Bardwood Support Services Ltd Cover
Bardwood Support Services Ltd
Company No. 09511970
Directors' Report and Audited Financial Statements
31 March 2024
Bardwood Support Services Ltd Contents
Pages
Company Information
2
Directors Report
3 to 4
Strategic Report
5 to 6
Auditor's Report
7 to 10
Statement of Comprehensive Income
11
Statement of Financial Position
12
Statement of Changes in Equity
13
Statement of Cash Flows
14
Notes to the Financial Statements
15 to 22
Bardwood Support Services Ltd Company Information
Directors
E. Bardwell
N. Rajgor
Registered Office
Woodland Place
Hurricane Way
Wickford
Essex
SS11 8YB
Auditor
Xeinadin Audit Limited
8th Floor
Becket House
36 Old Jewry
London
EC2R 8DD
Bardwood Support Services Ltd Directors Report
The Directors present their report and the financial statements for the year ended 31 March 2024.
Principal activities
The principal activity of the company during the year under review was the recruitment of staff within the facilities industry.

Directors
The Directors who served at any time during the year were as follows:
E. Bardwell
N. Rajgor
Future developments
Underlining its objective to provide specialised recruitment and business support solutions, prospective of revenue generation from all verticals of the business are being explored. Along with recruitment, screening and vetting services, the goal is to also test waters with other business support services like payroll and staff management as an outsourced activity, executives onboarding and catering services.
Research and development activities
The business is determined in adopting automation to the farthest extent possible. In its objective to enable all departments to adopt automated solutions, new software solutions are being explored on continuous basis to improve on efficiency and efficacy of information being produced and managed.
Events after the end of the reporting period
The factoring facility with Lloyds was renewed in May 2024 with an enhanced factoring arrangement with a £4 Million limit (2023 - £2 Million) to help with working capital requirement of the company. The transfer from Invoice Factoring to Invoice Discounting Facility came into effect on 22 July 2024 and the renewed limit was placed for two years.
Statement of directors' responsibilities
The Directors are responsible for preparing the Directors' report and the accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts 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 accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these accounts, the directors are required to:
*
select suitable accounting policies and then apply them consistently;
*
make judgements and estimates that are reasonable and prudent;
*
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statments; and
*
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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure of information to auditor
So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant information and to establish that the company's auditors are aware of that information.
Signed on behalf of the board
N. Rajgor
Director
11 November 2024
Bardwood Support Services Ltd Strategic Report
The Directors present their strategic report for the year ended 31 March 2024.
Business review
Bardwood Support Services as a business, specialises in providing bespoke business support solutions package to its clients thriving on our unique business model which incorporates a comprehensive client cost effective one stop solution for recruitment, security services, screening & vetting, and back-office support. Over the years, the business has created a niche and gradually increased its share in the market.

The business caters to the needs of its stakeholders where customers being the key external factor place the company in fairly advantageous position given the existing module of the business while dealing with threats it is posed to. However, the elements that give the control and hold over the business are the internal factors, like resource management and core competencies of the organisation.

The business ensures satisfaction of all four growth perspectives through customer satisfaction, automation and process review with training and induction programmes as well as efficient management of cashflows.
Financial and other key performance indicators:
The Company’s financial performance is measured on Turnover, Gross Profit and Gross Profit as a percentage on Turnover. The Key Performance Indicators as a trend for the past four financial years have been as follows
FY
Turnover
Gross Profit
Gross Profit %
2020-21
£4,772,183
£565,391
11.85%
2021-22
£8,804,950
£1,180,906
13.41%
2022-23
£12,572,326
£1,981,944
15.76%
2023-24
£13,138,506
£1,912,563
14.56%
Principal risks and uncertainties
Risk of data breaches, cyber threats hampering the business’s reputation shall count for principal risks identified by the business through risk assessment and is being managed and mitigated through cyber essential certification and firewalls in place.

