Company Registration No. 03353423 (England and Wales)
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
COMPANY INFORMATION
Directors
Mr J E Potter
Mr O A Hill
D M Potter
(Appointed 12 December 2023)
Secretary
Mr J E Potter
Company number
03353423
Registered office
Potter House
Henfaes Lane
Welshpool
Powys
SY21 7BE
Auditor
Xeinadin Audit Limited
2 Hilliards Court
Chester Business Park
Chester
Cheshire
CH4 9QP
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Notes to the financial statements
12 - 28
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2023
- 1 -

The directors present the strategic report for the year ended 30 April 2023.

Review of business

The company directors are pleased with the company’s performance in the year as it continues with its core activities of waste management, recycling and management of its commercial property portfolio.

Continual changes in regulation provide the company with ongoing challenges but also opportunities, with new legislation coming into effect requiring all businesses in Wales to separate their waste for recycling being seen as a growth opportunity for the company.

The company continues to engage with potential suppliers for Energy from Waste plant, and is closely monitoring progress in innovative pilot plants to improve small scale Energy from Waste processes.

The company has achieved contract extensions for public sector recycling facilities and continues to invest in operational efficiencies and to expand with product and service diversification.

The company's key financial indicators during the year were as follows:
2023
2022
£
£
Turnover
15,499,619
11,995,068
Operating profit/(Loss)
479,329
585,704
Profit before tax
507,603
378,552
Shareholders funds
14,181,167
15,590,423
Principle risks and uncertainties

The company operates within the waste management industry which is subject to strict environmental and health and safety legislation. The company’s management develop systems and policies to ensure compliance with all relevant regulations and to continue to meet these standards which are subject to continuous revision.

The company operations involve both public sector contracts and services to both industrial and commercial customers. Public service contracts may be subject to periodic competitive tender and the company’s management has put in place a tender approval procedure to ensure all risks are properly considered.

The company’s management recognise the liquidity risk to the company and utilise short and long term cash flow projections to review this, and are confident that they have sufficient banking and financing facilities in place to meet the company’s working capital requirement and sufficient funds are available for existing operations and planned expansions.

Social Responsibility

The company’s vision is to build a safe and sustainable future. The business continually seeks to reduce its environmental impact and to make a positive contribution to the communities in which it operates.

The company is committed to investing in systems and technologies that will support its environmental objectives, with sustainable waste management and recycling initiatives at the heart of all that is done.

The company’s strong community focus means it seeks to invest back into the local area, and the company is dedicated to providing a healthy and safe working environment for all its staff and provide an exceptional level of service to all of its customers.

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 2 -

Future

The company is proud of its continued achievements in a difficult economical climate, and plans to continue to grow and diversify within and outside the waste management industry. In doing so it will retain a focus on its social and environmental responsibilities.

Throughout all the company operations, a strong focus on sustainability and innovation is maintained, sourcing technologies and embracing best practice which helps us reduce our impact on the environment and benefit the local communities that it operates in, working to build a brighter tomorrow for future generations.

 

On behalf of the board

D M Potter
Director
31 January 2024
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -

The directors present their annual report and financial statements for the year ended 30 April 2023.

Principal activities

The principal activity of the company continued to be that of waste management and disposal.

Directors

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

Mr J E Potter
Mr O A Hill
D M Potter
(Appointed 12 December 2023)
Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Auditor

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

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

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

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the 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.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of risks and future developments.

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
Statement of disclosure to auditor

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

On behalf of the board
D M Potter
Director
31 January 2024
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
- 5 -
Opinion

We have audited the financial statements of Sundorne Products (Llanidloes) Limited (the 'company') for the year ended 30 April 2023 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the 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's responsibilities for the audit of the financial statements

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

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

Enquiries of management and those charged with governance were held in order to identify any laws and regulations that could be expected to have a material impact on the financial statements. Throughout the audit, the team were updated with the outcomes of these enquiries including consideration as to where and how fraud may occur in the company.

