IRIS Accounts Production v24.3.0.553 03594980 Board of Directors 1.10.23 30.9.24 30.9.24 Medium entities true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary Shares 0.10000 A Shares 0.10000 B Shares 0.10000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh035949802023-09-30035949802024-09-30035949802023-10-012024-09-30035949802022-09-30035949802022-10-012023-09-30035949802023-09-3003594980ns15:EnglandWales2023-10-012024-09-3003594980ns14:PoundSterling2023-10-012024-09-3003594980ns10:Director12023-10-012024-09-3003594980ns10:Director22023-10-012024-09-3003594980ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3003594980ns10:MediumEntities2023-10-012024-09-3003594980ns10:Audited2023-10-012024-09-3003594980ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-10-012024-09-3003594980ns10:Medium-sizedCompaniesRegimeForAccounts2023-10-012024-09-3003594980ns10:FullAccounts2023-10-012024-09-3003594980ns10:OrdinaryShareClass12023-10-012024-09-3003594980ns10:OrdinaryShareClass22023-10-012024-09-3003594980ns10:OrdinaryShareClass32023-10-012024-09-3003594980ns10:Director32023-10-012024-09-3003594980ns10:Director52023-10-012024-09-3003594980ns10:Director62023-10-012024-09-3003594980ns10:CompanySecretary12023-10-012024-09-3003594980ns10:RegisteredOffice2023-10-012024-09-3003594980ns10:Director42023-10-012024-09-3003594980ns5:CurrentFinancialInstruments2024-09-3003594980ns5:CurrentFinancialInstruments2023-09-3003594980ns5:ShareCapital2024-09-3003594980ns5:ShareCapital2023-09-3003594980ns5:FurtherSpecificReserve1ComponentTotalEquity2024-09-3003594980ns5:FurtherSpecificReserve1ComponentTotalEquity2023-09-3003594980ns5:RetainedEarningsAccumulatedLosses2024-09-3003594980ns5:RetainedEarningsAccumulatedLosses2023-09-3003594980ns5:ShareCapital2022-09-3003594980ns5:RetainedEarningsAccumulatedLosses2022-09-3003594980ns5:FurtherSpecificReserve1ComponentTotalEquity2022-09-3003594980ns5:RetainedEarningsAccumulatedLosses2022-10-012023-09-3003594980ns5:FurtherSpecificReserve1ComponentTotalEquity2022-10-012023-09-3003594980ns5:RetainedEarningsAccumulatedLosses2023-10-012024-09-3003594980ns5:FurtherSpecificReserve1ComponentTotalEquity2023-10-012024-09-300359498012023-10-012024-09-3003594980ns10:HighestPaidDirector2023-10-012024-09-3003594980ns10:HighestPaidDirector2022-10-012023-09-3003594980ns5:OwnedAssets2023-10-012024-09-3003594980ns5:OwnedAssets2022-10-012023-09-3003594980112023-10-012024-09-3003594980112022-10-012023-09-300359498012023-10-012024-09-300359498012022-10-012023-09-3003594980ns10:OrdinaryShareClass12022-10-012023-09-3003594980ns5:PlantMachinery2023-09-3003594980ns5:FurnitureFittings2023-09-3003594980ns5:PlantMachinery2023-10-012024-09-3003594980ns5:FurnitureFittings2023-10-012024-09-3003594980ns5:PlantMachinery2024-09-3003594980ns5:FurnitureFittings2024-09-3003594980ns5:PlantMachinery2023-09-3003594980ns5:FurnitureFittings2023-09-3003594980ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3003594980ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3003594980ns5:WithinOneYear2024-09-3003594980ns5:WithinOneYear2023-09-3003594980ns5:BetweenOneFiveYears2024-09-3003594980ns5:BetweenOneFiveYears2023-09-3003594980ns5:AllPeriods2024-09-3003594980ns5:AllPeriods2023-09-3003594980ns5:DeferredTaxation2023-09-3003594980ns5:DeferredTaxation2023-10-012024-09-3003594980ns5:DeferredTaxation2024-09-3003594980ns10:OrdinaryShareClass12024-09-3003594980ns10:OrdinaryShareClass22024-09-3003594980ns10:OrdinaryShareClass32024-09-3003594980ns5:RetainedEarningsAccumulatedLosses2023-09-3003594980ns5:FurtherSpecificReserve1ComponentTotalEquity2023-09-30
REGISTERED NUMBER: 03594980 (England and Wales)


















