REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
JOHN LISCOMBE LIMITED |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
JOHN LISCOMBE LIMITED |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Income Statement | 9 |
Balance Sheet | 11 |
Statement of Changes in Equity | 12 |
Notes to the Financial Statements | 13 |
JOHN LISCOMBE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
18 Gold Tops |
Newport |
South Wales |
NP20 5WJ |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 31 MARCH 2023 |
The directors present their strategic report for the year ended 31 March 2023. |
REVIEW OF BUSINESS |
The principal activity of the company up to 1 November 2022 was the supply of Personal Protective Equipment (PPE). |
During the 7 months ended 31 October 2022, trading and sales turnover remained broadly steady with continued investment in our IT and customer service provision, despite an uncertain economic background. On 1 November 2022 the trade and net assets of the business were sold to a fellow subsidiary of the RS Group for consideration of £8.5m. Following, the transfer the company then became dormant. |
The key financial and other performance indicators of the company during the year ended 31st March 2023, were as follows: |
2023 | 2022 | Change |
£ | £ | % |
Turnover | 11,270 | 17,621 | (36.04) |
Operating profit/(loss) | 427 | (141) | 402.83 |
Profit/(loss) after tax | 2,430 | (74) | 3383.78 |
Equity shareholders' funds | 10,558 | 8,128 | 29.90 |
Current assets as % of current liabilities |
1036.87.% |
302.18% |
243.13 |
Average number of employees |
46 |
91 |
(49.45) |
PRINCIPAL RISKS AND UNCERTAINTIES |
Following the sale of its trade and net assets on 1 November 2022 , the Company became dormant.The Directors do not consider there to be any principal risks or uncertainties. |
ON BEHALF OF THE BOARD: |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MARCH 2023 |
The directors present their report with the financial statements of the company for the year ended 31 March 2023. |
CESSATION OF TRADING |
The company ceased trading on 1 November 2022. |
DIVIDENDS |
No dividends will be distributed for the year ended 31 March 2023. |
FUTURE DEVELOPMENTS |
Following the sale of its trade and net assets on 1 November 2022, the company became and will remain dormant. |
DIRECTORS |
Other changes in directors holding office are as follows: |
C Underwood and A James were appointed as directors after 31 March 2023 , on 14th April 2023. |
M Day and R W Morris ceased to be directors after 31 March 2023, on 14th April 2023. |
Directors' and Officers' liability and insurance |
The ultimate parent company (Note 17) entered into a new deed in 2023 to indemnity the Directors (from time to time) of the company to the extent permitted by law. A copy of this indemnity (which remains in force as of the date on which this report was approved) is available at the registered office of the company. The ultimate parent company purchased and maintained Directors' and Officers' liability insurance throughout the period for each of its Directors and each of its Directors of its subsidiary companies.. It remains in force at the date of approval of this Directors' Report. Neither the indemnity nor insurance provides cover in the event that a Director or Officer is proved to have acted fraudulently. |
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. |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MARCH 2023 |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
JOHN LISCOMBE LIMITED |
Opinion |
We have audited the financial statements of John Liscombe Limited (the 'company') for the year ended 31 March 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 March 2023 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 |
JOHN LISCOMBE LIMITED |
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. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
JOHN LISCOMBE LIMITED |
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. |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
Our audit testing might include testing complete populations of certain transactions and balances. However it typically involves selecting a limited number of items for testing, rather than testing complete populations. We will often seek to target particular items for testing based on their size or risk characteristics. In other cases, we will use audit sampling to enable us to draw a conclusion about the population from which the sample is selected. |
The extent to which the audit was considered capable of detecting irregularities including fraud is detailed as follows:- |
The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience. |
We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. |
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls, we: |
Performed analytical procedures to identify any unusual or unexpected relationships; |
Tested journal entries to identify unusual transactions; |
Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |
Investigated the rationale behind significant or unusual transactions. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
Agreeing financial statement disclosures to underlying supporting documentation; |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
JOHN LISCOMBE LIMITED |
Reading the minutes of meetings of those charged with governance; |
Enquiring of management as to actual and potential litigation and claims; and |
Reviewing correspondence with HMRC and the company's legal advisors. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
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. |
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. |
for and on behalf of |
Chartered Accountants and Statutory Auditors |
18 Gold Tops |
Newport |
South Wales |
NP20 5WJ |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2023 |
31.3.23 | 31.3.23 | 31.3.23 |
Continuing | Discontinued | Total |
Notes | £ | £ | £ |
TURNOVER | 3 |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
OPERATING PROFIT | 5 |
Profit on sale of operation | 6 |
- | 2,476,916 | 2,476,916 |
Interest receivable and similar income |
Gain/loss on revaluation of assets | - | - | - |
PROFIT BEFORE TAXATION |
Tax on profit | 8 | ( |
) | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2023 |
31.3.22 | 31.3.22 | 31.3.22 |
Continuing | Discontinued | Total |
Notes | £ | £ | £ |
TURNOVER | 3 |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
OPERATING LOSS | 5 | ( |
) | ( |
) |
Interest receivable and similar income |
Gain/loss on revaluation of assets | - | - | - |
Interest payable and similar expenses | 7 | ( |
) | ( |
) |
LOSS BEFORE TAXATION | ( |
) | ( |
) |
Tax on loss | 8 |
LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
BALANCE SHEET |
31 MARCH 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
Investments | 10 |
CURRENT ASSETS |
Stocks | 11 |
Debtors | 12 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 13 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 15 |
Share premium | 16 |
