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REGISTERED NUMBER: 04264434 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 November 2022

for

Dura Beds Ltd

Dura Beds Ltd (Registered number: 04264434)






Contents of the Financial Statements
for the Year Ended 30 November 2022




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Dura Beds Ltd

Company Information
for the Year Ended 30 November 2022







DIRECTORS: I Khan
I Akhtar
M Ishaq
T Mahmood





REGISTERED OFFICE: Kelvin Business Park
Grange Road
Batley
West Yorkshire
WF17 6PB





REGISTERED NUMBER: 04264434 (England and Wales)





AUDITORS: Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

Dura Beds Ltd (Registered number: 04264434)

Strategic Report
for the Year Ended 30 November 2022

The Directors present their strategic report for the year ended 30th November 2022.

REVIEW OF BUSINESS
The results for the year and financial position of the Company are shown in the following detailed accounts. The Company's principal activity continued to be the manufacture of beds

The Company recorded a profit before tax of £121,913 (2021 - £301,683).

PRINCIPAL RISKS AND UNCERTAINTIES
The Company operates in a highly competitive market and there are new products and technologies emerging in the market continually.

Management continue to monitor risks relevant to their market on an ongoing basis, by keeping abreast of competitor developments, in order to maintain their reputation for being innovative.

The Company regularly monitors it's product range compared to its competitors, and also monitors key performance indicators including staff costs to sales ratio as the business is labour intensive.

KEY PERFORMANCE INDICATORS
The key performance indicators include monitoring sales and gross profit margins on a product by product basis, as well as overall. Further key performance indicators include staff costs to sales ratios and labour retention.

2022 2021
Turnover £12,892,758 £12,542,243
Gross Profit Margin 36.77% 32.73%
Net Profit Margin 0.95% 2.34%
Staff Costs to Sales 20.52% 28.16%

FUTURE DEVELOPMENT
In order to remain competitive, profits will be invested into staff to ensure that they are able to respond to advances in the market and customer demand.

ON BEHALF OF THE BOARD:





I Akhtar - Director


20 October 2023

Dura Beds Ltd (Registered number: 04264434)

Report of the Directors
for the Year Ended 30 November 2022

The directors present their report with the financial statements of the company for the year ended 30 November 2022.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of manufacture of mattresses.

DIVIDENDS
The total distribution of dividends for the year ended 30 November 2022 will be £ 393,600 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2021 to the date of this report.

I Khan
I Akhtar
M Ishaq
T Mahmood

STATEMENT OF DIRECTORS' RESPONSIBILITIES
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.

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:

-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.

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.

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Dura Beds Ltd (Registered number: 04264434)

Report of the Directors
for the Year Ended 30 November 2022


AUDITORS
The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





I Akhtar - Director


20 October 2023

Report of the Independent Auditors to the Members of
Dura Beds Ltd

Opinion
We have audited the financial statements of Dura Beds Ltd (the 'company') for the year ended 30 November 2022 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 November 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.

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.

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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information
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.

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.

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.

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.

Report of the Independent Auditors to the Members of
Dura Beds Ltd


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.

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.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities 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.

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.

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.

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

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the company engagement team included:

- 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 override of controls or other inappropriate influence over the financial reporting process;
- Reviewing financial statements disclosures and testing to supporting documentation to assess compliance with applicable law and regulations;
- Challenging assumptions and judgements made by management in its significant accounting estimates, in particular:
- Identifying and testing journal entries, in particularly any journal entries posted with unusual account combinations.

Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls

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
Dura Beds Ltd


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.




