REGISTERED NUMBER:
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Messenger BCR Group Limited |
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Strategic Report, Report of the Directors and |
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Financial Statements For The Year Ended 31st March 2022 |
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REGISTERED NUMBER:
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Messenger BCR Group Limited |
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Strategic Report, Report of the Directors and |
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Financial Statements For The Year Ended 31st March 2022 |
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Messenger BCR Group Limited (Registered number: 08203415) |
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Contents of the Financial Statements |
For The Year Ended 31st March 2022 |
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Page |
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Company Information | 1 |
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Strategic Report | 2 |
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Report of the Directors | 3 |
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Report of the Independent Auditors | 4 | to | 6 |
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Income Statement | 7 |
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Other Comprehensive Income | 8 |
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Balance Sheet | 9 |
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Statement of Changes in Equity | 10 |
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Cash Flow Statement | 11 |
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Notes to the Financial Statements | 12 | to | 21 |
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Messenger BCR Group Limited |
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Company Information |
For The Year Ended 31st March 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
310 Wellingborough Road |
Northampton |
NN1 4EP |
Messenger BCR Group Limited (Registered number: 08203415) |
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Strategic Report |
For The Year Ended 31st March 2022 |
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The directors present their strategic report for the year ended 31st March 2022. |
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The directors will present their full strategic report in the consolidated financial statements, as this company is effectively the holding company for the group. |
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REVIEW OF BUSINESS |
Overall, the group has performed well through the year, despite the ongoing challenges of Covid 19 pandemic, price rises, labour shortages and the continuing poor performance of one particular department. The biggest challenge going forwards will be to control the effects of inflation and protect our margins. |
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Particular concentration on the poorer performing aspects of the group and action will be taken to avoid future losses. |
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Messenger Construction remains the backbone of the business group. A restructuring of the board has taken place during the year, resulting in a smaller but more focused group of individuals, with a passion for taking the business forward. A younger board, with a long-term focus on controlled growth, bodes well for the future of the group. |
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We have seen increased turnover and good margins within our insurance repairs related division and can see great potential for growth within this specialist repairs market. Focus for this year will continue to see a stronger concentration upon growth in this area. |
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PRINCIPAL RISKS AND UNCERTAINTIES |
The directors are not aware of any specific fundamental risks and uncertainties with regards to the current trading activities, they are aware of the higher demand for skilled workforce, increased material prices and bespoke services within the industry. However, the strength of the group's overall reputation for quality and excellent service, along with its large direct workforce, helps to mitigate the risk in forward trading. |
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ON BEHALF OF THE BOARD: |
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Messenger BCR Group Limited (Registered number: 08203415) |
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Report of the Directors |
For The Year Ended 31st March 2022 |
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The directors present their report with the financial statements of the company for the year ended 31st March 2022. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of a holding company. |
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DIVIDENDS |
No dividends will be distributed for the year ended 31st March 2022. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1st April 2021 to the date of this report. |
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DIRECTORS' RESPONSIBILITIES STATEMENT |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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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 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. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
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AUDITORS |
The auditors, Cheney & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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ON BEHALF OF THE BOARD: |
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Report of the Independent Auditors to the Members of |
Messenger BCR Group Limited |
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Opinion |
We have audited the financial statements of Messenger BCR Group Limited (the 'company') for the year ended 31st March 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Financial Statements, 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). |
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In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31st March 2022 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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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. |
