Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-302022-05-01falseNo description of principal activity272268truefalse 01892133 2022-05-01 2023-04-30 01892133 2021-05-01 2022-04-30 01892133 2023-04-30 01892133 2022-04-30 01892133 c:Exceptional 2022-05-01 2023-04-30 01892133 c:Exceptional 2021-05-01 2022-04-30 01892133 d:CompanySecretary1 2022-05-01 2023-04-30 01892133 d:Director2 2022-05-01 2023-04-30 01892133 d:Director3 2022-05-01 2023-04-30 01892133 d:Director4 2022-05-01 2023-04-30 01892133 d:Director5 2022-05-01 2023-04-30 01892133 d:Director6 2022-05-01 2023-04-30 01892133 d:Director7 2022-05-01 2023-04-30 01892133 d:Director8 2022-05-01 2023-04-30 01892133 d:Director9 2022-05-01 2023-04-30 01892133 d:RegisteredOffice 2022-05-01 2023-04-30 01892133 c:Buildings 2022-05-01 2023-04-30 01892133 c:Buildings 2023-04-30 01892133 c:Buildings 2022-04-30 01892133 c:Buildings c:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01892133 c:Buildings c:LeasedAssetsHeldAsLessee 2022-05-01 2023-04-30 01892133 c:PlantMachinery 2022-05-01 2023-04-30 01892133 c:PlantMachinery 2023-04-30 01892133 c:PlantMachinery 2022-04-30 01892133 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01892133 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2022-05-01 2023-04-30 01892133 c:MotorVehicles 2022-05-01 2023-04-30 01892133 c:MotorVehicles 2023-04-30 01892133 c:MotorVehicles 2022-04-30 01892133 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01892133 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2022-05-01 2023-04-30 01892133 c:OfficeEquipment 2022-05-01 2023-04-30 01892133 c:OfficeEquipment 2023-04-30 01892133 c:OfficeEquipment 2022-04-30 01892133 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01892133 c:OfficeEquipment c:LeasedAssetsHeldAsLessee 2022-05-01 2023-04-30 01892133 c:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01892133 c:LeasedAssetsHeldAsLessee 2022-05-01 2023-04-30 01892133 c:CurrentFinancialInstruments 2023-04-30 01892133 c:CurrentFinancialInstruments 2022-04-30 01892133 c:Non-currentFinancialInstruments 2023-04-30 01892133 c:Non-currentFinancialInstruments 2022-04-30 01892133 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 01892133 c:CurrentFinancialInstruments c:WithinOneYear 2022-04-30 01892133 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-30 01892133 c:Non-currentFinancialInstruments c:AfterOneYear 2022-04-30 01892133 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-04-30 01892133 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-04-30 01892133 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-04-30 01892133 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-04-30 01892133 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-04-30 01892133 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2022-04-30 01892133 c:ShareCapital 2023-04-30 01892133 c:ShareCapital 2022-04-30 01892133 c:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 01892133 c:RetainedEarningsAccumulatedLosses 2023-04-30 01892133 c:RetainedEarningsAccumulatedLosses 2021-05-01 2022-04-30 01892133 c:RetainedEarningsAccumulatedLosses 2022-04-30 01892133 c:RetainedEarningsAccumulatedLosses 2021-05-01 01892133 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-30 01892133 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-04-30 01892133 d:OrdinaryShareClass1 2022-05-01 2023-04-30 01892133 d:OrdinaryShareClass1 2023-04-30 01892133 d:OrdinaryShareClass1 2022-04-30 01892133 d:FRS102 2022-05-01 2023-04-30 01892133 d:Audited 2022-05-01 2023-04-30 01892133 d:FullAccounts 2022-05-01 2023-04-30 01892133 d:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 01892133 c:Subsidiary1 2022-05-01 2023-04-30 01892133 c:Subsidiary1 1 2022-05-01 2023-04-30 01892133 c:Subsidiary2 2022-05-01 2023-04-30 01892133 c:Subsidiary2 1 2022-05-01 2023-04-30 01892133 c:WithinOneYear 2023-04-30 01892133 c:WithinOneYear 2022-04-30 01892133 c:BetweenOneFiveYears 2023-04-30 01892133 c:BetweenOneFiveYears 2022-04-30 01892133 c:HirePurchaseContracts c:WithinOneYear 2023-04-30 01892133 c:HirePurchaseContracts c:WithinOneYear 2022-04-30 01892133 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-04-30 01892133 c:HirePurchaseContracts c:BetweenOneFiveYears 2022-04-30 01892133 4 2022-05-01 2023-04-30 01892133 6 2022-05-01 2023-04-30 01892133 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2023-04-30 01892133 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2022-04-30 01892133 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-04-30 01892133 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2022-04-30 01892133 c:LeasedAssetsHeldAsLessee 2023-04-30 01892133 c:LeasedAssetsHeldAsLessee 2022-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01892133









