Company registration number NI009960 (Northern Ireland)
CCL INTERIORS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
CCL INTERIORS LIMITED
COMPANY INFORMATION
Directors
Mr S Montgomery
Mr A Montgomery
Company number
NI009960
Registered office
Unit 16
Pilots View
Heron Road
Belfast
BT3 9LE
Auditor
GMcG LISBURN
Century House
40 Crescent Business Park
Lisburn
BT28 2GN
Business address
Unit 16
Pilots View
Heron Road
Belfast
BT3 9LE
Bankers
Danske Bank
Donegall Square West
Belfast
BT1 6JS
CCL INTERIORS LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 9
Statement of comprehensive income
10
Statement of financial position
11
Statement of changes in equity
12
Statement of cash flows
13
Notes to the financial statements
14 - 30
CCL INTERIORS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2023
- 1 -

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

Review of the business

The directors aim to present a balanced and comprehensive review of the development and performance during the period and its position as at 31 January 2023. The directors' review is consistent with the size and nature of the business and is written in the context of the risks and uncertainties the company faces

 

Turnover is considered by the directors to be the key performance indicator and the most effective measure to evaluate the performance of the business. Whilst turnover has decreased by 13.8% from £20,038,494 in 2022 to £17,257,372 in 2023, gross profit generated has increased to £3,358,700 (2022 - £1,084,621) at a gross profit margin of 19.46% (2022 - 5.41%). The results for the year reflect the measures which the Directors have put in place to manage supplier increases, which had a significant detrimental affect on results in year ended 31 January 2022.

Principal risks and uncertainties

The directors consider that the principal risks and uncertainties facing the company are:

 

Economic Risk

The impact on long-term contractual commitments of:

1. Rises in interest rates and inflation increases;

2. Wage inflation and increases in supplier and sub-contractor costs;

3. Legislative change relating to utility charges, including property rates; and

4. Falls in demand for residential and commercial property.

 

The directors work closely with suppliers, customers and financial institutions to carefully manage these risks, inherent in the company's business, in these uncertain times.

 

Competition Risk

Competition risk is managed through close attention to product quality, customer service and sustainable markets.

 

Financial Risk

Given the level of bank borrowings in place the company is exposed to risks in relation to interest rates, liquidity and cashflow. The company manages interest payments, liquidity and cashflows by budgetary and financial reporting functions and by seeking to develop a close working relationship with its bankers.

On behalf of the board

Mr S Montgomery
Director
27 October 2023
CCL INTERIORS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2023
- 2 -

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

Principal activities

The principal activity of the company continued to be that of interior fit-out solutions and construction services.

Results and dividends

The results for the year are set out on page 10.

Ordinary dividends were paid amounting to £183,000. 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 S Montgomery
Mr A Montgomery
Auditor

The auditor, GMcG LISBURN, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

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 company and of the profit or loss of the company 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 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.

CCL INTERIORS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
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 company’s auditor 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 company’s auditor is aware of that information.

On behalf of the board
Mr S Montgomery
Director
27 October 2023
CCL INTERIORS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CCL INTERIORS LIMITED
- 4 -
Opinion

We have audited the financial statements of CCL Interiors Limited (the 'company') for the year ended 31 January 2023 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the 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 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.

CCL INTERIORS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CCL INTERIORS LIMITED
- 5 -

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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

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:

CCL INTERIORS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CCL INTERIORS LIMITED
- 6 -
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 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.

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.

CCL INTERIORS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CCL INTERIORS LIMITED
- 7 -
Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non-compliances with laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud in revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.

CCL INTERIORS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CCL INTERIORS LIMITED
- 8 -
Audit reponse to risks identified

Our procedures to respond to the risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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. In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. 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/auditorsresponsibilities. This description forms part of our auditor's report.

CCL INTERIORS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CCL INTERIORS LIMITED
- 9 -

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 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.