 

The audit procedures undertaken to address any potential risk in relation to irregularities (which include fraud and non-compliance with laws and regulations) included: enquiries of management and those charged with governance on how the company complies with relevant laws, regulations and any cases of actual or potential litigation or claims; examination of appropriate legal correspondence; testing of journal entries for appropriateness; and analytical procedures on account balances to identify variances against expectation which may show indications of fraud.

No instances of material non-compliance were identified, although the prospect of detecting irregularities, including fraud, is inherently difficult. This is due to; difficulty in detecting irregularities; limits imposed by the effectiveness of the entity’s controls; and the nature, timing and extent of the audit procedures performed. Irregularities as a result of fraud are inherently more difficult to detect than those that resulting from error. Despite the audit being planned and performed in accordance with ISAs (UK), there is an unavoidable risk that material misstatements may not be detected.

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

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
- 7 -

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.

Timothy Mitchell BSc FCA
Senior Statutory Auditor
For and on behalf of Xeinadin Audit Limited
31 January 2024
Chartered Accountants
Statutory Auditor
2 Hilliards Court
Chester Business Park
Chester
Cheshire
CH4 9QP
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2023
- 8 -
2023
2022
as restated
Notes
£
£
Turnover
3
15,499,619
11,995,068
Cost of sales
(10,807,340)
(7,861,343)
Gross profit
4,692,279
4,133,725
Administrative expenses
(4,568,815)
(4,003,009)
Other operating income
355,865
454,988
Operating profit
4
479,329
585,704
Interest receivable and similar income
7
7,932
-
0
Interest payable and similar expenses
8
20,342
(357,152)
Fair value gains and losses on investment properties
12
-
150,000
Profit before taxation
507,603
378,552
Tax on profit
9
(207,872)
(147,837)
Profit for the financial year
299,731
230,715

The profit and loss account has been prepared on the basis that all operations are continuing operations.

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2023
- 9 -
2023
2022
as restated
£
£
Profit for the year
299,731
230,715
Other comprehensive income
Tax relating to other comprehensive income
708,772
(274,134)
Total comprehensive income for the year
1,008,503
(43,419)
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 10 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
11
8,695,687
12,848,682
Investment property
12
3,150,000
3,150,000
11,845,687
15,998,682
Current assets
Stocks
13
5,680
3,746
Debtors
14
11,751,866
9,939,580
Cash at bank and in hand
753,584
226,642
12,511,130
10,169,968
Creditors: amounts falling due within one year
15
(4,118,271)
(3,389,654)
Net current assets
8,392,859
6,780,314
Total assets less current liabilities
20,238,546
22,778,996
Creditors: amounts falling due after more than one year
16
(2,939,481)
(3,181,312)
Provisions for liabilities
Provisions
19
2,025,122
2,223,666
Deferred tax liability
20
1,092,776
1,783,595
(3,117,898)
(4,007,261)
Net assets
14,181,167
15,590,423
Capital and reserves
Called up share capital
22
290,100
290,100
Revaluation reserve
23
879,592
3,005,908
Non-distributable profits reserve
24
587,709
602,827
Distributable profit and loss reserves
25
12,423,766
11,691,588
Total equity
14,181,167
15,590,423
The financial statements were approved by the board of directors and authorised for issue on 31 January 2024 and are signed on its behalf by:
D M Potter
Director
Company registration number 03353423 (England and Wales)
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023
- 11 -
Share capital
Revaluation reserve
Non-distri-butable profits
Profit and loss reserves
Total
£
£
£
£
£
As restated for the period ended 30 April 2022:
Balance at 1 May 2021
290,100
3,699,217
513,226
10,991,574
15,494,117
Effect of change in revaluation reserve
-
(419,175)
-
558,900
139,725
As restated
290,100
3,280,042
513,226
11,550,474
15,633,842
Year ended 30 April 2022:
Profit
-
-
89,601
141,114
230,715
Other comprehensive income:
Tax relating to other comprehensive income
-
(274,134)
-
-
0
(274,134)
Total comprehensive income
-
(274,134)
89,601
141,114
(43,419)
Balance at 30 April 2022
290,100
3,005,908
602,827
11,691,588
15,590,423
Year ended 30 April 2023:
Profit
-
-
(15,118)
314,849
299,731
Other comprehensive income:
Tax relating to other comprehensive income
-
708,772
-
-
0
708,772
Total comprehensive income
-
708,772
(15,118)
314,849
1,008,503
Transfers
-
(417,329)
-
417,329
-
Other movements
-
(2,417,759)
-
-
(2,417,759)
Balance at 30 April 2023
290,100
879,592
587,709
12,423,766
14,181,167
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 12 -
1
Accounting policies
Company information

