IRIS Accounts Production v23.3.1.45 00849433 Board of Directors 1.6.22 31.5.23 31.5.23 erection and hire of scaffolding equipment. true false true true false false true false Fair value model Ordinary shares 1.00000 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REGISTERED NUMBER: 00849433 (England and Wales)











STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

D & R GROUP PLC

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 7

Statement of Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


D & R GROUP PLC

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: G D Henderson
R R Goldfinch





SECRETARY: G D Henderson





REGISTERED OFFICE: Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW





BUSINESS ADDRESS: Railway Approach
Consort Road
Peckham
London
SE15 2PR





REGISTERED NUMBER: 00849433 (England and Wales)





AUDITORS: GBJ LLP
Statutory Auditor
Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2023


The directors present the strategic report and financial statements for the year ended 31 May 2023.

REVIEW OF BUSINESS
The principal activity of the company continued to be that of erection and hire of scaffolding equipment.

Given the current climate, the directors are satisfied with the sales performance in the year to 31 May 2023. Gross profit increased from 11.16% to 19.52% , the directors find this acceptable given the very competitive market.

Operating costs have increased during the year and this, together with the increased gross margin results in a loss before tax of £485,606 (2022: loss of £1,149,273 ).

PRINCIPAL RISKS AND UNCERTAINTIES
The directors constantly monitor the risks and uncertainties facing the company with particular reference to the exposure on liquidity, stocks, interest rates and credit risks. They are confident that there are suitable policies in place and there are no material risks and uncertainties which have not been considered.

The company uses various financial instruments which include loans, cash and various items, such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations. The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below.

The main risks arising from the company's financial instruments are interest rate risk and liquidity risk. The directors review and agree policies for managing each of these risks which are summarised below. These policies have remained unchanged from previous years.

Interest rate risk
The company finances its operations through a mixture of retained profits and bank borrowings. The company's exposure to interest rate fluctuations on its borrowings is managed by the use of fixed and floating facilities.

Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. The company's policy throughout the year has been to achieve this objective through the day to day involvement of management in business decisions rather than through setting maximum or minimum liquidity ratios.

SECTION 172(1) STATEMENT
This section serves as our S172 statement and should be read in conjunction with the whole Strategic Report. S172 Companies Act 2006 requires directors to take into consideration the interests of stakeholders in their decision making. The directors continue to have regard to the interests of the company's employees and other stakeholders including the impact of its activities on the community, the environment and the company's reputation when making decisions. The directors consider that acting in good faith and fairly between stakeholders is most likely to promote the success of the company. Our principal stakeholders are engaged with on a regular basis.


D & R GROUP PLC (REGISTERED NUMBER: 00849433)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2023

KEY PERFORMANCE INDICATORS
Key Performance indicators
The directors use a number of measures, both financial and non-financial to monitor and benchmark the performance of the company. They regard the following as the key financial indicators of performance:

- Operating profit - measuring the profits generated by the company's operations.

- Net cash flow from operating activities - measuring the performance in translating operating profit into cash flow through management of working capital and the monitoring of debtor days and stock levels.

The key non-financial indicators are associated with the company's ability to maintain its existing customer and supplier base.

FUTURE DEVELOPMENTS
The directors will continue to grow and develop the business in the future but anticipate that business will be very competitive during the current year.

POSITION OF THE COMPANY AT THE YEAR END
The results for the year and the financial position at the year end were considered satisfactory by the directors.

ON BEHALF OF THE BOARD:





G D Henderson - Director


28 November 2023

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MAY 2023


The directors present their report with the financial statements of the company for the year ended 31 May 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 May 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2022 to the date of this report.

G D Henderson
R R Goldfinch

Other changes in directors holding office are as follows:

G Henderson - deceased 10 November 2022

DISCLOSURE IN THE STRATEGIC REPORT
Details of items required under Schedule 7 to the Large and Medium-sized Companies and Groups (Accounts and Reports Regulations) 2008 are provided in the Strategic Report on pages 2 and 3.

DISABLED EMPLOYEES
The company gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the company's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training, career development and promotion to disabled employees wherever appropriate.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
The directors regularly engage with all stakeholders including customers, suppliers and other business partners. This enables the directors to enhance market focus, improve decision making and promote the long-term success of the company more effectively, and includes:

- regular engagement with major customers in support of our key account programme;
- regular meetings with major suppliers to ensure we are supporting their efforts to bring products and services to market at fair prices, with rigorous quality control and high levels of availability;
- regular contact with our bankers and professional advisers to discuss our strategy and performance;
- regular reviews with employees of their role in the business and how it contributes to the overall business performance.

