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REGISTERED NUMBER: 10287962 (England and Wales)


























GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

BMH GROUP HOLDINGS LIMITED

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Director 5

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 19


BMH GROUP HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTOR: Mr C P Watson





SECRETARY: Mrs K A Rousell





REGISTERED OFFICE: Unit 2 Plymouth Avenue
Brookhill Industrial Estate
Pinxton
Derbyshire
NG16 6RA





REGISTERED NUMBER: 10287962 (England and Wales)





AUDITORS: Langdowns DFK Limited
Statutory Auditor
Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


The director presents his strategic report of the company and the group for the year ended 30th September 2024.

REVIEW OF BUSINESS
BMH Group Holdings is the Parent Company for BMH Scaffolding Limited, and holds assets which return an annual rental income.

When comparing 2024 and 2023, it is important to reflect that in June 2023, the group undertook a strategic demerger and restructuring to form two separate groups instead of one. Phoenix UK Group Limited is currently the parent company for Phoenix Brickwork (UK) Limited and Phoenix Drywall (UK) Limited. BMH Group Holdings Limited is the parent company for B M H Scaffolding Limited.

This has impacted the group consolidated accounts for the previous financial year with income and expenditure being split during the previous financial year between both parent companies. Phoenix Brickwork (UK) Limited's results are consolidated into BMH Group Holdings Limited up to the restructuring and in Phoenix UK Group Limited since the restructuring.

As a result of the restructuring, BMH Group Holdings Limited's consolidated results for the prior year include a loss on disposal of Phoenix Brickwork (UK) Limited of £2.1m. Phoenix UK Group Limited's consolidated results for the prior year include fully amortised negative goodwill of £2.1m.


B M H Scaffolding Limited is a scaffolding company based in the centre of the UK that has seen significant growth by entering new market sectors. The company regularly wins work in association with the main construction companies within the United Kingdom with contracts up to £3.2m in value spanning across multiple years with a diverse portfolio within construction, care and education, refurbishment, and housing sectors.

During this financial year their strategy has been controlled growth. This has been achieved by gaining new clients within the housing and commercial sector and being rewarded larger construction projects than before. They have also invested heavily in fixed assets to meet the demand on growth such as scaffolding equipment and fleet.

This can be seen in the increase in turnover by 39% or £2.3m (2024: £8.3m, 2023: £6m) in the business along with an improvement in the profit before tax of the business of 36% or £140k (2024: £524k, 2023: £384k).

The management swiftly adapted to the changing circumstances and implemented stringent health and safety measures to protect their employees.

The group remained operational with continued profits being achieved by the business by having a strategic plan and the management working closely together to meet the needs of the business.

We have maintained close communication with our clients and suppliers, ensuring minimal disruption to our production and distribution processes. This adaptability and resilience enabled us to meet the ongoing demand for the business.


BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Cashflow availability in the business

Increased inflationary pressure on costs for the businesses - due to costs associated with projects being key to the actual profitability of the business, the inflation rate in the UK is deemed to be a key risk to the business. To mitigate this risk, the business looks to avoid locking into costs in contracts which are likely to result in losses being made.

The group has also reviewed procurement procedures to produce KPIs on the measure of credit terms offered by suppliers to maximise cashflow. As well as how IT can aid the back office workings of the business.

The businesses have also ensured capital expenditure and borrowings is for essential purposes only.

The scaffolding hire bill is a target for B M H Scaffolding Limited to reduce its hire cost in order to achieve an increase in Fixed Assets and improved profitability.

Project management risks

The group keeps strong controls in place regarding spending, having a centralised procurement team who regularly assess costs for the business. Additionally, there is a group ethos in place to incentivise the employees to keep control of costs associated with projects along with assessing non-essential spend.

Improvement to commercial reporting around live projects ensures that the group is proactive in monitoring real time information to react quickly as needed, with information relayed to the relevant management personnel.

Environmental risks

The group assigns experienced employees who oversee the key departments of the business. This is completed so that costs are accurately judged, and pricing of contracts are appropriate for the business to continue to make profits along with ensuring that payment terms support the cashflow requirements of the business.

Organisational risk

The business maintains a high level of standards, exceeding those required by law in the United Kingdom, and has many accreditations. The business ensures that standards are met by suppliers such that comfort can be obtained that the businesses are working towards common goals.

The business seeks to ensure that employees in the business are rewarded for the performance of the group. There are regular reviews of the business structure along with ensuring that there are incentives in place to keep key personnel in the business.

GROWTH AND EXPANSION
B M H Scaffolding Limited has increased in turnover and a higher net profit following significant investment in fixed assets. Growth has been tracked during the financial year to ensure it is sustainable and controlled. Their ability to deliver high-quality products within specified timelines played a crucial role in winning these contracts.

The group of companies has strengthened its position as a trusted supplier within the construction industry to position the businesses for further growth. There are no immediate plans to change the business model in the short term. B M H Scaffolding Limited has forecasted no further growth in order for the return on current investments to be repaid before further growth plans.

Strengthened Management Team - recognising the need for a more streamlined and efficient organisational structure, the group invested in enhancing its management team.

