IRIS Accounts Production v25.1.0.734 06636445 director 31.10.24 1.11.23 31.10.24 31.10.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. ++ true true false true true false false true false Fair value model Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh066364452023-10-31066364452024-10-31066364452023-11-012024-10-31066364452022-10-31066364452022-11-012023-10-31066364452023-10-3106636445ns15:EnglandWales2023-11-012024-10-3106636445ns14:PoundSterling2023-11-012024-10-3106636445ns10:Director12023-11-012024-10-3106636445ns10:Consolidated2024-10-3106636445ns10:ConsolidatedGroupCompanyAccounts2023-11-012024-10-3106636445ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3106636445ns10:Consolidatedns10:MediumEntities2023-11-012024-10-3106636445ns10:Consolidatedns10:Audited2023-11-012024-10-3106636445ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3106636445ns10:Consolidated2023-11-012024-10-3106636445ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-11-012024-10-3106636445ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-11-012024-10-3106636445ns10:FullAccounts2023-11-012024-10-3106636445ns10:OrdinaryShareClass12023-11-012024-10-3106636445ns10:CompanySecretary12023-11-012024-10-3106636445ns10:RegisteredOffice2023-11-012024-10-3106636445ns10:Consolidated2022-11-012023-10-3106636445ns5:CurrentFinancialInstruments2024-10-3106636445ns5:CurrentFinancialInstruments2023-10-3106636445ns5:ShareCapital2024-10-3106636445ns5:ShareCapital2023-10-3106636445ns5:RevaluationReserve2024-10-3106636445ns5:RevaluationReserve2023-10-3106636445ns5:RetainedEarningsAccumulatedLosses2024-10-3106636445ns5:RetainedEarningsAccumulatedLosses2023-10-3106636445ns5:ShareCapital2022-10-3106636445ns5:RetainedEarningsAccumulatedLosses2022-10-3106636445ns5:RevaluationReserve2022-10-3106636445ns5:ShareCapital2022-11-012023-10-3106636445ns5:RetainedEarningsAccumulatedLosses2022-11-012023-10-3106636445ns5:RevaluationReserve2022-11-012023-10-3106636445ns5:RetainedEarningsAccumulatedLosses2023-11-012024-10-3106636445ns5:RevaluationReserve2023-11-012024-10-3106636445ns5:LandBuildings2023-10-3106636445ns5:PlantMachinery2023-10-3106636445ns5:MotorVehicles2023-10-3106636445ns5:ComputerEquipment2023-10-3106636445ns5:LandBuildings2023-11-012024-10-3106636445ns5:PlantMachinery2023-11-012024-10-3106636445ns5:MotorVehicles2023-11-012024-10-3106636445ns5:ComputerEquipment2023-11-012024-10-3106636445ns5:LandBuildings2024-10-3106636445ns5:PlantMachinery2024-10-3106636445ns5:MotorVehicles2024-10-3106636445ns5:ComputerEquipment2024-10-3106636445ns5:LandBuildings2023-10-3106636445ns5:PlantMachinery2023-10-3106636445ns5:MotorVehicles2023-10-3106636445ns5:ComputerEquipment2023-10-3106636445ns5:CostValuation2023-10-3106636445ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3106636445ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3106636445ns5:WithinOneYear2024-10-3106636445ns5:WithinOneYear2023-10-3106636445ns5:BetweenOneFiveYears2024-10-3106636445ns5:BetweenOneFiveYears2023-10-3106636445ns5:MoreThanFiveYears2024-10-3106636445ns5:MoreThanFiveYears2023-10-3106636445ns5:AllPeriods2024-10-3106636445ns5:AllPeriods2023-10-3106636445ns5:DeferredTaxation2023-10-3106636445ns5:DeferredTaxation2023-11-012024-10-3106636445ns5:DeferredTaxation2024-10-3106636445ns10:OrdinaryShareClass12024-10-3106636445ns5:RevaluationReserve2023-10-31
REGISTERED NUMBER: 06636445 (England and Wales)










B & R GALLAGHER (HOLDINGS) LIMITED

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2024






B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4 to 7

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16 to 24


B & R GALLAGHER (HOLDINGS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2024







DIRECTOR: B L Gallagher



SECRETARY: Mrs R H Gallagher



REGISTERED OFFICE: Rushpool House
Unit 1
Knowsthorpe Approach, Cross Green
Leeds
LS9 0DW



REGISTERED NUMBER: 06636445 (England and Wales)



AUDITORS: Thomas Coombs Limited
Statutory Auditor
Chartered Accountants
3365 The Pentagon
Century Way
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB



BANKERS: HSBC Bank Plc
33 Park Row
Leeds
West Yorkshire
LS1 1LD

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31ST OCTOBER 2024


The director presents his strategic report of the company and the group for the year ended 31st October 2024.

