IRIS Accounts Production v23.1.5.20 11814311 Board of Directors 31.3.23 1.4.22 31.3.23 31.3.23 work in the construction of bespoke and general property, to include work in connection with the insurance repair sector to include conservation projects and fire protection and diamond drilling. true true true false true true false false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure118143112022-03-31118143112023-03-31118143112022-04-012023-03-31118143112021-03-31118143112021-04-012022-03-31118143112022-03-3111814311ns16:EnglandWales2022-04-012023-03-3111814311ns15:PoundSterling2022-04-012023-03-3111814311ns11:Director12022-04-012023-03-3111814311ns11:Consolidated2023-03-3111814311ns11:ConsolidatedGroupCompanyAccounts2022-04-012023-03-3111814311ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3111814311ns11:FRS102ns11:Consolidated2022-04-012023-03-3111814311ns11:Auditedns11:Consolidated2022-04-012023-03-3111814311ns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-04-012023-03-3111814311ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-04-012023-03-3111814311ns11:Consolidatedns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-04-012023-03-3111814311ns11:LargeMedium-sizedCompaniesRegimeForAccountsns11:Consolidated2022-04-012023-03-3111814311ns11:FullAccounts2022-04-012023-03-3111814311ns6:Subsidiary12022-04-012023-03-311181431112022-04-012023-03-3111814311ns11:OrdinaryShareClass12022-04-012023-03-3111814311ns11:Consolidated2022-04-012023-03-3111814311ns11:Director22022-04-012023-03-3111814311ns11:Director32022-04-012023-03-3111814311ns11:RegisteredOffice2022-04-012023-03-3111814311ns11:Consolidated2021-04-012022-03-3111814311ns6:CurrentFinancialInstruments2023-03-3111814311ns6:CurrentFinancialInstruments2022-03-3111814311ns6:ShareCapital2023-03-3111814311ns6:ShareCapital2022-03-3111814311ns6:FurtherSpecificReserve2ComponentTotalEquity2023-03-3111814311ns6:FurtherSpecificReserve2ComponentTotalEquity2022-03-3111814311ns6:RetainedEarningsAccumulatedLosses2023-03-3111814311ns6:RetainedEarningsAccumulatedLosses2022-03-3111814311ns6:ShareCapital2021-03-3111814311ns6:RetainedEarningsAccumulatedLosses2021-03-3111814311ns6:FurtherSpecificReserve2ComponentTotalEquity2021-03-3111814311ns6:NetGoodwill2022-04-012023-03-3111814311ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3111814311ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-04-012023-03-3111814311ns6:PlantMachinery2022-04-012023-03-3111814311ns6:FurnitureFittings2022-04-012023-03-3111814311ns6:MotorVehicles2022-04-012023-03-3111814311ns6:ComputerEquipment2022-04-012023-03-3111814311ns6:CostValuation2022-03-31118143111ns6:Subsidiary12022-04-012023-03-3111814311ns6:Subsidiary12023-03-3111814311ns6:Subsidiary12022-03-3111814311ns6:Subsidiary12021-04-012022-03-3111814311ns11:OrdinaryShareClass12023-03-3111814311ns6:RetainedEarningsAccumulatedLosses2022-03-3111814311ns6:FurtherSpecificReserve2ComponentTotalEquity2022-03-3111814311ns6:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 11814311 (England and Wales)















Messenger BCR limited

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements

For The Year Ended 31st March 2023






Messenger BCR limited (Registered number: 11814311)






Contents of the Consolidated Financial Statements
For The Year Ended 31st March 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4 to 7

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15 to 28


Messenger BCR limited

Company Information
For The Year Ended 31st March 2023







DIRECTORS: P A Gibbons
Mrs J F MacDonald
Mrs H M Gibbons



REGISTERED OFFICE: Collyweston Heritage Centre
Main Road
Collyweston
Stamford
Lincolnshire
PE9 3PQ



REGISTERED NUMBER: 11814311 (England and Wales)



SENIOR STATUTORY AUDITOR: Paul Sparks FCA FCCA



AUDITORS: Cheney & Co
Statutory Auditor
310 Wellingborough Road
Northampton
NN1 4EP

Messenger BCR limited (Registered number: 11814311)

Group Strategic Report
For The Year Ended 31st March 2023

The directors present their strategic report of the company and the group for the year ended 31st March 2023.