Michael Forshaw (Senior Statutory Auditor)
for and on behalf of Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

20 October 2023

Dura Beds Ltd (Registered number: 04264434)

Statement of Comprehensive Income
for the Year Ended 30 November 2022

30.11.22 30.11.21
Notes £ £ £ £

TURNOVER 12,892,758 12,542,243

Cost of sales 8,151,717 8,429,427
GROSS PROFIT 4,741,041 4,112,816

Distribution costs 2,609,061 2,376,813
Administrative expenses 2,012,364 1,760,146
4,621,425 4,136,959
119,616 (24,143 )

Other operating income - 325,659
OPERATING PROFIT 4 119,616 301,516

Interest receivable and similar income 2,297 167
PROFIT BEFORE TAXATION 121,913 301,683

Tax on profit 5 29,726 66,264
PROFIT FOR THE FINANCIAL YEAR 92,187 235,419

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

92,187

235,419

Dura Beds Ltd (Registered number: 04264434)

Balance Sheet
30 November 2022

30.11.22 30.11.21
Notes £ £ £ £
FIXED ASSETS
Tangible assets 7 760,690 872,132

CURRENT ASSETS
Stocks 8 1,236,940 828,134
Debtors 9 1,550,005 1,526,411
Cash at bank and in hand 1,220,913 2,418,080
4,007,858 4,772,625
CREDITORS
Amounts falling due within one year 10 2,032,369 2,598,956
NET CURRENT ASSETS 1,975,489 2,173,669
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,736,179

3,045,801

PROVISIONS FOR LIABILITIES 11 28,073 36,282
NET ASSETS 2,708,106 3,009,519

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 2,708,006 3,009,419
SHAREHOLDERS' FUNDS 2,708,106 3,009,519

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by:




I Akhtar - Director



I Khan - Director


Dura Beds Ltd (Registered number: 04264434)

Statement of Changes in Equity
for the Year Ended 30 November 2022

Called up
share Retained Total
capital earnings equity
£ £ £

Balance at 1 December 2020 100 3,193,410 3,193,510

Changes in equity
Dividends - (419,410 ) (419,410 )
Total comprehensive income - 235,419 235,419
Balance at 30 November 2021 100 3,009,419 3,009,519

Changes in equity
Dividends - (393,600 ) (393,600 )
Total comprehensive income - 92,187 92,187
Balance at 30 November 2022 100 2,708,006 2,708,106

Dura Beds Ltd (Registered number: 04264434)

Cash Flow Statement
for the Year Ended 30 November 2022

30.11.22 30.11.21
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 (733,509 ) 860,807
Tax paid (14,971 ) -
Net cash from operating activities (748,480 ) 860,807

Cash flows from investing activities
Purchase of tangible fixed assets (57,384 ) (48,912 )
Interest received 2,297 167
Net cash from investing activities (55,087 ) (48,745 )

Cash flows from financing activities
Equity dividends paid (393,600 ) (419,410 )
Net cash from financing activities (393,600 ) (419,410 )

(Decrease)/increase in cash and cash equivalents (1,197,167 ) 392,652
Cash and cash equivalents at beginning of
year

2

2,418,080

2,025,428

Cash and cash equivalents at end of year 2 1,220,913 2,418,080

Dura Beds Ltd (Registered number: 04264434)

Notes to the Cash Flow Statement
for the Year Ended 30 November 2022

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
30.11.22 30.11.21
£ £
Profit before taxation 121,913 301,683
Depreciation charges 168,826 193,781
Finance income (2,297 ) (167 )
288,442 495,297
Increase in stocks (408,806 ) (333,565 )
Increase in trade and other debtors (23,594 ) (155,066 )
(Decrease)/increase in trade and other creditors (589,551 ) 854,141
Cash generated from operations (733,509 ) 860,807

2. 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 30 November 2022
30.11.22 1.12.21
£ £
Cash and cash equivalents 1,220,913 2,418,080
Year ended 30 November 2021
30.11.21 1.12.20
£ £
Cash and cash equivalents 2,418,080 2,025,428


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.21 Cash flow At 30.11.22
£ £ £
Net cash
Cash at bank and in hand 2,418,080 (1,197,167 ) 1,220,913
2,418,080 (1,197,167 ) 1,220,913
Total 2,418,080 (1,197,167 ) 1,220,913

Dura Beds Ltd (Registered number: 04264434)

Notes to the Financial Statements
for the Year Ended 30 November 2022

1. STATUTORY INFORMATION

Dura Beds Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company'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 my 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.