BROWN AND MASON GROUP LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

 
BROWN AND MASON GROUP LIMITED
 
 
COMPANY INFORMATION


Directors
N T Brown 
L F A Brown 
R W Brown 
J A Payton 
C E Buckingham 
A Hadden 
A G Collinson 
A M Morris 




Company secretary
L A Hadden



Company number
01892133



Registered office
Anson House
Schooner Court

Crossways Business Park

Dartford

Kent

DA2 6QQ




Auditor
Barnes Roffe LLP
Chartered Accountants

Statutory Auditor

Leytonstone House

Leytonstone

London

E11 1GA





 
BROWN AND MASON GROUP LIMITED
 

CONTENTS



Page
Strategic report
 
1 - 3
Directors' report
 
4 - 5
Independent auditor's report
 
6 - 9
Statement of income and retained earnings
 
10
Balance sheet
 
11
Notes to the financial statements
 
12 - 26


 
BROWN AND MASON GROUP LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2023

Business review
 
Emerging from the devastating impact caused by the coronavirus pandemic across the global economy and the Company over the previous financial years and then facing the challenging climate as a result of the war in Ukraine, the results for financial year 2023 are a testament to the decisive action taken by the directors and key management to adapt to the challenges faced, to control overheads, to safeguard staff members and to ensure the business has continued to deliver outstanding service levels to its customers.

The financial key performance indicators below underline a successful trading period and demonstrate that the Company has risen to the task in hand by maintaining strong working relationships with its key customers and suppliers.

Principal risks and uncertainties
 
From a financial perspective, the directors have always maintained appropriate banking facilities to ensure that the Company can manage fluctuations in working capital requirements and continue to invest in plant and machinery to successfully tender, win, and complete large high-profile contracts.
The directors recognise that it is important for the Company’s customers to be confident of the financial strength and integrity of the Company.
Risk from customer debt is low, in-line with the Company’s client base and quality standards. Forward contracts are used to de-risk from price fluctuations where appropriate.
The Company also has no significant concentration of supply risk, with exposure adequately spread over several suppliers. As part of the Company’s Quality Management System, all subcontractors and suppliers are required to submit specific information to enable routine review of the Company’s approved subcontractors and suppliers list.
Operating risks are managed via a combination of strong internal controls and external accreditations as detailed above.
Financial assets and business risks are also suitably covered by relevant insurance policies. This provides assurance to both the Company and its customers.
Risk management
The company adopts a measured approach in identifying and managing its financial and business risks.
The directors recognise that the specialist sector and competitive environment in which the company operates require that management maintains an active and direct involvement in the assessment and running of the key operational priorities:

health, safety & environment (via our “Integrated Management Systems”), the Company seeks to achieve its primary objectives of zero accidents, incidents, environmental or otherwise;
staff training (via continuous general and specific training programmes and efforts to obtain full CSCS certification), to work safely, employing and demonstrating a professional, efficient, competent and fully trained workforce;
compliance with industry standards and regulations (as demonstrated by various accreditations and maintained via internal quality control system and regular external audits);
to continue as one of the leading demolition/dismantling contractors and steadily increase upon market share;
to ensure that projects are completed within the stated contract duration and stated contract budget;
to maintain repeat business as 'preferred' contract to major client base.
 
