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REGISTERED NUMBER: 03533573 (England and Wales)














Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

for the Year Ended 29 September 2023

for

B D I Group Ltd

B D I Group Ltd (Registered number: 03533573)

Contents of the Consolidated Financial Statements
for the Year Ended 29 September 2023










Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 17


B D I Group Ltd

Company Information
for the Year Ended 29 September 2023







DIRECTOR: J A Elder





SECRETARY: Dr C N P Elder





REGISTERED OFFICE: Suite G, Frist Floor
Deanway Tech 2
Wilmslow Road
Handforth
Wilmslow
SK9 3FB





REGISTERED NUMBER: 03533573 (England and Wales)





AUDITORS: SB&P
Chartered Accountants & Statutory Auditors
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

B D I Group Ltd (Registered number: 03533573)

Group Strategic Report
for the Year Ended 29 September 2023


The director presents his strategic report of the company and the group for the year ended 29 September 2023.

REVIEW OF BUSINESS - DIVERSIFIED AND PROFITABLE
The Group continues to have interests in importing, utilities, financial services, and property, and is currently considering new opportunities and diversifying into other sectors.

All businesses have performed well, and we are confident that this will continue into the future.

The one exception is the Capital Life Group, which has undergone a number of changes during the year as a result of Capital Life Funeral Planning not getting authorised by the FCA. We withdrew our application as a result, we believe, of getting poor advice from a reputable and experienced legal firm that specialises in FCA matters. We have since taken advice from leading Counsel on this matter, who also concurs with our understanding and as such is very confident we have a substantial and valid claim in this regard.

Our financial advisors are now being instructed to determine the value of the business (including other group activities) at the time at which we withdrew our application to the FCA, in order to allow us to look to recover all our consequential losses and damages as a direct result of the negligent advice we believe we received from the above legal advisors, which we expect to be considerable.

PRINCIPAL RISKS AND UNCERTAINTIES
All operations are currently coping well post-pandemic, although we monitor the success of new business streams closely and will also be managing the deferred consideration position regarding our financial services businesses.

The directors continually monitor risk, and manage the businesses in a risk-averse manner.

CORPORATE SOCIAL RESPONSIBILITY AND SECTION 172(1) STATEMENT
The group is aware of worldwide environment issues and contributes where it can to industry initiatives in all its trading activities, and in making environmentally-friendly choices

The group is an equal-opportunities employer and ensures that its recruitment and training processes and office environment are as free from equality issues as possible. It uses external expertise to help in this endeavour where necessary.

The directors continue to act in accordance with Section 172 of the Companies Act 2006, acting in good faith the promote the interests of the group, its members, its employees, the community, the environment, and other interested third parties where relevant, aiming to maintain high standards of governance and behaviour.

FINANCIAL SUMMARY AND KPI’S
Group turnover decreased by £4.7m to £24.8m due to the discontinued trade in the Capital Life Group sector

Post tax profits grew by £0.2m to £2.2m, as the group reduced its workforce following the discontinued trade . A small dividend of £39k was declared (PY = £39k).

Shareholders' funds therefore grew by £1.7m to £15.3m (prior year growth £1.7m).

The cash and funding ability of the business remains strong.

ON BEHALF OF THE BOARD:





J A Elder - Director


28 November 2024

B D I Group Ltd (Registered number: 03533573)

Report of the Director
for the Year Ended 29 September 2023


The director presents his report with the financial statements of the company and the group for the year ended 29 September 2023.

DIVIDENDS
No interim dividend was paid during the year. The director recommends a final dividend of 390.39 per share.

The total distribution of dividends for the year ended 29 September 2023 will be £ 39,039 .

DIRECTORS
J A Elder has held office during the whole of the period from 30 September 2022 to the date of this report.

Other changes in directors holding office are as follows:

C J M Darlaston ceased to be a director after 29 September 2023 but prior to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





J A Elder - Director


28 November 2024

Report of the Independent Auditors to the Members of
B D I Group Ltd


Opinion
We have audited the financial statements of B D I Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 29 September 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 29 September 2023 and of the group's profit for the year 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our 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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
B D I Group Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).
In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the sector in which it operates. We determined that the following laws and regulations were most significant: the Companies Act 2006, UK employment laws and UK tax laws, together with the laws and regulations relevant to the individual subsidiary companies;
- We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management, reviewing any board meeting minutes, and reviewing the legal costs incurred in the year and enquiring with management as to the circumstances around these legal costs.
- We assessed the susceptibility of the Company's financial statements to materiality misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included:
- identifying the controls that management has in place to prevent and detect fraud;-challenging assumptions and judgements made by management in its significant accounting estimates;
- auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business;
- assessing the extent of compliance with the relevant laws and regulations.