There are no critical judgements, estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 25% reducing balance
Improvements to property - 10% on cost
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans from related parties and investments in non-puttable ordinary shares.

Debtors, creditors, loans to/from third parties (being repayable on demand) are measured at the undiscounted amount of cash or other consideration expected to be paid.

Dura Beds Ltd (Registered number: 04264434)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS
30.11.22 30.11.21
£ £
Wages and salaries 2,463,454 2,262,680
Social security costs 181,926 148,969
2,645,380 2,411,649

Dura Beds Ltd (Registered number: 04264434)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
30.11.22 30.11.21

Administration 13 13
Manufacturing 152 152
Sales 6 6
171 171

The directors are considered to be key management personnel for both the current year and the prior year.

30.11.22 30.11.21
£ £
Directors' remuneration 33,995 31,743

4. OPERATING PROFIT

The operating profit is stated after charging:

30.11.22 30.11.21
£ £
Depreciation - owned assets 168,826 193,780
Auditors' remuneration 7,000 7,000
Government grants - Furlough - 325,659

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.11.22 30.11.21
£ £
Current tax:
UK corporation tax 37,935 77,339

Deferred tax (8,209 ) (11,075 )
Tax on profit 29,726 66,264

Dura Beds Ltd (Registered number: 04264434)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

5. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.11.22 30.11.21
£ £
Profit before tax 121,913 301,683
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2021 - 19%)

23,163

57,320

Effects of:
Depreciation in excess of capital allowances 20,104 20,019
Utilisation of tax losses (5,332 ) -
Deferred tax movement (8,209 ) (11,075 )
Total tax charge 29,726 66,264

6. DIVIDENDS
30.11.22 30.11.21
£ £
Final 393,600 419,410

7. TANGIBLE FIXED ASSETS
Long Improvements Plant and Motor
leasehold to property machinery vehicles Totals
£ £ £ £ £
COST
At 1 December 2021 41,106 587,586 1,909,549 1,326,857 3,865,098
Additions - - 20,861 36,523 57,384
At 30 November 2022 41,106 587,586 1,930,410 1,363,380 3,922,482
DEPRECIATION
At 1 December 2021 41,106 163,903 1,658,542 1,129,415 2,992,966
Charge for year - 42,368 67,967 58,491 168,826
At 30 November 2022 41,106 206,271 1,726,509 1,187,906 3,161,792
NET BOOK VALUE
At 30 November 2022 - 381,315 203,901 175,474 760,690
At 30 November 2021 - 423,683 251,007 197,442 872,132


8. STOCKS
30.11.22 30.11.21
£ £
Raw materials & goods
for resale 1,236,940 828,134

Dura Beds Ltd (Registered number: 04264434)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£ £
Trade debtors 1,330,005 1,306,411
Other debtors 220,000 220,000
1,550,005 1,526,411

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£ £
Trade creditors 1,283,204 1,905,026
Tax 561,431 538,467
Social security and other taxes 64,497 12,076
VAT 98,237 118,387
Other creditors 15,000 15,000
Directors' loan accounts 10,000 10,000
2,032,369 2,598,956

11. PROVISIONS FOR LIABILITIES
30.11.22 30.11.21
£ £
Deferred tax 28,073 36,282

Deferred tax
£
Balance at 1 December 2021 36,282
Credit to Statement of Comprehensive Income during year (8,209 )
Balance at 30 November 2022 28,073

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.22 30.11.21
value: £ £
100 Ordinary £1 100 100

The company's ordinary shares, which carry no right to fixed income, each carry the right to one vote at general meetings of the company.

13. RESERVES

Retained earnings includes all current and previous periods retained profits and losses.

14. RELATED PARTY DISCLOSURES

The company paid rents totalling £225,000 (2021 - £225,000) to Ikia Properties, a partnership owned by Mr I Khan and Mr I Akhtar, both directors and shareholders of Dura Beds Ltd.

Dura Beds Ltd (Registered number: 04264434)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

15. ULTIMATE CONTROLLING PARTY

The company is controlled by the Directors, who together own the entire share capital.