REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 31 December 2023 |
for |
Building Services Group Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 31 December 2023 |
for |
Building Services Group Limited |
Building Services Group Limited (Registered number: 02205560) |
Contents of the Financial Statements |
for the Period 1 April 2023 to 31 December 2023 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 | to | 4 |
Notes to the Financial Statements | 5 | to | 8 |
Building Services Group Limited |
Company Information |
for the Period 1 April 2023 to 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 West Court |
Enterprise Road |
Maidstone |
Kent |
ME15 6JD |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Building Services Group Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Building Services Group Limited for the period ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Building Services Group Limited, as a body, in accordance with the terms of our engagement letter dated 29 April 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Building Services Group Limited and state those matters that we have agreed to state to the Board of Directors of Building Services Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Building Services Group Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Building Services Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Building Services Group Limited. You consider that Building Services Group Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Building Services Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
5 West Court |
Enterprise Road |
Maidstone |
Kent |
ME15 6JD |
Building Services Group Limited (Registered number: 02205560) |
Balance Sheet |
31 December 2023 |
2023 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Building Services Group Limited (Registered number: 02205560) |
Balance Sheet - continued |
31 December 2023 |
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 |
Building Services Group Limited (Registered number: 02205560) |
Notes to the Financial Statements |
for the Period 1 April 2023 to 31 December 2023 |
1. | STATUTORY INFORMATION |
Building Services Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing 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. |
Revenue is recognised in turnover on long-term contracts when the final outcome can be estimated reliably by reference to the stage of completion of the contract. |
Rental revenue received under operating leases is recognised on a straight line basis over the period of the lease. |
Tangible fixed assets |
Office equipment | - |
Taxation |
Taxation for the period 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 period 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs |
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. |
Building Services Group Limited (Registered number: 02205560) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Going concern |
The ultimate parent company has provided cashflow injections in the year along with the business maintaining an overdraft facility to assist in future financing should there be any further deterioration in the economy. |
At the time of approving the financial statements the company is forecasting an improved outturn against last year's accounts and the directors have reasonable expectations that the company has now turned a corner and that the company has adequate resources to continue based on a much improved secured pipeline and has taken and continues to take appropriate measures to continue to monitor its cost base against forecast income. The directors therefore deem it appropriate to prepare the financial statements on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Office |
equipment |
£ |
COST |
At 1 April 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 March 2023 |
5. | STOCKS |
2023 | 2023 |
£ | £ |
Work-in-progress long term contract balances | 10,000 | 25,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Building Services Group Limited (Registered number: 02205560) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 December 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
9. | LEASING AGREEMENTS |
At the year end the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £34,226 (March 2023 : £34,566). |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2023 |
£ | £ |
Bank overdraft |
Bank loans |
Bank loans and overdrafts are secured by way of a fixed and floating charge over all current and future assets of the business. |
11. | RELATED PARTY DISCLOSURES |
BSG Holdings Limited |
Included in debtors is £264,275 (March 2023 : £264,275) due from BSG Holdings Limited, the immediate parent company. The loan is interest free, unsecured and repayable on demand. |
Syntegra Consulting Ltd |
Included in trade creditors is £33,699 (March 2023 : £32,379) owed to the ultimate parent Syntegra Consulting Ltd. |
Included in trade debtors is £990 (March 2023 : £31,860) owed from the ultimate parent Syntegra Consulting Ltd. |
Included in creditors amounts falling due within one year is £17,431 (March 2023 : £45,000) owed to the ultimate parent Syntegra Consulting Ltd. The loan is interest free, unsecured and repayable on demand. |
Building Services Group Limited (Registered number: 02205560) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 December 2023 |
12. | ULTIMATE CONTROLLING PARTY |
The company's immediate controlling party is the parent company, BSG Holdings Limited, which owns 100% of the issued shared capital. |
The ultimate controlling party is A R Wing-King, who controls Syntegra Consulting Ltd, the ultimate parent company. |