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 Report of the Auditors.

Report of the Independent Auditors to the Members of
B D I Group Ltd


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 2006. Our 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 a Report of the Auditors 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.




Suzanne Draper FCCA ACA (Senior Statutory Auditor)
for and on behalf of SB&P
Chartered Accountants & Statutory Auditors
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

28 November 2024

B D I Group Ltd (Registered number: 03533573)

Consolidated Income Statement
for the Year Ended 29 September 2023

29.9.23 29.9.23 29.9.23
Continuing Discontinued Total
Notes £    £    £   

TURNOVER 3 23,141,546 1,650,778 24,792,324
Cost of sales (17,762,672 ) (115,498 ) (17,878,170 )
GROSS PROFIT 5,378,874 1,535,280 6,914,154

Administrative expenses (3,904,316 ) (572,985 ) (4,477,301 )
1,474,558 962,295 2,436,853

Other operating income 236,124 - 236,124


OPERATING PROFIT 5 1,710,682 962,295 2,672,977

Income from interest in associated
undertakings

9,115

-

9,115
Interest receivable and similar income 143,375 - 143,375
Interest payable and similar expenses 7 (60,481 ) - (60,481 )
PROFIT BEFORE TAXATION 1,802,691 962,295 2,764,986
Tax on profit 8 (407,979 ) (207,378 ) (615,357 )
PROFIT FOR THE FINANCIAL YEAR 1,394,712 754,917 2,149,629
Profit attributable to:
Owners of the parent 1,919,872
Non-controlling interests 229,757
2,149,629

B D I Group Ltd (Registered number: 03533573)

Consolidated Income Statement
for the Year Ended 29 September 2023

29.9.22 29.9.22 29.9.22
Continuing Discontinued Total
Notes £    £    £   

TURNOVER 3 22,746,772 6,737,748 29,484,520
Cost of sales (16,831,761 ) (2,720,243 ) (19,552,004 )
GROSS PROFIT 5,915,011 4,017,505 9,932,516

Administrative expenses (4,593,083 ) (2,944,618 ) (7,537,701 )
1,321,928 1,072,887 2,394,815

Other operating income 146,055 - 146,055


OPERATING PROFIT 5 1,467,983 1,072,887 2,540,870

Income from interest in associated
undertakings

70,939

-

70,939
Interest receivable and similar income 24,197 - 24,197
Interest payable and similar expenses 7 (28,166 ) - (28,166 )
PROFIT BEFORE TAXATION 1,534,953 1,072,887 2,607,840
Tax on profit 8 (450,008 ) (188,491 ) (638,499 )
PROFIT FOR THE FINANCIAL YEAR 1,084,945 884,396 1,969,341
Profit attributable to:
Owners of the parent 1,460,255
Non-controlling interests 509,086
1,969,341

B D I Group Ltd (Registered number: 03533573)

Consolidated Other Comprehensive Income
for the Year Ended 29 September 2023

29.9.23 29.9.22
Notes £    £   

PROFIT FOR THE YEAR 2,149,629 1,969,341


OTHER COMPREHENSIVE INCOME
Foreign exchange translation (2,328 ) 16,602
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

(2,328

)

16,602
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

2,147,301

1,985,943

Total comprehensive income attributable to:
Owners of the parent 1,917,544 1,476,857
Non-controlling interests 229,757 509,086
2,147,301 1,985,943

B D I Group Ltd (Registered number: 03533573)

Consolidated Balance Sheet
29 September 2023

29.9.23 29.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 939,502 3,022,655
Investments 13
Interest in associate 162,289 153,172
Investment property 14 5,768,162 4,042,732
6,869,953 7,218,559

CURRENT ASSETS
Stocks 15 9,514,180 9,804,899
Debtors 16 5,123,728 34,581,218
Investments 17 - 3,882
Cash at bank and in hand 6,333,017 4,613,643
20,970,925 49,003,642
CREDITORS
Amounts falling due within one year 18 10,936,649 40,665,454
NET CURRENT ASSETS 10,034,276 8,338,188
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,904,229

15,556,747

CREDITORS
Amounts falling due after more than one
year

19

(97,082

)

(487,820

)

PROVISIONS FOR LIABILITIES 22 (48,823 ) (44,677 )
NET ASSETS 16,758,324 15,024,250

CAPITAL AND RESERVES
Called up share capital 23 100 100
Present value reserve 24 (95,433 ) 316,303
Retained earnings 24 15,408,385 13,274,803
SHAREHOLDERS' FUNDS 15,313,052 13,591,206