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

BETHELL UTILITY SERVICES LTD

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Financial Statements 15


BETHELL UTILITY SERVICES LTD

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTORS: T A Kilroe
N Hopkins-Coman
C M Morley
P Connolly
T Ashall



SECRETARY: N Hopkins-Coman



REGISTERED OFFICE: Dane House
Europa Park
Stoneclough Road
Kearsley
Manchester
M26 1GG



REGISTERED NUMBER: 03594980 (England and Wales)



INDEPENDENT AUDITORS: Fairhurst Audit Services Ltd
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: Lloyds Bank plc
PO Box 349
53 King Street
Manhcester
M2 2LE

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

STRATEGIC REPORT
for the Year Ended 30 September 2024

The directors present their strategic report for the year ended 30 September 2024.

ACTIVITIES
The principal activities of the Company in the year were multi utility installation covering the water, gas and electricity infrastructure to commercial and residential premises. The Company employs a high number of skilled and experienced employees from this sector.

BUSINESS REVIEW
The Company had an improved, but still challenging, trading year due to the current economic conditions with turnover increased by 11% to £22.0m (2023: £19.9m). However, there was considerable pressure on costs resulting in a lower gross margin of 12% (2023: 13%) and gross profit remained at £2.7m (2023: £2.7m). Responding to these cost pressures the Company was able to decrease its operating overheads by 13% to £2.4m (2023: £2.8m). The Company reported an operating profit of £225k (2023: loss £172k) and a profit before tax of £41k (2023: loss before tax £259k). However, interest payable did more than double to £190k (2023: £90k) due to the cost of funding the working capital requirements of the business.

This below expectation performance was in the main due to the Multi Utility (residential) part of the business experiencing far slower build progress with housing developers than experienced in previous years. Our developer customers have managed their sites more cautiously over recent years and build phase by phase as opposed to constructing large segments at a time. Recent changes in planning laws also means that the time taken to secure planning approvals for a typical development has lengthened from around six months to up to two years. In some cases, we have also seen developers that decided to delay builds on their larger sites for multiple changes in layouts and property types to try to make the sites more appealing to prospective buyers. This has been evidenced by many of the Company's new site awards in this financial year being for fewer than 50 units.

More positively, the Company's expansion into the electric vehicle charging arena continued well, with the business now a leading independent connections provider and a national operator. This in itself has brought challenges, such as the management of subcontractors and working with unfamiliar local authorities and distribution network operators. During 2024 the Company has been able to build a solid client base of some ten charge point operators who will continue to award work if the Company maintains its record for on time and on budget project deliveries. In the year the Company also experienced delays on some such projects due to protracted resolution of issues with land ownership, property access, easements, wayleaves and supply connections.

The Company's newest workstream, Industrial and Commercial gained a local foothold in 2024 with the award of some exciting projects in Manchester, Liverpool and surrounding towns. To ensure the successful delivery of these projects, the Company has tailored its operational structure to ensure delivery and client satisfaction to secure repeat work. The Company has also benefitted from the groupwide business development team and aims to secure high rise building projects and larger commercial units in 2024.

PRINCIPAL RISKS AND UNCERTAINTIES
In common with similar businesses, the Company faces several risks and uncertainties going forward into 2025 and the directors believe that the key business risks are in respect of competition from UK Multi-Utility businesses and in ensuring safe and to budget project delivery. In view of these risks and uncertainties, the directors are aware that the development of the Company may be affected by factors outside their control, such as, high interest rates, downturn in sales, lenders reacting to uncertainty about demand and the cost of financing which ultimately could cause developers to postpone new developments.