The management team brought diverse expertise and experience, contributing to improved operational efficiency, enhanced customer service, and effective resource allocation. Their strategic vision and leadership have been instrumental in driving the group's profit and positioning them for long-term success.


BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FINANCIAL PERFORMANCE
Key Performance Indicators:




2024


2023 - excluding
exceptional loss on
disposal




2023
Turnover £8.6m £17.1m £17.1m
Profit / (loss) before tax £746k £1m (£1.1m)
Turnover growth (49.4%) (29.4%) (29.4%)
Gross profit margin 33.1% 26.1% 26.1%
Profit before tax margin 8.6% 5.7% (6.5%)
Return on capital employed 21.7% 24.7% (38.6%)

The financial performance of BMH Group Holdings Limited remained strong during the year. Despite the challenging economic climate, the profit before tax increased by £1.8m to 746k from financial year 2023.

The 2023 group restructure has impacted the comparison between 2023 and 2024 as previously noted.

FUTURE OUTLOOK
Looking ahead, the group is well-positioned for continued success. They will leverage their strong market presence, skilled workforce, and technological advancements to capture new opportunities, and assess the current portfolio of the business to ensure that positive projects are taken on by the business.

Strategic focus will be on sustainable growth, innovation, and customer-centricity. They will continue to invest in further resources for the business to ensure that there is scope along with good quality resources being available.

RESEARCH AND DEVELOPMENT
B M H Scaffolding Limited have been developing internal IT systems by ways of a bespoke App that allows efficient and accurate record keeping in real time information. This has been a long-term project that is ever evolving with their own coding being written. This is always well received by internal users and clients.

They also began researching a new scaffolding tool that allows more efficient erection of system scaffolding. A prototype has been developed, trialled and is now under review for further adaptation.

ON BEHALF OF THE BOARD:





Mr C P Watson - Director


27th June 2025

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


The director presents his report with the financial statements of the company and the group for the year ended 30th September 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30th September 2024 amounted to £201,000 2023: £23,097).

DIRECTOR
Mr C P Watson held office during the whole of the period from 1st October 2023 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT
Items required under Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports Regulations) 2008 to be disclosed in the Report of the Directors are set out in the Strategic Report in accordance with section 414C(11) of the Companies Act 2006.

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, Langdowns DFK Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr C P Watson - Director


27th June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BMH GROUP HOLDINGS LIMITED


Opinion
We have audited the financial statements of BMH Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th September 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 30th September 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
BMH GROUP 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 five, 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
BMH GROUP 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.

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 our audit planning procedures we identify the significant laws and regulations applicable to the group based upon our knowledge of the group, the industry in which it operates and from making enquiries with management. We consider those laws and regulations where non-compliance may have a material effect on the financial statements and those which have a direct impact on the financial statements. We identified that the most significant laws and regulations applicable during the year were compliance with the requirements of the Companies Act 2006, compliance with Health and Safety Regulations, ISO certification and compliance via ISOcomply.

Audit procedures performed by the engagement team in relation to laws and regulations include making enquiries of management as to any known or suspected instances of non-compliance, maintaining awareness throughout the course of the audit as to any indications of instances of non-compliance, reviewing legal and professional invoices and undertaking a review of the disclosures in the financial statements to supporting information and to disclosure checklists.

We also consider areas that are at a higher risk of causing material misstatement in the financial statements due to irregularities, including those resulting from fraud and how such fraud may occur. We discuss with senior management the key controls in place to mitigate the risk of fraud and enquire as to whether they are aware of, or suspect, any fraudulent activities having taken place.

Throughout the audit, we maintain an appropriate level of professional scepticism when provided with information and explanations. We consider the appropriateness of significant accounting journals that were processed during the year, assess the reasonableness of any significant accounting estimates and consider whether there were any indications of bias by management during the year that represents a risk of material misstatement due to fraud. We also carry out analytical procedures to identify any unusual or unexpected variances to expectations as these may be an indication of management over-ride or management bias.

As group auditors we are required to communicate with component auditors to request identification of any instances of non-compliance with laws and regulations that could give rise to a material misstatement of the group financial statements. The engagement partner considers that the engagement team collectively has the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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
BMH GROUP 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.




Graham Taylor (Senior Statutory Auditor)
for and on behalf of Langdowns DFK Limited
Statutory Auditor
Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD

27th June 2025

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   

TURNOVER 8,681,836 17,170,673

Cost of sales 5,805,805 12,732,039
GROSS PROFIT 2,876,031 4,438,634

Administrative expenses 2,230,110 5,546,727
645,921 (1,108,093 )

Other operating income 85,274 137,634
OPERATING PROFIT/(LOSS) 5 731,195 (970,459 )

Income from fixed asset investments 1,529 2,160
Interest receivable and similar income 65,884 42,771
67,413 44,931
798,608 (925,528 )

Interest payable and similar expenses 6 51,679 193,670
PROFIT/(LOSS) BEFORE TAXATION 746,929 (1,119,198 )

Tax on profit/(loss) 7 219,945 349,036
PROFIT/(LOSS) FOR THE FINANCIAL YEAR 526,984 (1,468,234 )
Profit/(loss) attributable to:
Owners of the parent 410,549 (1,468,234 )
Non-controlling interests 116,435 -
526,984 (1,468,234 )

