Company Registration No. 02573279 (England and Wales)
B & S GROUP LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
B & S GROUP LIMITED
COMPANY INFORMATION
Director
Mr Jason Wittenbrink
Company number
02573279
Registered office
Sovereign Way
Chester West Employment Park
Chester
Cheshire
United Kingdom
CH1 4QJ
Accountants
Azets
First Floor
Unit 55 Ffordd William Morgan
St Asaph Business Park
St Asaph
United Kingdom
LL17 0JG
B & S GROUP LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Statement of income and retained earnings
3
Balance sheet
5
Statement of cash flows
4
Notes to the financial statements
6 - 13
B & S GROUP LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The director presents his annual report and financial statements for the year ended 31 March 2025.

Director

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

Mr Jason Wittenbrink
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr Jason Wittenbrink
Director
23 May 2025
B & S GROUP LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF B & S GROUP LIMITED FOR THE YEAR ENDED 31 MARCH 2025
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B & S Group Limited for the year ended 31 March 2025 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and the related notes from the company’s accounting records and from information and explanations you have given us.

This report is made solely to the board of directors of B & S Group Limited, as a body, in accordance with the terms of our engagement letter dated 8 April 2025. Our work has been undertaken solely to prepare for your approval the financial statements of B & S Group Limited and state those matters that we have agreed to state to the board of directors of B & S Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B & S Group Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that B & S Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of B & S Group Limited. You consider that B & S Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of B & S Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Azets
23 May 2025
First Floor
Unit 55 Ffordd William Morgan
St Asaph Business Park
St Asaph
United Kingdom
LL17 0JG
B & S GROUP LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
2025
2024
£
£
Turnover
12,068,822
6,471,255
Cost of sales
(8,562,654)
(4,655,124)
Gross profit
3,506,168
1,816,131
Administrative expenses
(1,718,971)
(1,154,722)
Other operating income
99,193
52,695
Operating profit
1,886,390
714,104
Interest receivable and similar income
5,171
23,037
Interest payable and similar expenses
(16,867)
(11,868)
Profit before taxation
1,874,694
725,273
Tax on profit
(341,467)
(209,496)
Profit for the financial year
1,533,227
515,777
Retained earnings brought forward
1,528,224
1,114,447
Dividends
(102,000)
(102,000)
Retained earnings carried forward
2,959,451
1,528,224

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

B & S GROUP LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
12
1,266,020
710,734
Interest paid
(16,867)
(11,868)
Income taxes paid
(171,958)
(29,172)
Net cash inflow from operating activities
1,077,195
669,694
Investing activities
Purchase of tangible fixed assets
(598,937)
(53,430)
Proceeds from disposal of tangible fixed assets
-
0
13,750
Interest received
5,171
3,037
Dividends received
-
0
20,000
Net cash used in investing activities
(593,766)
(16,643)
Financing activities
Repayment of borrowings
(12,347)
(31,651)
Repayment of bank loans
(7,149)
(31,094)
Payment of finance leases obligations
-
0
(23,116)
Dividends paid
(102,000)
(102,000)
Net cash used in financing activities
(121,496)
(187,861)
Net increase in cash and cash equivalents
361,933
465,190
Cash and cash equivalents at beginning of year
537,007
71,817
Cash and cash equivalents at end of year
898,940
537,007
B & S GROUP LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 5 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
12,500
Tangible assets
4
697,914
249,639
Investments
5
4,102
4,102
702,016
266,241
Current assets
Stocks
1,257,119
720,218
Debts factored without recourse
1,912,583
1,005,225
Non-returnable deposits
(3,626)
48,161
Debtors
6
831,362
707,080
Cash at bank and in hand
898,940
537,007
4,896,378
3,017,691
Creditors: amounts falling due within one year
8
(2,390,616)
(1,614,080)
Net current assets
2,505,762
1,403,611
Total assets less current liabilities
3,207,778
1,669,852
Provisions for liabilities
(148,327)
(41,628)
Net assets
3,059,451
1,628,224
Capital and reserves
Called up share capital
10
100,000
100,000
Profit and loss reserves
2,959,451
1,528,224
Total equity
3,059,451
1,628,224

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The financial statements were approved and signed by the director and authorised for issue on 23 May 2025
Mr Jason Wittenbrink
Director
Company Registration No. 02573279
B & S GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
1
Accounting policies
Company information

B & S Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Sovereign Way, Chester West Employment Park, Chester, Cheshire, United Kingdom, CH1 4QJ.