Retained earnings | 16 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 31 MARCH 2023 |
Called up |
share | Retained | Share | Total |
capital | earnings | premium | equity |
£ | £ | £ | £ |
Balance at 1 April 2021 |
Changes in equity |
Total comprehensive income | - | ( |
) | - | ( |
) |
Balance at 31 March 2022 |
Changes in equity |
Total comprehensive income | - | - |
Balance at 31 March 2023 |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
John Liscombe Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These separate 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 on a going concern basis , under the historical cost convention. |
Preparation of consolidated financial statements |
The Company is included in RS Group plc's consolidated accounts which are publicly available (Note 17) and is therefore exempt, by virtue of section 400 of the Companies Act 2006, from the requirement to prepare consolidated financial statements. |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
- the requirements of Section 7 Statement of Cash Flows |
- financial instrument disclosures |
- share-based payment disclosures |
- key management personnel compensation disclosure |
Related party exemption |
There were no related party transactions during the period other than between the company and other wholly-owned Group companies.The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
The preparation of accounts under FRS102 requires the company to make judgements and estimates that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. There are no areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant that are included in these accounts. |
Significant estimates are those that have a significant risk of resulting in a material adjustment to the carrying amounts of the company's assets and liabilities in the next 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 |
Long leasehold | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Basic financial instruments |
Debtors and cash at bank and in hand are initially recognised at transaction price and then subsequently at amortised cost less any provision for impairment. |
Creditors are initially recognised at transaction price and then subsequently at amortised cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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. |
Pension costs and other post-retirement benefits |
The company operated a defined contribution pension scheme. Contributions payable to the company's pension scheme were charged to profit and loss in the period to which they related. |
Operating leases |
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease. |
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. |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
3. | TURNOVER |
The turnover and profit (2022-loss) before taxation are attributable to what was the one principal activity of the company. |
An analysis of turnover by geographical market is given below: |
31.3.23 | 31.3.22 |
£ | £ |
United Kingdom | 11,183,042 | 17,551,138 |
Europe | 87,256 | 65,839 |
Asia | - | 1,784 |
Caribbean | - | 1,897 |
11,270,298 | 17,620,658 |
4. | EMPLOYEES AND DIRECTORS |
31.3.23 | 31.3.22 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
31.3.23 | 31.3.22 |
Administration and finance | 14 | 27 |
Factory | 8 | 14 |
Sales | 7 | 19 |
Warehouse | 17 | 31 |
The directors of the company who are employees of other RS Group companies predominantly perform services for and are remunerated by other RS Group companies. These Directors received no emoluments for their qualifying services to the company. |
The remuneration of other directors of the company were as follows: |
31.3.23 | 31.3.22 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
5. | OPERATING PROFIT/(LOSS) |
The operating profit (2022 - operating loss) is stated after charging/(crediting): |
31.3.23 | 31.3.22 |
£ | £ |
Depreciation - owned assets |
Auditors' remuneration |
Foreign exchange differences | ( |
) |
Operating lease rentals |
6. | DISCONTINUED OPERATIONS |
On 1 November 2022 the trade and net assets of the business were sold to a fellow subsidiary of the RS Group for consideration of £8.5m and a profit on disposal of £2,049,564 was recognised in the statement of comprehensive income. During the year the business contributed post-tax profits of £380,039 (2022 losses of £73,946), before profit on sale of operation. |
7. | INTEREST PAYABLE AND SIMILAR EXPENSES |
31.3.23 | 31.3.22 |
£ | £ |
Hire purchase |
8. | TAXATION |
Analysis of the tax charge/(credit) |
The tax charge/(credit) on the profit for the year was as follows: |
31.3.23 | 31.3.22 |
£ | £ |
Current tax: |
UK corporation tax | ( |
) |
Tax on profit/(loss) | ( |
) |
Reconciliation of total tax charge/(credit) included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
31.3.23 | 31.3.22 |
£ | £ |
Profit/(loss) before tax | ( |
) |
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of |
( |
) |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) | ( |
) |
Capital allowances in excess of depreciation | - | ( |
) |
Depreciation in excess of capital allowances | - |
Adjustments to tax charge in respect of previous periods | ( |
) |
Total tax charge/(credit) | 102,333 | (68,239 | ) |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
9. | TANGIBLE FIXED ASSETS |
Improvements |
Long | to | Plant and |
leasehold | property | machinery |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
10. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
11. | STOCKS |
31.3.23 | 31.3.22 |
£ | £ |
Raw materials and consumables |
Finished goods and goods for resale |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Tax |
Prepayments and accrued income |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | - | 208,607 |
Other creditors |
Accrued expenses |
JOHN LISCOMBE LIMITED (REGISTERED NUMBER: 00144689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
14. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.23 | 31.3.22 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
15. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.23 | 31.3.22 |
value: | £ | £ |
Ordinary | £1 | 1,246 | 1,246 |
Preference | £1 | 2,100 | 2,100 |
3,346 | 3,346 |
The net profits of the Company shall be applied first in paying the holders of preference shares a non-cumulative preferential dividend at the rate of six pounds per centum per annum on the amount paid up or credited as paid up. |
If the Company shall be wound up the assets of the Company shall be applied first to the repayment to the holders of the preference shares the amounts paid up or credited as paid up on such preference shares. |
16. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 April 2022 | 8,124,667 |
Profit for the year |
At 31 March 2023 | 10,554,270 |
17. | ULTIMATE PARENT COMPANY |
The ultimate parent company and the smallest and largest group to consolidate these accounts is RS Group plc.. Copies of the RS Group plc Annual Report and Accounts are available to the public and may be obtained from Fifth Floor, Two Pancras Square, London N1C 4AG, UK. |