Mrs Susan Dunlop FCA
Senior Statutory Auditor
For and on behalf of GMcG LISBURN
27 October 2023
Chartered Accountants
Statutory Auditor
Century House
40 Crescent Business Park
Lisburn
BT28 2GN
CCL INTERIORS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2023
- 10 -
2023
2022
Notes
£
£
Turnover
3
17,257,373
20,038,494
Cost of sales
(13,898,673)
(18,953,873)
Gross profit
3,358,700
1,084,621
Distribution costs
(254,857)
(194,620)
Administrative expenses
(1,745,979)
(1,755,852)
Other operating income
4
39,750
88,441
Operating profit/(loss)
5
1,397,614
(777,410)
Interest receivable and similar income
8
1,248
49
Interest payable and similar expenses
9
(132,932)
(60,543)
Profit/(loss) before taxation
1,265,930
(837,904)
Tax on profit/(loss)
10
(147,261)
141,088
Profit/(loss) for the financial year
1,118,669
(696,816)

The income statement has been prepared on the basis that all operations are continuing operations.

CCL INTERIORS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023
31 January 2023
- 11 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
12
275,011
229,058
Investments
13
366
398
275,377
229,456
Current assets
Stocks
15
196,794
77,122
Debtors
16
6,702,162
6,622,934
Cash at bank and in hand
137,499
259,699
7,036,455
6,959,755
Creditors: amounts falling due within one year
17
(4,102,982)
(4,749,767)
Net current assets
2,933,473
2,209,988
Total assets less current liabilities
3,208,850
2,439,444
Creditors: amounts falling due after more than one year
18
(828,067)
(1,051,460)
Provisions for liabilities
Deferred tax liability
21
57,130
-
0
(57,130)
-
Net assets
2,323,653
1,387,984
Capital and reserves
Called up share capital
23
5,098
5,098
Profit and loss reserves
2,318,555
1,382,886
Total equity
2,323,653
1,387,984

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.true

The financial statements were approved by the board of directors and authorised for issue on 27 October 2023 and are signed on its behalf by:
Mr S Montgomery
Mr A Montgomery
Director
Director
Company registration number NI009960 (Northern Ireland)
CCL INTERIORS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2023
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 February 2021
5,098
2,205,702
2,210,800
Year ended 31 January 2022:
Loss and total comprehensive income
-
(696,816)
(696,816)
Dividends
11
-
(126,000)
(126,000)
Balance at 31 January 2022
5,098
1,382,886
1,387,984
Year ended 31 January 2023:
Profit and total comprehensive income
-
1,118,669
1,118,669
Dividends
11
-
(183,000)
(183,000)
Balance at 31 January 2023
5,098
2,318,555
2,323,653
CCL INTERIORS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2023
- 13 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
28
369,262
(622,104)
Interest paid
(132,932)
(60,543)
Income taxes refunded/(paid)
164,468
(231,792)
Net cash inflow/(outflow) from operating activities
400,798
(914,439)
Investing activities
Purchase of tangible fixed assets
(13,327)
(10,236)
Proceeds from disposal of tangible fixed assets
250
-
0
Movement in other loans
-
124,827
Interest received
1,248
49
Net cash (used in)/generated from investing activities
(11,829)
114,640
Financing activities
Repayment of bank loans
(248,924)
(249,811)
Payment of finance leases obligations
(35,643)
(9,151)
Dividends paid
(183,000)
(126,000)
Net cash used in financing activities
(467,567)
(384,962)
Net decrease in cash and cash equivalents
(78,598)
(1,184,761)
Cash and cash equivalents at beginning of year
83,087
1,267,848
Cash and cash equivalents at end of year
4,489
83,087
Relating to:
Cash at bank and in hand
137,499
259,699
Bank overdrafts included in creditors payable within one year
(133,010)
(176,612)
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 14 -
1
Accounting policies
Company information

CCL Interiors Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is Unit 16, Pilots View, Heron Road, Belfast, BT3 9LE.

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. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 405 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the companies subsidiary undertakings are dormant and not material. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company 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.