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2024 2023
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 526,984 (1,468,234 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

526,984

(1,468,234

)

Total comprehensive income attributable to:
Owners of the parent 410,549 (1,468,234 )
Non-controlling interests 116,435 -
526,984 (1,468,234 )

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

CONSOLIDATED BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 616,609 713,830
Tangible assets 11 2,544,858 1,852,188
Investments 12 - 81,148
Investment property 13 576,904 519,725
3,738,371 3,166,891

CURRENT ASSETS
Debtors 14 4,084,245 3,020,809
Cash at bank and in hand 367,986 342,422
4,452,231 3,363,231
CREDITORS
Amounts falling due within one year 15 4,832,480 4,023,682
NET CURRENT LIABILITIES (380,249 ) (660,451 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,358,122

2,506,440

CREDITORS
Amounts falling due after more than one
year

16

(289,576

)

(404,630

)

PROVISIONS FOR LIABILITIES 20 (607,755 ) (456,753 )
NET ASSETS 2,460,791 1,645,057

CAPITAL AND RESERVES
Called up share capital 21 92 92
Revaluation reserve 22 60,990 -
Capital redemption reserve 22 11 11
Share-based payments 22 1,187 -
Other reserves 22 407,240 -
Retained earnings 22 1,781,972 1,644,952
2,251,492 1,645,055

NON-CONTROLLING INTERESTS 209,299 2
TOTAL EQUITY 2,460,791 1,645,057

The financial statements were approved by the director and authorised for issue on 27th June 2025 and were signed by:





Mr C P Watson - Director


BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

COMPANY BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 182,901 51,777
Investments 12 1,136,911 1,597,030
Investment property 13 576,904 519,725
1,896,716 2,168,532

CURRENT ASSETS
Debtors 14 2,362,179 1,099,706
Cash at bank 248,430 243,812
2,610,609 1,343,518
CREDITORS
Amounts falling due within one year 15 2,312,832 1,970,993
NET CURRENT ASSETS/(LIABILITIES) 297,777 (627,475 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,194,493

1,541,057

PROVISIONS FOR LIABILITIES 20 40,751 31,274
NET ASSETS 2,153,742 1,509,783

CAPITAL AND RESERVES
Called up share capital 21 92 92
Revaluation reserve 22 60,990 -
Capital redemption reserve 22 11 11
Retained earnings 22 2,092,649 1,509,680
2,153,742 1,509,783

Company's profit for the financial year 844,959 278,558

The financial statements were approved by the director and authorised for issue on 27th June 2025 and were signed by:





Mr C P Watson - Director


BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Called up Capital
share Retained Revaluation redemption
capital earnings reserve reserve
£    £    £    £   
Balance at 1st October 2022 103 3,763,196 - -

Changes in equity
Purchase of own shares (11 ) (624,003 ) - 11
Dividends - (23,097 ) - -
Total comprehensive income - (1,468,234 ) - -
Changes in ownership interests in
subsidiaries

-

(2,910

)

-

-
Balance at 30th September 2023 92 1,644,952 - 11

Changes in equity
Dividends - (201,000 ) - -
Total comprehensive income - 410,549 - -
Changes in ownership interests in
subsidiaries

-

(11,539

)

-

-
Transfer - (60,990 ) 60,990 -
Balance at 30th September 2024 92 1,781,972 60,990 11
Share-based Other Non-controlling Total
payments reserves Total interests equity
£    £    £    £    £   
Balance at 1st October 2022 - - 3,763,299 - 3,763,299

Changes in equity
Purchase of own shares - - (624,003 ) - (624,003 )
Dividends - - (23,097 ) (2,910 ) (26,007 )
Total comprehensive income - - (1,468,234 ) - (1,468,234 )
Changes in ownership interests in
subsidiaries

-

-

(2,910

)

2,912

2
Balance at 30th September 2023 - - 1,645,055 2 1,645,057

Changes in equity
Dividends - - (201,000 ) (130,887 ) (331,887 )
Total comprehensive income - - 410,549 116,435 526,984
Changes in ownership interests in
subsidiaries

-

-

(11,539

)

223,749

212,210
Equity settled share-based
payments

1,187

-

1,187

-

1,187
Consideration received in excess of
non-controlling interest increase

-

407,240

407,240

-

407,240
Balance at 30th September 2024 1,187 407,240 2,251,492 209,299 2,460,791

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Called up Capital
share Retained Revaluation redemption Total
capital earnings reserve reserve equity
£    £    £    £    £   
Balance at 1st October 2022 103 1,878,222 - - 1,878,325

Changes in equity
Purchase of own shares (11 ) (624,003 ) - 11 (624,003 )
Dividends - (23,097 ) - - (23,097 )
Total comprehensive income - 278,558 - - 278,558
Balance at 30th September 2023 92 1,509,680 - 11 1,509,783

Changes in equity
Dividends - (201,000 ) - - (201,000 )
Total comprehensive income - 844,959 - - 844,959
Transfer - (60,990 ) 60,990 - -
Balance at 30th September 2024 92 2,092,649 60,990 11 2,153,742

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,316,396 (642,929 )
Interest paid (6,277 ) (138,895 )
Interest element of hire purchase payments
paid

(45,402

)

