|
Registered number:
FOR THE YEAR ENDED 30 APRIL 2025
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
COMPANY INFORMATION
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
CONTENTS
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
Principal activity
The principal activity of the Company in the year under review continued to be that of demolition, dismantling, and asbestos removal.
The Company has continued to build on the success of 2024 into 2025 with improved turnover and consistent levels of operating profit. The financial accounts demonstrate the Company’s ability to focus on maintaining margins whilst delivering outstanding service levels to its customers. The results for the year are a testament to the decisive action taken the by the directors and key management to adapt to challenges faced and control overheads whilst safeguarding staff members.
The financial key performance indicators below underline a successful trading period and demonstrate that the Company has risen to the task in hand by maintaining strong working relationships with its key customers and suppliers.
From a financial perspective, the directors have always maintained appropriate banking facilities to ensure that the Company can manage fluctuations in working capital requirements and continue to invest in plant and machinery to successfully tender, win, and complete large high-profile contracts.
The directors recognise that it is important for the Company’s customers to be confident of the financial strength and integrity of the Company. Risk from customer debt is low, in-line with the Company’s client base and quality standards. Forward contracts are used to de-risk from price fluctuations where appropriate. The Company also has no significant concentration of supply risk, with exposure adequately spread over several suppliers. As part of the Company’s Quality Management System, all subcontractors and suppliers are required to submit specific information to enable routine review of the Company’s approved subcontractors and suppliers list. Operating risks are managed via a combination of strong internal controls and external accreditations as detailed above. Financial assets and business risks are also suitably covered by relevant insurance policies. This provides assurance to both the Company and its customers. Risk management The company adopts a measured approach in identifying and managing its financial and business risks. The directors recognise that the specialist sector and competitive environment in which the Company operates require that management maintains an active and direct involvement in the assessment and running of the key operational priorities:
∙health, safety & environment (via our “Integrated Management Systems”), the Company seeks to achieve its primary objectives of zero accidents, incidents, environmental or otherwise;
∙staff training (via continuous general and specific training programmes and efforts to obtain full CSCS certification), to work safely, employing and demonstrating a professional, efficient, competent and fully trained workforce;
∙compliance with industry standards and regulations (as demonstrated by various accreditations and maintained via internal quality control system and regular external audits);
Page 1
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
∙to continue as one of the leading demolition/dismantling contractors and steadily increase upon market share;
∙to ensure that projects are completed within the stated contract duration and stated contract budget;
∙to maintain repeat business as 'preferred' contract to major client base.
The directors are pleased to report an underlying profit for the year of £2.912m (2024 - £2.680m) which demonstrates the Company’s continuing ability to secure and fulfil large demolition contracts in the UK and underlining its position as a market leader.
The directors will continue to manage costs and resources effectively and prudently on its multi-year contracts, the results of which are expected to be reflected in improved margins in future years. The Company has continued to strengthen its balance sheet from £14.551m to £15.163m during the year and ensure it has adequate cash flow facilities to continue investing in new plant allowing it to target further growth in revenues in financial year 2025.
The directors of the Company have a legal responsibility under section 172 of the Companies Act 2006 to act in the way we consider, in good faith, would be most likely to promote the Company’s success for the benefit of its members as a whole, and to have regard to the long-term effect of our decisions on the Company and its stakeholders and in doing so must have regard to the following:
∙the likely consequences of any decision in the long term;
∙the interests of the Company’s employees;
∙the need to foster the Company’s business relationships with suppliers, customers and others;
∙the impact of the Company’s operations on the community and the environment;
∙the desirability of the Company maintaining a reputation for high standards of business conduct; and
∙the need to act fairly between members of the Company
Our key stakeholders, and the ways in which we engage with them, are as follows:
Employment policy The Company does not discriminate against anyone on any grounds. The sole criterion for selection or promotion is the suitability of the person for the job. It is the policy of the Company to provide employment to people irrespective of sex, age, religion or disability whenever the demands of the Company and the abilities of the individual will allow. Appropriate levels of training and development are available for all levels and categories of staff. Customers and suppliers The Company is aware that our customers and suppliers are an important part of our success. We strive to build long standing, sustainable relationships with both to ensure mutual benefit, and always aim to be honest and transparent in line with our Company culture. Our conduct guarantees that we treat all customers and suppliers fairly. All suppliers are paid to terms with any queries being dealt with as a matter of urgency to ensure the supply chain continues uninterrupted. Environment The Company is registered with National Quality Assurance (NQA), a leading assessment, verification and certification body in quality, environment and health & safety management. The Company operates an integrated management system which complies with the three recognised standards of BS EN ISO9001, ISO14001 and ISO45001.
Page 2
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Standards of Business Conduct
The Company is committed to conducting its business with the highest integrity and compliance with the law and has standards in place which must be adhered to by everyone who represents the Company. These standards embody the fundamental principles that govern our ethical and legal obligations and not only comply with the Company's policies but also with applicable laws and regulations. Outlook Over the last few financial years the Company has experienced a number of critical business factors whether they be the fragile state of the UK economy, the long-term effects of Brexit on trade within the EU and further afield, inflationary pressures on labour rates, energy costs and almost all other cost centres, together with fluctuating exchange rates. These factors have inevitably given rise to future economic uncertainty for the Company. Management continues to take decisive action to manage and adapt to an ever-changing situation and, ultimately, have delivered operational efficiencies which place the business on strong footings that ensure it is well-positioned to capitalise on future opportunities. The Company has strong commercial and strategic relationships with its key trading partners in ferrous and nonferrous scrap and continues to target improving efficiencies across every area of operations and maximise economies of scale as it grows revenue streams. The Company’s pipeline of projects remains strong on the back of further contract wins during and after the year and the directors anticipate further contract wins over the next 12 months. This demonstrates the Company’s ability to meet its customers’ requirements, to complete projects to their agreed timetable and programme, safely, competently and efficiently. It is also an endorsement of the Company’s operational capabilities. The directors would like to take this opportunity to thank its staff, customers, and business partners for their continued support throughout the period.