1.3
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 the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

1.4
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:

Plant and equipment
10% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies (Continued)
- 15 -

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 credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

 

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

 

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies (Continued)
- 16 -
1.8
Cash at bank and in hand

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.

1.9
Financial instruments

The company 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 company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 company after deducting all of its liabilities.

CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies (Continued)
- 17 -
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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
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 income statement 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 company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies (Continued)
- 18 -
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 income statement, 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 when the company has 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.

1.11
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.

1.12
Retirement benefits

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

1.13
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 statement of financial position 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 leases asset are consumed.

1.14
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.

CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies (Continued)
- 19 -
1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
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 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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Fixed assets

The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The directors regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful lives is included in the accounting policies.

Taxation

Judgements are made in relation to the calculation of certain aspects of the year end tax provisions and the respective tax charge. The management used external professional advice to support the year end provisions.

Debtors and amounts recoverable on contracts

Short term debtors are measured at transaction price less any impairment. Impairment of such debtors involves some estimation uncertainty.

 

There is some estimation uncertainty in relation to assumptions surrounding the stage of completion of contracts and costs to complete. Management are satisfied they have appropriate processes and controls in place to manage these uncertainties.

3
Turnover
2023
2022
£
£
Turnover analysed by class of business
Sales
17,257,373
20,038,494
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
3
Turnover (Continued)
- 20 -
2023
2022
£
£
Turnover analysed by geographical market
United Kingdom
16,917,478
19,980,224
Republic of Ireland
339,895
58,270
17,257,373
20,038,494
4
Other income
2023
2022
£
£
Grants receivable
32,150
72,365
Coronavirus job retention scheme income
-
15,745
Other income
7,600
331
39,750
88,441
5
Operating profit/(loss)
2023
2022
Operating profit/(loss) for the year is stated after charging/(crediting):
£
£
Exchange (gains)/losses
(3,803)
3,402
Government grants
(32,150)
(88,110)
Fees payable to the company's auditor for the audit of the company's financial statements
15,000
15,500
Depreciation of owned tangible fixed assets
11,522
12,998
Depreciation of tangible fixed assets held under finance leases
42,194
20,781
Loss on disposal of tangible fixed assets
617
492
Profit on disposal of investment property
-
0
(34,415)
Operating lease charges
106,730
118,470
6
Employees

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

2023
2022
Number
Number
Management
2
2
Administrative
24
20
Production
60
35
Total
86
57
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
6
Employees (Continued)
- 21 -

Their aggregate remuneration comprised:

2023
2022
£
£
Wages and salaries
3,026,758
2,379,294
Social security costs
273,555
196,974
Pension costs
65,464
52,186
3,365,777
2,628,454
7
Directors' remuneration
2023
2022
£
£
Remuneration for qualifying services
193,064
183,793
Company pension contributions to defined contribution schemes
23,655
18,346
216,719
202,139

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2022 - 2).

8
Interest receivable and similar income
2023
2022
£
£
Interest income
Interest on bank deposits
-
0
49
Other interest income
1,248
-
0
Total income
1,248
49
2023
2022
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
1,248
49
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 22 -
9
Interest payable and similar expenses
2023
2022
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
64,791
31,216
Other finance costs:
Interest on finance leases and hire purchase contracts
8,180
2,465
Other interest
59,961
26,862
132,932
60,543
10
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
65,588
-
0
Adjustments in respect of prior periods
24,543
(80,921)
Double tax relief
(161)
-
0
Total UK current tax
89,970
(80,921)
Foreign current tax on profits for the current period
161
4,438
Adjustments in foreign tax in respect of prior periods
-
0
(48,299)
Total current tax
90,131
(124,782)
Deferred tax
Origination and reversal of timing differences
57,130
(16,306)
Total tax charge/(credit)
147,261
(141,088)
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
10
Taxation (Continued)
- 23 -

