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REGISTERED NUMBER: 09241306 (England and Wales)












GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

INTEGRATED DOORSET SOLUTIONS LIMITED

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 30 September 2023










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Profit and Loss Account 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


INTEGRATED DOORSET SOLUTIONS LIMITED

COMPANY INFORMATION
for the year ended 30 September 2023







DIRECTORS: A Dowding
P Lynch
N J Richmond
A Malhan
G Parkin





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
Warwickshire
CV23 0UZ





REGISTERED NUMBER: 09241306 (England and Wales)





AUDITORS: Magma Audit LLP
Chartered Accountants
Statutory Auditor
Magma House, 16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

GROUP STRATEGIC REPORT
for the year ended 30 September 2023


The directors present their strategic report of the company and the group for the year ended 30 September 2023.

REVIEW OF BUSINESS
These accounts represent the eighth full year of operations for the business.

The group focuses on the performance door market and, through its subsidiaries, the aftermarket of inspection and maintenance. The businesses have continued to develop and a further growth in turnover is reported.

Inflationary impacts continue to have an impact on costs, particularly wages and energy, but material price increases have reduced to a more normal level.

The business has continued to invest strongly in its strategic IP portfolio and further new equipment to improve efficiency, reduce manual handling and mitigate cost increases. This includes energy efficiency projects which together with its source of solar energy and biomass boilers firmly establishes its green credentials.

Employee numbers have reduced, averaging 240.

The group continues to place a strong emphasis on cash flow to ensure it operates within its facilities and can fund suitable acquisitions and capital expenditure.

The Key Performance factors for the last five years are;

2023 2022 2021 2020 2019
'000s '000s '000s '000s '000s
Turnover 34,069 29,046 28,732 20,727 19,434
Gross profit 8,511 5,687 5,930 4,198 3,636
EBITDA 4,108 2,208 2,411 1,810 1,043
Shareholders' funds 5,244 3,946 3,012 2,139 1,472

Non-financial KPI
Employee numbers 240 244 258 205 215

PRINCIPAL RISKS AND UNCERTAINTIES
The business is aligned to the Construction Industry though the increased use of performance doors within the industry and more demanding construction and inspection legislation creates a favourable sub sector within the industry, particularly in the public building sector.

The bulk of materials are imported and are exposed to tariffs, exchange rate fluctuations and commodity price increases. The risk is mitigated by constructive dialogue with suppliers, all purchases being made in Sterling, expansion of the supplier base and strategic stock holding.

Inflation remains a concern but less so, the labour market supply easing inflationary tendencies.

The group was funded by a mix of shareholder loans and external finance. The shareholder loans have now been repaid. A proportion of the external finance is on variable interest rates and as such increases in interest rates has increased the cost of financing but this now looks to have peaked.

We continue to monitor customer liquidity as a precaution against bad debts.


INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

GROUP STRATEGIC REPORT
for the year ended 30 September 2023

BUSINESS ENVIRONMENT
The business operates principally in the construction sector with a mix of developers, construction companies and first tier suppliers as its main customer base. The performance door market serves the commercial new build market (Healthcare, education and commercial) as well as the residential new build market (principally apartments) and all refurbishment markets whilst the inspection and maintenance concentrates in the fire door after market.

Current forecasts are for the market to achieve small growth but with variations by sector.

KEY PERFORMANCE INDICATORS (KPI'S)
The business uses KPIs extensively in its operations as a management tool.

Sales are measured to establish trends and efficiency in quotations, conversion, order intake and margins.

Output performances are measured daily to validate capital expenditure projects, assist production planning and to seek a consistent improvement in output and efficiency.

Financial performances are measured extensively to cover:
- Profitability at all levels.
- Margins at all levels.
- Performances against budget and last year.
- Balance sheet ratios including stock turn, debtor days and working capital levels.
- Cash flow and debt levels.


FUTURE DEVELOPMENTS
The business has started the new year with a good order book across the group and trading performances have continued to improve. The directors expect a continued growth in turnover for the next financial year.

