Company registration number 07329298 (England and Wales)
H C HOLDINGS (SOUTHAMPTON) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
H C HOLDINGS (SOUTHAMPTON) LIMITED
COMPANY INFORMATION
Directors
D A Hobbs
C D Hobbs
Secretary
D A Hobbs
Company number
07329298
Registered office
c/o Azets
Lulworth Close
Chandlers Ford
Hampshire
SO53 3TL
Auditor
Azets Audit Services
Secure House
Lulworth Close
Chandlers Ford
Southampton
Hampshire
SO53 3TL
H C HOLDINGS (SOUTHAMPTON) LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Independent auditor's report
6 - 8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Company statement of cash flows
15
Notes to the financial statements
16 - 30
H C HOLDINGS (SOUTHAMPTON) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023
- 1 -

The directors present their strategic report for the year ended 31 July 2023.

 

Principal activity

The company's principal activity is that of the holding company for the group, the principal activity of which is printing. There has not been any change in the year under review and the directors are not aware, at the date of this report, of any likely major change in the company's or group's activities in the current year.

 

Overall Strategy

The group's overall strategy is to maintain and grow a high quality printing business delivering high value to its customers, employees and shareholders. This is achieved by:

 

Fair review of the business

Sales for the year increased by £1,439,185 (12.8%) to £12,688,970 (£11,249,785 in 2021/22). Gross profit increased by £573,790 to £2,532,845 (£1,959,055 in 2021/22). Profit before tax increased to £617,093 (£403,981 in 2021/22).

 

The group invested a further £975,626 in new plant during the year, bringing the cost of the group's investment in capital equipment to £17,715,198. Profit after tax increased to £495,904 (£136,268 in 2021/22). The directors believe that ultimately the group's policy of continued investment in new technology is essential for continuing success in the industry, but given the ongoing economic uncertainties brought about by the pandemic's effect and the war in Ukraine on the global economy, they continue to monitor and amend capital expenditure programmes as necessary.

 

There were no significant events after the balance sheet date.

H C HOLDINGS (SOUTHAMPTON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
Principal risks

As a holding company, the principal risks are in relation to the performance of its subsidiary undertaking.

 

Due to the pandemic and the impact of the war in Ukraine the group closely monitors revenue streams and affected supply chains.

 

Market: Competition from key competitors and pressure on margins.

The group endeavours to ameliorate this risk by continuing to explore alternative markets, adding value to its services, providing fast response times and maintaining strong relationships with its customers.

 

IT Systems: Sufficiently rapid access to and accuracy of data; cyber security.

The group continues to attach great importance to its IT systems and their regular upgrading with direct participation at board level.

 

Reputation: Quality of products and services; information security.

The group places great emphasis on security awareness, particularly at mid and high management levels.

 

Credit and cash flow:

The group ensures that appropriate due diligence is carried out on new customers and maintains a strong emphasis on the management of good credit control overall.

 

Interest rates: Exposure to cash flow interest rate risk.

The group traditionally has ensured that it has no requirement for any significant borrowings and thus has no significant exposure to interest rate risk.

 

Liquidity: Exposure to inadequate cash flows.

The combined availability of bank balances and continued strong positive cash flows prevents any significant exposure to liquidity risk.

Monitoring performance

The group monitors its performance using the following key performance indicators:

 

 

2023

2022

Turnover

£12,688,970

£11,249,785

Gross Profit Margin

19.96%

17.41%

Profit before tax

£617,093

£403,981

Liquidity: current assets to current liabilities

3.60 times

4.92 times

Return on capital employed

4.48%

2.87%

 

H C HOLDINGS (SOUTHAMPTON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
Other information and explanations

Employee involvement

Details of the number of employees and related costs are shown in note 6 to the financial statements.