This report was approved by the board on 19 December 2025 and signed on its behalf.
Page 3
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
The directors present their report and the financial statements for the year ended 30 April 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £2,911,670 (2024 - £2,679,524).
During the year, the directors declared dividends of £2,300,00 (2024 - £900,000).
The directors who served during the year were:
Page 4
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as the Company is a subsidiary undertaking of NRLB Limited and is not obliged to report its own energy and carbon information.
After the year end, Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors in accordance with section 485 of the Companies Act 2006.
The auditor, Barnes Roffe Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
On 19 July 2024, Nicholas Brown resigned from the board of the Company and ceased all involvement in its management to comply with a competition disqualification undertaking (CDU) given by Mr Brown to the Competition and Markets Authority (CMA) following the settlement of a competition investigation into two historic infringements of competition law involving another company, Brown and Mason Limited, of which the Company is economic successor. Mr Brown is employed by the Company in an advisory and supporting role, subject to strict compliance with the terms of the CDU.
This report was approved by the board on
Page 5
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWN AND MASON GROUP LIMITED
We have audited the financial statements of Brown and Mason Group Limited (the 'Company') for the year ended 30 April 2025, which comprise the Statement of income and retained earnings, the Balance sheet and the related notes, 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 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 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.
Page 6
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWN AND MASON GROUP LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the 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.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
Page 7
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWN AND MASON GROUP LIMITED (CONTINUED)
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 an Auditor's report 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:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, includingfraud and non-compliance with law and regulations, was as follows:
∙The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙We identified the laws and regulations applicable to the Company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector;
∙The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows:
- Companies Act 2006 - FRS102 - ISO standards - Health and Safety legislation
∙We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
∙Making enquires of management as to where they consider there was susceptibility to fraud and their
knowledge of actual suspected and alleged fraud;
∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations;
∙Reviewing the financial statements and testing the disclosures against supporting documentation;
∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
∙Inspecting and reviewing journal entries to identify unusual or unexpected transactions;
∙Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and
∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the Company’s usual course of business.
Page 8
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWN AND MASON GROUP LIMITED (CONTINUED)
The areas that we identified as being susceptible to misstatement through fraud were:
∙Management bias in the estimates and judgements made;
∙Management override of controls; and
∙Posting of unusual journals or transactions.
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 Auditor's 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
Statutory Auditor
Leytonstone House
3 Hanbury Drive
Leytonstone
E11 1GA
Page 9
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 APRIL 2025
Page 10
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
REGISTERED NUMBER: 01892133
BALANCE SHEET
AS AT 30 APRIL 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 12 to 28 form part of these financial statements.
Page 11
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Brown and Mason Group Limited ("the Company") is a Company limited by shares, incorporated in England and Wales. Its registered office is Anson House, Schooner Court, Crossways Business Park, Dartford, Kent, DA2 6QQ.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
As part of the going concern review, the directors have followed the guidelines published by the Financial Reporting Council entitled "Guidance on the Going Concern Basis of Accounting and Reporting on Solvency and Liquidity Risks 2016". The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future as the Company expects to receive continuing financial support from the NRLB Limited Group, a Group of which the Company is a member. On this basis the directors considers that the going concern basis of accounting remains appropriate.
Page 12
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the Statement of income and retained earnings turnover and related costs as contract activity progresses. Revenue is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
Where contracts consist of demolition services and the extraction of scrap, they are treated as one for the purpose of accounting for long term contracts as they are, in effect, part of a single project with an overall profit margin. The scrap arising from the demolition work in reaching that stage of completion is taken to revenue on delivery. Any potential loss on a long-term demolition contract is provided in full as soon as it is foreseen.
In order to apply the above policy, the contracts are reviewed at the end of the year to determine the estimated costs to completion, the future sales value of the contracts and the estimated revenues to be earned on the sale of scrap.
Page 13
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Page 14
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following annual bases:
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 since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 15
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
At each balance sheet date, work in progress is assessed for impairment and any impairment loss is recognised immediately in the statement of income and retained earnings. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Page 16
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Page 17
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Determining the stage of completion on contracts requires the assessment of future costs to complete and the probability that the economic benefits will flow to the entity so that revenue can be measured reliably with reasonable certainty. In order to apply the above assessment, the directors will review the contracts at the end of the year and make estimates and assumptions based on historic experience and expected outcomes. This consideration will impact upon revenue, profits and the valuation of stock of scrap. The annual depreciation charge for tangible fixed assets is sensitive to changes in estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 13 for the carrying amount of the property, plant and equipment, and note 2.11 for useful economic lives for each class of asset.
Page 18
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 19
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 20
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
The Company and Group undertakings have taxable losses to carry forward against future taxable profits of £7,193,742 (2024 - £9,488,298).
Page 21
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 22
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
13.Tangible fixed assets (continued)
Page 23
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 24
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 25
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Profit and loss account
Page 26
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £189,006 (2024 - £189,474). Contributions totalling £21,905 (2024 - £26,178) were payable to the fund at the balance sheet date and are included in creditors.
The ultimate parent company is NRLB Limited, a company registered in England and Wales. Its registered office is Anson House, Schooner Court, Crossways Business Park, Dartford, Kent, DA2 6QQ.
The Company is included in the consolidated accounts prepared by NRLB Limited, and copies of those accounts can be obtained from Companies House.
Page 27
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
BROWN AND MASON GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 28
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||