Sundorne Products (Llanidloes) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Potter House, Henfaes Lane, Welshpool, Powys, SY21 7BE.

1.1
Accounting convention

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

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Potter's Waste Management Limited. These consolidated financial statements are available from its registered office Potter House, Henfaes Lane, Welshpool, Powys, Wales, SY21 7BE.

1.2
Going concern

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

1.3
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company, and the revenue can be reliably measured once the goods or services are provided to the customer. Income from waste disposal is recognised at the point of disposal. Income from landfill activities include landfill tax at the prevailing rate. Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes with the exception of landfill tax.

1.4
Tangible fixed assets

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

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 13 -

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

Freehold land and buildings
15 years straight line allowing for residual value
Improvements to property
4-25 years straight line
Plant and equipment
2-50% both reducing balance and straight line
Land not in use
not depreciated
Other tangible assets
Over the estimated useful life

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Certain capital assets have been accounted for on a component basis where appropriate.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

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

1.8
Cash and cash equivalents

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

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 14 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

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

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 15 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 16 -
1.12
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Provisions are in place for environmental and landfill costs, these include provisions associated with the closure and post closure of the landfill site. The company estimates its total future requirements for closure costs and post closure monitoring and maintenance of the site after the anticipated closure.

 

A provision is made for the final capping, inspection, monitoring, operating and maintenance costs to be incurred during the period after which the site closes.

 

Post closure provisions have been shown at net present value. The current cost estimate has been inflated for the current year at 7.8% (2022: 4.1%) and discounted by 7.75% (2022: 7.25%). The unwinding of the discount element is shown in the financial statements as a financial item.

 

The company provides for full closure costs as the voidspace is used. In accordance with FRS 102 Section 21, full provision has been made for the company's minimum unavoidable costs. The company estimated there costs to be incurred over the next 44 years.

1.13
Employee benefits

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

 

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

 

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

1.14
Retirement benefits

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

1.15
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 17 -
1.16
Government grants

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

 

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

1.17
Foreign exchange

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

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Provisions

Provisions are in place for environmental and landfill costs, these include provisions associated with the closure and post closure of the landfill site. The company estimates its total future requirements for closure costs and post closure monitoring and maintenance of the site after the anticipated closure. Actual costs, interest rates and capacity can vary.

Carrying value of tangible fixed assets

The company depreciates tangible assets over their estimated useful lives based on void space filled and historic performance. The actual lives can vary based on filling capacity and utilisation of assets.

Valuation of investment property

The company records its investment property at fair value as arrived at by independent valuers based on similar properties in the area. Actual values may vary.

3
Turnover and other revenue
2023
2022
£
£
Other significant revenue
Interest income
7,932
-
Grants received
-
87,090
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
3
Turnover and other revenue
(Continued)
- 18 -

All turnover arose within the United Kingdom.

4
Operating profit
2023
2022
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange gains
(11,108)
-
0
Government grants
-
(87,090)
Fees payable to the company's auditor for the audit of the company's financial statements
14,400
17,000
Depreciation of owned tangible fixed assets
981,432
496,917
Depreciation of tangible fixed assets held under finance leases
152,793
354,715
Impairment of owned tangible fixed assets
169,151
257,324
Reversal of past impairment of tangible fixed assets
(24,931)
-
0
Loss on disposal of tangible fixed assets
203,733
139,095
5
Employees

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

2023
2022
Number
Number
32
45

Their aggregate remuneration comprised:

2023
2022
£
£
Wages and salaries
1,129,514
1,135,720
Social security costs
113,057
129,983
Pension costs
21,529
23,773
1,264,100
1,289,476

Key management personnel are the directors of the company and the operations manager with a combined remuneration of £104,598 (2022: £91,703).