Page 1

 
BROWN AND MASON GROUP LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023


Financial key performance indicators
The directors are pleased to report an underlying profit for the year of £0.5m (2022 - £1.96m) which demonstrates the Company’s continuing ability to secure and fulfil large demolition contracts in the UK and underlining its position as a market leader.
The directors will continue to manage costs and resources effectively and prudently on its multi-year contracts, the results of which are expected to be reflected in improved margins in future years.
The Company has continued to strengthen its balance sheet from £12.3m to £12.8m during the year and ensure it has adequate cash flow facilities to continue investing in new plant allowing it to target further growth in revenues in financial year 2024.
 

Directors' statement of compliance with duty to promote the success of the Company
 
The directors of the Company have a legal responsibility under section 172 of the Companies Act 2006 to act in the way we consider, in good faith, would be most likely to promote the Company’s success for the benefit of its members as a whole, and to have regard to the long-term effect of our decisions on the Company and its stakeholders and in doing so must have regard to the following:

the likely consequences of any decision in the long term;
the interests of the Company’s employees;
the need to foster the Company’s business relationships with suppliers, customers and others;
the impact of the Company’s operations on the community and the environment;
the desirability of the Company maintaining a reputation for high standards of business conduct; and
the need to act fairly between members of the Company.

Our key stakeholders, and the ways in which we engage with them, are as follows:
Employment policy
The Company does not discriminate against anyone on any grounds. The sole criterion for selection or promotion is the suitability of the person for the job. It is the policy of the Company to provide employment to people irrespective of sex, age, religion or disability whenever the demands of the Company and the abilities of the individual will allow. Appropriate levels of training and development are available for all levels and categories of staff.
Customers and suppliers
The Company is aware that our customers and suppliers are an important part of our success. We strive to build long standing, sustainable relationships with both to ensure mutual benefit, and always aim to be honest and transparent in line with our Company culture. Our conduct guarantees that we treat all customers and suppliers fairly. All suppliers are paid to terms with any queries being dealt with as a matter of urgency to ensure the supply chain continues uninterrupted.
Environment
The Company is registered with National Quality Assurance (NQA), a leading assessment, verification and certification body in quality, environment and health & safety management. The Company operates an integrated management system which complies with the three recognised standards of BS EN ISO9001, ISO14001 and ISO45001.
 
Page 2

 
BROWN AND MASON GROUP LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023

Standards of Business Conduct
The Company is committed to conducting its business with the highest integrity and compliance with the law and has standards in place which must be adhered to by everyone who represents the Company.
These standards embody the fundamental principles that govern our ethical and legal obligations and not only comply with the Company's policies but also with applicable laws and regulations.
Outlook
The fragile state of the UK and global economy as we emerge from the coronavirus pandemic, together with the long-term effects of Brexit on trade within the EU and further afield, pressure on labour rates, significant increases in energy costs as a result of the war in Ukraine, the fluctuating value of Sterling against the US dollar and unprecedented inflationary pressures across all cost centres, inevitably provides future economic uncertainty for the Company.

Management continues to take decisive action to manage and adapt to an ever-changing situation and, ultimately, have delivered operational efficiencies which place the business on strong footings that ensure it is well-positioned to capitalise on future opportunities.

The Company has strong commercial and strategic relationships with its key trading partners in ferrous and nonferrous scrap and continues to target improving efficiencies across every area of operations and maximise economies of scale as it grows revenue streams.
                                                                      
The Company’s pipeline of projects remains strong on the back of further contract wins during and after the year and the directors anticipate further contract wins over the next 12 months. This demonstrates the Company’s ability to meet its customers’ requirements, to complete projects to their agreed timetable and programme, safely, competently and efficiently. It is also an endorsement of the Company’s operational capabilities.
The directors would like to take this opportunity to thank its staff, customers, and business partners for their continued support throughout the period.

This report was approved by the board on 2 February 2024 and signed on its behalf.