NON-CONTROLLING INTERESTS 1,445,272 1,433,044
TOTAL EQUITY 16,758,324 15,024,250

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





J A Elder - Director


B D I Group Ltd (Registered number: 03533573)

Company Balance Sheet
29 September 2023

29.9.23 29.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 626,118 2,752,782
Investments 13 536 534
Investment property 14 1,725,430 -
2,352,084 2,753,316

CURRENT ASSETS
Debtors 16 5,671,117 4,794,783
Cash at bank 5,542,143 3,526,897
11,213,260 8,321,680
CREDITORS
Amounts falling due within one year 18 3,481,474 2,075,411
NET CURRENT ASSETS 7,731,786 6,246,269
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,083,870

8,999,585

PROVISIONS FOR LIABILITIES 22 13,021 14,994
NET ASSETS 10,070,849 8,984,591

CAPITAL AND RESERVES
Called up share capital 23 100 100
Retained earnings 24 10,070,749 8,984,491
SHAREHOLDERS' FUNDS 10,070,849 8,984,591

Company's profit for the financial year 1,125,297 417,500

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





J A Elder - Director


B D I Group Ltd (Registered number: 03533573)

Consolidated Statement of Changes in Equity
for the Year Ended 29 September 2023

Called up Present
share Retained value
capital earnings reserve
£    £    £   
Balance at 30 September 2021 100 11,836,985 -

Changes in equity
Dividends - (39,039 ) -
Total comprehensive income - 1,476,857 -
Present value reserve - - 316,303
Balance at 29 September 2022 100 13,274,803 316,303

Changes in equity
Dividends - (39,039 ) -
Total comprehensive income - 2,172,621 (255,077 )
Present value reserve - - (156,659 )
Balance at 29 September 2023 100 15,408,385 (95,433 )
Non-controlling Total
Total interests equity
£    £    £   
Balance at 30 September 2021 11,837,085 1,078,220 12,915,305

Changes in equity
Dividends (39,039 ) (154,262 ) (193,301 )
Total comprehensive income 1,476,857 509,086 1,985,943
Present value reserve 316,303 - 316,303
Balance at 29 September 2022 13,591,206 1,433,044 15,024,250

Changes in equity
Dividends (39,039 ) (241,759 ) (280,798 )
Total comprehensive income 1,917,544 229,757 2,147,301
Present value reserve (156,659 ) - (156,659 )
Balance at 29 September 2023 15,313,052 1,421,042 16,734,094

B D I Group Ltd (Registered number: 03533573)

Company Statement of Changes in Equity
for the Year Ended 29 September 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 30 September 2021 100 8,606,030 8,606,130

Changes in equity
Dividends - (39,039 ) (39,039 )
Total comprehensive income - 417,500 417,500
Balance at 29 September 2022 100 8,984,491 8,984,591

Changes in equity
Dividends - (39,039 ) (39,039 )
Total comprehensive income - 1,125,297 1,125,297
Balance at 29 September 2023 100 10,070,749 10,070,849

B D I Group Ltd (Registered number: 03533573)

Consolidated Cash Flow Statement
for the Year Ended 29 September 2023

29.9.23 29.9.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,644,795 1,637,513
Interest paid (53,714 ) (20,911 )
Interest element of hire purchase payments
paid

(6,767

)

(7,255

)
Tax paid (1,192,345 ) (475,741 )
Net cash from operating activities 391,969 1,133,606

Cash flows from investing activities
Purchase of tangible fixed assets (73,598 ) (359,887 )
Purchase of investment property (171,326 ) (4,042,732 )
Sale of tangible fixed assets 1,272,608 -
Sale of current asset investments 3,882 239,489
Disposal of subsidiary 300,000 -
Interest received 143,375 24,197
Dividends received (21,570 ) (16,258 )
Net cash from investing activities 1,453,371 (4,155,191 )

Cash flows from financing activities
Loan repayments in year (10,000 ) (10,000 )
Capital repayments in year (55,177 ) (22,437 )
Amount introduced by directors 4,195,098 4,667,447
Amount withdrawn by directors (3,906,694 ) (4,979,885 )
Dividends paid to minority interests (241,759 ) (154,262 )
Net cash from financing activities (18,532 ) (499,137 )

Increase/(decrease) in cash and cash equivalents 1,826,808 (3,520,722 )
Cash and cash equivalents at beginning
of year

