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REGISTERED NUMBER: 09144241 (England and Wales)


















Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 30th June 2024

for

BBG Industries Ltd

BBG Industries Ltd (Registered number: 09144241)






Contents of the Consolidated Financial Statements
for the Year Ended 30th June 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 Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 16


BBG Industries Ltd

Company Information
for the Year Ended 30th June 2024







DIRECTORS: G Blunden
N A Boyles
K J Deegan
C Roy
D Gibbs





SECRETARY: D Camp





REGISTERED OFFICE: Trios House
Reform Road
Maidenhead
Berkshire
SL6 8DA





BUSINESS ADDRESS: Central Way
Feltham
Middlesex
TW14 0XJ





REGISTERED NUMBER: 09144241 (England and Wales)





AUDITORS: Hannaways
Chartered Accountants
and Statutory Auditors
Trios House
Reform Road
Maidenhead
Berkshire
SL6 8BY

BBG Industries Ltd (Registered number: 09144241)

Group Strategic Report
for the Year Ended 30th June 2024

The directors present their strategic report of the company and the group for the year ended 30th June 2024.

REVIEW OF BUSINESS
The results for the year are set out in the attached financial statements.

The directors are encouraged by the increase in turnover and operating profit relative to the previous year. It is noted however that a weaker gross profit margin (25.5% down from 27.4% for the year to 30th June 2023) and higher administrative expense (£4.29m compared to £4.10m for the year to.30th June 2023 an increase of 4.6%) has resulted in a lower level of growth than originally anticipated.

The businesses cash position at 30th June 2024 of £705k was expected due to an individual contract and it's high level of amounts recoverable on contracts at the year end for this contract. This position was addressed following the end of this accounting period and the amounts recoverable on contracts/cash position has therefore improved in the period following these financial statements.

Current projections for the year ending 30th June 2025 indicate that overheads should remain static relative to these financial statements. The directors are optimistic that ongoing projects are also likely to result in both turnover and gross profit in excess of those achieved for the year to 30th June 2024, resulting in an overall improvement in the trading results for the group.

The directors are encouraged by the more positive economic climate within the sector which has been reflected in the value of new contracts added to the order book in recent months. This has very positive implications for ongoing trading activity which we expect to exceed current levels for the years 30th June 2025 and 30th June 2026.

Current management information for the quarter ending 30th September 2024 supports this belief and reinforces our view that barring any unforeseen circumstances, performance for the year to 30th June 2025 should exceed that of the two previous years.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors regularly assess and monitor risks affecting the group.

The directors remain confident in the resilience of the business and its leadership due to its proven track record against a challenging market backdrop, including the impacts of inflationary spikes and underperforming contracts.

The group has no direct exposure to the collapse of ISG UK (September 2024).

The directors continue to seek a diverse orderbook, reducing exposure to any single customer.

ON BEHALF OF THE BOARD:





K J Deegan - Director


5th December 2024

BBG Industries Ltd (Registered number: 09144241)

Report of the Directors
for the Year Ended 30th June 2024

The directors present their report with the financial statements of the company and the group for the year ended 30th June 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of architectural metalwork and steel fabrication.

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

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

G Blunden
N A Boyles
K J Deegan
C Roy
D Gibbs

Other changes in directors holding office are as follows:

T M Best ceased to be a director after 30th June 2024 but prior to the date of this report.

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

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

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

BBG Industries Ltd (Registered number: 09144241)

Report of the Directors
for the Year Ended 30th June 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.

ON BEHALF OF THE BOARD:





K J Deegan - Director


5th December 2024

Report of the Independent Auditors to the Members of
BBG Industries Ltd

Opinion
We have audited the financial statements of BBG Industries Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th June 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30th June 2024 and of the group's 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 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
BBG Industries Ltd


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

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

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

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

Report of the Independent Auditors to the Members of
BBG Industries 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:

We obtained an understanding of the group and the sector in which it operates to identify laws and regulations that could reasonably be expected to have a direct effect on the financial statements. We obtained our understanding in this regard through discussions with management. We considered the significant laws and regulations to be the Companies Act 2006 and Health and Safety regulations. As part of our audit work we reviewed the reports of any Health and Safety audits carried out by independent assessors in the year. We also reviewed minutes of the Board meetings throughout the year.

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our audit work focused on revenue recognition, amounts recoverable on contracts and deferred income, as these areas were subject to significant judgement and estimation techniques, and as such the risk of material misstatement due to fraud is the greatest. Our audit work in these areas consisted of substantive tests of detail on a sample of the population of contracts ongoing and existing at the year end to confirm the appropriateness of the estimates used in the stage of completion of the contract.