................................................
A M Morris
Director

Page 3

 
BROWN AND MASON GROUP LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2023

The directors present their report and the financial statements for the year ended 30 April 2023.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, the directors' report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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 transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £518,178 (2022 - £1,960,744).

The directors do not recommend the payment of a final dividend.

Directors

The directors who served during the year were:

N T Brown 
L F A Brown 
R W Brown 
J A Payton 
C E Buckingham 
A Hadden 

Page 4

 
BROWN AND MASON GROUP LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023

Further information

In February 2022, the Company (as economic successor to Brown and Mason Limited) admitted participation in two infringements of competition law (in 2013 and 2014) following an investigation by the Competition and Markets Authority (CMA) into suspected anti-competitive tendering practices (cover bidding and compensation payments) on the part of 10 companies (across 19 projects) in the demolition sector.  
Having settled the case (involving the imposition of a reduced fine), the CMA notified the Company’s then managing director, Mr Nicholas Brown, that it was continuing to pursue disqualification proceedings against him in view of his role in and responsibility for the infringements.  Mr Brown subsequently offered (and the CMA accepted) a competition disqualification undertaking (CDU) for a (reduced) period of 7 years with effect from 28 July 2023, however, the effect of Mr Brown’s CDU was, in practice, suspended in respect of the Company, and its parent NRLB Limited, pending an application by Mr Brown (under section 17 of the Company Directors Disqualification Act 1986) for permission to act as a director of, and be involved in the management of, those two companies only (the Company and NRLB Limited).  
Interim permission was granted by the Court to Mr Brown to act, subject to stringent conditions, pending the handing down of judgment following the full hearing of Mr Brown’s application, which concluded on 10 October 2023, which is awaited. A copy of the Interim Order (and the CDU) setting out further information on this matter can be accessed on the Company’s website (as well as the CMA’s website) via the following link:  
 https://brownandmason .com/commitment/competition -law-compliance/

The Company is absolutely committed to driving better industry practices applying the CMA's guidance to encourage and enable competition law-compliant behaviours within the Company and within our industry. We have welcomed a non-executive director responsible for compliance to our board and ensured that best practice is constantly being adhered to and our systems and processes are rigorously reviewed, together with ensuring appropriate training in competition law for all relevant staff. The reputation of the Company and the trust and confidence of those with whom it deals are among its most vital resources, and the protection of these is of fundamental importance.

This report was approved by the board on 2 February 2024 and signed on its behalf.
 





................................................
A M Morris
Director

Page 5

 
BROWN AND MASON GROUP LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWN AND MASON GROUP LIMITED
 

Opinion


We have audited the financial statements of Brown and Mason Group Limited (the 'Company') for the year ended 30 April 2023, which comprise the statement of income and retained earnings, the balance sheet and the related notes, including a summary of significant accounting policiesThe 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 Company's affairs as at 30 April 2023 and of its 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.


Emphasis of matter


We draw attention to the Further information section of the Directors’ report of these financial statements, which details disqualification proceedings against a director of the Company, the pending application of that director for permission to act as a director of the Company and the interim permission granted by the Court for that director to act pending judgement, which is awaited. Our opinion is not modified in respect of this matter.


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 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.


Page 6

 
BROWN AND MASON GROUP LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWN AND MASON GROUP LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and  our auditor's report thereon.  The directors are responsible for the other information contained within the Annual Report.  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. 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 course of 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.


Opinion 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 strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report 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 Company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the 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.


Responsibilities of directors
 

As explained more fully in the directors' responsibilities statement set out on page 4, 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 is 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 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 Company or to cease operations, or have no realistic alternative but to do so.


Page 7

 
BROWN AND MASON GROUP LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWN AND MASON GROUP LIMITED (CONTINUED)


Auditor's 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 an auditor's report 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows: 
 
The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations
We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector;
The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows;
°Companies Act 2006
°FRS102
°ISO standards
°Health and Safety legislation
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and inspecting legal correspondence; and
Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified.