Supply chain disruptions caused due to untoward calamities and pandemic outbreaks may leave an impact on the revenue adversely. Operational risks encompassing technology failures and human error effect efficiencies and profitability of the business. Internal controls are imposed to minimise the occurrence of such failures and adversaries.
Signed on behalf of the board
N. Rajgor
Director
11 November 2024
Bardwood Support Services Ltd Audit Report Unqualified
Independent Auditor's Report to the members of Bardwood Support Services Ltd
Opinion
We have audited the financial statements of Bardwood Support Services Ltd (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and the Notes to the Financial Statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit
for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the accounts, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts 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 company's ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Our responsibilities and the responsibillities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based upon the work undertaken in the course of the audit:
• the information given in the strategic report and the directors' report for the financial year for which
the financial statements are prepared is consistent with the financial statements; and
• the strategic report and the directors' report 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
• adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us; or
• the 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 directors’ responsibilities statement found in the directors' report, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report 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.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.- We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.- With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the Officers.• Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business.• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.• Reviewing minutes of meetings of those charged with governance• Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.• Enquiry of management, those charged with governance around actual and potential litigation and claims. Our procedures included the following to give comfort in these areas: We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting (including related trade legislation) and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items, taking into account the inherent difficulty in detecting irregularities; the effectiveness of the entity’s controls; and the nature, timing and extent of the audit procedures performed. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the Officers and other management (as required by auditing standards), a review of contracts in place and any regulatory references.
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 the auditors report.
Use of this 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 an auditors' report 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.
Andrew Hill
Senior Statutory Auditor
For and on behalf of
Xeinadin Audit Limited
Accountants and Statutory Auditors
8th Floor
Becket House
36 Old Jewry
London
EC2R 8DD
11 November 2024
Bardwood Support Services Ltd Statement of Comprehensive Income
for the year ended 31 March 2024
Notes
2024
2023
£
£
Revenue
13,138,506
12,572,326
Cost of sales
(11,225,943)
(10,590,382)
Gross profit
1,912,563
1,981,944
Distribution costs and selling expenses
(24,240)
(18,830)
Administrative expenses
(1,717,304)
(1,410,824)
Other operating income
-
2,500
Operating profit
3
171,019
554,790
Interest payable and similar charges
6
(162,942)
(227,072)
Profit on ordinary activities before taxation
8,077
327,718
Taxation
7
-
-
Profit for the financial year after taxation
8,077
327,718
Other comprehensive income
-
-
Total comprehensive income/(loss)
8,077
327,718
Bardwood Support Services Ltd Statement of Financial Position
at
31 March 2024
Company No.
09511970
Notes
2024
2023
£
£
Fixed assets
Tangible assets
8
82,39589,303
Investments
9
8,073862
90,46890,165
Current assets
Work in Progress
10
535,907408,396
Debtors
11
2,237,7541,659,025
Cash at bank and in hand
178,157500,769
2,951,8182,568,190
Creditors: Amount falling due within one year
12
(2,951,668)
(2,435,920)
Net current assets
150132,270
Total assets less current liabilities
90,618222,435
Creditors: Amounts falling due after more than one year
13
(63,930)
(203,823)
Net assets
26,68818,612
Capital and reserves
Called up share capital
14
100100
Profit and loss account
15
26,58818,512
Total equity
26,68818,612
Approved by the board on 11 November 2024 and signed on its behalf by:
N. Rajgor
Director
11 November 2024
Bardwood Support Services Ltd Statement of Changes in Equity
for the year ended 31 March 2024
Share Capital
Retained earnings
Total equity
£
£
£
At 1 April 2022
100
(269,206)
(269,106)
Profit for the period
327,718
327,718
Dividends
(40,000)
(40,000)
At 31 March 2023 and 1 April 2023
10018,51118,611
Profit for the period
8,0778,077
At 31 March 2024
10026,58826,688
Bardwood Support Services Ltd Statement of Cash Flows
for the year ended 31 March 2024
2024
2023
£
£
Cash flows from operating activities
Operating profit
171,019
554,790
Adjustments for:
Depreciation of property, plant and equipment
20,599
17,435
Increase in work in progress
(127,511)
(67,799)
Increase in trade and other receivables
(578,729)
(118,241)
Increase in trade and other payables
340,086
346,019
Net cash (used in)/generated from operations
(174,536)
732,204
Interest paid
(162,942)
(227,073)
Net cash (used in)/generated from operating activities
(337,478)
505,131
Cash flows from investing activities
Payments for property, plant and equipment
(13,691)
(41,884)
Payments for investments
(7,211)
(862)
Net cash used in investing activities
(20,902)
(42,746)
Cash flows from financing activities
Repayment of borrowings
24,863398,424
Net cash from financing activities
24,863398,424
Net (decrease)/increase in cash and cash equivalents
(333,517)
860,809
Cash and cash equivalents at the beginning of the year
497,343
(363,466)
Cash and cash equivalents at the end of the year
163,826
497,343
Components of cash and cash equivalents
Cash and bank balances
178,157
500,769
Bank overdraft
(14,332)
(3,426)
163,825
497,343
Bardwood Support Services Ltd Notes to the Financial Statements
for the year ended 31 March 2024
1
General information
Bardwood Support Services Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 09511970
Its registered office is:
Woodland Place
Hurricane Way
Wickford
Essex
SS11 8YB
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.
663
The financial statements have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue represents amounts charged to clients for the placement of staff, calculated from the hours worked. An adjustment is made to the Balance Sheet date for hours worked but not yet billed to the client.
Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
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.
Accounting estimates
Estimates and judgements are continually evaluated and are based on historical experience and other