2

4,506,209

8,026,931

Cash and cash equivalents at end of year 2 6,333,017 4,506,209

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 29 September 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

29.9.23 29.9.22
£    £   
Profit before taxation 2,764,986 2,607,840
Depreciation charges 124,155 485,575
(Profit)/loss on disposal of fixed assets (768,151 ) 22,746
Gain on revaluation of fixed assets (5 ) (15,423 )
Foreign exchange translation 852 25,407
Finance costs 60,481 28,166
Finance income (152,490 ) (95,136 )
2,029,828 3,059,175
Decrease/(increase) in stocks 290,719 (2,744,895 )
Decrease/(increase) in trade and other debtors 29,248,517 (10,371,377 )
(Decrease)/increase in trade and other creditors (29,924,269 ) 11,694,610
Cash generated from operations 1,644,795 1,637,513

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 29 September 2023
29.9.23 30.9.22
£    £   
Cash and cash equivalents 6,333,017 4,613,643
Bank overdrafts - (107,434 )
6,333,017 4,506,209
Year ended 29 September 2022
29.9.22 30.9.21
£    £   
Cash and cash equivalents 4,613,643 8,026,931
Bank overdrafts (107,434 ) -
4,506,209 8,026,931


B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 29 September 2023


3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 30.9.22 Cash flow changes At 29.9.23
£    £    £    £   
Net cash
Cash at bank
and in hand 4,613,643 1,719,374 6,333,017
Bank overdrafts (107,434 ) 107,434 -
4,506,209 1,826,808 6,333,017

Liquid resources
Current asset
investments 3,882 (3,882 ) - -
3,882 (3,882 ) - -
Debt
Finance leases (93,870 ) 55,177 - (118,301 )
Debts falling due
within 1 year (10,000 ) - - (10,000 )
Debts falling due
after 1 year (27,500 ) 10,000 - (17,500 )
(131,370 ) 65,177 - (145,801 )
Total 4,378,721 1,888,103 - 6,187,216

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements
for the Year Ended 29 September 2023


1. STATUTORY INFORMATION

B D I Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The group financial statements incorporate the financial statements of B D I Group Limited ('the Company') and entities controlled by the Company )its 'subsidiaries') made up to 29 September each year. Control is achieved where the Company has the power to govern the financial and operational policies of an investee entity so as to obtain benefits from its activities. Subsidiaries are fully consolidated from the date on which control was transferred to the group. They are de-consolidated from the date that control ceases.

The acquisition of subsidiaries is accounted for using the acquisition method. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition related costs are expenses as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair value at the acquisition date. The excess of the consideration transferred and the acquisition date fair value of any previous equity interest in the acquire over the fair value of the Group's share of the identifiable assets acquired is recorded as goodwill.

Intercompany transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectation sof future events that are believed to be reasonable under the circumstances. The group makes estimates and assumptions concerning the future.

The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

When an asset is purchased it is categorised into an asset class, the depreciation policy of each class estimates the economic life of all assets with the class. The depreciation policy of each asset class is determined by management and reviewed regularly for appropriateness. The depreciation policy adopted is based on historic experience as well as considering the future events which may impact the useful economic life of all assets within each class, such as changes in market demand.

In addition, FRS 102 requires an entity to assess at each reporting date whether there is any indication that assets within a class may be impaired i.e. the recoverable amount of the asset is less than the carrying amount. If any such indication exists, management are required to estimate the recovered amount of the individual assets concerned.

Management judgement is applied to determine if revenue and costs should be recognised in the current period.

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 33% on cost and 25% on cost
Fixtures and fittings - 33% on cost and 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Current asset investments
Current asset investments are investments held in portfolios which can be quickly converted into cash at short notice without incurring a financial penalty.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

29.9.23 29.9.22
£    £   
Stainless steel tube piping 22,939,081 21,898,466
Funeral and probate services 1,650,778 6,737,748
Property development 20,000 5,116
Utilities markets 182,465 843,190
24,792,324 29,484,520

An analysis of turnover by geographical market is given below:

29.9.23 29.9.22
£    £   
United Kingdom 8,707,895 13,891,471
Europe 15,637,676 15,493,912
Rest of the World 446,753 99,137
24,792,324 29,484,520

4. EMPLOYEES AND DIRECTORS
29.9.23 29.9.22
£    £   
Wages and salaries 2,115,059 3,097,320
Social security costs 355,255 331,831
Other pension costs 196,715 372,586
2,667,029 3,801,737

