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REGISTERED NUMBER: 04186604 (England and Wales)















B G BETTERSPOONS LIMITED

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024






B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 15

Company Statement of Changes in Equity 16

Consolidated Cash Flow Statement 17

Notes to the Consolidated Cash Flow Statement 18

Notes to the Consolidated Financial Statements 20


B G BETTERSPOONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: M S R Blakiston
R B Goddard



SECRETARY: R B Goddard



REGISTERED OFFICE: The Grange
Porthgain
Haverfordwest
Pembrokeshire
SA62 5BJ



REGISTERED NUMBER: 04186604 (England and Wales)



SENIOR STATUTORY AUDITOR: Alun Evans FCA



AUDITORS: Bevan Buckland LLP
Chartered Accountants
& Statutory Auditors
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their strategic report of the company and the group for the year ended 31 January 2024.

REVIEW OF BUSINESS
The Consolidated Statement of Comprehensive Income shows a profit for the financial year of £617,854 (2023 £809,331).

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and the execution of the groups strategy are subject to a number of risks. The key business risks and uncertainties affecting the group are considered to relate to local competition.

SECTION 172(1) STATEMENT
A director of a company must act in the way he or she considers in good faith, would most likely promote the success of the company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to:

- the likely consequences of any decision in the long-term
- the interests of the company's employees.
- the need to foster the company's business relationships with suppliers, customers and others.
- the impact of the company's operations on the community and the environment.
- the desirability of the company maintaining a reputation for high standards of business conduct, and
- the need to act fairly as between members of the company.

ON BEHALF OF THE BOARD:





M S R Blakiston - Director


30 October 2024

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of hospitality and farming.

DIVIDENDS
A dividend of £230.76 per ordinary B share was paid on 17 November 2023. The directors recommended that an interim dividend of £356.00 per ordinary B share was paid on 31 January 2024.

The total distribution of dividends for the year ended 31 January 2024 will be £58,676.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

M S R Blakiston
R B Goddard

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024


AUDITORS
The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M S R Blakiston - Director


30 October 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
B G BETTERSPOONS LIMITED

Qualified Opinion
We have audited the financial statements of B G Betterspoons Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion section of our report, the accompanying consolidated statements, give a true and fair view of the Group as at 31 January 2024 and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards (IFRSs).

Basis for Qualified Opinion
We were not appointed as auditors of the group until after the 31 January 2023 and thus did not observe the counting of physical inventories at the beginning and the end of the 31 January 2023 year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held on 31 January 2022 and 31 January 2023.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is fulfilment and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
B G BETTERSPOONS LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
B G BETTERSPOONS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-we identified the laws and regulations applicable to the company through discussions with directors and other management.

- we focused on specific laws and regulation which we considered may have a direct material effect on the financial statements of the company.

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence: and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non compliance through the audit.

- we assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls we:
- performed analytical procedures to identify any unusual or unexpected relationships;

In response to the risk of irregularities and con-compliance with law and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;



There are inherent limitations in our audit procedures above. The more removed the laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedure required to identify non-compliance with laws and regulations to enquiry of the directors and other management inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
B G BETTERSPOONS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Alun Evans FCA (Senior Statutory Auditor)
for and on behalf of Bevan Buckland LLP
Chartered Accountants
& Statutory Auditors
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

30 October 2024

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
as restated
Notes £    £   

TURNOVER 5,534,331 5,292,614

Cost of sales (1,552,966 ) (1,545,656 )
GROSS PROFIT 3,981,365 3,746,958

Administrative expenses (3,054,546 ) (2,768,638 )
926,819 978,320

Other operating income 33,289 30,951
OPERATING PROFIT 4 960,108 1,009,271

Interest receivable and similar income 28,694 10,038
988,802 1,019,309

Interest payable and similar expenses 5 (22,043 ) (20,711 )
PROFIT BEFORE TAXATION 966,759 998,598

Tax on profit 6 (348,905 ) (189,267 )
PROFIT FOR THE FINANCIAL YEAR 617,854 809,331
Profit attributable to:
Owners of the parent 617,861 809,373
Non-controlling interests (7 ) (42 )
617,854 809,331

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
as restated
Notes £    £   

PROFIT FOR THE YEAR 617,854 809,331


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

617,854

809,331

Total comprehensive income attributable to:
Owners of the parent 617,861 809,373
Non-controlling interests (7 ) (42 )
617,854 809,331