REVIEW OF BUSINESS
Unfortunately, the increase in turnover for the group did not lead to an increase in net profits, predominantly due to the inflationary pressures felt by the longer-term contracts, resulting in smaller net margins. Secured turnover and the pipeline of quality projects is strong, leading to an expectation of similar turnover for the coming 12 months, with an improvement to margins. Debt liabilities continue to reduce as we pay down the property loan and 'Covid' loan, increasing the strength of the group as a whole.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors are not aware of any specific fundamental risks and uncertainties with regards to the current trading activities, they are aware of the higher demand for skilled workforce, increased material prices and bespoke services within the industry. However, the strength of the group's overall reputation for quality and excellent service, along with its large direct workforce, helps to mitigate the risk in forward trading.

KEY PERFORMANCE INDICATORS
The other key performance indicators are:-



2023 2022 2021 2020
Turnover (£ 000`s) 31,021 27,411 26,031 29,753

Gross Profit (£ 000's) 4,959 4,994 4,587 4,475

Gross Profit Percentage 15.99% 18.22% 17.62% 15.07%

Net Profit Percentage 1.96% 2.17% 2.90% 1.87%

Liquidity ratio 120.22% 115.31% 107.90% 107.73%

Debtor days 79 82 80 79

Trading ratio 0.17% 0.27% 0.10% 0.06%

Gearing 13.21% 16.58% 15.84% 12.19%

FUTURE DEVELOPMENTS
The directors are happy with the expected growth and development for the future and have taken steps to extend the service base and expand current customers winning some prestigious contracts for the forth coming years

ON BEHALF OF THE BOARD:





P A Gibbons - Director


29th September 2023

Messenger BCR limited (Registered number: 11814311)

Report of the Directors
For The Year Ended 31st March 2023

The directors present their report with the financial statements of the company and the group for the year ended 31st March 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31st March 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2022 to the date of this report.

P A Gibbons
Mrs J F MacDonald
Mrs H M Gibbons

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Cheney & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P A Gibbons - Director


29th September 2023

Report of the Independent Auditors to the Members of
Messenger BCR limited

Opinion
We have audited the financial statements of Messenger BCR limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31st March 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Messenger BCR limited


Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Messenger BCR limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatements due to fraud or error; and to respond appropriately to those risks.

Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We obtained an understanding of the legal and regulatory frameworks applicable to the company and its subsidiaries as well as the sectors in which they operate. We determine that the following laws and regulations were most significant: the Companies Act 2006, UK taxation laws, UK GAAP and health & safety legislation applicable to the construction industry.

We obtained an understanding of how the company and its subsidiaries are complying with those legal and regulatory frameworks by making inquiries of management.

We have discussed with management the specific risk to the company of the liabilities arising from disputes relating to work undertaken by the company and its subsidiaries, leading to legal liabilities, and have concluded that this risk is small. There has been nothing that has come to light and no instances of legal action against the company and the group in this regard.

The major critical judgement in relation to the group's consolidated financial statements is the valuation of the applications for payment, and provisions against these amounts, which are a components of the balance sheet items of trade debtors, or trade creditors as accrued or deferred income, as appropriate, and also reflected in the turnover figure within the income statement.

We have undertaken high levels of testing of balances included in the balance sheet and have performed a detailed analytical review of the income statement.

Prior to commencement of the audit staff were briefed on the risk assessment of the susceptibility company's financial statements to material misstatement, including how fraud could occur.

