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REGISTERED NUMBER: 02559444 (England and Wales)









Report of the Directors and

Unaudited Consolidated Financial Statements

for the Year Ended 31 October 2023

for

THE BIRD GROUP OF COMPANIES LIMITED

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Contents of the Consolidated Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Consolidated Income Statement 4

Consolidated Other Comprehensive Income 5

Consolidated Balance Sheet 6

Company Balance Sheet 8

Consolidated Statement of Changes in Equity 10

Company Statement of Changes in Equity 11

Notes to the Consolidated Financial Statements 12


THE BIRD GROUP OF COMPANIES LIMITED

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: A P M Bird OBE
A N Bird
S A Baker
J M Palmer
B F Bird
R C A Palmer
J H Elliott
K D Lawley





SECRETARY: J H Elliott





REGISTERED OFFICE: The Hunting Lodge
Billesley Road
Upper Billesley
Stratford Upon Avon
Warwickshire
CV37 9RA





REGISTERED NUMBER: 02559444 (England and Wales)





ACCOUNTANTS: Haines Watts (Western) Limited
Chartered Accountants
Bath House
6 - 8 Bath Street
Bristol
BS1 6HL

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Report of the Directors
FOR THE YEAR ENDED 31 OCTOBER 2023


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

PRINCIPAL ACTIVITY
The principal activity of the Company and the Group during the year was property development, rentals and disposals. The Group also manufactures and distributes horticultural and allied products.

REVIEW OF BUSINESS
There have not been any significant changes in the Group's principal activities in the year under review. The directors are not aware, at the date of this report, of any likely major changes in the Group's principal activities in the forthcoming financial year.

The Group has continued to develop its property portfolio, both by securing planning permissions and by securing new lease arrangements with tenants. The Group is ready to achieve further gains in 2024, such that the gearing will be reduced.

The Group's key performance measurements are rental income and property valuations. During the year the Group received rental income of £1,360,331 (2022: £1,232,989). The investment property portfolio was valued at 31 October 2023 at £16,864,117 (2022: £17,012,000). The directors have considered the value of the properties to be the value at the year end date which included considerations based on latest yields, occupancy rates and lease terms in place.

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

A P M Bird OBE
A N Bird
S A Baker
J M Palmer
B F Bird
R C A Palmer
J H Elliott
K D Lawley

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S A Baker - Director


31 July 2024

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Bird Group of Companies Limited



In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Bird Group of Companies Limited for the year ended 31 October 2023 which comprise the Profit and Loss account, Balance Sheet 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 directors of The Bird Group of Companies Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Bird Group of Companies Limited and state those matters that we have agreed to state to the directors of The Bird Group of Companies Limited 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 The Bird Group of Companies Limited and its directors for our work or for this report.

It is your duty to ensure that The Bird Group of Companies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Bird Group of Companies Limited. You consider that The Bird Group of Companies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Bird Group of Companies Limited. For this reason, we do not express any opinion on the statutory financial statements.






Haines Watts (Western) Limited
Chartered Accountants
Bath House
6 - 8 Bath Street
Bristol
BS1 6HL


31 July 2024

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Consolidated Income Statement
FOR THE YEAR ENDED 31 OCTOBER 2023

2023 2022
Notes £    £   

TURNOVER 3 2,364,702 2,502,998

Cost of sales (246,333 ) (211,961 )
GROSS PROFIT 2,118,369 2,291,037

Administrative expenses (1,303,522 ) (2,212,304 )
814,847 78,733

Other operating income 85,406 69,657
OPERATING PROFIT 900,253 148,390

Interest receivable and similar income 2,746 391
902,999 148,781
Gain/loss on revaluation of investment
property

(48,950

)

1,493,449
854,049 1,642,230

Interest payable and similar expenses 5 (695,011 ) (611,333 )
PROFIT BEFORE TAXATION 159,038 1,030,897

Tax on profit 6 - (40,660 )
PROFIT FOR THE FINANCIAL YEAR 159,038 990,237
Profit attributable to:
Owners of the parent 159,038 990,237

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Consolidated Other Comprehensive Income
FOR THE YEAR ENDED 31 OCTOBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 159,038 990,237