nce and other
factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Tangible fixed assets and depreciation
Assets held under finance leases are depreciated in the same manner as owned assets.

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery
20% reducing balance
Furniture, fittings and equipment
20% reducing balance
Work in Progress
Work in progress is stated based on hours worked at the end of the year that have been recorded, but for which invoices have not yet been raised. Allowance is made for any variances from expected hours identified by the client.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other 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.
Finance costs
Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate 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.
Interest bearing borrowings
Interest-bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.
Related parties
For the purposes of these financial statements, a party is considered to be related to the Company if:

• the party has the ability, directly or indirectly, through one or more intermediaries, to control the
Company or exercise significant influence over the company in making financial and operating policy
decisions, or has joint control over the Company;
• the Company and the party are subject to common control;
• the party is an associate of the Company or a joint venture in which the Company is a venturer;
• the party is a member of key management personnel of the Company or the Company’s parent, or a
close family member of such an individual, or is an entity under the control, joint control or
significant influence of such individuals;
• the party is a close family member of a party referred to in (i) or is an entity under the control, joint
control or significant influence of such individuals; or
• the party is a post-employment benefit plan which is for the benefit of employees of the
Company or of any entity that is a related party of the Company.

Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity.
Foreign currencies
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Operating Leases
Rentals paid under operating leases are charged to the profit and loss account of a straight line basis over the period of the lease. The lease commitment is shown within Note 13 taking in to account relevant notice periods.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and
uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial position.
3
Operating Profit
2024
2023
This is stated after charging:
£
£
Depreciation of owned fixed assets
20,599
17,435
Auditors' remuneration for:
Audit of the company's annual accounts
12,000
-
4
Staff costs
2024
2023
Staff costs during the year (including directors) were as follows:
£
£
Wages and salaries
11,471,492
10,598,311
Social security costs
768,774
727,587
Other pension costs
52,178
63,152
Total in company
12,292,444
663
11,389,050
-
-
The average monthly number of employees (including directors) during the year was:
Number
Number
Administration
17
16
Guards
662
611
Total in company
679627
5
Directors' remuneration
2024
2023
Remuneration included within staff costs - Note 4 - in respect of directors was as follows:
£
£
Aggregate remuneration in respect of qualifying services
180,000
140,000
Total remuneration
180,000
1
140,000
6
Interest payable and similar charges
2024
2023
£
£
Bank loan and overdraft interest payable
24,669
27,206
Invoice factoring
138,273
199,866
162,942227,072
7
Taxation
(a) Tax on profit on ordinary activities
2024
The tax charge is made up as follows:
£
UK corporation tax