STREAMLINED ENERGY AND CARBON REPORTING
Environmental Matters and Streamlined Energy and Carbon Reporting (SECR)
The company takes environmental matters seriously and continues to improve its impact on the local and wider environment.
From 1 August 2019 we are required to report under the new SECVR regulations which provides increased transparency on our energy efficiency and emissions as a business.

Reporting methodology
The information has been provided using the GHG Protocol Corporate Accounting and Reporting Standard and the 2019 UK Government Environmental Reporting Guidelines.








D & R GROUP PLC (REGISTERED NUMBER: 00849433)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MAY 2023


Intensity Ratio
The intensity ratio chosen was tC02e per full time employee. This was chosen as it was deemed to be the best metric which could be constantly used over time and would best reflect changes in our energy consumption, but also reflect changes in our operations. .


Litres/Staff
numbers Kwh tC02e % of total
2023 2022 2023 2022 2023 2022 2023 2022
Gas - total
KWh Used
for the year




75,547


111,152


408.36


600.82


50


60
Electricity -
total KWh
Used for the
year






39,113



30,171



129.41



129.41



16



13
Transport -
Litres used
for the year




109,443


103,246




284.56


268.44


35


27
Number of
staff / total
C02




85


104




9.67


9.60


Tonnes of C02e
per Employee


Energy Efficiency and Environmental Actions
The business has been looking at ways to reduce plastic usage with our customers and suppliers during the year and we have made significant progress to date in reducing usage. This is an ongoing project.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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;
-state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
-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.

The directors are also responsible for preparing the Strategic Report in accordance with applicable law and regulations.

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MAY 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





G D Henderson - Director


28 November 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
D & R GROUP PLC


Opinion
We have audited the financial statements of D & R Group PLC (the 'company') for the year ended 31 May 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 May 2023 and of its loss 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
D & R GROUP PLC


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 five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

- we identified the laws and regulations applicable to the company through discussions with directors and from our knowledge and experience of the construction industry;
- 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 and data protection, anti-bribery, employment and health and safety legislation;
Additionally, we assessed the susceptibility of the company's financial statements to material misstatement, including obtaining and understanding how fraud might occur by:
- making enquires 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.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
D & R GROUP PLC


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.




Jonathan Hillier (Senior Statutory Auditor)
for and on behalf of GBJ LLP
Statutory Auditor
Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW

28 November 2023

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2023

2023 2022
Notes £ £

TURNOVER 4 6,730,307 6,002,131

Cost of sales 5,416,554 5,332,342
GROSS PROFIT 1,313,753 669,789

Administrative expenses 1,854,787 1,824,752
(541,034 ) (1,154,963 )

Other operating income 26,400 19,400
OPERATING LOSS 6 (514,634 ) (1,135,563 )

Interest receivable and similar income 43,146 3,246
(471,488 ) (1,132,317 )

Interest payable and similar expenses 7 14,118 16,956
LOSS BEFORE TAXATION (485,606 ) (1,149,273 )

Tax on loss 8 23,583 (226,021 )
LOSS FOR THE FINANCIAL YEAR (509,189 ) (923,252 )

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(509,189

)

(923,252

)

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 6,467,888 6,943,557
Investment property 10 813,136 813,136
7,281,024 7,756,693

CURRENT ASSETS
Debtors 11 1,513,074 1,513,073
Cash at bank and in hand 2,153,220 2,361,008
3,666,294 3,874,081
CREDITORS
Amounts falling due within one year 12 672,883 817,282
NET CURRENT ASSETS 2,993,411 3,056,799
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,274,435

10,813,492

CREDITORS
Amounts falling due after more than one
year

13

(48,984

)

(102,435

)

PROVISIONS FOR LIABILITIES 16 (502,773 ) (479,190 )
NET ASSETS 9,722,678 10,231,867

CAPITAL AND RESERVES
Called up share capital 17 250,000 250,000
Revaluation reserve 18 186,655 200,123
Fair value reserve 18 420,853 442,225
Retained earnings 18 8,865,170 9,339,519
SHAREHOLDERS' FUNDS 9,722,678 10,231,867

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





G D Henderson - Director


D & R GROUP PLC (REGISTERED NUMBER: 00849433)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023

Called up
share Retained Revaluation Fair value Total
capital earnings reserve reserve equity
£ £ £ £ £
Balance at 1 June 2021 250,000 10,262,771 200,123 442,225 11,155,119

Changes in equity
Total comprehensive income - (923,252 ) - - (923,252 )
Balance at 31 May 2022 250,000 9,339,519 200,123 442,225 10,231,867