We addressed the risk of fraud arising from management override of controls by performing audit procedures which included, but were not limited to, the testing of journals, reviewing accounting estimates for evidence of bias and evaluating the business rationale of any significant transactions that were unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery. misrepresentation or through collusion. There are inherent limitations in the audit procedures performed 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 are to become aware of it.

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.




Christopher Northwood BSc FCA (Senior Statutory Auditor)
for and on behalf of Hannaways
Chartered Accountants
and Statutory Auditors
Trios House
Reform Road
Maidenhead
Berkshire
SL6 8BY

5th December 2024

BBG Industries Ltd (Registered number: 09144241)

Consolidated Statement of Comprehensive Income
for the Year Ended 30th June 2024

2024 2023
Notes £    £   

TURNOVER 3 17,685,634 15,767,304

Cost of sales 13,180,368 11,450,351
GROSS PROFIT 4,505,266 4,316,953

Administrative expenses 4,285,434 4,095,245
OPERATING PROFIT 219,832 221,708

Interest receivable and similar income 5 10,138 1,041
229,970 222,749

Interest payable and similar expenses 6 1,687 984
PROFIT BEFORE TAXATION 7 228,283 221,765

Tax on profit 8 - (40,331 )
PROFIT FOR THE FINANCIAL YEAR 228,283 262,096

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

228,283

262,096

Profit attributable to:
Owners of the parent 228,283 262,096

Total comprehensive income attributable to:
Owners of the parent 228,283 262,096

BBG Industries Ltd (Registered number: 09144241)

Consolidated Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 204,320 115,296
Investments 11 - -
204,320 115,296

CURRENT ASSETS
Stocks 12 10,200 10,200
Debtors 13 3,724,793 2,049,553
Cash at bank and in hand 705,291 1,354,391
4,440,284 3,414,144
CREDITORS
Amounts falling due within one year 14 3,601,688 2,707,558
NET CURRENT ASSETS 838,596 706,586
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,042,916

821,882

CREDITORS
Amounts falling due after more than one
year

15

17,522

24,771
NET ASSETS 1,025,394 797,111

CAPITAL AND RESERVES
Called up share capital 18 1,000 1,000
Retained earnings 19 1,024,394 796,111
SHAREHOLDERS' FUNDS 1,025,394 797,111

The financial statements were approved by the Board of Directors and authorised for issue on 5th December 2024 and were signed on its behalf by:





K J Deegan - Director


BBG Industries Ltd (Registered number: 09144241)

Company Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 - -
Investments 11 3,600,000 3,600,000
3,600,000 3,600,000

CURRENT ASSETS
Debtors 13 700 700
Cash at bank 69 29
769 729
CREDITORS
Amounts falling due within one year 14 250 100
NET CURRENT ASSETS 519 629
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,600,519

3,600,629

CAPITAL AND RESERVES
Called up share capital 18 1,000 1,000
Retained earnings 19 3,599,519 3,599,629
SHAREHOLDERS' FUNDS 3,600,519 3,600,629

Company's loss for the financial year (110 ) (108 )

The financial statements were approved by the Board of Directors and authorised for issue on 5th December 2024 and were signed on its behalf by:





K J Deegan - Director


BBG Industries Ltd (Registered number: 09144241)

Consolidated Statement of Changes in Equity
for the Year Ended 30th June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st July 2022 1,000 534,015 535,015

Changes in equity
Total comprehensive income - 262,096 262,096
Balance at 30th June 2023 1,000 796,111 797,111

Changes in equity
Total comprehensive income - 228,283 228,283
Balance at 30th June 2024 1,000 1,024,394 1,025,394

BBG Industries Ltd (Registered number: 09144241)

Company Statement of Changes in Equity
for the Year Ended 30th June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st July 2022 1,000 3,599,737 3,600,737

Changes in equity
Total comprehensive income - (108 ) (108 )
Balance at 30th June 2023 1,000 3,599,629 3,600,629

Changes in equity
Total comprehensive income - (110 ) (110 )
Balance at 30th June 2024 1,000 3,599,519 3,600,519

BBG Industries Ltd (Registered number: 09144241)

Consolidated Cash Flow Statement
for the Year Ended 30th June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (441,767 ) (696,690 )
Interest element of hire purchase payments
paid

(1,687

)

(984

)
Tax paid - (29,885 )
Net cash from operating activities (443,454 ) (727,559 )

Cash flows from investing activities
Purchase of tangible fixed assets (122,992 ) (74,603 )
Sale of tangible fixed assets - 2,500
Interest received 10,138 1,041
Net cash from investing activities (112,854 ) (71,062 )