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
29.9.23 29.9.22

Director 1 1
Office 32 65
Warehouse 29 25
62 91

29.9.23 29.9.22
£    £   
Directors' remuneration 55,088 86,436
Directors' pension contributions to money purchase schemes 30,750 89,206

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

29.9.23 29.9.22
£    £   
Other operating leases 242,565 211,500
Depreciation - owned assets 93,237 112,223
Depreciation - assets on hire purchase contracts 30,918 6,337
(Profit)/loss on disposal of fixed assets (768,151 ) 22,746
Auditors' remuneration 73,559 65,750
Foreign exchange differences 379 340,384

6. EXCEPTIONAL ITEMS
29.9.23 29.9.22
£    £   
Exceptional items (92,225 ) -

Exceptional items relates to payments made to an unknown recipient as part of a fraudulent scheme which were thought to have been payments made to a known supplier at the time.

7. INTEREST PAYABLE AND SIMILAR EXPENSES
29.9.23 29.9.22
£    £   
Bank interest 1,547 228
Bank loan interest 824 617
Interest on corporation tax 8,550 1,748
PAYE Interest 3,298 85
Interest on VAT 297 -
Interest payable 39,198 18,233
Hire purchase 6,767 7,255
60,481 28,166

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
29.9.23 29.9.22
£    £   
Current tax:
UK corporation tax 637,214 638,585
Under/(over)provision of corporation tax (26,002 ) (24,665 )
Total current tax 611,212 613,920

Deferred tax 4,145 24,579
Tax on profit 615,357 638,499

UK corporation tax has been charged at 22 % (2022 - 19 %).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

29.9.23 29.9.22
£    £   
Profit before tax 2,764,986 2,607,840
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2022 - 19 %)

691,247

495,490

Effects of:
Expenses not deductible for tax purposes 89,667 146,997
Income not taxable for tax purposes (7,259 ) (16,566 )
Capital allowances in excess of depreciation (8,896 ) -
Depreciation in excess of capital allowances - 56,933
Utilisation of tax losses - (14,850 )
Adjustments to tax charge in respect of previous periods (29,950 ) (24,665 )
Group relief - 3,224
Adjustment due to foreign tax (19,064 ) (10,834 )
Revaluation (11,540 ) 2,770
Change in rate of corporation tax (88,848 ) -
Total tax charge 615,357 638,499

Tax effects relating to effects of other comprehensive income

29.9.23
Gross Tax Net
£    £    £   
Foreign exchange translation (2,328 ) - (2,328 )

29.9.22
Gross Tax Net
£    £    £   
Foreign exchange translation 16,602 - 16,602

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
29.9.23 29.9.22
£    £   
Ordinary shares of £1 each
Final 39,039 39,039

11. INTANGIBLE FIXED ASSETS

Group
Computer
software
£   
COST
At 30 September 2022 9,600
Disposals (9,600 )
At 29 September 2023 -
AMORTISATION
At 30 September 2022 9,600
Eliminated on disposal (9,600 )
At 29 September 2023 -
NET BOOK VALUE
At 29 September 2023 -
At 29 September 2022 -

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


12. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 30 September 2022 2,776,863 94,388 248,330
Additions - - 70,032
Disposals (579,597 ) - (31,978 )
Exchange differences - - (1,946 )
Reclassification/transfer (1,617,668 ) - -
At 29 September 2023 579,598 94,388 284,438
DEPRECIATION
At 30 September 2022 149,520 1,062 133,248
Charge for year 27,103 1,888 21,637
Eliminated on disposal (56,529 ) - (245 )
Exchange differences - - (172 )
Reclassification/transfer (63,565 ) - -
At 29 September 2023 56,529 2,950 154,468
NET BOOK VALUE
At 29 September 2023 523,069 91,438 129,970
At 29 September 2022 2,627,343 93,326 115,082

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 30 September 2022 65,869 196,434 60,737 3,442,621
Additions 20,650 62,524 - 153,206
Disposals (3,416 ) (10,018 ) (5,992 ) (631,001 )
Exchange differences (229 ) 338 - (1,837 )
Reclassification/transfer - - - (1,617,668 )
At 29 September 2023 82,874 249,278 54,745 1,345,321
DEPRECIATION
At 30 September 2022 26,742 77,027 32,367 419,966
Charge for year 11,462 43,817 18,248 124,155
Eliminated on disposal (3,416 ) (9,898 ) (5,992 ) (76,080 )
Exchange differences 1,860 (345 ) - 1,343
Reclassification/transfer - - - (63,565 )
At 29 September 2023 36,648 110,601 44,623 405,819
NET BOOK VALUE
At 29 September 2023 46,226 138,677 10,122 939,502
At 29 September 2022 39,127 119,407 28,370 3,022,655