Changes in equity
Total comprehensive income - (474,349 ) (13,468 ) (21,372 ) (509,189 )
Balance at 31 May 2023 250,000 8,865,170 186,655 420,853 9,722,678

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2023

2023 2022
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 60,862 (304,519 )
Interest paid (4,321 ) (9,559 )
Interest element of hire purchase
payments paid

(9,797

)

(7,397

)
Net cash from operating activities 46,744 (321,475 )

Cash flows from investing activities
Purchase of tangible fixed assets (211,827 ) (353,527 )
Improvements to investment property - (7,845 )
Sale of tangible fixed assets 7,870 13,800
Interest received 43,146 3,246
Net cash from investing activities (160,811 ) (344,326 )

Cash flows from financing activities
Loan repayments in year (28,350 ) (110,004 )
Capital repayments on HP in year (65,371 ) 5,225
Net cash from financing activities (93,721 ) (104,779 )

Decrease in cash and cash equivalents (207,788 ) (770,580 )
Cash and cash equivalents at
beginning of year

2

2,361,008

3,131,588

Cash and cash equivalents at end of
year

2

2,153,220

2,361,008

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2023


1. RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£ £
Loss before taxation (485,606 ) (1,149,273 )
Depreciation charges 687,497 681,138
Profit on disposal of fixed assets (7,870 ) (13,800 )
Finance costs 14,118 16,956
Finance income (43,146 ) (3,246 )
164,993 (468,225 )
(Increase)/decrease in trade and other debtors (2 ) 61,748
(Decrease)/increase in trade and other creditors (104,129 ) 101,958
Cash generated from operations 60,862 (304,519 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 May 2023
31.5.23 1.6.22
£ £
Cash and cash equivalents 2,153,220 2,361,008
Year ended 31 May 2022
31.5.22 1.6.21
£ £
Cash and cash equivalents 2,361,008 3,131,588


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.6.22 Cash flow At 31.5.23
£ £ £
Net cash
Cash at bank and in hand 2,361,008 (207,788 ) 2,153,220
2,361,008 (207,788 ) 2,153,220
Debt
Finance leases (159,884 ) 65,371 (94,513 )
Debts falling due after 1 year (28,350 ) 28,350 -
(188,234 ) 93,721 (94,513 )
Total 2,172,774 (114,067 ) 2,058,707

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

D & R Group PLC is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover and revenue recognition
Turnover represents the amounts receivable for scaffold erection and hire services net of VAT and trade discounts.

Revenue is recognised as and when the company satisfies a performance obligation and the significant risks and rewards have been transferred to the customer. Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of the service provided to date based on the stage of completion of contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of the debtors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings Freehold Freehold land and buildings are included in the balance sheet at cost, and include freehold land and buildings held at deemed cost in accordance with the transitional provisions under FRS 102. No depreciation is charged as it is the company's policy to maintain these to extend their useful lives.

Land and buildings Leasehold 10% straight line

Plant and machinery 3% - 12.5% straight line, depending on asset

Fixtures, fittings & equipment 10% - 20% straight line, depending on asset

Motor vehicles 25% straight line

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.

Investment properties are included in the balance sheet at their fair value.


D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


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

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of fixed assets
The need for any fixed asset impairment write-down is assessed by comparison of the carrying value of the asset against its recoverable amount.

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Going concern
In preparing the financial statements the directors are required to assess the company's ability to continue to trade as a going concern for the foreseeable future.

In undertaking this assessment, the directors have given due consideration to the company's banking facilities, historical and current trading, together with the forward-looking projections. The company has prepared detailed cashflow forecasts and undertaken scenario modelling.

The directors have reviewed the cash flow forecasts and based on their best assessment therefore believe that the company will have sufficient financing in place to ensure cash flows requirements are satisfied for at least the next twelve months and that there are no material uncertainties. As such, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements. Consequently, the financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

The directors have also considered the impact of events in Ukraine and the wider economy, including the impact of inflation, in making this assessment.

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Borrowing costs
All borrowing costs are recognised in the Statement of Comprehensive income in the year in which they are incurred.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Finance costs
Finance costs are charged to the Statement of Comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised when approved by the shareholders at an annual general meeting.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Debtors
Short-term debtors are measured at the transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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

Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure to settle the obligation, taking into account relevant risk and uncertainties.

When payments are eventually made, they are charged to the provision carried in the statement of Financial Position.

