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REGISTERED NUMBER: 14971962 (England and Wales)
























GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 30 JUNE 2023 TO 31 MARCH 2024

FOR

BKS GROUP HOLDINGS LTD

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
For The Period 30 June 2023 to 31 March 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


BKS GROUP HOLDINGS LTD

COMPANY INFORMATION
For The Period 30 June 2023 to 31 March 2024







DIRECTORS: Mrs K E Langstaff
A J Langstaff





REGISTERED OFFICE: 3 Park Square East
Leeds
North Yorkshire
LS1 2NE





REGISTERED NUMBER: 14971962 (England and Wales)





AUDITORS: Fortus Audit LLP
Equinox House
Clifton Park, Shipton Road
York
Yorkshire
YO30 5PA

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

GROUP STRATEGIC REPORT
For The Period 30 June 2023 to 31 March 2024


The directors present their strategic report of the company and the group for the period 30 June 2023 to 31 March 2024.

REVIEW OF BUSINESS
The board has appointed Chris Kerfoot and Kelly Langstaff to join its ranks. Both individuals have extensive experience within the company, making them valuable additions at the board level. Chris contributes numerous years of operational expertise, while Kelly offers knowledge in administrative and organizational matters, ensuring the company remains compliant within the ever evolving and challenging legal landscape.

The last financial year yielded positive outcomes, with turnover aligning with the previous year. Gross profit margins were also in line with previous year, and post-tax profits exceeded our expectations, showing a return on our investment in research and development. Our key performance indicators emphasize the idea that turnover is vanity while profit is sanity, and this enhancement has brought us great satisfaction.

A return of 6.4% of turnover reflects strong performance, and we aim to build on this in the 2025 accounts by increasing turnover while maintaining this margin.

The outlook for 2025 is very promising, and we are confident we will build on these results.

Regarding the trading company balance sheet (B&K Systems Limited), the net asset position increased by over £1.2 million, bringing total net assets to approximately £7.91 million. A robust balance sheet enables the company to secure financing for daily cash flow management, as well as attract medium and long-term financing essential for our strategic growth objectives. Retaining profits is crucial to this strategy, providing the board with assurance that both short-term cash flow demands and medium to long-term goals can be met.

All of this is achieved within a strict reporting environment at both micro and macro levels, with clearly defined lines of responsibility extending to the myself and the board. This framework ensures robust accountability throughout all operational levels and facilitates timely, fact-based decision-making.

ON BEHALF OF THE BOARD:





A J Langstaff - Director


31 March 2025

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

REPORT OF THE DIRECTORS
For The Period 30 June 2023 to 31 March 2024


The directors present their report with the financial statements of the company and the group for the period 30 June 2023 to 31 March 2024.

INCORPORATION
The group was incorporated on 30 June 2023 and commenced trading on 28 September 2023.

DIVIDENDS
An interim dividend of 15.44 per share was paid on 31 March 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 31 March 2024 will be £ 26,250 .

DIRECTORS
The directors who have held office during the period from 30 June 2023 to the date of this report are as follows:

Mrs K E Langstaff - appointed 30 June 2023
A J Langstaff - appointed 30 June 2023

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

DISCLOSURE IN THE STRATEGIC REPORT
Disclosures required under S416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the company. This includes consideration of the future developments of the company.

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

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he 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 group's auditors are aware of that information.

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

REPORT OF THE DIRECTORS
For The Period 30 June 2023 to 31 March 2024


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

ON BEHALF OF THE BOARD:





A J Langstaff - Director


31 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BKS GROUP HOLDINGS LTD


Opinion
We have audited the financial statements of Bks Group Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 March 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 31 March 2024 and of the group's profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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

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

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

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

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

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

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

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BKS GROUP HOLDINGS LTD


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

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

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

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BKS GROUP HOLDINGS LTD


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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:

As part of the audit, we gained an understanding of the legal and regulatory framework applicable to the group and the industry in which it operates, and considered the risk of acts by the group that were contrary to applicable laws and regulations, including fraud. We considered the group’s compliance with laws and regulations that have a direct impact on the financial statements including, but not limited to, UK company law and UK tax legislation, and we have considered the extent to which non-compliance might have a material effect on the company financial statements.

Based on our understanding, we designed our audit procedures to identify instances of non-compliance with such laws and regulations. Our procedures included inquiries of management and of the directors, reviewing the financial statement disclosures, agreeing to underlying supporting documentation where necessary, review of Board meeting minutes and review of any applicable correspondence with legal counsel or tax authorities.

