REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
BETHELL GROUP PLC |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
BETHELL GROUP PLC |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Income Statement | 9 |
Other Comprehensive Income | 10 |
Balance Sheet | 11 |
Statement of Changes in Equity | 12 |
Notes to the Financial Statements | 13 |
BETHELL GROUP PLC |
COMPANY INFORMATION |
for the Year Ended 30 September 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
STRATEGIC REPORT |
for the Year Ended 30 September 2024 |
The directors present their strategic report for the year ended 30th September 2024. The results for the year are shown on page 9. |
BUSINESS REVIEW |
The Company has generated a net profit before taxation of £449k this year (2023: (£173k)) as costs recovered and recharges to fellow group companies was higher than the Company's overheads. |
The Company now has net liabilities at the year-end of £659k compared with £996k last year end and is consequently dependent upon its parent company, Bethell Group Holdings Ltd, and fellow subsidiary companies to provide financial support. Due to the limited nature of the Company's activities Company no further key performance indicators are considered relevant. |
PRINCIPAL RISKS AND UNCERTAINTIES |
In common with similar businesses the Company faces a number of risks and uncertainties and the directors believe that the key business risks are in respect of competition from both UK and international construction businesses affecting fellow group companies and in ensuring safe and to budget project delivery. This is in addition to the continued uncertainty in the economy due to the higher level of inflation and bank base rates. In view of these risks and uncertainties, the directors are aware that the development of the Company may be affected by factors outside their control. |
FUTURE DEVELOPMENTS |
The directors anticipate the business environment will remain competitive. However, 2025 has begun with a significant proportion of budget turnover within fellow group businesses already secured with a large further proportion also anticipated through key framework contracts. The fellow group companies also enter the new financial year with a good cash position as well as the Company's own cash balance of £522k in hand. The directors are therefore confident that the group businesses will enjoy another successful year. |
FINANCIAL INSTRUMENTS |
The company has a normal level of exposure to price, credit, liquidity, and cash flow risks arising from trading activities which are only conducted in sterling. The company does not enter into any hedging transactions. |
ON BEHALF OF THE BOARD: |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
REPORT OF THE DIRECTORS |
for the Year Ended 30 September 2024 |
The directors present their report with the financial statements of the company for the year ended 30 September 2024. |
PRINCIPAL ACTIVITY |
The principal activities of the Company in the year under review continue to be that of an intermediate holding company within the Bethell group of companies. A commentary on the financial performance is contained below. No change in activities is anticipated in the foreseeable future. |
DIVIDENDS |
No dividends will be distributed for the year ended 30 September 2024. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report. |
Other changes in directors holding office are as follows: |
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; |
- | 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 transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
REPORT OF THE DIRECTORS |
for the Year Ended 30 September 2024 |
AUDITORS |
The auditors, Fairhurst Audit Services Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
BETHELL GROUP PLC |
Opinion |
We have audited the financial statements of Bethell Group PLC (the 'company') for the year ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
_ |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
BETHELL GROUP PLC |
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 |
BETHELL GROUP PLC |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Extent to which the audit was considered capable of detecting irregularities including fraud |
Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect in the determination of material amounts and disclosures in the financial statement, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit. |
In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatements of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit. |
However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. |
In identifying and addressing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: |
- | The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
- | We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. As a result of these procedures we consider that the most significant laws and regulations that have a direct impact on the financial statements are FRS 102 and the Companies Act 2006. |
- | We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing minutes of meetings and inspecting legal correspondence. |
In assessing the susceptibility of the company's financial statements to material misstatement, including obtaining and understanding of how fraud might occur; |