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

2023
2022
£
£
Profit/(loss) before taxation
1,265,930
(837,904)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 19.00% (2022: 19.00%)
240,527
(159,202)
Tax effect of expenses that are not deductible in determining taxable profit
18,387
9,558
Tax effect of income not taxable in determining taxable profit
-
0
(6,455)
Unutilised tax losses carried forward
-
0
184,882
Adjustments in respect of prior years
24,543
(129,220)
Permanent capital allowances in excess of depreciation
(10,320)
(28,783)
Origination and reversal of timing differences
55,482
(16,306)
Foreign Tax not relievable for double tax relief
3,524
4,438
Tax losses bfwd utilised
(184,882)
-
0
Taxation charge/(credit) for the year
147,261
(141,088)
11
Dividends
2023
2022
£
£
Final paid
183,000
126,000
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 24 -
12
Tangible fixed assets
Plant and equipment
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2022
48,858
91,696
240,338
380,892
Additions
7,332
-
0
93,204
100,536
Disposals
-
0
-
0
(12,995)
(12,995)
At 31 January 2023
56,190
91,696
320,547
468,433
Depreciation and impairment
At 1 February 2022
16,992
48,785
86,057
151,834
Depreciation charged in the year
3,420
6,437
43,859
53,716
Eliminated in respect of disposals
-
0
-
0
(12,128)
(12,128)
At 31 January 2023
20,412
55,222
117,788
193,422
Carrying amount
At 31 January 2023
35,778
36,474
202,759
275,011
At 31 January 2022
31,866
42,911
154,281
229,058

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

2023
2022
£
£
Motor vehicles
199,987
145,469
13
Fixed asset investments
2023
2022
Notes
£
£
Investments in subsidiaries
14
366
398
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
13
Fixed asset investments (Continued)
- 25 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 February 2022
398
Additions
3
Disposals
(35)
At 31 January 2023
366
Carrying amount
At 31 January 2023
366
At 31 January 2022
398
14
Subsidiaries

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

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
CCL Fitout Limited
Northern Ireland
Dormant
Ordinary
100.00
CCL Interiors (Scotland) Limited
Scotland
Dormant
Ordinary
90.00
CCL Fire Protection Limited
Northern Ireland
Dormant
Ordinary
75.00
CCL Joinery Limited
Northern Ireland
Dormant
Ordinary
100.00
CCL Training and Innovation Centre Limited
Scotland
Dormant
Ordinary
100.00
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)
£
£
CCL Fitout Limited
2
(13)
CCL Interiors (Scotland) Limited
100
(13)
CCL Fire Protection Limited
100
(13)
CCL Joinery Limited
100
(13)
CCL Training and Innovation Centre Limited
99
(13)
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 26 -
15
Stocks
2023
2022
£
£
Raw materials and consumables
57,224
42,540
Work in progress
139,570
34,582
196,794
77,122
16
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,292,547
1,255,604
Corporation tax recoverable
-
0
223,811
Amounts recoverable on contracts
3,816,722
3,655,879
Other debtors
1,010,762
943,847
Prepayments and accrued income
582,131
543,793
6,702,162
6,622,934
17
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Bank loans and overdrafts
19
397,075
431,449
Obligations under finance leases
20
44,262
27,455
Trade creditors
2,825,364
2,475,449
Amounts owed to group undertakings
1
229
Corporation tax
30,788
-
0
Other taxation and social security
426,962
1,251,223
Other creditors
38,426
54,928
Accruals and deferred income
340,104
509,034
4,102,982
4,749,767
18
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
19
663,664
921,816
Obligations under finance leases
20
164,403
129,644
828,067
1,051,460
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 27 -
19
Loans and overdrafts
2023
2022
£
£
Bank loans
927,729
1,176,653
Bank overdrafts
133,010
176,612
1,060,739
1,353,265
Payable within one year
397,075
431,449
Payable after one year
663,664
921,816

The bank facilities are secured by a debenture over the assets and undertakings of the company, together with personal guarantees provided by the directors and a gaurantee given by the Department for Business Energy Industrial Strategy.

20
Finance lease obligations
2023
2022
Future minimum lease payments due under finance leases:
£
£
Within one year
44,262
27,455
In two to five years
164,403
129,644
208,665
157,099

Finance lease payments represent rentals payable by the company for certain items of motor vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

21
Deferred taxation

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

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
57,130
-
2023
Movements in the year:
£
Liability at 1 February 2022
-
Charge to profit or loss
57,130
Liability at 31 January 2023
57,130
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
21
Deferred taxation (Continued)
- 28 -

At the balance sheet date there exists a deferred tax asset of £NIL (2022 - £243,266) corporation tax rate of 25%. The deferred tax asset arises primarily in respect of tax losses. In accordance with FRS 102 and the accounting policies this asset has not been recognised.

22
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
65,464
52,186

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

23
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
5,098
5,098
5,098
5,098
24
Financial commitments, guarantees and contingent liabilities

CCL Interiors Limited has provided a cross company guarantee for £59,500 in favour of Montgomery Holdings, a partnership between Mr A Montgomery and Mr S Montgomery.

 

The company has also provided security for total exposure to Danske Bank as a floating charge in favour of S & J Property Developments Ltd, of which Mr S Montgomery is a director and shareholder.

25
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2023
2022
£
£
Within one year
87,970
97,481
Between two and five years
244,408
257,166
In over five years
297,916
352,916
630,294
707,563
CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 29 -
26
Related party transactions
Transactions with related parties

 

Shandrill Developments Limited

Shandrill Developments Limited is a company incorporated in Northern Ireland, in which Mr A Montgomery and Mr S Montgomery are directors. At the year end Shandrill Developments Limited owed the company £409,080 (2022 - £345,101), net of a bad debt provision of £300,000 (2022 - £300,000).

 

Red Brick Properties Ltd

Red Brick Properties Ltd is a company incorporated in Northern Ireland, in which Mr A Montgomery and Mr S Montgomery are directors. At the year end Red Brick Properties Ltd owed the company £45,494 (2022 - £91,383).

 

C&S (Glasgow) Limited

C&S (Glasgow) Limited is a company incorporated in Northern Ireland, in which Mr A Montgomery and Mr S Montgomery are directors. At the year end C&S (Glasgow) Limited owed the company £197,460 (2022 - £197,460).

 

S & J Property Developments Ltd

CCL Interiors Limited has provided security for total exposure to Danske Bank as a floating charge in favour of S & J Property Developments Ltd, of which Mr S Montgomery is a director and shareholder.

 

AMF Construction Solutions limited

AMF Construction Solutions Limited is a company incorporated in Northern Ireland, in which Mr S Montgomery is a Director. At the year end AMF Construction Solutions Limited owed the company £460 (2022 - £Nil).

 

27
Directors' transactions

Dividends totalling £183,000 (2022 - £126,000) were paid in the year in respect of shares held by the company's directors.

The directors of the company Mr A Montgomery and Mr S Montgomery have provided personal guarantees of £150,000 each in relation to the company's bank facilities.

 

Montgomery Holdings

Montgomery Holdings is a partnership between Mr A Montgomery and Mr S Montgomery. During the year rent of £55,000 (2022 - £55,042) was payable to Montgomery Holdings. At 31 January 2023 an amount of £42,816 (2022 - £36,288) was due from the partnership.

 

CCL Interiors Limited has provided a cross company guarantee in favour of Montgomery Holdings.

