Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3122true2023-01-01falseThat of property development, construction and energy savings solutions17trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06618727 2023-01-01 2023-12-31 06618727 2022-01-01 2022-12-31 06618727 2023-12-31 06618727 2022-12-31 06618727 c:Director1 2023-01-01 2023-12-31 06618727 d:MotorVehicles 2023-01-01 2023-12-31 06618727 d:MotorVehicles 2023-12-31 06618727 d:MotorVehicles 2022-12-31 06618727 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06618727 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06618727 d:FurnitureFittings 2023-01-01 2023-12-31 06618727 d:FurnitureFittings 2023-12-31 06618727 d:FurnitureFittings 2022-12-31 06618727 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06618727 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06618727 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06618727 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06618727 d:FreeholdInvestmentProperty 2023-12-31 06618727 d:FreeholdInvestmentProperty 2022-12-31 06618727 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 06618727 d:CurrentFinancialInstruments 2023-12-31 06618727 d:CurrentFinancialInstruments 2022-12-31 06618727 d:Non-currentFinancialInstruments 2023-12-31 06618727 d:Non-currentFinancialInstruments 2022-12-31 06618727 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06618727 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06618727 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06618727 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 06618727 d:ShareCapital 2023-12-31 06618727 d:ShareCapital 2022-12-31 06618727 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06618727 d:RetainedEarningsAccumulatedLosses 2023-12-31 06618727 d:RetainedEarningsAccumulatedLosses 2022-12-31 06618727 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 06618727 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 06618727 c:OrdinaryShareClass1 2023-01-01 2023-12-31 06618727 c:OrdinaryShareClass1 2023-12-31 06618727 c:OrdinaryShareClass1 2022-12-31 06618727 c:FRS102 2023-01-01 2023-12-31 06618727 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06618727 c:FullAccounts 2023-01-01 2023-12-31 06618727 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06618727 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06618727









TOTAL BGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TOTAL BGS LIMITED
REGISTERED NUMBER: 06618727

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
24,591
27,143

Investment property
 5 
400,000
425,000

  
424,591
452,143

Current assets
  

Stocks
  
-
30,000

Debtors: amounts falling due after more than one year
 6 
544,069
384,380

Debtors: amounts falling due within one year
 6 
500,546
231,494

Cash at bank and in hand
  
7,346
4,828

  
1,051,961
650,702

Creditors: amounts falling due within one year
 7 
(1,023,452)
(1,834,537)

Net current assets/(liabilities)
  
 
 
28,509
 
 
(1,183,835)

Total assets less current liabilities
  
453,100
(731,692)

Creditors: amounts falling due after more than one year
 8 
(794,102)
(317,520)

  

Net liabilities
  
(341,002)
(1,049,212)


Capital and reserves
  

Called up share capital 
 10 
1,174,453
1

Profit and loss account
 11 
(1,515,455)
(1,049,213)

  
(341,002)
(1,049,212)


Page 1

 
TOTAL BGS LIMITED
REGISTERED NUMBER: 06618727
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 14 October 2024.




Spencer James Davies
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
TOTAL BGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is registered in England & Wales. The companies registered office is Stanley House, 27 Wellington Road, Bilston, West Midlands, WV14 6AH. The principal activity of the company is thats of energy sales & property development.

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 following principal accounting policies have been applied:

 
2.2

Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.
In response to the above, the director has tendered for new contracts and is assessing the viability of a new sales process and software to expand and grow the business.
The director has determined that these actions are sufficient to mitigate the current position and considers that it is appropriate to prepare the financial statements on a going concern basis.

 
2.3

Turnover

Property turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of the business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Energy turnover represents the full value of commisions due to the company from the supplier under the terms of commission contracts between the two "parties", being the actual commission received plus accrued income to take it to the total commission receivable under the contract. The company recognises turnover for services provided when the amount of income can be reliably measured, and it is probable that future economic benefits will flow to the company. This income is recognised when the contract between the customer and the energy supplier becomes live.
The company makes a 20% provision against turnover to recognise against the contract for falling short of the level of estimated usage carried out at the start of the contract.



Page 3

 
TOTAL BGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.9

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.

Page 4

 
TOTAL BGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance

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.

 
2.10

Investment property

Investment property is carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 17).

Page 5

 
TOTAL BGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
28,056
26,788
54,844


Additions
-
4,001
4,001


Disposals
-
(1,022)
(1,022)



At 31 December 2023

28,056
29,767
57,823



Depreciation


At 1 January 2023
16,219
11,482
27,701


Charge for the year on owned assets
-
2,583
2,583


Charge for the year on financed assets
2,959
-
2,959


Disposals
-
(11)
(11)



At 31 December 2023

19,178
14,054
33,232



Net book value



At 31 December 2023
8,878
15,713
24,591



At 31 December 2022
11,837
15,306
27,143

Page 6

 
TOTAL BGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
425,000


Surplus on revaluation
(25,000)



At 31 December 2023
400,000

The 2023 valuations were made by the director, on an open market value for existing use basis.






If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
390,000
390,000

390,000
390,000

Page 7

 
TOTAL BGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Trade debtors
544,069
384,380

544,069
384,380


2023
2022
£
£

Due within one year

Trade debtors
500,546
215,044

Prepayments and accrued income
-
16,450

500,546
231,494



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
483,100
365,354

Trade creditors
2,208
3,751

Other taxation and social security
176,906
218,231

Obligations under finance lease and hire purchase contracts
-
10,448

Other creditors
352,808
1,176,297

Accruals and deferred income
8,430
60,456

1,023,452
1,834,537



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
794,102
317,520

794,102
317,520


Page 8

 
TOTAL BGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
7,346
7,346




Financial assets measured at fair value through profit or loss comprise...

Page 9

 
TOTAL BGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,174,453 (2022 - 1) Ordinary shares of £1.00 each
1,174,453
1


On 24 January 2023 there were additional ordinary shares created of 1,174,453 at a par value of £1 in order to increase the capital base of the company. 


11.


Reserves

Profit and loss account

Included within the profit and loss reserve is an undistributable investment property reserve of £10,000


12.Director's personal guarantees

The banks loans included at notes 7 and 8 are secured by a personal guarantee of £500,000, by the director and shareholder Spencer Davies.


13.


Controlling party

The controlling party is held by Spencer James Davies.

 
Page 10