The directors present the strategic report for the year ended 30 September 2024.

General sentiment was mixed during the financial year, with the Ukrainian war in the second year and Gaza conflict deepening. Although, utility costs have reduced they are still over double compared to historic levels. Also, all other operating costs have continued to increase during the reporting period.

On a positive note, turnover has increased and although it was below budget and expectations, it was a great achievement against a declining market. With a static market demand and a significant supply growth through the opening of two new 4star hotels it was remarkable that the sales and revenue team managed to avert a decline in RevPar and turnover.

Overall profitability although strong was negatively impacted by the sustained increases in costs and the continued investment in the physical aspects of the property in order to develop and protect the value of the real-estate.

That said the directors are very please with both the operational and financial performance of the business during the financial year.

Further more the directors investing in the human resource capability of the business to ensure resilience and greater focus on the development and re-engineering the hotels product and service offering. This focused approach allowed the company to command a market leading position within Sheffield significantly improving the hotels market share and yield and retaining its 1st position on TripAdvisor for the 3rd consecutive year.

The forthcoming financial year 2024/2025 is expected to be extremely challenging for business. Given the promise of the new government to significantly increase business taxes, minimum wages, employer NI and driving a negative economic rhetoric. All this combined with the structural challenges from Brexit, the war in the Ukraine and Israel/Palestine will significantly undermined business confidence and undoubtable impact consumer and business behaviour.

Although, the directors are cognisant of the pending environmental business challenges they are satisfied that the actions taken are correct and appropriate for the continued success of the company throughout the year.

Staff risk, financial risk and regulatory risk

Historically the business has benefitted from relatively low staff turnovers. By and large the same management team has been employed by the hotel for over five years ensuring that the necessary people skills and talent has been retained withing the business.

This does allow the business to improve productivity and provide a superior quality of customer service to drive the business forward. This strategy proved to be successful and undoubtably reduced operational risks to the business.

The business had no bank borrowings at the year end and therefore the business is not at risk through interest rate movements. However, the company has entered into an arrangement with Santander to provide a Cross Guarantee for Amber Hotels Limited to support the financing of the redevelopment works of Beck Conroy Consulting Limited. There is a provision in the loan documentation for this Cross Guarantee to be rescinded after successful redevelopment work and meeting the financial covenants.

The company does comply with various regulations such as health and safety, food hygiene, fire procedures etc. and maintains a high level of insurance. The risk is mitigated by a combination of staff training and monitoring.

The company monitors its performance through the use of key performance indicators.

During the period under review:

a) Turnover has increased by £74,289 (+1.4%).

b) Staff turnover is at 5% (6%)

c) Occupancy has increase by 0.75 occupancy points

d) Average daily rate has increased by £0.54 (+0.6%)

These key performance indicators are monitored through management accounts and these are reviewed in comparison to prior periods and budgets. Any adverse trends are identified ant an early stage and investigated.

By order of the board

The directors present their annual report and financial statements for the year ended 30 September 2024.

The principal activity of the company continued to be that of hoteliers.

The results for the year are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

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

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

We have audited the financial statements of Beck Conroy Consulting Limited (the 'company') for the year ended 30 September 2024 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

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 directors' report.

We have nothing to report in respect of the following matters in relation to which 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.

As explained more fully in the directors' responsibilities statement, 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 is 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.

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 an auditor's report 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.

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 company and the sector in which it operates, we identified the principal risks of non-compliance with laws and regulations related to the acts by the company , which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the accounts. We also considered those laws and regulations that have a direct impact on the preparation of the accounts such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the accounts (including the risk of override of controls), and determined that the principal risks were related to revenue recognition and the valuation of the company's tangible fixed assets.

Audit procedures performed included: review of the accounts disclosures to underlying supporting documentation, review of correspondence with legal advisors, enquiries of management, and in testing of journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the accounts, the less likely we would become aware of it. Also, 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 or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

Beck Conroy Consulting Limited is a private company limited by shares incorporated in England and Wales. The registered office is Crowne Plaza, Royal Victoria, Victoria Station Road, Sheffield, South Yorkshire, S4 7YE.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Asgard Group Limited. These consolidated financial statements are available from its registered office at the Crowne Plaza, Royal Victoria, Victoria Station Road, Sheffield S4 7YE.

The Asgard Group Ltd, of which the company is a member, continues to endure difficult economic conditions and rising costs, and will continue to do so in 2025/26, particularly with the changes to National Insurance. true

Despite these headwinds, the Group has again managed to generate significant growth, continue to repay debt, invest in its properties, meet its financial obligations and to maintain the cashflow position. Further, at September 2024 the business was fully compliant with its financial covenants imposed by its lender Santander.

In terms of loan facilities, the Group has two loans through its subsidiary Amber Hotels; the first being a mortgage debenture and the second being a CIBILS loan. The total outstanding bank loans for the Group were £5.8m (2023: £6.9m), with repayments in the year against both loans. Against this debt the Group holds £4.4m of positive bank balances. The amount of the CBILS loan equal to the remaining loan of £0.8m is ringfenced for emergencies.

