Company Registration No. 12500564 (England and Wales)
SKILTON GROUP LIMITED
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
United Kingdom
PO6 3TH
SKILTON GROUP LIMITED
CONTENTS
Page
Company information
1
Strategic report
2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group balance sheet
9 - 10
Company balance sheet
11
Group statement of changes in equity
12 - 13
Company statement of changes in equity
14
Group statement of cash flows
15
Notes to the financial statements
16 - 34
SKILTON GROUP LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr. A Skilton
Mrs K L Winter
Company number
12500564
Registered office
Skill House
Andes Road
Nursling, Southampton
Southampton
SO16 0YZ
Auditor
TC Group
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
SKILTON GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -

The directors present the strategic report for the year ended 31 March 2023.

Principal activity

Skilton Group Limited is the non-trading, parent company of Skill Scaffolding Limited.

 

The principal activity of Skill Scaffolding continued to be that of scaffolding erection and scaffolding services.

Business review

As a result of the economic climate both turnover and operating profit have dropped in the year.

Looking ahead

Again, with the economic climate as it is we are hopeful that clients do not cancel or slow down on projects but we are ever mindful of the need to be flexible in controlling our costs. We are continuing to focus on introducing ourselves to new clients whose projects may not be affected as much by a recession, for example rail works, and re-cladding projects both of which we are qualified and equipped to undertake.

Interest rates also remain a concern, along with the increase in outgoings with energy costs, but we are constantly aware of the need to maintain controls in this area and believe we have the ability to overcome any significant issues as we move forward.

The System Scaffold that we invested in was a great success when utilized, and we are now focusing on winning jobs on which we can use this.

Key Performance Indicators

Given the nature of our business the Directors are of the opinion that the use of non-financial KPI’s is not necessary to obtain an understanding of the company’s performance. We manage the following financial KPI’s:

Turnover £9.6m

Gross Profit 2.5m

Profit Before Tax 486k

On behalf of the board

Mr. A Skilton
Director
17 October 2023
SKILTON GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -

The directors present their annual report and financial statements for the year ended 31 March 2023.

Principal activities

The principal activity of the company and group was that of scaffolding erection and scaffolding services. The company was incorporated on 5th March 2020 and subsequently acquired Skill Scaffolding Limited as a subsidiary on 10th March 2020.

Results and dividends

The results for the period are set out on page 9.

Ordinary dividends were paid amounting to £260,012. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr. A Skilton
Mrs K L Winter
Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

TC Group were appointed as auditor to the group and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

SKILTON GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
Mr. A Skilton
Director
17 October 2023
SKILTON GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SKILTON GROUP LIMITED
- 5 -
Opinion

We have audited the financial statements of Skilton Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

SKILTON GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SKILTON GROUP LIMITED
- 6 -

Other information

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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent 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 parent company or to cease operations, or have no realistic alternative but to do so.

SKILTON GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SKILTON GROUP LIMITED
- 7 -
Auditor's 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 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. 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.

