The directors present the strategic report for the year ended 31 December 2024.
During 2024, BB Development Group successfully achieved our stated growth and operating targets while maintaining robust financial controls, delivering a strong balance sheet and cash flows. Demand for advisory and project delivery services in our core markets continued their upwards trajectory, underpinned by infrastructure activity and development needs across the UK.
We continued to strengthen the Group’s platform for continued growth through targeted investment in leadership, brand equity and systems. This provides the foundation to deliver on our long-term scaling strategy, while enhancing client value and protecting operating margin.
Despite short-term integration costs and ongoing restructuring activities following acquisitions, the Group delivered a strong financial performance, with turnover increasing by 28%, showing robust demand and confidence in our business model while delivering strong profits despite significant investment in scaling our operations. Our cash position strengthened, with cash at bank rising to £4.6m providing a healthy liquidity buffer and flexibility for future investment.
The Board is confident in the resilience of our business model and our ability to generate sustainable growth and long-term value for all stakeholders.
Business Model
BB Development Group is a built-environment consultancy providing integrated services across the development lifecycle. Our offering spans six core divisions:
Land, Development & Communities
Development Management
Cost & Commercial
Civil Engineering
Mechanical & Electrical Engineering
Structural Engineering
This breadth of expertise positions us uniquely as a one-stop partner, able to deliver smarter, more efficient and more impactful outcomes for clients and communities.
Our value creation model is based on:
Delivering excellence in client service
Attracting and retaining top talent
Sustaining strong financial discipline
Reinvesting in systems, technology and brand
Embedding ESG principles into decision-making
Strategy
Our strategy targets sustainable, margin-disciplined growth to 2030, and beyond, built on four strategic pillars:
Scaling teams: Increasing headcount while maintaining productivity
Earning quality: Targeting sector-leading earnings per person through selection of quality partners, project management discipline and scope control.
Diversification: Expanding across clients, sectors and geographies to limit concentration risk.
Investment in capability: Strengthening leadership, systems and brand to support scale.
This strategy is designed to deliver both growth and resilience, balancing shareholder returns with investment in long-term sustainability.
Market Overview
The UK built-environment sector remains active, supported by structural demand for housing, infrastructure renewal and decarbonisation projects.
However, market conditions are not without challenge: client decision-making remains cautious, supply chain inflation has impacted margins across the sector, and talent competition remains intense.
Against this backdrop, BB Development Group’s integrated model and diversified service lines provide resilience and an ability to capture opportunities across multiple sectors.
Financial review
Group Performance :
Turnover: £11.9m
Profit after tax: £683k
Cash at bank: £4.6m
The Group remains well-capitalised with robust cash resources and prudent leverage.
Subsidiary Performance :
Brookbanks Consulting Limited: Our primary operating business performed exceptionally, increasing turnover by 16.9%. Margins moderated due to planned short terms investments.
Reuby & Stagg Limited: Turnover reduced by circa 15% year-on-year due to combined impacts of Group integration, restructuring and a slowing within the building services (Structures) market, the latter notably being due to investors delaying project starts due to market conditions. Improved performance is expected in 2025.
The Group monitors a balanced scorecard of financial and operational KPIs aligned to its strategic priorities. Selected 2024 outcomes are:
KPI | Definition | 2024 Outcome | 2023 Outcome | Commentary |
Turnover Growth | Year-on-year change in revenue (%), target > 20% | 28% | 41% | Strong growth achieved across all BBDG businesses, reflecting robust demand and diversification. Continued focus on sustainable growth in 2025.
|
New Business Generation | Forward pipeline measured in months of secured revenue | 12 months+ | 10 months+ | Pipeline remains healthy across all six project groups, underpinning revenue visibility for the coming year. Target is to maintain >12 months forward cover. |
Quality | Internal QA assessment score (scale 1-5) | 4.45 | 4.30 | Consistency of process remains high, aligned with our internal quality matrix. Focus in 2025 is to reach 4.6 through enhanced training and QA tools. |
Client Service | % of clients who would recommend our services | 97.85% | 95.30%
| Client satisfaction continues to exceed industry benchmarks, reflecting strong project delivery. Investment in client experience will support further improvement. |
Value Elevation | Client project savings delivered (£m) | £70m+ | £55m+ | Through our cross-group approach, we achieved significant savings for clients, reinforcing our value proposition. Further efficiencies targeted through innovation programmes. |
Principal risks and uncertainties
The Board is responsible for overseeing risk management and internal control systems. Principal risks include:
Market & Pipeline Conversion: Mitigated through diversification, bid discipline and business development investment.