Environmental matters

The group recognises the importance of its environmental responsibilities, monitors its impact on the environment, and designs and implements policies to reduce any damage that might be caused by the group's activities. The group has accreditation under the Forestry Stewardship Council's Chain of Custody Standard and the Environmental Standard ISO 14001. The group has been awarded the Gold Medal for sustainability by Ecovadis, putting the group within the top 5% of the 100,000 plus companies assessed by Ecovadis globally.

Approved by the Board and signed on its behalf by:

D A Hobbs
Director
5 January 2024
H C HOLDINGS (SOUTHAMPTON) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2023
- 4 -

The directors present their annual report and financial statements for the year ended 31 July 2023.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

D A Hobbs
C D Hobbs
P M Hobbs
(Resigned 28 February 2023)

Strategic Report

In accordance with the Companies Act the Strategic Report on pages 1 to 3 provides a fair review of the group's business and description of the principal risks and uncertainties facing the group. It also contains information on the group's performance and strategy.

Results and dividends

The results for the year are set out on page 9. A summary of the group's results for the year are set out in the review of the business section of the Strategic Report. Profit after tax was £495,904 (2022 - £136,268).

 

Ordinary dividends were paid amounting to £149,981 (2022 - £299,798). The directors do not recommend payment of a final dividend.

Auditor

In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be put at the forthcoming Annual General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report 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). 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

H C HOLDINGS (SOUTHAMPTON) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
Donations

During the year the group made charitable donations of £7,103 (2022 - £12,587). There were no political contributions.

Approved by the Board and signed on its behalf by:
D A Hobbs
Director
5 January 2024
H C HOLDINGS (SOUTHAMPTON) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF H C HOLDINGS (SOUTHAMPTON) LIMITED
- 6 -
Opinion

We have audited the financial statements of HC Holdings (Southampton) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 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).

In our opinion the financial statements:

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 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.

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 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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

H C HOLDINGS (SOUTHAMPTON) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF H C HOLDINGS (SOUTHAMPTON) LIMITED
- 7 -
Matters on which we are required to report by exception

In the light of our 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 strategic report and the directors' report.

 

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:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 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 directors are 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 directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 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.

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.

H C HOLDINGS (SOUTHAMPTON) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF H C HOLDINGS (SOUTHAMPTON) LIMITED
- 8 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

 

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.  Based on this understanding, we 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.  This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

 

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

 

 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  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 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.

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 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.

Michael Wesley FCA (Senior Statutory Auditor)
For and on behalf of Azets Audit Services
12 January 2024
Chartered Accountants
Statutory Auditor
Secure House
Lulworth Close
Chandlers Ford
Southampton
Hampshire
SO53 3TL
H C HOLDINGS (SOUTHAMPTON) LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2023
- 9 -
2023
2022
Notes
£
£
Turnover
3
12,688,970
11,249,785
Cost of sales
(10,156,125)
(9,290,730)
Gross profit
2,532,845
1,959,055
Distribution costs
(217,832)
(210,433)
Administrative expenses
(1,722,365)
(1,383,126)
Other operating income
-
27,914
Operating profit
4
592,648
393,410
Interest receivable and similar income
8
24,445
10,571
Profit before taxation
617,093
403,981
Tax on profit
9
(121,189)
(267,713)
Profit for the financial year
495,904
136,268
Other comprehensive income
Tax relating to other comprehensive income
-
0
(166,977)
Total comprehensive income for the year
495,904
(30,709)
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
H C HOLDINGS (SOUTHAMPTON) LIMITED
GROUP BALANCE SHEET
AS AT 31 JULY 2023
31 July 2023
- 10 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
10
7,400
-
0
Tangible assets
11
9,714,971
9,474,852
9,722,371
9,474,852
Current assets
Stocks
14
909,760
1,164,876
Debtors
15
2,038,590
2,317,382
Investments
16
24,000
24,000
Cash at bank and in hand
1,894,643
1,809,345
4,866,993
5,315,603
Creditors: amounts falling due within one year
17
(1,353,095)
(1,080,961)
Net current assets
3,513,898
4,234,642
Total assets less current liabilities
13,236,269
13,709,494
Provisions for liabilities
Deferred tax liability
18
1,583,410
1,465,558
(1,583,410)
(1,465,558)
Net assets
11,652,859
12,243,936
Capital and reserves
Called up share capital
20
10,790
16,890
Non-distributable profit and loss reserves
2,060,929
2,060,929
Capital redemption reserve
6,100
-
0
Distributable profit and loss reserves
9,575,040
10,166,117
Total equity
11,652,859
12,243,936
The financial statements were approved by the board of directors and authorised for issue on 5 January 2024 and are signed on its behalf by:
05 January 2024
D A Hobbs
Director
H C HOLDINGS (SOUTHAMPTON) LIMITED
COMPANY BALANCE SHEET
AS AT 31 JULY 2023
31 July 2023
- 11 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
11
6,553,901
6,552,911
Investments
12
4,715,468
4,715,468
11,269,369
11,268,379
Current assets
Debtors
15
4,933
2,840
Investments
16
24,000
24,000
Cash at bank and in hand
340,459
346,243
369,392
373,083
Creditors: amounts falling due within one year
17
(2,163,035)
(1,321,899)
Net current liabilities
(1,793,643)
(948,816)
Total assets less current liabilities
9,475,726
10,319,563
Provisions for liabilities
Deferred tax liability
18
1,017,028
1,014,820
(1,017,028)
(1,014,820)
Net assets
8,458,698
9,304,743
Capital and reserves
Called up share capital
20
10,790
16,890
Non-distributable profit and loss reserves
2,060,929
2,060,929
Capital redemption reserve
6,100
-
0
Distributable profit and loss reserves
6,380,879
7,226,924
Total equity
8,458,698
9,304,743