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


12. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 30 September 2022 17,970 102,594 120,564
Additions 24,910 54,698 79,608
Exchange differences - (690 ) (690 )
Transfer to ownership - (10,018 ) (10,018 )
At 29 September 2023 42,880 146,584 189,464
DEPRECIATION
At 30 September 2022 9,384 20,892 30,276
Charge for year 2,127 28,791 30,918
Exchange differences - (132 ) (132 )
Transfer to ownership - (9,898 ) (9,898 )
At 29 September 2023 11,511 39,653 51,164
NET BOOK VALUE
At 29 September 2023 31,369 106,931 138,300
At 29 September 2022 8,586 81,702 90,288

Company
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 30 September 2022 2,776,863 94,388 6,763 54,746 2,932,760
Disposals (579,597 ) - - - (579,597 )
Reclassification/transfer (1,617,668 ) - - - (1,617,668 )
At 29 September 2023 579,598 94,388 6,763 54,746 735,495
DEPRECIATION
At 30 September 2022 149,520 1,062 3,020 26,376 179,978
Charge for year 27,103 1,888 2,254 18,248 49,493
Eliminated on disposal (56,529 ) - - - (56,529 )
Reclassification/transfer (63,565 ) - - - (63,565 )
At 29 September 2023 56,529 2,950 5,274 44,624 109,377
NET BOOK VALUE
At 29 September 2023 523,069 91,438 1,489 10,122 626,118
At 29 September 2022 2,627,343 93,326 3,743 28,370 2,752,782

Included in cost of land and buildings is freehold land of £ 202,500 (2022 - £ 405,000 ) which is not depreciated.

The company has opted to apply the Triennial review 2017 amendments and elected to measure an investment property rented to another group entity as freehold property and measure the property at cost (less depreciation and impairment) under FRS 102 Section 17 Property, Plant and Equipment.

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


13. FIXED ASSET INVESTMENTS

Group
Interest
in
associate
£   
COST
At 30 September 2022 153,172
Additions 2
Share of profit/(loss) 9,115
At 29 September 2023 162,289
NET BOOK VALUE
At 29 September 2023 162,289
At 29 September 2022 153,172
Company
Unlisted
investments
£   
COST
At 30 September 2022 534
Additions 2
At 29 September 2023 536
NET BOOK VALUE
At 29 September 2023 536
At 29 September 2022 534

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Combined Utilities Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Utilities
%
Class of shares: holding
Ordinary 75.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 205,480 25,767
Profit for the year 287,143 545,670

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


13. FIXED ASSET INVESTMENTS - continued

iSee Properties Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Property development
%
Class of shares: holding
Ordinary 76.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 1,363,712 1,379,042
Loss for the year (15,430 ) (3,341 )

Energy Advisory Centre Ltd
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 1 1

John Elder Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Non trading
%
Class of shares: holding
Ordinary 75.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 25 25

Special Products in Industry Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 100 100

SPI Group Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Non trading
%
Class of shares: holding
Ordinary 75.76
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 991 991

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


13. FIXED ASSET INVESTMENTS - continued

Preminox Holdings Limited
Registered office: c/o Philip Barnes & Co Limited, The Old Council Chambers, Halford Street, Tamworth, Staffordshire, England. B79 7RB
Nature of business: Holding company
%
Class of shares: holding
Ordinary 94.34
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 75,848 75,848
Profit for the year - 75,748

SPC Planning 1 Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 99.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 1 1

SPC Planning 2 Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 99.01
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 1 1

The Funeral Directors Alliance Ltd
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 1 1

Capital Life Group Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 134,692 1
Profit for the year 955,124 825,000

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


13. FIXED ASSET INVESTMENTS - continued

SPI Tubesales Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 1 1

Steelit Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 1.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 1 1

Capital Life Independent Trustee Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 1 1

SPI UK Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 75.76
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 100 100

SPI Automotive Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 75.76
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 100 100

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


13. FIXED ASSET INVESTMENTS - continued

SPI Europe Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 75.76
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 100 100

SPI International Limited
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 75.76
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 100 100

Preminox Group Limited
Registered office: c/o Philip Barnes & Co Limited, The Old Council Chambers, Halford Street, Tamworth, Staffordshire, B79 7RB
Nature of business: Holding company
%
Class of shares: holding
Ordinary 71.47
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 2,953,552 1,913,221
Profit for the year 1,174,660 520,920