Graham Figgins FCA (Senior Statutory Auditor)
For and on behalf of TC Group
17 October 2023
Chartered Accountants
3 Acorn Business Centre
Statutory Auditor
Northarbour Road
Cosham
Portsmouth
Hampshire
SKILTON GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
2023
2022
Notes
£
£
Turnover
3
9,573,410
10,312,244
Cost of sales
(7,085,542)
(6,780,891)
Gross profit
2,487,868
3,531,353
Administrative expenses
(1,502,391)
(1,923,010)
Other operating income
-
85,650
Operating profit
4
985,477
1,693,993
Interest receivable and similar income
7
590
486
Interest payable and similar expenses
8
(500,340)
(743,656)
Profit before taxation
485,727
950,823
Tax on profit
9
(213,438)
(277,422)
Profit for the financial year
272,289
673,401
Other comprehensive income
Revaluation of tangible fixed assets
(642,762)
4,606,253
Tax relating to other comprehensive income
122,125
(875,188)
Effect of future tax rates used in deferred tax calculation
(237,810)
-
Total comprehensive income for the year
(486,158)
4,404,466
Profit for the financial year is attributable to:
- Owners of the parent company
95,255
489,282
- Non-controlling interests
177,034
184,119
272,289
673,401
Total comprehensive income for the year is attributable to:
- Owners of the parent company
(511,503)
3,474,134
- Non-controlling interests
25,345
(562,094)
(486,158)
4,404,466
The notes on pages 16 to 34 form part of these financial statements
SKILTON GROUP LIMITED
GROUP BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 9 -
2023
2022
Notes
£
£
£
£
Fixed assets
Goodwill
11
1,080,561
1,235,851
Tangible assets
12
7,130,834
7,755,856
8,211,395
8,991,707
Current assets
Debtors
15
1,416,504
1,540,448
Cash at bank and in hand
1,818,648
2,290,870
3,235,152
3,831,318
Creditors: amounts falling due within one year
16
(2,400,450)
(2,750,331)
Net current assets
834,702
1,080,987
Total assets less current liabilities
9,046,097
10,072,694
Creditors: amounts falling due after more than one year
17
(3,125,968)
(3,355,359)
Provisions for liabilities
Deferred tax liability
20
1,222,369
1,028,093
(1,222,369)
(1,028,093)
Net assets
4,697,760
5,689,242
Capital and reserves
Called up share capital
22
10
10
Share premium account
534,045
534,045
Revaluation reserve
2,378,094
2,984,852
Profit and loss reserves
480,836
702,474
Equity attributable to owners of the parent company
3,392,985
4,221,381
Non-controlling interests
1,304,775
1,467,861
4,697,760
5,689,242

The notes on pages 16 to 34 form part of these financial statements.

SKILTON GROUP LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 10 -
The financial statements were approved by the board of directors and authorised for issue on 17 October 2023 and are signed on its behalf by:
17 October 2023
Mr. A Skilton
Director
Company registration number 12500564 (England and Wales)
SKILTON GROUP LIMITED
COMPANY BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 11 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
13
4,312,368
4,312,368
Current assets
Debtors
15
135,765
9
Cash at bank and in hand
1,120,538
1,081,546
1,256,303
1,081,555
Creditors: amounts falling due within one year
16
(848,898)
(351,737)
Net current assets
407,405
729,818
Total assets less current liabilities
4,719,773
5,042,186
Creditors: amounts falling due after more than one year
17
(2,131,864)
(2,399,830)
Net assets
2,587,909
2,642,356
Capital and reserves
Called up share capital
22
10
10
Share premium account
534,045
534,045
Profit and loss reserves
2,053,854
2,108,301
Total equity
2,587,909
2,642,356

The notes on pages 16 to 34 form part of these financial statements.

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £205,565 (2022 - £1,285,304 profit).

The financial statements were approved by the board of directors and authorised for issue on 17 October 2023 and are signed on its behalf by:
17 October 2023
Mr. A Skilton
Director
Company registration number 12500564 (England and Wales)
SKILTON GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023
- 12 -
Share capital
Share premium account
Revaluation reserve
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
£
Balance at 1 April 2021
10
534,045
-
421,897
955,952
720,821
1,676,773
Period ended 31 March 2022:
Profit for the period
-
-
-
489,282
489,282
184,119
673,401
Other comprehensive income:
Revaluation of tangible fixed assets
-
-
4,606,253
-
4,606,253
-
4,606,253
Tax relating to other comprehensive income
-
-
(875,188)
-
0
(875,188)
-
(875,188)
Total comprehensive income for the period
-
-
3,731,065
489,282
4,220,347
184,119
4,404,466
Dividends
10
-
-
-
(208,705)
(208,705)
(236,312)
(445,017)
Acquisition of subsidiary
-
-
-
-
-
53,020
53,020
Revaluation gains attributable to non-controlling interests
-
-
(746,213)
-
(746,213)
746,213
-
Balance at 31 March 2022
10
534,045
2,984,852
702,474
4,221,381
1,467,861
5,689,242
SKILTON GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Share capital
Share premium account
Revaluation reserve
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
£
- 13 -
Year ended 31 March 2023:
Profit for the year
-
-
-
95,255
95,255
177,034
272,289
Other comprehensive income:
Revaluation of tangible fixed assets
-
-
(642,762)
-
(642,762)
-
(642,762)
Tax relating to other comprehensive income
-
-
(115,685)
-
0
(115,685)
-
(115,685)
Total comprehensive income for the year
-
-
(758,447)
95,255
(663,192)
177,034
(486,158)
Dividends
10
-
-
-
(260,012)
(260,012)
(245,312)
(505,324)
Adjustment to non-controlling interest
-
-
-
(56,881)
(56,881)
56,881
-
Revaluation losses attributable to non-controlling interests
-
-
151,689
-
151,689
(151,689)
-
Balance at 31 March 2023
10
534,045
2,378,094
480,836
3,392,985
1,304,775
4,697,760
The notes on pages 16 to 34 form part of these financial statements
SKILTON GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023
- 14 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2021
10
534,045
1,031,703
1,565,758
Period ended 31 March 2022:
Profit and total comprehensive income for the period
-
-
1,285,303
1,285,303
Dividends
10
-
-
(208,705)
(208,705)
Balance at 31 March 2022
10
534,045
2,108,301
2,642,356
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
-
205,565
205,565
Dividends
10
-
-
(260,012)
(260,012)
Balance at 31 March 2023
10
534,045
2,053,854
2,587,909

