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Registration number: 04939570

Elite GB Environmental Services Ltd

Filleted Financial Statements

for the Year Ended 31 August 2023

 

Elite GB Environmental Services Ltd

Contents

Company Information

1

Directors' Report

2

Statement of Directors' Responsibilities

3

Independent Auditor's Report

4 to 7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10 to 18

 

Elite GB Environmental Services Ltd

Company Information

Directors

P Sayer

L Sayer

M Sayer

Registered office

Centurion House
London Road
Staines-Upon-Thames
Surrey
TW18 4AX

Bankers

HSBC Bank Plc
54 Clarence Street
Kingston-Upon-Thames
Surrey
KT1 1NS

Auditors

Johnson Smith & Co Ltd
Chartered Accountants and Statutory Auditors
Centurion House
London Road
Staines-Upon-Thames
Surrey
TW18 4AX

 

Elite GB Environmental Services Ltd

Directors' Report for the Year Ended 31 August 2023

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

Directors of the company

The directors who held office during the year were as follows:

P Sayer

L Sayer

M Sayer

Principal activity

The principal activity of the company is buying and selling of reclaimed building and demolition materials.

Going concern

The company's business activities, performance and position together with its principal risks and uncertainties are likely to affect its future development and performance. The directors, having made enquiries and reviewed the forecasts and in light of the opportunities and facilities available, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.Therefore, it is reasonable to continue to adopt the going concern basis in preparing the Annual Report and Accounts.

Events since the end of the year

Information relating to events since the end of the year is given in the notes to the financial statements.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 23 April 2024 and signed on its behalf by:
 

.........................................
P Sayer
Director

 

Elite GB Environmental Services Ltd

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities 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 company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Elite GB Environmental Services Ltd

Independent Auditor's Report to the Members of Elite GB Environmental Services Ltd

Opinion

We have audited the financial statements of Elite GB Environmental Services Ltd (the 'company') for the year ended 31 August 2023, which comprise the Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 August 2023 and of its profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

 

Elite GB Environmental Services Ltd

Independent Auditor's Report to the Members of Elite GB Environmental Services Ltd

Opinion on other matter prescribed by the Companies Act 2006

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

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in 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:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 3], 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor 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.

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

 

Elite GB Environmental Services Ltd

Independent Auditor's Report to the Members of Elite GB Environmental Services Ltd

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional
scepticism through the audit and we also;

- Identify and assess the risks of material misstatements of the financial statements , whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk pf 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 the internal control.

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

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

- Conclude on the appropriateness of director's use of going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern and report appropriate disclosures in the accounts or in our audit report.

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

- Evaluated the conduct of operations in relation to laws and other regulations including but not limited to, intellectual property, commercial trading, data protection, money laundering, and employment. Our evaluation took account of whether any non-compliance would have a material effect on the financial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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.

 

Elite GB Environmental Services Ltd

Independent Auditor's Report to the Members of Elite GB Environmental Services Ltd

......................................
Maurice Brooks (Senior Statutory Auditor)
For and on behalf of Johnson Smith & Co Ltd, Statutory Auditor

Centurion House
London Road
Staines-Upon-Thames
Surrey
TW18 4AX

23 April 2024

 

Elite GB Environmental Services Ltd

(Registration number: 04939570)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

6,042

11,042

Tangible assets

5

90,218

94,148

 

96,260

105,190

Current assets

 

Stocks

6

30,500

30,500

Debtors

1,530,046

2,054,661

Cash at bank and in hand

 

122,453

246,328

 

1,682,999

2,331,489

Creditors: Amounts falling due within one year

7

(894,376)

(1,473,616)

Net current assets

 

788,623

857,873

Total assets less current liabilities

 

884,883

963,063

Creditors: Amounts falling due after more than one year

7

-

(4,683)

Provisions for liabilities

(17,141)

(21,632)

Net assets

 

867,742

936,748

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

866,742

935,748

Shareholders' funds

 

867,742

936,748

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 April 2024 and signed on its behalf by:
 

.........................................
P Sayer
Director

 

Elite GB Environmental Services Ltd

Statement of Changes in Equity for the Year Ended 31 August 2023

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

1,000

935,748

936,748

Profit for the year

-

7,571

7,571

Dividends

-

(76,577)

(76,577)

At 31 August 2023

1,000

866,742

867,742

Share capital
£

Retained earnings
£

Total
£

At 1 September 2021

1,000

713,205

714,205

Profit for the year

-

369,250

369,250

Dividends

-

(146,707)

(146,707)

At 31 August 2022

1,000

935,748

936,748

 

Elite GB Environmental Services Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Centurion House
London Road
Staines-Upon-Thames
Surrey
TW18 4AX

These financial statements were authorised for issue by the Board on 23 April 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£) which is also the functional currency.