- | We gained an understanding of the controls that management have in place to prevent and detect fraud. |
- | We enquired of management about any instances of fraud that had taken place during the year. |
To address the risk of fraud through management bias and override of controls; |
- | We performed analytical procedures to identify any unusual or unexpected relationships; |
- | We tested journal entries to identify unusual transactions; and |
- | We assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias. |
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of |
internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
BETHELL GROUP PLC |
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. |
for and on behalf of |
Statutory Auditors |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
INCOME STATEMENT |
for the Year Ended 30 September 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER | 3 |
Administrative expenses |
OPERATING PROFIT/(LOSS) | 5 | ( |
) |
Interest receivable and similar income |
PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
Tax on profit/(loss) | 6 | ( |
) |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
OTHER COMPREHENSIVE INCOME |
for the Year Ended 30 September 2024 |
2024 | 2023 |
Notes | £ | £ |
PROFIT/(LOSS) FOR THE YEAR | ( |
) |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
) |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
BALANCE SHEET |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Other reserves | 12 | ( |
) | ( |
) |
Retained earnings | 12 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The financial statements were approved by the Board of Directors and authorised for issue on |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
STATEMENT OF CHANGES IN EQUITY |
for the Year Ended 30 September 2024 |
Called up |
share | Retained | Other | Total |
capital | earnings | reserves | equity |
£ | £ | £ | £ |
Balance at 1 October 2022 | ( |
) | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30 September 2023 | ( |
) | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 30 September 2024 | ( |
) | ( |
) | ( |
) |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Bethell Group PLC is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the company information page. |
The presentation currency of the financial statements is the pound sterling (£). |
The financial statements are prepared in accordance with Financial Reporting Standard 1202 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
As at 30 September 2024 the Company had net liabilities of £659,000 (2023: £996,000). However, the financial statements have been prepared on a going concern basis as the parent company, Bethell Group Holdings Limited, has pledged its continuing financial support for a minimum of 12 months from the date of issuing these financial statements. |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company 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 requirements of Section 7 Statement of Cash Flows. |
Preparation of consolidated financial statements |
The financial statements contain information about Bethell Group PLC as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Bethell Group Holdings Limited, Bethell Group Holdings Limited, Dane House, Europa Park, Stoneclough Road, Kearsley, Greater Manchester, M26 1GE. |
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. |
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgement and estimates. The items in the financial statements where these judgements and estimates have been made include depreciation and residual values where the directors have reviewed the assets lives and associated residual of all fixed asset classes, and in particular, the useful economic life and residual values of leasehold buildings and fixtures and fittings, and have concluded that the asset lives and residual values are appropriate. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Tangible fixed assets are stated at historic cost. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. Finance costs are not capitalised. Depreciation is provided on cost in equal instalments over the estimated useful lives of the assets. The rate of depreciation are as follows: |
Plant and Machinery | Over 3 to 5 years |
Fixtures and fittings | Over 4 years |
Leaseholds Improvements | Over the unexpired lease term |
Financial instruments |
Short term debtors and amounts recoverable on contracts are measured at transaction price, less any impairment. Short term trade creditors are measured at the transaction price. The following assets and liabilities are classified as financial instruments; trade debtors (including amounts recoverable on contracts), Director's loan accounts, trade creditors, accruals and hire purchase agreements. Financial instruments that are payable or receivable within one year, typically Directors' loan accounts, trade creditors, accruals and trade debtors, are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received. Financial instruments repayable in more than one year such as hire purchase agreements are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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. |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