In mitigation of these risks the Company works with a wide variety of developers that specialise in social and affordable housing where, even in the event of a downturn in the private sector, the demand for social housing could be more resilient or even increase.


BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

STRATEGIC REPORT
for the Year Ended 30 September 2024

FUTURE DEVELOPMENTS
The directors anticipate the economic conditions in the UK, particularly relevant being the depressed residential housing market, will present a challenging year again in 2025. However, certain sectors of the Company's business, such as green energy and electrical vehicle charging, remain a strong growth area. The Company is widely recognised as a partner of choice for independent connection operations in the North West, with a diversified the client in residential housing, green energy and the industrial & commercial arenas.

FINANCIAL INSTRUMENTS
The Company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are only conducted in sterling. The Company does not enter into any hedging transactions.

ON BEHALF OF THE BOARD:





C M Morley - Director


18 December 2024

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

REPORT OF THE DIRECTORS
for the Year Ended 30 September 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activities of the company in the year were that of multi utility installation covering the water, gas and electricity infrastructure to commercial and residential premises, often providing a turnkey solution. The Company employs a number of skilled and experienced employees from the multi-utility sector. No changes in activities is anticipated in the foreseeable future.

DIVIDENDS
No dividends will be distributed for the year ended 30 September 2024.

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

T A Kilroe
N Hopkins-Coman
C M Morley
P Connolly
T Ashall

Other changes in directors holding office are as follows:

G C Watson - resigned 20 December 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 of the profit or loss of the company 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 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 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 company'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 company's auditors are aware of that information.

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

REPORT OF THE DIRECTORS
for the Year Ended 30 September 2024


AUDITORS
The auditors, Fairhurst Audit Services Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C M Morley - Director


18 December 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BETHELL UTILITY SERVICES LTD

Opinion
We have audited the financial statements of Bethell Utility Services Ltd (the 'company') for the year ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and 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 the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 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 Auditors' 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 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 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 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.

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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BETHELL UTILITY SERVICES LTD


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 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, 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 Statement of Directors' Responsibilities set out on page four, 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BETHELL UTILITY SERVICES LTD


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:

Extent to which the audit was considered capable of detecting irregularities including fraud
Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect in the determination of material amounts and disclosures in the financial statement, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatements of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and addressing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. As a result of these procedures we consider that the most significant laws and regulations that have a direct impact on the financial statements are FRS 102 and the Companies Act 2006.
- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing minutes of meetings and inspecting legal correspondence.

In assessing the susceptibility of the company's financial statements to material misstatement, including obtaining and understanding of how fraud might occur;
- We gained an understanding of the controls that management have in place to prevent and detect fraud.
- We enquired of management about any instances of fraud that had taken place during the year.

To address the risk of fraud through management bias and override of controls;
- We performed analytical procedures to identify any unusual or unexpected relationships;
- We tested journal entries to identify unusual transactions; and
- We assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BETHELL UTILITY SERVICES LTD


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.

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.




Louise Webster BSc BFP ACA (Senior Statutory Auditor)
for and on behalf of Fairhurst Audit Services Ltd
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

18 December 2024

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

INCOME STATEMENT
for the Year Ended 30 September 2024

2024 2023
Notes £    £   

TURNOVER 22,010,370 19,876,891

Cost of sales 19,335,755 17,226,203
GROSS PROFIT 2,674,615 2,650,688

Administrative expenses 2,449,387 2,822,735
OPERATING PROFIT/(LOSS) 5 225,228 (172,047 )

Interest receivable and similar income 6,016 3,217
231,244 (168,830 )

Interest payable and similar expenses 6 190,110 90,258
PROFIT/(LOSS) BEFORE TAXATION 41,134 (259,088 )

Tax on profit/(loss) 7 9,013 (41,222 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

32,121

(217,866

)

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

OTHER COMPREHENSIVE INCOME
for the Year Ended 30 September 2024

2024 2023
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 32,121 (217,866 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

32,121

(217,866

)

