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 2021

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:

First Floor

Ridgeland House

15 Carfax

Horsham

West Sussex

RH12 1DY

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

6,928

14,320

CURRENT ASSETS

Stocks

5

193,606

113,949

Debtors

6

388,820

430,438

Cash at bank and in hand

47,309

103,427

629,735

647,814

CREDITORS

Amounts falling due within one year

7

520,041

586,024

NET CURRENT ASSETS

109,694

61,790

TOTAL ASSETS LESS CURRENT LIABILITIES

116,622

76,110

CAPITAL AND RESERVES

Called up share capital

9

10,000

10,000

Retained earnings

106,622

66,110

SHAREHOLDERS' FUNDS

116,622

76,110

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 26 April 2022 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 First Floor, Ridgeland House, 15 Carfax, Horsham, West Sussex, RH12 1DY. The principle place of business is Unit 19 Crawley Business Centre, Stephenson Way, Three Bridges, Crawley, West Sussex, RH10 1TN.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

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 in the prior year are management charges to cover administrative costs incurred by Bien-Air U K Limited. These are charged to the parent company based on a percentage of net annual costs. No management charges have been raised for the current financial year.

Tangible fixed assets

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

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.

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 £354,491. While the director expects to receive continuing support, he has been unable to obtain written assurances from Bien-Air Dental SA that they will support the company and therefore there is a risk that this debt could be called for immediate repayment. On this basis, 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, the company might be unable to realise its assets and discharge its liabilities in the normal course of business.

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.

The government grants accounting policy

Grants are accounted under the accruals model as permitted by FRS 102. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2021

53,964

3,981

19,735

77,680

Additions

498

2,189

-

2,687

At 31 December 2021

54,462

6,170

19,735

80,367

DEPRECIATION

At 1 January 2021

49,525

2,323

11,512

63,360

Charge for year

4,522

623

4,934

10,079

At 31 December 2021

54,047

2,946

16,446

73,439

NET BOOK VALUE

At 31 December 2021

415

3,224

3,289

6,928

At 31 December 2020

4,439

1,658

8,223

14,320

5.

STOCKS

31.12.21

31.12.20

£

£

Finished goods

193,606

113,949

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

360,914

211,890

Amounts owed by group undertakings

-

190,803

Other debtors

5,100

4,300

Prepayments and accrued income

22,806

23,445

388,820

430,438

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

25,938

6,652

Amounts owed to group undertakings

355,542

455,007

Social security and other taxes

4,211

3,944

VAT

59,947

40,344

Other creditors

270

-

Accrued expenses

74,133

80,077

520,041

586,024

8.	LEASING AGREEMENTS

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

31.12.21

31.12.20

£

£

Within one year

12,317

9,706

Between one and five years

30,981

23,424

In more than five years

1,550

6,629

44,848

39,759

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

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 £50,000 remuneration was paid to Mr V Mosimann (Director) (2020: £50,000). At the year end £50,000 is outstanding (2020: £50,000) to Mr V Mosimann.

The company has taken advantage of the exemption in Section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other wholly owned members of the group.

12.	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.