Margin Erosion: Addressed via selection of quality partners, project management discipline and scope control.
Client Concentration & Credit Risk: Ongoing mitigation through credit checks, milestone billing and strengthened collections capability.
People & Scaling: Managed via phased recruitment, leadership development and the recent appointment of a Head of Talent.
Working Capital & Liquidity: Addressed through enhanced cash forecasting and treasury oversight.
Regulatory & Compliance: Mitigated through documented policies, external advisory and staff training.
Cybersecurity & Data : Mitigated by new IT leadership and improved security controls.
ESG and Stakeholder Considerations
The Group recognises its wider responsibilities to stakeholders, communities and the environment. Our priorities include:
Environmental: reducing operational carbon footprint and supporting sustainable infrastructure.
Social: creating high-quality jobs, investing in skills and delivering community benefits.
Governance: maintaining strong ethical standards, transparent reporting and an accountable culture.
We engage actively with employees, clients, shareholders, regulators and communities to ensure our strategy is aligned with their expectations.
Going Concern
The Directors have considered forecasts for at least twelve months from the date of approval, including downside scenarios such as reduced turnover, margin compression and working-capital slippage. Given the Group’s cash resources, available facilities and mitigating actions, the Board is satisfied that the going concern basis remains appropriate.
Future Developments
The Group enters 2025 with high confidence. A strong and building forward pipeline, improved integration of subsidiaries and a clear focus on earnings quality position us well to deliver >20% annual turnover growth.
Strategic priorities for 2025 include:
Strengthening cash conversion and reducing debtor days.
Expanding geographical footprint and sector coverage.
Investing further in leadership and systems to support scalability.
The Board remains confident that BB Development Group is well positioned to deliver sustainable growth, enhanced margins and long-term value for all stakeholders.
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 December 2024.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
The group manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the group has sufficient liquid resources to meet the operating needs of the business.
The group is exposed to interest rate risk on its bank loans and other borrowings.
The investment of cash surpluses are made through banks which must fulfil credit rating criteria approved by the Board.
All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.
The group continues to invest in the development of its technology to ensure it can operate as efficiently as possible.
Details of post balance sheet events are in note 26 to the financial statements.
JS. Audit Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.
We have audited the financial statements of BB Development Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Basis for opinion
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
Irregularities and fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities including fraud is detailed below.
Based on our understanding of the company and sector, we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006, UK tax, employment, pension and health and safety legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgements and the risk of fraud in revenue recognition.
Our procedures to respond to risks identified included the following:
reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
enquiring of management about actual and potential litigation and claims, their policies and procedures to prevent and detect fraud as well as whether they have knowledge of any actual, suspected or alleged fraud;
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of tax provisions;
in addressing the risk of fraud through management override of controls: testing the appropriateness of journal entries; assessing whether the accounting estimates, judgements and decisions made by management are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Other matters which we are required to address
The comparative figures have not been audited.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £5,943,773 (2023 - £1,914,770 profit).
BB Development Group Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 6150 Knights Court, Solihull Parkway, Birmingham Business Park, Birmingham, United Kingdom, B37 7WY.
The group consists of BB Development Group Ltd and all of its subsidiaries.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The consolidated group financial statements consist of the financial statements of the parent company BB Development Group Ltd together with all entities controlled by the parent company and its subsidiaries.
All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for consultancy services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Sales relating to the provision of services are recognised as the service is performed, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
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 recognised in the profit and loss account.
In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. Amounts that are included within cost in respect of future payments, and are contingent on certain conditions being met, are deducted from cost should the criteria not be met.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting period end date, the group 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.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
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.
