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Registered number: 11979519
Big Red Construction Group Limited
Financial Statements
For the Period 1 January 2023 to 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 11979519
30 June 2024 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 57,500 72,500
Tangible Assets 5 111,336 187,991
Investments 6 300,301 251
469,137 260,742
CURRENT ASSETS
Stocks 7 3,512 17,053
Debtors 8 2,295,436 746,256
Cash at bank and in hand 3,448 21,428
2,302,396 784,737
Creditors: Amounts Falling Due Within One Year 9 (10,881,150 ) (1,512,055 )
NET CURRENT ASSETS (LIABILITIES) (8,578,754 ) (727,318 )
TOTAL ASSETS LESS CURRENT LIABILITIES (8,109,617 ) (466,576 )
Creditors: Amounts Falling Due After More Than One Year 10 (3,991,000 ) (10,513 )
NET LIABILITIES (12,100,617 ) (477,089 )
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account (12,100,717 ) (477,189 )
SHAREHOLDERS' FUNDS (12,100,617) (477,089)
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For the period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Lomas
Director
24 July 2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Big Red Construction Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11979519 . The registered office is Duplex 1 Ducie House, Ducie Street, Manchester, M1 2JW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast doubt about the company's ability to continue as a going concern. There has however, been a period of improved trade since the year end and the company retains the support of the Director, as well as continued investment. The going concern basis therefore remains appropriate.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% straight line
Plant & Machinery 20% monthly reducing balance
Motor Vehicles 20% monthly reducing balance
Computer Equipment 20% monthly reducing balance
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2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 42 (2022: 25)
42 25
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 100,000
As at 30 June 2024 100,000
Amortisation
As at 1 January 2023 27,500
Provided during the period 15,000
As at 30 June 2024 42,500
Net Book Value
As at 30 June 2024 57,500
As at 1 January 2023 72,500
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 148,822 10,592 30,889 68,469 258,772
Additions - - - 8,398 8,398
Disposals - (4,858 ) (15,939 ) (2,809 ) (23,606 )
As at 30 June 2024 148,822 5,734 14,950 74,058 243,564
Depreciation
As at 1 January 2023 41,254 2,781 10,082 16,664 70,781
Provided during the period 44,647 1,162 5,201 17,099 68,109
Disposals - (923 ) (5,423 ) (316 ) (6,662 )
As at 30 June 2024 85,901 3,020 9,860 33,447 132,228
Net Book Value
As at 30 June 2024 62,921 2,714 5,090 40,611 111,336
As at 1 January 2023 107,568 7,811 20,807 51,805 187,991
6. Investments
Subsidiaries
£
Cost
As at 1 January 2023 251
Additions 300,050
As at 30 June 2024 300,301
Provision
As at 1 January 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 300,301
As at 1 January 2023 251
7. Stocks
30 June 2024 31 December 2022
£ £
Stock 3,512 17,053
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Page 6
8. Debtors
30 June 2024 31 December 2022
£ £
Due within one year
Trade debtors 240,540 422,785
Other debtors 2,054,896 323,471
2,295,436 746,256
9. Creditors: Amounts Falling Due Within One Year
30 June 2024 31 December 2022
£ £
Net obligations under finance lease and hire purchase contracts 3,994 5,996
Trade creditors 103,201 51,519
Other creditors 10,530,680 1,042,980
Taxation and social security 243,275 411,560
10,881,150 1,512,055
10. Creditors: Amounts Falling Due After More Than One Year
30 June 2024 31 December 2022
£ £
Net obligations under finance lease and hire purchase contracts - 10,513
Other loans 3,991,000 -
3,991,000 10,513
11. Obligations Under Finance Leases and Hire Purchase
30 June 2024 31 December 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,994 5,996
Later than one year and not later than five years - 10,513
3,994 16,509
3,994 16,509
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12. Share Capital
30 June 2024 31 December 2022
£ £
Allotted, Called up and fully paid 100 100
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Michael Lomas 96,228 44,419 - - 140,647
The above loan is unsecured, repayable on demand and interest is charged at market rate.
14. Ultimate Controlling Party
The company's ultimate controlling party is BRIG Holdings Limited .
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