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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. |
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Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
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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. |
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In connection with our audit of the financial statements, 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 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. |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
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Matters on which we are required to report by exception |
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 Report of the Directors. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Report of the Independent Auditors to the Members of |
Messenger BCR Group Limited |
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Responsibilities of directors |
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
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Auditors' responsibilities for the audit of the financial statements |
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 a Report of the Auditors 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. |
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The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
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The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatements due to fraud or error; and to respond appropriately to those risks. |
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Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). |
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In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: |
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We obtained an understanding of the legal and regulatory frameworks applicable to the company in the sectors in which they operate. We determine that the following laws and regulations were most significant: the Companies Act 2006, UK taxation laws and UK GAAP. |
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The performance materiality applicable to the audit is £14,850 based on 1% of the turnover. The company operates as a holding company for the group so only trades with other group companies therefore the risk to misstatement of income is considered as low. |
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We have undertaken high levels of testing of balances included in the balance sheet and have performed a detailed analytical review of the income statement. |
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Prior to commencement of the audit staff were briefed on the risk assessment of the susceptibility company's financial statements to material misstatement, including how fraud could occur. |
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At the completion stage of the audit the results of audit tests were re-examined to ensure that they were consistent with our knowledge of the client and did not warrant further investigation of transactions and balances. |
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We have assessed the susceptibility of the financial statements of the company to material misstatement, including how fraud might occur. Audit procedures performed for the company's accounts included: |
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- identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud; |
- understanding how those charged with governance considered and addressed the potential for the override of controls or other inappropriate influence over the financial reporting process; |
- challenging assumptions and judgements made by the management in its significant accounting estimates; |
- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and |
- assessing the extent of the compliance with the relevant laws and regulations. |
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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 Report of the Auditors. |
Report of the Independent Auditors to the Members of |
Messenger BCR Group Limited |
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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 a Report of the Auditors 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. |
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for and on behalf of
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Statutory Auditor |
310 Wellingborough Road |
Northampton |
NN1 4EP |
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Messenger BCR Group Limited (Registered number: 08203415) |
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Income Statement |
For The Year Ended 31st March 2022 |
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2022 | 2021 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses | ( |
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245,468 | 319,106 |
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Other operating income |
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OPERATING PROFIT | 5 |
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Income from shares in group undertakings |
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Interest receivable and similar income |
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408,013 | 618,742 |
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Interest payable and similar expenses | 6 | ( |
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PROFIT BEFORE TAXATION |
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Tax on profit | 7 | ( |
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PROFIT FOR THE FINANCIAL YEAR |
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Messenger BCR Group Limited (Registered number: 08203415) |
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Other Comprehensive Income |
For The Year Ended 31st March 2022 |
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2022 | 2021 |
Notes | £ | £ |
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PROFIT FOR THE YEAR |
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OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR |
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Messenger BCR Group Limited (Registered number: 08203415) |
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Balance Sheet |
31st March 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