The group has external funding agreed until March 2025 and a CBIL loan, repayable in instalments by 2025. The business also has an asset funding line agreed. The remaining deferred consideration on the acquisition of FDIS was repaid in September 2023.

Overall, the business has sufficient headroom to allow for further planned investment and growth.

The directors expect the group to remain operationally cash positive and therefore be in a position to continue to reduce the debt of the group.

ON BEHALF OF THE BOARD:





N J Richmond - Director


15 February 2024

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

REPORT OF THE DIRECTORS
for the year ended 30 September 2023


The directors present their report with the financial statements of the company and the group for the year ended 30 September 2023.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review was that of manufacture and sales of performance door sets and inspection and maintenance of fire doors.

DIVIDENDS
No dividends have been declared for the year ended 30 September 2023 (2022: £nil).

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

A Dowding
P Lynch
N J Richmond
A Malhan
G Parkin

Other changes in directors holding office are as follows:

R C Abbott - resigned 9 January 2023

FINANCIAL INSTRUMENTS
The principal financial instruments of the group comprise bank balances and borrowings, trade creditors, trade debtors and hire purchase contracts. The main purpose of these instruments is to raise funds for the group's operations and to finance its continuing operations. Liquidity risk is managed by the use of bank balances and overdraft facilities along with efficient monitoring and forecasting of cash flow to ensure there are sufficient funds to meet liabilities. Trade debtors are managed in respect of credit and cash flow risk by policies monitoring the credit offered to customers, and regular monitoring of amounts outstanding for both time and credit limits.

POLITICAL DONATIONS AND EXPENDITURE
Neither the company nor the group made any political donations during the current or preceding year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

REPORT OF THE DIRECTORS
for the year ended 30 September 2023


AUDITORS
The auditors, Magma Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





N J Richmond - Director


15 February 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
INTEGRATED DOORSET SOLUTIONS LIMITED


Opinion
We have audited the financial statements of Integrated Doorset Solutions Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2023 which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2023 and of the group's 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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 the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
INTEGRATED DOORSET SOLUTIONS LIMITED


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

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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

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

Based on our understanding of the company and industry, we identified the principal risks of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries and management bias in accounting estimates. Audit procedures performed included:

- discussions with management including consideration of known or suspected instances of non-compliance with
laws and regulation and fraud;
- challenging assumptions made by management in their significant accounting estimates, in particular in relation
to the bad debt provision, accrued income, investment valuation, stock provision, accrued material costs and
going concern;
- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations,
journal entries crediting cash and journal entries with specific defined descriptions.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
INTEGRATED DOORSET SOLUTIONS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Victoria Craig ACA FCCA (Senior Statutory Auditor)
for and on behalf of Magma Audit LLP
Chartered Accountants
Statutory Auditor
Magma House, 16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

21 February 2024

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

CONSOLIDATED
PROFIT AND LOSS ACCOUNT
for the year ended 30 September 2023

2023 2022
Notes £'000 £'000

TURNOVER 3 34,069 29,046

Cost of sales (25,558 ) (23,359 )
GROSS PROFIT 8,511 5,687

Administrative expenses (5,419 ) (4,426 )
OPERATING PROFIT 5 3,092 1,261

Interest receivable and similar income 1 -
3,093 1,261

Interest payable and similar expenses 6 (209 ) (202 )
PROFIT BEFORE TAXATION 2,884 1,059

Tax on profit 7 (717 ) (160 )
PROFIT FOR THE FINANCIAL YEAR 2,167 899

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

2,167

899

Profit attributable to:
Owners of the parent 2,167 899

Total comprehensive income attributable to:
Owners of the parent 2,167 899

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

CONSOLIDATED BALANCE SHEET
30 September 2023

2023 2022
Notes £'000 £'000
FIXED ASSETS
Intangible assets 9 1,589 1,671
Tangible assets 10 4,197 4,043
Investments 11 - -
5,786 5,714

CURRENT ASSETS
Stocks 12 1,094 1,315
Debtors 13 6,975 4,579
Cash at bank and in hand 1,455 1,559
9,524 7,453
CREDITORS
Amounts falling due within one year 14 (8,086 ) (5,910 )
NET CURRENT ASSETS 1,438 1,543
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,224

