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REGISTERED NUMBER: 14616596 (England and Wales)















Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements

for the Period 25 January 2023 to 31 March 2024

for

Beech Group Holdings Limited

Beech Group Holdings Limited (Registered number: 14616596)






Contents of the Consolidated Financial Statements
for the Period 25 January 2023 to 31 March 2024





Page


Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 8

Consolidated Statement of Financial Position 9

Company Statement of Financial Position 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Statement of Cash Flows 13

Notes to the Consolidated Statement of Cash Flows 14

Notes to the Consolidated Financial Statements 15


Beech Group Holdings Limited

Company Information
for the Period 25 January 2023 to 31 March 2024







DIRECTORS: C D Jellicoe
M Kerwin
G Vaughan
R M Tan





REGISTERED OFFICE: The Foundry Business Centre
Marcus Street
Birkenhead
Wirral
CH41 1EU





REGISTERED NUMBER: 14616596 (England and Wales)





INDEPENDENT AUDITORS: Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

Beech Group Holdings Limited (Registered number: 14616596)

Group Strategic Report
for the Period 25 January 2023 to 31 March 2024

The directors present their strategic report for the parent company and the group for the period running from 25 January 2023 to 31 March 2024.

REVIEW OF BUSINESS
We aim to present a balanced and comprehensive review of the development of the business during the period and its position as at 31 March 2024. Our review is consistent with that of a business of similar size and complexity and is written in the context of the risks and uncertainties the group faces.

The parent company was incorporated on 25 January 2023 and acquired 100% of the share capital in Marley Wainwright Limited, the 100% parent entity of John Beech Limited, on 3 April 2023. The principal activity of the group, as a result, is industrial demolition and other related services

The group recorded a profit before tax of £6,309,300. The directors are pleased with the continued expansion of sales in a challenging market, with the revenue of John Beech Limited, the sole trading entity within the group, increasing from £12,735,540 to £18,648,698. The group will continue to focus on its range of services in the forthcoming year to drive continued growth.

PRINCIPAL RISKS AND UNCERTAINTIES
Due to John Beech Limited being the only trading within the group, the performance of the entity is considered the principal risk for the parent company. The principal risks existing in respect of operations of the group is the potential loss of customers and legal claims for any health and safety breaches due to the nature of the work performed. The risk of the loss of revenue as a result of a loss of customers is addressed through maintaining strong customer relationships and ensuring pricing remains competitive in the market. Health and safety risks are addressed through regular training courses for our staff and a focus on ensuring health and safety guidelines are followed at all times.

KEY PERFORMANCE INDICATORS
Below are the key financial performance indicators used by the director when considering the performance of the group for the period. Given the nature of the business, non-financial performance indicators offer minimal value when assessing the performance of the group for the year, as such these are not considered.


Period Ended
31.3.24

Group turnover £18,648,698
Gross profit margin 52.4%
Profit before tax £6,309,300
EBITDA £7,432,031

Cash position £2,469,227
Current ratio 1.51

ON BEHALF OF THE BOARD:





G Vaughan - Director


24 January 2025

Beech Group Holdings Limited (Registered number: 14616596)

Report of the Directors
for the Period 25 January 2023 to 31 March 2024

The directors present their report with the financial statements of the parent company and the group for the period 25 January 2023 to 31 March 2024.

The parent company was incorporated on 25 January 2023 and the group was created on the 3 April 2024 when the parent company acquired a 100% share in Marley Wainwright Limited, the parent entity of John Beech Limited.

INCORPORATION
The group was incorporated on 25 January 2023 .

DIVIDENDS
The total distribution of dividends for the period ended 31 March 2024 will be £48,375.

EVENTS SINCE THE END OF THE PERIOD
Information relating to events since the end of the period is given in the notes to the financial statements.

DIRECTORS
The directors who have held office during the period from 25 January 2023 to the date of this report are as follows:

C Jones - appointed 3 April 2023 - resigned 31 March 2024
C D Jellicoe - appointed 3 April 2023
M Kerwin - appointed 3 April 2023
G Vaughan - appointed 3 April 2023
P Gilfoyle - appointed 3 April 2023 - resigned 31 March 2024

R M Tan was appointed as a director after 31 March 2024 but prior to the date of this report.