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 year was £240,936 (2022 - £29,124 loss).

The financial statements were approved by the board of directors and authorised for issue on 5 January 2024 and are signed on its behalf by:
05 January 2024
D A Hobbs
Director
Company Registration No. 07329298
H C HOLDINGS (SOUTHAMPTON) LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023
- 12 -
Share capital
Non-distributable profit and loss reserves
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 August 2021
16,890
2,227,906
-
0
10,329,647
12,574,443
Year ended 31 July 2022:
Profit for the year
-
-
-
136,268
136,268
Other comprehensive income:
Tax relating to other comprehensive income
-
(166,977)
-
-
0
(166,977)
Total comprehensive income for the year
-
(166,977)
-
136,268
(30,709)
Dividends
-
-
-
(299,798)
(299,798)
Balance at 31 July 2022
16,890
2,060,929
-
0
10,166,117
12,243,936
Year ended 31 July 2023:
Profit and total comprehensive income for the year
-
-
-
495,904
495,904
Dividends
-
-
-
(149,981)
(149,981)
Own shares acquired
(6,100)
-
6,100
(937,000)
(937,000)
Balance at 31 July 2023
10,790
2,060,929
6,100
9,575,040
11,652,859
H C HOLDINGS (SOUTHAMPTON) LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023
- 13 -
Share capital
Non-distributable profit and loss reserves
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 August 2021
16,890
2,227,906
-
0
7,555,846
9,800,642
Year ended 31 July 2022:
Loss for the year
-
-
-
(29,124)
(29,124)
Other comprehensive income:
Tax relating to other comprehensive income
-
(166,977)
-
-
0
(166,977)
Total comprehensive income for the year
-
(166,977)
-
(29,124)
(196,101)
Dividends
-
-
-
(299,798)
(299,798)
Balance at 31 July 2022
16,890
2,060,929
-
0
7,226,924
9,304,743
Year ended 31 July 2023:
Profit and total comprehensive income for the year
-
-
-
240,936
240,936
Dividends
-
-
-
(149,981)
(149,981)
Own shares acquired
(6,100)
-
6,100
(937,000)
(937,000)
Balance at 31 July 2023
10,790
2,060,929
6,100
6,380,879
8,458,698
H C HOLDINGS (SOUTHAMPTON) LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2023
- 14 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
2,099,206
309,204
Income taxes refunded/(paid)
2,654
(16,786)
Net cash inflow from operating activities
2,101,860
292,418
Investing activities
Purchase of intangible assets
(7,400)
-
Purchase of tangible fixed assets
(975,626)
(128,608)
Proceeds from disposal of tangible fixed assets
29,000
6,469
Interest received
24,445
10,571
Net cash used in investing activities
(929,581)
(111,568)
Financing activities
Purchase of own shares
(937,000)
-
0
Dividends paid to equity shareholders
(149,981)
(299,798)
Net cash used in financing activities
(1,086,981)
(299,798)
Net increase/(decrease) in cash and cash equivalents
85,298
(118,948)
Cash and cash equivalents at beginning of year
1,809,345
1,928,293
Cash and cash equivalents at end of year
1,894,643
1,809,345
H C HOLDINGS (SOUTHAMPTON) LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2023
- 15 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
27
1,088,103
315,692
Income taxes paid
(7,356)
(16,786)
Net cash inflow from operating activities
1,080,747
298,906
Investing activities
Purchase of tangible fixed assets
(990)
(21,581)
Interest received
1,440
1,440
Net cash generated from/(used in) investing activities
450
(20,141)
Financing activities
Purchase of own shares
(937,000)
-
0
Dividends paid to equity shareholders
(149,981)
(299,798)
Net cash used in financing activities
(1,086,981)
(299,798)
Net decrease in cash and cash equivalents
(5,784)
(21,033)
Cash and cash equivalents at beginning of year
346,243
367,276
Cash and cash equivalents at end of year
340,459
346,243
H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 16 -
1
Accounting policies
Company information