At the completion stage of the audit the results of audit tests were re-examined to ensure that they were consistent with our knowledge of the client and did not warrant further investigation of transactions and balances.

We have assessed the susceptibility of the financial statements of the company and its subsidiaries to material misstatement, including how fraud might occur. Audit procedures performed for the company's accounts and its subsidiaries included:

- identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
- understanding how those charged with governance considered and addressed the potential for the override of controls or other inappropriate influence over the financial reporting process;
- challenging assumptions and judgements made by the management in its significant accounting estimates;
- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and
- assessing the extent of the compliance with the relevant laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Messenger BCR limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul Sparks FCA FCCA (Senior Statutory Auditor)
for and on behalf of Cheney & Co
Statutory Auditor
310 Wellingborough Road
Northampton
NN1 4EP

29th September 2023

Messenger BCR limited (Registered number: 11814311)

Consolidated
Income Statement
For The Year Ended 31st March 2023

2023 2022
Notes £    £   

TURNOVER 3 31,020,828 27,411,908

Cost of sales (26,062,119 ) (22,417,079 )
GROSS PROFIT 4,958,709 4,994,829

Administrative expenses (4,275,107 ) (4,364,389 )
683,602 630,440

Other operating income - 8,139
OPERATING PROFIT 5 683,602 638,579


Interest payable and similar expenses 6 (76,948 ) (44,916 )
PROFIT BEFORE TAXATION 606,654 593,663

Tax on profit 7 (128,536 ) (135,481 )
PROFIT FOR THE FINANCIAL YEAR 478,118 458,182
Profit attributable to:
Owners of the parent 478,118 458,182

Messenger BCR limited (Registered number: 11814311)

Consolidated
Other Comprehensive Income
For The Year Ended 31st March 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 478,118 458,182


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

478,118

458,182

Total comprehensive income attributable to:
Owners of the parent 478,118 458,182

Messenger BCR limited (Registered number: 11814311)

Consolidated Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 2,028,934 2,148,282
Tangible assets 10 1,991,774 2,023,749
Investments 11 - -
4,020,708 4,172,031

CURRENT ASSETS
Stocks 12 45,600 60,332
Debtors 13 7,180,747 6,633,455
Cash at bank and in hand 858,210 369,895
8,084,557 7,063,682
CREDITORS
Amounts falling due within one year 14 6,725,056 6,125,493
NET CURRENT ASSETS 1,359,501 938,189
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,380,209

5,110,220

CREDITORS
Amounts falling due after more than one
year

15

(1,238,327

)

(1,453,650

)

PROVISIONS FOR LIABILITIES 19 (141,950 ) (134,756 )
NET ASSETS 3,999,932 3,521,814

CAPITAL AND RESERVES
Called up share capital 20 1,100 1,100
Merger reserve 21 1,999,000 1,999,000
Retained earnings 21 1,999,832 1,521,714
SHAREHOLDERS' FUNDS 3,999,932 3,521,814

The financial statements were approved by the Board of Directors and authorised for issue on 29th September 2023 and were signed on its behalf by:





P A Gibbons - Director


Messenger BCR limited (Registered number: 11814311)

Company Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 3,333,333 3,333,333
3,333,333 3,333,333

CREDITORS
Amounts falling due within one year 14 1,083,333 1,083,333
NET CURRENT LIABILITIES (1,083,333 ) (1,083,333 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,250,000

2,250,000

CAPITAL AND RESERVES
Called up share capital 20 1,000 1,000
Merger reserve 21 1,999,000 1,999,000
Retained earnings 21 250,000 250,000
SHAREHOLDERS' FUNDS 2,250,000 2,250,000

Company's profit for the financial year - -

The financial statements were approved by the Board of Directors and authorised for issue on 29th September 2023 and were signed on its behalf by:





P A Gibbons - Director


Messenger BCR limited (Registered number: 11814311)