General trading conditions for the year are expected to continue; therefore, the directors are confident that the budgets for 2025/2026 are imminently achievable. However, should there be any unforeseen economic shocks, directors are confident that the financial reserves, the expected revenues from the sale of the properties in Adapt plus the provision of the CIBILS loan are sufficient to protect the business to meet the companies’ financial obligations and the meet their debts as they fall due for a period of at least 12 months from the period of the approval of the accounts.

The accounts have therefore been prepared on the going concern basis.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Freehold buildings are depreciated over 100 years. This depreciation policy being a reflection of the historic nature of the building, the building of which was built in 1862.

Freehold land is not depreciated.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

Included within other creditors are other borrowings which relate to a loan to Beck Conroy Consulting Limited from a family member of a director. The loan is interest free and the related party has agreed to be repaid £2,000 per month. The balance of this loan due within one year is £24,000 (2023: £24,000).

Other borrowings relate to a loan to Beck Conroy Consulting Limited from a family member of a director. The loan is interest free and the related party has agreed to be repaid £2,000 per month. The loan is classified as a basic financial instrument and accounted for in accordance with the accounting policy described in note 1.10. The long term element of the loan is included in creditors over more than one year.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

There is a bank loan in Amber Hotels Limited, a company in the same group as Beck Conroy Consulting Limited, that is secured via a fixed and floating charge over that company's assets and undertakings. There is also a legal first charge over the freehold property of Beck Conroy Consulting Limited known as Crowne Plaza, Royal Victoria, Sheffield.

Where appropriate the company recognises a provision for liabilities when it is probable that an outflow of economic resources will be required and for which a reliable estimate can be made of the obligations.

The company has provided an unlimited guarantee for the bank loans of Amber Hotels Limited. At the balance sheet date the amount guaranteed by the company was £5,097,893 (2023: £5,514,560). The directors believe that it cannot be considered that this guarantee will be exercised, and accordingly no further provision has been recognised.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

During the year the company entered into the following transactions with related parties:

Abrita Limited Liability Partnership (Abrita LLP)

An LLP under common control.

During the year, Abrita LLP received marketing and sales support services totalling £75,580 (2023: £76,730) from the company.

The balance due from Abrita LLP as at 30 September 2024 was £63,791 (2023: £47,483). The loan is interest free, has no repayment schedule and has no fixed repayment date.

BCC Management Consultants Limited (BCCMC Limited)

A company under common control.

The balance due from BCCMC Limited as at 30 September 2024 was £17,845 (2023: £17,683). The loan is interest free, has no repayment schedule and has no fixed repayment date.

Nanoplas Technologies Limited (NT Limited)

A company under common control.

The balance due from NT Limited as at 30 September 2024 was £4,360 (2023: £4,113). The loan is interest free, has no repayment schedule and has no fixed repayment date.

Annapurna Group Limited (AG Limited)

A company under common control.

The balance due from AG Limited to the Company as at 30 September 2024 was £163,442 (2023: £50,000).

Annapurna Group Limited (AG Limited)

A company under common control.

The balance due from AG Limited as at 30 September 2024 was £163,442 (2023: £50,000). The loan is interest free, has no repayment schedule and has no fixed repayment date.

Asgard Group Limited

Asgard Group Limited owns 80% of the share capital of Beck Conroy Consulting Limited.

During the year, Beck Conroy Consulting Limited was charged £550,000 (2023: £150,000) for management fees.

The balance due to Asgard Group Limited as at 30 September 2024 was £174,279 (2023: £399,977). The amount due is interest free, has no repayment schedule and has no fixed repayment date.

Adapt Conversions Limited

Adapt Conversions Limited are 100% owned by Asgard Group Limited, the ultimate parent company of Beck Conroy Consulting Limited.

The balance due from Adapt Conversions Limited as at 30 September 2024 was £3,884,576 (2023: £3,318,381). The loan is interest free, has no repayment schedule and has no fixed repayment date.

Amber Hotels Limited

Amber Hotels Limited are 100% owned by Asgard Group Limited, the ultimate parent company of Beck Conroy Consulting Limited.

The balance due to Amber Hotels Limited as at 30 September 2024 was £2,943,912 (2023: £1,833,121). The loan is interest free, has no repayment schedule and had no repayment date.

Acorn Developments Investment Limited

Acorn Developments Investment Limited are 100% owned by Asgard Group Limited, the ultimate parent company of Beck Conroy Consulting Limited.

The balance due from Acorn Developments Investment Limited as at 30 September 2024 was £665 (2023: £652). The loan is interest free, has no repayment schedule and has no fixed repayment date.

Asgard Group Limited is regarded by the directors as being the company's immediate and ultimate parent company. This is the smallest and largest group in which the results of the company are consolidated. Copies of the consolidated financial statements are available from the registered office, Crowne Plaza, Royal Victoria, Victoria Station Road, Sheffield S4 7YE.