GU249BJ_LTD - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

GU249BJ Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bisley Factory, Caswell Way, Reevesland Industrial Estate, Newport, South Wales, United Kingdom, NP19 4PW.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £'000.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 4 ‘Statement of Financial Position’ – Reconciliation of the opening and closing number of shares;

• Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Bisley Office Equipment Limited.These consolidated financial statements are available from its registered office, Bisley Factory, Caswell Way, Reevesland Industrial Estate, Newport, South Wales, NP19 4PW.

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

The average monthly number of persons (including directors) employed by the company during the year was:

In accordance with FRS 102 Section 33.1A, transactions with other group undertakings wholly owned within the Bisley Office Equipment Limited group have not been disclosed in the financial statements.

At the year end the company was owed £15,706,000 (20201: £15,706,000) by F. C. Brown (Steel Equipment) Limited, a group company. This amount is included within debtors falling due within one year.

At the year end the company was owed £51,000 (2021: £51,000) by Bisley Office Equipment Limited, its parent company. This amount is included within debtors falling due within one year.

The immediate and ultimate parent company is Bisley Office Equipment Limited, a company incorporated in the United Kingdom. This is also the parent undertaking of the only group which includes the company and for which group accounts are prepared. Copies of the group financial statements of Bisley Office Equipment Limited which consolidate the results of GU249BJ Limited are available from Companies House, Cardiff, CF14 3UZ.

The ultimate controlling party at 31 July 2022 was A C Brown.

In December 2022, the Bisley Office Equipment Group was converted into an employee ownership trust (EOT), as a result of the benevolent actions of its principal shareholder Mr A C Brown. Mr Brown remained the chairman of the company's parent company, Bisley Office Equipment Ltd, and was also the trustee chairman of the newly formed Bisley Employee Ownership Trust.

As noted in the group consolidated accounts, it is with great sadness that our Chairman, Mr A C Brown (OBE) passed away on the 4 April 2023.