Consolidated Statement of Changes in Equity
For The Year Ended 31st March 2023

Called up
share Retained Merger
capital earnings reserve
£    £    £   

Balance at 1st April 2021 1,000 1,063,532 1,999,000

Changes in equity
Issue of share capital 100 - -
Total comprehensive income - 458,182 -
Balance at 31st March 2022 1,100 1,521,714 1,999,000

Changes in equity
Total comprehensive income - 478,118 -
Balance at 31st March 2023 1,100 1,999,832 1,999,000
Non-controlling Total
Total interests equity
£    £    £   

Balance at 1st April 2021 3,063,532 - 3,063,532

Changes in equity
Issue of share capital 100 - 100
Total comprehensive income 458,182 - 458,182
Balance at 31st March 2022 3,521,814 - 3,521,814

Changes in equity
Total comprehensive income 478,118 - 478,118
Balance at 31st March 2023 3,999,932 - 3,999,932

Messenger BCR limited (Registered number: 11814311)

Company Statement of Changes in Equity
For The Year Ended 31st March 2023

Called up
share Retained Merger Total
capital earnings reserve equity
£    £    £    £   

Balance at 1st April 2021 1,000 250,000 1,999,000 2,250,000

Changes in equity
Balance at 31st March 2022 1,000 250,000 1,999,000 2,250,000

Changes in equity
Balance at 31st March 2023 1,000 250,000 1,999,000 2,250,000

Messenger BCR limited (Registered number: 11814311)

Consolidated Cash Flow Statement
For The Year Ended 31st March 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 26 1,029,981 (670,449 )
Interest paid (59,322 ) (25,291 )
Interest element of hire purchase and
finance lease rental payments paid

(17,626

)

(19,625

)
Tax paid (85,633 ) (157,065 )
Net cash from operating activities 867,400 (872,430 )

Cash flows from investing activities
Purchase of tangible fixed assets (166,055 ) (249,646 )
Sale of tangible fixed assets 13,010 10,020
Net cash from investing activities (153,045 ) (239,626 )

Cash flows from financing activities
New loans in year 49,680 200,000
Loan repayments in year (271,992 ) (66,093 )
New finance leases in the year 60,683 -
Finance lease repayments in the year (73,274 ) (92,797 )
Capital repayments in year 8,654 -
Amount withdrawn by directors 209 (3,074 )
Share issue - 100
Net cash from financing activities (226,040 ) 38,136

Increase/(decrease) in cash and cash equivalents 488,315 (1,073,920 )
Cash and cash equivalents at beginning
of year

27

369,895

1,443,815

Cash and cash equivalents at end of year 27 858,210 369,895

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements
For The Year Ended 31st March 2023

1. STATUTORY INFORMATION

Messenger BCR limited 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 General Information page.

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


The principal activity of the company in the year under review was that of a holding company.

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires the directors to exercise judgement in the process of applying the company`s accounting policies. The areas involving a higher degree of judgement or complexity or areas where assumptions and estimates are significant to the financial statements are disclosed under critical accounting judgements and key sources of estimation uncertainty below.

The significant accounting policies applied in the preparation of these financial statements are set out below.These policies have been consistently applied to all years presented unless otherwise stated.

Critical accounting judgements and key sources of estimation uncertainty
The company makes estimates and assumptions concerning the future. The directors are also required to exercise judgement in the process of applying the company`s accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

In preparing these financial statements , the directors have made the following judgements:

Recognition of profit on long - term contracts
Profit recognition is based on an assessment of the overall profitability forecast on individual contracts. Losses are recognised as soon as they are foreseen. Profits are recognised by the directors when the outcome of the contract can be assessed within reasonable certainty.The profit recognised reflects that part of the total profit currently estimated to arise over the duration of the contract that fairly represents the profit attributable to work performed at the accounting date.

Recoverability of trade and other debtors
Trade and other debtors are recognised to the extent that they are judged recoverable. The directors reviews are performed to estimate the level of reserves required for irrecoverable debt. Provisions are made specifically against invoices where recoverability is uncertain.