(b) Factors affecting the total tax charge for the period
Profit on ordinary activities before tax
8,077327,718
8
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 April 2023
109,72416,984126,708
Additions
6,0237,66813,691
At 31 March 2024
115,74724,652140,399
Depreciation and impairment
At 1 April 2023
30,0247,38137,405
Charge for the year
17,1453,45420,599
At 31 March 2024
47,16910,83558,004
Net book values
At 31 March 2024
68,57813,81782,395
At 31 March 2023
79,7009,60389,303
9
Investments
Other investments - Unlisted
Total
£
£
Cost or valuation
At 1 April 2023
862
862
Additions
7,211
7,211
At 31 March 2024
8,073
8,073
Accumulated impairment
Net book values
At 31 March 2024
8,073
8,073
At 31 March 2023
862
862
Other investments
The company holds 20% or more of the share capital of the following companies:
Name of company and nature of business
Country of incorpora- tion (if not UK)
Class of shares held
% age of shares held
Capital and reserves at end of the relevant year
Profit/(loss) for the relevant year
%
£
£
Bardwood India
India
Ordinary
80
-
-
Bardwood Support Services Limited holds 80% of the share capital in Bardwood India. In the directors opinion there is no benefit to the user of these accounts to be gained by consolidation in accordance with Section 405 of the Companies Act 2006 and therefore exemption has been sought on this basis
10
Work in Progress
2024
2023
£
£
Work in progress
535,907408,396
535,907408,396
11
Debtors
2024
2023
£
£
Trade debtors
2,078,9501,613,353
Other debtors
14,05614,056
Prepayments and advance to suppliers
144,74831,616
2,237,7541,659,025
12
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and credit cards
72,087100,826
Invoice factoring
952,772748,371
Trade creditors
1,44215,838
Other taxes and social security
731,681686,810
Loans from directors
-18,324
Accruals and deferred income
1,193,686865,751
2,951,6682,435,920
The factoring provided by Lloyds Bank is secured by a fixed and floating charge over the assets of the company.
13
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Other loans
63,930203,823
63,930203,823
14
Share Capital
Called-up share capital represents the nominal value of shares that have been issued.
Nominal value
2024
2024
2023
£
Number
£
£
Allotted, called up and fully paid:
Ordinary Shares1100100100
100100
15
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
16
Reconciliation of net debt
At 1 April 2023
Cash flows
New HP/Finance leases
At 31 March 2024
£
£
£
£
Cash and cash equivalents
500,769
(322,612)
178,157
Bank overdrafts
(3,426)
(10,906)
(14,332)
497,343
(333,518)
-
163,825
Borrowings
(952,194)
(64,508)
(1,016,702)
Bank loans
(97,400)
39,645
(57,755)
(1,049,594)
(24,863)
-
(1,074,457)
Net debt
(552,251)
(358,381)
-
(910,632)
17
Commitments
Capital commitments
2024
£
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
2024
2024
2023
2023
Land and buildings
Other
Land and buildings
Other
£
£
£
£
Operating leases with expiry date:
Within one year
-
-
-
33,203
In the second to fifth years inclusive
-
34,696
-
-
-
34,696
-
33,203
18
Dividends
2024
2023
£
£
Dividends for the period:
Dividends by type:
Equity dividends
-40,000
-
40,000
19
Related party disclosures
At the balance sheet date the company was owed £124,986 (2023: £18,058) by a subsidiary company grouped under Prepayments and Advance to Suppliers.
Key management personnel
2024
2023
£
£
Controlling party
Ultimate controlling party:
The ultimate controlling party of Bardwood Support Services Limited is Emma Bardwell, a Director and majority shareholder.
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