The notes on pages 16 to 34 form part of these financial statements.

SKILTON GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
- 15 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
1,664,101
1,873,980
Interest paid
(500,340)
(743,656)
Income taxes (paid)/refunded
(274,513)
12,903
Net cash inflow from operating activities
889,248
1,143,227
Investing activities
Purchase of business
-
265,100
Purchase of tangible fixed assets
(313,440)
(442,311)
Proceeds from disposal of tangible fixed assets
83,175
5,000
Repayment of loans
(12,149)
(86,951)
Interest received
590
486
Net cash used in investing activities
(241,824)
(258,676)
Financing activities
Repayment of bank loans
(393,461)
(122,857)
Payment of finance leases obligations
(220,861)
(259,105)
Dividends paid to equity shareholders
(260,012)
(208,705)
Dividends paid to non-controlling interests
(245,312)
(236,312)
Net cash used in financing activities
(1,119,646)
(826,979)
Net (decrease)/increase in cash and cash equivalents
(472,222)
57,572
Cash and cash equivalents at beginning of year
2,290,870
2,233,298
Cash and cash equivalents at end of year
1,818,648
2,290,870

The notes on pages 16 to 34 form part of these financial statements.

SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 16 -
1
Accounting policies
Company information

Skilton Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Skill House, Andes Road, Nursling, Southampton, SO16 0YZ.

 

The group consists of Skilton Group Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of plant and equipment at fair value. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

 

1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Skilton Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 March 2023. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 17 -

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line
Plant and equipment
Between 3 and 30 years
Fixtures and fittings
15% on reducing balance
Motor vehicles
25% on reducing balance
SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 18 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

 

The company hold plant and equipment which is mostly made up of scaffolding equipment. Plant and equipment was previously valued at depreciated historical cost. The directors now consider this to be inappropriate and have decided to apply the revaluation model. The plant and equipment has been revalued to fair value which the directors have based on second hand market prices, which they consider to be appropriate.

 

The revaluation movement has been taken directly to the revaluation reserve within the equity section of the balance sheet and is reported as other comprehensive income. Deferred tax has been recognised on the revaluation of plant and equipment. The deferred tax expenses has been charged to the revaluation reserve, with a corresponding liability held within the deferred tax provision on the balance sheet.

1.7
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 19 -
1.10
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Classification of 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 group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 20 -
1.11
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 21 -
1.15
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

1.16
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 22 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements have had the most significant effect on amounts recognised in the financial statements.

Amounts recoverable on long term contracts

In the case of contracts treated as long term the directors assess the stage of completion by comparing the current costs with the total expected costs for the project. Consideration is given to external factors that may affect the overall outcome of the project.

Tangible fixed assets - plant and equipment

The directors have applied the revaluation model for plant and equipment. The plant and equipment has been revalued to fair value which the directors have based on second hand market prices, which they consider to be appropriate. The directors have obtained the second hand prices by doing their own research. An independent valuer was not involved.

SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 23 -
3
Turnover and other revenue
2023
2022
£
£
Turnover analysed by geographical market
United Kingdom
9,573,410
10,312,244
4
Operating profit
2023
2022
£
£
Operating profit for the year is stated after charging/(crediting):
Government grants in respect of Coronavirus
-
(85,650)
Depreciation of owned tangible fixed assets
667,948
299,754
Depreciation of tangible fixed assets held under hire purchase agreements
128,601
142,950
Impairment of owned tangible fixed assets
-
202,467
(Profit)/loss on disposal of tangible fixed assets
(50,906)
9,080
Amortisation of intangible assets
155,290
133,199
Operating lease charges
33,873
53,236
5
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
3,925
2,250
Audit of the financial statements of the company's subsidiaries
12,500
12,000
16,425
14,250
SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 24 -
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2023
2022
2023
2022
Number
Number
Number
Number
Production
95
108
-
-
Administrative
15
12
-
-
Total
110
120
-
0
-
0

Their aggregate remuneration comprised:

Group
Company
2023
2022
2023
2022
£
£
£
£
Wages and salaries
5,299,636
5,253,850
-
0
-
0
Social security costs
82,615
67,771
-
-
Pension costs
19,105
62,189
-
0
-
0
5,401,356
5,383,810
-
0
-
0
7
Interest receivable and similar income
2023
2022
£
£
Interest income
Interest on bank deposits
590
18
Other interest income
-
468
Total income
590
486
SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 25 -
8
Interest payable and similar expenses
2023
2022
£
£
Interest on bank overdrafts and loans
223,562
461,192
Other interest on financial liabilities
262,682
251,936
Interest on finance leases and hire purchase contracts
14,096
30,528
Total finance costs
500,340
743,656
9
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
134,847
241,137
Adjustments in respect of prior periods
-
0
(31,832)
Total current tax
134,847
209,305
Deferred tax
Origination and reversal of timing differences
23,032
68,117
Changes in tax rates
55,559
-
0
Total deferred tax
78,591
68,117
Total tax charge
213,438
277,422
SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
9
Taxation
(Continued)
- 26 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Profit before taxation
485,727
950,823
Expected tax charge based on the standard rate of corporation tax in the UK of 19.00% (2022: 19.00%)
92,288
180,656
Tax effect of expenses that are not deductible in determining taxable profit
81,913
153,188
Adjustments in respect of prior years
-
0
29,643
Amortisation on assets not qualifying for tax allowances
29,505
25,308
Research and development tax credit
-
0
(61,475)
Deferred tax adjustments in respect of prior years
(834)
-
0
Enhanced capital allowances
(44,993)
(49,898)
Change in future tax rates
55,559
-
0
Taxation charge
213,438
277,422

In addition to the amount charged to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:

2023
2022
£
£
Deferred tax arising on:
Revaluation of plant and equipment
115,685
875,188

The effect of the change in corporation tax rate noted above reflects the fact that the deferred tax liability has been provided for at a rate of 25% as this is the rate which will be in effect in the future.

10
Dividends
2023
2022
Recognised as distributions to equity holders:
£
£
Dividends paid to shareholders of subsidiary
236,312
176,641
Dividends paid to shareholders of parent company
260,012
208,705
496,324
385,346
SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 27 -
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
1,552,902
Amortisation and impairment
At 1 April 2022
317,051
Amortisation charged for the year
155,290
At 31 March 2023
472,341
Carrying amount
At 31 March 2023
1,080,561
At 31 March 2022
1,235,851
The company had no intangible fixed assets at 31 March 2023 or 31 March 2022.