H C Holdings (Southampton) Limited ("the company") is a private company limited by shares and incorporated in England and Wales. The registered office is:

 

c/o Azets

Lulworth Close

Chandlers Ford

Hampshire

SO53 3TL

 

The principal place of business is:

 

Brunel Road

Totton

Hampshire

SO40 3WX

 

The group consists of H C Holdings (Southampton) Limited and its subsidiary.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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. The principal accounting policies adopted are set out below.

1.2
Basis of consolidation

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in the subsidiary, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 17 -

The consolidated financial statements incorporate those of H C Holdings (Southampton) Limited and its subsidiary (ie an entity that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits).

 

All financial statements are made up to 31 July 2023. Where necessary, adjustments are made to the financial statements of the subsidiary to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

1.3
Going concern

At the time of approving the financial statements, the directors confirm that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised as 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.

The Group recognises revenue when goods are delivered and title has been transferred to the customer. The parent company recognises revenue on a periodic basis from the provision of property to its subsidiary and from management's services.

1.5
Intangible fixed assets other than goodwill

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

No amortisation expense is incurred on domain names. The directors consider that the market value of these assets are greater than cost and thus their amortisation is insignificant. Any permanent diminution in the value of the domain names is recognised in profit or loss as appropriate.

1.6
Tangible fixed assets

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

 

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Plant and equipment
3 - 10 years straight line
Fixtures and fittings
7 years straight line
Motor vehicles
4 years straight line

Freehold land and buildings are held under the historical cost model in line with amendments made to FRS102 resulting from the Triennial Review 2017. Residual value is reviewed at each financial year end and if the same, or greater than book value, then there is no depreciable amount. Consequently, no depreciation has been recognised in the year under review.

H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 18 -
1.7
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

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.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
Cash and cash equivalents

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

H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 19 -
1.11
Financial instruments

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

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.

Impairment of financial assets

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.

Derecognition of financial assets

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 20 -
1.12
Equity instruments

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.

1.13
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The 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

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.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

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

1.16
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 21 -
1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

Judgements

 

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

 

Impairment of fixed assets

 

Determine whether there are any indications of impairment of the group's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.

 

Work in progress

 

Determine the stage of completion of work in progress and assess the progress of each contract.

