Business Services Group Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05637350

Business Services Group Limited

Filleted Unaudited Financial Statements

31 December 2024

Business Services Group Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Business Services Group Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	252,677	352,935
Investments	6	25,446	25,446
		---------	---------
		278,123	378,381

Current assets

Debtors	7	2,916,870	2,529,730
Cash at bank and in hand		52,720	33,332
		------------	------------
		2,969,590	2,563,062

Creditors: amounts falling due within one year	8	2,606,026		2,186,059
		------------		------------
Net current assets			363,564	377,003
			---------	---------
Total assets less current liabilities			641,687	755,384

Creditors: amounts falling due after more than one year	9		102,374	193,510

Provisions

Taxation including deferred tax	48,452	72,471
	---------	---------
Net assets	490,861	489,403
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	490,859	489,401
	---------	---------
Shareholders funds	490,861	489,403
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Business Services Group Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 1 October 2025 , and are signed on behalf of the board by:

Mr J A J Dye

Director

Company registration number: 05637350

Business Services Group Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Maltings, Forest Road, Wokingham, United Kingdom, RG40 5QY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually when the work is complete, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings	-	Over the term of the lease
Plant and machinery	-	25% straight line
Fixtures and fittings	-	25% straight line
Motor vehicles	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 26 (2023: 26 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	98,478	78,705	26,328	467,565	671,076
Additions	–	–	2,721	–	2,721
Disposals	–	–	( 314)	( 8,850)	( 9,164)
	--------	--------	--------	---------	---------
At 31 December 2024	98,478	78,705	28,735	458,715	664,633
	--------	--------	--------	---------	---------
Depreciation
At 1 January 2024	26,232	43,998	14,716	233,195	318,141
Charge for the year	20,414	14,119	4,498	63,380	102,411
Disposals	–	–	( 168)	( 8,428)	( 8,596)
	--------	--------	--------	---------	---------
At 31 December 2024	46,646	58,117	19,046	288,147	411,956
	--------	--------	--------	---------	---------
Carrying amount
At 31 December 2024	51,832	20,588	9,689	170,568	252,677
	--------	--------	--------	---------	---------
At 31 December 2023	72,246	34,707	11,612	234,370	352,935
	--------	--------	--------	---------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery	Motor vehicles	Total
	£	£	£
At 31 December 2024	16,517	128,333	144,850
	--------	---------	---------
At 31 December 2023	33,035	161,363	194,398
	--------	---------	---------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	27,618
	--------
Impairment
At 1 January 2024 and 31 December 2024	2,172
	--------

Carrying amount
At 31 December 2024	25,446
	--------
At 31 December 2023	25,446
	--------

At the balance sheet date, the company's investments consisted of the ownership of 100% of the ordinary share capital of Business Services Group (BSG) GmbH.

7. Debtors

	2024	2023
	£	£
Trade debtors	1,429,285	1,459,393
Other debtors	1,487,585	1,070,337
	------------	------------
	2,916,870	2,529,730
	------------	------------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	30,000	30,000
Payments received on account	553,808	479,871
Trade creditors	1,151,256	891,267
Accruals and deferred income	228,082	99,228
Corporation tax	49,745	50,896
Social security and other taxes	297,947	263,678
Obligations under finance leases and hire purchase contracts	61,208	75,888
Other creditors	233,980	295,231
	------------	------------
	2,606,026	2,186,059
	------------	------------

Payments received on account are secured by a fixed charge on all the assets of the company and by personal guarantees of £30,000 in total provided by the directors.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	45,000	75,000
Obligations under finance leases and hire purchase contracts	57,374	118,510
	---------	---------
	102,374	193,510
	---------	---------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	190,000	190,000
Later than 1 year and not later than 5 years	332,500	522,500
	---------	---------
	522,500	712,500
	---------	---------

11. Directors' advances, credits and guarantees

At the start of the year a director owed the company £9,943. Advances of £7,000 were made during the year and no repayments were made. At the balance sheet date the director owed the company £16,943 (2023: £9,943). No Interest was charged the balance outstanding (2023: £nil).

12. Related party transactions

During the year the following transactions with related parties took place:-

	2024	2023
	£	£
Debtor amounts due from connected company	830,771	468,414
Creditor amounts owed to connected company	512,160	406,680
Amounts due to directors	7,406	9,407

Amounts due from and to associated companies and other related parties are not subject to interest and are payable in under one year.