7,257

CREDITORS
Amounts falling due after more than one
year

15

(1,097

)

(2,642

)

PROVISIONS FOR LIABILITIES 19 (883 ) (669 )
NET ASSETS 5,244 3,946

CAPITAL AND RESERVES
Called up share capital 20 1,070 1,070
Share premium 21 23 23
Retained earnings 21 4,151 2,853
SHAREHOLDERS' FUNDS 5,244 3,946

The financial statements were approved by the Board of Directors and authorised for issue on 15 February 2024 and were signed on its behalf by:





N J Richmond - Director


INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

COMPANY BALANCE SHEET
30 September 2023

2023 2022
Notes £'000 £'000
FIXED ASSETS
Intangible assets 9 470 393
Tangible assets 10 4,103 4,033
Investments 11 3,046 3,046
7,619 7,472

CURRENT ASSETS
Stocks 12 1,070 1,255
Debtors 13 4,356 3,029
Cash at bank and in hand 1,065 1,399
6,491 5,683
CREDITORS
Amounts falling due within one year 14 (7,007 ) (6,325 )
NET CURRENT LIABILITIES (516 ) (642 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,103

6,830

CREDITORS
Amounts falling due after more than one
year

15

(1,072

)

(2,642

)

PROVISIONS FOR LIABILITIES 19 (862 ) (669 )
NET ASSETS 5,169 3,519

CAPITAL AND RESERVES
Called up share capital 20 1,070 1,070
Share premium 21 23 23
Retained earnings 21 4,076 2,426
SHAREHOLDERS' FUNDS 5,169 3,519

Company's profit for the financial year 2,519 521

The financial statements were approved by the Board of Directors and authorised for issue on 15 February 2024 and were signed on its behalf by:





N J Richmond - Director


INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the year ended 30 September 2023

Called up
share Retained Share Total
capital earnings premium equity
£'000 £'000 £'000 £'000
Balance at 1 October 2021 1,070 1,942 - 3,012

Changes in equity
Sale of treasury shares - 12 23 35
Total comprehensive income - 899 - 899
Balance at 30 September 2022 1,070 2,853 23 3,946

Changes in equity
Purchase of own shares - (869 ) - (869 )
Total comprehensive income - 2,167 - 2,167
Balance at 30 September 2023 1,070 4,151 23 5,244

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

COMPANY STATEMENT OF CHANGES IN EQUITY
for the year ended 30 September 2023

Called up
share Retained Share Total
capital earnings premium equity
£'000 £'000 £'000 £'000
Balance at 1 October 2021 1,070 1,893 - 2,963

Changes in equity
Sale of treasury shares - 12 23 35
Total comprehensive income - 521 - 521
Balance at 30 September 2022 1,070 2,426 23 3,519

Changes in equity
Purchase of own shares - (869 ) - (869 )
Total comprehensive income - 2,519 - 2,519
Balance at 30 September 2023 1,070 4,076 23 5,169

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

CONSOLIDATED CASH FLOW STATEMENT
for the year ended 30 September 2023

2023 2022
Notes £'000 £'000
Cash flows from operating activities
Cash generated from operations 24 2,607 2,002
Interest paid (209 ) (202 )
Tax paid (1 ) -
Net cash from operating activities 2,397 1,800

Cash flows from investing activities
Purchase of intangible fixed assets (221 ) (225 )
Purchase of tangible fixed assets (896 ) (506 )
Sale of tangible fixed assets 8 40
Interest received 1 -
Net cash from investing activities (1,108 ) (691 )

Cash flows from financing activities
Loan repayments in year (222 ) (222 )
Capital repayments in year (444 ) (531 )
Repaid to directors & shareholders (149 ) 11
Amount withdrawn by directors (47 ) -
New HP contracts in year 341 896
Sale of treasury shares - 35
Purchase of own shares (869 ) -
Net cash from financing activities (1,390 ) 189

(Decrease)/increase in cash and cash equivalents (101 ) 1,298
Cash and cash equivalents at beginning
of year

25

1,559

261

Cash and cash equivalents at end of year 25 1,455 1,559

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 30 September 2023


1. STATUTORY INFORMATION

Integrated Doorset Solutions Limited is a company limited by shares, registered in England and Wales. Its registered office address is Magma House, 16 Davy Court, Castle Mound Way, Rugby, CV23 0UZ and the registered number is 09241306. The place of business is Ovi House, Ratcher Way, Mansfield, NG19 0FS.