(54,775

)
Tax paid (1 ) (4,567 )
Net cash from operating activities 1,264,716 (841,166 )

Cash flows from investing activities
Purchase of tangible fixed assets (1,086,989 ) (1,520,107 )
Purchase of fixed asset investments (28,082 ) (20,716 )
Purchase of investment property (49,179 ) (46,725 )
Sale of tangible fixed assets 61,724 166,583
Sale of fixed asset investments 288,789 300
Cash in subsidiaries on disposal - 136,541
Interest received 65,884 42,771
Dividends received 1,529 2,160
Net cash from investing activities (746,324 ) (1,239,193 )

Cash flows from financing activities
New loans in year 756,196 2,067,630
Loan repayments in year 328,228 (487,242 )
Capital repayments net of finance raised (946,947 ) 685,778
Amount introduced by directors - 193,017
Amount withdrawn by directors (298,418 ) -
Share buyback - (624,003 )
Subsidiary share issue - 2
Equity dividends paid (201,000 ) (22,997 )
Dividends paid to minority interests (130,887 ) (2,910 )
Net cash from financing activities (492,828 ) 1,809,275

Increase/(decrease) in cash and cash equivalents 25,564 (271,084 )
Cash and cash equivalents at beginning
of year

2

342,422

613,506

Cash and cash equivalents at end of year 2 367,986 342,422

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit/(loss) before taxation 746,929 (1,119,198 )
Depreciation charges 447,375 571,958
(Profit)/loss on disposal of fixed assets (17,559 ) 2,054,361
Gain on revaluation of fixed assets (28,980 ) (17,658 )
Movement in provisions - (120,298 )
Share based payments 1,187 -
Finance costs 51,679 193,670
Finance income (67,413 ) (44,931 )
1,133,218 1,517,904
Increase in trade and other debtors (710,762 ) (626,519 )
Increase/(decrease) in trade and other creditors 893,940 (1,534,314 )
Cash generated from operations 1,316,396 (642,929 )

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 30th September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 367,986 342,422
Year ended 30th September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 342,422 613,506


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank and in hand 342,422 25,564 367,986
342,422 25,564 367,986
Debt
Finance leases (1,036,116 ) 946,947 (89,169 )
Debts falling due within 1 year (52,586 ) (243,817 ) (296,403 )
Debts falling due after 1 year (19,167 ) (204,502 ) (223,669 )
(1,107,869 ) 498,628 (609,241 )
Total (765,447 ) 524,192 (241,255 )

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


4. DISPOSAL OF BUSINESS

During the previous year, the company disposed of three subsidiaries. The cash flow has been adjusted to reflect the following assets and liabilities on disposal:

£
Fixed Assets 1,431,471
Stock 5,000
Debtors 3,130,387
Tax debtor 290,750
Cash at bank and in hand 200
Overdraft (136,741 )
Creditors - non debt (513,623 )
Creditor - debt (1,994,380 )
Provisions (106,459 )

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 30 September 2024.

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

The results of subsidiaries acquired or disposed of during the year are included in the Income Statement from the effective date of acquisition or up to the effective date of disposal, as appropriate. Part disposals of subsidiaries which do not result in a loss of control are accounted for by adjusting the non-controlling interest to reflect the change in the parent's interest in the subsidiaries' net assets. Differences between the fair value of the consideration received, discounted to net present value where applicable, and the adjustment to the non-controlling interest, are recognised in Other reserves and are attributable to the equity holders of the parent.

Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The acquisition method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Where merger relief is available, this is applied and accordingly the cost of the business combination is instead measured as the nominal value of the share capital issued in consideration. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


3. ACCOUNTING POLICIES - continued

Significant judgements and estimates
Recognition of profit on long term contracts
Valuing amounts recoverable on long term contracts is considered a judgemental area in the process of applying the group's accounting policies and this potentially has a significant impact on amounts recognised in the financial statements.

This is considered a judgemental area due to the fact that some contracts are carried out over a long period of time and some go on long after the financial year has ended. As a result there are uncertainties with the final outcome of the contract and the stage of completion at the year end.

Profit recognition is based on an assessment of the overall profitability forecast on individual contracts. Losses are recognised as soon as they are foreseen. Profits are recognised by the directors when the outcome of the contract can be assessed with reasonable certainty. The profit recognised reflects that part of the total profit currently estimated to arise over the duration of the contract that fairly represents the profit attributable to work performed at the accounting date.

The group ensures that ample time and skill is allocated to ensure that the judgements and estimates made are as accurate and reliable as possible.

The group has been in this industry for many years and as such has very good knowledge and understanding of the industry and business to be able to gauge accurately the outcome of contracts in progress at the year end and the stage of completion at that date.

Goodwill
The determination of whether goodwill should be impaired requires the estimation of future cash flows and growth factors adapted by each cash generating unit. Furthermore, discount rates applied to these cash flows are determined by reference to the markets in which they operate. These factors are all affected by prevailing market and economic factors outside the group's control.

Investments
The group assesses the carrying values of investments annually or more frequently if warranted by a change in circumstances. If it is determined that the carrying values of investments cannot be recovered, the unrecoverable amounts are charged to the income statement. Recoverability is dependent upon assumptions and judgements regarding discount rates, future cash flows and profit margins. A material change in assumptions may significantly impact the potential impairment of these assets.