The directors make allowances for doubtful debts based on an assessment of the recoverability of debtors.Allowances are applied to debtors where events or changes in circumstances indicate that the carrying amounts may not be recoverable. The directors specifically analyse historical bad debts, customer creditworthiness , current economic trends and changes in customer payment terms when making a judgement to evaluate the adequacy of the provision for doubtful debts. Where the expectation is different from the original estimate, such a difference will impact the carrying value of debtors and the charge in the profit and loss account.

Provisions
A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material , provisions are determined by discounting the expected future cash flow that reflects the time value of money and the risks specific to the liability.

Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ, the directors`s judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

Leasing
The company determines whether leases entered into are an operating or a finance lease. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the company on a lease by lease basis based on an evaluation of the terms and conditions of the arrangements , and accordingly whether the lease requires an asset and liability to be recognised in the balance sheet.

Depreciation, amortisation and residual values
The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and have concluded that asset lives and residual values are appropriate.

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.Residual value assessments consider issues such as future market conditions , the remaining life of the asset and projected disposal values.

Taxation
There are many transactions and calculations for which the ultimate tax determination is uncertain. The company recognizes liabilities for anticipated tax issues based on estimates of whether additional taxes will be due.

The directors estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover arises from increases in valuations on contracts and is the gross value of work carried out for the period to the balance sheet date, including contract variations and claims.

Variations in contract work are only included to the extent that it is probable that they will result in revenue and that they are capable of being reliably measured.

Where the total income of a contract cannot be estimated reliably, contract revenue is recognised to the extent that it is probable contract costs will be recovered.

Profit on contracts is calculated in accordance with the accounting standards and industry practice. Profit recognition is based on an assessment of the overall profitability forecast on individual contracts and is recognised when the outcome of the contract can be assessed with reasonable certainty. The profit recognised reflects that part of the total profit currently estimated to arise over the duration of the contract that fairly represents the profit attributable to work performed at the balance sheet date. The assessment of the final outcome of each contract is determined by regular review of the revenues and costs to complete that contract.

Provisions are made for losses incurred or foreseen in bringing the contract to completion as soon as they become apparent.

Basis of consolidation
The financial statements have been consolidated based on provision included with FRS102.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the group in the year to 31st March 2020, is being amortised over estimated useful life of 20 years and reviewed for impairment annually, however, the directors consider that there is no reduction in the value in the year of acquisition.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - in accordance with the property
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost and at varying rates on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Long-term contracts
Amounts recoverable on long term contracts represents the gross unbilled amounts for contract work performed to date. They are measured at cost plus profit recognised to date (see turnover accounting policy) less a provision for foreseeable losses and less progress billings

Amounts recoverable on contracts is presented in debtors as part of the amounts recoverable on contracts in the balance sheet. If payments received from customers exceed the income recognised, then the difference is presented in payments on account included within creditors on the balance sheet.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2023 2022
£    £   
Construction contracts 22,475,780 27,411,908
Building repairs 8,545,048 -
31,020,828 27,411,908

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 4,247,457 4,346,080
Social security costs 318,639 279,184
Other pension costs 139,212 154,450
4,705,308 4,779,714

The average number of employees during the year was as follows:
2023 2022

Directors 10 3
Head Office & Site 93 88
103 91

The average number of employees by undertakings that were proportionately consolidated during the year was 103 (2022 - 91 ) .