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 95,472 144,880

CURRENT ASSETS
Stocks 10 396,707 524,055
Debtors 11 7,968,395 7,900,650
Cash at bank 660,109 544,694
9,025,211 8,969,399
CREDITORS
Amounts falling due within one year 12 8,332,303 8,362,601
NET CURRENT ASSETS 692,908 606,798
TOTAL ASSETS LESS CURRENT
LIABILITIES

788,380

751,678

PROVISIONS FOR LIABILITIES 14 14,284 9,703
NET ASSETS 774,096 741,975

CAPITAL AND RESERVES
Called up share capital 15 100 100
Other reserves 16 99,900 99,900
Retained earnings 16 674,096 641,975
SHAREHOLDERS' FUNDS 774,096 741,975

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2024 and were signed on its behalf by:





T A Kilroe - Director


BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

STATEMENT OF CHANGES IN EQUITY
for the Year Ended 30 September 2024

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 October 2022 100 959,841 99,900 1,059,841

Changes in equity
Dividends - (100,000 ) - (100,000 )
Total comprehensive income - (217,866 ) - (217,866 )
Balance at 30 September 2023 100 641,975 99,900 741,975

Changes in equity
Total comprehensive income - 32,121 - 32,121
Balance at 30 September 2024 100 674,096 99,900 774,096

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

CASH FLOW STATEMENT
for the Year Ended 30 September 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 21 244,613 333,868
Interest paid (190,110 ) (90,258 )
Tax refunded / (paid) 71,812 (113,821 )
Net cash from operating activities 126,315 129,789

Cash flows from investing activities
Purchase of tangible fixed assets (16,916 ) (100,761 )
Sale of tangible fixed assets - 21,892
Interest received 6,016 3,217
Net cash from investing activities (10,900 ) (75,652 )

Cash flows from financing activities
Equity dividends paid - (100,000 )
Net cash from financing activities - (100,000 )

Increase/(decrease) in cash and cash equivalents 115,415 (45,863 )
Cash and cash equivalents at beginning of
year

22

544,694

590,557

Cash and cash equivalents at end of year 22 660,109 544,694

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Bethell Utility Services Ltd 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and key areas of uncertainty
Preparation of the financial statements require management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been include:

-Depreciation and residual values. The directors have reviewed the asset lives and associated residual value of
all fixed asset classes, and in particular, the useful economic life and residual values of leasehold buildings
and fixtures and fittings, and have concluded that the asset lives and residual values are appropriate; and
-The stage of completion as referenced in the turnover policy where the directors make use of the information
available to them at the balance sheet date to formulate their calculation, including external certification of
the work completed (if applicable).

Turnover
Turnover is based on the invoiced value of all goods despatched and services provided prior to the period end, excluding VAT and other sales-based taxes and net of trade discounts.
Turnover also includes the proportion of the sales value of long-term contracts relevant to their state of completion. The turnover and pre-tax profit, all of which arises in the United Kingdom, is attributable to the principal activity of the Company.

Tangible fixed assets
Tangible fixed assets are stated at historic cost. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. Finance costs are not capitalised. Depreciation is provided on cost in equal instalments over the estimated useful lives of the assets. The rate of depreciation are as follows:

Plant and Machinery2-5 years
Fixtures and fittings3-10 years
Motor vehicles3-5 years

Stocks
Stocks are valued at the lower of cost, including materials, direct labour & overhead, and net realisable value.

Financial instruments
Short term debtors and amounts recoverable on contracts are measured at transaction price, less any impairment. Short term trade creditors are measured at the transaction price. The following assets & liabilities are classified as financial instruments; trade debtors (including amounts recoverable on contracts), Directors' loan accounts, trade creditors, accruals & hire purchase agreements are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial.


BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

Amounts recoverable on contracts
In respect of long term contracts, the attributable profit is recognised once the final outcome can be assessed with reasonable certainty and reflects the proportion of work completed to date on the project. Full provision is made for losses on any contract in the period the loss is first foreseen. The difference between work done and invoices raised on a contract is recognised as amounts recoverable on contracts. Any excess payments on account over and above the value of work done are included within creditors. Any bid costs or tender costs are expensed as incurred until the stage is reached when it is virtually certain that the contract will be won.

Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they occur.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Preparation of the financial statements require management to make significant judgements and estimates. the items in the financial statements where these judgements and estimates have been made include:
-Depreciation and residual value. the directors have reviewed the asset lives and associated residual values of
-The stage of completion as noted in the turnover policy is subject to estimation and judgement and the directors make use of the information available to them at the balance sheet date to formulate their calculation, this information often involves external certification of the work completed.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,340,502 4,131,885
Social security costs 353,797 442,735
Other pension costs 248,754 308,218
3,943,053 4,882,838

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

4. EMPLOYEES AND DIRECTORS - continued

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

Direct Labour 28 41
Contracting supervision & admin 48 51
76 92

2024 2023
£    £   
Directors' remuneration 302,996 401,242
Directors' pension contributions to money purchase schemes 68,358 124,090

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 3

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 141,173 148,393
Pension contributions to money purchase schemes 21,134 70,374

5. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

2024 2023
£    £   
Other operating leases 111,847 77,127
Depreciation - owned assets 66,324 62,130
Auditors' remuneration 8,000 8,000
Taxation compliance services 12,000 12,000
Other non- audit services 1,000 1,000
Rentals for short term hire of plant and machinery 1,020,243 714,429

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 5,419 -
Other loan interest 184,691 90,258
190,110 90,258

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

7. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 4,432 (39,273 )

Deferred tax 4,581 (1,949 )
Tax on profit/(loss) 9,013 (41,222 )

UK corporation tax has been charged at 25% (2023 - 22%).

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

2024 2023
£    £   
Profit/(loss) before tax 41,134 (259,088 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 22%)

10,284

(56,999

)

Effects of:
Expenses not deductible for tax purposes 5,000 2,200
Depreciation in excess of capital allowances 20,155 7,466
Adjustments to tax charge in respect of previous periods (26,426 ) 6,111
Total tax charge/(credit) 9,013 (41,222 )

8. DIVIDENDS
2024 2023
£    £   
Ordinary Shares shares of £0.10 each
Interim - 100,000

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

9. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 October 2023 139,545 211,335 350,880
Additions 1,750 15,166 16,916
At 30 September 2024 141,295 226,501 367,796
DEPRECIATION
At 1 October 2023 75,566 130,434 206,000
Charge for year 31,157 35,167 66,324
At 30 September 2024 106,723 165,601 272,324
NET BOOK VALUE
At 30 September 2024 34,572 60,900 95,472
At 30 September 2023 63,979 80,901 144,880

10. STOCKS
2024 2023
£    £   
Raw materials 396,707 524,055

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,935,254 3,100,051
Amounts recoverable on contracts 5,899,080 4,671,245
Tax - 45,386
VAT 32,370 -
Prepayments and accrued income 101,691 83,968
7,968,395 7,900,650

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account 3,272,977 3,277,018
Trade creditors 2,031,299 2,268,323
Amounts owed to group undertakings 2,591,513 2,024,538
Tax 30,858 -
Social security and other taxes 108,742 253,999
Other creditors 113,299 107,545
Accrued expenses 183,615 431,178
8,332,303 8,362,601

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 18,830 18,830
Between one and five years 10,635 29,516
29,465 48,346

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 14,284 9,703

Deferred
tax
£   
Balance at 1 October 2023 9,703
Provided during year 4,581
Balance at 30 September 2024 14,284

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
800 Ordinary Shares £0.10 80 80
100 A Shares £0.1 10 10
100 B Shares £0.1 10 10
100 100

The 10p A Shares and the 10p B Shares rank pari passu in all respects with each other and the 10p Ordinary Shares with the exception of: (1)the appointment of directors - the A and B Shareholders combined are entitled to jointly appoint three directors whereas the Ordinary Shareholders are entitled to jointly appoint up to four directors; and (2) the A and B shares have different rights to the Ordinary Shares in the event of a capital distribution, as set out in the Articles of Association.

16. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 October 2023 641,975 99,900 741,875
Profit for the year 32,121 - 32,121
At 30 September 2024 674,096 99,900 773,996

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

17. ULTIMATE PARENT COMPANY

The ultimate parent undertaking is Bethell Group Holdings Limited, which is the smallest and largest group to consolidate these financial statements. Copies of these financial statements can be obtained from the Company secretary, Bethell Group Holdings Limited, Dane House, Europa Park, Stoneclough Road, Kearsley, Greater Manchester, M26 1GE . The ultimate controlling party of the Bethell Group Holdings Limited is the T Kilroe Life Interest Settlement which is a trust whose principal beneficiary is T Kilroe.

18. CONTINGENT LIABILITIES

The company's bankers hold an unlimited cross guarantee dated 17th August 2021 between certain members of the Bethell group of companies. There is also a supplemental fixed charge on book debts and other debts. At the year-end the Company had a contingent liability under this cross guarantee amount to £nil (2023: £nil).

19. FINANCIAL COMMITMENTS

Pension Commitment

The Company operates one pension scheme for its employees and also a fellow group company operates a scheme on behalf of the company for some of the Company's staff. In both cases the assets of the schemes are held separately from those of the company in independently administered funds. The amounts owing to the fellow subsidiary and the pension scheme at the year-end by the Company was £25,724 (2023: £31,974), including employer contributions of £18,480 (2023: £22,567).

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

20. RELATED PARTY DISCLOSURES

During the year the company transacted purchases and sales with Bethell Construction Ltd ("BCL"), which is a related party being a member of the Bethell Group Holdings ltd group of companies. Details are as follows

20242023
£   £   
Sales to BCL299,3306,438
Purchases from BCL72,158266,961
Purchases/Cost recharges from BUSL1,445,143882,864
Balance outstanding at year end included within creditors1,482,46236,371

Sales were principally re-charges of sub-contracting activities where BCL, was the Company's customer and purchases were re-charges of costs incurred by BCL on behalf of the Company including payroll, materials and plant.

During the year the Company transacted purchases and cost recharges from Bethell Group plc ("BGP") which is a related party being a member of the Bethell Group Holdings Ltd group of companies. Details are as follows:

20242023
£   £   
Sales to BGP196,93061,215
Purchases325,56011,506
Cost recharges129,899192,000
Balance outstanding at year end included within creditors503,737500,000

Purchases were re-charges of costs incurred by BGP on behalf of the company including management charges, professional fees, rents and rates.

In the year to 2023 the Company received a loan from Bethell Property Services Ltd ("BETPRO") which is a related party being a member of the Bethell Group Holdings Ltd group of companies, this remains the same in 2024.. Details are as follows:

20242023
£   £   
Balance outstanding at year end included within creditors554,069550,000

During the year the Company transacted purchases from Bethell Plant Services Ltd ("BETPLA") which is a related party being a member of the Bethell Group Holdings Ltd group of companies. Details are as follows:

20242023
£   £   
Purchases from BETPLA309,907201,429

Purchases were principally costs incurred by the Company on plant hire from BETPLA.

BETHELL UTILITY SERVICES LTD (REGISTERED NUMBER: 03594980)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

21. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit/(loss) before taxation 41,134 (259,088 )
Depreciation charges 66,324 62,130
Finance costs 190,110 90,258
Finance income (6,016 ) (3,217 )
291,552 (109,917 )
Decrease/(increase) in stocks 127,348 (146,955 )
Increase in trade and other debtors (113,131 ) (1,304,326 )
(Decrease)/increase in trade and other creditors (61,156 ) 1,895,066
Cash generated from operations 244,613 333,868

22. 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 30 September 2024
30/9/24 1/10/23
£    £   
Cash and cash equivalents 660,109 544,694
Year ended 30 September 2023
30/9/23 1/10/22
£    £   
Cash and cash equivalents 544,694 590,557


23. ANALYSIS OF CHANGES IN NET FUNDS

At 1/10/23 Cash flow At 30/9/24
£    £    £   
Net cash
Cash at bank 544,694 115,415 660,109
544,694 115,415 660,109
Total 544,694 115,415 660,109