 

SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 28 -
12
Tangible fixed assets
Group
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2022
2,003,123
5,757,573
34,471
987,496
8,782,663
Additions
-
0
742,355
10,157
94,046
846,558
Disposals
(227,639)
-
0
(25,499)
(219,030)
(472,168)
Revaluation
-
0
(642,762)
-
0
-
0
(642,762)
At 31 March 2023
1,775,484
5,857,166
19,129
862,512
8,514,291
Depreciation and impairment
At 1 April 2022
234,944
450,126
9,277
332,460
1,026,807
Depreciation charged in the year
12,062
610,996
4,566
168,925
796,549
Eliminated in respect of disposals
(227,639)
-
0
(19,268)
(192,992)
(439,899)
At 31 March 2023
19,367
1,061,122
(5,425)
308,393
1,383,457
Carrying amount
At 31 March 2023
1,756,117
4,796,044
24,554
554,119
7,130,834
At 31 March 2022
1,768,179
5,307,447
25,194
655,036
7,755,856
The company had no tangible fixed assets at 31 March 2023 or 31 March 2022.

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2023
2022
2023
2022
£
£
£
£
Plant and equipment
1,535,841
379,352
-
0
-
0
Motor vehicles
212,691
327,077
-
0
-
0
Freehold property
135,684
138,606
-
-
1,884,216
845,035
-
-

 

The plant and equipment was revalued to fair value by the directors on 31st March 2023. If plant and equipment were measured using the cost model, the carrying amounts would have been approximately £701,194 (2022 - £281,259), being cost £2,913,922 (2022 - £2,289,222) and depreciation £2,212,728 (2022 - £281,259).

SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 29 -
13
Fixed asset investments
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
4,312,368
4,312,368
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 April 2022 and 31 March 2023
4,312,368
Carrying amount
At 31 March 2023
4,312,368
At 31 March 2022
4,312,368
14
Subsidiaries

Details of the company's subsidiaries at 31 March 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Skill Scaffolding Limited
England
Ordinary shares
80.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Skill Scaffolding Limited
5,345,658
885,171
SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 30 -
15
Debtors
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Trade debtors
151,811
1,074,555
-
0
-
0
Amounts recoverable on contracts
966,852
307,004
-
0
-
0
Other debtors
182,660
99,262
135,765
9
Prepayments and accrued income
115,181
59,627
-
0
-
0
1,416,504
1,540,448
135,765
9
16
Creditors: amounts falling due within one year
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans
18
142,598
392,504
-
0
-
0
Obligations under hire purchase agreements
19
343,530
213,403
-
0
-
0
Trade creditors
473,856
777,167
-
0
-
0
Payments received on account
157,110
-
0
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
310,642
84,136
Corporation tax payable
69,566
209,232
34,256
-
0
Other taxation and social security
147,578
290,139
24,000
-
Other creditors
981,949
796,295
475,000
265,100
Accruals and deferred income
84,263
71,591
5,000
2,501
2,400,450
2,750,331
848,898
351,737
17
Creditors: amounts falling due after more than one year
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans and overdrafts
18
537,989
681,544
-
0
-
0
Obligations under hire purchase agreements
19
456,115
273,985
-
0
-
0
Other creditors
2,131,864
2,399,830
2,131,864
2,399,830
3,125,968
3,355,359
2,131,864
2,399,830
SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 31 -
18
Loans and overdrafts
Group
Company
2023
2022
2023
2022
£
£
£
£
Bank loans
680,587
1,074,048
-
0
-
0
Payable within one year
142,598
392,504
-
0
-
0
Payable after one year
537,989
681,544
-
0
-
0

The long-term loans are secured by fixed charges over the assets to which they relate.

 

The mortgage included within bank loans is secured by way of a fixed charge over the freehold property of the company. The mortgage has a interest rate of base rate + 2% and is being repaid monthly.

 

Also included within bank loans is a Coronavirus Business Interruption Loan. This loan has a floating interest rate of base rate + 2.53% and is being repaid monthly.