All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have prepared the group and the parent company financial statements in accordance with United Kingdom generally accepted accounting practice (United Kingdom Accounting Standards, comprising FRS 102 ‘The financial reporting standard applicable in the UK and Republic of Ireland’, and applicable law).

Under company law, 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 group and parent company and of the profit or loss of the group for that period. In preparing the financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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 parent company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the parent 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 parent company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Beech Group Holdings Limited (Registered number: 14616596)

Report of the Directors
for the Period 25 January 2023 to 31 March 2024


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.

AUDITORS
The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





G Vaughan - Director


24 January 2025

Report of the Independent Auditors to the Members of
Beech Group Holdings Limited

Opinion
We have audited the financial statements of Beech Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 March 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 group's and of the parent company affairs as at 31 March 2024 and of the group's profit for the period 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 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 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 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.

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.

Report of the Independent Auditors to the Members of
Beech Group Holdings Limited


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.

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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the parent company and group and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the parent company and group, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principle risks were related to inflated revenue and profit.

Report of the Independent Auditors to the Members of
Beech Group Holdings Limited

Audit procedures performed included:

- review of the financial statement disclosures to underlying supporting documentation;
- review of any correspondence with legal advisors, and enquiries of management and those charged with
governance around actual and potential litigation and claims;
- enquiries with group's staff to identify any instances with non-compliance with laws and regulations;
- enquiries of management and review of monthly management accounts and reports in so far as they related to
the financial statements;
- testing of journals and evaluating, whether there was evidence of bias by the directors that represented a risk of
material misstatement due to fraud, and evaluating the business rationale of significant transactions outside the
normal course of business;
- undertaking detailed substantive testing of material items and a sample of other items;
- consideration of the reasonableness of the figures and analytical review, including comparison with previous
years and expected trends; and
- review of the compliance with and effectiveness of internal controls.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through 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.

Use of our report
This report is made solely to the parent company's and group'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 parent company's and group'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 parent company and group and the parent company's and group's members as a body, for our audit work, for this report, or for the opinions we have formed.




Timothy Cherry FCCA (Senior Statutory Auditor)
for and on behalf of Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

24 January 2025

Beech Group Holdings Limited (Registered number: 14616596)

Consolidated Statement of Comprehensive Income
for the Period 25 January 2023 to 31 March 2024

Notes £

TURNOVER 3 18,648,698

Cost of sales 8,884,684
GROSS PROFIT 9,764,014

Administrative expenses 1,343,671
8,420,343

Other operating income 86,796
OPERATING PROFIT 5 8,507,139

Profit/loss on sale of operatn 6 1,432,900
7,074,239


Interest payable and similar expenses 7 764,939
PROFIT BEFORE TAXATION 6,309,300

Tax on profit 8 1,680,261
PROFIT FOR THE FINANCIAL PERIOD 4,629,039

Beech Group Holdings Limited (Registered number: 14616596)

Consolidated Statement of Financial Position
31 March 2024

Notes £ £
FIXED ASSETS
Intangible assets 11 1,953,504
Tangible assets 12 988,716
Investments 13 -
2,942,220

CURRENT ASSETS
Stocks 14 6,000
Debtors 15 3,023,349
Cash at bank 2,469,227
5,498,576
CREDITORS
Amounts falling due within one year 16 3,639,001
NET CURRENT ASSETS 1,859,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,801,795

CREDITORS
Amounts falling due after more than one
year

17

(68,012

)

PROVISIONS FOR LIABILITIES 21 (153,019 )
NET ASSETS 4,580,764

CAPITAL AND RESERVES
Called up share capital 22 100
Retained earnings 23 4,580,664
SHAREHOLDERS' FUNDS 4,580,764

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





G Vaughan - Director


Beech Group Holdings Limited (Registered number: 14616596)

Company Statement of Financial Position
31 March 2024

Notes £ £
FIXED ASSETS
Intangible assets 11 -
Tangible assets 12 -
Investments 13 3,002,011
3,002,011

CURRENT ASSETS
Debtors 15 193,277

CREDITORS
Amounts falling due within one year 16 3,195,188
NET CURRENT LIABILITIES (3,001,911 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