We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
 
Making enquires of management as to where they consider there was susceptibility to fraud, their knowledge of actual suspected and alleged fraud;
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
Reviewing the financial statements and testing the disclosures against supporting documentation;
Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
Inspecting and testing journal entries to identify unusual or unexpected transactions;
Assessing whether judgements and assumptions made in determining significant accounting estimates, including stock obsolescence, depreciation and bad debt provision were indicative of management bias; and
Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.
 
Page 8

 
BROWN AND MASON GROUP LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWN AND MASON GROUP LIMITED (CONTINUED)


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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 auditor's report.


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 2006Our 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 an auditor's report 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.





Andrew Barnes (Senior Statutory Auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants
Statutory Auditor
Leytonstone House
Leytonstone
London
E11 1GA

2 February 2024
Page 9

 
BROWN AND MASON GROUP LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 APRIL 2023

2023
2022
£
£

  

Turnover
  
50,019,824
51,268,595

Cost of sales
  
(40,697,498)
(40,842,130)

Gross profit
  
9,322,326
10,426,465

Administrative expenses
  
(8,445,914)
(8,028,830)

Exceptional administrative expenses
 11 
-
(200,000)

Other operating income
  
5,888
44,295

Operating profit
 4 
882,300
2,241,930

Interest payable and similar charges
 8 
(364,122)
(281,186)

Profit before tax
  
518,178
1,960,744

Tax on profit
 9 
-
-

Profit after tax
  
518,178
1,960,744

  

  

Retained earnings at the beginning of the year
  
1,153,709
1,042,965

Profit for the year
  
518,178
1,960,744

Dividends declared and paid
  
-
(1,850,000)

Retained earnings at the end of the year
  
1,671,887
1,153,709
The notes on pages 12 to 26 form part of these financial statements.

Page 10

 
BROWN AND MASON GROUP LIMITED
REGISTERED NUMBER: 01892133

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2023
2022
2022
                                                                           Note
£
£
£
£

Fixed assets
  

Tangible assets
 12 
22,997,004
22,488,756

Investments
 13 
72,000
72,000

  
23,069,004
22,560,756

Current assets
  

Stocks
 14 
38,540,634
30,060,325

Debtors: amounts falling due within one year
 15 
7,394,059
3,935,543

Cash at bank and in hand
  
4,835,510
3,504,011

  
50,770,203
37,499,879

Creditors: amounts falling due within one year
 16 
(17,072,260)
(23,667,849)

Net current assets
  
 
 
33,697,943
 
 
13,832,030

Total assets less current liabilities
  
56,766,947
36,392,786

Creditors: amounts falling due after more than one year
 17 
(41,645,060)
(21,789,077)

Provisions for liabilities
  

Other provisions
 20 
(2,350,000)
(2,350,000)

Net assets
  
12,771,887
12,253,709


Capital and reserves
  

Called up share capital 
 21 
11,100,000
11,100,000

Profit and loss account
 22 
1,671,887
1,153,709

  
12,771,887
12,253,709


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 February 2024.



................................................
A M Morris
Director

The notes on pages 12 to 26 form part of these financial statements.

Page 11

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Brown and Mason Group Limited ("the Company") is a Company limited by shares, incorporated in England and Wales. Its registered office is Anson House, Schooner Court, Crossways Business Park, Dartford, Kent, DA2 6QQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of NRLB Limited and these financial statements may be obtained from its registered office.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company continues to adopt the going concern basis in preparing its financial statements.

Page 12

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the Statement of income and retained earnings turnover and related costs as contract activity progresses. Revenue is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
Where contracts consist of demolition services and the extraction of scrap, they are treated as one for the purpose of accounting for long term contracts as they are, in effect, part of a single project with an overall profit margin. The scrap arising from the demolition work in reaching that stage of completion is taken to revenue on delivery. Any potential loss on a long-term demolition contract is provided in full as soon as it is foreseen.
In order to apply the above policy, the contracts are reviewed at the end of the year to determine the estimated costs to completion, the future sales value of the contracts and the estimated revenues to be earned on the sale of scrap.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following annual bases:

