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REGISTERED NUMBER: 03229578 (England and Wales)












Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 July 2024

for

NRT Building Services Group Limited

NRT Building Services Group Limited (Registered number: 03229578)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


NRT Building Services Group Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: P A Antino
S R Benson





REGISTERED OFFICE: Castle House
Park Road
Banstead
Surrey
SM7 3BT





REGISTERED NUMBER: 03229578 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Nightingale House
46-48 East Street
London
Surrey
KT17 1HQ

NRT Building Services Group Limited (Registered number: 03229578)

Strategic Report
for the Year Ended 31 July 2024

The directors present their strategic report for the year ended 31 July 2024.

REVIEW OF BUSINESS
The company has seen an increase in gross profit margin from 29% to 35% in the year. Turnover was £17,828,261, an increase of 6% from the previous year. Operating profit increased in the year by 53%.

The increases in profit show that the company has traded well, and has focused on growing sales in the year. By maintaining regular business, and building solid relationships with clients, the company is able to provide continuous delivery of electrical installation works. The company seeks regular feedback from customers to ensure that it can meet it's own high standards. This also allows the company to seek ideas and solutions to ensure that it remains the contractor of choice for it's customers.

The company has increased its client base and on secured long term contracts, and is more focused on providing electrical installation, particularly compliance works, in social housing, with a number of local authorities as clients. This has helped improve cashflow, and therefore reduce the risk of bad debts.

PRINCIPAL RISKS AND UNCERTAINTIES
Health and Safety regulations are always a key area of concern. Ensuring that all staff are up to date on the most recent regulations is essential, so the company carries out regular training and upskilling, along with ensuring regular site inspections and toolbox talks take place to keep high standards.

Large commercial clients making late payments or getting into financial difficulties has led the company to move more and more out of this arena and more into council and housing association works, as this creates a lesser cashflow risk. However, the company maintains strong relationships with some long-term customers to ensure that communication is clear. The company also has credit insurance on these clients to help mitigate this risk.

The company has an increased number of vehicles, which leads to greater risk of accidents and insurance claims. Remaining in control of vehicle management is key to ensure the company remains an attractive option to vehicle insurers.

There is a labour and skill shortage facing the entire industry. An increase in awareness of apprenticeships has seen an increase in applicants, and a cultural change of young people considering apprenticeships as opposed to university. The company have been recruiting apprentices for 22 years and will continue to do so moving forward. The company is looking to recruit more apprentices as a way of attempting to solve some of our increased labour need.

KEY PERFORMANCE INDICATORS
2024 2023
Turnover 17,828,261 16,839,269
Gross profit margin 35% 29%
Operating profit/(loss) 3,709,276 2,419,923
EBITDA 3,740,303 2,460,325
Net profit margin 15% 11%

ON BEHALF OF THE BOARD:





P A Antino - Director


24 January 2025

NRT Building Services Group Limited (Registered number: 03229578)

Report of the Directors
for the Year Ended 31 July 2024

The directors present their report with the financial statements of the company for the year ended 31 July 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of electrical and electronic engineers and contractors.

DIVIDENDS
Interim dividends per share were paid during the year as follows:
Ordinary £1 - £1750
Non voting redeemable B £1 - £1472.2225

The total distribution of dividends for the year ended 31 July 2024 will be £ 1,500,000 .

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

Details of events occurring after the year-end are disclosed in the notes to the financial statements. On 29 October 2024, the company was acquired by RGE Bidco Limited.

As this transaction occurred after the balance sheet date, it has no impact on the financial position, or results of operations reported in the financial statements for the year ended 31 July 2024.

DIRECTORS
P A Antino has held office during the whole of the period from 1 August 2023 to the date of this report.

Other changes in directors holding office are as follows:

S R Benson was appointed as a director after 31 July 2024 but prior to the date of this report.

Mrs K Hunt-Turner , R J Simmons , Mrs J Antino , A Smith and N R Hunt-Turner ceased to be directors after 31 July 2024 but prior to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE
The company continues to support national and international charities. The contributions made during the year amounted to £20,894 (2023 - £10,519).

