The director presents the strategic report for the period 18 month trading period ended 30 June 2023.
We aim to present a balanced and comprehensive review of the development and performance of our group activities during the reporting period and the position at the period end. The review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties we face.
We consider that our key financial performance indicators are those that communicate the financial performance and strength of the Group as a whole, including maintaining margins in a period of volatile inflation, managing stock levels and supporting customers with suitable credit limited during challenging times. We track performance against industry indices to aid focus and understanding of trends across our sector.
Turnover and gross margin of the Group were as follows:
18 months to 30 June 2023 Year ended 31 December 2021
£ £
Turnover 34,631,751 24,048,431
Gross profit 11,140,546 7,958,529
Gross profit (%) 32.17 33.09
The group operates 2 complementary trading businesses. It operates builders’ merchants with kitchen and bathroom centres as well as specialist timber and landscaping centres in Warwickshire and Gloucestershire supplying independent builders and the general public. It also operates a fencing manufacturing business selling to national and regional fencing contractors.
Trading performance in the 18 month period to June 2023
The reported period includes stable trading in 2022 for all group businesses when compared to the prior financial period. The Group’s customer base is dependent upon consumer home investment and repair activity and new house building. Consumer driven demand remained strong however the sharp reduction in house building in 2023 compared to 2022 combined with benign weather conditions in 2023 caused some oversupply as well as demand contraction for fencing products. The prior financial period reflects the unusual profitability of the sector which benefitted from consumer investment in their homes with changing work conditions post covid.
Business Environment in the 18 month period to June 2023
The Group’s sectors continued to experience the economic challenges post Covid and from the impact of the Ukraine war on supply chain efficiency and pricing. Timber pricing remained particularly volatile with other key costs subject to inflation, particularly fuel, power and wages. Consumer demand was tempered by the cost of living crisis and rising Bank of England Base Rates. As a result of the overall outlook for the Group, the Group boards instigated a strategic review to identify opportunity to improve the customer offering and service, replacing and streamlining product ranges. New software was introduced to improve efficiency and responsiveness as well as control and reporting. The Group continue to prioritise providing a good working environment for its valued staff, investing in skills development and career progression,
Since the period end, the Group has achieved key parts of its strategic review, divesting of one builders’ merchant branch to a trade buyer and reduced its substantial freehold property estate to improve focus on core activity and ensure high levels of liquidity are maintained. There are positive indicators from a reduction in mortgage rates and expectations of base rate reductions with the rate of inflation reducing that should improve trading conditions for the Group businesses.
On behalf of the board
The director presents his annual report and financial statements for the period ended 30 June 2023.
The director who held office during the period and up to the date of signature of the financial statements was as follows:
The results for the period are set out on page 8.
Ordinary dividends were paid amounting to £165,870. The director does not recommend payment of a further dividend.
The auditor, JW Hinks LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
We have audited the financial statements of BPS Warwick Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 June 2023 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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).
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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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.
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 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.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the director's report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report.
We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
As explained more fully in the director's responsibilities statement, 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 is 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 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 parent company or to cease operations, or has no realistic alternative but to do so.
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 and discussed the policies and procedures regarding compliance.
Specific areas considered were as follows:
Enquiring with management and others to gain an understanding of the organisation itself including operations, financial reporting and known fraud or error.
Evaluating and understanding the internal control system.
Performing analytical procedures as expected or unexpected variances in account balances or classes of transactions appear.
Testing documentation supporting account balances or classes of transactions.
Observing the physical stock count where appropriate.
Confirming accounts receivable and other accounts as appropriate.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected all irregularities including those leading to material misstatements in the financial statements or non-compliance with regulation, even though we have properly planned and performed our audit in accordance with auditing standards.
This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's 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 an auditor's report 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.
The profit and loss account has been prepared on the basis that all operations are continuing operations.
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the period was £172,884 (2021 - £149,501 profit).
BPS Warwick Limited is a company limited by shares incorporated in England and Wales. The registered office is Tachbrook Park Drive, Tachbrook Park, Leamington Spa, Warwickshire, CV34 6RH.
The Group consists of BPS Warwick Limited and all of its subsidiaries.
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.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the period was £172,884 (2021 - £149,501 profit).
The current year amounts presented in the financial statements (including the related notes) are not entirely comparable as they relate to a 18 months period to 30 June 2023. The period was extended as part of an internal reorganisation.
Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.
Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.
If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.
Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future on the grounds that their bankers have confirmed continued support. There has also been the sale of a freehold property and sale of trade and assets post year end which has improved cashflow. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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.
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 recognised in the profit and loss account.
At each reporting period end date, the group 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.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
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.
The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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, 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.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
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 group after deducting all of its 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.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group 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 group.
The tax expense represents the sum of the tax currently payable and deferred 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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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 if, and only if, there is 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.
