BISLEY_TWO_LIMITED - Accounts
BISLEY_TWO_LIMITED - Accounts
Bisley Two Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bisley Factory Caswell Way, Reevesland Industrial Estate, Newport, NP19 4PW.
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.
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 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
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 average monthly number of persons (including directors) employed by the company during the year was:
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
At the year end the company was owed £9,000 (2021: £9,000) by F. C. Brown (Steel Equipment) Limited, a group company. This is included within amounts owed by group undertakings due within one year.
At the year end the company owed £1,421,000 (2021: £1,421,000) to Bisley Office Equipment Limited, the ultimate parent company. This is included within amounts owed to group undertakings due within one year.
The immediate parent company is Bisley Innovation Limited and the 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 for which group accounts are prepared which include the company. Copies of the group financial statements of Bisley Office Equipment Limited which consolidate the results of Bisley Two 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.