OTHER COMPREHENSIVE INCOME
Actuarial gain/(loss) relating to the 118,000 1,773,000
pension scheme
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME
TAX


118,000


1,773,000
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

277,038

2,763,237

Total comprehensive income attributable to:
Owners of the parent 277,038 2,763,237

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Consolidated Balance Sheet
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 8 17,705,530 17,818,510
Investments 9 - -
17,705,530 17,818,510

CURRENT ASSETS
Stocks 816,096 824,948
Debtors 10 946,649 1,261,930
Cash at bank and in hand 1,568,229 978,480
3,330,974 3,065,358
CREDITORS
Amounts falling due within one year 11 (3,283,380 ) (3,976,087 )
NET CURRENT ASSETS/(LIABILITIES) 47,594 (910,729 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,753,124

16,907,781

CREDITORS
Amounts falling due after more than one
year

12

(7,906,260

)

(7,139,368

)

PENSION LIABILITY 14 (2,707,413 ) (2,906,000 )
NET ASSETS 7,139,451 6,862,413

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Consolidated Balance Sheet - continued
31 OCTOBER 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 74,388 74,388
Share premium 1,314,625 1,314,625
Revaluation reserve 6,718,576 6,756,554
Capital redemption reserve 30,980 30,980
Merger reserve (29,220 ) (29,220 )
Retained earnings (969,898 ) (1,284,914 )
SHAREHOLDERS' FUNDS 7,139,451 6,862,413

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

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

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

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

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





S A Baker - Director


THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Company Balance Sheet
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 8 14,131,882 14,207,441
Investments 9 29,226 29,226
14,161,108 14,236,667

CURRENT ASSETS
Debtors 10 1,088,056 2,012,325
Cash at bank and in hand 882,957 121,821
1,971,013 2,134,146
CREDITORS
Amounts falling due within one year 11 (2,777,009 ) (2,762,203 )
NET CURRENT LIABILITIES (805,996 ) (628,057 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,355,112

13,608,610

CREDITORS
Amounts falling due after more than one
year

12

(7,114,743

)

(7,097,656

)

PENSION LIABILITY 14 (2,707,413 ) (2,906,000 )
NET ASSETS 3,532,956 3,604,954

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Company Balance Sheet - continued
31 OCTOBER 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 74,388 74,388
Share premium 1,314,625 1,314,625
Revaluation reserve 4,263,184 4,381,162
Capital redemption reserve 30,980 30,980
Retained earnings (2,150,221 ) (2,196,201 )
SHAREHOLDERS' FUNDS 3,532,956 3,604,954

Company's (loss)/profit for the financial
year

(189,998

)

730,119

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





S A Baker - Director


THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Consolidated Statement of Changes in Equity
FOR THE YEAR ENDED 31 OCTOBER 2023

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 November 2021 74,388 (2,600,447 ) 1,314,625

Changes in equity
Profit for the year - 990,237 -
Other comprehensive income - 1,773,000 -
Total comprehensive income - 2,763,237 -
Transfer - (1,447,704 ) -
Balance at 31 October 2022 74,388 (1,284,914 ) 1,314,625

Changes in equity
Profit for the year - 159,038 -
Other comprehensive income - 118,000 -
Total comprehensive income - 277,038 -
Transfer - 37,978 -
Balance at 31 October 2023 74,388 (969,898 ) 1,314,625
Capital
Revaluation redemption Merger Total
reserve reserve reserve equity
£    £    £    £   
Balance at 1 November 2021 5,308,850 30,980 (29,220 ) 4,099,176

Changes in equity
Profit for the year - - - 990,237
Other comprehensive income - - - 1,773,000
Total comprehensive income - - - 2,763,237
Transfer 1,447,704 - - -
Balance at 31 October 2022 6,756,554 30,980 (29,220 ) 6,862,413

Changes in equity
Profit for the year - - - 159,038
Other comprehensive income - - - 118,000
Total comprehensive income - - - 277,038
Transfer (37,978 ) - - -
Balance at 31 October 2023 6,718,576 30,980 (29,220 ) 7,139,451

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Company Statement of Changes in Equity
FOR THE YEAR ENDED 31 OCTOBER 2023

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 November 2021 74,388 (3,670,425 ) 1,314,625