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

CONSOLIDATED BALANCE SHEET
31 JANUARY 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 3,610,663 3,311,057
Investments 12 - -
Investment property 13 610,000 610,000
4,220,663 3,921,057

CURRENT ASSETS
Stocks 14 91,517 89,194
Debtors 15 332,596 353,062
Cash at bank and in hand 2,721,323 2,451,784
3,145,436 2,894,040
CREDITORS
Amounts falling due within one year 16 608,332 619,021
NET CURRENT ASSETS 2,537,104 2,275,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,757,767

6,196,076

CREDITORS
Amounts falling due after more than one
year

17

(276,632

)

(367,853

)

PROVISIONS FOR LIABILITIES 20 (163,860 ) (70,126 )
NET ASSETS 6,317,275 5,758,097

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

CONSOLIDATED BALANCE SHEET - continued
31 JANUARY 2024

2024 2023
as restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 21 200 200
Fair value reserve 22 271,376 271,376
Retained earnings 22 6,043,245 5,484,060
SHAREHOLDERS' FUNDS 6,314,821 5,755,636

NON-CONTROLLING INTERESTS 23 2,454 2,461
TOTAL EQUITY 6,317,275 5,758,097


The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:




M S R Blakiston - Director



R B Goddard - Director


B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

COMPANY BALANCE SHEET
31 JANUARY 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 3,381,114 3,081,508
Investments 12 227,253 227,253
Investment property 13 610,000 610,000
4,218,367 3,918,761

CURRENT ASSETS
Stocks 14 91,517 89,194
Debtors 15 355,089 374,847
Cash at bank and in hand 2,721,323 2,451,784
3,167,929 2,915,825
CREDITORS
Amounts falling due within one year 16 608,332 619,020
NET CURRENT ASSETS 2,559,597 2,296,805
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,777,964

6,215,566

CREDITORS
Amounts falling due after more than one
year

17

(276,632

)

(367,853

)

PROVISIONS FOR LIABILITIES 20 (163,860 ) (70,126 )
NET ASSETS 6,337,472 5,777,587

CAPITAL AND RESERVES
Called up share capital 21 200 200
Fair value reserve 22 271,376 271,376
Retained earnings 22 6,065,896 5,506,011
SHAREHOLDERS' FUNDS 6,337,472 5,777,587

Company's profit for the financial year 618,561 813,527

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

COMPANY BALANCE SHEET - continued
31 JANUARY 2024


The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:




R B Goddard - Director



M S R Blakiston - Director


B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024

Called up Fair
share Retained value
capital earnings reserve
£    £    £   
Balance at 1 February 2022 200 4,742,427 271,376

Changes in equity
Dividends - (67,740 ) -
Total comprehensive income - 809,373 -
Balance at 31 January 2023 200 5,484,060 271,376

Changes in equity
Dividends - (58,676 ) -
Total comprehensive income - 617,861 -
Balance at 31 January 2024 200 6,043,245 271,376
Non-controlling Total
Total interests equity
£    £    £   
Balance at 1 February 2022 5,014,003 2,503 5,016,506

Changes in equity
Dividends (67,740 ) - (67,740 )
Total comprehensive income 809,373 (42 ) 809,331
Balance at 31 January 2023 5,755,636 2,461 5,758,097

Changes in equity
Dividends (58,676 ) - (58,676 )
Total comprehensive income 617,861 (7 ) 617,854
Balance at 31 January 2024 6,314,821 2,454 6,317,275

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 February 2022 200 4,760,224 271,376 5,031,800

Changes in equity
Dividends - (67,740 ) - (67,740 )
Total comprehensive income - 813,527 - 813,527
Balance at 31 January 2023 200 5,506,011 271,376 5,777,587

Changes in equity
Dividends - (58,676 ) - (58,676 )
Total comprehensive income - 618,561 - 618,561
Balance at 31 January 2024 200 6,065,896 271,376 6,337,472

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,148,898 1,146,400
Interest paid (21,600 ) (19,560 )
Interest element of hire purchase payments
paid

(443

)

(1,151

)
Tax paid (255,171 ) (180,432 )
Net cash from operating activities 871,684 945,257

Cash flows from investing activities
Purchase of tangible fixed assets (445,201 ) (178,808 )
Sale of tangible fixed assets - 39,464
Sale of fixed asset investments - 8,914
Interest received 28,694 10,038
Net cash from investing activities (416,507 ) (120,392 )