We considered the susceptibility of the financial statements to fraud through the risk of management override and inappropriate revenue recognition. In respect of management override, we tested journal entries processed during the year, and subsequent to the year end, and considered bias in accounting estimates, including provisions of trade debtors and stock. We specifically reviewed manual journal postings to revenue and cash to assess for any evidence of manipulation of account balances. Our risk assessment in respect of the potential for fraud in revenue identified specific areas of focus including recognition of revenue in relation to recognition of accrued and deferred income, cut-off, manual invoices and manual journals posted to revenue nominal codes.

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BKS GROUP HOLDINGS LTD


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.




Frances Howard FCA (Senior Statutory Auditor)
for and on behalf of Fortus Audit LLP
Equinox House
Clifton Park, Shipton Road
York
Yorkshire
YO30 5PA

31 March 2025

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

CONSOLIDATED
INCOME STATEMENT
For The Period 30 June 2023 to 31 March 2024

Notes £   

TURNOVER 3 7,450,058

Cost of sales 5,299,853
GROSS PROFIT 2,150,205

Administrative expenses 1,139,011
1,011,194

Other operating income 26,550
OPERATING PROFIT 5 1,037,744


Interest payable and similar expenses 6 117,886
PROFIT BEFORE TAXATION 919,858

Tax on profit 7 (238,705 )
PROFIT FOR THE FINANCIAL PERIOD 1,158,563
Profit attributable to:
Owners of the parent 1,158,563

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
For The Period 30 June 2023 to 31 March 2024

Notes £   

PROFIT FOR THE PERIOD 1,158,563


OTHER COMPREHENSIVE INCOME -
TOTAL COMPREHENSIVE INCOME FOR THE
PERIOD

1,158,563

Total comprehensive income attributable to:
Owners of the parent 1,158,563

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

CONSOLIDATED BALANCE SHEET
31 March 2024

Notes £    £   
FIXED ASSETS
Intangible assets 10 378,689
Tangible assets 11 1,349,330
Investments 12 -
Investment property 13 749,593
2,477,612

CURRENT ASSETS
Stocks 14 46,443
Debtors 15 3,274,048
Cash at bank 1,054,758
4,375,249
CREDITORS
Amounts falling due within one year 16 3,860,737
NET CURRENT ASSETS 514,512
TOTAL ASSETS LESS CURRENT LIABILITIES 2,992,124

CREDITORS
Amounts falling due after more than
one year

17

(1,607,616

)

PROVISIONS FOR LIABILITIES 20 (249,495 )
NET ASSETS 1,135,013

CAPITAL AND RESERVES
Called up share capital 21 2,700
Retained earnings 22 1,132,313
SHAREHOLDERS' FUNDS 1,135,013

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





A J Langstaff - Director


BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

COMPANY BALANCE SHEET
31 March 2024

Notes £    £   
FIXED ASSETS
Intangible assets 10 -
Tangible assets 11 -
Investments 12 2,802,700
Investment property 13 -
2,802,700

CREDITORS
Amounts falling due within one year 16 2,309,000
NET CURRENT LIABILITIES (2,309,000 )
TOTAL ASSETS LESS CURRENT LIABILITIES 493,700

CREDITORS
Amounts falling due after more than
one year

17

491,000
NET ASSETS 2,700

CAPITAL AND RESERVES
Called up share capital 21 2,700
SHAREHOLDERS' FUNDS 2,700

Company's profit for the financial year 26,250

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





A J Langstaff - Director


BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For The Period 30 June 2023 to 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 2,700 - 2,700
Dividends - (26,250 ) (26,250 )
Total comprehensive income - 1,158,563 1,158,563
Balance at 31 March 2024 2,700 1,132,313 1,135,013

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

COMPANY STATEMENT OF CHANGES IN EQUITY
For The Period 30 June 2023 to 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 2,700 - 2,700
Dividends - (26,250 ) (26,250 )
Total comprehensive income - 26,250 26,250
Balance at 31 March 2024 2,700 - 2,700

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

CONSOLIDATED CASH FLOW STATEMENT
For The Period 30 June 2023 to 31 March 2024

Notes £   
Cash flows from operating activities
Cash generated from operations 1 418,226
Interest paid (101,702 )
Interest element of hire purchase
payments paid

(16,184

)
Tax paid 218,370
Net cash from operating activities 518,710

Cash flows from investing activities
Purchase of intangible fixed assets (398,620 )
Purchase of tangible fixed assets (631,850 )
Sale of tangible fixed assets 58,724
Net cash from investing activities (971,746 )

Cash flows from financing activities
Issue of loan notes 2,800,000
repayment of loan notes (1,234,096 )
Capital repayments in year (31,860 )
Equity dividends paid (26,250 )
Net cash from financing activities 1,507,794

Increase in cash and cash equivalents 1,054,758
Cash and cash equivalents at beginning
of period

2

-

Cash and cash equivalents at end of
period

2

1,054,758

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
For The Period 30 June 2023 to 31 March 2024


