Acorah Software Products - Accounts Production 16.8.200 false true true 31 December 2023 1 January 2023 false 23 December 2025 1 January 2024 31 December 2024 31 December 2024 04657903 Mr Ferdinando Bada Mr Kishor Parmar Mr Kishor Parmar Ferdinando Bada true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04657903 2023-12-31 04657903 2024-12-31 04657903 2024-01-01 2024-12-31 04657903 frs-core:CurrentFinancialInstruments 2024-12-31 04657903 frs-core:Non-currentFinancialInstruments 2024-12-31 04657903 frs-core:BetweenOneFiveYears 2024-12-31 04657903 frs-core:ComputerEquipment 2024-12-31 04657903 frs-core:ComputerEquipment 2024-01-01 2024-12-31 04657903 frs-core:ComputerEquipment 2023-12-31 04657903 frs-core:FurnitureFittings 2024-12-31 04657903 frs-core:FurnitureFittings 2024-01-01 2024-12-31 04657903 frs-core:FurnitureFittings 2023-12-31 04657903 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 04657903 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 04657903 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 04657903 frs-core:MotorVehicles 2024-12-31 04657903 frs-core:MotorVehicles 2024-01-01 2024-12-31 04657903 frs-core:MotorVehicles 2023-12-31 04657903 frs-core:PlantMachinery 2024-12-31 04657903 frs-core:PlantMachinery 2024-01-01 2024-12-31 04657903 frs-core:PlantMachinery 2023-12-31 04657903 frs-core:WithinOneYear 2024-12-31 04657903 frs-core:OtherReservesSubtotal 2024-12-31 04657903 frs-core:ShareCapital 2024-12-31 04657903 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 04657903 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04657903 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 04657903 frs-bus:SmallEntities 2024-01-01 2024-12-31 04657903 frs-bus:Audited 2024-01-01 2024-12-31 04657903 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04657903 frs-bus:OrdinaryShareClass1 2024-01-01 2024-12-31 04657903 frs-bus:OrdinaryShareClass1 2024-12-31 04657903 1 2024-01-01 2024-12-31 04657903 frs-bus:Director1 2024-01-01 2024-12-31 04657903 frs-bus:Director2 2024-01-01 2024-12-31 04657903 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 04657903 frs-countries:EnglandWales 2024-01-01 2024-12-31 04657903 2022-12-31 04657903 2023-12-31 04657903 2023-01-01 2023-12-31 04657903 frs-core:CurrentFinancialInstruments 2023-12-31 04657903 frs-core:Non-currentFinancialInstruments 2023-12-31 04657903 frs-core:BetweenOneFiveYears 2023-12-31 04657903 frs-core:WithinOneYear 2023-12-31 04657903 frs-core:OtherReservesSubtotal 2023-12-31 04657903 frs-core:ShareCapital 2023-12-31 04657903 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04657903 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31
Registered number: 04657903
Bimecc UK Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 04657903
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 74,831 119,446
74,831 119,446
CURRENT ASSETS
Stocks 5 839,311 917,237
Debtors 6 797,504 631,107
Investments 7 1,000,000 1,000,000
Cash at bank and in hand 1,261,658 904,186
3,898,473 3,452,530
Creditors: Amounts Falling Due Within One Year 8 (791,216 ) (705,014 )
NET CURRENT ASSETS (LIABILITIES) 3,107,257 2,747,516
TOTAL ASSETS LESS CURRENT LIABILITIES 3,182,088 2,866,962
Creditors: Amounts Falling Due After More Than One Year 9 (52,171 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (18,708 ) (14,386 )
NET ASSETS 3,111,209 2,852,576
CAPITAL AND RESERVES
Called up share capital 11 100,000 100,000
Other reserves 35,434 35,434
Profit and Loss Account 2,975,775 2,717,142
SHAREHOLDERS' FUNDS 3,111,209 2,852,576
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the director and authorised for issue on 23 December 2025 and were signed on its behalf by:
Mr Kishor Parmar
Director
23/12/2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bimecc UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04657903 . The registered office is Wellington House 273-275 High Street, London Colney, St Albans, Hertfordshire, AL2 1HA.