6
Directors' remuneration
2023
2022
£
£
Remuneration for qualifying services
92,197
81,655
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 19 -
7
Interest receivable and similar income
2023
2022
£
£
Interest income
Interest on bank deposits
7,932
-
0
8
Interest payable and similar expenses
2023
2022
£
£
Interest on bank loans, overdrafts and landfill closure provision
(96,386)
295,527
Interest on finance leases and hire purchase contracts
76,044
61,625
(20,342)
357,152
9
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
189,919
151,933
Adjustments in respect of prior periods
-
0
(171,800)
Total current tax
189,919
(19,867)
Deferred tax
Origination and reversal of timing differences
17,953
(31,038)
Changes in tax rates
-
0
194,912
Previously unrecognised tax loss, tax credit or timing difference
-
0
3,830
Total deferred tax
17,953
167,704
Total tax charge
207,872
147,837
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
9
Taxation
(Continued)
- 20 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Profit before taxation
507,603
378,552
Expected tax charge based on the standard rate of corporation tax in the UK of 19.49% (2022: 19.00%)
98,948
71,925
Tax effect of expenses that are not deductible in determining taxable profit
79,316
85,817
Permanent capital allowances in excess of depreciation
(209,441)
(167,619)
Depreciation on assets not qualifying for tax allowances
221,096
161,810
Under/(over) provided in prior years
-
0
(171,800)
Deferred tax
17,953
167,704
Taxation charge for the year
207,872
147,837

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

2023
2022
£
£
Deferred tax arising on:
Revaluation of property
(708,772)
274,134
10
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2023
2022
Notes
£
£
In respect of:
Property, plant and equipment
11
169,151
257,324
Recognised in:
Administrative expenses
169,151
257,324
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
10
Impairments
(Continued)
- 21 -

Reversals of previous impairment losses have been recognised in profit or loss as follows:

2023
2022
Notes
£
£
In respect of:
Property, plant and equipment
11
24,931
-
0
Recognised in:
Administrative expenses
24,931
-

The impairment losses in respect of other tangible fixed assets are recognised in other gains and losses in the profit and loss account. These have been arrived at based on valuations provided by an independent third party valuer.

11
Tangible fixed assets
Freehold land and buildings
Improvements to property
Plant and equipment
Land not in use
Other tangible assets
Total
£
£
£
£
£
£
Cost or valuation
At 1 May 2022
8,332,467
195,601
17,089,500
1,729,346
1,184,624
28,531,538
Additions
-
0
191,579
556,987
-
0
-
748,566
Disposals
(1,107,467)
-
0
(1,167,010)
-
0
(75,000)
(2,349,477)
Revaluation
(2,417,759)
-
0
-
0
-
0
-
(2,417,759)
At 30 April 2023
4,807,241
387,180
16,479,477
1,729,346
1,109,624
24,512,868
Depreciation and impairment
At 1 May 2022
2,774,490
170,046
12,052,585
-
0
685,735
15,682,856
Depreciation charged in the year
434,288
7,479
548,693
-
0
143,765
1,134,225
Impairment losses
-
0
-
0
-
0
-
0
169,151
169,151
Reversal of past impairment
-
0
-
0
-
0
-
0
(24,931)
(24,931)
Eliminated in respect of disposals
-
0
-
0
(1,103,024)
-
0
(41,096)
(1,144,120)
At 30 April 2023
3,208,778
177,525
11,498,254
-
0
932,624
15,817,181
Carrying amount
At 30 April 2023
1,598,463
209,655
4,981,223
1,729,346
177,000
8,695,687
At 30 April 2022
5,557,977
25,555
5,036,915
1,729,346
498,889
12,848,682
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
11
Tangible fixed assets
(Continued)
- 22 -

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2023
2022
£
£
Plant and equipment
837,231
954,841

Land and buildings were revalued in November 2011 by independent valuers GVA Grimley Limited, Chartered Surveyors, who conducted a valuation on an open market value basis of vacant possession and available void space. The valuation conformed to International Valuation Standards and was based on recent market transactions on arm’s length terms for similar properties.