Changes in equity
Profit for the year - 730,119 -
Other comprehensive income - 1,773,000 -
Total comprehensive income - 2,503,119 -
Transfer - (1,028,895 ) -
Balance at 31 October 2022 74,388 (2,196,201 ) 1,314,625

Changes in equity
Deficit for the year - (189,998 ) -
Other comprehensive income - 118,000 -
Total comprehensive income - (71,998 ) -
Transfer - 117,978 -
Balance at 31 October 2023 74,388 (2,150,221 ) 1,314,625
Capital
Revaluation redemption Total
reserve reserve equity
£    £    £   
Balance at 1 November 2021 3,352,267 30,980 1,101,835

Changes in equity
Profit for the year - - 730,119
Other comprehensive income - - 1,773,000
Total comprehensive income - - 2,503,119
Transfer 1,028,895 - -
Balance at 31 October 2022 4,381,162 30,980 3,604,954

Changes in equity
Deficit for the year - - (189,998 )
Other comprehensive income - - 118,000
Total comprehensive income - - (71,998 )
Transfer (117,978 ) - -
Balance at 31 October 2023 4,263,184 30,980 3,532,956

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023


1. COMPANY INFORMATION

The Bird Group of Companies 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 company's principal activities and nature of its operations is property development, rentals and disposals.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
In order to assess whether it is appropriate for the Group is to be reported as a going concern, the directors have applied judgement, having undertaken appropriate enquiries and having considered the business activities and the Group's principal risks and uncertainties. The Group has a diversified property portfolio which limits risk to any one business sector. In arriving at this judgement there are a number of assumptions and estimates that are applied by the Group. These include, but not limited to, depreciation on tangible assets and recoverable value of debtors and stock respectively. These estimates, assumptions and judgements are also evaluated on a continual basis.

The Group is reliant on the provision of continuing financial support from its lenders and shareholders. Bank covenants are monitored quarterly by the directors who are satisfied the Group is well within the covenants presently applicable. Regarding income streams, no rent deduction or tenants were lost during the year; as such the directors are confident that projected income levels will be maintained. Planned capital disposals are in progress and the Group is well positioned to deal with any delays should they arise. The directors acknowledge that the latest position can change on a day to day basis and the potential long term impact is difficult to assess.

At the time of approving the financial statements, the directors have a reasonable expectation that the Group and the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Investment properties
Investment properties are measured at fair value annually with any change recognised in the profit and loss account.

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost represents buildings development and related professional costs in the development of the buildings, raw materials and finished goods. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and Loss Account, 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.


THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued
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
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 shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period on a straight line basis where this is not materially different to the sum of the digits basis. The capital element of the future payments is treated as a liability.

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

Defined benefit plans
The Group recognises a defined net benefit pension asset or liability in the balance sheet as the net total of the present value of its obligations and the fair value of plan assets out of which the obligations are to be settled. The defined benefit liability is measured on a discounted present value basis using a rate determined by reference to market yields at the reporting date on high quality corporate bonds. Defined benefit obligations and the related expenses are measured using the projected unit credit method. Plan surpluses are recognised as a defined benefit asset only to the extent that the surplus is recoverable either through reduced contributions in the future or through refunds from the plan.

Changes in the net defined benefit asset or liability arising from employee service are recognised in profit or loss as a current service cost where it relates to services in the current period and as a past service cost where it relates to services in prior periods. Costs relating to plan introductions, benefit changes, curtailments and settlements are recognised in profit or loss in the period in which they occur.

Net interest is determined by multiplying the net defined benefit liability by the discount rate, both as determined at the start of the reporting period, taking account of any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. Net interest is recognised in profit or loss.


THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Provisions
Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that the Group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Depreciation
Depreciation is provided on all tangible fixed assets, other than land and buildings and investment properties, so as to write off the cost or valuation of an asset, less its residual values, over its expected useful life as follows:

Plant and machinery - 10% to 33% straight line per annum
Fixtures and fittings - 10% to 33% straight line per annum
Motor vehicles - 10% to 33% straight line per annum

Revaluation of properties
Individual freehold properties, other than investment properties, are revalued to fair value every year with the surplus or deficit on book value being transferred to the revaluation reserve, except that a deficit which is in excess of any previously recognised surplus over depreciated cost relating to the same property, or the reversal of such a deficit, is charged (or credited) to the profit and loss account. On the disposal or recognition of a provision for impairment of a revalued fixed asset, any related balance remaining in the revaluation reserve is also transferred to the profit and loss account as a movement on reserves.