Amounts due from group undertakings
The group assesses the carrying value of amounts due from group undertakings annually or more frequently if warranted by a change in circumstances. If it is determined that the carrying values of these amounts cannot be recovered, the unrecoverable amounts are charged to the Income Statement. Recoverability is dependent upon assumptions and judgements regarding future cash flows and profit margins. A material change in assumptions may significantly impact the potential impairment of these assets.

Operating lease commitments
As a lessee, the group obtains the use of property, plant and equipment. The classification of such leases as
operating or finance lease requires the group to determine, based on an evaluation of the terms and conditions of the arrangement, whether it retains or acquires the significant risks and rewards of ownership of these assets and accordingly whether the lease requires an asset and liability to be recognised in the statement of financial position.

Useful economic life of non-current assets
Management estimate the useful economic life of non-current assets based on the period over which the asset is expected to be used and provide for depreciation accordingly. Where an indication of impairment is identified the estimation of recoverable value requires estimation.

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


3. ACCOUNTING POLICIES - continued

Turnover
Turnover represents amounts due on contracts completed in the year adjusted for turnover attributable to long term work in progress, excluding value added tax and trade discounts.

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with
reasonable certainty. The profit included is calculated to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value based on the percentage deemed complete by the assessment of the quantity surveyor for both the group and the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Cumulative turnover is compared with total payments on account. If turnover exceeds payments on account, an amount recoverable on contract is recognised and separately disclosed within debtors.

If payments on account are greater than turnover to date, the excess is classified within creditors.

Turnover from a contract to provide services is recognised when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the group will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably;
and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, 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.

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.
Improvements to property - Over the remaining term of the lease
Plant and machinery - 25% on reducing balance and 10% straight line
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change in the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are
recognised within costs of sales or administrative expenses, dependant upon it's nature.

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.

Financial instruments
Basic financial instruments in debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the income statement in other administrant expenses.


BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


3. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets that are held by the company under leases which transfer substantially all the risk and rewards of ownership are classified as being held under hire purchase or finance leases. Leases which do not transfer substantially all the risk and rewards of ownership are classified as operating leases.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such arrangements are included in creditors net of the finance charge allocated to future periods.

The finance element of the rental payment is charged to the statement of income and retained earnings so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Pension costs and other post-retirement benefits
Some group companies contribute to defined contribution pension schemes. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

The group operates a defined contribution plan for its employees. A defined contribution plan is a pension
plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid, the group has no further payment obligations.

The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the group in independently administered funds.

Provisions
Provisions are recognised when the group has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefit will be required to settle the obligation and a reliable estimate can be made.

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,478,569 3,919,189
Social security costs 276,391 424,134
Other pension costs 43,770 91,472
2,798,730 4,434,795

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

Production staff 46 66
Administrative staff 2 21
Management staff 7 10
55 97

2024 2023
£    £   
Director's remuneration - 7,934
Director's pension contributions to money purchase schemes - 14

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

Money purchase schemes - 1

5. OPERATING PROFIT/(LOSS)

The profit is stated after charging/(crediting):

2024 2023
£ £
Hire of plant and machinery 1,020,138 673,145
Operating leases - land and buildings 52,000 76,667
Operating leases - other - 14,517
Depreciation - owned assets 298,486 322,163
Depreciation - assets on hire purchase contracts 51,668 150,887
Interest income on deferred consideration 19,377 -
(Profit)/loss on disposal of fixed assets (17,559) 2,054,361
Goodwill amortisation 97,221 98,908
Auditors' remuneration 39,600 25,000

During the year, on 01/02/24, BMH Group Holdings Limited sold 25% of its Ordinary shareholding in its subsidiary, B M H Scaffolding Limited. The consideration included deferred consideration, which has been discounted to its present value considering the time value of money. This has resulted in interest income during the year of £19,377.

As a result of the strategic group demerger and restructuring during the previous year, a loss on disposal of a subsidiary of £2,106,214 was included in the (Profit)/loss on disposal of fixed assets. This is an exceptional cost during the previous year resulting from the accounting for the disposal of Phoenix Brickwork (UK) Limited. Phoenix Brickwork (UK) Limited remains under the ultimate control of Mr C P Watson, as a subsidiary of Phoenix UK Group Limited, which was a new separate group from 2023.

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest - 74,210
Other interest 5,562 1,974
Loan interest 715 47,371
Other finance interest - 15,340
Hire purchase 45,402 54,775
51,679 193,670

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 68,943 76,520
Under/(over) provision in pr - 71,392
Research and development - (92,937 )
Total current tax 68,943 54,975

Deferred tax 151,002 294,061
Tax on profit/(loss) 219,945 349,036

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/(loss) before tax 746,929 (1,119,198 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 22.010 %)

186,732

(246,335

)

Effects of:
Expenses not deductible for tax purposes 6,541 10,638
Income not taxable for tax purposes - (4,362 )
Capital allowances in excess of depreciation (124,617 ) -
Depreciation in excess of capital allowances - 341,079
Adjustments to tax charge in respect of previous periods - 71,392
Temporary timing differences (10 ) (40 )
Group relief - (24,460 )
Research and development - (92,937 )
Deferred tax 151,002 294,061
Share based payments 297 -

Total tax charge 219,945 349,036

The UK corporation tax rate went from 19% to 25% with effect from 1st April 2023. Therefore, the effective rate of tax for the prior year was 22%.