In May 2022, the directors re-evaluated the void available for viable economic utilisation, and based on the above valuation adjusted the carrying value of the land and buildings to reflect this, with an adjustment of £2,417,759 being made to the carrying value of the land and a corresponding adjustment made in the revaluation reserve (net of deferred taxation).

Had the freehold land and buildings not been revalued, the historic cost of these assets would have been £841,350.

12
Investment property
2023
£
Fair value
At 1 May 2022 and 30 April 2023
3,150,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out by Towler Shaw Roberts, Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis on 30 April 2022 by reference to market evidence of transaction prices for similar properties. The historical cost of the properties is £2,366,388.

 

The directors have decided that the valuation carried out at 30 April 2022 remains appropriate for the investment property as at 30 April 2023.

13
Stocks
2023
2022
£
£
Stocks
5,680
3,746
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 23 -
14
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,738,937
1,024,424
Amounts owed by group undertakings
-
0
1,599,521
Other debtors
7,024,315
4,980,179
Prepayments and accrued income
2,677,153
2,023,995
11,440,405
9,628,119
2023
2022
Amounts falling due after more than one year:
£
£
Corporation tax recoverable
311,461
311,461
Total debtors
11,751,866
9,939,580
15
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Bank loans
17
391,406
330,919
Obligations under finance leases
18
180,847
765,591
Trade creditors
1,226,192
1,294,345
Amounts owed to group undertakings
178,932
-
0
Corporation tax
341,853
151,933
Other taxation and social security
76,576
78,549
Other creditors
1,004,760
453,691
Accruals and deferred income
717,705
314,626
4,118,271
3,389,654
16
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
17
2,599,593
3,015,013
Obligations under finance leases
18
339,888
166,299
2,939,481
3,181,312
Amounts included above which fall due after five years are as follows:
Payable other than by instalments
-
436,122
SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 24 -
17
Loans and overdrafts
2023
2022
£
£
Bank loans
2,990,999
3,345,932
Payable within one year
391,406
330,919
Payable after one year
2,599,593
3,015,013

Included within borrowings are bank loans from Handelsbanken plc and Close Brothers Limited. These loans are secured by way of legal charge against the assets to which they relate. Further details of each charge can be obtained from Companies House.

 

In addition there are long-term loans included within the financial statements of Potter's Waste Management Limited (parent company) secured by mortgage debentures with HSBC Bank plc by means of fixed and floating charges. These loans have a composite company unlimited multilateral guarantee against all assets of the group and all assets of the entities that comprise it.

18
Finance lease obligations
2023
2022
Future minimum lease payments due under finance leases:
£
£
Within one year
180,846
765,591
In two to five years
339,889
166,299
520,735
931,890

Finance lease agreements are secured against the assets to which they relate. Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

 

The total interest charge incurred by the company for assets held under finance lease for the year ended 30 April 2023 was £72,415 (2022: £61,625).

19
Provisions for liabilities
2023
2022
£
£
Landfill related provisions
2,025,122
2,223,666

A provision has been made for the capping, closure and post closure costs in relation to the landfill site restoration and maintenance in accordance with the accounting policy set out in note 1.12. The company expects these costs to be incurred over the next 44 years.

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
19
Provisions for liabilities
(Continued)
- 25 -
Movements on provisions:
Landfill related provisions
£
At 1 May 2022
2,223,666
Utilisation of provision
(198,544)
At 30 April 2023
2,025,122
20
Deferred taxation

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

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
598,637
580,156
Revaluations
293,197
1,002,498
Investment property
200,942
200,941
1,092,776
1,783,595
2023
Movements in the year:
£
Liability at 1 May 2022
1,783,595
Charge to profit or loss
17,953
Credit to equity
(708,772)
Liability at 30 April 2023
1,092,776

The deferred tax liability set out above is not expected to reverse completely within the next 12 months and relates to accelerated capital allowances and the revaluation of fixed assets.