REVIEW OF BUSINESS
We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end.

The review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

Through organic growth and work starting on new sites the financial performance of the group has improved during the year to October 2024.

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and the execution of the group's strategy are subject to a number of risks.

The key business risks and uncertainties effecting the group are considered to include

- the overall uncertain construction sector driven by "cost of living crisis" and interest rates;
- other input costs covering both payroll and overheads

The management team has a close working relationship with key suppliers and workforce and this contributes to a reliable supply of materials and labour.

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future and the stability to take advantage of opportunities should they arise. For this reason, it continues to adopt the going concern basis in preparing the financial statements.

FUTURE OUTLOOK
The company starts the next financial year with a strong financial base, net assets of £3.4m.

2024 has seen a stabilisation of market conditions and the company has experienced consistency in sales which is expected to continue into future years. Work has started on new sites and new phases have been started on existing sites. The company regularly reviews resource requirements in accordance with expected demand.

KEY PERFORMANCE INDICATORS
The directors consider revenue, gross profit margin and EBITDA margins to be the core KPIs for the As we group. As we can see below revenue, gross profit margin and EBITDA have all increased in the year which is reflective of the company's strong performance in the year.

2024 2023
Revenue £14.32m £11.34m
Gross profit margin 28.42% 29.30%
EBITDA £2.58m £2.65m

ON BEHALF OF THE BOARD:





B L Gallagher - Director


11th February 2025

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31ST OCTOBER 2024


The director presents his report with the financial statements of the company and the group for the year ended 31st October 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31st October 2024.

DIRECTOR
The directors during the year under review were:
B Gallagher

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

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

ON BEHALF OF THE BOARD:





B L Gallagher - Director


11th February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
B & R GALLAGHER (HOLDINGS) LIMITED


Opinion
We have audited the financial statements of B & R Gallagher (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st October 2024 which comprise the Consolidated Income Statement, Consolidated Other 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 31st October 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
B & R GALLAGHER (HOLDINGS) LIMITED


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

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
B & R GALLAGHER (HOLDINGS) 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:

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

Based on our understanding of the entity and industries in which it operates, we identified the principal risks of non-compliance with laws and regulations related to cyber security and data protection. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, tax legislation and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

We assessed the susceptibility of the groups financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls, and ensuring these controls operated as intended. We determined the principal risks were related to posting journal entries to manipulate profits, and management bias in accounting estimates, especially deferred income, accruals, prepayments, accrued income and depreciation.

To address the risk of fraud through management bias and override of controls, we:
- Performed analytical procedures to identify any unusual or unexpected relationships.
- Identified and tested journal entries and identified any significant transactions that were unusual or outside the normal course of business.
- Investigated the rationale behind significant or unusual transactions.
- Challenged assumptions and judgements made by management in determining significant accounting estimates, in particular in relation to deferred income, accruals, prepayments, accrued income and depreciation.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed audit procedures which included, but were not limited to:
- Agreeing financial statements disclosures to underlying supporting documentation.
- Discussions with management of known or suspected instances of non-compliance with laws and regulations.

At the completion stage of the audit, the engagement partner's review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

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

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
B & R GALLAGHER (HOLDINGS) LIMITED


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.




Stuart Adam (Senior Statutory Auditor)
for and on behalf of Thomas Coombs Limited
Statutory Auditor
Chartered Accountants
3365 The Pentagon
Century Way
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB

11th February 2025

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31ST OCTOBER 2024

2024 2023
Notes £    £   

TURNOVER 14,319,447 11,342,351

Cost of sales 10,250,456 8,018,745
GROSS PROFIT 4,068,991 3,323,606

Administrative expenses 1,706,737 944,827
2,362,254 2,378,779

Other operating income - 7,920
OPERATING PROFIT 4 2,362,254 2,386,699

Interest receivable and similar income 5 48,532 37,935
2,410,786 2,424,634

Interest payable and similar expenses 6 43,832 24,339
PROFIT BEFORE TAXATION 2,366,954 2,400,295

Tax on profit 7 1,022,896 528,756
PROFIT FOR THE FINANCIAL YEAR 1,344,058 1,871,539
Profit attributable to:
Owners of the parent 1,344,058 1,871,539

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST OCTOBER 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,344,058 1,871,539


