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Registered number: 14310211 BEMCHIMMO UK LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
BEMCHIMMO UK LIMITED REGISTERED NUMBER: 14310211 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 859 |  | 1,146
Tangible assets | 5 |  | 4,207,736 |  | 4,389,589
|  |  | 4,208,595 |  | 4,390,735
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 1,100 |  | 106,963 |
Cash at bank and in hand | 7 | 42,685 |  | 58,340 |
|  | 43,785 |  | 165,303 |
Creditors: amounts falling due within one year | 8 | (265,124) |  | (364,388) |
Net current liabilities |  |  | (221,339) |  | (199,085)
Total assets less current liabilities |  |  | 3,987,256 |  | 4,191,650
Creditors: amounts falling due after more than one year | 9 |  | (2,841,061) |  | (3,152,827)
Net assets |  |  | 1,146,195 |  | 1,038,823
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 985,543 |  | 985,543
Profit and loss account |  |  | 160,652 |  | 53,280
|  |  | 1,146,195 |  | 1,038,823
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 July 2025.
J F Darvill
Director
Page 1
BEMCHIMMO UK LIMITED REGISTERED NUMBER: 14310211 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The notes on pages 3 to 9 form part of these financial statements. Page 2
BEMCHIMMO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Bemchimmo UK Limited is a private company limited by shares and incorporated in England and Wales. It has its registered office at C/O Puratos Limited, Buckingham Industrial Park, Buckingham, Buckinghamshire, United Kingdom, MK18 1XT. The Principal activity of the company during the year has been that of letting and operating of own or leased real estate. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 3
BEMCHIMMO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Finance costs
Finance costs are charged to 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 a reduction in the proceeds of the associated capital instrument.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.6 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
| 2.7 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Page 4
BEMCHIMMO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | Own useful life
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. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable 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.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2023 - 3).
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BEMCHIMMO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Intangible assets
|  | Formation expense
|  | £
| Cost |
| At 1 January 2024 | 1,433
| At 31 December 2024 | 1,433
| Amortisation |
| At 1 January 2024 | 287
| Charge for the year | 287
| At 31 December 2024 | 574
| Net book value |
| At 31 December 2024 | 859
| At 31 December 2023 | 1,146
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BEMCHIMMO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Tangible fixed assets
|  | Freehold property
|  | £
| Cost or valuation |
| At 1 January 2024 | 4,629,310
| At 31 December 2024 | 4,629,310
| Depreciation |
| At 1 January 2024 | 239,721
| Charge for the year | 181,853
| At 31 December 2024 | 421,574
| Net book value |
| At 31 December 2024 | 4,207,736
| At 31 December 2023 | 4,389,589
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | - | 106,963
| Prepayments and accrued income | 1,100 | -
|  | 1,100 | 106,963
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 42,685 | 58,340
| Less: bank overdrafts | - | (47,137)
|  | 42,685 | 11,203
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BEMCHIMMO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank overdrafts | - | 47,137
| Trade creditors | 628 | 599
| Amounts owed to group undertakings | 167,121 | 175,157
| Corporation tax | 40,260 | 87,977
| Other taxation and social security | 18,432 | 17,827
| Accruals and deferred income | 38,683 | 35,691
|  | 265,124 | 364,388
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 2,841,061 | 3,152,827
|  | 2,841,061 | 3,152,827
Page 8
BEMCHIMMO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 985,543 (2023 - 985,543) Ordinary shares of £1.00 each | 985,543 | 985,543
11. | Related party transactions
| Included within other creditors are amounts owed to parent company totalling £3,008,182 (2023: £3,327,984). A formal loan agreement has been prepared for repayments and interest is charged at market rate.
12. | Controlling party
The ultimate controlling party is Bemchimmo Group SA.
13. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 30 July 2025 by Duncan Stannett (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.
Page 9