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REGISTERED NUMBER: 11009024 (England and Wales)











GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

FLOORSPAN INVESTMENTS LIMITED

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


FLOORSPAN INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: N K Dighton





REGISTERED OFFICE: 9 Commerce Road
Lynchwood
Peterborough
Cambridgeshire
PE2 6LR





REGISTERED NUMBER: 11009024 (England and Wales)





AUDITORS: TTCA Limited
Chartered accountants and statutory auditor
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2023

The director presents his strategic report of the company and the group for the year ended 31 May 2023.

Floorspan Investments Limited is a holding company. Floorspan Contracts Limited and Floorspan Holdings Limited are subsidiaries of Floorspan Investments Limited. The Group's trade is predominantly carried out by Floorspan Contracts Limited; this company's principal activities are the Design, Delivery, Installation and Manufacture of Pre-Stressed Concrete Products for the Construction Industry. Floorspan Holdings Limited holds the majority of Group's trading assets, including the industrial property.

The financial year 2022/2023 was one of relative commercial, economic and political stability compared to recent years and I am pleased to report that the Floorspan Group has again achieved a strong financial performance.
With continued financial and commercial prudence and acumen we have been able to grasp opportunities available to us in the construction industry and further strengthen our balance sheet and cash reserves.

Throughout the year uncertainty grew surrounding the economy and the prospect of a recession increased, although fortunately one did not fully materialise.

Of equal concern were the cost of living challenges faced by our staff. Following a strong financial performance, we were able to recognise and support our staff with the largest percentage pay rise in our history. We are fortunate to have a capable, skilled workforce and will continue to invest in our people and implement progressive measures to recognise their hard work.

I maintain a strategic role in the business, with oversight of key decisions that relate to our future growth, prosperity and sustainability.

I entrust the day-to-day running of the business to the experienced, established Senior Management Team who have long demonstrated their careful stewardship of our family business.
Looking to the future as we grow and diversify, we have begun a special initiative to focus on the next generation of leaders and have established a new Management Team. This Management Team, primarily promoted from within have been selected based on their experience, knowledge, skills, and aptitude - blending practical experience and academic qualifications. We will now mentor them on their journey to become future leaders of our business.

ON BEHALF OF THE BOARD:





N K Dighton - Director


20 February 2024

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MAY 2023

The director presents his report with the financial statements of the company and the group for the year ended 31 May 2023.

DIVIDENDS
An interim dividend of £1250 per share was paid on the Ordinary £1 shares on 1 June 2022. No dividends were paid on the Ordinary 2 £1 shares.

The total distribution of dividends for the year ended 31 May 2023 will be £ 275,000 .

DIRECTOR
N K Dighton held office during the whole of the period from 1 June 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he 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 group's auditors are aware of that information.

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MAY 2023


AUDITORS
The auditors, TTCA Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





N K Dighton - Director


20 February 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FLOORSPAN INVESTMENTS LIMITED

Opinion
We have audited the financial statements of Floorspan Investments Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:
- give a true and fair view of the state of the company's affairs as at 31st May 2023 and of the company's 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 qualified 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 group 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. Because we were appointed auditors of the Company after 31 May 2022, we were not able to observe the counting of the physical inventories at the beginning or end of that period or satisfy ourselves concerning those stock quantities by alternative means. Since opening and closing stock affects the determination of the results of operations, we were unable to determine whether adjustments to the results of operations and opening retained earnings might be necessary for 2022. Our audit opinion on the financial statements for the period ended May 31, 2023 is modified accordingly as the comparatives form part of these accounts.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FLOORSPAN INVESTMENTS LIMITED


Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FLOORSPAN INVESTMENTS LIMITED


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

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

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general auditing and accounting experience and through discussion with the directors and other management (as required by auditing standards), the polices and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statement, for instance through the imposition of fines or litigation. We indemnified areas as those most likely to have such an effect such as anti bribery and certain aspects of company legislation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any.


As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FLOORSPAN INVESTMENTS LIMITED

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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
FLOORSPAN INVESTMENTS LIMITED


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.




Thomas McManners BSc ACA (Senior Statutory Auditor)
for and on behalf of TTCA Limited
Chartered accountants and statutory auditor
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY

20 February 2024

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 MAY 2023

2023 2022
Notes £    £   

TURNOVER 20,848,004 19,861,080

Cost of sales 14,542,729 14,197,494
GROSS PROFIT 6,305,275 5,663,586

Administrative expenses 3,330,881 3,052,939
2,974,394 2,610,647

Other operating income 88,852 88,852
OPERATING PROFIT 5 3,063,246 2,699,499

Interest receivable and similar
income

73,677

8,361
3,136,923 2,707,860

Interest payable and similar
expenses

7

8,659

19,113
PROFIT BEFORE TAXATION 3,128,264 2,688,747

Tax on profit 8 559,450 427,137
PROFIT FOR THE FINANCIAL
YEAR

2,568,814

2,261,610
Profit attributable to:
Owners of the parent 2,568,814 2,261,610

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 2,568,814 2,261,610


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,568,814

2,261,610

Total comprehensive income attributable to:
Owners of the parent 2,568,814 2,261,610

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

CONSOLIDATED BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 4,104,999 4,120,321
Investments 13 - -
4,104,999 4,120,321

CURRENT ASSETS
Stocks 14 384,605 471,833
Debtors 15 3,909,507 3,780,516
Cash at bank and in hand 5,711,026 3,018,036
10,005,138 7,270,385
CREDITORS
Amounts falling due within one
year

16

3,640,905

3,110,978
NET CURRENT ASSETS 6,364,233 4,159,407
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,469,232

8,279,728

CREDITORS
Amounts falling due after more
than one year

17

(84,259

)

(241,363

)

PROVISIONS FOR LIABILITIES 20 (407,861 ) (355,067 )
NET ASSETS 9,977,112 7,683,298

CAPITAL AND RESERVES
Called up share capital 21 105 105
Share premium 22 61,510 61,510
Retained earnings 22 9,915,497 7,621,683
SHAREHOLDERS' FUNDS 9,977,112 7,683,298

The financial statements were approved by the director and authorised for issue on 20 February 2024 and were signed by:





N K Dighton - Director


FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

COMPANY BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 101 101
101 101

CURRENT ASSETS
Debtors 15 1,797,600 2,927,895
Cash at bank 3,801,005 1,395,419
5,598,605 4,323,314
CREDITORS
Amounts falling due within one
year

16

1,499,124

-
NET CURRENT ASSETS 4,099,481 4,323,314
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,099,582

4,323,415

CAPITAL AND RESERVES
Called up share capital 21 105 105
Share premium 61,510 61,510
Retained earnings 4,037,967 4,261,800
SHAREHOLDERS' FUNDS 4,099,582 4,323,415

Company's profit for the financial
year

51,167

2,265,000

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 February 2024 and were signed by:





N K Dighton - Director


FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   

Balance at 1 June 2021 105 5,625,073 61,510 5,686,688

Changes in equity
Dividends - (265,000 ) - (265,000 )
Total comprehensive income - 2,261,610 - 2,261,610
Balance at 31 May 2022 105 7,621,683 61,510 7,683,298

Changes in equity
Dividends - (275,000 ) - (275,000 )
Total comprehensive income - 2,568,814 - 2,568,814
Balance at 31 May 2023 105 9,915,497 61,510 9,977,112

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   

Balance at 1 June 2021 105 2,261,800 61,510 2,323,415

Changes in equity
Dividends - (265,000 ) - (265,000 )
Total comprehensive income - 2,265,000 - 2,265,000
Balance at 31 May 2022 105 4,261,800 61,510 4,323,415

Changes in equity
Dividends - (275,000 ) - (275,000 )
Total comprehensive income - 51,167 - 51,167
Balance at 31 May 2023 105 4,037,967 61,510 4,099,582

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,614,001 3,282,187
Interest paid (641 ) (6,090 )
Interest element of hire purchase
payments paid

(8,018

)

(13,023

)
Tax paid (344,535 ) (214,462 )
Net cash from operating activities 3,260,807 3,048,612

Cash flows from investing activities
Purchase of tangible fixed assets (656,276 ) (1,162,786 )
Sale of tangible fixed assets 43,590 20,045
Interest received 73,677 8,361
Net cash from investing activities (539,009 ) (1,134,380 )

Cash flows from financing activities
Loan repayments in year (92,345 ) (233,135 )
Capital repayments in year (127,433 ) (28,565 )
Amount introduced by directors 619,527 575,995
Amount withdrawn by directors (153,557 ) (501,495 )
Equity dividends paid (275,000 ) (265,000 )
Net cash from financing activities (28,808 ) (452,200 )

Increase in cash and cash equivalents 2,692,990 1,462,032
Cash and cash equivalents at
beginning of year

2

3,018,036

1,556,004

Cash and cash equivalents at
end of year

2

5,711,026

3,018,036

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 3,128,264 2,688,747
Depreciation charges 624,593 586,372
Loss/(profit) on disposal of fixed assets 3,415 (5,606 )
Finance costs 8,659 19,113
Finance income (73,677 ) (8,361 )
3,691,254 3,280,265
Decrease in stocks 87,228 655,029
Increase in trade and other debtors (128,991 ) (1,324,572 )
(Decrease)/increase in trade and other creditors (35,490 ) 671,465
Cash generated from operations 3,614,001 3,282,187