2. ACCOUNTING POLICIES

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

The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the notes to the accounts.

The group's functional currency and presentational currency is Sterling (£). The financial statements have been rounded to the nearest thousand.

Basis of consolidation
The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at the fair values at the acquisition date. The results of acquired operations are included in the Consolidated Profit and Loss from the date on which control is obtained. They are deconsolidated from the date control ceases.

Going concern
The group had net current assets of £1,882,000 (2022: £1,543,000) and net assets of £5,902,000 (2022: £3,946,000). For the year ended 30 September 2023 the group made a profit after tax of £2,825,000 (2022: £899,000).

The company had net current liabilities of £516,000 (2022: £642,000) and net assets of £5,362,000 (2022: £3,519,000). For the year ended 30 September 2023 the company made a profit after tax of £2,713,000 (2022: £521,000).

The directors have considered the going concern status of the company and group. The directors have prepared financial forecasts which show that the company and group can meet its debts as they fall due.

Accordingly the directors continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured as the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the group and value added taxes.

The group recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the group retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the entity and (e) when the specific criteria relating to the each of group’s sales channels have been met.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirers interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Profit and Loss over its useful economic life which is expected to be 10 years.

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


2. ACCOUNTING POLICIES - continued

Intellectual property
Intellectual property, being amounts paid in connection with certification and testing of product lines are initially recorded at cost. They are being amortised over their useful lives of 5 years.

Where factors, such as technological advancement or changes in market price, indicate that residual value or useful life have changed, the residual value, useful life or amortisation rate are amended prospectively to reflect the new circumstances.

The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired.

Tangible fixed assets
Tangible assets are stated at historical cost less depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on a straight line basis.

Depreciation is provided on the following basis:

Freehold land & buildings-over lease term
Plant and machinery-10% straight line
Fixtures and fittings-20% straight line
Computer equipment-20% straight line
Motor vehicles-25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investment in subsidiary undertakings
Investment in subsidiary undertakings are held at cost less accumulated impairment losses.

Stocks
Stocks comprise raw materials and work in progress.

Raw materials
Raw materials are stated at the lower of cost and estimated selling price less costs to complete and sell. Stocks are recognised as an expense in the period in which the related revenue is recognised. Cost is determined on the first-in, first-out (FIFO) method.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and recognised as a credit on the profit and loss.

Work in progress
Work in progress is valued on the basis of direct costs plus attributable labour time and overheads. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.


INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.
(i) Current tax
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

(ii) Deferred tax
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only 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 tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Foreign currencies
At each year end foreign currency monetary items are translated using the closing exchange rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


2. ACCOUNTING POLICIES - continued

Operating and finance lease commitments
At inception the group assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement.

(i) Finance leased assets
Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance leases.

Finance leases are capitalised at commencement of the lease as assets at the fair value of the leased asset or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease. Where the implicit rate cannot be determined the group’s incremental borrowing rate is used. Incremental direct costs, incurred in negotiating and arranging the lease, are included in the cost of the asset.

Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

The capital element of lease obligations is recorded as a liability on inception of the arrangement. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of the capital repayments outstanding.

(ii) Operating leased assets
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

(iii) Lease incentives
Incentives received to enter into a finance lease reduce the fair value of the asset and are included in the calculation of present value of minimum lease payments.

Incentives received to enter into an operating lease are credited to the profit and loss account, to reduce the lease expense, on a straight-line basis over the period of the lease.

Employee benefits
The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the group in independently administered funds.

Invoice discounting
The gross amount of invoice discounted debts are included in trade debtors and a corresponding liability in respect of proceeds received from factors are shown within current liabilities. Factoring charges and interest are recognised in the profit and loss account as they accrue.

Research and development
Expenditure on research and development is written off in the period it is incurred.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The group has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, investments and loans to fellow group companies are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

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 publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods that have been acquired in the ordinary course of business from suppliers.

Trade creditors are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting
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.

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


2. ACCOUNTING POLICIES - continued

Critical accounting estimates and assumptions
The group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually.
They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

(ii) Impairment of debtors
The group makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

(iii) Impairment of intangible assets and goodwill
The group considers whether intangible assets and goodwill are impaired. Where an indication of impairment is identified the estimation of recoverable value requires estimation of the recoverable value of the cash generating units (CGUs). This requires estimation of the future cash flows from the CGUs and also selection of appropriate discount rates in order to calculate the net present value of those cash flows.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

An analysis of turnover by class of business is given below:

2023 2022
£'000 £'000
Manufacturing 22,454 22,342
Inspection and maintenance 11,615 6,704
34,069 29,046

An analysis of turnover by geographical market is given below:

2023 2022
£'000 £'000
United Kingdom 33,448 28,184
Europe 621 862
34,069 29,046

4. EMPLOYEES AND DIRECTORS
2023 2022
£'000 £'000
Wages and salaries 9,609 9,031
Social security costs 733 752
Other pension costs 158 162
10,500 9,945

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


4. EMPLOYEES AND DIRECTORS - continued

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

Administration staff 61 60
Management 10 9
Production and warehouse staff 169 175
240 244

2023 2022
£    £   
Directors' remuneration 564,977 564,497

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

Money purchase schemes 3 4

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 148,185 121,605

5. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£'000 £'000
Depreciation - owned assets 455 389
Depreciation - assets on hire purchase contracts 258 229
Loss on disposal of fixed assets 21 4
Goodwill amortisation 159 160
Intellectual Property amortisation 144 130
Foreign exchange differences 4 12
Operating lease rentals 425 453
Audit of the parent company and the group's consolidated financial
statements

18

16
Audit of the company's subsidiaries 14 8
Tax compliance 3 3

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£'000 £'000
Bank interest 3 2
Other interest payable 206 200
209 202

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£'000 £'000
Current tax:
UK corporation tax 503 1

Deferred tax 214 159
Tax on profit 717 160

UK corporation tax has been charged at 19 % .

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

2023 2022
£'000 £'000
Profit before tax 2,883 1,058
Profit multiplied by the standard rate of corporation tax in the UK of 24.210
% (2022 - 19 %)

698

201

Effects of:
Expenses not deductible for tax purposes 7 3
Income not taxable for tax purposes - (9 )
Capital allowances in excess of depreciation - (12 )
Utilisation of tax losses - (177 )
Adjustments to tax charge in respect of previous periods 70 -
Research and development tax relief (41 ) (37 )
Deferred tax movement - 159
Fixed asset profit on disposals - 1

Goodwill amortisation - 30
Superdeduction (20 ) -
Other (difference between CT and DT rate) 3 -
Total tax charge 717 159

Factors affecting current and future tax charges
On 24 May 2021, the Finance Act 2021 was substantively enacted to introduce a main rate of corporation tax of 25%, with effect from 1 April 2023. As such, deferred tax has been provided at 25%.

8. INDIVIDUAL PROFIT AND LOSS ACCOUNT

As permitted by Section 408 of the Companies Act 2006, the Profit and Loss of the parent company is not presented as part of these financial statements.


INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


9. INTANGIBLE FIXED ASSETS

Group
Intellectual
Goodwill Property Totals
£'000 £'000 £'000
COST
At 1 October 2022 1,598 1,107 2,705
Additions - 221 221
At 30 September 2023 1,598 1,328 2,926
AMORTISATION
At 1 October 2022 320 714 1,034
Amortisation for year 159 144 303
At 30 September 2023 479 858 1,337
NET BOOK VALUE
At 30 September 2023 1,119 470 1,589
At 30 September 2022 1,278 393 1,671

Company
Intellectual
Property
£'000
COST
At 1 October 2022 1,107
Additions 221
At 30 September 2023 1,328
AMORTISATION
At 1 October 2022 714
Amortisation for year 144
At 30 September 2023 858
NET BOOK VALUE
At 30 September 2023 470
At 30 September 2022 393

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


10. TANGIBLE FIXED ASSETS

Group
Freehold Fixtures
land & Plant and and
buildings machinery fittings
£'000 £'000 £'000
COST
At 1 October 2022 356 5,460 109
Additions 54 496 2
Disposals - (92 ) -
At 30 September 2023 410 5,864 111
DEPRECIATION
At 1 October 2022 168 1,884 85
Charge for year 26 534 9
Eliminated on disposal - (64 ) -
At 30 September 2023 194 2,354 94
NET BOOK VALUE
At 30 September 2023 216 3,510 17
At 30 September 2022 188 3,576 24

Motor Computer
vehicles equipment Totals
£'000 £'000 £'000
COST
At 1 October 2022 46 662 6,633
Additions 160 184 896
Disposals - (1 ) (93 )
At 30 September 2023 206 845 7,436
DEPRECIATION
At 1 October 2022 22 431 2,590
Charge for year 33 111 713
Eliminated on disposal - - (64 )
At 30 September 2023 55 542 3,239
NET BOOK VALUE
At 30 September 2023 151 303 4,197
At 30 September 2022 24 231 4,043

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


10. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Computer
machinery equipment Totals
£'000 £'000 £'000
COST
At 1 October 2022 2,292 72 2,364
Additions - 44 44
Disposals (9 ) - (9 )
At 30 September 2023 2,283 116 2,399
DEPRECIATION
At 1 October 2022 383 4 387
Charge for year 231 27 258
Eliminated on disposal (2 ) - (2 )
At 30 September 2023 612 31 643
NET BOOK VALUE
At 30 September 2023 1,671 85 1,756
At 30 September 2022 1,909 68 1,977

Company
Freehold Fixtures
land & Plant and and
buildings machinery fittings
£'000 £'000 £'000
COST
At 1 October 2022 356 5,453 108
Additions 54 497 2
Disposals - (92 ) -
At 30 September 2023 410 5,858 110
DEPRECIATION
At 1 October 2022 168 1,880 84
Charge for year 26 533 9
Eliminated on disposal - (64 ) -
At 30 September 2023 194 2,349 93
NET BOOK VALUE
At 30 September 2023 216 3,509 17
At 30 September 2022 188 3,573 24

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


10. TANGIBLE FIXED ASSETS - continued

Company

Motor Computer
vehicles equipment Totals
£'000 £'000 £'000
COST
At 1 October 2022 46 651 6,614
Additions 59 181 793
Disposals - (1 ) (93 )
At 30 September 2023 105 831 7,314
DEPRECIATION
At 1 October 2022 22 427 2,581
Charge for year 18 108 694
Eliminated on disposal - - (64 )
At 30 September 2023 40 535 3,211
NET BOOK VALUE
At 30 September 2023 65 296 4,103
At 30 September 2022 24 224 4,033

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Computer
machinery equipment Totals
£'000 £'000 £'000
COST
At 1 October 2022 2,292 72 2,364
Additions - 44 44
Disposals (9 ) - (9 )
At 30 September 2023 2,283 116 2,399
DEPRECIATION
At 1 October 2022 383 4 387
Charge for year 231 27 258
Eliminated on disposal (2 ) - (2 )
At 30 September 2023 612 31 643
NET BOOK VALUE
At 30 September 2023 1,671 85 1,756
At 30 September 2022 1,909 68 1,977

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertaking
£'000
COST
At 1 October 2022
and 30 September 2023 3,046
NET BOOK VALUE
At 30 September 2023 3,046
At 30 September 2022 3,046

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Fire Door Inspection Solutions Limited
Registered office: Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ
Nature of business: Inspection and maintenance of fire doors
%
Class of shares: holding
Ordinary 100.00
2023 2022
£'000 £'000
Aggregate capital and reserves 1,806 2,147
Profit for the year 1,659 991

