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Unaudited Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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B. I. Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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B. I. Limited |
B. I. Limited (Registered number: 01680161) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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B. I. Limited |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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B. I. Limited (Registered number: 01680161) |
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Balance Sheet |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Investments | 5 |
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Current assets |
Debtors | 6 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 7 |
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Net current liabilities | ( |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
8 |
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Net assets |
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Capital and reserves |
Called up share capital |
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Retained earnings |
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Shareholders' funds |
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The directors acknowledge their responsibilities for: |
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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. |
B. I. Limited (Registered number: 01680161) |
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Balance Sheet - continued |
31 December 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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B. I. Limited (Registered number: 01680161) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | Statutory information |
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B. I. Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Tangible fixed assets |
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Freehold property | - |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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3. | Employees and directors |
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The average number of employees during the year was
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B. I. Limited (Registered number: 01680161) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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4. | Tangible fixed assets |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
Cost |
At 1 January 2018 |
and 31 December 2018 |
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Depreciation |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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Net book value |
At 31 December 2018 |
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At 31 December 2017 |
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Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 January 2018 |
and 31 December 2018 |
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Depreciation |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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Net book value |
At 31 December 2018 |
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At 31 December 2017 |
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B. I. Limited (Registered number: 01680161) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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4. | Tangible fixed assets - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 January 2018 |
and 31 December 2018 |
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Depreciation |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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Net book value |
At 31 December 2018 |
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At 31 December 2017 |
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5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 January 2018 |
and 31 December 2018 |
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Net book value |
At 31 December 2018 |
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At 31 December 2017 |
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BI Limited hold the 100% issued share capital of BI (Europe) Limited. |
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6. | Debtors: amounts falling due within one year |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
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Other debtors |
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Other debtors include an amount of £420,908 (2017: £560,057) which is due from BI (Europe) Limited. |
B. I. Limited (Registered number: 01680161) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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7. | Creditors: amounts falling due within one year |
31.12.18 | 31.12.17 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | Creditors: amounts falling due after more than one year |
31.12.18 | 31.12.17 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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9. | Related party disclosures |
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(a) |
During the year the company paid £NIL (2017: £18,000) to Bhatia Industries Limited in respect of rent
for the property leased by the company. The directors of BI Limited hold 100% of the issued share capital in Bhatia Industries Limited. |
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The total amount of loans from Bhatia Industries Limited as at 31st December 2018 was £NIL (2017: |
£1,000). |
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(b) | BI Limited hold the 100% issued share capital of BI (Europe) Limited. |
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A management charge of £192,000 was received from BI (Europe) Limited for the service provided in
the year. The charge represented management time, use of the fixed assets, under writing financial commitments by the company to the bank and other support provided by BI Limited. |
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ii |
Rent was received from BI (Europe) Limited in the amount of £408,000 (2017: £408,000) for the use of
the freehold properties and plant & machinery owned by BI Limited. The rent charged was considered to be the open market value based on normal commercial terms. |
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iii | The amount owed from BI (Europe) Limited as at 31 December 2018 was £420,908 (2017: £560,057). |
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(c) |
C K International FZC is an entity incorporated in Sharjah, UAE and the entire share capital is held
equally by the two directors of BI Limited. |
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The total amount of loans from C K International FZC as at 31st December 2018 was £831,197 (2017: |
£831,197). This is included in the other creditors. |