Cash flows from financing activities
Capital repayments in year (129,677 ) (115,833 )
Amount introduced by directors 6,783 -
Amount withdrawn by directors (4,068 ) (1,906 )
Equity dividends paid (58,676 ) (67,740 )
Net cash from financing activities (185,638 ) (185,479 )

Increase in cash and cash equivalents 269,539 639,386
Cash and cash equivalents at beginning
of year

2

2,451,784

1,812,398

Cash and cash equivalents at end of year 2 2,721,323 2,451,784

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
as restated
£    £   
Profit before taxation 966,759 998,598
Depreciation charges 145,595 139,835
Profit on disposal of fixed assets - (18,085 )
Finance costs 22,043 20,711
Finance income (28,694 ) (10,038 )
1,105,703 1,131,021
Increase in stocks (2,323 ) (17,248 )
Decrease/(increase) in trade and other debtors 20,465 (17,727 )
Increase in trade and other creditors 25,053 50,354
Cash generated from operations 1,148,898 1,146,400

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 2,721,323 2,451,784
Year ended 31 January 2023
31.1.23 1.2.22
as restated
£    £   
Cash and cash equivalents 2,451,784 1,812,398


B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank and in hand 2,451,784 269,539 2,721,323
2,451,784 269,539 2,721,323
Debt
Finance leases (26,885 ) 6,305 (20,580 )
Debts falling due within 1 year (114,488 ) 38,895 (75,593 )
Debts falling due after 1 year (347,274 ) 84,478 (262,796 )
(488,647 ) 129,678 (358,969 )
Total 1,963,137 399,217 2,362,354

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

B G Betterspoons 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The consolidated financial statements present the results of the parent company and its own subsidiary("the Group") as they form a single entity, intercompany transactions and balances between the group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquirers identifiable assets, liabilities and contingent liabilities are initially recognised at their fair value at the acquisition date.

The subsidiary accounts consolidated within these accounts have a year end 30 November 2023.

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. being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of 20 years and also the acquisition of a business in 2015, is being amortised over its estimated useful life of 5 years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 4% reducing balance
Improvements to property - 4% reducing balance
Plant and Machinery - 15% reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment loss.

A yacht owned by the subsidiary has not been depreciated. This policy has been adopted in its country of operation.

Agricultural land and improvements are not depreciated. This is because it is considered the agricultural land and improvements have a high residual value.

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Hospitality stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Farm livestock is valued at market value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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.

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.

Hire purchase and leasing commitments
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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The directors have concluded that it is appropriate that the financial statements be prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS
2024 2023
as restated
£    £   
Wages and salaries 2,014,072 1,767,359
Social security costs 117,541 118,454
Other pension costs 26,411 23,752
2,158,024 1,909,565

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023
as restated

Employees 101 78

2024 2023
as restated
£    £   
Directors' remuneration 25,152 22,558

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
as restated
£    £   
Hire of plant and machinery 1,960 2,388
Other operating leases 92,670 89,261
Depreciation - owned assets 145,595 156,275
Profit on disposal of fixed assets - (18,085 )
Auditors' remuneration 3,500 3,500
Auditors remuneration for non audit work 5,397 5,140

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
as restated
£    £   
Bank loan interest 21,578 19,560
HMRC Interest 22 -
Hire purchase 443 1,151
22,043 20,711

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
as restated
£    £   
Current tax:
UK corporation tax 242,751 196,109
Over /under provision of tax 12,420 (15,677 )
Total current tax 255,171 180,432

Deferred tax 93,734 8,835
Tax on profit 348,905 189,267

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
as restated
£    £   
Profit before tax 966,759 998,598
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2023 - 19 %)

183,684

189,734

Effects of:
Expenses not deductible for tax purposes 95 75
Depreciation in excess of capital allowances 10,173 5,503
Adjustments to tax charge in respect of previous periods 12,420 (15,677 )
Other 170 797
Movement on deferred tax provision 93,734 8,835
Effect of tax rate changes 48,629 -
Total tax charge 348,905 189,267

Factors that may affect future tax charges

Changes to the UK corporation tax rates were substantively enacted as part of the Finance Act 2021 (published on 24 May 2021, with royal assent received on 10 June 2021). This confirmed an increase to the corporation tax rate to 25% with effect from 1 April 2023. Deferred taxes at the Balance Sheet date have been calculated based on the corporation tax rate of 25% that is enacted at the reporting date.

