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Registered number: 03770660










BPE DESIGN AND SUPPORT LTD.










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
BPE DESIGN AND SUPPORT LTD.
REGISTERED NUMBER: 03770660

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
43,411

Current assets
  

Debtors: amounts falling due within one year
 5 
1,353,288
1,769,375

Cash at bank and in hand
  
-
12,178

  
1,353,288
1,781,553

Creditors: amounts falling due within one year
 6 
-
(689,200)

Net current assets
  
 
 
1,353,288
 
 
1,092,353

Total assets less current liabilities
  
1,353,288
1,135,764

Provisions for liabilities
  

Deferred tax
 7 
-
(7,516)

Net assets
  
1,353,288
1,128,248


Capital and reserves
  

Called up share capital 
  
7
7

Share premium account
  
-
106,269

Capital redemption reserve
  
-
2

Profit and loss account
  
1,353,281
1,021,970

  
1,353,288
1,128,248


Page 1

 
BPE DESIGN AND SUPPORT LTD.
REGISTERED NUMBER: 03770660
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 August 2024.




J Fox
S A Laird
Director
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BPE DESIGN AND SUPPORT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

BPE Design and Support Ltd is a private company limited by shares, incorporated in England and Wales (registered number: 03770660). Its registered office is On Line House, Pelham Road, Immingham, North East Lincolnshire, England, DN40 1AB. The principal activity of the Company throughout the year continued to be that of design, consultancy and support services.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentational currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

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 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of On Line Group Limited as at 31 March 2024 and these financial statements may be obtained from Registrar of Companies.

  
2.3

Going concern

On 31 March 2024, the trade, as well as the assets and liabilities of BPE Design and Support Ltd were  transferred to On Line Design & Engineering Limited, a fellow subsidiary. The associated assets and  liabilities were transferred across on this date at their book value. 
The final transactions relating to the transfer will be completed during FY2025, after which, it is the  intention of the directors’ to cease trading through BPE Design and Support Ltd.

Page 3

 
BPE DESIGN AND SUPPORT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

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.

 
2.6

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.

 
2.7

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.

The current 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.


Page 4

 
BPE DESIGN AND SUPPORT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Land and buildings freehold
-
no depreciation
Fixtures, fittings and equipment
-
15%
reducing balance
Computer equipment
-
33%
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.

 
2.9

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 5

 
BPE DESIGN AND SUPPORT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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 such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties. 

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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.

 
2.11

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.


3.


Employees

2024
2023
£
£

Wages and salaries
3,077,355
2,598,976

Social security costs
177,877
156,946

Cost of defined contribution scheme
101,005
88,143

3,356,237
2,844,065


The average monthly number of employees, including directors, during the year was 25 (2023 - 23).

Page 6

 
BPE DESIGN AND SUPPORT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Land and buildings freehold
Fixtures, fittings and equipment
Computer equipment
Total

£
£
£
£



Cost


At 1 April 2023
5,108
111,846
69,034
185,988


Additions
-
-
4,073
4,073


Transfers intra group
(5,108)
(111,846)
(73,107)
(190,061)



At 31 March 2024

-
-
-
-





At 1 April 2023
-
77,830
64,747
142,577


Charge for the year on owned assets
-
7,670
2,887
10,557


Transfers intra group
-
(85,500)
(67,634)
(153,134)



At 31 March 2024

-
-
-
-



Net book value



At 31 March 2024
-
-
-
-



At 31 March 2023
5,108
34,016
4,287
43,411


5.


Debtors

2024
2023
£
£


Trade debtors
-
821,346

Amounts owed by group undertakings
1,353,288
536,635

Prepayments and accrued income
-
411,394

1,353,288
1,769,375


Page 7

 
BPE DESIGN AND SUPPORT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
93,312

Amounts owed to group undertakings
-
270,626

Other taxation and social security
-
243,259

Other creditors
-
29,446

Accruals and deferred income
-
52,557

-
689,200



7.


Deferred taxation




2024


£






At beginning of year
7,516


Utilised in year
(7,516)



At end of year
-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
9,576

Short term timing difference
-
(2,060)

-
7,516


8.


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 £101,005 (2023: £93,340). Contributions totalling £nil (2023: £12,392) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
BPE DESIGN AND SUPPORT LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.Financial guarantee contracts

The Company is subject to a fixed and floating charge over all assets of the Company, providing a cross guarantee against an overdraft held in another Group company. The value of the potential liability is subject to variation depending on the amount of overdraft being utilised.


10.


Related party transactions

The Company has taken advantage of the exemption available in section 33 of FRS 102 from disclosing transactions with other members of the Group in which any subsidiary which is a party to the transaction is wholly owned by the Group.

In respect of other companies within the Group that are not wholly owned, the Company made purchases of £3,517 (2023: £5,505). At the year end the Company owed £nil (2023: £609) to this entity.


11.


Controlling party

On Line Group Limited is the Company's controlling related party by virtue of its 100% interest in the Company, a company which is incorporated in England and Wales.

These financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ and are the largest and smallest group of undertakings for which group accounts have been drawn up.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 13 August 2024 by Andrew Irvine (Senior Statutory Auditor) on behalf of Shorts.

 
Page 9