 

Key sources of estimation uncertainty

 

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are detailed below:

 

Depreciation and residual values of fixed assets

 

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 project disposal values.

 

Allowances for doubtful debts

 

The group maintains allowances for doubtful debts for estimated losses resulting from the subsequent inability of customers to make required payments. If the financial conditions of customers were to deteriorate, resulting in impairment of the ability to make payments, additional allowances may be required in future periods.

 

Provisions for obsolete and slow moving stocks

 

The group maintains allowances for stock which is not expected to be, or is deemed difficult, to be utilised.

 

 

H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 22 -
3
Turnover and other revenue
2023
2022
£
£
Turnover analysed by class of business
Sales of goods and services
12,688,970
11,249,785

All turnover has been generated within the United Kingdom.

2023
2022
£
£
Other revenue
Interest income
24,445
10,571
Grants received
-
27,914
4
Operating profit
2023
2022
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange gains
(45,441)
(37,983)
Government grants
-
(27,914)
Depreciation of owned tangible fixed assets
693,153
762,888
Loss on disposal of tangible fixed assets
13,354
5,903
5
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
4,125
3,300
Audit of the financial statements of the company's subsidiaries
12,100
9,670
16,225
12,970
H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 23 -
6
Employees

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

Group
Company
2023
2022
2023
2022
Number
Number
Number
Number
Production
105
99
-
-
Adminstration and Support
18
19
-
-
Directors
3
3
3
3
Total
126
121
3
3

Their aggregate remuneration comprised:

Group
Company
2023
2022
2023
2022
£
£
£
£
Wages and salaries
3,777,376
3,536,492
90,332
68,751
Social security costs
339,844
338,270
10,977
8,821
Pension costs
427,888
229,089
180,000
25,000
4,545,108
4,103,851
281,309
102,572
7
Directors' remuneration
2023
2022
£
£
Remuneration for qualifying services
171,310
125,039
Company pension contributions to defined contribution schemes
180,000
25,000
351,310
150,039

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2022 - 1).

 

8
Interest receivable and similar income
2023
2022
£
£
Interest income
Interest on bank deposits
22,114
9,131
Other interest income
2,331
1,440
Total income
24,445
10,571
H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 24 -
9
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
3,337
147,380
Adjustments in respect of prior periods
-
0
1,752
Total current tax
3,337
149,132
Deferred tax
Origination and reversal of timing differences
117,852
118,581
Total tax charge
121,189
267,713

Reconciliation of the charge for the year with tax at the standard rate on the profit before tax as shown in the group statement of comprehensive income:

2023
2022
£
£
Profit before taxation
617,093
403,981
Expected tax charge based on the standard rate of corporation tax in the UK of 21.00% (2022: 19.00%)
129,590
76,756
Tax effect of expenses that are not deductible in determining taxable profit
5,060
2,224
Adjustments in respect of prior years
-
0
1,752
Deferred tax expense
-
0
118,581
Tax increase/(decrease) from effect of capital allowances and depreciation
(35,836)
68,400
Deferred tax at different tax rate
22,375
-
0
Taxation charge
121,189
267,713

In addition to the amount charged to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:

2023
2022
£
£
Deferred tax arising on:
Revaluation of property
-
166,977
H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 25 -
10
Intangible fixed assets
Group
Domain name
£
Cost
At 1 August 2022
-
0
Additions
7,400
At 31 July 2023
7,400
Amortisation and impairment
At 1 August 2022 and 31 July 2023
-
0
Carrying amount
At 31 July 2023
7,400
At 31 July 2022
-
0
The company had no intangible fixed assets at 31 July 2023 or 31 July 2022.
11
Tangible fixed assets
Group
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2022
6,552,911
9,611,439
691,484
40,383
16,896,217
Additions
990
974,636
-
0
-
0
975,626
Disposals
-
0
(156,645)
-
0
-
0
(156,645)
At 31 July 2023
6,553,901
10,429,430
691,484
40,383
17,715,198
Depreciation and impairment
At 1 August 2022
-
0
6,905,002
502,864
13,499
7,421,365
Depreciation charged in the year
-
0
631,118
53,863
8,172
693,153
Eliminated in respect of disposals
-
0
(114,291)
-
0
-
0
(114,291)
At 31 July 2023
-
0
7,421,829
556,727
21,671
8,000,227
Carrying amount
At 31 July 2023
6,553,901
3,007,601
134,757
18,712
9,714,971
At 31 July 2022
6,552,911
2,706,437
188,620
26,884
9,474,852
H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
11
Tangible fixed assets
(Continued)
- 26 -
Company
Freehold land and buildings
£
Cost
At 1 August 2022
6,552,911
Additions
990
At 31 July 2023
6,553,901
Depreciation and impairment
At 1 August 2022 and 31 July 2023
-
0
Carrying amount
At 31 July 2023
6,553,901
At 31 July 2022
6,552,911
12
Fixed asset investments
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
4,715,468
4,715,468
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 August 2022 and 31 July 2023
4,715,468
Carrying amount
At 31 July 2023
4,715,468
At 31 July 2022
4,715,468
13
Subsidiaries

Details of the company's subsidiary at 31 July 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Hobbs The Printers Limited
Brunel Road, Totton, Hampshire, SO40 3WX
Ordinary shares
100.00
H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 27 -
14
Stocks
Group
Company
2023
2022
2023
2022
£
£
£
£
Raw materials and consumables
560,202
800,911
-
-
Work in progress
349,558
363,965
-
-
909,760
1,164,876
-
-
15
Debtors
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,511,645
1,717,910
-
0
-
0
Corporation tax recoverable
-
0
2,654
-
0
-
0
Other debtors
156,631
297,582
4,933
2,000
Prepayments and accrued income
370,314
299,236
-
0
840
2,038,590
2,317,382
4,933
2,840
16
Current asset investments
Group
Company
2023
2022
2023
2022
£
£
£
£
Unlisted investments
24,000
24,000
24,000
24,000
17
Creditors: amounts falling due within one year
Group
Company
2023
2022
2023
2022
£
£
£
£
Trade creditors
945,232
740,340
-
0
10,480
Amounts owed to group undertakings
-
0
-
0
2,115,182
1,303,406
Corporation tax payable
3,337
-
0
3,337
7,356
Other taxation and social security
77,349
75,026
-
0
657
Other creditors
4,909
4,793
-
0
-
0
Accruals and deferred income
322,268
260,802
44,516
-
0
1,353,095
1,080,961
2,163,035
1,321,899
H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 28 -
18
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2023
2022
Group
£
£
Accelerated capital allowances
897,540
779,628
Retirement benefit obligations
(1,107)
(1,047)
Revaluation of property, plant and equipment
686,977
686,977
1,583,410
1,465,558
Liabilities
Liabilities
2023
2022
Company
£
£
Accelerated capital allowances
330,051
327,843
Revaluation of property, plant and equipment
686,977
686,977
1,017,028
1,014,820
Group
Company
2023
2023
Movements in the year:
£
£
Liability at 1 August 2022
1,465,558
1,014,820
Charge to profit or loss
117,852
2,208
Liability at 31 July 2023
1,583,410
1,017,028
19
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
427,888
229,089

The group operates a number of defined contribution pension schemes for all qualifying employees. The assets of the schemes are held separately from those of the group in independently administered funds.

H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 29 -
20
Share capital
Group and company
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,790
16,890
10,790
16,890

During the year, the company purchased 6,100 ordinary shares (36%) with a nominal value of £1 each from a former director for consideration of £937,000.

21
Financial commitments, guarantees and contingent liabilities

H C Holdings (Southampton) Limited and Hobbs The Printers Limited have a group registration for Value Added Tax. The company therefore has a contingent liability in respect of amounts due to H M Revenue & Customs by its subsidiary undertaking. As at the balance sheet date, the amount due in respect of the contingent liability was £nil (2022 - £nil).