Impairment of fixed assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Bank borrowings
Interest-bearing bank loans and overdrafts are recorded at the proceeds received, net of direct issue costs. Finance charges, including premiums payable on settlement or redemption and direct issue costs, are accounted for on an accruals basis in the profit or loss account using the effect interest method and are added to the carrying amount of the instrument to the extent that they are not settled in the period in which they arise.

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


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
£    £   
Horticultural sales 945,503 1,227,884
Rental income 1,360,331 1,232,989
Parking fee income 58,868 42,125
2,364,702 2,502,998

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 838,095 857,592
Social security costs 76,468 95,015
Other pension costs 53,458 63,324
968,021 1,015,931

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

Directors 9 9
Administration 14 10
Labour 17 15
40 34

2023 2022
£    £   
Directors' remuneration 282,755 282,859
Directors' pension contributions to money purchase schemes 6,050 3,025

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

Money purchase schemes 1 1
Defined benefit schemes 3 3

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 71,071 93,735
Pension contributions to money purchase schemes - 3,025

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest 533,028 510,288
Interest payable 26,169 16,251
Hire purchase 3,814 794
Net charge on pension scheme 132,000 84,000
695,011 611,333

6. 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 - 40,660
Tax on profit - 40,660

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£    £    £   
Actuarial gain/(loss) relating to the 118,000 - 118,000
pension scheme
118,000 - 118,000

2022
Gross Tax Net
£    £    £   
Actuarial gain/(loss) relating to the 1,773,000 - 1,773,000
pension scheme
1,773,000 - 1,773,000

7. 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.


THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. TANGIBLE FIXED ASSETS

Group
Land and Investment Plant and
buildings property machinery
£    £    £   
COST
At 1 November 2022 757,178 17,012,000 216,433
Additions - - -
Disposals - (147,883 ) -
At 31 October 2023 757,178 16,864,117 216,433
DEPRECIATION
At 1 November 2022 - - 197,886
Charge for year - - 12,240
Eliminated on disposal - - -
At 31 October 2023 - - 210,126
NET BOOK VALUE
At 31 October 2023 757,178 16,864,117 6,307
At 31 October 2022 757,178 17,012,000 18,547

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 109,997 226,262 16,221 18,338,091
Additions - 73,000 - 73,000
Disposals - (46,500 ) - (194,383 )
At 31 October 2023 109,997 252,762 16,221 18,216,708
DEPRECIATION
At 1 November 2022 109,997 195,477 16,221 519,581
Charge for year - 25,857 - 38,097
Eliminated on disposal - (46,500 ) - (46,500 )
At 31 October 2023 109,997 174,834 16,221 511,178
NET BOOK VALUE
At 31 October 2023 - 77,928 - 17,705,530
At 31 October 2022 - 30,785 - 17,818,510

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. TANGIBLE FIXED ASSETS - continued

Group

Land and buildings includes land of £8,571 (2022: £8,571).

The net book value of motor vehicles includes assets held under finance lease and hire purchase contracts amounting to £75,431 (2022: £26,125). The depreciation charge for the year on these assets was £23,694 (2022: £2,375).

The investment properties were valued at their open market value for existing use by Knight Frank Chartered Surveyors in April 2022. The directors have considered this value to be the value at the year end date which included considerations based on latest yields, occupancy rates and lease terms in place.

The land and buildings were valued at an open market value of £720,000 based on existing use in April 2022 by Knight Frank LLP, Chartered Surveyors. The directors consider the value shown as at 31 October 2023 to be in line with the current market value.