19
Hire purchase obligations
Group
Company
2023
2022
2023
2022
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
343,530
213,403
-
0
-
0
In two to five years
456,115
273,985
-
0
-
0
799,645
487,388
-
-
SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 32 -
20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2023
2022
Group
£
£
Accelerated capital allowances
260,024
178,608
Revaluation on plant and equipment
990,873
875,188
Retirement benefit obligations
(28,528)
(25,703)
1,222,369
1,028,093
The company has no deferred tax assets or liabilities.
Group
Company
2023
2023
Movements in the year:
£
£
Liability at 1 April 2022
1,028,093
-
Charge to profit or loss
78,591
-
Charge to other comprehensive income
115,685
-
Liability at 31 March 2023
1,222,369
-
21
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
19,105
62,189

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 33 -
22
Share capital
Group and company
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
5
5
5
5
Ordinary B shares of £1 each
5
5
5
5
10
10
10
10
23
Related party transactions
Transactions with related parties

Mr A. Skilton maintains a loan account with the company. At the year-end, Mr A. Skilton owed the company £101,500 (2022 - £0).

24
Cash generated from group operations
2023
2022
£
£
Profit for the year after tax
272,289
673,401
Adjustments for:
Taxation charged
213,438
277,422
Finance costs
500,340
743,656
Investment income
(590)
(486)
(Gain)/loss on disposal of tangible fixed assets
(50,906)
9,080
Amortisation and impairment of intangible assets
155,290
133,199
Depreciation and impairment of tangible fixed assets
796,549
645,171
Increase in provisions
-
2,738,322
Movements in working capital:
Decrease/(increase) in debtors
136,093
(846,729)
Decrease in creditors
(358,402)
(2,517,912)
Cash generated from operations
1,664,101
1,855,124
SKILTON GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 34 -
25
Analysis of changes in net funds - group
1 April 2022
Cash flows
New hire purchase agreements
31 March 2023
£
£
£
£
Cash at bank and in hand
2,290,870
(472,222)
-
1,818,648
Borrowings excluding overdrafts
(1,074,048)
393,461
-
(680,587)
Obligations under hire purchase agreements
(487,388)
220,861
(533,118)
(799,645)
729,434
142,100
(533,118)
338,416
2023-03-312022-04-01falseCCH SoftwareCCH Accounts Production 2023.200Mr. A SkiltonMrs K L Winter272289125005642022-04-012023-03-3112500564bus:Director12022-04-012023-03-3112500564bus:Director22022-04-012023-03-3112500564bus:RegisteredOffice2022-04-012023-03-3112500564bus:Consolidated2023-03-31125005642023-03-3112500564bus:Consolidated2022-04-012023-03-3112500564bus:Consolidated2021-04-012022-03-31125005642021-04-012022-03-3112500564core:RevaluationReservebus:Consolidated2021-04-012022-03-3112500564core:RevenueReservesInvestmentFundsOnlybus:Consolidated2021-04-012022-03-3112500564core:RevaluationReservebus:Consolidated2022-04-012023-03-3112500564core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-04-012023-03-3112500564core:Goodwillbus:Consolidated2023-03-3112500564core:Goodwillbus:Consolidated2022-03-3112500564core:NetGoodwill2022-03-3112500564bus:Consolidated2022-03-3112500564core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-03-3112500564core:PlantMachinerybus:Consolidated2023-03-3112500564core:FurnitureFittingsbus:Consolidated2023-03-3112500564core:MotorVehiclesbus:Consolidated2023-03-3112500564core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-03-3112500564core:PlantMachinerybus:Consolidated2022-03-3112500564core:FurnitureFittingsbus:Consolidated2022-03-3112500564core:MotorVehiclesbus:Consolidated2022-03-3112500564core:ShareCapitalbus:Consolidated2023-03-3112500564core:ShareCapitalbus:Consolidated2022-03-3112500564core:SharePremiumbus:Consolidated2023-03-3112500564core:SharePremiumbus:Consolidated2022-03-3112500564core:RevaluationReservebus:Consolidated2023-03-3112500564core:RevaluationReservebus:Consolidated2022-03-3112500564core:ShareCapital2023-03-3112500564core:ShareCapital2022-03-3112500564core:SharePremium2023-03-3112500564core:SharePremium2022-03-3112500564core:RetainedEarningsAccumulatedLosses2023-03-3112500564core:ShareCapitalbus:Consolidated2021-03-3112500564core:SharePremiumbus:Consolidated2021-03-3112500564core:RetainedEarningsAccumulatedLossesbus:Consolidated2021-03-3112500564core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-03-3112500564core:Non-controllingInterestsbus:Consolidated2022-03-3112500564core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-03-3112500564core:Non-controllingInterestsbus:Consolidated2023-03-3112500564core:ShareCapital2021-03-3112500564core:SharePremium2021-03-3112500564core:RetainedEarningsAccumulatedLosses2021-03-3112500564core:RetainedEarningsAccumulatedLosses2022-03-31125005642022-03-3112500564bus:Consolidated2021-03-3112500564core:Goodwill2022-04-012023-03-3112500564core:LandBuildingscore:OwnedOrFreeholdAssets2022-04-012023-03-3112500564core:PlantMachinery2022-04-012023-03-3112500564core:FurnitureFittings2022-04-012023-03-3112500564core:MotorVehicles2022-04-012023-03-3112500564core:UKTaxbus:Consolidated2022-04-012023-03-3112500564core:UKTaxbus:Consolidated2021-04-012022-03-3112500564bus:Consolidated12022-04-012023-03-3112500564bus:Consolidated12021-04-012022-03-3112500564bus:Consolidated22022-04-012023-03-3112500564bus:Consolidated22021-04-012022-03-3112500564bus:Consolidated32022-04-012023-03-3112500564bus:Consolidated32021-04-012022-03-3112500564core:Goodwillbus:Consolidated2022-03-3112500564core:Goodwillbus:Consolidated2022-04-012023-03-3112500564core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-03-3112500564core:PlantMachinerybus:Consolidated2022-03-3112500564core:FurnitureFittingsbus:Consolidated2022-03-3112500564core:MotorVehiclesbus:Consolidated2022-03-3112500564bus:Consolidated2022-03-3112500564core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-04-012023-03-3112500564core:PlantMachinerybus:Consolidated2022-04-012023-03-3112500564core:FurnitureFittingsbus:Consolidated2022-04-012023-03-3112500564core:MotorVehiclesbus:Consolidated2022-04-012023-03-3112500564core:PlantMachinery2023-03-3112500564core:PlantMachinery2022-03-3112500564core:MotorVehicles2023-03-3112500564core:MotorVehicles2022-03-3112500564core:CurrentFinancialInstrumentsbus:Consolidated2023-03-3112500564core:CurrentFinancialInstrumentsbus:Consolidated2022-03-3112500564core:CurrentFinancialInstruments2023-03-3112500564core:CurrentFinancialInstruments2022-03-3112500564core:WithinOneYearbus:Consolidated2023-03-3112500564core:WithinOneYearbus:Consolidated2022-03-3112500564core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3112500564core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3112500564core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2023-03-3112500564core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2022-03-3112500564core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3112500564core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3112500564core:Non-currentFinancialInstrumentsbus:Consolidated2023-03-3112500564core:Non-currentFinancialInstrumentsbus:Consolidated2022-03-3112500564core:Non-currentFinancialInstruments2023-03-3112500564core:Non-currentFinancialInstruments2022-03-3112500564core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-03-3112500564core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2022-03-3112500564core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated12023-03-3112500564core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated12022-03-3112500564core:CurrentFinancialInstrumentscore:WithinOneYear22023-03-3112500564core:CurrentFinancialInstrumentscore:WithinOneYear22022-03-3112500564core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated32023-03-3112500564core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated32022-03-3112500564core:Non-currentFinancialInstrumentscore:AfterOneYear42023-03-3112500564core:Non-currentFinancialInstrumentscore:AfterOneYear42022-03-3112500564core:WithinOneYear2023-03-3112500564core:WithinOneYear2022-03-3112500564core:BetweenTwoFiveYearsbus:Consolidated2023-03-3112500564core:BetweenTwoFiveYearsbus:Consolidated2022-03-3112500564core:BetweenTwoFiveYears2023-03-3112500564core:BetweenTwoFiveYears2022-03-3112500564bus:PrivateLimitedCompanyLtd2022-04-012023-03-3112500564bus:FRS1022022-04-012023-03-3112500564bus:Audited2022-04-012023-03-3112500564bus:ConsolidatedGroupCompanyAccounts2022-04-012023-03-3112500564bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP