REGISTERED NUMBER: 01881755 (England and Wales) |
Report of the Director and |
Unaudited Consolidated Financial Statements |
for the Year Ended 30 April 2023 |
for |
Norfolk Yacht Agency Limited |
REGISTERED NUMBER: 01881755 (England and Wales) |
Report of the Director and |
Unaudited Consolidated Financial Statements |
for the Year Ended 30 April 2023 |
for |
Norfolk Yacht Agency Limited |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Contents of the Consolidated Financial Statements |
for the Year Ended 30 April 2023 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Chartered Accountants' Report | 3 |
Consolidated Income Statement | 4 |
Consolidated Balance Sheet | 5 |
Company Balance Sheet | 7 |
Consolidated Statement of Changes in Equity | 9 |
Company Statement of Changes in Equity | 10 |
Notes to the Consolidated Financial Statements | 11 |
Norfolk Yacht Agency Limited |
Company Information |
for the Year Ended 30 April 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Limes |
32 Bridge Street |
Thetford |
Norfolk |
IP24 3AG |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Report of the Director |
for the Year Ended 30 April 2023 |
The director presents his report with the financial statements of the company and the group for the year ended 30 April 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the group in the year under review was that of the sale of new and used boats and the provision of ancillary services. The principal activity of the subsidiary was that of the management of a marina. |
DIRECTOR |
CHARITABLE DONATIONS AND EXPENDITURE |
Charitable donations were paid during the year totalling £3,448. |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Norfolk Yacht Agency Limited |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norfolk Yacht Agency Limited for the year ended 30 April 2023 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity and the related notes from the company's and the group's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Norfolk Yacht Agency Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Norfolk Yacht Agency Limited and state those matters that we have agreed to state to the director of Norfolk Yacht Agency Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norfolk Yacht Agency Limited the company and the group and the company's director for our work or for this report. |
It is your duty to ensure that Norfolk Yacht Agency Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Norfolk Yacht Agency Limited. You consider that Norfolk Yacht Agency Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Norfolk Yacht Agency Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Knights Lowe |
Chartered Accountants |
The Limes |
32 Bridge Street |
Thetford |
Norfolk |
IP24 3AG |
20 October 2023 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Consolidated |
Income Statement |
for the Year Ended 30 April 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER | 4,657,294 | 5,446,620 |
Cost of sales | 2,993,872 | 3,490,202 |
GROSS PROFIT | 1,663,422 | 1,956,418 |
Administrative expenses | 1,157,548 | 1,065,886 |
505,874 | 890,532 |
Other operating income | 84,382 | 86,582 |
OPERATING PROFIT | 4 | 590,256 | 977,114 |
Interest receivable and similar income | 10,674 | - |
600,930 | 977,114 |
Interest payable and similar expenses | 60,735 | 40,271 |
PROFIT BEFORE TAXATION | 540,195 | 936,843 |
Tax on profit | 5 | 206,842 | 177,485 |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 333,353 | 759,358 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Consolidated Balance Sheet |
30 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 | 3,054,077 | 2,802,963 |
Investments | 9 | - | - |
Investment property | 10 | 400,000 | 400,000 |
3,454,077 | 3,202,963 |
CURRENT ASSETS |
Stocks | 1,464,606 | 869,318 |
Debtors | 11 | 285,148 | 397,190 |
Cash at bank | 332,502 | 1,200,894 |
2,082,256 | 2,467,402 |
CREDITORS |
Amounts falling due within one year | 12 | 775,774 | 1,193,720 |
NET CURRENT ASSETS | 1,306,482 | 1,273,682 |
TOTAL ASSETS LESS CURRENT LIABILITIES | 4,760,559 | 4,476,645 |
CREDITORS |
Amounts falling due after more than one year | 13 | (955,516 | ) | (1,061,679 | ) |
PROVISIONS FOR LIABILITIES | 16 | (506,855 | ) | (340,898 | ) |
NET ASSETS | 3,298,188 | 3,074,068 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Consolidated Balance Sheet - continued |
30 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 17 | 50 | 50 |
Revaluation reserve | 18 | 451,749 | 487,889 |
Capital redemption reserve | 50 | 50 |
Fair value reserve | 18 | 177,000 | 191,160 |
Retained earnings | 2,669,339 | 2,394,919 |
SHAREHOLDERS' FUNDS | 3,298,188 | 3,074,068 |
The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023. |
The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006. |
The director acknowledges his responsibilities for: |
(a) | ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group. |
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved by the director and authorised for issue on 20 October 2023 and were signed by: |
Mr J H Fraser - Director |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Company Balance Sheet |
30 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
Investments | 9 |
Investment property | 10 |
CURRENT ASSETS |
Stocks |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 13 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 16 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 17 |
Revaluation reserve |
Capital redemption reserve |
Fair value reserve | 177,000 | 191,160 |
Retained earnings |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 300,706 | 696,692 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Company Balance Sheet - continued |
30 April 2023 |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Consolidated Statement of Changes in Equity |
for the Year Ended 30 April 2023 |
Called up |
share | Retained | Revaluation |
capital | earnings | reserve |
£ | £ | £ |
Balance at 1 May 2021 | 50 | 1,725,561 | 487,889 |
Changes in equity |
Dividends | - | (90,000 | ) | - |
Total comprehensive income | - | 759,358 | - |
Balance at 30 April 2022 | 50 | 2,394,919 | 487,889 |
Changes in equity |
Dividends | - | (90,000 | ) | - |
Total comprehensive income | - | 364,420 | (36,140 | ) |
Balance at 30 April 2023 | 50 | 2,669,339 | 451,749 |
Capital | Fair |
redemption | value | Total |
reserve | reserve | equity |
£ | £ | £ |
Balance at 1 May 2021 | 50 | 191,160 | 2,404,710 |
Changes in equity |
Dividends | - | - | (90,000 | ) |
Total comprehensive income | - | - | 759,358 |
Balance at 30 April 2022 | 50 | 191,160 | 3,074,068 |
Changes in equity |
Dividends | - | - | (90,000 | ) |
Total comprehensive income | - | (14,160 | ) | 314,120 |
Balance at 30 April 2023 | 50 | 177,000 | 3,298,188 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Company Statement of Changes in Equity |
for the Year Ended 30 April 2023 |
Called up |
share | Retained | Revaluation |
capital | earnings | reserve |
£ | £ | £ |
Balance at 1 May 2021 |
Changes in equity |
Dividends | - | ( |
) | - |
Total comprehensive income | - |
Balance at 30 April 2022 | 50 | 2,124,939 | 259,642 |
Changes in equity |
Dividends | - | ( |
) | - |
Total comprehensive income | - | ( |
) |
Balance at 30 April 2023 | 50 | 2,349,805 | 240,409 |
Capital | Fair |
redemption | value | Total |
reserve | reserve | equity |
£ | £ | £ |
Balance at 1 May 2021 |
Changes in equity |
Dividends | - | - | ( |
) |
Total comprehensive income |
Balance at 30 April 2022 | 191,160 | 2,575,841 |
Changes in equity |
Dividends | - | - | ( |
) |
Total comprehensive income | ( |
) |
Balance at 30 April 2023 | 177,000 | 2,767,314 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Notes to the Consolidated Financial Statements |
for the Year Ended 30 April 2023 |
1. | STATUTORY INFORMATION |
Norfolk Yacht Agency Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Basis of consolidation |
The financial statements consolidate the financial statements of the Group and all its subsidiary undertakings. |
Turnover |
Turnover represents the total value, excluding value added tax, of sales made during the year. Sales of new boats are recognised when the customer accepts delivery of the new boat and legal title passes. |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 April 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and other loans from banks or other related parties. |
(i) Financial assets |
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 April 2023 |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets | 96,103 | 78,153 |
Profit on disposal of fixed assets | (10,413 | ) | (10,664 | ) |
5. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2023 | 2022 |
£ | £ |
Current tax: |
UK corporation tax | 60,118 | 157,478 |
Deferred tax | 146,724 | 20,007 |
Tax on profit | 206,842 | 177,485 |
6. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
7. | DIVIDENDS |
2023 | 2022 |
£ | £ |
Interim | 90,000 | 90,000 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 April 2023 |
8. | TANGIBLE FIXED ASSETS |
Group |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 May 2022 | 1,804,575 | 1,477,708 | 3,282,283 |
Additions | - | 437,304 | 437,304 |
Disposals | - | (106,125 | ) | (106,125 | ) |
At 30 April 2023 | 1,804,575 | 1,808,887 | 3,613,462 |
DEPRECIATION |
At 1 May 2022 | - | 479,320 | 479,320 |
Charge for year | - | 96,103 | 96,103 |