The expected reversal of deferred tax liabilities in the succeeding period is £102,748 (2023: £81,925). This is in relation to the deferred tax liability recognised on accelerated capital allowances and other timing differences.

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 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

2024 2023
£ £
Ordinary shares of 10p each
Interim 184,000 98
Ordinary A shares of 10p each
Interim 14,000 1
Ordinary B shares of 10p each
Interim 3,000 1
Ordinary C shares of 10p each
Interim - 22,997
201,000 23,097

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1st October 2023
and 30th September 2024 1,017,209
AMORTISATION
At 1st October 2023 303,379
Amortisation for year 97,221
At 30th September 2024 400,600
NET BOOK VALUE
At 30th September 2024 616,609
At 30th September 2023 713,830

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


11. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st October 2023 175,137 1,750,666 5,738
Additions - 837,820 -
Disposals - (22,016 ) -
At 30th September 2024 175,137 2,566,470 5,738
DEPRECIATION
At 1st October 2023 89,784 294,027 -
Charge for year 55,713 195,399 2,036
Eliminated on disposal - (2,322 ) -
At 30th September 2024 145,497 487,104 2,036
NET BOOK VALUE
At 30th September 2024 29,640 2,079,366 3,702
At 30th September 2023 85,353 1,456,639 5,738

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st October 2023 391,139 14,898 2,337,578
Additions 242,315 6,854 1,086,989
Disposals (84,829 ) - (106,845 )
At 30th September 2024 548,625 21,752 3,317,722
DEPRECIATION
At 1st October 2023 92,243 9,336 485,390
Charge for year 93,028 3,978 350,154
Eliminated on disposal (60,358 ) - (62,680 )
At 30th September 2024 124,913 13,314 772,864
NET BOOK VALUE
At 30th September 2024 423,712 8,438 2,544,858
At 30th September 2023 298,896 5,562 1,852,188

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


11. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st October 2023 223,534
Additions 97,990
At 30th September 2024 321,524
DEPRECIATION
At 1st October 2023 46,942
Charge for year 51,668
At 30th September 2024 98,610
NET BOOK VALUE
At 30th September 2024 222,914
At 30th September 2023 176,592

Company
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st October 2023 47,079 122,582 169,661
Additions 47,127 144,325 191,452
Disposals (22,016 ) (36,984 ) (59,000 )
At 30th September 2024 72,190 229,923 302,113
DEPRECIATION
At 1st October 2023 30,814 87,070 117,884
Charge for year 9,612 21,470 31,082
Eliminated on disposal (2,322 ) (27,432 ) (29,754 )
At 30th September 2024 38,104 81,108 119,212
NET BOOK VALUE
At 30th September 2024 34,086 148,815 182,901
At 30th September 2023 16,265 35,512 51,777

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


12. FIXED ASSET INVESTMENTS

Group
Listed
investments
£   
COST OR VALUATION
At 1st October 2023 81,148
Additions 28,082
Disposals (130,210 )
Revaluations 20,980
At 30th September 2024 -
NET BOOK VALUE
At 30th September 2024 -
At 30th September 2023 81,148

Company
Shares in
group Listed
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1st October 2023 1,515,882 81,148 1,597,030
Additions - 28,082 28,082
Disposals (378,971 ) (130,210 ) (509,181 )
Revaluations - 20,980 20,980
At 30th September 2024 1,136,911 - 1,136,911
NET BOOK VALUE
At 30th September 2024 1,136,911 - 1,136,911
At 30th September 2023 1,515,882 81,148 1,597,030

Cost or valuation at 30th September 2024 is represented by:

Shares in
group
undertakings
£   
Cost 1,136,911


BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


12. FIXED ASSET INVESTMENTS - continued


Subsidiary undertakings

The following was a direct trading subsidiary undertaking of BMH Group Holdings Limited at the year end:

Name Business Class of shares Holding
B M H Scaffolding Limited Masonry, drywall and steel framing. Ordinary 75%
Ordinary A1 0%
Ordinary A2 0%

B M H Scaffolding Limited became a direct subsidiary during the previous year on 7th June 2023, prior to which it was an indirect subsidiary undertaking 100% owned by Phoenix Brickwork (UK) Limited, which was a direct subsidiary undertaking at the time.

During the year, on 01/02/24, BMH Group Holdings Limited sold 25% of its Ordinary shareholding in its subsidiary, B M H Scaffolding Limited. This transaction did not result in a loss of control of B M H Scaffolding Limited. The consideration included deferred consideration, which has been discounted to its present value considering the time value of money.

The registered office address is Unit 2 Plymouth Avenue, Brookhill Industrial Estate, Pinxton, Derbyshire, England, NG16 6RA.

The subsidiary is included in the consolidated accounts.