1.1
Accounting convention

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

1.2
Turnover

Turnover represents net invoiced sales of services and goods, excluding VAT, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

1.3
Intangible fixed assets - goodwill

The goodwill was generated on the acquisition of the business and is being written off over its estimated useful life of 5 years.

1.4
Tangible fixed assets

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:

Leasehold improvements
10% on cost
Plant and equipment
20% on cost
Fixtures and fittings
20% on cost
Computers
25% on cost
Motor vehicles
25% on cost

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.

B & S GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
1.5
Impairment of fixed assets

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.

1.6
Stocks

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.

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.

1.7
Cash and cash equivalents

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.

1.8
Financial instruments

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

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. As all financial assets are classified within one year, they are not amortised but carried at face value.

B & S GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 8 -
Other financial assets

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.

Impairment of financial assets

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.

Derecognition of financial assets

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.

Classification of financial liabilities

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

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are carried at face value.

 

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 continue to be measured at face value.

Other financial liabilities

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.

B & S GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 9 -
Derecognition of financial liabilities

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

1.9
Equity instruments

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.

1.10
Taxation

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

Current 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

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.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

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.

1.12
Retirement benefits

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

1.13
Leases

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.

B & S GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 10 -
1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

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

2025
2024
Number
Number
Total
74
38
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
269,900
Amortisation and impairment
At 1 April 2024
257,400
Amortisation charged for the year
12,500
At 31 March 2025
269,900
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
12,500
B & S GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2024
75,405
862,787
9,786
229,534
33,950
1,211,462
Additions
64,180
297,000
-
0
5,027
232,730
598,937
At 31 March 2025
139,585
1,159,787
9,786
234,561
266,680
1,810,399
Depreciation and impairment
At 1 April 2024
45,189
685,900
9,253
204,417
17,064
961,823
Depreciation charged in the year
16,468
96,259
400
8,869
28,666
150,662
At 31 March 2025
61,657
782,159
9,653
213,286
45,730
1,112,485
Carrying amount
At 31 March 2025
77,928
377,628
133
21,275
220,950
697,914
At 31 March 2024
30,216
176,887
533
25,117
16,886
249,639
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
4,102
4,102
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
654,221
672,497
Other debtors
177,141
34,583
831,362
707,080
7
Linked presentation

The director hereby states that the entity is not obliged to support any losses, nor does it intend to do so.

 

B & S Group Limited factor all sales invoices for a service charge of 0.90%. A discounting charge is levied on those invoices settled outside the 60 day credit terms. In the event that a factored invoice is not settled, B & S Group Limited is not obliged under the terms of the agreement, nor does it support any losses. Upon termination of the agreement, the providers of the finance may only seek repayment of the finance to the extent that sufficient funds are generated by the specific item and will not seek recourse in any other form.

B & S GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
-
0
7,149
Trade creditors
2,017,503
900,252
Taxation and social security
303,795
258,773
Other creditors
69,318
447,906
2,390,616
1,614,080
9
Secured debts

B&S Group Limited and other group companies, B&S Electronic Services Limited and Hinton Deevex Limited have provided an unlimited multilateral guarantee to HSBC Bank over the groups banking facilities.

10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100,000
100,000
100,000
100,000
11
Ultimate controlling party

The ultimate controlling party is UK Energy Services Holdings Limited.

12
Cash generated from operations
2025
2024
£
£
Profit for the year after tax
1,533,227
515,777
Adjustments for:
Taxation charged
341,467
209,496
Finance costs
16,867
11,868
Investment income
(5,171)
(23,037)
Gain on disposal of tangible fixed assets
-
(430)
Amortisation and impairment of intangible assets
12,500
50,000
Depreciation and impairment of tangible fixed assets
150,662
68,193
Movements in working capital:
Increase in stocks
(536,901)
(30,331)
Increase in debtors
(979,853)
(208,206)
Increase/(decrease) in creditors
1,118,072
(207,080)
(Decrease)/increase in deferred income
(384,850)
324,484
Cash generated from operations
1,266,020
710,734
B & S GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
13
Analysis of changes in net funds
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
537,007
361,933
898,940
Borrowings excluding overdrafts
(51,935)
19,496
(32,439)
485,072
381,429
866,501
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