Freehold property
-
2% straight line on buildings
Plant and machinery
-
10% straight line
Motor vehicles
-
20% straight line
Office equipment
-
5% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 13

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Stocks

Stocks represent work in progress in relation to scrap arising from demolition work. This is released to the statement of income and retained earnings over the term of the contract in accordance with the stage of completion. 
At each balance sheet date, work in progress is assessed for impairment and any impairment loss is recognised immediately in the statement of income and retained earnings.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 14

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

 
2.11

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

 
2.12

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.13

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 15

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.15

Operating leases: the Company as lessee

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

 
2.16

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.17

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.18

Borrowing costs

All borrowing costs are recognised in the statement of income and retained earnings in the year in which they are incurred.

 
2.19

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

Page 16

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.20

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.21

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

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.
Determining the stage of completion on contracts requires the assessment of future costs to complete and the probability that the economic benefits will flow to the entity so that revenue can be measured reliably with reasonable certainty. In order to apply the above assessment, the directors will review the contracts at the end of the year and make estimates and assumptions based on historic experience and expected outcomes. This consideration will impact upon revenue, profits and the valuation of stock of scrap.
The annual depreciation charge for tangible fixed assets is sensitive to changes in estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 10 for the carrying amount of the property, plant and equipment, and note 2.3 for useful economic lives for each class of asset. 

Page 17

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Operating profit

The operating profit is stated after charging:

2023
2022
£
£

Depreciation of tangible fixed assets
2,392,082
1,990,361

Loss on sale of tangible fixed assets
8,406
78,169

Exchange differences
(10,264)
19,107

Other operating lease rentals
2,197,028
3,244,734


5.


Auditor's remuneration

During the year, the Company obtained the following services from the Company's auditor and its associates:


2023
2022
£
£

Fees payable to the Company's auditor and its associates for the audit of the Company's financial statements
15,000
15,000

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.


6.


Employees

2023
£
2022
£

Wages and salaries
7,988,666
9,507,156

Social security costs
908,405
1,043,781

Cost of defined contribution scheme
183,377
213,641

9,080,448
10,764,578


The average monthly number of employees, including directors, during the year was 272 (2022 - 268).

Page 18

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
1,021,388
1,004,750

Company contributions to defined contribution pension schemes
27,256
36,699

1,048,644
1,041,449


The highest paid director received remuneration of £457,099 (2022 - £323,224).


8.


Interest payable and similar charges

2023
2022
£
£


Bank interest payable
39,258
60,627

Finance leases and hire purchase contracts
324,864
220,559

364,122
281,186


9.


Taxation


2023
2022
£
£



Total current tax
-
-
Page 19

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
 
9.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2022 - lower than) the standard rate of corporation tax in the UK of 19% (2022 -19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
518,178
1,960,744


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2022 - 19%)
98,454
372,541

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
62,876
99,315

Capital allowances for year in excess of depreciation
(622,780)
(275,502)

Utilisation of tax losses
-
(196,354)

Deferred tax asset movement not provided
364,147
-

Effect of tax rate changes
97,303
-

Total tax charge for the year
-
-

The company has taxable losses to carry forward against future taxable profits of £7,031,581 (2022 - £4,455,374).


Factors that may affect future tax charges

There was a corporation tax rate increase from 1 April 2023 from 19% to 25%, as enacted in the legislation.


10.


Dividends

2023
2022
£
£


Dividends paid
-
1,850,000


11.


Exceptional items

2023
2022
£
£


Regulatory fine and associated legal costs
-
200,000
Page 20

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

12.