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessor are operating or finance leases.
These decisions depend on an assessment of whether the risks and rewards of ownership have
been transferred from the lessor to the lessee on a lease by lease basis.

- Determine whether there are indicators of impairment of the company's tangible assets. Factors
taken into consideration in reaching such a decision include the economic viability and expected
future financial performance of the asset and where it is a component of a larger cash-generating
unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty:

- Tangible fixed assets (see note 9)

Tangible fixed assets are depreciated over their useful lives taking into account residual values,
where appropriate. The actual lives of the assets and residual values are assessed annually and
may vary depending on a number of factors. In re-assessing asset lives, factors such as
technological innovation, product life cycles and maintenance programmes are taken into account.
Residual value assessments consider issues such as future market conditions, the remaining life of
the asset and projected disposal values.

- Investment property (see note 10)

Determine the fair value of the property at the year end using the market approach. Under this approach, prices and other information generated by market transactions of similar properties are used to determine fair value.

- Trade debtors (see note 11)

Determine the recoverability of trade receivables via regular review in the light of the available
economic information specific to each receivable with specific provisions recognised for balances
considered to be irrecoverable.

- Accrued income (see note 11)

Determine the value of revenue to recognise on jobs that are ongoing at the year end. This
calculation is dependent on the revenue assigned to each job. The value assigned per job is based on that historically achieved with the appropriateness of the value applied reviewed at regular intervals.

4. TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the United Kingdom.

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. EMPLOYEES AND DIRECTORS
2023 2022
£ £
Wages and salaries 3,989,326 3,889,352
Social security costs 417,977 360,341
Other pension costs 118,425 198,460
4,525,728 4,448,153

The average number of employees during the year was as follows:
2023 2022

Office and management 16 17
Production and sales 84 88
100 105

2023 2022
£ £
Directors' remuneration 72,215 85,684
Directors' pension contributions to money purchase schemes - 40,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

Key management personnel includes all persons, who are not directors, who have authority and responsibility for planning,directing and controlling the activities of the company. The total compensation paid to key management personnel for services provided to the company was £294,124.

6. OPERATING LOSS

The operating loss is stated after charging/(crediting):

2023 2022
£ £
Hire of plant and machinery 1,278 2,728
Other operating leases 268,044 144,181
Depreciation - owned assets 626,283 586,427
Depreciation - assets on hire purchase contracts 61,213 94,711
Profit on disposal of fixed assets (7,870 ) (13,800 )
Auditors' remuneration 23,200 24,000
Auditors' remuneration for non audit work 800 -

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£ £
Non bank interest paid 4,321 9,559
Hire purchase 9,797 7,397
14,118 16,956

8. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the loss for the year was as follows:
2023 2022
£ £
Deferred tax 23,583 (226,021 )
Tax on loss 23,583 (226,021 )

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

2023 2022
£ £
Loss before tax (485,606 ) (1,149,273 )
Loss multiplied by the standard rate of corporation tax in the UK of
20% (2022 - 19%)

(97,121

)

(218,362

)

Effects of:
Expenses not deductible for tax purposes 386 7,906
Depreciation in excess of capital allowances 68,543 15,962
Deferred tax 23,583 (226,021 )
allowance
Losses c/fwd 28,192 194,494


Total tax charge/(credit) 23,583 (226,021 )

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


9. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£ £ £
COST OR VALUATION
At 1 June 2022 1,149,524 121,086 9,927,330
Additions - - 143,867
Disposals - - -
At 31 May 2023 1,149,524 121,086 10,071,197
DEPRECIATION
At 1 June 2022 - 120,254 4,664,648
Charge for year - 831 451,389
Eliminated on disposal - - -
At 31 May 2023 - 121,085 5,116,037
NET BOOK VALUE
At 31 May 2023 1,149,524 1 4,955,160
At 31 May 2022 1,149,524 832 5,262,682

Office
equipment
and Motor
furniture vehicles Totals
£ £ £
COST OR VALUATION
At 1 June 2022 429,926 1,543,816 13,171,682
Additions - 67,960 211,827
Disposals - (37,945 ) (37,945 )
At 31 May 2023 429,926 1,573,831 13,345,564
DEPRECIATION
At 1 June 2022 415,235 1,027,988 6,228,125
Charge for year - 235,276 687,496
Eliminated on disposal - (37,945 ) (37,945 )
At 31 May 2023 415,235 1,225,319 6,877,676
NET BOOK VALUE
At 31 May 2023 14,691 348,512 6,467,888
At 31 May 2022 14,691 515,828 6,943,557

The freehold and land and buildings were valued on an open market basis by independent Chartered Surveyors; Hindwoods Hunter Payne, and Levene Chartered Surveyors and by the directors themselves. The valuations took place in 2007, 2010 and 2012.In line with the Accounting Policy all freehold land and buildings are included at cost or deemed cost.