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

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

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

NRT Building Services Group Limited (Registered number: 03229578)

Report of the Directors
for the Year Ended 31 July 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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P A Antino - Director


24 January 2025

Report of the Independent Auditors to the Members of
NRT Building Services Group Limited

Opinion
We have audited the financial statements of NRT Building Services Group Limited (the 'company') for the year ended 31 July 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 July 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
NRT Building Services Group Limited


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

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

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
NRT Building Services Group Limited


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:

- Identify and assess the risk of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company's internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and the related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to event or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related disclosure in the financial statements or, if such disclosures are inadequate to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

-Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

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.

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.




Hazel Day Bsc FCA DChA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Nightingale House
46-48 East Street
London
Surrey
KT17 1HQ

24 January 2025

NRT Building Services Group Limited (Registered number: 03229578)

Income Statement
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   

TURNOVER 4 17,828,261 16,740,269

Cost of sales 11,639,131 11,908,964
GROSS PROFIT 6,189,130 4,831,305

Administrative expenses 2,480,795 2,411,391
3,708,335 2,419,914

Other operating income 941 10
OPERATING PROFIT 6 3,709,276 2,419,924

Interest receivable and similar income 6,514 1,567
PROFIT BEFORE TAXATION 3,715,790 2,421,491

Tax on profit 8 967,792 532,495
PROFIT FOR THE FINANCIAL YEAR 2,747,998 1,888,996

NRT Building Services Group Limited (Registered number: 03229578)

Other Comprehensive Income
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   

PROFIT FOR THE YEAR 2,747,998 1,888,996


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,747,998

1,888,996

NRT Building Services Group Limited (Registered number: 03229578)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 105,049 126,581
Investments 11 2 2
105,051 126,583

CURRENT ASSETS
Stocks 12 66,296 107,000
Debtors 13 2,133,351 2,620,850
Cash at bank and in hand 3,519,889 1,982,507
5,719,536 4,710,357
CREDITORS
Amounts falling due within one year 14 2,687,832 2,942,800
NET CURRENT ASSETS 3,031,704 1,767,557
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,136,755

1,894,140

PROVISIONS FOR LIABILITIES 16 26,262 31,645
NET ASSETS 3,110,493 1,862,495

CAPITAL AND RESERVES
Called up share capital 17 1,000 1,000
Retained earnings 18 3,109,493 1,861,495
SHAREHOLDERS' FUNDS 3,110,493 1,862,495

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:





P A Antino - Director


NRT Building Services Group Limited (Registered number: 03229578)

Statement of Changes in Equity
for the Year Ended 31 July 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2022 1,000 1,868,613 1,869,613

Changes in equity
Dividends - (1,896,114 ) (1,896,114 )
Total comprehensive income - 1,888,996 1,888,996
Balance at 31 July 2023 1,000 1,861,495 1,862,495

Changes in equity
Dividends - (1,500,000 ) (1,500,000 )
Total comprehensive income - 2,747,998 2,747,998
Balance at 31 July 2024 1,000 3,109,493 3,110,493

NRT Building Services Group Limited (Registered number: 03229578)

Cash Flow Statement
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,998,435 3,093,145
Tax paid (943,997 ) (351,649 )
Net cash from operating activities 3,054,438 2,741,496

Cash flows from investing activities
Purchase of tangible fixed assets (20,388 ) (21,687 )
Sale of tangible fixed assets 10,757 750
Interest received 6,514 1,567
Net cash from investing activities (3,117 ) (19,370 )

Cash flows from financing activities
Amount withdrawn by directors (13,939 ) 25,874
Equity dividends paid (1,500,000 ) (1,896,114 )
Net cash from financing activities (1,513,939 ) (1,870,240 )

Increase in cash and cash equivalents 1,537,382 851,886
Cash and cash equivalents at beginning of
year

2

1,982,507

1,130,621

Cash and cash equivalents at end of year 2 3,519,889 1,982,507

NRT Building Services Group Limited (Registered number: 03229578)

Notes to the Cash Flow Statement
for the Year Ended 31 July 2024

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

31.7.24 31.7.23
£    £   
Profit before taxation 3,715,790 2,421,491
Depreciation charges 31,968 40,412
(Profit)/loss on disposal of fixed assets (804 ) 367
Finance income (6,514 ) (1,567 )
3,740,440 2,460,703
Decrease/(increase) in stocks 40,704 (99,000 )
Decrease/(increase) in trade and other debtors 487,687 (183,463 )
(Decrease)/increase in trade and other creditors (270,396 ) 914,905
Cash generated from operations 3,998,435 3,093,145

