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REGISTERED NUMBER: 07315330 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2023

FOR

BFG GROUNDWORKS & CONSTRUCTION LTD

BFG GROUNDWORKS & CONSTRUCTION LTD (REGISTERED NUMBER: 07315330)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BFG GROUNDWORKS & CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2023







DIRECTORS: T J Flashman
T P George





SECRETARIES: Ms J A Hook
Ms J Hook





REGISTERED OFFICE: Kernow
Heath Common
Church Stretton
Shropshire
SY6 7DZ





REGISTERED NUMBER: 07315330 (England and Wales)





ACCOUNTANTS: Stanton Ralph & Co Limited
Chartered Accountants
The Old Police Station
Whitburn Street
Bridgnorth
Shropshire
WV16 4QP

BFG GROUNDWORKS & CONSTRUCTION LTD (REGISTERED NUMBER: 07315330)

BALANCE SHEET
31ST AUGUST 2023

31.8.22 31.8.23
£    £    Notes £    £   
FIXED ASSETS
427,442 Tangible assets 4 437,847

CURRENT ASSETS
133,812 Stocks 133,812
188,185 Debtors 5 128,216
129,278 Cash at bank 335,237
451,275 597,265
CREDITORS
355,312 Amounts falling due within one year 6 529,828
95,963 NET CURRENT ASSETS 67,437
523,405 TOTAL ASSETS LESS CURRENT LIABILITIES 505,284

CREDITORS

(77,481

)
Amounts falling due after more than one
year

7

(46,515

)

(81,317 ) PROVISIONS FOR LIABILITIES (109,565 )
364,607 NET ASSETS 349,204

CAPITAL AND RESERVES
100 Called up share capital 100
364,507 Retained earnings 349,104
364,607 SHAREHOLDERS' FUNDS 349,204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BFG GROUNDWORKS & CONSTRUCTION LTD (REGISTERED NUMBER: 07315330)

BALANCE SHEET - continued
31ST AUGUST 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd January 2024 and were signed on its behalf by:




T J Flashman - Director



T P George - Director


BFG GROUNDWORKS & CONSTRUCTION LTD (REGISTERED NUMBER: 07315330)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023

1. STATUTORY INFORMATION

BFG Groundworks & Construction Ltd 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 Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

BFG GROUNDWORKS & CONSTRUCTION LTD (REGISTERED NUMBER: 07315330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

2. ACCOUNTING POLICIES - continued

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st September 2022 1,009,702
Additions 223,689
Disposals (152,850 )
At 31st August 2023 1,080,541
DEPRECIATION
At 1st September 2022 582,260
Charge for year 156,668
Eliminated on disposal (96,234 )
At 31st August 2023 642,694
NET BOOK VALUE
At 31st August 2023 437,847
At 31st August 2022 427,442

BFG GROUNDWORKS & CONSTRUCTION LTD (REGISTERED NUMBER: 07315330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st September 2022 431,011
Additions 34,995
Disposals (61,000 )
Transfer to ownership (68,950 )
At 31st August 2023 336,056
DEPRECIATION
At 1st September 2022 226,311
Charge for year 56,459
Eliminated on disposal (40,664 )
Transfer to ownership (70,500 )
At 31st August 2023 171,606
NET BOOK VALUE
At 31st August 2023 164,450
At 31st August 2022 204,700

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 111,177 124,391
Amounts owed by group undertakings - 45,000
Other debtors 17,039 18,794
128,216 188,185

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 6,718 9,814
Hire purchase contracts 40,145 63,928
Trade creditors 152,571 53,186
Taxation and social security 138,989 151,017
Other creditors 191,405 77,367
529,828 355,312

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts 46,515 77,481