22
Capital commitments

At the year end, the group had a capital commitment to purchase plant and machinery for £6,710 (2022 - £720,000). Included within other debtors is £3,355 (2022 - £144,000) in respect of this capital commitment.

23
Related party transactions

During the year, the group and company received services totalling £nil (2022 - £10,000) from a company under control of a director. A balance of £nil (2022 - £nil) remained outstanding at the year end.

24
Directors' transactions

Dividends totalling £149,981 (2022 - £299,798) were paid in the year in respect of shares held by the company's directors.

25
Controlling party

The ultimate controlling party is D A Hobbs.

 

H C HOLDINGS (SOUTHAMPTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 30 -
26
Cash generated from group operations
2023
2022
£
£
Profit for the year after tax
495,904
136,268
Adjustments for:
Taxation charged
121,189
267,713
Investment income
(24,445)
(10,571)
Loss on disposal of tangible fixed assets
13,354
5,903
Depreciation and impairment of tangible fixed assets
693,153
762,888
Movements in working capital:
Decrease/(increase) in stocks
255,116
(578,835)
Decrease/(increase) in debtors
276,138
(269,775)
Increase/(decrease) in creditors
268,797
(4,387)
Cash generated from operations
2,099,206
309,204
27
Cash generated from operations - company
2023
2022
£
£
Profit/(loss) for the year after tax
240,936
(29,124)
Adjustments for:
Taxation charged
5,545
93,985
Investment income
(1,440)
(1,440)
Movements in working capital:
(Increase)/decrease in debtors
(2,093)
8,572
Increase in creditors
845,155
243,699
Cash generated from operations
1,088,103
315,692
28
Analysis of changes in net funds - group
1 August 2022
Cash flows
31 July 2023
£
£
£
Cash at bank and in hand
1,809,345
85,298
1,894,643
29
Analysis of changes in net funds - company
1 August 2022
Cash flows
31 July 2023
£
£
£
Cash at bank and in hand
346,243
(5,784)
340,459
2023-07-312022-08-01falseCCH SoftwareCCH Accounts Production 2023.300No description of principal activityC D HobbsP M HobbsP M HobbsD A Hobbsfalse07329298bus:Consolidated2022-08-012023-07-31073292982022-08-012023-07-3107329298bus:CompanySecretaryDirector12022-08-012023-07-3107329298bus:Director12022-08-012023-07-3107329298bus:CompanySecretary12022-08-012023-07-3107329298bus:Director22022-08-012023-07-3107329298bus:Director32022-08-012023-07-3107329298bus:RegisteredOffice2022-08-012023-07-3107329298bus:Consolidated2023-07-31073292982023-07-3107329298bus:Consolidated2021-08-012022-07-31073292982021-08-012022-07-3107329298core:RevaluationReservebus:Consolidated2021-08-012022-07-3107329298core:RevenueReservesInvestmentFundsOnlybus:Consolidated2021-08-012022-07-3107329298core:RevaluationReserve2021-08-012022-07-3107329298core:RetainedEarningsAccumulatedLosses2021-08-012022-07-3107329298core:OtherResidualIntangibleAssetsbus:Consolidated2023-07-3107329298core:OtherResidualIntangibleAssetsbus:Consolidated2022-07-3107329298core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2023-07-3107329298core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2022-07-3107329298bus:Consolidated2022-07-31073292982022-07-3107329298core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-07-3107329298core:PlantMachinerybus:Consolidated2023-07-3107329298core:FurnitureFittingsbus:Consolidated2023-07-3107329298core:MotorVehiclesbus:Consolidated2023-07-3107329298core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-07-3107329298core:PlantMachinerybus:Consolidated2022-07-3107329298core:FurnitureFittingsbus:Consolidated2022-07-3107329298core:MotorVehiclesbus:Consolidated2022-07-3107329298core:LandBuildingscore:OwnedOrFreeholdAssets2023-07-3107329298core:LandBuildingscore:OwnedOrFreeholdAssets2022-07-3107329298core:CurrentFinancialInstruments2023-07-3107329298core:CurrentFinancialInstruments2022-07-3107329298core:ShareCapitalbus:Consolidated2023-07-3107329298core:ShareCapitalbus:Consolidated2022-07-3107329298core:RevaluationReservebus:Consolidated2023-07-3107329298core:RevaluationReservebus:Consolidated2022-07-3107329298core:CapitalRedemptionReservebus:Consolidated2023-07-3107329298core:CapitalRedemptionReservebus:Consolidated2022-07-3107329298core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-07-3107329298core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-07-3107329298core:ShareCapital2023-07-3107329298core:ShareCapital2022-07-3107329298core:RevaluationReserve2023-07-3107329298core:RevaluationReserve2022-07-3107329298core:CapitalRedemptionReserve2023-07-3107329298core:CapitalRedemptionReserve2022-07-3107329298core:RetainedEarningsAccumulatedLosses2023-07-3107329298core:ShareCapitalbus:Consolidated2021-07-3107329298core:SharePremiumbus:Consolidated2021-07-3107329298core:CapitalRedemptionReservebus:Consolidated2021-07-3107329298core:RetainedEarningsAccumulatedLossesbus:Consolidated2021-07-3107329298core:ShareCapital2021-07-3107329298core:RevaluationReserve2021-07-3107329298core:CapitalRedemptionReserve2021-07-3107329298core:RetainedEarningsAccumulatedLosses2021-07-3107329298core:RetainedEarningsAccumulatedLosses2022-07-3107329298bus:Consolidated2022-07-3107329298bus:Consolidated2021-07-31073292982021-07-31073292982022-07-3107329298core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3107329298core:PlantMachinery2022-08-012023-07-3107329298core:FurnitureFittings2022-08-012023-07-3107329298core:MotorVehicles2022-08-012023-07-3107329298core:UKTaxbus:Consolidated2022-08-012023-07-3107329298core:UKTaxbus:Consolidated2021-08-012022-07-3107329298bus:Consolidated12022-08-012023-07-3107329298bus:Consolidated12021-08-012022-07-3107329298bus:Consolidated22022-08-012023-07-3107329298bus:Consolidated22021-08-012022-07-3107329298bus:Consolidated32022-08-012023-07-3107329298bus:Consolidated32021-08-012022-07-3107329298core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2022-07-3107329298core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillcore:ExternallyAcquiredIntangibleAssetsbus:Consolidated2022-08-012023-07-3107329298core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-07-3107329298core:PlantMachinerybus:Consolidated2022-07-3107329298core:FurnitureFittingsbus:Consolidated2022-07-3107329298core:MotorVehiclesbus:Consolidated2022-07-3107329298core:LandBuildingscore:OwnedOrFreeholdAssets2022-07-3107329298core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-08-012023-07-3107329298core:PlantMachinerybus:Consolidated2022-08-012023-07-3107329298core:FurnitureFittingsbus:Consolidated2022-08-012023-07-3107329298core:MotorVehiclesbus:Consolidated2022-08-012023-07-3107329298core:LandBuildingscore:OwnedOrFreeholdAssets2022-08-012023-07-3107329298core:CurrentFinancialInstrumentsbus:Consolidated2023-07-3107329298core:CurrentFinancialInstrumentsbus:Consolidated2022-07-3107329298core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-07-3107329298core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2022-07-3107329298core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3107329298core:CurrentFinancialInstrumentscore:WithinOneYear2022-07-3107329298bus:PrivateLimitedCompanyLtd2022-08-012023-07-3107329298bus:FRS1022022-08-012023-07-3107329298bus:Audited2022-08-012023-07-3107329298bus:ConsolidatedGroupCompanyAccounts2022-08-012023-07-3107329298bus:FullAccounts2022-08-012023-07-31xbrli:purexbrli:sharesiso4217:GBP