Company registration number 08104785 (England and Wales)
BIO COLLECTORS HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BIO COLLECTORS HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BIO COLLECTORS HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
31 March
30 September
2024
2022
Notes
£
£
£
£
Fixed assets
Investments
4
45,200
45,200
Current assets
Debtors
5
3,593,841
3,695,865
Creditors: amounts falling due within one year
6
(410,570)
(213,282)
Net current assets
3,183,271
3,482,583
Total assets less current liabilities
3,228,471
3,527,783
Creditors: amounts falling due after more than one year
7
(3,183,369)
(3,482,681)
Net assets
45,102
45,102
Capital and reserves
Called up share capital
8
45,102
45,102
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 6 March 2025 and are signed on its behalf by:
S Matthews
Director
Company Registration No. 08104785
BIO COLLECTORS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Bio Collectors Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Osier Way, Mitcham, Surrey, CR4 4NF.
1.1
Reporting period
During the current financial period, the Board made the decision to change the accounting year end to 31 March. In order to achieve this, it was decided to prepare accounts for the eighteen months to 31 March 2024, as permitted under section 391(5) of the Companies Act 2006. The previous period is for the 12 months to 30 September 2022 and as such the two periods are not entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
Details of the company's subsidiaries can be found in note 7.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
BIO COLLECTORS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
BIO COLLECTORS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
There are no significant judgements or estimates in these financial statements.
3
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
2022
Number
Number
Total
4
Fixed asset investments
2024
2022
£
£
Shares in group undertakings and participating interests
45,200
45,200
BIO COLLECTORS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 5 -
5
Debtors
2024
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
3,567,951
3,668,783
Other debtors
25,890
27,082
3,593,841
3,695,865
Debtors includes £3,183,369 receivable after more than one year (2022: £3,482,681) relating to amounts owed by group undertakings.
6
Creditors: amounts falling due within one year
2024
2022
£
£
Amount owed to parent company
203,946
178,458
Amounts owed to group undertakings
180,632
Corporation tax
3,042
Other creditors
100
100
Accruals and deferred income
25,892
31,682
410,570
213,282
7
Creditors: amounts falling due after more than one year
2024
2022
£
£
Amounts owed to parent undertakings
3,183,369
3,482,681
Amounts due in over five years relate to a loan facility issued on 17 December 2019 repayable in quarterly instalments over 15 years with an annual interest rate of 9.00%.
Amounts included above which fall due after five years are as follows:
Payable by instalments
2,159,235
2,586,538
8
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of 10p each
451,020
451,020
45,102
45,102
BIO COLLECTORS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 6 -
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the 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.
Senior Statutory Auditor:
Katherine Wilkes
Statutory Auditor:
Gravita Audit Oxford LLP
Date of audit report:
26 March 2025
10
Parent company
The ultimate controlling party is Foresight Environmental Infrastructure (UK) Ltd, incorporated in England and Wales. The address of its registered office is Foresight Group LLP The Shard, 32 London Bridge Street, London, United Kingdom, SE1 9SG.
The ultimate parent is Foresight Environmental Infrastructure Ltd, incorporated in Guernsey, Channel Islands.
11
Related party transactions
2024
2022
Amounts due to related parties
£
£
Foresight Environmental Infrastructure Ltd
3,387,316
3,661,139
Terms of loans from related parties
A loan facility was issued on 17 December 2019 repayable in quarterly instalments over 15 years with an annual interest rate of 9.00%.
Other information
Summary of transactions with parent
Foresight Environmental Infrastructure Ltd
Parent company owning 100% of the share capital of Bio Collectors Holdings Limited
During the year dividends were paid to Foresight Environmental Infrastructure Ltd totalling £280,000 (2022: £350,000).