OTHER COMPREHENSIVE INCOME

Deferred tax on revaluation 435,721 8,893
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR THE YEAR,
NET OF INCOME TAX

435,721

8,893
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 1,779,779 1,880,432

Total comprehensive income attributable to:
Owners of the parent 1,779,779 1,880,432

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

CONSOLIDATED BALANCE SHEET
31ST OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 10 1,782,569 3,839,717
Investments 11 - -
Investment property 12 - -
1,782,569 3,839,717

CURRENT ASSETS
Debtors 13 2,681,631 2,351,131
Cash at bank 2,647,170 2,231,579
5,328,801 4,582,710
CREDITORS
Amounts falling due within one year 14 3,016,002 2,674,494
NET CURRENT ASSETS 2,312,799 1,908,216
TOTAL ASSETS LESS CURRENT LIABILITIES 4,095,368 5,747,933

CREDITORS
Amounts falling due after more than one year 15 (248,841 ) (262,807 )

PROVISIONS FOR LIABILITIES 18 (413,619 ) (831,997 )
NET ASSETS 3,432,908 4,653,129

CAPITAL AND RESERVES
Called up share capital 19 100 100
Revaluation reserve 20 1,305,002 1,307,165
Retained earnings 20 2,127,806 3,345,864
SHAREHOLDERS' FUNDS 3,432,908 4,653,129

The financial statements were approved by the director and authorised for issue on 11th February 2025 and were signed by:





B L Gallagher - Director


B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

COMPANY BALANCE SHEET
31ST OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 10 976,059 1,386,339
Investments 11 2 2
Investment property 12 - 1,582,500
976,061 2,968,841

CURRENT ASSETS
Debtors 13 463,856 269,408
Cash at bank 300,470 145,621
764,326 415,029
CREDITORS
Amounts falling due within one year 14 450,262 344,855
NET CURRENT ASSETS 314,064 70,174
TOTAL ASSETS LESS CURRENT LIABILITIES 1,290,125 3,039,015

PROVISIONS FOR LIABILITIES 18 219,013 621,747
NET ASSETS 1,071,112 2,417,268

CAPITAL AND RESERVES
Called up share capital 19 100 100
Revaluation reserve 879,373 1,095,231
Retained earnings 191,639 1,321,937
SHAREHOLDERS' FUNDS 1,071,112 2,417,268

Company's profit for the financial year 1,261,118 1,358,406

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

The financial statements were approved by the director and authorised for issue on 11th February 2025 and were signed by:





B L Gallagher - Director


B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST OCTOBER 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1st November 2022 4 6,508,756 1,333,841 7,842,601

Changes in equity
Issue of share capital 96 - - 96
Dividends - (70,000 ) - (70,000 )
Total comprehensive income - 1,907,108 (26,676 ) 1,880,432
Contributions - (5,000,000 ) - (5,000,000 )
Balance at 31st October 2023 100 3,345,864 1,307,165 4,653,129

Changes in equity
Total comprehensive income - 1,781,942 (2,163 ) 1,779,779
Contributions - (3,000,000 ) - (3,000,000 )
Balance at 31st October 2024 100 2,127,806 1,305,002 3,432,908

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST OCTOBER 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1st November 2022 4 4,878,689 1,054,754 5,933,447

Changes in equity
Issue of share capital 96 - - 96
Dividends - (70,000 ) - (70,000 )
Total comprehensive income - 1,513,248 40,477 1,553,725
Contributions - (5,000,000 ) - (5,000,000 )
Balance at 31st October 2023 100 1,321,937 1,095,231 2,417,268

Changes in equity
Total comprehensive income - 1,869,702 (215,858 ) 1,653,844
Contributions - (3,000,000 ) - (3,000,000 )
Balance at 31st October 2024 100 191,639 879,373 1,071,112

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST OCTOBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,558,383 2,424,092
Interest paid (16,174 ) -
Interest element of hire purchase payments paid (27,658 ) (24,339 )
Tax paid (771,725 ) (510,077 )
Net cash from operating activities 1,742,826 1,889,676

Cash flows from investing activities
Purchase of tangible fixed assets (485,467 ) (99,095 )
Sale of tangible fixed assets 2,170,736 2,051,088
Sale of investment property - 1,079,665
Interest received 48,532 37,935
Net cash from investing activities 1,733,801 3,069,593

Cash flows from financing activities
Capital repayments in year (61,036 ) (352,052 )
Share issue - 96
Contributions (3,000,000 ) (5,000,000 )
Equity dividends paid - (70,000 )
Net cash from financing activities (3,061,036 ) (5,421,956 )