2023 2022
£    £   
Directors' remuneration 173,468 196,000
Directors' pension contributions to money purchase schemes 40,292 40,403

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 3

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 507,252 544,331
Other operating leases 32,216 29,460
Depreciation - owned assets 89,830 102,336
Depreciation - assets on hire purchase contracts and finance leases 96,286 93,839
(Profit)/loss on disposal of fixed assets (1,096 ) 4,394
Goodwill amortisation 119,348 119,348
Auditors' remuneration 17,750 17,700

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 59,322 25,291
Hire purchase 479 -
Leasing 17,147 19,625
76,948 44,916

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 121,342 85,725

Deferred tax 7,194 49,756
Tax on profit 128,536 135,481

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 2,386,978
AMORTISATION
At 1st April 2022 238,696
Amortisation for year 119,348
At 31st March 2023 358,044
NET BOOK VALUE
At 31st March 2023 2,028,934
At 31st March 2022 2,148,282

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st April 2022 1,632,190 302,480 174,069
Additions - 66,698 8,449
Disposals - - -
At 31st March 2023 1,632,190 369,178 182,518
DEPRECIATION
At 1st April 2022 87,184 173,680 140,167
Charge for year 29,644 54,471 16,652
Eliminated on disposal - - -
At 31st March 2023 116,828 228,151 156,819
NET BOOK VALUE
At 31st March 2023 1,515,362 141,027 25,699
At 31st March 2022 1,545,006 128,800 33,902

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2022 506,326 32,060 2,647,125
Additions 76,166 14,742 166,055
Disposals (101,666 ) - (101,666 )
At 31st March 2023 480,826 46,802 2,711,514
DEPRECIATION
At 1st April 2022 203,772 18,573 623,376
Charge for year 75,678 9,671 186,116
Eliminated on disposal (89,752 ) - (89,752 )
At 31st March 2023 189,698 28,244 719,740
NET BOOK VALUE
At 31st March 2023 291,128 18,558 1,991,774
At 31st March 2022 302,554 13,487 2,023,749

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

10. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st April 2022 6,204 439,031 445,235
Additions 55,200 76,166 131,366
Disposals - (87,916 ) (87,916 )
At 31st March 2023 61,404 427,281 488,685
DEPRECIATION
At 1st April 2022 1,551 198,081 199,632
Charge for year 15,351 80,935 96,286
Eliminated on disposal - (65,855 ) (65,855 )
At 31st March 2023 16,902 213,161 230,063
NET BOOK VALUE
At 31st March 2023 44,502 214,120 258,622
At 31st March 2022 4,653 240,950 245,603

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st April 2022
and 31st March 2023 3,333,333
NET BOOK VALUE
At 31st March 2023 3,333,333
At 31st March 2022 3,333,333

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Messenger BCR Group limited
Registered office:
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 1,163,614 1,117,906
Profit for the year 45,708 318,055

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

11. FIXED ASSET INVESTMENTS - continued

Messenger Construction Limited
Registered office:
Nature of business: Construction and building repairs
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 3,194,956 2,717,986
Profit for the year 476,970 579,217

Messenger Building Repairs Limited
Registered office:
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 1,200 1,200

Messenger Conservation
Registered office:
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 60.00
2023 2022
£    £   
Aggregate capital and reserves 100 100

Messenger Special Projects Limited
Registered office:
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 1 1

Messenger F.D.D. Limited
Registered office:
Nature of business: Fire Protection and Diamond Drilling
%
Class of shares: holding
Ordinary 100.00
2023 31.3.22
£    £   
Aggregate capital and reserves (580,671 ) (655,460 )
Profit/(loss) for the year 74,789 (159,697 )


Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

12. STOCKS

Group
2023 2022
£    £   
Stocks 45,600 60,332

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2023 2022
£    £   
Trade debtors 1,576,188 1,830,958
Amounts recoverable on long term contracts 5,158,143 4,338,850
Other debtors 418,244 452,405
Prepayments and accrued income 28,172 11,242
7,180,747 6,633,455

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 16) 269,158 273,560 - -
Hire purchase contracts and finance leases (see note 17)
91,779

135,392

-

-
Trade creditors 2,746,600 2,480,627 - -
Amounts owed to group undertakings - - 1,011,687 711,687
Tax 121,434 85,725 - -
Social security and other taxes 286,376 321,351 - -
VAT 900,390 625,757 - -
Other creditors 507,951 876,767 71,646 371,646
Credit facilities 187,484 215,784 - -
Directors' current accounts 257 48 - -
Accrued expenses 1,613,627 1,110,482 - -
6,725,056 6,125,493 1,083,333 1,083,333