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 31 July 2024
31.7.24 1.8.23
£    £   
Cash and cash equivalents 3,519,889 1,982,507
Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 1,982,507 1,130,621


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.23 Cash flow At 31.7.24
£    £    £   
Net cash
Cash at bank and in hand 1,982,507 1,537,382 3,519,889
1,982,507 1,537,382 3,519,889
Total 1,982,507 1,537,382 3,519,889

NRT Building Services Group Limited (Registered number: 03229578)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

NRT Building Services Group 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 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.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about NRT Building Services Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 405(2) of the Companies Act 2006 from the requirements to prepare consolidated financial statements as both the subsidiaries are dormant, and their inclusion is not material for the purpose of giving a true and fair view.

Turnover
Long term contracts : Turnover is ascertained by reference to the degree of completion of the contract. It includes the relevant proportion of total anticipated costs plus attributable gross profit. Attributable gross profit is also ascertained by reference to the degree of completion of the contract reduced by any anticipated costs not recoverable under the terms of the contract. Any excess of the amount included in turnover over payments invoiced on account is included in debtors as amounts recoverable on contracts. Any excess of payments invoiced on account over the amount included in turnover is first set off against the appropriate balance of long term contract work in progress, any balance is shown as payments on account.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and net realisable value. Work in progress on construction contracts is shown under amounts recoverable on contracts.

Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and account receivables and payables, are initially measured at the transaction price (adjusted for transaction cost) and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtor and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


NRT Building Services Group Limited (Registered number: 03229578)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, management are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates are based on historical experience, and actual results may differ from these estimates.

The main critical accounting judgement, and key source of uncertainty in applying these estimations, that may have a significant impact on the amounts recognised in these financial statements are as follows:

REVENUE RECOGNITION FOR CONSTRUCTION CONTRACTS
When the results of a construction contract can be estimated reliably, revenue is recognised using the
percentage-of-completion method based on costs incurred, taking into account the expected costs and revenues at the end of the project, as the activity takes place.

Changes in the performance of work, and estimated margins, including those that may arise for incentives for early conclusion of the projects, contractual penalties and final agreements in contracts, are recognized as income in the periods in which revisions are made or approved by customers.

In accordance with the terms of various contracts, revenue is recognized and not necessarily related to the actual amounts billable to customers. Management periodically evaluates the reasonableness of its receivables.

In cases where there is evidence collection difficulty, additional allowances for doubtful accounts affecting income in the year they are determined are recognised. The estimate of the reserve is based on the best judgment of the company under the circumstances prevailing at the time of its determination.

4. TURNOVER

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

An analysis of turnover by geographical market is given below:

31.7.24 31.7.23
£    £   
United Kingdom 17,828,261 16,740,269
17,828,261 16,740,269

NRT Building Services Group Limited (Registered number: 03229578)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. EMPLOYEES AND DIRECTORS
31.7.24 31.7.23
£    £   
Wages and salaries 4,085,659 4,151,605
Social security costs 105,822 86,887
Other pension costs 47,299 43,948
4,238,780 4,282,440

The average number of employees during the year was as follows:
31.7.24 31.7.23

Administration 2 2
Cost of sales 80 76
82 78

The company operates a defined contribution pension scheme for the benefit of the employees and directors. The assets of the scheme are administered by an independent pensions provider. Pension payments are recognised as an expense in the profit and loss account each year.

31.7.24 31.7.23
£    £   
Directors' remuneration 748,695 515,736

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

Money purchase schemes 6 6

Information regarding the highest paid director is as follows:
31.7.24 31.7.23
£    £   
Emoluments etc 327,462 250,671
Accrued pension at 31 July 2024 3,127 4,740

6. OPERATING PROFIT

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

31.7.24 31.7.23
£    £   
Hire of plant and machinery 30,779 27,299
Other operating leases 163,560 161,430
Depreciation - owned assets 31,967 40,412
(Profit)/loss on disposal of fixed assets (804 ) 367

7. AUDITORS' REMUNERATION
31.7.24 31.7.23
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

13,200

13,000

NRT Building Services Group Limited (Registered number: 03229578)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.7.24 31.7.23
£    £   
Current tax:
UK corporation tax 973,175 528,671

Deferred tax (5,383 ) 3,824
Tax on profit 967,792 532,495

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

31.7.24 31.7.23
£    £   
Profit before tax 3,715,790 2,421,491
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