Increase/(decrease) in cash and cash equivalents 415,591 (462,687 )
Cash and cash equivalents at beginning of year 2 2,231,579 2,694,266

Cash and cash equivalents at end of year 2 2,647,170 2,231,579

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST OCTOBER 2024


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

2024 2023
£    £   
Profit before taxation 2,366,954 2,400,295
Depreciation charges 478,261 492,019
Profit on disposal of fixed assets (106,383 ) (681,512 )
Finance costs 43,832 24,339
Finance income (48,532 ) (37,935 )
2,734,132 2,197,206
(Increase)/decrease in trade and other debtors (330,500 ) 291,513
Increase/(decrease) in trade and other creditors 154,751 (64,627 )
Cash generated from operations 2,558,383 2,424,092

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 31st October 2024
31/10/24 1/11/23
£    £   
Cash and cash equivalents 2,647,170 2,231,579
Year ended 31st October 2023
31/10/23 1/11/22
£    £   
Cash and cash equivalents 2,231,579 2,694,266


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/11/23 Cash flow At 31/10/24
£    £    £   
Net cash
Cash at bank 2,231,579 415,591 2,647,170
2,231,579 415,591 2,647,170
Debt
Finance leases (556,400 ) 61,036 (495,364 )
(556,400 ) 61,036 (495,364 )
Total 1,675,179 476,627 2,151,806

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024


1. STATUTORY INFORMATION

B & R Gallagher (Holdings) Limited is a company limited by shares incorporated in England and Wales. The address of the registered office is given in the company information on page 1 of these financial statements.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Revenue is recognised based on accruals accounting. Recognition is based on completion of work.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Deprecation 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 cost
Office equipment-25% on cost
Motor vehicles-25% on cost
Freehold property-2% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


2. ACCOUNTING POLICIES - continued

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 588,767 447,924
Social security costs 63,826 45,821
Other pension costs 143,333 30,141
795,926 523,886

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

Employees 10 13
Directors 1 1
11 14

The average number of employees by undertakings that were proportionately consolidated during the year was 11 (2023 - 14 ) .

2024 2023
£    £   
Director's remuneration 50,000 9,192
Director's pension contributions to money purchase schemes 54,000 -

4. OPERATING PROFIT

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

2024 2023
£    £   
Other operating leases 115,265 20,428
Depreciation - owned assets 224,781 273,833
Depreciation - assets on hire purchase contracts 253,481 218,188
Profit on disposal of fixed assets (106,383 ) (681,512 )
Auditors' remuneration 19,498 14,725

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


5. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023
£    £   
Deposit account interest 19,693 29,292
Interest received 28,839 8,643
48,532 37,935

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Interest payable 16,174 -
Hire purchase 27,658 24,339
43,832 24,339

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 1,005,553 571,725

Deferred tax 17,343 (42,969 )
Tax on profit 1,022,896 528,756

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:

2024 2023
£    £   
Profit before tax 2,366,954 2,400,295
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 -
22.518 %)

591,739

540,498

Effects of:
Income not taxable for tax purposes - 41,832
Capital allowances in excess of depreciation - (52,541 )
Enhanced deductions - (4,777 )

assets
Change in tax rates - (4,266 )
Movement through OCI 435,721 8,010
Disallowable expenses 676 -
Indexation (5,240 ) -
Total tax charge 1,022,896 528,756

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


7. TAXATION - continued

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Deferred tax on revaluation 435,721 - 435,721

2023
Gross Tax Net
£    £    £   
Deferred tax on revaluation 8,893 - 8,893

8. INDIVIDUAL INCOME STATEMENT

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


9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of 1 each
Interim - 70,000

10. TANGIBLE FIXED ASSETS

Group
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st November 2023 2,152,725 2,300,806 691,675 68,430 5,213,636
Additions - 392,600 37,528 55,339 485,467
Disposals (2,152,725 ) - - - (2,152,725 )
At 31st October 2024 - 2,693,406 729,203 123,769 3,546,378
DEPRECIATION
At 1st November 2023 84,926 917,214 336,356 35,423 1,373,919
Charge for year 3,446 308,423 150,046 16,347 478,262
Eliminated on disposal (88,372 ) - - - (88,372 )
At 31st October 2024 - 1,225,637 486,402 51,770 1,763,809
NET BOOK VALUE
At 31st October 2024 - 1,467,769 242,801 71,999 1,782,569
At 31st October 2023 2,067,799 1,383,592 355,319 33,007 3,839,717

Included in the total net book value of tangible fixed assets was £984,917 (2023: £902,530) in respect of assets held under finance leases.

