| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| BATRI LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| BATRI LIMITED |
| BATRI LIMITED (REGISTERED NUMBER: 12666219) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| BATRI LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Court House |
| Court Road |
| Bridgend |
| CF31 1BE |
| BATRI LIMITED (REGISTERED NUMBER: 12666219) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| BATRI LIMITED (REGISTERED NUMBER: 12666219) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Batri Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company has net current liabilities of £363,787 and total liabilities of £314,507 (2023: £174,717 and £169,776 respectively). The directors have confirmed their continued support for the business so the accounts have been produced on the going concern basis. |
| Tangible fixed assets |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the 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. |
| Hire purchase and leasing commitments |
| 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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| BATRI LIMITED (REGISTERED NUMBER: 12666219) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Share based payments |
| Equity-settled transactions |
| The cost of equity-settled transactions with employees is measured by reference to the fair value of the equity instruments granted at the date at which they are granted and is recognised as an expense over the vesting period, which ends on the date on which the relevant employees become fully entitled to the award. Fair value is determined by an external valuer using an appropriate pricing model. In valuing equity-settled transactions, no account is taken of any vesting conditions, other than conditions linked to the price of the shares of the company (market conditions) and non vesting conditions. No expense is recognised for awards that do not ultimately vest, except for awards where vesting is conditional upon a market or non vesting condition, which are treated as vesting irrespective of whether or not the market or non vesting condition is satisfied, provided that all other performance conditions are satisfied. |
| At each balance sheet date before vesting, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management's best estimate of the achievement or otherwise of non-market conditions and of the number of equity instruments that will ultimately vest or in the case of an instrument subject to a market condition, be treated as vesting as described above. The movement in cumulative expense since the previous balance sheet date is recognised in the income statement, with a corresponding entry in equity. |
| Where the terms of an equity-settled award are modified or a new award is designated as replacing a cancelled or settled award, the cost based on the original award terms continues to be recognised over the original vesting period. In addition, an expense is recognised over the remainder of the new vesting period for the incremental fair value of any modification, based on the difference between the fair value of the original award and the fair value of the modified award, both as measured on the date of the modification. No reduction is recognised if this difference is negative. |
| Where an equity-settled award is cancelled, it is treated as if it had vested on the date of cancellation, and any cost not yet recognised in the profit and loss account for the award is expensed immediately. Any compensation paid up to the fair value of the award at the cancellation or settlement date is deducted from equity, with any excess over fair value expensed in the profit and loss account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| BATRI LIMITED (REGISTERED NUMBER: 12666219) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | RELATED PARTY DISCLOSURES |
| Included in creditors is an amount of £55,526 (2023: £23,125) due to one of the directors. This amount is repayable on demand. |
| Included in creditors are loan amounts totalling £311,570 (£2023: £217,075) due to companies in which a director is also a director. |
| BATRI LIMITED (REGISTERED NUMBER: 12666219) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 8. | SHARE-BASED PAYMENT TRANSACTIONS |
| An Enterprise Management Incentive share option scheme was approved in 2024. Under this scheme the options will vest if the employees who have been granted the options satisfy the working time requirements for the period up to and including the date of sale of the company. The options will lapse should the employee either leave employment or not meet the defined working time requirements. The contractual life of the options is ten years from the date of approval. During the year there were 56,000 share options granted (2023: none) and none were forfeited (2023: none). As at 31 December 2024 the total number of options granted which have not lapsed is 56,000 (2023: None). |
| The exercise price for options outstanding at the end of the year was £0.10. There are no cash settlement alternatives. The fair value of these equity settled options was estimated as at the date of grant based on a third party investment undertaken on an arms length basis and taking into account performance of the business since that date and the terms and conditions upon which the options are granted. |
| A second non - EMI share option scheme was approved in 2024. Under this scheme the options will vest if the individuals who have been granted the options satisfy conditions up to and including the date of sale of the company. The options will lapse should the individual either leave employment or not meet the defined leaver requirements. The contractual life of the options is ten years. During the year there were 76,000 share options granted (2023: none) and none were forefeited (2023: none). As at the 31 December 2024 the total number of options granted which have not lapsed is 76,000 (2023: none). |
| The exercise price for options outstanding at the end of the year was £0.10. There are no cash settlement alternatives. The fair value of equity settled options granted is estimated as at the date of grant based on a third party investment undertaken on an arms length basis and taking into account performance of the business since that date and the terms and conditions upon which the options are granted. |
| A third non - EMI share option scheme was approved during the year, in 2024. Under this scheme the options will vest if the individuals who have been granted the options satisfy conditions up to and including the date of sale of the company. The options will lapse should the individual either leave employment or not meet the defined leaver requirements. The contractual life of the options is ten years. During the year there were 9,000 share options granted and none forefeited. As at the 31 December 2024 the total number of options granted which have not lapsed is 9,000 (2023: none). |
| The exercise price the for options outstanding at the end of the year was £0.10. There are no cash settlement alternatives. The fair value of equity settled options granted is estimated as at the date of grant based on a third party investment undertaken on an arms length basis and taking into account performance of the business since that date and the terms and conditions upon which the options are granted. |
| The expense recognised for these equity settled share-based payments during the year to 31 December 2024 is £nil (2023: £nil). |