The Building Safety Group Limited 01109090 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the provision of a safety service to its member companies. The company is constituted as a company limited by guarantee. Digita Accounts Production Advanced 6.30.9574.0 true true 01109090 2023-01-01 2023-12-31 01109090 2023-12-31 01109090 bus:Consolidated 2023-12-31 01109090 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:CurrentFinancialInstruments 2023-12-31 01109090 core:CurrentFinancialInstruments 2023-12-31 01109090 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01109090 core:BetweenTwoFiveYears 2023-12-31 01109090 core:WithinOneYear 2023-12-31 01109090 core:FurnitureFittingsToolsEquipment 2023-12-31 01109090 core:LandBuildings 2023-12-31 01109090 core:OtherPropertyPlantEquipment 2023-12-31 01109090 bus:SmallEntities 2023-01-01 2023-12-31 01109090 bus:Audited 2023-01-01 2023-12-31 01109090 bus:FullAccounts 2023-01-01 2023-12-31 01109090 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01109090 bus:RegisteredOffice 2023-01-01 2023-12-31 01109090 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 01109090 bus:Director1 2023-01-01 2023-12-31 01109090 bus:Director11 2023-01-01 2023-12-31 01109090 bus:Director13 2023-01-01 2023-12-31 01109090 bus:Director14 2023-01-01 2023-12-31 01109090 bus:Director16 2023-01-01 2023-12-31 01109090 bus:Director3 2023-01-01 2023-12-31 01109090 bus:Director5 2023-01-01 2023-12-31 01109090 bus:Director6 2023-01-01 2023-12-31 01109090 bus:Director8 2023-01-01 2023-12-31 01109090 bus:Director9 2023-01-01 2023-12-31 01109090 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01109090 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 01109090 core:LandBuildings 2023-01-01 2023-12-31 01109090 core:LeaseholdImprovements 2023-01-01 2023-12-31 01109090 core:OfficeEquipment 2023-01-01 2023-12-31 01109090 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 01109090 countries:EnglandWales 2023-01-01 2023-12-31 01109090 2022-12-31 01109090 core:FurnitureFittingsToolsEquipment 2022-12-31 01109090 core:LandBuildings 2022-12-31 01109090 core:OtherPropertyPlantEquipment 2022-12-31 01109090 2022-01-01 2022-12-31 01109090 2022-12-31 01109090 core:CurrentFinancialInstruments 2022-12-31 01109090 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 01109090 core:BetweenTwoFiveYears 2022-12-31 01109090 core:WithinOneYear 2022-12-31 01109090 core:FurnitureFittingsToolsEquipment 2022-12-31 01109090 core:LandBuildings 2022-12-31 01109090 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 01109090

Prepared for the registrar

The Building Safety Group Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2023

 

The Building Safety Group Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

The Building Safety Group Limited

Company Information

Directors

S J Bell MBA, TechIOSH

G O Leach MA,C.Eng, MICE

A P Musselwhite FCIOB

C P Nicks MCIOB IOSH

R P Perkins BSc (Hons)

W Sargeant BSc (Hons)

N A Sherreard FCIOB CEnv

P S Knox

S J Weir BSc (Hons), MSc, MCIOB

C Bassett

Mr R D Tidswell

Company secretary

C Bassett

Registered office

5 Pinkers Court
Briarlands Office Park
Rudgeway
Bristol
BS35 3QH

Auditors

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

The Building Safety Group Limited

(Registration number: 01109090)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

48,746

84,220

Current assets

 

Stocks

6

5,661

4,407

Debtors

7

249,394

365,878

Other financial assets

5

1,680,019

1,555,762

Cash at bank and in hand

 

856,380

1,082,742

 

2,791,454

3,008,789

Creditors: Amounts falling due within one year

8

(1,669,329)

(1,770,773)

Net current assets

 

1,122,125

1,238,016

Total assets less current liabilities

 

1,170,871

1,322,236

Deferred tax liabilities

 

-

(26,672)

Net assets

 

1,170,871

1,295,564

Capital and reserves

 

Other reserves

170,577

44,095

Profit and loss account

1,000,294

1,251,469

Shareholders' funds

 

1,170,871

1,295,564

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 June 2024 and signed on its behalf by:
 


C Bassett
Company secretary and director

 

The Building Safety Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

1

General information

The company is a company limited by guarantee, incorporated in England, and consquently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.

The address of its registered office is:
5 Pinkers Court
Briarlands Office Park
Rudgeway
Bristol
BS35 3QH

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources available to continue in operational existence for the forseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Building Safety Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

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 gains and losses in tax assessments in periods different from those in which they are recognised in the 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. The movement in deferred tax is charged to the applicable reserve, affecting the unrealised gain or loss on the reserve for the year.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Property Improvements

Over the term of the lease

Office Equipment

33.33% straight line

Training Equipment

33.33% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective income method. Dividends on equity securities are recognised in income when recievable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

The Building Safety Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held seperately from those of the company. The annual contributions payable are charged to the profit and loss account.

Financial instruments


Classification
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 directly to equity.


 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
 
 

 

The Building Safety Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

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

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset's carrying amount and the present value of estimated cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be recieved for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 55 (2022 - 55).

 

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost

At 1 January 2023

145,744

104,424

31,089

281,257

Additions

-

1,127

-

1,127

At 31 December 2023

145,744

105,551

31,089

282,384

Depreciation

At 1 January 2023

99,350

71,791

25,896

197,037

Charge for the year

15,906

16,249

4,446

36,601

At 31 December 2023

115,256

88,040

30,342

233,638

Carrying amount

At 31 December 2023

30,488

17,511

747

48,746

At 31 December 2022

46,394

32,633

5,193

84,220

 

The Building Safety Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

5

Investments

Financial assets at fair value through profit and loss
£

Current financial assets

Cost or valuation

At 1 January 2023

1,555,762

Additions

205,004

Disposals

(186,643)

Fair value adjustments

105,896

At 31 December 2023

1,680,019

Carrying amount

At 31 December 2023

1,680,019

The historical cost of the investments as at 31 December 2022 was £1,509,440 (2022 - £1,507,105)

 

6

Stocks

2023
 £

2022
 £

Stocks

5,661

4,407

 

The Building Safety Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

7

Debtors

2023
 £

2022
 £

Trade debtors

175,703

272,973

Other debtors

500

500

Prepayments

73,191

92,405

 

249,394

365,878

 

8

Creditors

2023
 £

2022
 £

Due within one year

Trade creditors

56,954

133,830

Social security and other taxes

297,001

290,303

Other creditors

39

15,485

Accrued expenses

129,472

259,601

Corporation tax liability

30,852

30,852

Deferred income

1,155,011

1,040,702

1,669,329

1,770,773

 

9

Obligations under lease and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

74,213

82,198

Later than one year and not later than five years

73,041

135,444

147,254

217,642

 

10

Related party transactions

During the year the company received fees and subscriptions from some companies of which members of the board are directors. All transactions were at an arms-length and in the ordinary course of business. The total of these transactions was £125,778 (2022: £122,290) and at the year end £11,696 (2022: £10,677) was owed by such related parties.

 

11

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 18 June 2024 was Scott Lawrence , who signed for and on behalf of Hazlewoods LLP.