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


10. TANGIBLE FIXED ASSETS - continued

Company
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1st November 2023 538,180 1,100,301 195,979 65,899 1,900,359
Disposals (538,180 ) - - - (538,180 )
Revaluations - 241,093 25,956 53,477 320,526
At 31st October 2024 - 1,341,394 221,935 119,376 1,682,705
DEPRECIATION
At 1st November 2023 21,231 360,738 99,159 32,892 514,020
Charge for year 861 165,045 34,326 14,486 214,718
Eliminated on disposal (22,092 ) - - - (22,092 )
At 31st October 2024 - 525,783 133,485 47,378 706,646
NET BOOK VALUE
At 31st October 2024 - 815,611 88,450 71,998 976,059
At 31st October 2023 516,949 739,563 96,820 33,007 1,386,339

Cost or valuation at 31st October 2024 is represented by:

Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Valuation in 2024 241,093 25,956 53,477 320,526
Valuation in 2023 184,910 18,630 2,527 206,067
Valuation in 2022 303,753 75,412 10,490 389,655
Valuation in 2021 172,694 43,260 40,646 256,600
Valuation in 2020 83,871 25,045 3,666 112,582
Valuation in 2019 93,855 24,741 3,157 121,753
Cost 261,218 8,891 5,413 275,522
1,341,394 221,935 119,376 1,682,705

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st November 2023
and 31st October 2024 2
NET BOOK VALUE
At 31st October 2024 2
At 31st October 2023 2


B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


12. INVESTMENT PROPERTY - continued

12. INVESTMENT PROPERTY
Company
Total
£   
FAIR VALUE
At 1st November 2023 1,582,500
Disposals (1,582,500 )
At 31st October 2024 -
NET BOOK VALUE
At 31st October 2024 -
At 31st October 2023 1,582,500

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 2,516,785 2,159,053 - -
Amounts owed by group undertakings - - 437,198 240,000
Other debtors - 24,333 - 24,333
VAT 164,846 161,649 26,658 -
Prepayments and accrued income - 6,096 - 5,075
2,681,631 2,351,131 463,856 269,408

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 16) 246,523 293,593 - -
Trade creditors 1,719,472 1,507,304 238 29,828
Corporation Tax 805,553 571,725 447,028 186,715
Social security and other taxes 36,338 31,804 - -
VAT - - - 25,312
Accruals and deferred income 208,116 270,068 2,996 103,000
3,016,002 2,674,494 450,262 344,855

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

Group
2024 2023
£    £   
Hire purchase contracts (see note 16) 248,841 262,807

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 246,523 293,593
Between one and five years 248,841 262,807
495,364 556,400

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 120,837 121,176
Between one and five years 486,494 486,494
In more than five years 427,417 538,917
1,034,748 1,146,587

Company
Non-cancellable operating leases
2024 2023
£    £   
Within one year 111,500 111,500
Between one and five years 446,000 446,000
In more than five years 427,417 538,917
984,917 1,096,417

17. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Hire purchase contracts 495,364 556,400

The secured debts above are secured by the assets that they relate to.

18. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 413,619 831,997 219,013 621,747

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


18. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1st November 2023 831,997
Provided during year (418,378 )
Balance at 31st October 2024 413,619

Company
Deferred
tax
£   
Balance at 1st November 2023 621,747
Provided during year (402,734 )
Balance at 31st October 2024 219,013

19. CALLED UP SHARE CAPITAL

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

20. RESERVES

Group
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st November 2023 3,345,864 1,307,165 4,653,029
Profit for the year 1,344,058 1,344,058
Retained earnings transfer 437,884 (437,884 ) -
Deferred tax - 435,721 435,721
Contributions (3,000,000 ) - (3,000,000 )
At 31st October 2024 2,127,806 1,305,002 3,432,808

Company
Revaluation
reserve
£   
At 1st November 2023 1,095,231
Revaluation of fixed assets 320,526
Retained earnings transfer (608,584 )
Deferred tax 72,200

At 31st October 2024 879,373

B & R GALLAGHER (HOLDINGS) LIMITED (REGISTERED NUMBER: 06636445)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


20. RESERVES - continued

Retained earnings
The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.

Revaluation reserves
The revaluation reserve represents the cumulate effect of revaluations of tangible fixed assets where a policy of revaluation has been adopted.

21. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B. Gallagher Trustee Limited.

22. PENSION SCHEME

The group contributes to defined contribution pension schemes. The pension cost charged for the year represents contributions payable by the group to the schemes and amounted to £89,333 (2023: £30,142)