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Investments | 10 |
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CURRENT ASSETS |
Debtors | 11 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 12 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 13 | ( |
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PROVISIONS FOR LIABILITIES | 17 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 18 |
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Merger reserve | 19 |
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Retained earnings | 19 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Messenger BCR Group Limited (Registered number: 08203415) |
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Statement of Changes in Equity |
For The Year Ended 31st March 2022 |
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Called up |
share | Retained | Merger | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
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Balance at 1st April 2020 |
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Changes in equity |
Dividends | - | ( |
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Total comprehensive income | - |
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Balance at 31st March 2021 |
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Changes in equity |
Total comprehensive income | - |
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Balance at 31st March 2022 |
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Messenger BCR Group Limited (Registered number: 08203415) |
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Cash Flow Statement |
For The Year Ended 31st March 2022 |
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2022 | 2021 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 23 |
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Interest paid | ( |
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Tax paid | ( |
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Net cash from operating activities | ( |
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Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
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Interest received |
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Dividends received |
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Net cash from investing activities |
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Cash flows from financing activities |
New loans in year |
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Loan repayments in year | ( |
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Amount withdrawn by directors | (3,045 | ) | - |
Equity dividends paid |
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Net cash from financing activities | ( |
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Increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of
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24 |
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725 |
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Cash and cash equivalents at end of year | 24 | 12,908 | 7,918 |
Messenger BCR Group Limited (Registered number: 08203415) |
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Notes to the Financial Statements |
For The Year Ended 31st March 2022 |
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1. | STATUTORY INFORMATION |
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Messenger BCR Group Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The preparation of financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires the directors to exercise judgement in the process of applying the company`s accounting policies. The areas involving a higher degree of judgement or complexity or areas where assumptions and estimates are significant to the financial statements are disclosed under critical accounting judgements and key sources of estimation uncertainty below. |
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The significant accounting policies applied in the preparation of these financial statements are set out below.These policies have been consistently applied to all years presented unless otherwise stated. |
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Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
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• | the requirement of paragraph 33.7. |
Messenger BCR Group Limited (Registered number: 08203415) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st March 2022 |
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3. | ACCOUNTING POLICIES - continued |
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Critical accounting judgements and key sources of estimation uncertainty |
The company makes estimates and assumptions concerning the future. The directors are also required to exercise judgement in the process of applying the company`s accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
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The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. |
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In preparing these financial statements , the directors have made the following judgements: |
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> Recoverability of trade and other debtors |
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Trade and other debtors are recognised to the extent that they are judged recoverable. The directors reviews are performed to estimate the level of reserves required for irrecoverable debt. Provisions are made specifically against invoices where recoverability is uncertain. |
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The directors make allowances for doubtful debts based on an assessment of the recoverability of debtors.Allowances are applied to debtors where events or changes in circumstances indicate that the carrying amounts may not be recoverable. The directors specifically analyse historical bad debts, customer creditworthiness , current economic trends and changes in customer payment terms when making a judgement to evaluate the adequacy of the provision for doubtful debts. Where the expectation is different from the original estimate, such a difference will impact the carrying value of debtors and the charge in the profit and loss account. |
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> Provisions |
