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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2019 |
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BISN TEC LTD |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2019 |
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FOR |
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BISN TEC LTD |
BISN TEC LTD (REGISTERED NUMBER: 06661310) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st 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 | 3 |
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BISN TEC LTD |
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COMPANY INFORMATION |
for the Year Ended 31st December 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditors |
1 City Road East |
Manchester |
M15 4PN |
BISN TEC LTD (REGISTERED NUMBER: 06661310) |
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BALANCE SHEET |
31st December 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account 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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BISN TEC LTD (REGISTERED NUMBER: 06661310) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st December 2019 |
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1. | STATUTORY INFORMATION |
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BISN Tec Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 06661310. The address of the registered office and principal place of business is 713 Cavendish Avenue, Birchwood Park, Warrington WA1 1UH. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents amounts recognised by the company in respect of services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of management fees which are recognised at the point of which the services are provided. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Patents and licences will be amortised evenly over their estimated useful life of 10 years. |
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Financial instruments |
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds basic financial instruments, which comprise cash at bank and in hand, trade and other debtors, borrowings, and trade and other creditors. The company has chosen to apply the measurement and recognition provisions of Section 11 Basic Financial Instruments. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
BISN TEC LTD (REGISTERED NUMBER: 06661310) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
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Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
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Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1st January 2019 |
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Additions |
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At 31st December 2019 |
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AMORTISATION |
At 1st January 2019 |
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Charge for year |
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At 31st December 2019 |
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NET BOOK VALUE |
At 31st December 2019 |
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At 31st December 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
VAT |
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BISN TEC LTD (REGISTERED NUMBER: 06661310) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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VAT | - | 10,674 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party are the directors of the ultimate parent company by virtue of their controlling interest in the ultimate parent, BISN Holdings Limited. |
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The parent company of the largest and smallest group that includes the company and for which group financial statements are prepared is BISN Holdings Limted. Copies of BISN Holdings Limited financial statements can be obtained from the registered office at 713 Cavendish Avenue, Warrington, WA3 6DE. |