Bi-Silque Visual Communication Products Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Bi-Silque Visual Communication Products Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03093943 . The registered office is 5 Ribblesdale Place, Preston, PR1 8BZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis. The company is reliant on the continued support of Bi-Office - Solucoes Colaborativas S.A., a related undertaking.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold land and buildings	2% on cost
Machinery and equipment	25% on written down value
Computer equipment	25% on cost

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Bi-Silque Visual Communication Products Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2023: 9)

4. Tangible Assets

	Land & Property
	Freehold land and buildings	Machinery and equipment	Computer equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	496,257	45,407	65,752	607,416
Additions	-	9,175	472	9,647

As at 31 December 2024	496,257	54,582	66,224	617,063

...CONTINUED

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Bi-Silque Visual Communication Products Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Depreciation
As at 1 January 2024	186,181	43,166	64,921	294,268
Provided during the period	7,920	1,512	420	9,852

As at 31 December 2024	194,101	44,678	65,341	304,120

Net Book Value
As at 31 December 2024	302,156	9,904	883	312,943

As at 1 January 2024	310,076	2,241	831	313,148

Freehold land and property includes £100,000 (2023 - £100,000) in respect of land which is not depreciated.

5. Stocks

	2024	2023
	£	£
Stocks	601,199	687,734

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	343,040	345,747
Prepayments and accrued income	15,076	24,429
Corporation tax recoverable	6,700	-
Amounts owed by related undertakings	-	3,085

	364,816	373,261

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	78,802	80,452
Bank loans and overdrafts	157,725	113,648
Corporation tax	-	18,650
Other taxes and social security	74,159	89,778
Accruals and deferred income	19,362	31,489
Amounts owed to related undertakings	778,371	845,057

	1,108,419	1,179,074

The bank overdraft is secured by a legal charge over the land and buildings.

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Bi-Silque Visual Communication Products Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	151,000	151,000

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	8,146	8,146
Later than one year and not later than five years	8,746	16,892

	16,892	25,038

10. Related Party Transactions

During the year the company had the following transactions with the following related parties :-

(i) Bi-Silque Produtos de Comunicação Visual S.A., incorporated in Portugal

(a) Purchases during the year - £103,233

(b) Creditors: amounts falling due within one year at 31st December 2024 - £11,632

(ii) Bi-Bright Comunicação Visual Interact S.A., incorporated in Portugal

(a) Creditors: amounts falling due within one year at 31st December 2024 - £Nil

(iii) Bi-Bloco Produtos de Comunicação S.A., incorporated in Portugal

(a) Purchases during the year - £26,497

(b) Creditors: amounts falling due within one year at 31st December 2024 - £178,147

(iv) Bi-Office - Solucoes Colaborativas S.A., incorporated in Portugal

(a) Purchases during the year - £1,558,335

(b) Creditors: amounts falling due within one year at 31st December 2024 - £588,592

The above companies were related parties throughout the year as they continue to be controlled by the same persons as Bi-Silque Visual Communication Products Limited or by a member of their close family.

11. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. Ultimate Controlling Party

During the year the parent undertaking was Beelt BV, incorporated in Holland. The company is controlled by Mr. A. Gonçalves Martins de Vasconcelos and Mr. J. P. Gonçalves Martins de Vasconcelos.

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Bi-Silque Visual Communication Products Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Audit Information

The auditor's report on the accounts of Bi-Silque Visual Communication Products Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Andrew Makin FCA (Senior Statutory Auditor) for and on behalf of Whitehead & Aldrich , Statutory Auditor.

Whitehead & Aldrich

Chartered Accountants

5 Ribblesdale Place

Preston

Lancashire

PR1 8BZ

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		312,943		313,148

			312,943		313,148
CURRENT ASSETS
Stocks	5	601,199		687,734
Debtors	6	364,816		373,261
Cash at bank and in hand		30,740		27,707

		996,755		1,088,702
Creditors: Amounts Falling Due Within One Year	7	(1,108,419 )		(1,179,074 )

NET CURRENT ASSETS (LIABILITIES)			(111,664 )		(90,372 )

TOTAL ASSETS LESS CURRENT LIABILITIES			201,279		222,776

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,200 )		-

NET ASSETS			200,079		222,776

CAPITAL AND RESERVES
Called up share capital	8		151,000		151,000
Profit and Loss Account			49,079		71,776

SHAREHOLDERS' FUNDS			200,079		222,776