100

CAPITAL AND RESERVES
Called up share capital 22 100
SHAREHOLDERS' FUNDS 100

Company's profit for the financial year 48,375

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





G Vaughan - Director


Beech Group Holdings Limited (Registered number: 14616596)

Consolidated Statement of Changes in Equity
for the Period 25 January 2023 to 31 March 2024

Called up
share Retained Total
capital earnings equity
£ £ £

Changes in equity
Issue of share capital 100 - 100
Dividends - (48,375 ) (48,375 )
Total comprehensive income - 4,629,039 4,629,039
Balance at 31 March 2024 100 4,580,664 4,580,764

Beech Group Holdings Limited (Registered number: 14616596)

Company Statement of Changes in Equity
for the Period 25 January 2023 to 31 March 2024

Called up
share Retained Total
capital earnings equity
£ £ £

Changes in equity
Issue of share capital 100 - 100
Dividends - (48,375 ) (48,375 )
Total comprehensive income - 48,375 48,375
Balance at 31 March 2024 100 - 100

Beech Group Holdings Limited (Registered number: 14616596)

Consolidated Statement of Cash Flows
for the Period 25 January 2023 to 31 March 2024

Notes £
Cash flows from operating activities
Cash generated from operations 1 6,863,376
Interest paid (749,371 )
Interest element of hire purchase payments
paid

(15,568

)
Tax paid (257,494 )
Net cash from operating activities 5,840,943

Cash flows from investing activities
Purchase of tangible fixed assets (58,014 )
Purchase of controlling interest (2,564,154 )
Sale of tangible fixed assets 41,333
Net cash from investing activities (2,580,835 )

Cash flows from financing activities
New loans in the period 3,120,108
Loan repayments in the period (3,897,378 )
Early repayment fees (23,499 )
Capital repayments in the period (56,902 )
Amount introduced by directors 115,165
Equity dividends paid (48,375 )
Net cash from financing activities (790,881 )

Increase in cash and cash equivalents 2,469,227
Cash and cash equivalents at beginning of
period

2

-

Cash and cash equivalents at end of
period

2

2,469,227

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Statement of Cash Flows
for the Period 25 January 2023 to 31 March 2024

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

£
Profit before taxation 6,309,300
Depreciation charges 140,750
Profit on disposal of fixed assets (2,598 )
Amortisation charge 217,042
Unwinding of deferred consideration 80,142
Early loan repayment fees 23,499
Loan arrangement fees 106,035
Finance costs 764,939
7,639,109
Increase in stocks (2,000 )
Decrease in trade and other debtors 529,402
Decrease in trade and other creditors (1,303,135 )
Cash generated from operations 6,863,376

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Period ended 31 March 2024
31.3.24 25.1.23
£ £
Cash and cash equivalents 2,469,227 -


3. ANALYSIS OF CHANGES IN NET FUNDS

At 25.1.23 Cash flow At 31.3.24
£ £ £
Net cash
Cash at bank - 2,469,227 2,469,227
- 2,469,227 2,469,227
Debt
Finance leases - (106,133 ) (106,133 )
- (106,133 ) (106,133 )
Total - 2,363,094 2,363,094

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements
for the Period 25 January 2023 to 31 March 2024

1. STATUTORY INFORMATION

Beech Group Holdings 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.

Financial Reporting Standard 102 - reduced disclosure exemptions
The group has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirement of paragraph 33.7.

Basis of consolidation
The consolidated group financial statement consist of the financial statements of the parent company, Beech Group Holdings Limited, together with its subsidiary undertakings, Marley Wainwright Limited and John Beech Limited.

The financial statements for both the parent company and John Beech Limited have been drawn up to 31 March 2024, whilst the financial statements for Marley Wainwright Limited have been drawn up to 30 April 2024. Where necessary, adjustments have been made to the financial statements of the subsidiary undertakings to bring the accounting policies used and accounting periods in line with those used by the parent company.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group's financial statements from the date control commences until the date that control ceases.

Going concern
The financial statements have been prepared on a going concern basis. In determining the appropriate basis of preparation for the financial statements, the directors are required to consider whether the group can continue in operational existence for the foreseeable future.

After the review of the budget and predictions for a period of at least 12 months from the date of approval of these financial statements, and having considered the uncertainties prevalent when making predictions of future events, the directors are of the opinion that the group has adequate resources to continue in operational existence for the foreseeable future.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements and estimates are deemed to be those which have had the most significant effects on those amounts recognised within the financial statements:

Accrued income
On average, projects take 2 weeks to complete from the date the work has commenced until sign off of the project. As a result of this, this gives rise to a period around the period end where work will have been completed and the risks and rewards are deemed to have transferred, but as the work is not fully completed, the works have not been invoiced to the customer. In determining the level of accrued income generated at the period end, management have assessed that revenue will accrue at a consistent rate over the average 2 week period of the project. This assumption has then been used to calculate the accrued income generated at the period end.

Depreciation
Depreciation rates in respect of the fixed assets held by the group are intended to reflect management's expectation of the useful economic life of those assets based on both historical experience as well as other external information.

Discounting of financial instruments
Where the group enters into non-basic financial instrument, the directors estimate the effective interest rate attributable to the financing arrangement. This is done with consideration of internal and external data, including interest rates incurred on similar financing arrangements.

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales relates taxes. The fair value of consideration takes into account trade discount, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of goods), the amount of turnover can measured reliably, it is probably that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and material, as a proportion of total costs. Where the outcome cannot be estimated reliably, turnover is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Goodwill
Goodwill recognised represents the excess of the fair value and directly attributable costs of the purchase consideration over the fair values to the group’s interest in the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the Statement of Comprehensive Income.

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 each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 33% on cost

All tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation and any impairment losses.

Gains and losses arising on the disposal of an asset are determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss as the gain or loss arises.

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are recognised in profit or loss.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The parent company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the parent company's Statement of Financial Position when the parent company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and cash equivalents, are initially measured at transaction price, including transaction costs, and are then subsequently carried at amortised cost using the effective interest method, less provision for impairment, unless arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future lease receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The parent company's cash and cash equivalents, trade and other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying value amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the parent company after the deduction of its liabilities.

Basic financial instruments, which include trade and other payables and bank loans are initially measured at their transaction price after transaction costs. When this constitute a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities.

Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flows expire, or are settled, or when the parent company transfers the asset and substantially all of the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the parent company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities
Financial liabilities are derecognised when the parent company's contractual obligations expire, are discharged or cancelled.

3. TURNOVER

31.3.24
£   
Demolition and related works 18,648,698

Demolition and related works if formed of asbestos, scaffolding, remediation and demolition works solely performed within the United Kingdom.

4. EMPLOYEES AND DIRECTORS

31.3.24
£
Wages and salaries 2,417,827
Social security costs 228,358
Other pension costs 47,761
2,693,946

The average number of employees during the period was as follows:

31.3.24

Admin and demolition staff 51

The average number of employees by undertakings that were proportionately consolidated during the period was 51.

£
Directors' remuneration 329,604
Directors' pension contributions to money purchase schemes 6,161

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

4. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director is as follows:
£
Emoluments etc 79,550
Pension contributions to money purchase schemes 991

5. OPERATING PROFIT

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

£
Depreciation - owned assets 140,750
Profit on disposal of fixed assets (2,598 )
Goodwill amortisation 217,042
Auditors' remuneration 20,500
Unwinding of deferred consideration 80,142
Early loan repayment fees 23,499
Loan arrangement fees 106,035

6. EXCEPTIONAL ITEMS
£
Exceptional items 1,432,900
Profit/loss on sale of operatn (1,432,900 )

7. INTEREST PAYABLE AND SIMILAR EXPENSES
£
Bank interest 2,074
Bank loan interest 744,983
Late repayment interest 2,271
Hire purchase 15,611
764,939

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
£
Current tax:
UK corporation tax 1,747,146
Adjustment in relation to prio r periods (49,628 )
Total current tax 1,697,518

Deferred tax (17,257 )
Tax on profit 1,680,261

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

8. TAXATION - continued

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

£
Profit before tax 6,309,300
Profit multiplied by the standard rate of corporation tax in the UK of 25
%

1,577,325

Effects of:
Expenses not deductible for tax purposes 81,503
Income not taxable for tax purposes (50,277 )
Depreciation in excess of capital allowances 88,967
Deferred taxation (17,257 )
Total tax charge 1,680,261

9. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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.