Fire Door Inspections Solutions (Southern) Limited
Registered office: Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ
Nature of business: Inspection and maintenance of fire doors
%
Class of shares: holding
Ordinary 100.00
2023
£'000
Aggregate capital and reserves 185
Profit for the year 185


12. STOCKS

Group Company
2023 2022 2023 2022
£'000 £'000 £'000 £'000
Stocks 712 632 712 632
Work-in-progress 382 683 358 623
1,094 1,315 1,070 1,255

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£'000 £'000 £'000 £'000
Trade debtors 6,290 3,937 4,063 2,668
Other debtors 63 39 - 38
Prepayments and accrued income 622 603 293 323
6,975 4,579 4,356 3,029

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£'000 £'000 £'000 £'000
Bank loans and overdrafts (see note 16) 222 222 222 222
Hire purchase contracts (see note 17) 493 443 474 443
Trade creditors 2,109 3,011 1,968 2,943
Amounts owed to group undertakings - - 360 913
Tax 503 1 - -
Social security and other taxes 218 217 180 183
VAT 622 327 611 353
Other creditors 1,840 408 1,779 310
Directors' current accounts 67 216 67 216
Accruals and deferred income 2,012 1,065 1,346 742
8,086 5,910 7,007 6,325

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

Group Company
2023 2022 2023 2022
£'000 £'000 £'000 £'000
Bank loans (see note 16) 148 370 148 370
Hire purchase contracts (see note 17) 847 1,048 822 1,048
Other creditors 102 1,136 102 1,136
Accruals and deferred income - 88 - 88
1,097 2,642 1,072 2,642

16. LOANS

An analysis of the maturity of loans is given below:

Group Company
2023 2022 2023 2022
£'000 £'000 £'000 £'000
Amounts falling due within one year or on demand:
Bank loans 222 222 222 222
Amounts falling due between one and two years:
Bank loans - 1-2 years 148 370 148 370

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£'000 £'000
Net obligations repayable:
Within one year 493 443
Between one and five years 847 1,048
1,340 1,491

Company
Hire purchase contracts
2023 2022
£'000 £'000
Net obligations repayable:
Within one year 474 443
Between one and five years 822 1,048
1,296 1,491

Group
Non-cancellable operating leases
2023 2022
£'000 £'000
Within one year 439 438
Between one and five years 1,084 1,333
In more than five years 61 184
1,584 1,955

Company
Non-cancellable operating leases
2023 2022
£'000 £'000
Within one year 439 438
Between one and five years 1,084 1,333
In more than five years 61 184
1,584 1,955

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


17. LEASING AGREEMENTS - continued

Group

The future minimum hire purchase lease payments are as follows:
2023 2022
£'000 £'000
Not later than one year 542 491
Later than one year and not later than five years 892 1,109
Total gross payments 1,434 1,600
Less: finance charges (94 ) (109 )
Carrying amount of liability 1,340 ,1491


Company

The future minimum hire purchase lease payments are as follows:
2023 2022
£'000 £'000
Not later than one year 521 491
Later than one year and not later than five years 865 1,109
Total gross payments 1,386 1,600
Less: finance charges (90 ) (109 )
Carrying amount of liability 1,296 ,1491

18. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2023 2022 2023 2022
£'000 £'000 £'000 £'000
Bank loans 370 592 370 592
Hire purchase 1,340 1,491 1,296 1,491
1,710 2,083 1,666 2,083

The bank loan is secured by an unlimited debenture over the assets of the group.

The net obligations under hire purchase contracts are secured on the assets to which they relate.

The bank loan is repayable on the 5th anniversary of the date of the agreement being May 2025. Interest is charged at a rate of 1.56% above Bank of England base rate.