The company's principal place of business is Unit 10 Handley Page Way, Old Parkbury Lane, Colney Street, St Albans, Herts, AL2 2DQ.
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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.The functional and presentation currency is British Pound Sterling (£). All the amounts in the financial statements have been rounded to the nearest pounds.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Key estamites in the year would be the provision of doubtful debts and provision for any slow moving stock.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be reasonable under the circumstances. Actual results may differ from these estimates.
The directors consider that there are no critical accounting judgements and no key sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
2.4. 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.
2.5. 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:
Leasehold 10% on cost
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.6. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. 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.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into functional currency 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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2.9. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. 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.
2.11. Trade Debtors
Trade debtors are initially recognised at transaction price and are measured subsequently at amortised cost, less any impairment losses.
2.12. Trade Creditors
Trade creditors are recognised at transaction price and measured subsequently at amortised cost.
2.13. Share Capital
Share capital is stated at the nominal value of shares issued and paid.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 6,160 4,137 134,953 24,592
Additions - - 81,040 -
Disposals - - (134,953 ) -
As at 31 December 2024 6,160 4,137 81,040 24,592
...CONTINUED
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Depreciation
As at 1 January 2024 1,232 2,807 22,166 24,191
Provided during the period 616 333 19,178 100
Disposals - - (29,525 ) -
As at 31 December 2024 1,848 3,140 11,819 24,291
Net Book Value
As at 31 December 2024 4,312 997 69,221 301
As at 1 January 2024 4,928 1,330 112,787 401
Computer Equipment Total
£ £
Cost
As at 1 January 2024 25,757 195,599
Additions - 81,040
Disposals - (134,953 )
As at 31 December 2024 25,757 141,686
Depreciation
As at 1 January 2024 25,757 76,153
Provided during the period - 20,227
Disposals - (29,525 )
As at 31 December 2024 25,757 66,855
Net Book Value
As at 31 December 2024 - 74,831
As at 1 January 2024 - 119,446
5. Stocks
2024 2023
£ £
Stock 839,311 917,237
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 644,112 515,780
Prepayments and accrued income 117,051 80,675
761,163 596,455
Due after more than one year
Other debtors 36,341 34,652
797,504 631,107
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7. Current Asset Investments
2024 2023
£ £
Unlisted investments 1,000,000 1,000,000
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,099 -
Trade creditors 27,357 23,186
Corporation tax 166,390 126,134
Other taxes and social security 11,891 14,064
VAT 131,417 102,101
Other creditors 821 782
Accruals and deferred income 59,129 55,518
Directors' loan accounts - 2,000
Amounts owed to group undertakings 386,112 381,229
791,216 705,014
Amount owed to group undertaking is unsecured, interest free and is repayable on demand.
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 52,171 -
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,099 -
Later than one year and not later than five years 52,171 -
60,270 -
60,270 -
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100,000 Ordinary Shares of £ 1.00 each 100,000 100,000
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12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 98,360 95,893
Later than one year and not later than five years 156,116 254,476
254,476 350,369
13. Reserves
The other reserves balance of £35,434 (2023: £35,434) relates to an amount previously payable to the parent company, Bifin S.p.A., which was waived by Bifin S.p.A. during FY2023.
14. Related Party Transactions
The company has taken advantage of the exemption under Section 1A of FRS 102 from disclosing details of transactions entered into with wholly owned subsidiaries and transactions with directors that are not material and have been entered into under normal market conditions.
15. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Bifin Spa . Bifin Spa is incorporated in Italy. The ultimate controlling party is Ferdinando Bada who controls 70% of the shares of Bifin Spa .
Bifin Spa is the parent of the smallest and largest group which the company's results are consolidated into. Its registered office is Mestrino (PD) Via IV Novembre 77 CAP 35035.
16. Charges
At the year end Companies House shows an exsisting charge on the comapny in respects of a rent deposit paid under the terms of its leasehold property.
17. Audit Information
The auditor's report on the accounts of Bimecc UK Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Kalbinder Sanghera (Senior Statutory Auditor) for and on behalf of KNAV Limited , Statutory Auditor.
KNAV Limited
Ground Floor, Hygeia Building
66-68 College Road
Harrow
Middlesex
HA1 1BE
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