Cash flows from financing activities
Capital repayments in year (7,248 ) (4,230 )
New hire purchase agreements - 36,250
Net cash from financing activities (7,248 ) 32,020

Decrease in cash and cash equivalents (563,556 ) (766,601 )
Cash and cash equivalents at beginning of
year

2

1,268,847

2,035,448

Cash and cash equivalents at end of year 2 705,291 1,268,847

BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30th June 2024

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

2024 2023
£    £   
Profit before taxation 228,283 221,765
Depreciation charges 31,691 19,207
Loss on disposal of fixed assets 2,277 5,651
Finance costs 1,687 984
Finance income (10,138 ) (1,041 )
253,800 246,566
(Increase)/decrease in trade and other debtors (1,675,240 ) 486,227
Increase/(decrease) in trade and other creditors 979,673 (1,429,483 )
Cash generated from operations (441,767 ) (696,690 )

2. CASH AND CASH EQUIVALENTS

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

Year ended 30th June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 705,291 1,354,391
Bank overdrafts - (85,544 )
705,291 1,268,847
Year ended 30th June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 1,354,391 2,035,448
Bank overdrafts (85,544 ) -
1,268,847 2,035,448


BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30th June 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 1,354,391 (649,100 ) 705,291
Bank overdrafts (85,544 ) 85,544 -
1,268,847 (563,556 ) 705,291
Debt
Finance leases (32,020 ) 7,248 (24,772 )
(32,020 ) 7,248 (24,772 )
Total 1,236,827 (556,308 ) 680,519

BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Financial Statements
for the Year Ended 30th June 2024

1. STATUTORY INFORMATION

BBG Industries 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 General Information page.

The company's business address can also be found on the Company 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.

Basis of consolidation
The group financial statements consolidate the financial statements of BBG Industries Limited and its subsidiary undertakings drawn up to 30th June 2024.

In the company's financial statements, investments in subsidiaries are stated at cost less impairment.

Significant judgements and estimates
The preparation of the group financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates and judgements.

The judgements, estimates and assumptions that have the most significant effect on amounts recognised in the group financial statements are as follows.

Revenue recognition, amounts recoverable on contracts and deferred income

The group makes an estimate of the stage completion of a construction contract based on costs incurred and revenue earned at the balance sheet date. The method used is as stated in the construction contract turnover accounting policy. Estimation uncertainty will exist with regard to the estimation of the total costs to complete each contract.

Turnover
Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates or value added tax and other sales taxes.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Turnover from construction contracts represents turnover received from construction work carried out in the year and includes an appropriate proportion of revenue receivable from contracts which are recognised by reference to the stage of completion of the contract at the balance sheet date. Stage of completion is assessed by reference to the proportion of the contract costs incurred for the work performed to date relative to the estimated total costs to complete the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell.

BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30th June 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year 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 balance sheet date.

Deferred taxation
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Investments in subsidiary companies are stated at deemed cost, which is the carrying amount at the date of transition as determined under previous UK GAAP.

Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction cost. Any losses from impairment are recognised in the profit and loss account.

BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30th June 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Construction contracts 17,183,883 14,058,904
Bus shelters 501,751 1,708,400
17,685,634 15,767,304

The turnover arose entirely in the UK.

Amounts recoverable on contracts at 30th June 2024 totalling £2,502,270 (2023 £1,044,898) is included in debtors amounts falling due within one year. Deferred income on contracts at 30th June 2024 totalling £1,220,771 (2023 £594,280) is included in creditors amounts falling due within one year.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,539,291 3,644,190
Social security costs 366,841 379,143
Other pension costs 67,560 72,228
3,973,692 4,095,561

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

Office and management 44 46
Production 36 44
80 90

2024 2023
£    £   
Directors' remuneration 565,583 470,493

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 160,900 123,592

5. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023
£    £   
Deposit account interest 10,138 1,041

BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30th June 2024

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Hire purchase 1,687 984

7. PROFIT BEFORE TAXATION

The profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 392,150 371,154
Depreciation - owned assets 24,132 13,921
Depreciation - assets on hire purchase contracts 7,560 5,286
Loss on disposal of fixed assets 2,277 5,651
Auditors' remuneration 8,300 14,800

8. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
Prior year tax adjustment - (40,331 )
Tax on profit - (40,331 )

9. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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


BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30th June 2024

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st July 2023 743,396 37,803 99,860 881,059
Additions 48,811 - 74,181 122,992
Disposals - - (18,670 ) (18,670 )
At 30th June 2024 792,207 37,803 155,371 985,381
DEPRECIATION
At 1st July 2023 665,195 37,272 63,296 765,763
Charge for year 11,873 80 19,739 31,692
Eliminated on disposal - - (16,394 ) (16,394 )
At 30th June 2024 677,068 37,352 66,641 781,061
NET BOOK VALUE
At 30th June 2024 115,139 451 88,730 204,320
At 30th June 2023 78,201 531 36,564 115,296

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st July 2023
and 30th June 2024 36,250
DEPRECIATION
At 1st July 2023 5,286
Charge for year 7,560
At 30th June 2024 12,846
NET BOOK VALUE
At 30th June 2024 23,404
At 30th June 2023 30,964

BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30th June 2024

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st July 2023
and 30th June 2024 3,600,000
NET BOOK VALUE
At 30th June 2024 3,600,000
At 30th June 2023 3,600,000

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

CMF Group Limited
Registered office: Trios House Reform Road Maidenhead SL6 8BY
Nature of business: Non trading holding company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 2,590,606 2,590,606

CMF Limited
Registered office: Trios House Reform Road Maidenhead SL6 8BY
Nature of business: Engineering
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,665,854 1,441,698
Profit for the year 224,156 203,677

BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30th June 2024

11. FIXED ASSET INVESTMENTS - continued

NCMP Limited
Registered office: Trios House Reform Road Maidenhead SL6 8BY
Nature of business: Engineering
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 540,492 536,255
Profit for the year 4,237 58,527

The subsidiary NCMP Limited, registered number 01709808, is exempt from the requirements relating to the audit of accounts under section 479A of the Companies Act 2006.

Boundary Metal Limited
Registered office: Trios House Reform Road Maidenhead SL6 8BY
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (581,372 ) (581,372 )

Custom Metal Fabrications Ltd
Registered office: Trios House Reform Road Maidenhead SL6 8BY
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 100 100

Cablescreen Limited
Registered office: Trios House Reform Road Maidenhead SL6 8BY
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 100 100


12. STOCKS

Group
2024 2023
£    £   
Raw materials 10,200 10,200

BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30th June 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 439,085 322,198 - -
Amounts recoverable on
contracts 2,502,270 1,044,898 - -
Other debtors 592,085 372,945 700 700
Corporation tax 43,731 43,731 - -
Prepayments 147,622 265,781 - -
3,724,793 2,049,553 700 700

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 16) - 85,544 - -
Hire purchase contracts (see note 17) 7,250 7,249 - -
Trade creditors 1,866,641 1,512,882 - -
Amounts owed to group undertakings - - 250 100
Social security and other taxes 94,725 93,767 - -
Other creditors 356,512 346,744 - -
Accruals and deferred income 1,276,560 661,372 - -
3,601,688 2,707,558 250 100

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

Group
2024 2023
£    £   
Hire purchase contracts (see note 17) 17,522 24,771

16. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 85,544

The bank overdraft facility is secured by a debenture incorporating a fixed and floating charge over all the assets of the company.

BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30th June 2024

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 8,937 8,936
Between one and five years 21,598 30,533
30,535 39,469

Finance charges repayable:
Within one year 1,687 1,687
Between one and five years 4,076 5,762
5,763 7,449

Net obligations repayable:
Within one year 7,250 7,249
Between one and five years 17,522 24,771
24,772 32,020

Group
Non-cancellable operating leases
2024 2023
£    £   
Between one and five years 396,000 396,000

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100,000 Ordinary 1p 1,000 1,000

19. RESERVES

Group
Retained
earnings
£   

At 1st July 2023 796,111
Profit for the year 228,283
At 30th June 2024 1,024,394

BBG Industries Ltd (Registered number: 09144241)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30th June 2024

19. RESERVES - continued

Company
Retained
earnings
£   

At 1st July 2023 3,599,629
Deficit for the year (110 )
At 30th June 2024 3,599,519


20. PENSION COMMITMENTS

The group operates a defined contribution pension scheme for the benefit of employees and directors. The assets of the scheme are administered by an independent pension provider. Pension payments recognised as an expense in the year amounted to £67,560 (2023 £72,228)

21. CONTINGENT LIABILITIES

The group is party to a group bonding and guarantee facility with the group's bankers of £1,300,000. The bonding line liability at 30th June 2024 was £564,739 (2023: £104,000).

The group is party to unlimited guarantees in respect of the group overdraft facility of £500,000 and the group bonding facility.

The bank also hold an Omnibus Guarantee and Letter of set off in respect of the group overdraft and bonding line facilities.