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Unaudited Financial Statements |
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for the Year Ended 31 December 2019 |
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for |
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B. I. Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2019 |
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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 2019 |
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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 2019 |
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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 2019 |
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31.12.19 | 31.12.18 |
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: |
(a) | 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 2019 |
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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 and authorised for issue 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 2019 |
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1. | Statutory information |
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B. I. Limited is a
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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 2019 |
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4. | Tangible fixed assets |
Improvements |
Freehold | Long | to | Plant and |
property | leasehold | property | machinery |
£ | £ | £ | £ |
Cost |
At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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Depreciation |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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Net book value |
At 31 December 2019 |
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At 31 December 2018 |
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Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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Depreciation |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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Net book value |
At 31 December 2019 |
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At 31 December 2018 |
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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 2019 |
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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 2019 |
and 31 December 2019 |
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Depreciation |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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Net book value |
At 31 December 2019 |
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At 31 December 2018 |
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5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 January 2019 |
and 31 December 2019 |
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Net book value |
At 31 December 2019 |
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At 31 December 2018 |
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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 |
31.12.19 | 31.12.18 |
£ | £ |
Trade debtors |
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Other debtors |
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Other debtors include an amount of £325,085 (2018: £420,908) 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 2019 |
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7. | Creditors: amounts falling due within one year |
31.12.19 | 31.12.18 |
£ | £ |
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 |
31.12.19 | 31.12.18 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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9. | Related party disclosures |
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(a) | BI Limited hold the 100% issued share capital of BI (Europe) Limited. |
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i |
A management charge of £192,000 (2018: £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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Rent was received from BI (Europe) Limited in the amount of £408,000 (2018: £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 2019 was £325,085 (2018: £420,908). |
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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 2019 |
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10. | Post balance sheet events |
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(a) There was a group reorganisation whereby the investment properties were demerged from BI Ltd and following a share for share exchange BI Ltd became a subsidiary of Kamdak Limited. The company's new ultimate parent company and controlling party is Kamdak Limited, a company registered in England and Wales. |
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(b) The company's investment properties were transferred in the demerger as noted above to Mars 27 Limited, a company registered in England and Wales. |
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(c) Chandresh Dhutia resigned as a director following the demerger. |