10. DIVIDENDS

Total dividends for the period ended 31 March 2024 will be £48,375.

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£
COST
Additions 2,170,546
At 31 March 2024 2,170,546
AMORTISATION
Amortisation for period 217,042
At 31 March 2024 217,042
NET BOOK VALUE
At 31 March 2024 1,953,504

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

12. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
COST
Additions 710,000 373,760 887
Disposals - - -
At 31 March 2024 710,000 373,760 887
DEPRECIATION
Charge for period 16,136 112,128 887
Eliminated on disposal - - -
At 31 March 2024 16,136 112,128 887
NET BOOK VALUE
At 31 March 2024 693,864 261,632 -

Motor Computer
vehicles equipment Totals
£ £ £
COST
Additions 82,830 724 1,168,201
Disposals (48,890 ) - (48,890 )
At 31 March 2024 33,940 724 1,119,311
DEPRECIATION
Charge for period 11,599 - 140,750
Eliminated on disposal (10,155 ) - (10,155 )
At 31 March 2024 1,444 - 130,595
NET BOOK VALUE
At 31 March 2024 32,496 724 988,716

Included within additions in the period are the assets acquired on the purchase of the controlling interest in Marley Wainwright Limited. Those assets acquired have been assessed to determine their fair value at the acquisition date and the directors have concluded, with the exception of the freehold property, that the net book value of the assets at the acquisition date are materially consistent with their fair value.

The freehold property has been recognised at market value subject to vacant possession, with the valuation being performed by a RICS qualified valuer. Please see note 27 for further detail.

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£
COST
Additions 3,002,011
At 31 March 2024 3,002,011
NET BOOK VALUE
At 31 March 2024 3,002,011

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Marley Wainwright Limited
Registered office:
Nature of business: Holding company
%
Class of shares: holding
Ordinary shares 100.00
30.4.24
£
Aggregate capital and reserves 81
Profit for the year 241,633

John Beech Limited
Registered office:
Nature of business: Industrial demolition services
%
Class of shares: holding
Ordinary shares 100.00
31.3.24
£
Aggregate capital and reserves 5,384,827
Profit for the period 3,614,014


14. STOCKS


Group
£
Stocks 6,000

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group Company
£ £
Trade debtors 2,692,970 -
Amounts owed by group undertakings - 193,177
Other debtors 5,754 -
Called up share capital not paid 100 100
Prepayments 324,525 -
3,023,349 193,277

Amounts owed by group undertakings are unsecured, interest-free loans which are repayable on demand.

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group Company
£ £
Hire purchase contracts (see note 18) 38,121 -
Trade creditors 667,542 -
Amounts owed to group undertakings - 2,775,194
Amounts owed to participating interests 412,794 412,994
Tax 1,558,189 -
Social security and other taxes 72,031 -
VAT 774,240 -
Other creditors 20,584 -
Accrued expenses 95,500 7,000
3,639,001 3,195,188

Amounts owed to group undertakings are unsecured, interest-free loans which are repayable on demand.

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


Group
£
Hire purchase contracts (see note 18) 68,012

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire
purchase
contracts
£
Net obligations repayable:
Within one year 38,121
Between one and five years 68,012
106,133

19. SECURED DEBTS

HSBC UK Bank Plc previously held a charge over the freehold property known as the Foundry, Marcus Street, Birkenhead. This charge was satisfied on 6 April 2023 as part of Beech Group Holdings Limited's acquisition of the controlling interest in Marley Wainwright Limited.

Midland Bank Plc also previously held fixed and floating charges over the undertakings and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixtures fixed plant and machinery. This charge too was satisfied on the 6 April 2023.

On 6 April 2023, a new charge was issued by SME Lending Limited over the freehold property known as the Foundry, Marcus Street, Birkenhead as well as fixed and floating charges over the undertakings and all property and assets present and future including present and future goodwill, bookdebts, uncalled capital, investments, intellectual property, buildings, fixtures, fixed plant and machinery and all charged accounts. This was charge was satisfied on 26 April 2024.