Preminox Limited
Registered office: c/o Philip Barnes & Co Limited,Old Council Chambers, Halford Street, Tamworth, Staffordshire, B79 7RB
Nature of business: Wholesale of stainless steel tub piping
%
Class of shares: holding
Ordinary 71.47
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 987,685 1,453,196
Profit for the year 484,489 1,074,233

Preminox Spain S.L.
Registered office: Centrovia, C/Los Angeles 42, 50196, La Muela, Zaragoza, Spain
Nature of business: Wholesale of stainless steel pipes
%
Class of shares: holding
Ordinary 71.47
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 104,103 9,656
Profit for the year 97,340 21,886

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


13. FIXED ASSET INVESTMENTS - continued

Preminox s.r.o.
Registered office: Zlatovska cesta, 2415/33C,911 38, Trencin, Slovakia
Nature of business: Wholesale of stainless steel tube pipes
%
Class of shares: holding
Ordinary 71.47
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 257,605 306,574
(Loss)/profit for the year (55,650 ) 120,046

Preminox Polska Sp. Zo.o
Registered office: ul. Pilsudskiego 130,32-540, Trzebinia, Poland
Nature of business: Wholesale of stainless steel tubes
%
Class of shares: holding
Ordinary 71.47
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 36,110 72,775
(Loss)/profit for the year (41,723 ) 9,248

Preminox s.r.l.
Registered office: Rue Bon Espoir 17, 4041, Milmort, Belgium
Nature of business: Wholesale of stainless steel tubes
%
Class of shares: holding
Ordinary 71.47
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 28,178 167,737
Profit for the year 82,695 86,030

HKMT Limited
Registered office: Rooms 904-905 9/F Belgian Bank Building, 721-725 Nathan Road, Mongkok, Hong Kong
Nature of business: Dormant
%
Class of shares: holding
Ordinary 71.47
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 1,287 1,287

Capital Life Funeral Planning Ltd
Registered office: Suite G, First Floor, Deanway Tech 2, Wilmslow Road, Handforth, Wilmslow, SK9 3FB
Nature of business: Non Trading
%
Class of shares: holding
Ordinary 100.00
29.9.23 29.9.22
£    £   
Aggregate capital and reserves 274,631 103,661
Profit for the year 895,970 880,163


B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


14. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 30 September 2022 4,042,732
Additions 171,326
Reclassification/transfer 1,554,104
At 29 September 2023 5,768,162
NET BOOK VALUE
At 29 September 2023 5,768,162
At 29 September 2022 4,042,732

Company
Total
£   
FAIR VALUE
Additions 171,326
Reclassification/transfer 1,554,104
At 29 September 2023 1,725,430
NET BOOK VALUE
At 29 September 2023 1,725,430

15. STOCKS

Group
29.9.23 29.9.22
£    £   
Stocks 9,514,180 9,804,899

16. DEBTORS

Group Company
29.9.23 29.9.22 29.9.23 29.9.22
£    £    £    £   
Amounts falling due within one year:
Trade debtors 3,815,006 32,508,768 5,827 -
Amounts owed by group undertakings - - 5,593,810 4,789,813
Other debtors 214,622 87,419 36,304 4,970
Derivatives 1,546 10,318 - -
Tax 733,509 627,659 - -
VAT - 95,343 - -
Accrued income 1,502 29,213 35,176 -
Prepayments 207,134 578,481 - -
4,973,319 33,937,201 5,671,117 4,794,783

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


16. DEBTORS - continued

Group Company
29.9.23 29.9.22 29.9.23 29.9.22
£    £    £    £   
Amounts falling due after more than one year:
Trade debtors - 437,018 - -
Other debtors 150,409 - - -
Prepayments - 206,999 - -
150,409 644,017 - -

Aggregate amounts 5,123,728 34,581,218 5,671,117 4,794,783

17. CURRENT ASSET INVESTMENTS

Group
29.9.23 29.9.22
£    £   
Listed investments - 3,882

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.9.23 29.9.22 29.9.23 29.9.22
£    £    £    £   
Bank loans and overdrafts (see note 20) 10,000 117,434 - -
Hire purchase contracts (see note 21) 38,719 24,662 - -
Payments on account 65,704 64,390 - -
Trade creditors 3,777,684 5,588,521 27,205 112
Amounts owed to group undertakings - - 2,325,875 1,425,342
Tax 688,848 1,164,131 128,126 233,524
Social security and other taxes 86,806 110,367 - 3,279
Pension - 4,053 - -
VAT 669,014 - 553,351 100,463
Other creditors 4,973,829 33,115,430 42,988 57,236
Net wages 5,294 7,184 - -
Directors' current accounts 360,520 54,647 360,520 54,647
Deferred income 7,714 - 7,714 186,480
Accrued expenses 252,517 414,635 35,695 14,328
10,936,649 40,665,454 3,481,474 2,075,411

