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2021-01-01
Sage Accounts Production 2020 Update 1 - FRS102_2019
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1
2021-01-01
2021-12-31
Company registration number:
08148637
BRG Enterprise Solutions Limited
Unaudited filleted financial statements
31 December 2021
BRG Enterprise Solutions Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
BRG Enterprise Solutions Limited
Directors and other information
|
|
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|
Directors |
D Wildey |
|
|
D Harrop |
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Secretary |
J Lander |
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|
|
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Company number |
08148637 |
|
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|
|
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|
|
Registered office |
CP House |
|
|
97-107 Uxbridge Road |
|
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Ealing |
|
|
London |
|
|
W5 5TL |
|
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|
|
|
|
Accountants |
Leftley Rowe and Company |
|
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Second Floor |
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87 Kenton Road |
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Harrow |
|
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Middlesex |
|
|
HA3 0AH |
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|
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Bankers |
HSBC Bank Plc |
|
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60 Queen Victoria Street |
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London |
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EC4N 4TR |
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|
BRG Enterprise Solutions Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of BRG Enterprise Solutions Limited
Year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BRG Enterprise Solutions Limited for the year ended 31 December 2021 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of BRG Enterprise Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of BRG Enterprise Solutions Limited and state those matters that we have agreed to state to the board of directors of BRG Enterprise Solutions Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BRG Enterprise Solutions Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that BRG Enterprise Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BRG Enterprise Solutions Limited. You consider that BRG Enterprise Solutions Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of BRG Enterprise Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Leftley Rowe and Company
Chartered Accountants
Second Floor
87 Kenton Road
Harrow
Middlesex
HA3 0AH
5 July 2022
BRG Enterprise Solutions Limited
Statement of financial position
31 December 2021
|
|
|
2021 |
|
|
|
2020 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
- |
|
|
|
- |
|
|
Tangible assets |
|
6 |
456,628 |
|
|
|
470,652 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
456,628 |
|
|
|
470,652 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
7 |
553,334 |
|
|
|
723,264 |
|
|
Cash at bank and in hand |
|
|
1,065,677 |
|
|
|
410,983 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
1,619,011 |
|
|
|
1,134,247 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
819,774) |
|
|
|
(
675,983) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
799,237 |
|
|
|
458,264 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
1,255,865 |
|
|
|
928,916 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
9 |
|
|
(
81,512) |
|
|
|
(
83,025) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
1,174,353 |
|
|
|
845,891 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
10 |
|
|
1 |
|
|
|
1 |
Profit and loss account |
|
|
|
|
1,174,352 |
|
|
|
845,890 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
1,174,353 |
|
|
|
845,891 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
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|
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
05 July 2022
, and are signed on behalf of the board by:
D Harrop
Director
Company registration number:
08148637
BRG Enterprise Solutions Limited
Notes to the financial statements
Year ended 31 December 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is CP House, 97-107 Uxbridge Road, Ealing, London, W5 5TL.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Fittings fixtures and equipment |
- |
10-33% reducing balance |
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
32
(2020:
32
).
5.
Intangible assets
|
|
Other intangible assets |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 January 2021 and 31 December 2021 |
404,150 |
404,150 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 January 2021 and 31 December 2021 |
404,150 |
404,150 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 December 2021 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2020 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 January 2021 |
1,205,580 |
1,205,580 |
|
|
|
|
|
|
Additions |
50,723 |
50,723 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 December 2021 |
1,256,303 |
1,256,303 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 January 2021 |
734,928 |
734,928 |
|
|
|
|
|
|
Charge for the year |
64,747 |
64,747 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 December 2021 |
799,675 |
799,675 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 December 2021 |
456,628 |
456,628 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 December 2020 |
470,652 |
470,652 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
|
Trade debtors |
|
483,883 |
648,386 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
1,094 |
5,297 |
|
Other debtors |
|
68,357 |
69,581 |
|
|
|
_______ |
_______ |
|
|
|
553,334 |
723,264 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
|
Trade creditors |
|
115,207 |
116,379 |
|
Corporation tax |
|
162,335 |
13,516 |
|
Social security and other taxes |
|
34,997 |
28,957 |
|
Other creditors |
|
507,235 |
517,131 |
|
|
|
_______ |
_______ |
|
|
|
819,774 |
675,983 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Provisions
|
|
Deferred tax |
Total |
|
|
|
|
|
£ |
£ |
|
|
|
|
At 1 January 2021 |
83,025 |
83,025 |
|
|
|
|
Movement |
(
1,513) |
(
1,513) |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
At 31 December 2021 |
81,512 |
81,512 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
10.
Called up share capital
Issued, called up and fully paid
|
|
|
2021 |
|
|
|
2020 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
1 |
|
1 |
|
1 |
|
1 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
11.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Not later than 1 year |
62,399 |
62,399 |
Later than 1 year and not later than 5 years |
67,509 |
129,998 |
|
_______ |
_______ |
|
129,908 |
192,397 |
|
_______ |
_______ |
|
|
|
12.
Controlling party
As at the Balance Sheet date the parent undertaking is BRG Enterprise Solutions (Holdings) Limited, a company incorporated in England & Wales
.
13.
Covid-19
The UK has been impacted by the global Coronavirus Covid-19 pandemic from March 2020 until the lifting of all remaining restrictions in February 2022. The company has been able to maintain its services levels throughout the pandemic by fully utilising technology and adopting remote working practices for employees to operate.