Company registration number 02414633 (England and Wales)
A1-CBISS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
A1-CBISS LIMITED
COMPANY INFORMATION
Directors
Mr SP Duggan
Mr S Thorneycroft
Mr TM Sands
Company number
02414633
Registered office
5 Valiant Way
Lairdside Technology Park
Birkenhead
CH41 9HS
Auditor
Sedulo Audit Limited
5th Floor Walker House
Exchange Flags
Liverpool
Merseyside
United Kingdom
L2 3YL
A1-CBISS LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Directors' responsibilities statement
4
Independent auditor's report
5 - 8
Income statement
9
Statement of financial position
10
Statement of changes in equity
11
Notes to the financial statements
12 - 26
A1-CBISS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The directors present the strategic report for the year ended 31 December 2023.

Review of the business

The company is managed as part of an overall group of companies whose ultimate parent company is Envea Global SAS ("the Group"). The Directors report revenue for the period ended 31 December 2023 of £5,381,909 (2022: £13,442,741) and profit before tax of £1,113,132 (2022: £3,031,970).

 

Trading ceased on 30th June 2023, with all trade and assets being transferred to Envea UK at book value effective from 1st July 2023.

 

The financial statements have been prepared in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework' ("FRS 101").

 

The principal risks and uncertainties of the Company are integrated with the principal risks and uncertainties of the Group and are not managed separately.

 

The continued success of the Company is the ability to identify and manage effectively the risks to the business. Accordingly, in common with the Group generally, the Company has well-defined, rigorous policies and processes designed to identify, mitigate and control risk.

 

The primary risks that have the potential to adversely impact on our business over the next twelve months are considered to be as follows:

 

- Downturn/​instability in major markets: Adverse changes in the major markets in which the Company operates can have a significant impact on performance. The Company identifies key market drivers and monitors the trends and forecasts, as well as maintaining close relationships with key customers.

 

- Loss of key customers - the loss of one or more major customers can be a material risk. The nature of the Group's businesses is such that there is not a high level of dependence on any individual customer.

 

- Loss of key personnel - the Company is built upon a strong management team and the loss of key personnel can have an impact on the company. The company places high importance on developing and rewarding key employees to help in mitigating this risk.

 

Key performance indicators

The key performance indicators which the Directors use to monitor and manage performance of the Company are revenue, operating profit and profit after tax, which are all disclosed and discussed in the business review above.

On behalf of the board

Mr SP Duggan
Director
15 March 2024
A1-CBISS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2023.

Principal activities

The principal activity of the Company up to 30th June 2023 continued to be that of the supply, installation and maintenance of personal, portable, fixed gas monitoring and environmental monitoring systems which can identify asphyxiate, flammable, refrigerant and toxic gases. The company ceased to trade on 30th June 2023.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £3,100,000. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr SP Duggan
Mr S Kempenar
(Resigned 31 May 2023)
Mr S Thorneycroft
Mr TM Sands
Supplier payment policy

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

 

The company's current policy concerning the payment of trade creditors is to:

 

Trade creditors of the company at the period end were equivalent to 40 day's purchases, based on the average daily amount invoiced by suppliers during the period.

Future developments

Trading ceased on 30th June 2023, with all trade and assets being transferred to Envea UK at book value effective from 1st July 2023.

The financial statements have not been prepared under the going concern basis. Please refer to note 1.2 for further detail.

Going concern
The financial statements have not been prepared under the going concern basis. Please refer to note 1.2 for further detail.
Changes in presentation of the financial statements

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

A1-CBISS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr SP Duggan
Director
15 March 2024
A1-CBISS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -

The directors are responsible for preparing the annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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:

 

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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

A1-CBISS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF A1-CBISS LIMITED
- 5 -
Opinion

We have audited the financial statements of A1-CBISS Limited (the 'company') for the year ended 31 December 2023 which comprise the income statement, the statement of financial position, the statement of changes in equity and notes to the financial statements, including 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 101 Reduced Disclosure Framework (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 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.

Emphasis of matter - Non-going concern basis of preperation

We draw attention to the disclosure made in note 1.2 to the financial statements which explains that the financial statements are now not prepared on the going concern basis for the reasons set out in that note. Our opinion is not modified in respect of this matter.