A provision has been made for deferred tax on gains on revaluing properties to their fair values. The total amount provided is £56,571.

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


9. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 May 2023 is represented by:

Freehold Short Plant and
property leasehold machinery
£ £ £
Valuation in 1989 118,226 - -
Valuation in 2007 125,000 - -
Cost 906,298 121,086 10,071,197
1,149,524 121,086 10,071,197

Office
equipment
and Motor
furniture vehicles Totals
£ £ £
Valuation in 1989 - - 118,226
Valuation in 2007 - - 125,000
Cost 429,926 1,573,831 13,102,338
429,926 1,573,831 13,345,564

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£ £
Cost 906,298 906,298

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


9. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST OR VALUATION
At 1 June 2022 229,175
Additions 44,500
Disposals (37,945 )
Transfer to ownership (39,000 )
At 31 May 2023 196,730
DEPRECIATION
At 1 June 2022 114,952
Charge for year 61,213
Eliminated on disposal (37,945 )
Transfer to ownership (23,563 )
At 31 May 2023 114,657
NET BOOK VALUE
At 31 May 2023 82,073
At 31 May 2022 114,223

10. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 June 2022
and 31 May 2023 813,136
NET BOOK VALUE
At 31 May 2023 813,136
At 31 May 2022 813,136

A provision has been made for deferred tax on gains on revaluing the property to its fair value. The total amount provided is £96,470.

The directors consider the value remains unchanged as at 31 May 2023.

Fair value at 31 May 2023 is represented by:
£
Valuation in 2004 172,192
Valuation in 2007 200,000
Valuation in 2012 100,000
Valuation in 2019 45,132
Cost 295,812
813,136

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


10. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£ £
Cost 295,812 295,812

Investment property was valued on an open market basis basis on 31 May 2019 by a third party .

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 1,119,392 1,205,184
Other debtors 228,717 144,426
VAT 10,552 34,450
Prepayments 104,856 20,027
Accrued income 49,557 108,986
1,513,074 1,513,073

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Hire purchase contracts (see note 15) 45,529 85,799
Trade creditors 249,724 230,136
Social security and other taxes 98,079 132,026
Other creditors 49,635 46,926
Other loans 28,350 110,004
Accruals and deferred income 201,566 212,391
672,883 817,282

Other loans are secured by a fixed and floating charge over the company's investment property.

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Other loans (see note 14) - 28,350
Hire purchase contracts (see note 15) 48,984 74,085
48,984 102,435

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


14. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£ £
Amounts falling due between one and two years:
Other loans - 1-2 years - 28,350

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Gross obligations repayable:
Within one year 55,795 91,169
Between one and five years 66,238 79,282
122,033 170,451

Finance charges repayable:
Within one year 10,266 5,370
Between one and five years 17,254 5,197
27,520 10,567

Net obligations repayable:
Within one year 45,529 85,799
Between one and five years 48,984 74,085
94,513 159,884

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


15. LEASING AGREEMENTS - continued

At 31 May 2023 the company had future minimum lease payments under non-cancellable operating leases as follows:

2023 2022
£ £
Land and buildings

Within 1 year 275,000 11,500

Between 2 and 5 years 550,000 -
825,000 11,500

2023 2022
£ £
Other

Within 1 year 2,688 2,688

Between 2 and 5 years 5,376 8,064
8,064 10,752

16. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax
Deferred tax b/f 364,367 588,897
Deferred tax movement (14,636 ) (224,530 )
349,731 364,367

Other provisions 153,042 114,823

Aggregate amounts 502,773 479,190

Property
Deferred revaluatio
tax ns
£ £
Balance at 1 June 2022 364,367 114,823
Accelerated capital allowances (14,636 ) -
Property revaluations
Corporation tax rate change - 38,219
Balance at 31 May 2023 349,731 153,042

D & R GROUP PLC (REGISTERED NUMBER: 00849433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
250,000 Ordinary shares £1 250,000 250,000

18. RESERVES
Retained Revaluation Fair value
earnings reserve reserve Totals
£ £ £ £

At 1 June 2022 9,339,519 200,123 442,225 9,981,867
Deficit for the year (509,189 ) - - (509,189 )
Transfer from Reval Reserve 34,840 (13,468 ) (21,372 ) -
At 31 May 2023 8,865,170 186,655 420,853 9,472,678