20. FINANCIAL INSTRUMENTS

Group Company
£    £   

Financial liabilities
Financial liabilities measured at fair value through profit or loss 412,994 412,994

Financial liabilities measured at fair value consist of deferred consideration payable to the former majority shareholders of Marley Wainwright Limited.

21. PROVISIONS FOR LIABILITIES


Group
£
Deferred tax 153,019

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

21. PROVISIONS FOR LIABILITIES - continued

Group
Deferred tax
£
Provided during period 84,000
Credit to Statement of Comprehensive Income during period (17,257 )
Balance at 31 March 2024 66,743

The amount provided for in the year is in relation to the deferred tax recognised on the fair value uplift applied to the freehold property on acquisition, which has been calculated at 25% of the FV uplift. Please refer to note 27 for further detail.

22. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal value: £   
50 A ordinary shares 1 50
40 B ordinary shares 1 40
5 C ordinary shares 1 5
5 D ordinary shares 1 5
100

The following shares were allotted at par during the period:

50 A ordinary shares of £1 each
40 B ordinary shares of £1 each
5 C ordinary shares of £1 each
5 D ordinary shares of £1 each

23. RESERVES

Group
Retained
earnings
£

Profit for the period 4,629,039
Dividends (48,375 )
At 31 March 2024 4,580,664


24. RELATED PARTY DISCLOSURES

During the period, total dividends of £48,375 were paid to the directors .

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

24. RELATED PARTY DISCLOSURES - continued

The parent company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

No other transactions have been undertaken between the group and non-wholly owned group entities or related parties.

25. POST BALANCE SHEET EVENTS

Subsequent to the year end, the fixed and floating charge held by SME Lending Limited has been satisfied in full, a new fixed and floating charge has been raised by HSBC UK Bank Plc on 10 September 2024 over all assets of John Beech Limited.

In addition to this, on 16 October 2024, John Beech Limited acquired 100% share capital in Hasaw Limited, its registered number being SC557171. The group structure has been further changed after the Statement of Financial Position date by Marley Wainwright Limited, the immediate parent of John Beech Limited, being struck off on 17 September 2024 and the shares of the company being transferred to the parent company.

26. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the group is considered to be G Vaughan, as a result of their majority shareholding of Beech Group Holdings Limited.

Beech Group Holdings Limited (Registered number: 14616596)

Notes to the Consolidated Financial Statements - continued
for the Period 25 January 2023 to 31 March 2024

27. BUSINESS COMBINATIONS

On 3 April 2023, the parent company acquired control in Marley Wainwright Limited, the immediate and ultimate parent of John Beech Limited, through the purchase of 100% share capital in the entity for a total consideration of £3,002,011, this being formed of cash and deferred consideration.

Management have determined that the useful life of the goodwill arising as a result of the acquisition to be 10 years. John Beech Limited, the sole trading entity of the group acquired by the parent company, is well established in the North West of England providing demolition and related works, however the amortisation period is restricted by the full useful life not being reliably measurable.

The following table summarises the fair value of the assets acquired and liabilities assumed at the date of acquisition. Please note, following an assessment by the directors, the fair value of the assets acquired and liabilities assumed at the acquisition date are deemed to be equal to their carrying amount, with the exception of the freehold property acquired. The freehold property acquired has been recognised at market value subject to vacant possession, the valuation being performed by a RICS qualified valuer. This has additionally given rise to a deferred tax liability which has been calculated at 25% of the FV uplift applied on acquisition.

Amounts recorded for assets acquired and liabilities assumed:

Book values Adjustments Fair value
£    £    £   
Non-current assets 774,188 336,000 1,110,188
Stocks 4,000 - 4,000
Trade and other receivables 3,672,820 - 2,513,820
Cash and cash equivalents 105,005 105,005
Trade and other payables (3,051,222 ) - (3,051,222 )
Borrowings (838,980 ) - (838,980 )
Deferred tax liabilities (86,276 ) (84,000 ) (170,276 )
Total identifiable net liabilities 579,465 252,000 831,465

Goodwill on acquisition 2,170,546
Total 3,002,011

The revenue from John Beech Limited included within the Consolidated Statement of Comprehensive Income for the period end 31 March 2024 was £18,648,698. The entity also contributed a profit of £3,614,014 for the same period.