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REGISTERED NUMBER: 01342461 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

BHW GROUP LIMITED

BHW GROUP LIMITED (REGISTERED NUMBER: 01342461)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BHW GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: E E Ayres
R D Ayres
V L Ayres
R M Ayres
R J Ayres
J L Berry





SECRETARY: V L Ayres





REGISTERED OFFICE: Unit 7, Lismirrane Industrial Park
Elstree Road
Elstree
Borehamwood
Hertfordshire
WD6 3EE





REGISTERED NUMBER: 01342461 (England and Wales)





ACCOUNTANTS: Sproull & Co.
Chartered Accountants
First Floor, Jebsen House
53-61 High Street
Ruislip
Middlesex
HA4 7BD

BHW GROUP LIMITED (REGISTERED NUMBER: 01342461)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,000 4,000
Tangible assets 5 1,082,245 1,101,230
Investments 6 614,236 614,236
1,700,481 1,719,466

CURRENT ASSETS
Stocks 708,406 1,094,153
Debtors 7 1,044,006 793,829
Cash at bank and in hand 631,630 475,282
2,384,042 2,363,264
CREDITORS
Amounts falling due within one year 8 953,896 1,066,766
NET CURRENT ASSETS 1,430,146 1,296,498
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,130,627

3,015,964

CREDITORS
Amounts falling due after more than one year 9 (192,321 ) (224,932 )

PROVISIONS FOR LIABILITIES 11 (25,070 ) (26,291 )
NET ASSETS 2,913,236 2,764,741

BHW GROUP LIMITED (REGISTERED NUMBER: 01342461)

BALANCE SHEET - continued
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 47,300 47,300
Revaluation reserve 213,206 213,206
Capital redemption reserve 2,700 2,700
Retained earnings 2,650,030 2,501,535
SHAREHOLDERS' FUNDS 2,913,236 2,764,741

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th August 2024 and were signed on its behalf by:





R D Ayres - Director


BHW GROUP LIMITED (REGISTERED NUMBER: 01342461)

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


1. STATUTORY INFORMATION

BHW Group 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 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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill purchased in 2003 was written off evenly over its estimated useful life of ten years.

Patents and licences
Amortisation is provided in order to write off each asset over its estimated useful life.

The directors consider, however, that the residual value of the patents and licences held by the company are at least equivalent to their original cost and therefore any amortisation is considered immaterial.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - depreciation is not provided
Short leasehold - straight line over the life of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Land and buildings are depreciated over their estimated useful economic life after taking the residual value of the assets into consideration. The directors consider the residual value of the company's land and buildings to be in excess of the original cost and consequently no depreciation is provided.

The residual value of the company's assets and whether the value has been impaired are considered by the directors on an annual basis.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

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


BHW GROUP LIMITED (REGISTERED NUMBER: 01342461)

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

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.

Deferred tax is also provided on the unrealised gains in the value of the freehold property. It is measured using tax rates and laws that would have applied had the company sold the freehold property at its book value.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated in accordance with the relevant fixed asset accounting policy. 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 the profit and loss account over the relevant period. 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.

Pension costs and other post-retirement benefits
The company contributes to personal pension schemes for directors and employees. The assets of the schemes are held by an independent pension provider. The amount charged to the profit and loss account is the contributions payable in the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 25 ) .

BHW GROUP LIMITED (REGISTERED NUMBER: 01342461)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 26,000 4,000 30,000
AMORTISATION
At 1st January 2023
and 31st December 2023 26,000 - 26,000
NET BOOK VALUE
At 31st December 2023 - 4,000 4,000
At 31st December 2022 - 4,000 4,000

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1st January 2023 1,005,795 44,558 230,343
Additions - - 5,610
Disposals - (44,558 ) (172,516 )
At 31st December 2023 1,005,795 - 63,437
DEPRECIATION
At 1st January 2023 - 44,558 206,231
Charge for year - - 6,462
Eliminated on disposal - (44,558 ) (171,367 )
At 31st December 2023 - - 41,326
NET BOOK VALUE
At 31st December 2023 1,005,795 - 22,111
At 31st December 2022 1,005,795 - 24,112

BHW GROUP LIMITED (REGISTERED NUMBER: 01342461)

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


5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1st January 2023 286,173 93,464 85,159 1,745,492
Additions - 32,850 917 39,377
Disposals (255,018 ) (49,354 ) (44,740 ) (566,186 )
At 31st December 2023 31,155 76,960 41,336 1,218,683
DEPRECIATION
At 1st January 2023 243,796 72,235 77,442 644,262
Charge for year 3,632 9,679 4,959 24,732
Eliminated on disposal (232,611 ) (39,501 ) (44,519 ) (532,556 )
At 31st December 2023 14,817 42,413 37,882 136,438
NET BOOK VALUE
At 31st December 2023 16,338 34,547 3,454 1,082,245
At 31st December 2022 42,377 21,229 7,717 1,101,230

The historic cost of all freehold properties held is £779,109. This includes one property with a historic cost of £203,314 which, following a previous policy of revaluation, was brought up to the current book value of £430,000 in December 2013.

In line with options available for companies upon adoption of Financial Reporting Standard 102, this freehold property valuation is being carried as deemed cost.

Properties acquired since the introduction of Financial Reporting Standard 102 are shown at original cost.

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 614,236
NET BOOK VALUE
At 31st December 2023 614,236
At 31st December 2022 614,236

BHW GROUP LIMITED (REGISTERED NUMBER: 01342461)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 683,028 684,420
Other debtors 360,978 109,409
1,044,006 793,829

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 49,162 54,057
Hire purchase contracts 9,060 4,743
Trade creditors 333,771 478,980
Amounts owed to group undertakings 300 300
Taxation and social security 218,848 188,766
Other creditors 342,755 339,920
953,896 1,066,766

The amounts owed to the group undertakings are interest-free, unsecured and repayable on demand.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 181,697 224,932
Hire purchase contracts 10,624 -
192,321 224,932

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 230,859 278,989

Security provided:

Debenture dated 16th January 1995 incorporating all assets of the company.

Legal charges dated 5th November 1997 and 24th March 2017 over the company's freehold properties.

BHW GROUP LIMITED (REGISTERED NUMBER: 01342461)

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


11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Deferred tax 26,291 29,102
Deferred tax movement (1,221 ) (2,811 )
25,070 26,291

Deferred
tax
£   
Balance at 1st January 2023 26,291
Credit to Profit and Loss Account during year (1,221 )
Balance at 31st December 2023 25,070