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. DIVIDENDS
2024 2023
as restated
£    £   
Ordinary B shares of £1 each
Interim 58,676 67,740

9. PRIOR YEAR ADJUSTMENT

The prior period adjustment has arisen as a result of an understatement of investment properties in prior years. The comparative information has been adjusted to reflect this change in policy and is detailed in the prior years adjustments.


Company Group
Retained Retained
Earnings Earnings
£    £   
As previously reported at 01 February 2022 4,,653,982 4,631,331
Reduction of depreciation brought forward 111,096 111,096
Increase in valuation 271,376 271,376
As restated at 01 February 2022 5,036,454 5,013,803

As previously reported at 31 January 2023 5,394,915 5,372,964
eduction of depreciation brought forward 111,096 111,096
Increase in valuation 271,376 271,376
As restated at 31 January 2023 5,777,387 5,755,436











B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 305,185
AMORTISATION
At 1 February 2023
and 31 January 2024 305,185
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Company
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 305,185
AMORTISATION
At 1 February 2023
and 31 January 2024 305,185
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

11. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold Short Long to
property leasehold leasehold property
£    £    £    £   
COST
At 1 February 2023 1,837,005 1,565,104 115,825 253,773
Additions 260,000 26,601 18,057 23,213
At 31 January 2024 2,097,005 1,591,705 133,882 276,986
DEPRECIATION
At 1 February 2023 743,090 - 53,820 34,250
Charge for year 45,528 - 3,202 9,724
At 31 January 2024 788,618 - 57,022 43,974
NET BOOK VALUE
At 31 January 2024 1,308,387 1,591,705 76,860 233,012
At 31 January 2023 1,093,915 1,565,104 62,005 219,523

Fixtures
Plant and and Motor
Machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 900,304 83,980 160,557 4,916,548
Additions 31,682 19,898 65,750 445,201
At 31 January 2024 931,986 103,878 226,307 5,361,749
DEPRECIATION
At 1 February 2023 652,041 38,337 83,953 1,605,491
Charge for year 41,997 9,833 35,311 145,595
At 31 January 2024 694,038 48,170 119,264 1,751,086
NET BOOK VALUE
At 31 January 2024 237,948 55,708 107,043 3,610,663
At 31 January 2023 248,263 45,643 76,604 3,311,057

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

11. TANGIBLE FIXED ASSETS - continued

Company
Improvements
Freehold Short Long to
property leasehold leasehold property
£    £    £    £   
COST
At 1 February 2023 1,607,456 1,565,104 115,825 253,773
Additions 260,000 26,601 18,057 23,213
At 31 January 2024 1,867,456 1,591,705 133,882 276,986
DEPRECIATION
At 1 February 2023 743,090 - 53,820 34,250
Charge for year 45,528 - 3,202 9,724
At 31 January 2024 788,618 - 57,022 43,974
NET BOOK VALUE
At 31 January 2024 1,078,838 1,591,705 76,860 233,012
At 31 January 2023 864,366 1,565,104 62,005 219,523

Fixtures
Plant and and Motor
Machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 900,304 83,980 160,557 4,686,999
Additions 31,682 19,898 65,750 445,201
At 31 January 2024 931,986 103,878 226,307 5,132,200
DEPRECIATION
At 1 February 2023 652,041 38,337 83,953 1,605,491
Charge for year 41,997 9,833 35,311 145,595
At 31 January 2024 694,038 48,170 119,264 1,751,086
NET BOOK VALUE
At 31 January 2024 237,948 55,708 107,043 3,381,114
At 31 January 2023 248,263 45,643 76,604 3,081,508

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

12. FIXED ASSET INVESTMENTS

Company
Subsidiary
£   
COST
At 1 February 2023
and 31 January 2024 227,253
NET BOOK VALUE
At 31 January 2024 227,253
At 31 January 2023 227,253


The company's investments at the balance sheet date include the following:

% holding

Betterspoons & Co LLP (registered in Greece) 99

13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 610,000
NET BOOK VALUE
At 31 January 2024 610,000
At 31 January 2023 610,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 610,000

Company
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 610,000
NET BOOK VALUE
At 31 January 2024 610,000
At 31 January 2023 610,000

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

13. INVESTMENT PROPERTY - continued

Company

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 610,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
as restated
£    £   
Cost 338,624 338,624

Investment property was valued on an open market basis on 20 September 2024 by the directors. .

