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Registered number: 10026703
Bhw Group Oxford Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Modus Accountants Ltd
Unit 1c Church Green
Witney
OX28 4YR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10026703
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 9,757 8,569
Investments 5 43,155 43,155
Cash at bank and in hand 25,835 23,129
78,747 74,853
Creditors: Amounts Falling Due Within One Year 6 (52,422 ) (30,132 )
NET CURRENT ASSETS (LIABILITIES) 26,325 44,721
TOTAL ASSETS LESS CURRENT LIABILITIES 26,325 44,721
Creditors: Amounts Falling Due After More Than One Year 7 (24,173 ) (42,569 )
NET ASSETS 2,152 2,152
CAPITAL AND RESERVES
Called up share capital 9 120 120
Profit and Loss Account 2,032 2,032
SHAREHOLDERS' FUNDS 2,152 2,152
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
O Hurd-Wilson
Director
2 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bhw Group Oxford Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10026703 . The registered office is Unit 5, Boundary Business Park , Wheatley Road, Garsington, Oxford, Oxfordshire, OX44 9EJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.4. Investments
Investments in equity shres which are publicly traded or where 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.
Dividends on equity securities are recognised in income when receivable.
2.5. Borrowings
Interest-bearing borrowings are intially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cot, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of effective interest method.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liabilty for at least twleve months after the reporting date.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Debtors
2024 2023
£ £
Due within one year
Directors' loan accounts 9,757 8,569
5. Current Asset Investments
2024 2023
£ £
Shares in subsidiaries 43,155 43,155
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 17,706 14,678
Corporation tax 33 33
Accruals and deferred income 1,542 1,471
Amounts owed to group undertakings 33,141 13,950
52,422 30,132
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 24,173 42,569
8. Secured Creditors
Of the creditors the following amounts are secured.
Barclays Bank plc hold a legal charge over a property belonging personally to M. Holt with a value in excess of £300,000 together with a cross guarentee between the company and BHW Refrigeration and Air Conditioning Limited.
2024 2023
£ £
Bank loans and overdrafts 41,879 57,247
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 120 120
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Dominic Hartigan 2,852 19,794 (19,398 ) - 3,248
Mr Simon Holt 2,865 19,794 (19,398 ) - 3,261
Mr Omar Hurd-Wilson 2,852 19,794 (19,398 ) - 3,248
The above loans are unsecured, repayable on demand and interest free.
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