Company registration number 06915661 (England and Wales)
IDI-CI EUROPE HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
IDI-CI EUROPE HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
IDI-CI EUROPE HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
€
€
€
€
Fixed assets
Investments
3
8,441,181
8,441,181
Current assets
Cash at bank and in hand
5,965
1,920
Creditors: amounts falling due within one year
5
(2,355)
(2,906)
Net current assets/(liabilities)
3,610
(986)
Net assets
8,444,791
8,440,195
Capital and reserves
Called up share capital
6
250,000
250,000
Profit and loss reserves
8,194,791
8,190,195
Total equity
8,444,791
8,440,195
The director of the company has 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 and signed by the director and authorised for issue on 6 June 2025
T Merrell
Director
Company Registration No. 06915661
IDI-CI EUROPE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
IDI-CI Europe Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit One, Oldbury Park, Popes Lane, Oldbury, West Midlands, B69 4RG.
1.1
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 euros, 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.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
IDI-CI Europe Holdings Limited is a wholly owned subsidiary of Industrial Dielectrics Holdings Inc and the results of IDI-CI Europe Holdings Limited are included in the consolidated financial statements of Industrial Dielectrics Holdings Inc which are available from its registered office, 15389 North Pointe Blvd., Noblesville, Indiana 46060, United States of America.
1.2
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.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
IDI-CI EUROPE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and 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.
1.4
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors and trade creditors.
Trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and withholding tax.
1.6
Foreign exchange
Transactions in currencies other than euros 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
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
€
€
Shares in group undertakings and participating interests
8,441,181
8,441,181
4
Subsidiaries
Details of the company's subsidiaries at 31 December 2024 are as follows:
IDI-CI EUROPE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4
Subsidiaries
(Continued)
- 4 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
IDI Composites International Europe SAS
Zone Industrielle, 121 Rue Laennec, 41350, Vineuil, France
Ordinary
100.00
5
Creditors: amounts falling due within one year
2024
2023
€
€
Amounts owed to group undertakings
2,355
2,906
Amounts owed to group undertakings have no fixed term for repayment, are unsecured and repayable on demand at any time demanded by the lender. Interest is not charged by the lender.
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
€
€
Issued and fully paid
Ordinary shares of €1 each
250,000
250,000
250,000
250,000
7
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 was unqualified.
Senior Statutory Auditor:
Ian Marsh
Statutory Auditor:
Neal and Co Audit Services Limited
8
Related party transactions
The company has taken advantage of the exemption under FRS 102 "Related Party Disclosures" not to disclose related party transactions between companies which are 100% owned by the ultimate parent company.
IDI-CI EUROPE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
9
Parent company
The company is wholly owned by Industrial Dielectrics Holdings Inc., a company incorporated in the United States of America.
The smallest and largest group in which the results of the company are consolidated is that headed by Industrial Dielectrics Holdings Inc. whose registered office is as follows:
Industrial Dielectrics Holdings Inc.
15389 North Pointe Blvd.
Noblesville
Indiana 46060
United States of America