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

£   
Profit before taxation 919,858
Depreciation charges 181,915
Government grants (4,050 )
Finance costs 117,886
1,215,609
Increase in stocks (46,443 )
Increase in trade and other debtors (3,120,736 )
Increase in trade and other creditors 2,369,796
Cash generated from operations 418,226

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:

Period ended 31 March 2024
31.3.24 30.6.23
£    £   
Cash and cash equivalents 1,054,758 -


3. ANALYSIS OF CHANGES IN NET DEBT

At 30.6.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank - 1,054,758 1,054,758
- 1,054,758 1,054,758
Debt
Finance leases - (664,438 ) (664,438 )
Debts falling due within 1 year - (1,366,735 ) (1,366,735 )
Debts falling due after 1 year - (1,203,501 ) (1,203,501 )
- (3,234,674 ) (3,234,674 )
Total - (2,179,916 ) (2,179,916 )

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For The Period 30 June 2023 to 31 March 2024


1. STATUTORY INFORMATION

Bks Group Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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.

These financial statements are prepared in sterling, which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest £.

Financial Reporting Standard 102 - reduced disclosure exemptions
In preparing the financial statements of the parent company, advantage has been taken of the
following disclosure exemptions under FRS 102:

- No cash flow statement has been prepared for the parent company.

- No disclosure has been given for the aggregate remuneration of the key management personnel of the parent company, as their remuneration is included in the total for the group as a whole.

Basis of consolidation
The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group
companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the
purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Period 30 June 2023 to 31 March 2024


2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Statement of Financial Position date and the amounts reported for the revenues and expenses during the year. However the nature of estimation means that actual outcomes could differ from those estimates.
The major areas of estimation and judgements within the financial statements are as follows:

a) Impairment of goodwill
The group reviews, on an annual basis, whether goodwill has suffered any impairment. The recoverable amount is determined based on value in use calculations. The use of this method requires the estimation of future cash flows and the choice of a discount rate in order to calculate the present value of the cash flows. Actual outcomes may vary.

(b) Useful lives of property, plant and equipment
Property, plant and equipment is depreciated over its useful life. Useful lives are based on the
management's estimates of the periods within which the assets will generate revenue and which are periodically reviewed for continued appropriateness. Changes to judgements can result in significant variations in the carrying value and amounts charged to the Consolidated Statement of
Comprehensive Income.

(c) Contract accounting
When the group recognises revenue as a construction contract or rendering of a service, where
revenue straddles a year-end, the group recognises revenue with reference to the stage of completion of the transaction or contract at the reporting period date. The company determines the stage of completion of a transaction or contract using a method that reliably measures the work performed, together with the associated costs.

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

Turnover represents revenue recognised in the accounts. Revenue comprises the fair value of the consideration received or receivable, net of value added tax.

Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is measured by surveys of work performed to date. Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Work in progress is stated at cost plus profit recognised to date less provision for foreseeable losses and less progress billings. Work in progress is classified as Amounts recoverable on contracts within the balance sheet.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Period 30 June 2023 to 31 March 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% 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.

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

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

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Period 30 June 2023 to 31 March 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period end and that are expected to apply to the reversal of the timing difference.

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

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.

3. TURNOVER

Turnover originates from the sole principal activity and entirely from the United Kingdom.

4. EMPLOYEES AND DIRECTORS
£   
Wages and salaries 1,222,628
Social security costs 129,688
Other pension costs 42,678
1,394,994

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Period 30 June 2023 to 31 March 2024


4. EMPLOYEES AND DIRECTORS - continued

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

Directors and senior management 5
Administration 36
Direct 29
70

The average number of employees by undertakings that were proportionately consolidated during the period was 70 .

£   
Directors' remuneration 28,452

Key management personnel remuneration amounted to £82,194.

5. OPERATING PROFIT

The operating profit is stated after charging:

£   
Hire of plant and machinery 497,361
Other operating leases 74,007
Depreciation - owned assets 105,882
Depreciation - assets on hire purchase contracts 56,102
Goodwill amortisation 19,931
Auditors' remuneration 7,500

6. INTEREST PAYABLE AND SIMILAR EXPENSES
£   
Bank loan interest 86,863
Interest payable 14,839
Hire purchase 16,184
117,886

7. TAXATION

Analysis of the tax credit
The tax credit on the profit for the period was as follows:
£   
Current tax:
UK corporation tax (216,511 )

Deferred tax (22,194 )
Tax on profit (238,705 )

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Period 30 June 2023 to 31 March 2024


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
£   
Ordinary shares of 1 each
Interim 26,250

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
Additions 398,620
At 31 March 2024 398,620
AMORTISATION
Amortisation for period 19,931
At 31 March 2024 19,931
NET BOOK VALUE
At 31 March 2024 378,689