CCL INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 30 -
28
Cash generated from/(absorbed by) operations
2023
2022
£
£
Profit/(loss) for the year after tax
1,118,669
(696,816)
Adjustments for:
Taxation charged/(credited)
147,261
(141,088)
Finance costs
132,932
60,543
Investment income
(1,248)
(49)
Loss on disposal of tangible fixed assets
617
492
Gain on disposal of investment property
-
0
(34,415)
Depreciation and impairment of tangible fixed assets
53,716
33,779
Movements in working capital:
(Increase)/decrease in stocks
(119,672)
119,605
Increase in debtors
(303,039)
(950,106)
(Decrease)/increase in creditors
(659,974)
985,951
Cash generated from/(absorbed by) operations
369,262
(622,104)
29
Analysis of changes in net debt
1 February 2022
Cash flows
New finance leases
31 January 2023
£
£
£
£
Cash at bank and in hand
259,699
(122,200)
-
137,499
Bank overdrafts
(176,612)
43,602
-
(133,010)
83,087
(78,598)
-
0
4,489
Borrowings excluding overdrafts
(1,176,653)
248,924
-
(927,729)
Obligations under finance leases
(157,099)
35,643
(87,209)
(208,665)
(1,250,665)
205,969
(87,209)
(1,131,905)
2023-01-312022-02-01falseCCH SoftwareCCH Accounts Production 2023.200Mr S MontgomeryMr A Montgomery1118669NI0099602022-02-012023-01-31NI009960bus:Director12022-02-012023-01-31NI009960bus:Director22022-02-012023-01-31NI009960bus:RegisteredOffice2022-02-012023-01-31NI009960bus:Agent12022-02-012023-01-31NI0099602023-01-31NI0099602021-02-012022-01-31NI009960core:RetainedEarningsAccumulatedLosses2021-02-012022-01-31NI009960core:RetainedEarningsAccumulatedLosses2022-02-012023-01-31NI0099602022-01-31NI009960core:PlantMachinery2023-01-31NI009960core:FurnitureFittings2023-01-31NI009960core:MotorVehicles2023-01-31NI009960core:PlantMachinery2022-01-31NI009960core:FurnitureFittings2022-01-31NI009960core:MotorVehicles2022-01-31NI009960core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-31NI009960core:CurrentFinancialInstrumentscore:WithinOneYear2022-01-31NI009960core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-31NI009960core:Non-currentFinancialInstrumentscore:AfterOneYear2022-01-31NI009960core:CurrentFinancialInstruments2023-01-31NI009960core:CurrentFinancialInstruments2022-01-31NI009960core:Non-currentFinancialInstruments2023-01-31NI009960core:Non-currentFinancialInstruments2022-01-31NI009960core:ShareCapital2023-01-31NI009960core:ShareCapital2022-01-31NI009960core:RetainedEarningsAccumulatedLosses2023-01-31NI009960core:RetainedEarningsAccumulatedLosses2022-01-31NI009960core:ShareCapital2021-01-31NI009960core:RetainedEarningsAccumulatedLosses2021-01-31NI00996012022-02-012023-01-31NI00996012021-02-012022-01-31NI0099602022-01-31NI0099602021-01-31NI009960core:WithinOneYear2023-01-31NI009960core:WithinOneYear2022-01-31NI009960core:PlantMachinery2022-02-012023-01-31NI009960core:FurnitureFittings2022-02-012023-01-31NI009960core:MotorVehicles2022-02-012023-01-31NI009960core:UKTax2022-02-012023-01-31NI009960core:UKTax2021-02-012022-01-31NI009960core:ForeignTax2022-02-012023-01-31NI009960core:ForeignTax2021-02-012022-01-31NI00996022022-02-012023-01-31NI00996022021-02-012022-01-31NI00996032022-02-012023-01-31NI00996032021-02-012022-01-31NI009960core:PlantMachinery2022-01-31NI009960core:FurnitureFittings2022-01-31NI009960core:MotorVehicles2022-01-31NI009960core:BetweenTwoFiveYears2023-01-31NI009960core:BetweenTwoFiveYears2022-01-31NI009960core:MoreThanFiveYears2023-01-31NI009960core:MoreThanFiveYears2022-01-31NI009960bus:OrdinaryShareClass12021-02-012022-01-31NI009960bus:PrivateLimitedCompanyLtd2022-02-012023-01-31NI009960bus:FRS1022022-02-012023-01-31NI009960bus:Audited2022-02-012023-01-31NI009960bus:FullAccounts2022-02-012023-01-31xbrli:purexbrli:sharesiso4217:GBP