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.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
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.
During the year the company changed its accounting policy in respect of freehold property valuation from the cost model to the revaluation model. This change in policy has been done so that the financial statements can provide reliable and more relevant information.
In the application of the group’s accounting policies, the director is 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.
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Goods for resale are valued on a moving average basis using the cost of the stock. The year end valuation is calculated using the average cost and the physical stock held.
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.
A provision is included in the accounts for stock that has not moved in the last 12 months. Each line is categorised and an appropriate stock is provision is applied based on changes in trends and tastes.
An analysis of the group's turnover is as follows:
The average monthly number of persons (including directors) employed by the group and company during the period was:
Their aggregate remuneration comprised:
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2021: 2).
The actual charge for the period can be reconciled to the expected (credit)/charge for the period based on the profit or loss and the standard rate of tax as follows:
Included in the cost of freehold property is freehold land of £1,925,613 (31 December 2021 - £1,925,613) which is not depreciated.
Land and buildings with a carrying amount of £ £9,005,000 were revalued by as follows:
1) Bidford - Harris Lamb Property Consultancy on 13 January 2022
2) Tachbrook Park - FHP on 15 September 2023
3) Tewksbury - Harrislamb Property Consultancy on 4 February 2021
4) Shipston - Innes England on 13 December 2023
5) Hermes Close - Innes England on 14 December 2023
The independent valuers were not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.
The revaluation surplus is disclosed in note 25.
The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:
Building and Plumbing Supplies Limited
HSBC Bank Plc hold a legal mortgage dated 6 April 2018 over the freehold property known as land at Shannon Way, Tewkesbury.
HSBC Bank Plc Multilateral Guarantee dated 2 June 2016 given by BPS Warwick Limited, Building Plumbing Supplies Limited, John Grimes Fencing Limited and Dibble Developments Limited.
HSBC Bank Plc hold a legal mortgage dated 1 December 2014 over the freehold property known as land at Tachbrook Park Estate, Leamington Spa.
They also hold a first legal charge dated 20 September 2011 over land lying to the South West of, Queensway, Leamington Spa.
They also hold a debenture including a fixed charge over all present freehold and leasehold property. First fixed charge over book and other debts, chattels, goodwill and uncalled capital. both present and future, and first floating charge over all assets and undertaking both present and future dated 19 May 2010.
They also hold a legal mortgage over the freehold property known as unit 5A and plot 5B, Waterloo Industrial Estate, Waterloo Road, Bidford-on-Avon, Alcester, B50 4JH dated 8 February 2019.
They also hold a legal charge dated 2 February 2024 over Unit 5 Hermes court and Unit 1 Shipston.
The obligations under finance leases are secured against the assets to which they relate.
Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
Deferred tax assets and liabilities are offset where the group or company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
The Group is controlled by the Dibble family by virtue of them owning 100% of the issued share capital in BPS Warwick Limited.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Amounts contracted for but not provided in the financial statements:
During 2024, the group sold a property for £1.2m and assets of one branch for a total of £1,532,468.
The remuneration of key management personnel is as follows.
The company has taken advantage of exemption of Section 33 of FRS 102 Related Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.
Building and Plumbing Supplies Limited
J R Dibble is a director of the company and purchased goods at arms length amounting to £32,436 during the period (2021: £973). At 30 June 2023 the amount due from J R Dibble was £44,892 (2021: £nil).
E M Dibble is a director of the company and purchased goods at arms length amounting to £316 during the period (2021: £448). At 30 June 2023 the amount due from E M Dibble was £1,760 (2021: £nil).
G N Stanley is a director of the company and purchased goods at arms length amounting to £154 during the period (2021: £568). At 30 June 2023 the amount due from G N Stanley was £3 (2021: £143).
D I Battin is a director of the company and purchased goods at arms length amounting to £295 during the period (2021: £230). At 30 June 2023 the amount due from D I Battin was £53 (2021: £14).
M Cook is a director of the company and purchased goods at arms length amounting to £188 during the period (2021: £1,621). At 30 June 2023 the amount due from M Cook was £98 (2021: £480).
A Collins is a director of the company and purchased goods at arms length amounting to £1,340 during the period (2021: £2,055). At 30 June 2023 the amount due from A Collins was £2 (2021: £85).
John Grimes Fencing Limited
As at 30 June 2023 an amount of £Nil (2021: £31,500) was due to The Building and Plumbing Supplies Limited SSAS from John Grimes Fencing Limited. The scheme also charged rent of £177,374 (2021: £104,894 for 12 months) to John Grimes Fencing Limited during the 18 month period.
The Building and Plumbing Supplies Limited SSAS owns the premises from which John Grimes Fencing Limited trades from and the SSAS is controlled by the Dibble family.
Details of the company's subsidiaries at 30 June 2023 are as follows: