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REGISTERED NUMBER: 08148637 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BRG ENTERPRISE SOLUTIONS LIMITED

BRG ENTERPRISE SOLUTIONS LIMITED (REGISTERED NUMBER: 08148637)

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










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 7


BRG ENTERPRISE SOLUTIONS LIMITED (REGISTERED NUMBER: 08148637)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 392,635 439,554
Investments 6 81 -
392,716 439,554

CURRENT ASSETS
Debtors 7 748,509 692,862
Cash at bank and in hand 717,970 548,869
1,466,479 1,241,731
CREDITORS
Amounts falling due within one year 8 (1,126,473 ) (1,000,837 )
NET CURRENT ASSETS 340,006 240,894
TOTAL ASSETS LESS CURRENT
LIABILITIES

732,722

680,448

PROVISIONS FOR LIABILITIES (93,517 ) (79,213 )
NET ASSETS 639,205 601,235

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 639,204 601,234
639,205 601,235

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

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

BRG ENTERPRISE SOLUTIONS LIMITED (REGISTERED NUMBER: 08148637)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





D Harrop - Director


BRG ENTERPRISE SOLUTIONS LIMITED (REGISTERED NUMBER: 08148637)

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


1. STATUTORY INFORMATION

BRG Enterprise Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08148637

Registered office: CP House 97-107 Uxbridge Road
Ealing
London
W5 5TL

The principal activity of the company is that of providing evidence-based solutions in the form of market research, data, intelligence and consultancy services to the global buildings products, speciality chemicals and paints & coatings industries.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimate useful lives and residual values deemed appropriate by the directors. estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during the current and prior accounting periods.

Revenue recognition
The company provides evidence-based solutions in the form of market research, data, intelligence and consultancy services to the global buildings products, speciality chemicals and paints & coatings industries. Income is recognised at clearly agreed and defined stages of deliverable. The turnover in the profit and loss account is exclusive of Value Added Tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences - Fully amortised

BRG ENTERPRISE SOLUTIONS LIMITED (REGISTERED NUMBER: 08148637)

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


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 10-33% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

BRG ENTERPRISE SOLUTIONS LIMITED (REGISTERED NUMBER: 08148637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 statement of financial position 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.

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 statement of financial position 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.

Operating leases
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.

Employee benefits
The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expense in the profit and loss account in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 29 ) .

BRG ENTERPRISE SOLUTIONS LIMITED (REGISTERED NUMBER: 08148637)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 404,150
AMORTISATION
At 1 January 2023
and 31 December 2023 404,150
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and
equipment
£   
COST
At 1 January 2023 1,299,078
Additions 7,317
At 31 December 2023 1,306,395
DEPRECIATION
At 1 January 2023 859,524
Charge for year 54,236
At 31 December 2023 913,760
NET BOOK VALUE
At 31 December 2023 392,635
At 31 December 2022 439,554

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 81
At 31 December 2023 81
NET BOOK VALUE
At 31 December 2023 81

BRG ENTERPRISE SOLUTIONS LIMITED (REGISTERED NUMBER: 08148637)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 696,271 617,234
Amounts owed by group undertakings - 1,094
Other debtors 52,238 74,534
748,509 692,862

Amounts owed by group companies are unsecured, interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 87,131 105,786
Amounts owed to group undertakings 321,302 183,577
Taxation and social security 202,182 192,708
Other creditors 515,858 518,766
1,126,473 1,000,837

Amounts owed to group companies are unsecured, interest free and repayable on demand.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 10,506 62,399
Between one and five years - 5,110
10,506 67,509

10. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no other significant events up to the date of approval of the financial statements by the Board.

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of BRG Enterprise Solutions (Holdings) Limited, a company incorporated in England and Wales.