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 5,711,026 3,018,036
Year ended 31 May 2022
31.5.22 1.6.21
£    £   
Cash and cash equivalents 3,018,036 1,556,004


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 3,018,036 2,692,990 5,711,026
3,018,036 2,692,990 5,711,026
Debt
Finance leases (290,034 ) 127,433 (162,601 )
Debts falling due within 1 year (13,583 ) 13,583 -
Debts falling due after 1 year (78,762 ) 78,762 -
(382,379 ) 219,778 (162,601 )
Total 2,635,657 2,912,768 5,548,425

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

1. STATUTORY INFORMATION

Floorspan Investments Limited 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 General 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.

Judgements and key sources of estimation uncertainty
The preparation of these financial statements in conformity with United Kingdom Generally Accepted Accounting Practice requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include accrued income and deferred income.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits with flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on cost
Improvements to property - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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
2023 2022
£    £   
Wages and salaries 3,774,348 3,489,894
Social security costs 384,046 355,150
Other pension costs 148,646 141,922
4,307,040 3,986,966

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

3. EMPLOYEES AND DIRECTORS - continued

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

Directors 1 1
Direct 65 60
Administrative 44 41
110 102

The average number of employees by undertakings that were proportionately consolidated during the year was 110 (2022 - 102 ) .

4. DIRECTORS' EMOLUMENTS
2023 2022
£    £   
Director's remuneration 9,100 8,883

5. OPERATING PROFIT

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

2023 2022
£    £   
Hire of plant and machinery 488,008 358,497
Other operating leases 76,583 61,400
Depreciation - owned assets 624,593 586,872
Loss/(profit) on disposal of fixed assets 3,415 (5,606 )

6. AUDITORS' REMUNERATION
2023 2022
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

19,810

19,350

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Mortgage 641 6,090
Hire purchase 8,018 13,023
8,659 19,113

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

8. 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 507,602 345,481
Over/under provision of tax (946 ) -
Total current tax 506,656 345,481

Deferred tax 52,794 81,656
Tax on profit 559,450 427,137

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

2023 2022
£    £   
Profit before tax 3,128,264 2,688,747
Profit multiplied by the standard rate of corporation tax in
the UK of 20.003 % (2022 - 19 %)

625,747

510,862

Effects of:
Expenses not deductible for tax purposes 413 8,184
Capital allowances in excess of depreciation - (32,713 )
Depreciation in excess of capital allowances 13,583 -
Research and development tax credit (80,293 ) (59,196 )
Total tax charge 559,450 427,137

9. 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.


10. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 267,857 257,857
Ordinary 2 shares of £1 each
Interim 7,143 7,143
275,000 265,000

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 30,800
AMORTISATION
At 1 June 2022
and 31 May 2023 30,800
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

12. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 June 2022 1,613,853 859,970 2,861,792
Additions - 72,155 135,165
Disposals - - -
At 31 May 2023 1,613,853 932,125 2,996,957
DEPRECIATION
At 1 June 2022 332,269 403,539 1,503,984
Charge for year 52,621 78,187 209,832
Eliminated on disposal - - -
At 31 May 2023 384,890 481,726 1,713,816
NET BOOK VALUE
At 31 May 2023 1,228,963 450,399 1,283,141
At 31 May 2022 1,281,584 456,431 1,357,808

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

12. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 127,394 1,997,562 185,363 7,645,934
Additions - 447,007 1,949 656,276
Disposals - (197,542 ) (64,789 ) (262,331 )
At 31 May 2023 127,394 2,247,027 122,523 8,039,879
DEPRECIATION
At 1 June 2022 106,253 1,067,512 112,056 3,525,613
Charge for year 5,291 238,516 40,146 624,593
Eliminated on disposal - (150,537 ) (64,789 ) (215,326 )
At 31 May 2023 111,544 1,155,491 87,413 3,934,880
NET BOOK VALUE
At 31 May 2023 15,850 1,091,536 35,110 4,104,999
At 31 May 2022 21,141 930,050 73,307 4,120,321

13. FIXED ASSET INVESTMENTS

Company
Other
investmen
£   
COST
At 1 June 2022
and 31 May 2023 101
NET BOOK VALUE
At 31 May 2023 101
At 31 May 2022 101

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

13. 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:

Subsidiaries

Floorspan Contracts Limited
Registered office: 9 Commerce Road, Lynch Wood, Peterborough, United Kingdom, PE2 6LR
Nature of business: See note below
%
Class of shares: holding
Ordinary 100.00

The nature of the business is as follows: The delivery, installation and manufacture of pre-stressed concrete products for the construction industry.