Comparable amounts determined according to the historical cost convention:


Investment
properties
Land &
buildings
Plant &
machinery
Fixtures &
fittings
Motor
vehicles
Computer
equipment

Total
£    £    £    £    £    £    £   
Cost 12,172,124 646,664 216,433 109,997 252,762 16,221 13,414,201
Accumulated
depreciation

-

(259,042

)

(210,126

)

(109,997

)

(174,834

)

(16,221

)

(770,220

)
At 31 October
2023

12,172,124

387,622

6,307

-

77,928

-

12,643,981
At 31 October
2022

12,282,029

387,622

18,547

-

30,785

-

12,718,983

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Investment Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022 14,202,000 37,374 62,680 179,451 14,481,505
Additions - - - 73,000 73,000
Disposals (131,419 ) - - (46,500 ) (177,919 )
At 31 October 2023 14,070,581 37,374 62,680 205,951 14,376,586
DEPRECIATION
At 1 November 2022 - 36,591 62,680 174,793 274,064
Charge for year - 783 - 16,357 17,140
Eliminated on disposal - - - (46,500 ) (46,500 )
At 31 October 2023 - 37,374 62,680 144,650 244,704
NET BOOK VALUE
At 31 October 2023 14,070,581 - - 61,301 14,131,882
At 31 October 2022 14,202,000 783 - 4,658 14,207,441

The net book value of motor vehicles includes assets held under finance lease and hire purchase contracts amounting to £58,806 (2022: £NIL). The depreciation charge for the year on these was £14,194 (2022: £NIL).

The investment properties were valued at their open market value for existing use by Knight Frank Chartered Surveyors in April 2022. The directors have considered this value to be the value at the year end date which included considerations based on latest yields, occupancy rates and lease terms in place.

Comparable amounts determined according to the historical cost convention:

Investment Plant & Fixtures &Motor
propertiesmachineryFittingsVehiclesTotal
£   £   £   £   £   
Cost9,807,39737,37462,680205,95110,113,402
Accumulated depreciation-(37,374)(62,680)(144,650)(244,704)
At 31 October 20239,807,397--61,3019,868,698
At 31 October 20229,820,838783-4,6589,826,279

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


9. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 695,063
PROVISIONS
At 1 November 2022
and 31 October 2023 665,837
NET BOOK VALUE
At 31 October 2023 29,226
At 31 October 2022 29,226

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

Subsidiaries

Willowstone Garden Products Ltd
Registered office: The Hunting Lodge, Billesley Road, Upper Billesley, Stratford-Upon-Avon, CV37 9RA
Nature of business: Manufacture of horticultural products
%
Class of shares: holding
Ordinary 100.00
31.10.23 31.10.22
£    £   
Aggregate capital and reserves (54,493 ) (64,304 )
Profit for the year 9,811 203,544

Rosebird Developments Limited
Registered office: The Hunting Lodge, Billesley Road, Upper Billesley, Stratford-Upon-Avon, CV37 9RA
Nature of business: Property trading company
%
Class of shares: holding
Ordinary 100.00
31.10.22 31.10.22
£    £   
Aggregate capital and reserves 3,690,214 3,350,989
Profit for the year 339,225 56,574


THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


10. DEBTORS

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year:
Trade debtors 244,846 559,395 143,499 394,045
Amounts owed by group undertakings - - 271,440 929,115
Other debtors 8,000 7,124 - -
Prepayments 89,137 90,745 68,451 84,499
341,983 657,264 483,390 1,407,659

Amounts falling due after more than one year:
Trade debtors 604,666 604,666 604,666 604,666

Aggregate amounts 946,649 1,261,930 1,088,056 2,012,325

Amounts owed by group companies is unsecured, interest free and has no fixed repayment date.

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts 19,071 708,493 9,525 9,525
Hire purchase contracts 24,196 7,046 16,379 -
Trade creditors 50,496 105,913 13,249 50,919
Tax - 40,660 - -
Social security and other taxes 31,311 13,108 25,498 13,108
VAT 181,065 28,274 137,889 53,311
Other creditors 2,293,985 2,419,224 2,293,985 2,401,791
Accruals and deferred income 683,256 653,369 280,484 233,549
3,283,380 3,976,087 2,777,009 2,762,203

Bank loans and overdrafts from the Group's bankers are secured by various fixed and floating charges on the Group's assets and by various guarantee, cross-guarantees and debentures given by group undertakings.

