Company registration number 06624101 (England and Wales)
THE ELECTROSPINNING COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
THE ELECTROSPINNING COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 11
THE ELECTROSPINNING COMPANY LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
138,871
89,518
Tangible assets
5
1,113,393
1,507,143
1,252,264
1,596,661
Current assets
Stocks
43,715
46,298
Debtors
6
537,848
550,550
Cash at bank and in hand
1,628,342
2,450,605
2,209,905
3,047,453
Creditors: amounts falling due within one year
7
(576,387)
(406,434)
Net current assets
1,633,518
2,641,019
Total assets less current liabilities
2,885,782
4,237,680
Creditors: amounts falling due after more than one year
9
(750,964)
(976,040)
Provisions for liabilities
(17,282)
(12,645)
Net assets
2,117,536
3,248,995
Capital and reserves
Called up share capital
13
210
209
Share premium account
8,385,868
8,384,320
Profit and loss reserves
(6,268,542)
(5,135,534)
Total equity
2,117,536
3,248,995

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 November 2023 and are signed on its behalf by:
A Kramer
Director
Company registration number 06624101 (England and Wales)
THE ELECTROSPINNING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

The Electrospinning Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is R27 Rutherford Appleton Laboratory, Harwell, Didcot, Oxfordshire, OX11 0QX.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

1.2
Going concern

The Company has incurred a loss of £1,505,571 for the year ended 30 June 2023 (2022: £1,522,810), has net assets as at 30 June 2023 of £2,209,897 (2022: £3,248,995) of which cash represents £1,628,342 (2022: £2,450,605). The Directors have prepared forecasts and projections using what they consider to be reasonable assumptions relating to the Company's financial performance, current financial position, and existing financial resources for a period of at least 12 months from the date of signing of the financial statements. The Directors have considered a range of scenarios in the Company's forecasts which demonstrate the Company to be a going concern.true

Based on the above, the Directors are of the opinion that the going concern principle is applicable and that the Company has the necessary resources to continue as a going concern for the foreseeable future.

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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

THE ELECTROSPINNING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Patents
10% straight line
1.6
Tangible fixed assets

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

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

Plant and machinery
33% straight line
Fixtures and fittings
10% straight line
Office Equipment
33% straight line

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.

1.7
Impairment of fixed assets

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

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

THE ELECTROSPINNING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.8
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.

1.9
Cash and cash equivalents

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

1.10
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 balance sheet 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.

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.

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.

THE ELECTROSPINNING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
1.11
Equity instruments

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

1.12
Taxation

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

Current tax

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

Deferred tax

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

 

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

1.13
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.14
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.

1.15
Retirement benefits

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

THE ELECTROSPINNING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 6 -
1.16
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

 

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

1.17
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.

1.18
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.

THE ELECTROSPINNING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Capitalisation of Development Costs

The business incurs a significant amount of research and development cost. The point in time at which the business begins capitalisation of any project is a critical accounting judgement. Development costs are only capitalised where an intellectual property meets each of the capitalisation criteria listed in FRS102. Management has reviewed the facts and circumstances of each project in relation to the criteria for capitalisation and have determined that none of the projects met the requirements for capitalisation. Accordingly, no development costs have been capitalised for the year ended 30 June 2023 (2021: nil) and have instead been expensed as incurred.

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.

Share Based Payments

The Company measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. Estimating fair value for share-based payment transactions requires determining the most appropriate valuation model, which management has deemed to be Black Scholes. This estimate also requires determining the most appropriate inputs to the valuation model including the fair value of the underlying share, expected life of the share option, volatility and dividend yield, and making assumptions about them.

3
Employees

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

2023
2022
Number
Number
Total
24
23
THE ELECTROSPINNING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 8 -
4
Intangible fixed assets
Patents
£
Cost
At 1 July 2022
95,018
Additions
54,555
Disposals
(2,278)
At 30 June 2023
147,295
Amortisation and impairment
At 1 July 2022
5,500
Amortisation charged for the year
3,068
Disposals
(144)
At 30 June 2023
8,424
Carrying amount
At 30 June 2023
138,871
At 30 June 2022
89,518
5
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Office Equipment
Total
£
£
£
£
Cost
At 1 July 2022
1,980,434
1,025,901
81,657
3,087,992
Additions
44,345
-
0
11,180
55,525
Disposals
-
0
-
0
(10,626)
(10,626)
At 30 June 2023
2,024,779
1,025,901
82,211
3,132,891
Depreciation and impairment
At 1 July 2022
1,264,141
257,704
59,004
1,580,849
Depreciation charged in the year
332,463
103,091
13,310
448,864
Eliminated in respect of disposals
-
0
-
0
(10,215)
(10,215)
At 30 June 2023
1,596,604
360,795
62,099
2,019,498
Carrying amount
At 30 June 2023
428,175
665,106
20,112
1,113,393
At 30 June 2022
716,293
768,197
22,653
1,507,143
THE ELECTROSPINNING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 9 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
194,746
176,719
Corporation tax recoverable
110,624
114,777
Other debtors
74,375
58,272
Prepayments and accrued income
158,103
200,782
537,848
550,550
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
169,831
-
0
Trade creditors
86,659
105,313
Taxation and social security
38,266
35,716
Other creditors
21,705
8,417
Accruals and deferred income
259,926
256,988
576,387
406,434
8
Bank loans

The loan facility is secured by a fixed and floating charge over all of the Company's assets and undertakings. The interest rate explicit in the loan facility is 3.7% with payments commencing from July 2023.

9
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
544,640
714,471
Accruals and deferred income
206,324
261,569
750,964
976,040
10
Long term deferred income

During the year ended 30 June 2019, the Company received a contribution towards fit-out costs from its landlord totalling £490,441. The liability within deferred income is to be released over the life of the lease of the premises being ten years, with six years remaining at 30 June 2023.

The aggregate amount of deferred income to be released in more than five years after the balance sheet date is £261,569 (2022: £261,569).

 

THE ELECTROSPINNING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 10 -
11
Deferred Taxation

As at 30 June 2023 there existed a potential net deferred tax asset of £1,458,373 (2022: £1,168,840), comprising an asset of £1,651,631 (2022: £1,478,934) in respect of unrelieved trading losses, an asset of £85,090 (2022: £66,692) in respect of the RDEC restriction and a liability of £278,348 (2022: £376,786) in respect of accelerated capital allowances. This has not been reflected as an asset given the uncertainty of future revenue streams and as the company is committed to significant continued investment in research and development.

 

12
Share-based payment transactions
Number of share options
Weighted average exercise price
2023
2022
2023
2022
Number
Number
£
£
Outstanding at 1 July 2022
3,086
2,129
17.80
14.76
Granted
292
984
25.00
25.00
Exercised
(128)
(9)
12.11
25.00
Expired
(176)
(18)
17.16
25.00
Outstanding at 30 June 2023
3,074
3,086
18.76
17.80
Exercisable at 30 June 2023
2,444
2,146
17.15
14.65

The options outstanding at 30 June 2023 had an exercise price ranging from £10 to £25, and a contractual life of 10 years from the date of grant.

Liabilities and expenses

During the year, the company recognised total share-based payment expenses of £372,555 (2022 - £78,105) which related to equity settled share based payment transactions.

13
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of 1p each
21,014
20,886
210
209

In March 2023 110 £0.01 Ordinary shares were issued in an option exercise for £10 per share and 18 £0.01 Ordinary shares were issued in an option exercise for £25 per share.

14
Operating lease commitments

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

2023
2022
£
£
1,189,047
1,402,024
THE ELECTROSPINNING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 11 -
16
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Jemima King and the auditor was Richardsons.
2023-06-302022-07-01false06 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedL BrennanW BrooksM EcklA KramerR  McKeanD SchauerS Whitefalse066241012022-07-012023-06-30066241012023-06-30066241012022-06-3006624101core:PatentsTrademarksLicencesConcessionsSimilar2023-06-3006624101core:PatentsTrademarksLicencesConcessionsSimilar2022-06-3006624101core:PlantMachinery2023-06-3006624101core:FurnitureFittings2023-06-3006624101core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-06-3006624101core:PlantMachinery2022-06-3006624101core:FurnitureFittings2022-06-3006624101core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-06-3006624101core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3006624101core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-3006624101core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3006624101core:Non-currentFinancialInstrumentscore:AfterOneYear2022-06-3006624101core:CurrentFinancialInstruments2023-06-3006624101core:CurrentFinancialInstruments2022-06-3006624101core:Non-currentFinancialInstruments2023-06-3006624101core:Non-currentFinancialInstruments2022-06-3006624101core:ShareCapital2023-06-3006624101core:ShareCapital2022-06-3006624101core:SharePremium2023-06-3006624101core:SharePremium2022-06-3006624101core:RetainedEarningsAccumulatedLosses2023-06-3006624101core:RetainedEarningsAccumulatedLosses2022-06-3006624101bus:Director42022-07-012023-06-3006624101core:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-3006624101core:PatentsTrademarksLicencesConcessionsSimilar2022-07-012023-06-3006624101core:PlantMachinery2022-07-012023-06-3006624101core:FurnitureFittings2022-07-012023-06-3006624101core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-07-012023-06-30066241012021-07-012022-06-3006624101core:PatentsTrademarksLicencesConcessionsSimilar2022-06-3006624101core:PatentsTrademarksLicencesConcessionsSimilarcore:ExternallyAcquiredIntangibleAssets2022-07-012023-06-3006624101core:PlantMachinery2022-06-3006624101core:FurnitureFittings2022-06-3006624101core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-06-30066241012022-06-30066241012021-06-3006624101bus:PrivateLimitedCompanyLtd2022-07-012023-06-3006624101bus:SmallCompaniesRegimeForAccounts2022-07-012023-06-3006624101bus:FRS1022022-07-012023-06-3006624101bus:Audited2022-07-012023-06-3006624101bus:Director12022-07-012023-06-3006624101bus:Director22022-07-012023-06-3006624101bus:Director32022-07-012023-06-3006624101bus:Director52022-07-012023-06-3006624101bus:Director62022-07-012023-06-3006624101bus:Director72022-07-012023-06-3006624101bus:FullAccounts2022-07-012023-06-30xbrli:purexbrli:sharesiso4217:GBP