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


19. PROVISIONS FOR LIABILITIES

Group Company
2023 2022 2023 2022
£'000 £'000 £'000 £'000
Deferred tax
Accelerated capital allowances 963 870 963 870
Tax losses carried forward (101 ) (201 ) (101 ) (201 )
Deferred tax 21 - - -
883 669 862 669

Group
Deferred
tax
£'000
Balance at 1 October 2022 669
Provided during year 214
Balance at 30 September 2023 883

Company
Deferred
tax
£'000
Balance at 1 October 2022 669
Charge to Profit and Loss during year 193
Balance at 30 September 2023 862

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £'000 £'000
1,070,000 Ordinary £1 1,070 1,070

During the year the company repurchased 130,000 Ordinary shares, which were held as treasury shares at the year end, for total consideration of £869,250. The total number of shares held as treasury shares at the year end is 401,667 (2022: 271,667).

21. RESERVES

Group
Retained Share
earnings premium Totals
£'000 £'000 £'000

At 1 October 2022 2,853 23 2,876
Profit for the year 2,167 2,167
Purchase of own shares (869 ) - (869 )
At 30 September 2023 4,151 23 4,174

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


21. RESERVES - continued

Company
Retained Share
earnings premium Totals
£'000 £'000 £'000

At 1 October 2022 2,426 23 2,449
Profit for the year 2,519 2,519
Purchase of own shares (869 ) - (869 )
At 30 September 2023 4,076 23 4,099


22. ULTIMATE PARENT COMPANY

There was no ultimate controlling party in the current or the prior period, as no single shareholder has control by virtue of shareholding.

23. RELATED PARTY DISCLOSURES

Company
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Group
During the year sales of £1,291,000 (2022: £1,306,000) were made to, and purchases of £4,794,000 (2022: £5,046,000) were made from, another related company with common directors. At the year end £239,000 (2022: £nil) was due from, and £1,439,000 (2022: £1,137,000) was due to this related company. Management charges of £384,000 (2022: £248,000) were also receivable during the year.

During the year sales of £16,000 (2022: £9,000) were made to, and purchases of £226,000 (2022: £225,000) were made from, a related company with a common director. At the year end £94,000 (2022: £94,000) was due to this related company.

During the year rent of £82,000 (2022: £82,000) was paid to a related company with a common director. At the year end £nil (2022: £nil) was due to this related company.

During the year sales of £4,500 (2022: £14,000) were made to a company with common directors. At the year end £nil (2022: £nil) was due to this related company.

During the year purchases of £118,895 (2022: £nil) were made from a related company with common directors. At the year end £nil (2022: £nil) was due to this related company.

Not included in the above balances are movements on shareholders loans. At the year end interest of £2,000 (2022: £6,000) was accrued on the balances. At the year end the outstanding capital balances due to these shareholders was £167,000 (2022: £210,000) following repayments in the year of £43,000.

INTEGRATED DOORSET SOLUTIONS LIMITED (REGISTERED NUMBER: 09241306)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


24. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£'000 £'000
Profit before taxation 2,884 1,059
Depreciation charges 1,018 908
Loss on disposal of fixed assets 21 4
Finance costs 209 202
Finance income (1 ) -
4,131 2,173
Decrease in stocks 221 617
(Increase)/decrease in trade and other debtors (2,448 ) 751
Increase/(decrease) in trade and other creditors 703 (1,539 )
Cash generated from operations 2,607 2,002

25. CASH AND CASH EQUIVALENTS

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

Year ended 30 September 2023
30/9/23 1/10/22
£'000 £'000
Cash and cash equivalents 1,455 1,559
Bank overdrafts - -
1,455 1,559
Year ended 30 September 2022
30/9/22 1/10/21
£'000 £'000
Cash and cash equivalents 1,559 261


26. ANALYSIS OF CHANGES IN NET DEBT

At 1/10/22 Cash flow At 30/9/23
£'000 £'000 £'000
Net cash
Cash at bank and in hand 1,559 (104 ) 1,455
1,559 (104 ) 1,455
Debt
Finance leases (1,491 ) 151 (1,340 )
Debts falling due within 1 year (222 ) - (222 )
Debts falling due after 1 year (370 ) 222 (148 )
(2,083 ) 373 (1,710 )
Total (524 ) 269 (255 )