19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
29.9.23 29.9.22
£    £   
Bank loans (see note 20) 17,500 27,500
Hire purchase contracts (see note 21) 79,582 69,208
Deferred income - 184,113
Accrued expenses - 206,999
97,082 487,820

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


20. LOANS

An analysis of the maturity of loans is given below:

Group
29.9.23 29.9.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 107,434
Bank loans 10,000 10,000
10,000 117,434
Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 7,500 17,500

21. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
29.9.23 29.9.22
£    £   
Net obligations repayable:
Within one year 38,719 24,662
Between one and five years 79,582 69,208
118,301 93,870

22. PROVISIONS FOR LIABILITIES

Group Company
29.9.23 29.9.22 29.9.23 29.9.22
£    £    £    £   
Deferred tax 48,823 44,677 13,021 14,994

Group
Deferred
tax
£   
Balance at 30 September 2022 44,677
Charge to Income Statement during year 4,146
Foreign exchange difference
Balance at 29 September 2023 48,823

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


22. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax
£   
Balance at 30 September 2022 14,994
Credit to Income Statement during year (1,973 )
Balance at 29 September 2023 13,021

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.9.23 29.9.22
value: £    £   
100 Ordinary £1 100 100

24. RESERVES

Group
Present
Retained value
earnings reserve Totals
£    £    £   

At 30 September 2022 13,274,803 316,303 13,591,106
Profit for the year 1,919,872 1,919,872
Dividends (39,039 ) (39,039 )
Foreign exchange translation (2,328 ) - (2,328 )
Transfer 255,077 (255,077 ) -
Present value reserve - (156,659 ) (156,659 )
At 29 September 2023 15,408,385 (95,433 ) 15,312,952

Company
Retained
earnings
£   

At 30 September 2022 8,984,491
Profit for the year 1,125,297
Dividends (39,039 )
At 29 September 2023 10,070,749


B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


25. CONTINGENT ASSETS/LIABILITIES

Contingent Liabilities

Anti-Dumping Duties

During a prior reporting period the European Fraud Office concluded an investigation regarding the suspected evasion of anti-dumping duties imposed on seamless pipes and tubes of stainless steel originating in the People's Republic of China.

As a result of this, the group has been charged additional duty costs of £307,225 relating to purchases made from the investigated suppliers.

The group is currently disputing this liability and has been successful on some of their appeals. No provision has been made in these financial statements as the group's management do not consider that there is any probable loss.

It has been highlighted to the group that if the duties were ruled to be payable, interest would be chargeable.

Customer Claims

A customer has made a claim to recover costs in resolving a dispute. This includes testing & validation costs, customer management and logistical costs. This claim is currently in dispute and no agreement has been reached as to who is responsible for covering these costs. The total value of the costs is €333,663 which equates to approximately £289,000 as at the reporting date.

If the claim is deemed payable, there is an insurance policy in place which may cover these costs with an excess of €10,000 payable which equates to approximately £8,660 as at the reporting date.

The directors believe that if it is decided that the group is liable to cover these costs, the group would be eligible to make an insurance claim.

Contingent Assets

Following the transfer of the funeral plans and related debtors to Dignity Funerals Limited on 31 October 2022, an actuarial valuation will take place dated 31 October 2024 to ascertain the value of the transferred plans. it was agreed that a proportion of the actuarial surplus would be transferred to the group. At the date of signing the accounts, the value of the transferred plans had not been calculated and so the inflow of economic benefit cannot be disclosed.

26. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 September 2023 and 29 September 2022:

29.9.23 29.9.22
£    £   
J A Elder
Balance outstanding at start of year - -
Amounts advanced 3,619,071 4,943,597
Amounts repaid (3,619,071 ) (4,943,597 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

27. RELATED PARTY DISCLOSURES

Key management personnel of the entity or its parent (in the aggregate)
29.9.23 29.9.22
£    £   
Amount due to related party 360,520 54,647

B D I Group Ltd (Registered number: 03533573)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 September 2023


27. RELATED PARTY DISCLOSURES - continued

Amounts owed to key management personnel relate to an interest free loan with no fixed terms of repayment.

Amounts owed to entities over which the entity has control, joint control or significant influence comprise interest free loans with no fixed terms of repayment.

28. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J A Elder.