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 report. 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. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

A1-CBISS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF A1-CBISS LIMITED
- 6 -
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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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.

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.

Based on our understanding of the company and industry, we identified that there are no particular principle risks of non-compliance with laws and regulations.  We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006.  We evaluated management incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principle risks were related to posting inappropriate journal entries to increase profits, through management bias in accounting for significant creditors and expenses.

 

A1-CBISS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF A1-CBISS LIMITED
- 7 -

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

A1-CBISS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF A1-CBISS LIMITED
- 8 -

Use of our report

This report is made solely to the company’s member 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 member, those matters we are required to state to the member 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 member, for our audit work, for this report, or for the opinions we have formed.

Katelyn Dutton (Senior Statutory Auditor)
For and on behalf of Sedulo Audit Limited
26 March 2025
Chartered Accountants
Statutory Auditor
5th Floor Walker House
Exchange Flags
Liverpool
Merseyside
United Kingdom
L2 3YL
A1-CBISS LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
Year
Period
ended
ended
31 December
31 December
2023
2022
Notes
£
£
Revenue
3
5,381,909
13,442,741
Cost of sales
(3,467,886)
(8,339,381)
Gross profit
1,914,023
5,103,360
Administrative expenses
(822,809)
(2,019,086)
Operating profit
4
1,091,214
3,084,274
Investment income
8
21,918
-
0
Finance costs
9
-
0
(52,304)
Profit before taxation
1,113,132
3,031,970
Tax on profit
10
(200,000)
(582,669)
Profit and total comprehensive income for the financial year
913,132
2,449,301
A1-CBISS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 10 -
2023
2022
Notes
£
£
£
£
Non-current assets
Intangible assets - goodwill
13
-
0
687,667
Property, plant and equipment
14
-
0
1,194,130
-
0
1,881,797
Current assets
Inventories
15
-
1,157,852
Trade and other receivables
17
4,201,908
3,952,953
Cash and cash equivalents
-
0
3,637,689
4,201,908
8,748,494
Current liabilities
18
-
0
(3,351,650)
Net current assets
4,201,908
5,396,844
Total assets less current liabilities
4,201,908
7,278,641
Non-current liabilities
18
-
0
(870,822)
Provisions for liabilities
Deferred tax liabilities
21
-
0
(19,043)
Net assets
4,201,908
6,388,776
Equity
Called up share capital
23
52,900
52,900
Retained earnings
4,149,008
6,335,876
Total equity
4,201,908
6,388,776

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 15 March 2024 and are signed on its behalf by:
Mr SP Duggan
Director
Company registration number 02414633 (England and Wales)
A1-CBISS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 11 -
Share capital
Retained earnings
Total
Notes
£
£
£
Balance at 1 October 2021
52,900
3,886,575
3,939,475
Period ended 31 December 2022:
Profit and total comprehensive income
-
2,449,301
2,449,301
Balance at 31 December 2022
52,900
6,335,876
6,388,776
Year ended 31 December 2023:
Profit and total comprehensive income
-
913,132
913,132
Transactions with owners:
Dividends
11
-
(3,100,000)
(3,100,000)
Balance at 31 December 2023
52,900
4,149,008
4,201,908
A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 12 -
1
Accounting policies
Company information

A1-CBISS Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Valiant Way, Lairdside Technology Park, Birkenhead, CH41 9HS. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1
Accounting convention

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

 

The current reporting period covers 12 months, whereas the prior reporting period covered 15 months. As a result, the comparative figures are not directly comparable.

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. The principal accounting policies adopted are set out below.

Reporting period length

As permitted by FRS 101, the company has taken advantage of the following disclosure exemptions from the requirements of IFRS

Where required, equivalent disclosures are given in the group accounts of Envea Global SAS. The group accounts of Envea Global SAS are available to the public and can be obtained as set out in note 25.

1.2
Going concern

The company ceased trading on 30 June 2023 and it is the intention of the Directors that the entity will be wound up in the next 18 months. Accordingly, the going concern basis of accounting is no longer considered to be appropriate as at 31 December 2023. No adjustments were necessary in these financial statements to reduce assets to their realisable values, to provide for liabilities or to reclassify fixed or long term liabilities as current assets or liabilities. true

A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 13 -
1.3
Revenue

Revenue is measured as the fair value of the consideration received for goods supplied or services rendered to customers, after deducting sales allowances and value added taxes. Revenue is recognised when control has been passed to the customer, which depending on individual customer terms, is at the time of despatch, delivery or upon formal customer acceptance.

