Bien-Air U K Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01698451 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

BIEN-AIR U K LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

V Mosimann

REGISTERED OFFICE:

Bailey House

4-10 Barttelot Road

Horsham

West Sussex

RH12 1DQ

REGISTERED NUMBER:

01698451 (England and Wales)

AUDITOR:

Kreston Reeves LLP

Chartered Accountants and Statutory Auditor

Springfield House

Springfield Road

Horsham

West Sussex

RH12 2RG

FIXED ASSETS

Tangible assets

4

44,013

35,722

CURRENT ASSETS

Stocks

5

98,891

96,474

Debtors

6

451,995

339,598

Cash at bank and in hand

95,503

109,334

646,389

545,406

CREDITORS

Amounts falling due within one year

7

637,385

530,048

NET CURRENT ASSETS

9,004

15,358

TOTAL ASSETS LESS CURRENT LIABILITIES

53,017

51,080

CAPITAL AND RESERVES

Called up share capital

9

10,000

10,000

Retained earnings

43,017

41,080

SHAREHOLDERS' FUNDS

53,017

51,080

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 December 2020 and were signed by:

V Mosimann - Director

1.	STATUTORY INFORMATION

Bien-Air U K Limited is a private company, limited by shares, domiciled in England and Wales, registration number 01698451. The registered office is Bailey House, 4-10 Barttelot Road, Horsham, West Sussex, RH12 1DQ.

2.	ACCOUNTING POLICIES

Going concern

The director has prepared the financial statements on a going concern basis. At the balance sheet date, the total amount due to Bien-Air Dental SA, the company's immediate parent company, was £470,331 and the company is dependent on the support of Bien-Air Dental SA to continue in operation. The company has received assurances from Bien-Air Dental SA that they will only require settlement of the amounts due to them to the extent that the company has sufficient funds to settle liabilities with parties external to the group. The period for which Bien-Air Dental SA will continue to provide this support to the company has not been confirmed. With the future impact of Coronavirus on the company, and the ability of Bien-Air Dental SA to continue to support the company, being uncertain, the director believes that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. If the going concern assumption proves to be inappropriate, then adjustments may have to be made to adjust the value of assets to their recoverable amounts, to provide for any further liabilities which might arise and reclassify fixed assets as current assets.

The financial statements are presented in Sterling (£), and rounded to the nearest £1.

Turnover

The company sells both goods and provides repair services, and the turnover shown in the income statement represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of the sale of goods, turnover is recognised when the goods are physically delivered to the customer, whereas in respect of the supply of repair services, the turnover is recorded at the value of the consideration due when repairs have been completed.

Included in turnover are management charges to cover administrative costs incurred by Bien-Air U K Limited. These are recharged to the parent company based on a percentage of net annual costs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Over the term of the lease

Plant and machinery

-

33% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Included in plant and machinery are items used for demonstration and temporary replacements for customers' equipment undergoing repair. These assets are depreciated at 33% on a straight line basis.

Stock

Stock has been valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments

Classification

Financial assets, liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Recognition and measurement

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments which meet the conditions set out by FRS 102 to be classified as basic financial instruments are subsequently measured at amortised cost using the effective interest method.

Debt instruments that have no stated interest rate (and do not constitute a financing transaction) and are classified as payable or receivable within one year are initially measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currency are translated into sterling at the monthly rate for that currency. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade debtors and creditors

Trade debtors are amounts due from customers for goods sold or services provided in the ordinary course of business.

Trade debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors with no stated interest rate and payable within one year are recorded at transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2019

-

223,774

4,961

19,735

248,470

Additions

24,505

-

1,853

-

26,358

Disposals

-

(129,137

)

-

-

(129,137

)

At 31 December 2019

24,505

94,637

6,814

19,735

145,691

DEPRECIATION

At 1 January 2019

-

206,848

4,255

1,645

212,748

Charge for year

5,347

7,400

387

4,933

18,067

Eliminated on disposal

-

(129,137

)

-

-

(129,137

)

At 31 December 2019

5,347

85,111

4,642

6,578

101,678

NET BOOK VALUE

At 31 December 2019

19,158

9,526

2,172

13,157

44,013

At 31 December 2018

-

16,926

706

18,090

35,722

5.

STOCKS

31.12.19

31.12.18

£

£

Finished goods

98,891

96,474

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

210,665

152,446

Amounts owed by group undertakings

164,800

153,811

Prepayments and accrued income

76,530

33,341

451,995

339,598

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

13,518

12,786

Amounts owed to group undertakings

472,850

421,978

Social security and other taxes

3,318

3,909

VAT

36,870

23,894

Accrued expenses

110,829

67,481

637,385

530,048

8.	LEASING AGREEMENTS

Total minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.19

31.12.18

£

£

Within one year

39,256

42,593

Between one and five years

16,320

59,571

55,576

102,164

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

10,000

Ordinary

£1

10,000

10,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

Graham Hunt BA FCA (Senior Statutory Auditor)

for and on behalf of Kreston Reeves LLP

11.	RELATED PARTY DISCLOSURES

During the year, the company purchased goods from the following group companies which amounted to:

31.12.19

31.12.18

£

£

Bien-Air Dental SA

804,769

579,628

Bien-Air Surgery SA

9,629

17,162

During the year, Bien-Air U K Limited recharged costs to the following group companies which amounted to:

31.12.19

31.12.18

£

£

Bien-Air Dental SA

164,800

342,396

At the year end the following balances were outstanding:

31.12.19

31.12.18

£

£

Bien-Air Dental SA (net balance)

(305,531

)

(260,338

)

Bien-Air Surgery SA

(2,519

)

(7,830

)

During the year no remuneration was paid to Mr V Mosimann (Director), although the company was charged £50,000 (2018: £50,000). At the year end £100,000 is outstanding (2018: £50,000) to Mr V Mosimann.

All of the above named companies are controlled by Mr V Mosimann.

12.	POST BALANCE SHEET EVENTS

Since the year end, the UK and the world has been impacted by the spread of the global Coronavirus pandemic. Coronavirus has caused significant economic uncertainty across the world and the total financial impact of the pandemic is still unknown. The director has prepared updated forecasts in light of the situation and these indicate that the company remains reliant on the continued support of its Bien-Air Dental SA (detailed in Note 2) to continue to trade as a going concern.

13.	ULTIMATE CONTROLLING PARTY AND PARENT COMPANY

The ultimate controlling party is Mr V Mosimann.

Bien-Air Holding SA is regarded by directors as being the company's ultimate parent company.

The address of the registered office and the principal place of business of Bien-Air Holding SA is Länggasse, 60 Case Postale, CH-2500, Bienne 6, Switzerland.