Tangible fixed assets





Land and buildings
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost


At 1 May 2022
3,695,000
21,670,145
1,305,585
-
26,670,730


Additions
-
3,826,457
361,090
60,646
4,248,193


Disposals
-
(1,786,529)
(38,654)
-
(1,825,183)



At 30 April 2023

3,695,000
23,710,073
1,628,021
60,646
29,093,740



Depreciation


At 1 May 2022
44,094
3,673,808
464,072
-
4,181,974


Charge for the year on owned assets
22,037
1,237,274
225,375
6,786
1,491,472


Charge for the year on financed assets
-
861,416
39,194
-
900,610


Disposals
-
(464,968)
(12,352)
-
(477,320)



At 30 April 2023

66,131
5,307,530
716,289
6,786
6,096,736



Net book value



At 30 April 2023
3,628,869
18,402,543
911,732
53,860
22,997,004



At 30 April 2022
3,650,906
17,996,337
841,513
-
22,488,756

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£


Plant and machinery
9,266,155
9,369,052

Motor vehicles
318,410
116,014

9,584,565
9,485,066

Page 21

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

13.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2022
72,000



At 30 April 2023
72,000





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

T&B Investments Limited
Ordinary
100%
Alf Brown's (Transport) Limited
Ordinary
100%


14.


Stocks

2023
2022
£
£

Work in progress
38,540,634
30,060,325



15.


Debtors

2023
2022
£
£


Trade debtors
3,015,007
2,338,667

Amounts owed by group undertakings
3,015,084
892,909

Other debtors
392,608
86,083

Prepayments and accrued income
281,013
288,993

Amounts recoverable on long term contracts
690,347
328,891

7,394,059
3,935,543


Page 22

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

16.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
196,289
202,893

Trade creditors
6,238,648
5,618,740

Other taxation and social security
1,131,822
839,403

Obligations under finance lease and hire purchase contracts
1,846,012
1,603,661

Other creditors
789,934
144,557

Accruals and deferred income
6,869,555
15,258,595

17,072,260
23,667,849


Other creditors includes interest on a loan of £647,456 (2022 - £1,791,945 due after more than 1 year) secured by means of a legal fixed charge over all land and intellectual property owned by the Company.


17.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
947,701
1,093,633

Net obligations under finance leases and hire purchase contracts
3,330,478
1,845,444

Other creditors
-
1,791,945

Accruals and deferred income
37,366,881
17,058,055

41,645,060
21,789,077


Secured loans
The bank loan of £1,143,990 (2022 - £1,296,526) is secured by means of a legal charge over three properties held by the company and any assets located at these properties.

Page 23

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

18.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
196,289
202,893

Amounts falling due 1-2 years

Bank loans
189,684
196,289

Amounts falling due 2-5 years

Bank loans
529,424
549,238

Amounts falling due after more than 5 years

Bank loans
228,593
348,106

1,143,990
1,296,526



19.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
1,846,012
1,603,661

Between 1-5 years
3,330,478
1,845,444

5,176,490
3,449,105

Page 24

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

20.


Provisions





Regulatory fine and associated legal costs

£





At 1 May 2022
2,350,000



At 30 April 2023
2,350,000

The Company has addressed a civil regulatory matter relating to historic issues which arose under a separate legal entity for which the Company is considered to be the economic successor. The Company has fully cooperated with the matter and has subsequently reached a settlement pursuant to which a payment will be made in due course.


21.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



11,100,000 (2022 - 11,100,000) Ordinary shares of £1.00 each
11,100,000
11,100,000



22.


Reserves

Profit and loss account

The profit and loss account represents cumulative distributable profits and losses net of dividends and foreign exchange differences.


23.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £183,377 (2022 - £213,641). Contributions totalling £29,683 (2022 - £27,064) were payable to the fund at the balance sheet date and are included in creditors. 

Page 25

 
BROWN AND MASON GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

24.


Commitments under operating leases

At 30 April 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
256,477
362,387

Later than 1 year and not later than 5 years
254,174
499,427

510,651
861,814


25.


Related party transactions

The Company has taken the exemption available under FRS 102 Section 33 'Related party transactions' not to dislclose inter-group information.


26.


Controlling party

The ultimate parent company is NRLB Limited, a company registered in England and Wales. Its registered office is Anson House, Schooner Court, Crossways Business Park, Dartford, Kent, DA2 6QQ. The Company is controlled by N T Brown.
The Company is included in the consolidated accounts prepared by NRLB Limited, and copies of those accounts can be obtained from Companies House.

 
Page 26