 

Service revenue received in advance is deferred and recognised over a period of the contract. For fixed price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously. For service contracts including a goods element, revenue for the separate goods are recognised at a point in time when the goods are delivered, the legal title has passed and the customer has accepted the goods.

 

In the case of long term contracts, revenue and costs are recognised based on the stage of the completion of each project, if the final outcome can be assessed with reasonable certainty. Where contracts include multiple performance obligations, the transactions price will be allocated to each performance obligation based on the stand-alone selling prices. Where it is probable that contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately. During the current year, the Directors have reviewed the treatment of amounts recoverable on contracts and as in the previous year these are included in debtors and represent revenue recognised in excess of payments on account.

 

1.4
Goodwill

Goodwill represents the excess of the cost of a business combination over the total acquisition date fair value of the identifiable assets, liabilities and contingent liabilities acquired. Cost comprises the fair value of assets given and liabilities assumed.

 

Goodwill is capitalised as an intangible asset and is not amortised. Instead it is reviewed annually for impairment with any impairment in carrying value being charged to the Profit and Loss Account.

1.5
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10 years
Fixtures and fittings
5 years
Plant and equipment
5 years
IT software
4 years
Motor vehicles
5 years
IT hardware
4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

Right-of use assets are depreciated on a straight-line basis over the length of the lease to which they relate.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 14 -
1.6
Impairment of tangible and intangible assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

 

Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on weighted average basis. Work in progress and finished goods include labour and attributable overheads.

 

At the balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Profit and Loss Account.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
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 income statement 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.

A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 15 -
Deferred tax

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary 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 income statement, 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.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of inventories or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

 

All contributions are charged to the Profit and Loss Account in year in which they are incurred.

1.12
Leases

At inception, the company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within property, plant and equipment, apart from those that meet the definition of investment property.

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date plus any initial direct costs and an estimate of the cost of obligations to dismantle, remove, refurbish or restore the underlying asset and the site on which it is located, less any lease incentives received.

 

The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of other property, plant and equipment. The right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.

A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 16 -

The lease liability is initially measured at the present value of the lease payments that are unpaid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the company's incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise fixed payments, variable lease payments that depend on an index or a rate, amounts expected to be payable under a residual value guarantee, and the cost of any options that the company is reasonably certain to exercise, such as the exercise price under a purchase option, lease payments in an optional renewal period, or penalties for early termination of a lease.

The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less, or for leases of low-value assets including IT equipment. The payments associated with these leases are recognised in profit or loss on a straight-line basis over the lease term.

1.13
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.

1.14

Debtors

Short term debtors, including amounts due from group undertakings, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 

In assessing for potential impairment under IFRS 9, the Company assesses on a forward looking basis the expected credit losses associated with its debtors carried at amortised cost. The impairment methodology applied depends on whether there has been a significant increase in credit risk.

 

1.15

Creditors

Trade and other creditors are non-interest bearing and are stated at their nominal value.

1.16

Finance costs

Finance costs are charged to the 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 reduction in the proceeds of the associated capital instrument.

2
Critical accounting estimates and judgements

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, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

 

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

The Directors believe that the financial statements reflect appropriate judgements and estimates and provide a true and fair view of the Company's performance and financial position.

A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 17 -
3
Revenue

The revenue and profit before tax are attributable to the one principle activity of the Company.

 

Timing of revenue recognition:

2023
2022
£
£
Revenue analysed by class of business
Goods and services transferred at a point in time
2,496,483
6,235,232
Goods and services transferred over time
2,885,426
7,207,509
5,381,909
13,442,741
2023
2022
£
£
Revenue analysed by geographical market
United Kingdom
4,633,549
12,199,015
Rest of Europe
475,357
745,247
Rest of the world
273,003
498,479
5,381,909
13,442,741

Accrued income (“contract assets”) at 31 December 2023 of £nil (2022: £46,000) and deferred revenue (“contract liabilities”) of £nil at 31 December 2023 (2022: £773,000) is included In trade and other receivables and trade and other payables, respectively.