13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1st October 2023 519,725
Additions 49,179
Revaluations 8,000
At 30th September 2024 576,904
NET BOOK VALUE
At 30th September 2024 576,904
At 30th September 2023 519,725

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2021 33,320
Valuation in 2022 27,000
Valuation in 2023 13,000
Valuation in 2024 8,000
Cost 495,584
576,904

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 495,584 446,405

Investment property was valued on an open market basis on 30th September 2024 by the director .

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


13. INVESTMENT PROPERTY - continued

Company
Total
£   
FAIR VALUE
At 1st October 2023 519,725
Additions 49,179
Revaluations 8,000
At 30th September 2024 576,904
NET BOOK VALUE
At 30th September 2024 576,904
At 30th September 2023 519,725

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2021 33,320
Valuation in 2022 27,000
Valuation in 2023 13,000
Valuation in 2024 8,000
Cost 495,584
576,904

14. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 424,787 622,096 140,117 305,402
Amounts owed by group undertakings - - 621,235 2,571
Amounts recoverable on contract 1,533,103 1,302,552 - -
Other debtors 797 - - -
Related company loan 1,076,143 791,929 1,075,947 791,733
Directors' current accounts 102,603 - 102,603 -
Tax 599 599 - -
VAT 337,950 160,349 - -
Prepayments 186,701 143,284 715 -
3,662,683 3,020,809 1,940,617 1,099,706

Amounts falling due after more than one year:
Related company loans 421,562 - 421,562 -

Aggregate amounts 4,084,245 3,020,809 2,362,179 1,099,706

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 17) 10,000 10,000 - -
Other loans (see note 17) 286,403 42,586 - 42,586
Hire purchase contracts (see note 18) 23,262 650,653 - 2,253
Payments on account 11,765 222,565 - -
Trade creditors 1,513,036 689,582 37,129 9,132
Tax 68,943 1 68,943 1
Social security and other taxes 80,673 79,712 - -
VAT - - 4,491 4,527
Other creditors 6,279 10,451 356 3
Related company loan 2,646,954 2,010,849 2,176,913 1,716,426
Directors' current accounts - 195,815 - 180,815
Accruals and deferred income 185,165 111,468 25,000 15,250
4,832,480 4,023,682 2,312,832 1,970,993

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

Group
2024 2023
£    £   
Bank loans (see note 17) 9,167 19,167
Other loans (see note 17) 214,502 -
Hire purchase contracts (see note 18) 65,907 385,463
289,576 404,630

17. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000 - -
Other loans 286,403 42,586 - 42,586
296,403 52,586 - 42,586
Amounts falling due between one and two years:
Bank loans - 1-2 years 9,167 10,000 - -
Other loans - 1-2 years 152,919 - - -
162,086 10,000 - -
Amounts falling due between two and five years:
Bank loans - 2-5 years - 9,167 - -
Other loans - 2-5 years 61,583 - - -
61,583 9,167 - -

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 23,262 650,653
Between one and five years 65,907 385,463
89,169 1,036,116

Company
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 2,253

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 52,000 52,000
Between one and five years - 52,000
52,000 104,000

19. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Bank loans 19,167 29,167
Hire purchase contracts 89,169 1,036,116
Other loans 500,905 -
609,241 1,065,283

Bank loans of £19,167 (2023: £29,167) are secured by way of a debenture, borrowed under the Coronavirus Business Interruption Loan Scheme from the UK Government, and a cross guarantee given by the group and other related companies.

The other loans and hire purchase contracts are secured over the assets to which they relate.

20. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 607,755 456,753 40,751 31,274

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


20. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1st October 2023 456,753
Charge to Income Statement during year 151,002
Balance at 30th September 2024 607,755

Company
Deferred
tax
£   
Balance at 1st October 2023 31,274
Charge to Income Statement during year 9,477
Balance at 30th September 2024 40,751

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value:
2024 2023
900 Ordinary 10p 90 90
10 Ordinary A 10p 1 1
10 Ordinary B 10p 1 1
92 92
The rights of the shares are as follows:

Each holder of Ordinary Shares, A Shares and B Shares shall be entitled to receive notice of, attend and vote at general meetings of the company. Each share is entitled to one vote in any circumstances.

Dividends may be declared on one or several classes of shares to the exclusion of any class or classes and dividends at different rates may be declared on the respective classes of shares.

Upon an Exit Event, the Exit Proceeds shall be applied on the following basis and in the following order of priority:

Firstly, in paying to the holders of the Ordinary Shares, the A Shares and the B Shares an aggregate amount up to but not exceeding £7,800,000, which shall be distributed to the holders of the Ordinary Shares, the A Shares and the B Shares pro rata to the amount paid up on the Ordinary Shares, the A Shares and the B Shares held by each such holder.

Secondly, in distributing the balance to the holders of the Ordinary Shares, A Shares and B Shares pro rata to the amount paid up on those shares held by each such holder.