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2023 2022
£    £   
Bank loans (see note 16) 1,072,549 1,340,139
Hire purchase contracts and finance leases (see note 17)
165,778

113,511
1,238,327 1,453,650

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

16. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 269,158 273,560
Amounts falling due between one and two years:
Bank loans - 1-2 years 269,158 273,515
Amounts falling due between two and five years:
Bank loans - 2-5 years 367,475 620,778
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 435,916 445,846

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts Finance leases
2023 2022 2023 2022
£    £    £    £   
Net obligations repayable:
Within one year 14,488 2,068 77,291 133,324
Between one and five years 34,865 3,475 130,913 110,036
49,353 5,543 208,204 243,360

18. SECURED DEBTS

The following secured debts are included within creditors:

Group
2023 2022
£    £   
Bank loans 1,341,707 1,613,699

19. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 141,950 134,756

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

19. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1st April 2022 134,756
Provided during year 7,194
Balance at 31st March 2023 141,950

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

21. RESERVES

Group
Retained Merger
earnings reserve Totals
£    £    £   

At 1st April 2022 1,521,714 1,999,000 3,520,714
Profit for the year 478,118 - 478,118
At 31st March 2023 1,999,832 1,999,000 3,998,832

Company
Retained Merger
earnings reserve Totals
£    £    £   

At 1st April 2022 250,000 1,999,000 2,249,000
Profit for the year - - -
At 31st March 2023 250,000 1,999,000 2,249,000


22. CONTINGENT LIABILITIES

One of the companies within the group, has in the normal course of business, given guarantees for £947,094 (2022 - £1,338,665) which are outstanding at 31st March 2023, in respect of bonds issued by a third party, securing the performance of various construction contracts of the company.

23. CAPITAL COMMITMENTS

There were no capital commitments as at 31st March 2023 or at 31st March 2022.

24. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
2023 2022
£    £   
Sales 46,917 4,695
Purchases 143,626 218,117
Amount due to related party - 16,016

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023

Other related parties

Included in other debtors is a loan due from a related party for £409,511. The loan is repayable on demand and attracts interest at the market rate.

25. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are Mr & Mrs P Gibbons.

26. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 606,654 593,663
Depreciation charges 305,464 311,377
(Profit)/loss on disposal of fixed assets (1,096 ) 4,394
Government grants - (8,139 )
Finance costs 76,948 44,916
987,970 946,211
Decrease/(increase) in stocks 14,732 (39,332 )
Increase in trade and other debtors (547,292 ) (461,410 )
Increase/(decrease) in trade and other creditors 574,571 (1,115,918 )
Cash generated from operations 1,029,981 (670,449 )

27. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 858,210 369,895
Year ended 31st March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 369,895 1,443,815


28. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.22 Cash flow At 31.3.23
£    £    £   
Net cash
Cash at bank and in hand 369,895 488,315 858,210
369,895 488,315 858,210
Debt
Hire purchase and finance leases (248,903 ) (8,654 ) (257,557 )
Debts falling due within 1 year (273,560 ) 4,402 (269,158 )
Debts falling due after 1 year (1,340,139 ) 267,590 (1,072,549 )
(1,862,602 ) 263,338 (1,599,264 )
Total (1,492,707 ) 751,653 (741,054 )

Messenger BCR limited (Registered number: 11814311)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 31st March 2023


29. PERSONAL GUARANTEES

Performance bonds outstanding as at 31st March 2023 for the sum of £709,112 have personal guarantees from the directors , P.A.Gibbons and Mrs H.M.Gibbons.

30. NON-CONTROLLING INTERESTS

The minority interest represents value attributable to the shares not wholly owned in the group for Messenger Conservation Limited.