The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group 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 group.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the group financial statements, where equity-settled share options are awarded to employees of the group by the parent in respect of the parent company's shares, the fair value of the options is determined at the date of grant and charged to the profit and loss over the vesting period.
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 leased asset are consumed.
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
The directors have determined whether there are indicators of impairment in the group's investments, tangible assets and intangible assets including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and, where it is a component of a larger cash generating unit, the viability and expected future performance of that unit.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
The group establishes a provision for debtors that are estimated to not be recoverable. When assessing recoverability, the directors consider factors such as the aging of receivables, past experience of recoverability, and the credit profile of individual or groups of customers.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
The amortisation charge has been included within administrative expenses.
Details of the company's subsidiaries at 31 December 2024 are as follows:
Registered office addresses (all UK unless otherwise indicated):
25% of the share capital of Brookbanks Consulting Limited is owned outside of the group. This relates to 15 ordinary C shares which carry no voting rights, no fixed share of income and no rights to a capital distribution other than the £1 par value of each share. Based on these share rights, the consolidated accounts have been prepared on the basis that 100% of the voting rights, income and net assets are attributable to the group.
There is an unlimited cross guarantee between BB Development Group Ltd and its subsidiaries.
Bank loans of £2,033,761 (2023: £1,838,689) are secured by means of fixed and floating charges over the assets of the group. 2 of the directors have each provided a personal guarantee in respect of the loans, limited to £295,000 each.
Other borrowings relate to loan notes of £2,439,075 (2023: £817,960) which are secured by way of fixed and floating charges over the assets of the group..
Bank loans of £881,345 (2023: £3,048,131) are secured by means of fixed and floating charges over the assets of the group. 2 of the directors have each provided a personal guarantee in respect of the loans, limited to £295,000 each.
Other borrowings relate to loan notes of £1,903,375 (2023: £3,223,375) which are secured by way of fixed and floating charges over the assets of the group.
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
The overall deferred tax liability set out above is expected to reverse within four years and relates to accelerated capital allowances.
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund. Unpaid contributions at the year-end were £4,096.
During the year, the parent company granted equity-settled share options to two employees of a subsidiary company, As it is a group-based scheme, any share based expense is recognised and measured on the basis of a reasonable allocation of the expense recognised for the group. The allocation is based on the number of employees in each entity who are benefitting from the share options. The total expense recognised in the year ended 31 December 2024 was £nil.
The shares options granted were in respect of 5 ordinary D shares and 5 ordinary E shares. These are new classes of share with no income or voting rights, but with entitlement to a share of capital proceeds in excess of a pre-determined hurdle rate on the occurrence of an exit event. The exercise price is £1 per share and options are exercisable when either the company value exceeds the hurdle rate or an exit event arises.
No options had been exercised as at 31 December 2024. Subsequent to 31 December 2024, the options relating to the E shares have lapsed due to the option holder leaving the business.
The rights of each class of share are set out in the company's articles of association.
The merger reserve represents the fair value, in excess of the nominal value, of shares issued as consideration for the acquisition of subsidiaries.
The profit and loss reserves represents cumulative profits and losses, net of distributions, to shareholders.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
On 2 January 2025, the company acquired 100% of the share capital of SVM Brookbanks Limited.
Dividends of £321,512 (2023: £256,134) were paid to directors in the year.
Included within other creditors is an amount of £1,264,000 (2023: £1,264,000) due to a director. This is secured against the assets of the group by way of fixed and floating charges. An amount of £758,000 (2023: £250,000) is classed as being due within one year.
During the year, the group has recharged costs totalling £81,530 (2023: £Nil) to a company under the control of two of the directors. Recharges from this company totalled £3,004 (2023: £Nil). As at the year-end, the following balances were included in respect of this company: trade debtors of £27,290 (2023: £Nil), other debtors of £20,000 (2013: £Nil), prepayments and accrued income of £15,454 (2023: £Nil), trade creditors of £200 (2023: £Nil) and accruals and deferred income of £5,269 (£Nil).
.
There are no other transactions that are required to be disclosed under FRS102.