 

Elite GB Environmental Services Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

Going concern

The financial statements have been prepared on a going concern basis.

The company's business activities, performance and position together with its principal risks and uncertainties are likely to affect its future development and performance. The directors, having made enquiries and reviewed the forecasts and in light of the opportunities and facilities available, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.Therefore, it is reasonable to continue to adopt the going concern basis in preparing the Annual Report and Accounts.

Adjusting events after the financial period

Information relating to events since the end of the year is given in the notes to the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted for under the accrual model and classified either as a grant relating to revenue (revenue-based grant) or a grant relating to assets (capital-based grants). Grants which relate to revenue are recognised in income in the period the related costs are incurred by the entity for which the grant is intended to compensate. For grants which are received by the entity for compensation for expenses or losses which have already been incurred, the grant is recognised in income when it is received or receivable provided that the terms of the grant do not impose future performance-related conditions. Any grants that are received before the revenue recognition criteria are met are recognised in the entity's financial statements as a liability. Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets where as those in relation to expenditure are credited when the expenditure is charged to profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Elite GB Environmental Services Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on cost

Office equipment

20% on cost

Motor vehicles

15% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

IP & Goodwil

Over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Elite GB Environmental Services Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Elite GB Environmental Services Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.
 

 

Elite GB Environmental Services Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2022 - 11).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2022

50,000

50,000

At 31 August 2023

50,000

50,000

Amortisation

At 1 September 2022

38,958

38,958

Amortisation charge

5,000

5,000

At 31 August 2023

43,958

43,958

Carrying amount

At 31 August 2023

6,042

6,042

At 31 August 2022

11,042

11,042

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

108,608

15,996

37,343

161,947

Additions

39,000

1,500

-

40,500

Disposals

(50,000)

-

-

(50,000)

At 31 August 2023

97,608

17,496

37,343

152,447

Depreciation

At 1 September 2022

49,610

8,899

9,290

67,799

Charge for the year

15,240

1,589

5,602

22,431

Eliminated on disposal

(28,001)

-

-

(28,001)

At 31 August 2023

36,849

10,488

14,892

62,229

Carrying amount

At 31 August 2023

60,759

7,008

22,451

90,218

At 31 August 2022

58,998

7,097

28,053

94,148

On 31 July 2019, ABN Amro Assets Based Finance N.V. created a fixed and floating charge over the company's assets.

 

Elite GB Environmental Services Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

6

Stocks

2023
£

2022
£

Work in progress

30,500

30,500

Debtors

Current

2023
£

2022
£

Trade debtors

1,408,581

2,051,411

Prepayments

65,831

3,250

Other debtors

55,634

-

 

1,530,046

2,054,661

The carrying amount of trade debtors pledged as security for liabilities amounted to £562,050 (2022 - £1,007,970).

The overdrawn directors' current accounts were repaid within nine months of the year end.

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

11,663

10,663

Trade creditors

 

202,065

284,444

Taxation and social security

 

20,647

105,890

Accruals and deferred income

 

97,951

59,127

Other creditors

 

562,050

1,013,492

 

894,376

1,473,616


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £11,663 (2022 - £10,663).

Included with other creditors falling due within one year are secured liabilities of £562,050 (2022: £1,007,970) in respect of amount due on factored debt by way of fixed and floating charge over the company's assets.

 

Elite GB Environmental Services Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

-

4,683

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

-

4,683

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

11,663

10,663

10

Obligations under leases and hire purchase contracts

Finance leases

The hire purchase obligations due within one year and more than one year are secured on the assets financed.

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

11,663

10,663

Later than one year and not later than five years

-

4,683

11,663

15,346

 

Elite GB Environmental Services Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

11

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £77 (2022 - £147) per each Ordinary

76,577

146,707

 

 

12

Related party transactions

On 31 July 2019, the directors offered their personal guarantees to Abn Amro Asset Based Finance N.V. to secure the company's financing arrangement.

As at 31 August 2023, the company was owed £15,055 by director A (2022: owed £149), £14,900 by director B (2022: owed £3,678) and £25,679 by director C (2022: owed £1,693).