 

4
Operating profit
2023
2022
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses
7,787
26,655
Research and development costs
20,833
65,559
Depreciation of property, plant and equipment
25,559
369,431
Cost of inventories recognised as an expense
3,460,670
8,311,839
5
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
13,750
18,000

There were no fees payable for non-audit services (2022: £nil).

A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 18 -
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Administration
27
57
Sales
4
5
Total
31
62

Their aggregate remuneration comprised:

2023
2022
£
£
Wages and salaries
1,251,674
2,923,447
Social security costs
131,379
295,733
Pension costs
34,348
82,477
1,417,401
3,301,657
7
Directors' remuneration
2023
2022
£
£
Remuneration for qualifying services
135,916
288,235
Company pension contributions to defined contribution schemes
8,018
18,264
143,934
306,499

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2022 - 2).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2023
2022
£
£
Remuneration for qualifying services
53,333
157,331
Company pension contributions to defined contribution schemes
4,368
9,930

Two directors received emoluments during the year in respect of their services to the Company (2022: two). The other directors were remunerated by other group companies and their remuneration is disclosed in the financial statements of those companies. No recharge is made to the Company in respect of their services.

A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 19 -
8
Investment income
2023
2022
£
£
Interest income
Interest on bank deposits
21,918
-
0
9
Finance costs
2023
2022
£
£
Interest on financial liabilities measured at amortised cost:
Interest on lease liabilities
-
52,304
10
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
200,000
569,283
Deferred tax
Origination and reversal of temporary differences
-
0
13,386
Total tax charge
200,000
582,669

From 1 April 2023 the main rate of corporation tax rose from 19% to 25%. Under the rules in place from 1 April 2023, the corporation tax rate a company pays in an accounting period depends on the level of its augmented profits.

Where profits lie between the small profits limit and the upper profits limit, a main rate of 25% less marginal relief is payable.

The charge for the year can be reconciled to the profit per the income statement as follows:

2023
2022
£
£
Profit before taxation
1,113,132
3,031,970
Expected tax charge based on a corporation tax rate of 25.00% (2022: 19.00%)
278,283
576,074
Effect of expenses not deductible in determining taxable profit
(10,355)
21,744
Effect of change in UK corporation tax rate
(34,371)
4,570
Research and development tax credit
(38,057)
(20,300)
Other permanent differences
4,500
581
Taxation charge for the year
200,000
582,669
A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
10
Taxation
(Continued)
- 20 -

The Chancellor confirmed an increase in the corporation tax (CT) rate from 19 to 25 percent with effect from 1 April 2023. This rate has been substantively enacted and therefore any deferred tax expected to unwind post 1 April 2023 has been measured at 25%.

11
Dividends
2023
2022
2023
2022
Amounts recognised as distributions:
per share
per share
Total
Total
£
£
£
£
Ordinary
Interim dividend paid
84.11
-
3,100,000
-
12
Cessation of trade

As at 30th June 2023 the company ceased to trade.

13
Intangible fixed assets
Goodwill
£
At 31 December 2022
687,667
Disposals
(687,667)
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
687,667
A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 21 -
14
Property, plant and equipment
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
IT software
Motor vehicles
IT hardware
Total
£
£
£
£
£
£
£
Cost
At 1 January 2023
1,284,399
149,860
22,490
142,477
406,932
46,436
2,052,594
Additions
-
0
5,437
1,916
-
0
-
0
10,081
17,434
Disposals
(1,284,399)
(155,297)
(24,406)
(142,477)
(406,932)
(56,517)
(2,070,028)
At 31 December 2023
-
0
-
0
-
0
-
0
-
0
-
0
-
0
Accumulated depreciation and impairment
At 1 January 2023
388,095
95,878
21,366
142,477
187,080
23,568
858,464
Charge for the year
9,307
7,474
1,284
-
0
1,048
6,446
25,559
Eliminated on disposal
(397,402)
(103,352)
(22,650)
(142,477)
(188,128)
(30,014)
(884,023)
At 31 December 2023
-
0
-
0
-
0
-
0
-
0
-
0
-
0
Carrying amount
At 31 December 2023
-
0
-
0
-
0
-
0
-
0
-
0
-
0
At 31 December 2022
896,304
53,982
1,124
-
0
219,852
22,868
1,194,130
A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 22 -