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A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material , provisions are determined by discounting the expected future cash flow that reflects the time value of money and the risks specific to the liability. |
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Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ, the directors`s judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not. |
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> Taxation |
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There are many transactions and calculations for which the ultimate tax determination is uncertain. The company recognises liabilities for anticipated tax issues based on estimates of whether additional taxes will be due. |
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The directors estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies |
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> Depreciation, amortisation and residual values |
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The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and have concluded that asset lives and residual values are appropriate. |
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The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.Residual value assessments consider issues such as future market conditions , the remaining life of the asset and projected disposal values. |
Messenger BCR Group Limited (Registered number: 08203415) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st March 2022 |
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3. | ACCOUNTING POLICIES - continued |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Turnover comprises the fair valuation for consideration received or receivable, net of any Value Added Tax, rebates and discounts. |
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Turnover arises from increases in valuations on contracts and is the gross value of work carried out for the period to the balance sheet date, including contract variations and claims. |
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Variations in contract work are only included to the extent that it is probable that they will result in revenue and that they are capable of being reliably measured. |
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Where the total income of a contract cannot be estimated reliably, contract revenue is recognised to the extent that it is probable contract costs will be recovered. |
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Profit on contracts is calculated in accordance with the accounting standards and industry practice. Profit recognition is based on an assessment of the overall profitability forecast on individual contracts and is recognised when the outcome of the contract can be assessed with reasonable certainty. The profit recognised reflects that part of the total profit currently estimated to arise over the duration of the contract that fairly represents the profit attributable to work performed at the balance sheet date. The assessment of the final outcome of each contract is determined by regular review of the revenues and costs to complete that contract. |
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Provisions are made for losses incurred or foreseen in bringing the contract to completion as soon as they become apparent. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Government grants |
Grants relating to the Job Retension Scheme are accounted under the accruals model as permitted by FRS 102 . The accrued element of grants is included in debtors as accrued income. |
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Grants relating to the Job Retention Scheme are recognised in the Income Statement within other operating income in the same period as the related staff costs. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Messenger BCR Group Limited (Registered number: 08203415) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st March 2022 |
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3. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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4. | EMPLOYEES AND DIRECTORS |
2022 | 2021 |
£ | £ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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The average number of employees during the year was as follows: |
2022 | 2021 |
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Directors | 3 | 3 |
Head office | 11 | 13 |
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2022 | 2021 |
£ | £ |
Directors' remuneration |
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Directors' pension contributions to money purchase schemes |
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The number of directors to whom retirement benefits were accruing was as follows: |
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Money purchase schemes |
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5. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2022 | 2021 |
£ | £ |
Other operating leases |
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Depreciation - owned assets |
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Depreciation - assets on hire purchase contracts |
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Auditors' remuneration |
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6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2022 | 2021 |
£ | £ |
Bank interest |
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Messenger BCR Group Limited (Registered number: 08203415) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st March 2022 |
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7. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2022 | 2021 |
£ | £ |
Current tax: |
UK corporation tax |
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Deferred tax |
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Tax on profit |
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Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
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2022 | 2021 |
£ | £ |
Profit before tax |
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Profit multiplied by the standard rate of corporation tax in the UK of
(2021 - |
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Effects of: |
Expenses not deductible for tax purposes |
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Depreciation in excess of capital allowances |
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Deferred tax movement | 14,950 | 24,000 |
