher
Director

Date: 4 October 2024

Page 3

 
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Independent auditor's report to the members of AI Charlie UK Bidco Limited
 For the 13 month period ended 31 December 2023

Opinion


We have audited the financial statements of AI Charlie UK Bidco Limited (the 'company') for the 13 month period ended 31 December 2023, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its loss for the 13 month period 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 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 other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual reportOur 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. 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 course of 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.


Page 4

 
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Independent auditor's report to the members of AI Charlie UK Bidco Limited (continued)
For the 13 month period ended 31 December 2023

Opinion 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 Strategic report and the Directors' report for the 13 month period for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the 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 Directors' responsibilities statement set out on page 2, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
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Independent auditor's report to the members of AI Charlie UK Bidco Limited (continued)
For the 13 month period ended 31 December 2023

Auditor's 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 an Auditor's report 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

How the audit was considered capable of detecting irregularities due to fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
 
the Senior Statutory Auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations that could reasonably be expected to have a material effect on the financial statements of the company through discussions with directors and other management at the planning stage, and from our knowledge and experience of intermediate holding companies;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
 
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
 
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included:
 
agreeing financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged with governance; and
enquiring of management as to actual and potential litigation and claims.
Page 6

 
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Independent auditor's report to the members of AI Charlie UK Bidco Limited (continued)
For the 13 month period ended 31 December 2023

Auditor's responsibilities for the audit of the financial statements (continued)


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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 Auditor's report.


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 2006Our 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 an Auditor's report 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.





Philip Westerman (Senior statutory auditor)
for and on behalf of
Buzzacott LLP
Statutory Auditor
130 Wood Street
London
EC2V 6DL

7 October 2024
Page 7

 
AI Charlie UK Bidco Limited
 


Statement of comprehensive income
For the 13 month period ended 31 December 2023

13 month period ended
31 December
2023
Note
£000

  

Interest payable and similar expenses
 7 
(793)

(Loss) before tax
  
(793)

(Loss) for the financial period
  
(793)

Other comprehensive income:
  

Currency translation differences
  
133

Total comprehensive expense for the 13 month period
  
(660)

There were no recognised gains and losses for 2023 other than those included in the statement of comprehensive income.

The notes on pages 11 to 17 form part of these financial statements.

Page 8

 
AI Charlie UK Bidco Limited - Registered number:14545772


Statement of financial position
As at 31 December 2023

2023
Note
£000

  

Fixed assets
  

Investments
 9 
15,701

  
15,701

Current assets
  

Cash at bank and in hand
  
200

  
200

Creditors: amounts falling due within one year
 10 
(760)

Net current liabilities
  
 
 
(560)

Total assets less current liabilities
  
15,141

  

Creditors: amounts falling due after more than one year
 11 
(11,902)

Net assets
  
3,239


Capital and reserves
  

Called up share capital 
 12 
-

Share premium account
 13 
3,899

Profit and loss account
 13 
(660)

  
3,239


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N Gallagher
Director

Date: 4 October 2024

The notes on pages 11 to 17 form part of these financial statements.

Page 9

 
AI Charlie UK Bidco Limited
 


Statement of changes in equity
For the 13 month period ended 31 December 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£000
£000
£000
£000


Comprehensive updated for the 13 month period

Loss for the 13 month period
-
-
(793)
(793)

Currency translation differences
-
-
133
133


Contributions by and distributions to owners

Issue of share capital
-
3,899
-
3,899


At 31 December 2023
-
3,899
(660)
3,239

The notes on pages 11 to 17 form part of these financial statements.

Page 10

 
AI Charlie UK Bidco Limited
 
 

Notes to the financial statements
For the 13 month period ended 31 December 2023

1.


General information

AI Charlie UK Bidco Limited is a private company limited by shares and incorporated in England and Wales. The registered office is Airfield Industrial Estate, Pocklington, York, YO42 1NR. The registration number is 14545772.

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 Financial Reporting Standard 101 'Reduced Disclosure Framework'  and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

The financial statements have been prepared for the 13 month period started 16 December 2022 and ended 31 December 2023. 

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 101 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions under FRS 101:
the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations
the requirements of IFRS 7 Financial Instruments: Disclosures
the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
the requirements of IAS 7 Statement of Cash Flows
the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
the requirements of paragraph 74A(b) of IAS 16
the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.

This information is included in the consolidated financial statements of AI Tiramisu (Luxembourg) Midco 4 Sarl as at 31 December 2023 and these financial statements may be obtained from IRCA Group HQ, Viale Danimarca, 30, 21013 Gallarate VA, Italy.

 
2.3

Exemption from preparing consolidated financial statements

The company is itself a subsidiary company and is exempt from the requirement to prepare consolidated financial statements by virtue of section 401 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group.

Page 11

 
AI Charlie UK Bidco Limited
 

Notes to the financial statements
For the 13 month period ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Going concern

The company has net current liabilities at the reporting date and is currently dependent upon the financial support of a group company, AI Tiramisu (Luxembourg) Midco 4 Sarl ('Midco 4').
Creditors payable in less than one year consist solely of amounts payable to Midco 4. The directors have received confirmation from Midco 4 that it will continue to provide financial support to the company for a period of at least twelve months from the date of approval of these financial statements. The directors also have no reason to believe that this support will not be forthcoming.
Having regard for the foregoing, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements therefore do not include any adjustments that would result from the withdrawal of support from Midco 4.