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


22. RESERVES

Group
Capital
Retained Revaluation redemption
earnings reserve reserve
£    £    £   

At 1st October 2023 1,644,952 - 11
Profit for the year 410,549
Dividends (201,000 )
Changes in ownership interests in
subsidiaries

(11,539

)

-

-

Transfer (60,990 ) 60,990 -
At 30th September 2024 1,781,972 60,990 11

Group
Share-based Other
payments reserves Totals
£    £    £   

At 1st October 2023 - - 1,644,963
Profit for the year 410,549
Dividends (201,000 )
Changes in ownership interests in
subsidiaries

-

-

(11,539

)

Equity settled share-based
payments

1,187

-

1,187

Consideration received in excess of
non-controlling interest increase

-

407,240

407,240

At 30th September 2024 1,187 407,240 2,251,400

Company
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1st October 2023 1,509,680 - 11 1,509,691
Profit for the year 844,959 844,959
Dividends (201,000 ) (201,000 )
Transfer (60,990 ) 60,990 - -
At 30th September 2024 2,092,649 60,990 11 2,153,650

The director decided to create a Revaluation reserve to separately present the effect on reserves of the revaluations on the investment property, to display more information.

During the year, on 1st February, the parent company sold 25% of its Ordinary Shares in B M H Scaffolding Limited. The transaction did not result in a loss of control of B M H Scaffolding Limited. The carrying amount of the non-controlling interest was adjusted to reflect the change in the parent’s interest in B M H Scaffolding Limited’s net assets. The difference of £407,240 between the amount by which the non-controlling interest was adjusted and the fair value of the consideration received, has been recognised in Other reserves and is attributable to the equity holders of the parent.

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


23. PENSION COMMITMENTS

The group contributes to defined contribution pension schemes for their directors and employees. There were unpaid contributions due at the end of the period in relation to the schemes amounting to £5,353 (2023: £5,463). The amount recognised as an expense in the year was £43,770 (2023: £91,472).

24. OTHER FINANCIAL COMMITMENTS

The group has given cross guarantees to banks and other financial institutions for other related companies' debts. The debt guaranteed at 30 September 2024 amounted to £342,575 (2023: £529,789).

25. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th September 2024 and 30th September 2023:

2024 2023
£    £   
Mr C P Watson
Balance outstanding at start of year - 424
Amounts advanced 102,603 229,951
Amounts repaid - (230,375 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 102,603 -

The loan to the director is unsecured, with interest charged at HMRC approved rates, and repayable within 9 months of the year end.

26. RELATED PARTY DISCLOSURES

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Key management personnel of the entity or its parent (in the aggregate)
2024 2023
£    £   
Rental income 15,300 15,300
Interest receivable 78 1,446
Dividends paid 184,000 98
Provision of services from related party 94,864 411,697
Dividends paid to minority interest 10,244 -
Amount due from related party 102,603 -
Amount due to related party - 198,723

The amounts due from key management personnel are unsecured, with interest charged at HMRC approved rates, and repayable within 9 months of the year end.

The amounts due to key management personnel are unsecured, interest free and repayable on demand.

Entities that provide key management personnel services to the entity
2024 2023
£    £   
Interest receivable 19,377 -
Provision of services from related party 60,980 38,400
Dividends paid to minority interest 120,643 -
Amount due from related party 480,247 -
Amount due to related party 12,064 -

BMH GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10287962)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


26. RELATED PARTY DISCLOSURES - continued

The amounts due from entities providing key management personnel services are unsecured, interest free until 01/02/2030 and applied at 2% above the Bank of England's Bank Rate from 01/02/2030, and are repayable in accordance with the share purchase agreement during the year between BMH Group Holdings Limited and the non-controlling interest company which has significant influence over the subsidiary, B M H Scaffolding Limited. The share purchase agreement states that 90% of any dividends due and payable to the non-controlling interest company must be paid to BMH Group Holdings Limited in satisfaction of all or part of the deferred consideration. The share purchase agreement states that the parties must use their respective endeavours to ensure that any distributable profits of B M H Scaffolding Limited (represented by cash in excess of the company's provision for working capital, capital expenditure and other exceptional requirements) shall be distributed from time to time with the intention of the deferred consideration being settled as soon as practicable.

The amounts due to entities providing key management personnel services are unsecured, interest free and repayable on demand.

Other related parties

2024 2023
£ £
Sales 912,235 88,435
Rental income 49,494 18,015
Interest receivable 41,528 32,724
Dividends paid 17,000 22,999
Management charges payable 253,655 71,122
Rental costs - 24,667
Motor and travel expenses 9,304 2,160
Provision of services from related party 193,427 483,577
Fixed assets purchased from related party 185,721 -
Amounts due to related party 2,998,953 2,038,404
Amounts due from related party 1,183,360 1,108,457

Included within the amounts due from other related parties is £999,081 (2023: £772,552) in relation to a loan to the related party which is unsecured, with interest charged at 0.5% below the Bank of England base rate and is repayable on demand.

The other amounts due from and to other related parties are unsecured, interest free and repayable on demand.

27. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C P Watson.

28. SHARE-BASED PAYMENT TRANSACTIONS

During the previous year, a subsidiary allotted Ordinary A1 shares at par value. The expected future sale price (Good Leaver Price) of the shares is linked to the shareholder being a Good Leaver and therefore the continued provision of services, as well as being subject to a Hurdle Value. The equity settled scheme's grant date is therefore based on the expected exit event date, estimated as being the retirement of the shareholders.

The value of the equity instruments granted at the balance sheet date is based on the Good Leaver Price at the balance sheet date as defined by the company's Memorandum and Articles of Association, divided by the vesting period, being the expected number of years until the grant date.