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Franked investment income | (30,409 | ) | (47,500 | ) |
Total tax charge | 64,667 | 93,596 |
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8. | DIVIDENDS |
2022 | 2021 |
£ | £ |
Interim |
|
|
|
9. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st April 2021 |
|
|
|
|
|
Additions |
|
|
|
|
|
At 31st March 2022 |
|
|
|
|
|
DEPRECIATION |
At 1st April 2021 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
At 31st March 2022 |
|
|
|
|
|
NET BOOK VALUE |
At 31st March 2022 |
|
|
|
|
|
At 31st March 2021 |
|
|
|
|
|
Messenger BCR Group Limited (Registered number: 08203415) |
|
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2022 |
|
9. | TANGIBLE FIXED ASSETS - continued |
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
Additions |
|
At 31st March 2022 |
|
DEPRECIATION |
Charge for year |
|
At 31st March 2022 |
|
NET BOOK VALUE |
At 31st March 2022 |
|
|
10. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st April 2021 |
and 31st March 2022 |
|
NET BOOK VALUE |
At 31st March 2022 |
|
At 31st March 2021 |
|
|
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
|
|
Registered office: Collyweston Heritage Centre , Main Road, Collyweston , Stamford, Lincolnshire, PE9 3PQ |
Nature of business:
|
% |
Class of shares: | holding |
|
|
2022 | 2021 |
£ | £ |
Aggregate capital and reserves |
|
|
Profit for the year |
|
|
|
|
Registered office: Collyweston Heritage Centre , Main Road, Collyweston , Stamford, Lincolnshire, PE9 3PQ |
Nature of business:
|
% |
Class of shares: | holding |
|
|
2022 | 2021 |
£ | £ |
Aggregate capital and reserves |
|
|
Profit for the year |
|
|
Messenger BCR Group Limited (Registered number: 08203415) |
|
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2022 |
|
10. | FIXED ASSET INVESTMENTS - continued |
|
|
Registered office: Collyweston Heritage Centre , Main Road, Collyweston , Stamford, Lincolnshire, PE9 3PQ |
Nature of business:
|
% |
Class of shares: | holding |
|
|
2022 | 2021 |
£ | £ |
Aggregate capital and reserves |
|
|
|
|
Registered office: Collyweston Heritage Centre , Main Road, Collyweston , Stamford, Lincolnshire, PE9 3PQ |
Nature of business:
|
% |
Class of shares: | holding |
|
|
2022 | 2021 |
£ | £ |
Aggregate capital and reserves |
|
|
|
|
Registered office: Collyweston Heritage Centre , Main Road, Collyweston , Stamford, Lincolnshire, PE9 3PQ |
Nature of business:
|
% |
Class of shares: | holding |
|
|
2022 | 2021 |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Loss for the year | ( |
) | ( |
) |
|
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
VAT |
|
|
Prepayments and accrued income |
|
|
|
|
|
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts (see note 14) |
|
|
Hire purchase contracts (see note 15) |
|
|
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Tax |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
Credit cards | - | 2,197 |
Directors' current accounts | 46 | 3,091 |
Accrued expenses |
|
|
|
|
Messenger BCR Group Limited (Registered number: 08203415) |
|
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2022 |
|
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans (see note 14) |
|
|
Hire purchase contracts (see note 15) |
|
|
|
|
|
14. | LOANS |
|
An analysis of the maturity of loans is given below: |
|
2022 | 2021 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
|
|
|
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
|
|
|
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | 384,456 | 472,755 |
|
15. | LEASING AGREEMENTS |
|
Minimum lease payments under hire purchase fall due as follows: |
|
2022 | 2021 |
£ | £ |
Net obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
16. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2022 | 2021 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts | 5,543 | - |
|
|
|
The Royal Bank of Scotland hold a debenture over all the assets of the company dated 31st July 2017 |
|
The Royal Bank of Scotland also hold a legal charge over the companies property at Main Road, Collyweston , Stamford , Lincolnshire. PE9 3PQ. |
|
The Royal Bank of Scotland have a debenture dated 27th September 2021 over all the assets of the company. |
|
Finally The Royal Bank of Scotland have an unlimited , inter group guarantee dated 27th September 2021. |
Messenger BCR Group Limited (Registered number: 08203415) |
|
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2022 |
|
17. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 87,950 | 73,000 |
|
Deferred |
tax |
£ |
Balance at 1st April 2021 |
|
Provided during year |
|
Balance at 31st March 2022 |
|
|
18. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
|
Ordinary Shares | £1 | 1,000 | 1,000 |
|
19. | RESERVES |
Retained | Merger |
earnings | reserve | Totals |
£ | £ | £ |
|
At 1st April 2021 |
|
|
798,851 |
Profit for the year |
|
- |
|
At 31st March 2022 |
|
|
1,116,906 |
|
20. | ULTIMATE PARENT COMPANY |
|
Messenger BCR Limited is regarded by the directors as being the company's ultimate parent company. |
|
21. | CONTINGENT LIABILITIES |
|
There were no contingent liabilities as at 31st March 2022 or 31st March 2021. |
|
22. | CAPITAL COMMITMENTS |
|
There were no capital commitments as at 31st March 2022 or 31st March 2021. |
|
23. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2022 | 2021 |
£ | £ |
Profit before taxation |
|
|
Depreciation charges |
|
|
Government grants | ( |
) | ( |
) |
Finance costs | 25,291 | 23,615 |
Finance income | (160,045 | ) | (252,215 | ) |
357,612 | 369,222 |
(Increase)/decrease in trade and other debtors | ( |
) |
|
Decrease in trade and other creditors | ( |
) | ( |
) |
Cash generated from operations |
|
|
Messenger BCR Group Limited (Registered number: 08203415) |
|
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2022 |
|
24. | CASH AND CASH EQUIVALENTS |
|
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
|
Year ended 31st March 2022 |
31.3.22 | 1.4.21 |
£ | £ |
Cash and cash equivalents | 12,908 | 7,918 |
Year ended 31st March 2021 |
31.3.21 | 1.4.20 |
£ | £ |
Cash and cash equivalents | 7,918 | 725 |
|
|
25. | ANALYSIS OF CHANGES IN NET DEBT |
|
At 1.4.21 | Cash flow | At 31.3.22 |
£ | £ | £ |
Net cash |
Cash at bank | 7,918 | 4,990 | 12,908 |
7,918 |
|
12,908 |
Debt |
Finance leases | - | (5,543 | ) | (5,543 | ) |
Debts falling due within 1 year | (49,158 | ) | (6,524 | ) | (55,682 | ) |
Debts falling due after 1 year | (669,388 | ) | 62,204 | (607,184 | ) |
(718,546 | ) | 50,137 | (668,409 | ) |
Total | (710,628 | ) | 55,127 | (655,501 | ) |