 
2.5

Foreign currency translation

Functional and presentation currency

The company's functional currency is EUR. This differs from the presentational currency which is GBP.

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.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

  
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like loans from related parties and investments in ordinary shares.

Page 12

 
AI Charlie UK Bidco Limited
 
 

Notes to the financial statements
For the 13 month period ended 31 December 2023

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the preparation of the financial statements, estimates and assumptions have been made relating to the reporting of results and the financial condition of the company. The directors consider that the above accounting policies address the critical areas of the company, which themselves require judgement in selecting the appropriate accounting policies.
Impairment of investment
The directors assess the potential impairment of investments whenever events or changes in circumstances
indicate the carrying value may not be recoverable. Factors considered that could trigger an impairment review
include:
 
Significant underperformance relative to historical or projected future operating results;
Significant changes in the strategy of the business invested in; and
Significant industry or economic trends.
 
There is no impairment of the company's investment in the current period.


4.


Auditor's remuneration

During the 13 month period, the company obtained the following services from the company's auditor:


13 month period ended
31 December
2023
£000

Fees payable to the company's auditor for the audit of the company's financial statements
10,000

Fees payable to the company's auditor in respect of:

All non-audit services
4,000


5.


Employees

The company has no employees other than the directors, who did not receive any remuneration. 





6.


Directors' remuneration



The directors are remunerated through the company's subsidiary, IRCA Manufacturing UK Limited.

Page 13

 
AI Charlie UK Bidco Limited
 
 

Notes to the financial statements
For the 13 month period ended 31 December 2023

7.


Interest payable and similar expenses

13 month period ended
31 December
2023
£000


Interest payable on loans from group undertakings
793


8.


Taxation


13 month period ended
31 December
2023
£000

Current tax


Current tax on losses for the period
-


-


Total current tax
-

Deferred tax


Origination and reversal of timing differences
-

Total deferred tax
-


Tax on (loss)
-
Page 14

 
AI Charlie UK Bidco Limited
 
 

Notes to the financial statements
For the 13 month period ended 31 December 2023
 
8.Taxation (continued)


Factors affecting tax charge for the 13 month period

The tax assessed for the 13 month period is higher than the standard rate of corporation tax in the UK of 23.33%. The differences are explained below:

13 month period ended
31 December
2023
£000


(Loss) on ordinary activities before tax
(793)


(Loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 23.33%
(185)

Effects of:


Group relief
185

Total tax charge for the 13 month period
-


9.


Fixed asset investments





Investments in subsidiary companies

£000



Cost or valuation


Additions
15,701



At 31 December 2023
15,701





10.


Creditors: amounts falling due within one year

2023
£000

Amounts owed to group undertakings
760


Page 15

 
AI Charlie UK Bidco Limited
 
 

Notes to the financial statements
For the 13 month period ended 31 December 2023

11.


Creditors: amounts falling due after more than one year

2023
£000

Amounts owed to group undertakings
11,902



12.


Share capital

2023
£000
Allotted, called up and fully paid


3 Ordinary shares of 0.01 each
-

On incorporation the company issued 2 €0.01 ordinary shares for total cash consideration of €4,199,534.56 (£3,697,522).
On 13 April 2023 the company issued 1 €0.01 ordinary share for total cash consideration of €234,428.99 (£206,255).
Shares rank equally for voting purposes. On a show of hands each member shall have one vote and on a poll each member shall have one vote per share held. Each share ranks equally for any dividend declared. Each share ranks equally for any distribution made on a winding up.



13.


Reserves

Share premium account

Share premium represents amounts paid by members of the group for share capital above the nominal value of the shares acquired. 

Profit and loss account

Retained earnings includes the current years' losses. 


14.


Related party transactions

The company has taken advantage of the exemption in paragraph 17 and 18A of IAS 24 Related Party Disclosures and has not disclosed key management personnel compensation or transactions with wholly owed companies in the group.


15.


Post balance sheet events

There have been no events since the reporting date which would require disclosure in the financial statements.

Page 16

 
AI Charlie UK Bidco Limited
 
 

Notes to the financial statements
For the 13 month period ended 31 December 2023

16.


Controlling party

The immediate parent company is AI Tiramisu (Luxembourg) Midco 4 Sarl and the ultimate parent company is AI Tiramisu (Luxembourg) Midco 3 Sarl, both companies registered in Luxembourg. The registered office of AI Tiramisu (Luxembourg) Midco 3 Sarl is rue 124 boulevard de la Petrusse.
The smallest group of undertakings, of which the company is a member, for which consolidated financial statements are prepared is that headed by AI Tiramisu (Luxembourg) Midco 3 Sarl and these financial statements may be obtained from rue 124 boulevard de la Petrusse.
The directors do not believe that there is an ultimate controlling party.


17.



Subsidiary undertaking



Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Registered office

Class of shares

Holding

IRCA Manufacturing UK Limited
Airfield Industrial Estate Pocklington Airfield Industrial Estate, Pocklington, York, YO42 1NR
Ordinary
100%

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