Eliminated on disposal | - | (16,038 | ) | (16,038 | ) |
At 30 April 2023 | - | 559,385 | 559,385 |
NET BOOK VALUE |
At 30 April 2023 | 1,804,575 | 1,249,502 | 3,054,077 |
At 30 April 2022 | 1,804,575 | 998,388 | 2,802,963 |
Company |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 April 2023 |
8. | TANGIBLE FIXED ASSETS - continued |
Company |
Cost or valuation at 30 April 2023 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2021 | 320,546 | - | 320,546 |
Cost | 329,454 | 1,808,887 | 2,138,341 |
650,000 | 1,808,887 | 2,458,887 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 329,454 | 329,454 |
Value of land in freehold land and buildings | 329,454 | 329,454 |
Freehold land and buildings were valued on an open market basis on 30 April 2023 by the director . |
9. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 May 2022 |
and 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 April 2023 |
9. | FIXED ASSET INVESTMENTS - continued |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiary |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
10. | INVESTMENT PROPERTY |
Group |
Total |
£ |
FAIR VALUE |
At 1 May 2022 |
and 30 April 2023 | 400,000 |
NET BOOK VALUE |
At 30 April 2023 | 400,000 |
At 30 April 2022 | 400,000 |
Company |
Total |
£ |
FAIR VALUE |
At 1 May 2022 |
and 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
Fair value at 30 April 2023 is represented by: |
£ |
Valuation in 2021 | 236,000 |
Cost | 164,000 |
400,000 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 April 2023 |
10. | INVESTMENT PROPERTY - continued |
Company |
If investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 164,000 | 164,000 |
Investment property was valued on an open market basis on 30 April 2023 by the director . |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Trade debtors | 88,379 | 68,372 |
Other debtors | 196,769 | 328,818 |
285,148 | 397,190 |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans and overdrafts | 324,050 | 80,674 |
Payments on account | 94,936 | 109,179 |
Trade creditors | 95,496 | 611,736 |
Taxation and social security | 167,121 | 269,127 |
Other creditors | 94,171 | 123,004 |
775,774 | 1,193,720 |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans | 955,516 | 1,061,679 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 April 2023 |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
Amounts falling due in more than five years: |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Repayable by instalments |
Bank loans > 5 years | 120,005 | 67,019 | 120,005 | 67,019 |
14. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Non-cancellable operating | leases |
2023 | 2022 |
£ | £ |
Within one year | 190,107 | 190,107 |
Between one and five years | 467,248 | 467,248 |
In more than five years | 467,248 | 584,060 |
1,124,603 | 1,241,415 |
Company |
Non-cancellable operating | leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
15. | SECURED DEBTS |
The following secured debts are included within creditors: |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans | 1,279,566 | 1,142,353 |
The bank loans are secured by fixed and floating charges against the group assets. In addition, the director has provided a personal guarantee in respect of the bank borrowings. |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 April 2023 |
16. | PROVISIONS FOR LIABILITIES |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Deferred tax |
Accelerated capital allowances | 297,272 | 181,615 | 297,272 | 181,615 |
Deferred tax on revaluation |
reserve | 150,583 | 114,443 | 80,137 | 60,904 |
Deferred tax on fair |
value reserve | 59,000 | 44,840 | 59,000 | 44,840 |
506,855 | 340,898 | 436,409 | 287,359 |
Group |
Deferred |
tax |
£ |
Balance at 1 May 2022 | 340,898 |
Provided during year | 165,957 |
Balance at 30 April 2023 | 506,855 |
Company |
Deferred |
tax |
£ |
Balance at 1 May 2022 |
Provided during year |
Balance at 30 April 2023 |
17. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 50 | 50 |
Norfolk Yacht Agency Limited (Registered number: 01881755) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 30 April 2023 |
18. | RESERVES |
Group |
Fair |
Revaluation | value |
reserve | reserve | Totals |
£ | £ | £ |
At 1 May 2022 | 487,889 | 191,160 | 679,049 |
Reserve movements | (36,140 | ) | - | (36,140 | ) |
Reserve movements | - | (14,160 | ) | (14,160 | ) |
At 30 April 2023 | 451,749 | 177,000 | 628,749 |
Company |
Fair |
Revaluation | value |
reserve | reserve | Totals |
£ | £ | £ |
At 1 May 2022 | 191,160 |
Reserve movements | (19,233 | ) | - | (19,233 | ) |
Reserve movements | - | (14,160 | ) | (14,160 | ) |
At 30 April 2023 | 177,000 |
19. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is J H Fraser. |