Property, plant and equipment includes right-of-use assets, as follows:

Right-of-use assets
2023
2022
£
£
Net values at the year end
Property
-
798,583
Motor vehicles
-
210,629
-
1,009,212
Total additions in the year
-
258,306
Depreciation charge for the year
Property
-
117,563
Motor vehicles
-
191,706
-
309,269
15
Inventories
2023
2022
£
£
Finished goods
-
1,157,852

Stock is stated net of impairment provision of £nil (2022: £173,000).

16
Contracts with customers
2023
2022
2022
Period end
Period end
Period start
£
£
£
Contracts in progress
Contract assets
-
444,213
542,895
Contract liabilities
-
(22,835)
(27,856)
A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 23 -
17
Trade and other receivables
2023
2022
£
£
Trade receivables
-
1,932,290
Provision for bad and doubtful debts
-
(9,150)
-
1,923,140
Contract assets (note 16)
-
444,213
Amounts owed by fellow group undertakings
4,201,908
1,349,580
Other receivables
-
84,580
Prepayments and accrued income
-
0
151,440
4,201,908
3,952,953

Amounts owed by group undertakings are repayable on demand and non-interest bearing (2022: same).

18
Liabilities
Current
Non-current
2023
2022
2023
2022
Notes
£
£
£
£
Trade and other payables
19
-
0
2,116,413
-
0
-
0
Corporation tax
-
0
570,541
-
-
Other taxation and social security
-
462,698
-
-
Lease liabilities
20
-
0
201,998
-
0
870,822
-
3,351,650
-
870,822
19
Trade and other payables
2023
2022
£
£
Trade payables
-
0
733,426
Contract liabilities (note 16)
-
22,835
Accruals and deferred income
-
0
1,248,448
Other payables
-
111,704
-
2,116,413

Included in trade payables are balances due to fellow group undertakings of £nil (2022: £296,199). All amounts due within one year, are repayable on demand and non-interest bearing.

A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 24 -
20
Lease liabilities
2023
2022
Maturity analysis
£
£
Within one year
-
201,998
In two to five years
-
333,598
In over five years
-
537,224
Total undiscounted liabilities
-
1,072,820

Lease liabilities are classified based on the amounts that are expected to be settled within the next 12 months and after more than 12 months from the reporting date, as follows:

2023
2022
£
£
Current liabilities
-
0
201,998
Non-current liabilities
-
0
870,822
-
1,072,820
2023
2022
Amounts recognised in profit or loss include the following:
£
£
Interest on lease liabilities
-
52,304
Other leasing information is included in note 24.
A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 25 -
21
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.

ACAs
£
Asset at 1 January 2022
(6,134)
Deferred tax movements in prior year
Charge/(credit) to profit or loss
25,177
Liability at 1 January 2023
19,043
Deferred tax movements in current year
Charge/(credit) to profit or loss
(19,043)
Liability at 31 December 2023
-

A deferred tax liability of £nil (2022: asset of £19,043) was recognised in the current year as detailed above. There was no unrecognised elements of deferred tax (2022: £nil).

22
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
34,348
82,477

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

23
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
50,000
50,000
50,000
50,000
Ordinary B of £1 each
2,900
2,900
2,900
2,900
52,900
52,900
52,900
52,900
A1-CBISS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 26 -
24
Other leasing information
Lessee

Amounts recognised in profit or loss as an expense during the period in respect of lease arrangements are as follows:

 

Interest expense on lease liabilities £nil (2022: £49,400).

Depreciation on right to use assets £nil (2022: £191,706)

2023
2022
£
£
Expense relating to variable lease payments not included in lease liabilities
-
21,995
Information relating to lease liabilities is included in note 20.
25
Controlling party

Envea Global SAS, a company incorporated in France, is the ultimate parent undertaking and is the parent undertaking of the smallest and largest group to consolidate these financial statements.

 

Copies of the consolidated financial statements of Envea Global SAS for the period ended 31 December 2023 can be obtained from the registered address below:

 

111 Boulevard Robespierre

78300 Poissy

France

 

 

 

 

 

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