Bisset Holdings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11863605 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

BISSET HOLDINGS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P M Bisset

H J Bisset

D J G Bisset

D G Bisset

REGISTERED OFFICE:

Old Station Road

Loughton

Essex

IG10 4PL

REGISTERED NUMBER:

11863605 (England and Wales)

ACCOUNTANTS:

Haslers

Chartered Accountants

Old Station Road

Loughton

Essex

IG10 4PL

FIXED ASSETS

Investments

4

2,025,325

2,025,325

CURRENT ASSETS

Cash at bank

5,590

5,779

CREDITORS

Amounts falling due within one year

5

157,404

57,404

NET CURRENT LIABILITIES

(151,814

)

(51,625

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,873,511

1,973,700

CREDITORS

Amounts falling due after more than one year

6

1,700,000

1,800,000

NET ASSETS

173,511

173,700

CAPITAL AND RESERVES

Called up share capital

8,700

8,700

Retained earnings

7

164,811

165,000

SHAREHOLDERS' FUNDS

173,511

173,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 19 August 2021 and were signed on its behalf by:

D G Bisset - Director

1.	STATUTORY INFORMATION

Bisset Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2020

and 31 March 2021

2,025,325

NET BOOK VALUE

At 31 March 2021

2,025,325

At 31 March 2020

2,025,325

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts owed to group undertakings

57,404

57,404

Loan notes less than one year

100,000

-

157,404

57,404

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Loan notes over one year

1,700,000

1,800,000

7.

RESERVES

Retained

earnings

£

At 1 April 2020

165,000

Profit for the year

67,811

Dividends

(68,000

)

At 31 March 2021

164,811

8.	CONTINGENT LIABILITIES

Bank guarantees have been given by the company to secure all liabilities of other companies in the group.

9.	CREDITORS FALLING DUE AFTER MORE THAN ONE YEAR

Creditors falling due after one year are represented by unsecured Loan Notes which are to be redeemed when group profitability allows over the period to November 2038 in favour of D.G.Bisset (DGB). A reconstruction of the Enfield Holdings Ltd group was completed in April 2019 under which Bisset Holdings Limited acquired a majority interest in the group through the purchase of DGB's shares, thereby passing ownership to the next generation of family members.