3. | TURNOVER |
Turnover is based on the invoiced value of all goods despatched and services provided prior to the year end, excluding VAT and other sales based taxes and net of trade discounts. The turnover and pre-tax profit, all of which arises in the United Kingdom, is attributable to the principal activity of the Company. |
4. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2024 | 2023 |
Managerial & Administration |
2024 | 2023 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
Information regarding the highest paid director is as follows: |
2024 | 2023 |
£ | £ |
Emoluments etc |
5. | OPERATING PROFIT/(LOSS) |
The operating profit (2023 - operating loss) is stated after charging: |
2024 | 2023 |
£ | £ |
Other operating leases |
Depreciation - owned assets |
Auditors' remuneration |
The auditing of accounts of any associate of the company |
Rentals under operating leases - land and buildings |
Rentals under operating leases - plant and machinery |
"Rentals under operating leases - land and buildings" stated above is net of recharges to group companies |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
6. | TAXATION |
Analysis of the tax charge/(credit) |
The tax charge/(credit) on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax | ( |
) |
Deferred tax |
Tax on profit/(loss) | ( |
) |
Reconciliation of total tax charge/(credit) included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
2024 | 2023 |
£ | £ |
Profit/(loss) before tax | ( |
) |
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of |
( |
) |
Effects of: |
Expenses not deductible for tax purposes |
Depreciation in excess of capital allowances |
Adjustments to tax charge in respect of previous periods | ( |
) |
Total tax charge/(credit) | 111,709 | (33,017 | ) |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
7. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | Plant and | and |
leasehold | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2023 |
Additions |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts owed by related party | 173,921 | 196,779 |
Tax |
Deferred tax asset |
Prepayments and accrued income |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Accrued expenses |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
deferred ordinary shares | 1 | 50,000 | 50,000 |
12. | RESERVES |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
At 1 October 2023 | ( |
) | ( |
) | (1,045,794 | ) |
Profit for the year | - |
At 30 September 2024 | ( |
) | ( |
) | (708,676 | ) |
13. | ULTIMATE PARENT COMPANY |
14. | CONTINGENT LIABILITIES |
The Company's bankers hold an unlimited cross guarantee dated 17th August 2021 between certain members of the Bethell group. There is also a supplemental fixed charge on book debts and other debts. At the year-end the company had a contingent liability under this cross guarantee of £nil (2023: £nil). |
15. | FINANCIAL COMMITMENTS |
Capital and Pension commitments |
The Company has no capital commitments at the year-end (2023: £nil). The Company operates a defined contribution pension scheme for two directors of the Company. The assets of the scheme are held separately from those of the Company in independently administered funds. The amount owing to this pension scheme at the year-end was £nil (2023: £nil). Two other employees of the Company, one of which is a director, participate in a defined contribution pension scheme operated by a fellow group company and the amount owing to this scheme, all for employer contributions, at the year-end was £nil (2023:£nil). |
BETHELL GROUP PLC (REGISTERED NUMBER: 02281508) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
16. | RELATED PARTY DISCLOSURES |
The company has taken advantage of the exemption in Section 33 of FRS102 "Related Party Disclosures" for subsidiaries not to disclose transactions or balances with entities that are wholly owned subsidiaries of the group. |
During the year the company transacted sales and purchases with Bethell Construction Limited ("BCL") & Bethell Utility Services Ltd ("BUSL") which are not wholly owned subsidiaries in the Bethell group: |
2024 | 2023 |
BCL | £ | £ |
Purchases | 209,947 | 146,673 |
Cost recharges | 369,229 | 486,521 |
Sales | 1,280,440 | 800,000 |
Balance outstanding at year end, included within creditors | -29,223 | -43,256 |
BUSL |
Purchase | 196,930 | 41,376 |
Cost recharges | 129,899 | 11,506 |
Sales | 325,560 | 192,000 |
Balance outstanding at year end, included within Debtors | 503,737 | 493,026 |
During the year the Company transacted with Catford & Longford Limited and its subsidiaries ("CLL") which are a related party by means of common ownership, as follows: |
2024 | 2023 |
£ | £ |
CLL |
Loan (repayments) / advance | (22,271 | ) | (53,221 | ) |
Cost recharges | 96,443 | 87,000 |
Balance outstanding at year end | 183,208 | 205,479 |
During the year the Company transacted with Heathfield Farm (Guernsey) Limited ("HFGL") which is a related party by means of common ownership through T Kilroe Life Interest Settlement which is a trust whose principal beneficiary is T Kilroe, as follows: |
2024 |
£ |
HFGL |
Sales | 552,336 |
Balance outstanding at year end | 552,336 |