928,948

605,373

Effects of:
Expenses not deductible for tax purposes 38,845 16,859
Depreciation in excess of capital allowances 5,382 3,166
Adjustment for tax rate change - (96,727 )
Deferred tax (5,383 ) 3,824

Total tax charge 967,792 532,495

9. DIVIDENDS
31.7.24 31.7.23
£    £   
Ordinary shares of £1 each
Interim 175,000 175,000
Non voting redeemable B shares of £1 each
Interim 1,325,000 1,721,114
1,500,000 1,896,114

NRT Building Services Group Limited (Registered number: 03229578)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

10. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 10,958 307,825 220,172 538,955
Additions 978 - 19,410 20,388
Disposals - (120,276 ) - (120,276 )
At 31 July 2024 11,936 187,549 239,582 439,067
DEPRECIATION
At 1 August 2023 9,034 267,983 135,357 412,374
Charge for year 644 8,710 22,613 31,967
Eliminated on disposal - (110,323 ) - (110,323 )
At 31 July 2024 9,678 166,370 157,970 334,018
NET BOOK VALUE
At 31 July 2024 2,258 21,179 81,612 105,049
At 31 July 2023 1,924 39,842 84,815 126,581

11. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 August 2023
and 31 July 2024 2
NET BOOK VALUE
At 31 July 2024 2
At 31 July 2023 2

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

NRT Electrical & Mechanical Limited
Registered office: Castle House, Park Road, Banstead, Surrey, England, SM7 3BT
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00

NRT Beta Limited
Registered office: Castle House, Park Road, Banstead, Surrey, England, SM7 3BT
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00

NRT Building Services Group Limited (Registered number: 03229578)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

12. STOCKS
31.7.24 31.7.23
£    £   
Stocks 66,296 107,000

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 885,583 1,172,350
Other debtors 74,309 123,191
Amounts recoverable on contracts 1,096,066 1,274,192
Directors' current accounts 188 -
Prepayments 77,205 51,117
2,133,351 2,620,850

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 1,394,616 1,679,389
Tax 557,849 528,671
Social security and other taxes 159,140 139,455
VAT 439,367 366,057
Other creditors 37,595 30,532
Directors' current accounts - 13,750
Accrued expenses 99,265 184,946
2,687,832 2,942,800

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.24 31.7.23
£    £   
Within one year 222,628 192,744
Between one and five years 313,304 439,581
535,932 632,325

16. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax
Accelerated capital allowances 26,262 31,645

Deferred
tax
£   
Balance at 1 August 2023 31,645
Movement for year (5,383 )
Balance at 31 July 2024 26,262

NRT Building Services Group Limited (Registered number: 03229578)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100
900 Non voting redeemable B £1 900 900
1,000 1,000

The company has 100 Ordinary Shares, which have no restrictions on dividends and the repayment of capital.

There are also 900 Non voting redeemable B shares, which have no voting rights. They have no restrictions on dividends and the repayment of capital.

18. RESERVES
Retained
earnings
£   

At 1 August 2023 1,861,495
Profit for the year 2,747,998
Dividends (1,500,000 )
At 31 July 2024 3,109,493

19. PENSION COMMITMENTS

A defined contribution pension scheme is operated by the company on behalf of the employees. The assets of the scheme are held in an independently administered fund. The pension charge represents contributions payable to the fund and amounted to £47,299 (2023: £43,948).

Company contributions amounting to £14,225 (2023 - £12,824) were payable to the fund at year end and are included in creditors.

Amounts payable for the directors are disclosed separately, and total £41,805 (2023: £347,297) for the year.

20. RELATED PARTY DISCLOSURES

During the year, total dividends of £1,500,000 were paid to the directors .

The company occupied office premises owned by Amicus Partnership Limited, a company controlled by N R Hunt-Turner and P Antino. Rent has been charged at current market rates of £135,300 (2023 - £136,364), under full repairing terms.

21. POST BALANCE SHEET EVENTS

Subsequent to the balance sheet date, the company was acquired by RGE Bidco Limited on 29 October 2024.

As this transaction occurred after the reporting date, it has no impact on the financial position, or results of operations presented in the financial statements for the year ended 31 July 2024.

The directors have reviewed the company's financial position and performance and concluded that it remains robust. Accordingly, the going concern basis of accounting remains appropriate for the preparation of these financial statements.