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
Additions 253,605 492,472 10,693
Disposals - (27,500 ) -
At 31 March 2024 253,605 464,972 10,693
DEPRECIATION
Charge for period 29,295 46,497 1,069
At 31 March 2024 29,295 46,497 1,069
NET BOOK VALUE
At 31 March 2024 224,310 418,475 9,624

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Period 30 June 2023 to 31 March 2024


11. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
Additions 808,949 4,319 1,570,038
Disposals (31,224 ) - (58,724 )
At 31 March 2024 777,725 4,319 1,511,314
DEPRECIATION
Charge for period 84,691 432 161,984
At 31 March 2024 84,691 432 161,984
NET BOOK VALUE
At 31 March 2024 693,034 3,887 1,349,330

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
Additions 218,050 341,876 559,926
At 31 March 2024 218,050 341,876 559,926
DEPRECIATION
Charge for period 21,805 34,297 56,102
At 31 March 2024 21,805 34,297 56,102
NET BOOK VALUE
At 31 March 2024 196,245 307,579 503,824

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
Additions 2,802,700
At 31 March 2024 2,802,700
NET BOOK VALUE
At 31 March 2024 2,802,700

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Period 30 June 2023 to 31 March 2024


12. FIXED ASSET INVESTMENTS - continued

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

Subsidiaries

BKS Holdings Limited
Registered office: Unit S Gildersome Spur, Morley, Leeds, LS27 7JZ
Nature of business: Holding Company
%
Class of shares: holding
Ordinary 100.00

B&K Systems Limited
Registered office: Unit S Gildersome Spur, Morley, Leeds, LS27 7JZ
Nature of business: Specialised construction activities
%
Class of shares: holding
Ordinary 100.00


13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 30 June 2023
and 31 March 2024 749,593
NET BOOK VALUE
At 31 March 2024 749,593
At 29 June 2023 749,593

Investment property was valued during the year on an open market value basis by the Directors,
based on a report received from AWS Limited, an independent valuer.

14. STOCKS


Group
£   
Stocks 46,443

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Period 30 June 2023 to 31 March 2024


15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group
£   
Amounts recoverable on contract 2,816,380
Corporation tax 83,588
No description 26,000
VAT 122,290
Prepayments and accrued income 225,790
3,274,048

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group Company
£    £   
Bank loans and overdrafts (see note 18) 291,830 -
Other loans (see note 18) 1,074,905 1,074,905
Hire purchase contracts (see note 19) 260,323 -
Trade creditors 1,721,234 -
Amounts owed to group undertakings - 1,234,095
Corporation tax 1,859 -
Social security and other taxes 101,346 -
No description 21,825 -
Directors' current accounts 171,776 -
Accrued expenses 215,639 -
3,860,737 2,309,000

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


Group Company
£    £   
Bank loans (see note 18) 712,501 -
Other loans (see note 18) 491,000 491,000
Hire purchase contracts (see note 19) 404,115 -
1,607,616 491,000

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Period 30 June 2023 to 31 March 2024


18. LOANS

An analysis of the maturity of loans is given below:


Group Company
£    £   
Amounts falling due within one year or on demand:
Bank loans 291,830 -
Other loans 1,074,905 1,074,905
1,366,735 1,074,905
Amounts falling due between one and two years:
Bank loans - 1-2 years 291,829 -
Other loans - 1-2 years 262,500 262,500
554,329 262,500
Amounts falling due between two and five years:
Bank loans - 2-5 years 242,799 -
Other loans - 2-5 years 228,500 228,500
471,299 228,500
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 177,873 -

Other loans relate to loan notes issued on 28 September 2023 and repayable by 31 March 2027.

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire
purchase
contracts
£   
Net obligations repayable:
Within one year 260,323
Between one and five years 404,115
664,438

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Period 30 June 2023 to 31 March 2024


19. LEASING AGREEMENTS - continued

Group
Non- cancellable operating leases
£   
Within one year 148,131
Between one and five years 405,429
553,560

20. PROVISIONS FOR LIABILITIES


Group
£   
Deferred tax 249,495

Group
Deferred
tax
£   
On acquisition 271,689
Released in the year (22,194 )
Balance at 31 March 2024 249,495

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
2,700 Ordinary 1 2,700

2,700 Ordinary shares of 1 each were allotted and fully paid for cash at par during the period.

22. RESERVES

Group
Retained
earnings
£   

Profit for the period 1,158,563
Dividends (26,250 )
At 31 March 2024 1,132,313

BKS GROUP HOLDINGS LTD (REGISTERED NUMBER: 14971962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Period 30 June 2023 to 31 March 2024


22. RESERVES - continued

Company
Retained
earnings
£   

Profit for the period 26,250
Dividends (26,250 )
At 31 March 2024 -