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


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

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans - 1-2 years 19,071 19,071 9,525 9,525
Bank loans - 2-5 years 7,853,189 7,105,378 7,078,320 7,088,131
Hire purchase contracts 34,000 14,919 26,898 -
7,906,260 7,139,368 7,114,743 7,097,656

13. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans 7,891,331 7,832,942 7,097,370 7,107,181

14. EMPLOYEE BENEFIT OBLIGATIONS

Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £53,458 (2022: £63,324).

Defined benefit plans
The scheme is a defined benefit type scheme. The most recent actuarial valuation of the benefit scheme was 1 November 2022.

The Group has paid £17,716 per month to the Plan for the period 1 November 2022 to 31 October 2023 in order to recover the deficit disclosed at the last actuarial valuation, with a further 10% per annum increase effective 1 November 2023. These contributions will act to reduce the disclosed FRS 102 deficit each year.

The scheme ceased future service accrual with effect from 1 November 2010 so no further regular employer or member contributions are payable.

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


14. EMPLOYEE BENEFIT OBLIGATIONS - continued

The amounts recognised in profit or loss are as follows:

Defined benefit
pension plans
2023 2022
£    £   
Current service cost - -
Net charge on pension scheme 132,000 84,000
Past service cost - -
132,000 84,000

Actual return on plan assets (95,000 ) (809,000 )

Changes in the present value of the defined benefit obligation are as follows:

Defined benefit
pension plans
2023 2022
£    £   
Opening defined benefit obligation 6,507,000 9,356,000
Interest cost 298,000 165,000
Benefits paid (344,000 ) (351,000 )
Remeasurements:
Actuarial (gains)/losses from changes in
demographic assumptions

7,000

-
Actuarial (gains)/losses from changes in
financial assumptions

(596,000

)

(2,816,000

)
Oblig other remeasurement 210,000 153,000
6,082,000 6,507,000

Changes in the fair value of scheme assets are as follows:

Defined benefit
pension plans
2023 2022
£    £   
Opening fair value of scheme assets 3,601,000 4,568,000
Contributions by employer 212,587 193,000
Expected return 166,000 81,000
Actuarial gains/(losses) (261,000 ) (890,000 )
Benefits paid (344,000 ) (351,000 )
3,374,587 3,601,000

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


14. EMPLOYEE BENEFIT OBLIGATIONS - continued

The amounts recognised in other comprehensive income are as follows:

Defined benefit
pension plans
2023 2022
£    £   
Actuarial (gains)/losses from changes in
demographic assumptions

(7,000

)

-
Actuarial (gains)/losses from changes in
financial assumptions

596,000

2,816,000
Oblig other remeasurement (210,000 ) (153,000 )
Actuarial gains/(losses) (261,000 ) (890,000 )
118,000 1,773,000

The major categories of scheme assets as a percentage of total scheme assets are as follows:

Defined benefit
pension plans
2023 2022
Cash 1.20% 3.00%
Diversified growth funds 89.40% 83.40%
Liability driven investments 9.40% 13.60%
100.00% 100.00%

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2023 2022
Discount rate 5.60% 4.70%
RPI price inflation 3.40% 3.30%
CPI price inflation 2.70% 2.50%
Rate of increase in pensions in payment 3.30% 3.20%
Current pensioners at 65 - male 21.90% 21.80%
Current pensioners at 65 - female 24.20% 24.10%
Future pensioners at 65 - male 22.80% 22.90%
Future pensioners at 65 - female 25.40% 25.20%

15. RELATED PARTY TRANSACTIONS

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.

THE BIRD GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 02559444)

Notes to the Consolidated Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


15. RELATED PARTY TRANSACTIONS - continued

At the year end, the Group owed £398,269 (2022: £402,069) to Bird Investments, a partnership between B F Bird and A P M Bird, in loans advanced to the Group. Both B F Bird and A P M Bird are directors of the Company.

Included within creditors is a loan of £1,895,716 (2022: £2,003,520) due to P E Beach, a related party and S A Baker, A R C Palmer and A P M Bird, directors of the Company respectively. This loan is unsecured, not subject to an interest charge and has no fixed repayment date.

16. ULTIMATE CONTROLLING PARTY

The Company is jointly owned by B F Bird and A P M Bird, who are considered to be the joint ultimate controlling parties.

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal value: 2023 2022
£    £   
74,388 Ordinary £1 74,388 74,388