14. STOCKS

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Stocks 91,517 89,194 91,517 89,194

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Trade debtors 3,551 1,669 3,551 1,669
Other debtors 158 166 - -
Other debtors 323,611 339,702 346,262 361,653
Prepayments 5,276 11,525 5,276 11,525
332,596 353,062 355,089 374,847

Debtors for the year includes £252,994 (2023 £242,732) falling due after one year.

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Bank loans and overdrafts (see note 18) 75,593 114,488 75,593 114,488
Hire purchase contracts (see note 19) 6,744 6,306 6,744 6,306
Trade creditors 58,985 86,545 58,985 86,544
Social security and other taxes 293,119 244,564 293,119 244,564
VAT 111,437 80,859 111,437 80,859
Other creditors 32,195 65,470 32,195 65,470
Grants deferred 2,064 2,429 2,064 2,429
Shareholder Mrs J B Blakiston 10,220 3,100 10,220 3,100
Directors' loan accounts 17,975 15,260 17,975 15,260
608,332 619,021 608,332 619,020

HSBC PLC hold 6 legal charges dated 21 November 2018, 29 July 2014, 23 May 2008,19 December 2005, 19 December 2005, and 29 May 2001.

The loans from directors are interest free, are unsecured and do not have fixed terms for repayment.

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Bank loans (see note 18) 262,796 347,274 262,796 347,274
Hire purchase contracts (see note 19) 13,836 20,579 13,836 20,579
276,632 367,853 276,632 367,853

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 75,593 114,488 75,593 114,488
Amounts falling due between two and five years:
Bank loans 262,796 347,274 262,796 347,274

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
as restated
£    £   
Net obligations repayable:
Within one year 6,744 6,306
Between one and five years 13,836 20,579
20,580 26,885

Company
Hire purchase contracts
2024 2023
as restated
£    £   
Net obligations repayable:
Within one year 6,744 6,306
Between one and five years 13,836 20,579
20,580 26,885

20. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Deferred tax 163,860 70,126 163,860 70,126

Group
Deferred
tax
£   
Balance at 1 February 2023 70,126
Charge to Income Statement 93,734
Balance at 31 January 2024 163,860

Company
Deferred
tax
£   
Balance at 1 February 2023 70,126
Charge to Income Statement 93,734
Balance at 31 January 2024 163,860

B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

20. PROVISIONS FOR LIABILITIES - continued

The provision for deferred tax is made up as follows:


Group Company
Balances: 2024 2023 2024 2023

Accelerated capital allowances 163,860 70,126 163,860 70,125






21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
2 Ordinary A £1 100 100
100 Ordinary B £1 100 100
200 200

22. RESERVES

Group
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2023 5,484,060 271,376 5,755,436
Profit for the year 617,861 617,861
Dividends (58,676 ) (58,676 )
At 31 January 2024 6,043,245 271,376 6,314,621

Company
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2023 5,506,011 271,376 5,777,387
Profit for the year 618,561 618,561
Dividends (58,676 ) (58,676 )
At 31 January 2024 6,065,896 271,376 6,337,272


B G BETTERSPOONS LIMITED (REGISTERED NUMBER: 04186604)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

23. NON-CONTROLLING INTERESTS

The minority interest balance of £2,454 (2023 £2,461) represents 1% of the accumulated profits and losses in Betterspoons & Co LLP.

24. RELATED PARTY DISCLOSURES

During the year the directors made funds available to the company to assist with the provision of working capital. The loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was £17,975 (2023 £15,481) .

Betterspoons & Co, an LLP registered in Greece, is controlled by BG Betterspoons Limited by virtue of the company holding an excess of 50 % of the equity of the company.

During the year under review, the company has paid rent of £84,900 to Mr R Goddard and Mr M Blakiston, directors and shareholders of the company, for use of freehold property which is jointly owned by them.

The company was owed £199,420 by West Coast Inns Ltd, which is a company under control by Mr O Blakiston. Interest is charged on amounts outstanding.

The company was owed £26,468 by Mr Oliver Blakiston. Interest is charged on amounts outstanding.

During the year, Ms J Blakiston paid rent of £5,546 to the company for use of freehold properties owned by the company.