Floorspan Holdings Limited
Registered office: 9 Commerce Road, Lynch Wood, Peterborough, United Kingdom, PE2 6LR
Nature of business: Holding of capital assets for group's trade
%
Class of shares: holding
Ordinary 100.00

Abbey Developments (Peterborough) Limited
Registered office: 9 Commerce Road, Lynch Wood, Peterborough, United Kingdom, PE2 6LR
Nature of business: Residential property developments
%
Class of shares: holding
Ordinary 100.00


14. STOCKS

Group
2023 2022
£    £   
Raw materials 166,018 270,210
Finished goods 218,587 201,623
384,605 471,833

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 2,437,569 2,417,348 - -
Amounts owed by group undertakings - - 1,797,600 2,927,895
Other debtors 1,233,359 1,226,389 - -
Prepayments 238,579 136,779 - -
3,909,507 3,780,516 1,797,600 2,927,895

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 18)
-

13,583

-

-
Hire purchase contracts (see note 19)
78,342

127,433

-

-
Trade creditors 1,409,567 1,485,664 - -
Amounts owed to group undertakings - - 1,486,330 -
Tax 507,602 345,481 12,794 -
Social security and other taxes 115,304 107,524 - -
VAT 54,821 42,885 - -
Other creditors 299,544 262,057 - -
Directors' loan accounts 484,269 18,299 - -
Deferred income 373,579 467,302 - -
Accrued expenses 317,877 240,750 - -
3,640,905 3,110,978 1,499,124 -

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group
2023 2022
£    £   
Bank loans (see note 18) - 78,762
Hire purchase contracts (see note 19)
84,259

162,601
84,259 241,363

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

18. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans - 13,583
Amounts falling due between one and two years:
Bank loans - 1-2 years - 14,017
Amounts falling due between two and five years:
Bank loans - 2-5 years - 44,796
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal - 19,949

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 78,342 127,433
Between one and five years 84,259 162,601
162,601 290,034

20. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 407,861 355,067

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

20. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 June 2022 355,067
Provided during year 52,794
Balance at 31 May 2023 407,861

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
5 Ordinary 2 £1 5 5
105 105

22. RESERVES

Group
Retained Share
earnings premium Totals
£    £    £   

At 1 June 2022 7,621,683 61,510 7,683,193
Profit for the year 2,568,814 2,568,814
Dividends (275,000 ) (275,000 )
At 31 May 2023 9,915,497 61,510 9,977,007


23. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
N K Dighton
Balance outstanding at start of year (18,299 ) 56,200
Amounts advanced 153,557 501,495
Amounts repaid (619,527 ) (575,994 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (484,269 ) (18,299 )

FLOORSPAN INVESTMENTS LIMITED (REGISTERED NUMBER: 11009024)

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

24. RELATED PARTY DISCLOSURES

Westview Investments (Peterborough) Limited is a company in which N K Dighton is a director. This company is owned by Westview Holdings Limited; N K Dighton is also a director of Westview Holdings Limited. N K Dighton and his wife, Mrs S J Dighton, each own 12% of the shares in Westview Holdings Limited.

The companies have provided an unsecured and interest-free loan to Westview Investments (Peterborough) Limited. At the balance sheet date, the amount loaned was £644,803 (2022: £58,045). Interest is to be charged from 01 June 2023 as per the bank of England base rate.

In addition to this, the company also leases commercial property from Westview Investments (Peterborough) Limited. During the year, the company paid £62,650 (2022: £57,700) to Westview Investments (Peterborough) Limited in respect of rental charges.

The company has made loans to L J Dighton, the son of N K Dighton. At the balance sheet date, the amount loaned to L J Dighton was £297,128 (2022: £205,571). Interest is charged on this loan at the HMRC beneficial interest rate. The loan is unsecured.

The company has made loans to Mrs L L Hart, the daughter of N K Dighton. At the balance sheet date, the amount loaned to Mrs L L Hart was £39,577 (2022: £15,373). Interest is charged on this loan at the HMRC beneficial interest rate. The loan is unsecured.

The company has made loans to Norfolk Coastal Developments Limited, a company which is owned equally by N K Dighton, Mrs S J Dighton, L C Dighton, L J Dighton and Mrs L L Hart. N K Dighton is also a director of this company. At the balance sheet date, the amount loaned to Norfolk Coastal Developments Limited was fully paid in January 2023 (2022: £539,041). This loan was unsecured and interest-free.

25. ULTIMATE CONTROLLING PARTY

The controlling party is N K Dighton.