 

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 26 -
21
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
21,529
23,773

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At 30 April 2023 the company had a liability of £2,359 (2022: £3,130) due to the pension fund.

22
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
290,100
290,100
290,100
290,100
23
Revaluation reserve
2023
2022
£
£
At the beginning of the year
3,425,083
3,699,217
Effect of change in revaluation reserve
(419,175)
-
0
Prior year adjustment
-
0
(419,175)
As restated
3,005,908
3,280,042
Deferred tax on revaluation of tangible assets
708,772
-
Adjustment to deferred tax rate - tangible assets
-
(274,134)
Transfer to retained earnings
(417,329)
-
0
Other movements
(2,417,759)
-
At the end of the year
879,592
3,005,908

The revaluation reserve reflects the impact of revaluations carried out on the land at the Brynposteg landfill site. See further disclosure in note 11.

24
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
602,827
513,226
Non distributable profits in the year
(15,118)
89,601
At the end of the year
587,709
602,827

 

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 27 -
25
Profit and loss reserves
2023
2022
as restated
£
£
At the beginning of the year
11,132,688
10,991,574
Effect of adjustment to revaluation reserve
558,900
-
0
Prior year adjustment
-
0
558,900
As restated
11,691,588
11,550,474
Profit for the year
299,731
230,715
Current year profits transferred to non-distributable reserve
15,118
(89,601)
Transfer from revaluation reserve
417,329
-
0
At the end of the year
12,423,766
11,691,588
26
Related party transactions
2023
2022
£
£
Services charged and goods sold
6,246,279
4,337,242
Services and goods purchased
3,241,608
3,020,341
Amount due from related parties
9,158,855
9,610,432
Amount due to related parties
663,096
2,288,561

In addition to the above, there were sales transactions with Mr J Potter amounting to £179,234 and purchases of £87,320.

 

At 30 April 2023 there was a debtor balance of £161,159 and a creditor balance of £44,035 relating to Mr J Potter.

 

During the year the company advanced £165,097 (2022: £315,651) to Mr J Potter and repayments from the Director were £84,389 (2022: £283,775).

 

At 30 April 2023 Mr J Potter owed the company £168,199 (2022: £87,491). This balance has been repaid within 9 months of the year end.

 

 

27
Ultimate controlling party

Sundorne Products (Llanidloes) Limited is a 100% subsidiary of Potter's Waste Management Limited, a company registered in England and Wales. The registered office is Potter House, Henfaes Lane, Welshpool, Powys, Wales SY21 7BE.

 

The ultimate controlling party of Potter's Waste Management Limited is Mr J Potter by virtue of his 100% shareholding.

 

The smallest and largest group of which Sundorne Products (Llanidloes) Limited is a member is headed by Potter's Waste Management Limited.

SUNDORNE PRODUCTS (LLANIDLOES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 28 -
28
Prior period adjustment

The prior year adjustment is in relation to the amendment of the revaluation reserve for the landfill site.

Changes to the balance sheet
Balances as restated before adjustments:
As previously reported
Adjustment at 1 May 2021
As restated at 30 Apr 2022
£
£
£
Provisions for liabilities
Deferred tax
(1,923,320)
139,725
(1,783,595)
Capital and reserves
Revaluation reserve
3,425,083
(419,175)
3,005,908
Profit and loss reserves
11,735,515
558,900
12,294,415
Total equity
15,450,698
139,725
15,590,423
Changes to the profit and loss account
Balances as restated before adjustments:
As previously reported
Adjustment
As restated
Period ended 30 April 2022
£
£
£
Profit for the financial period
230,715
-
230,715
2023-04-302022-05-01falseCCH SoftwareCCH Accounts Production 2024.100Mr O A HillD M PotterDebbie PotterMr J E Potterfalsefalse033534232022-05-012023-04-3003353423bus:CompanySecretaryDirector12022-05-012023-04-3003353423bus:Director12022-05-012023-04-3003353423bus:Director22022-05-012023-04-3003353423bus:CompanySecretary12022-05-012023-04-3003353423bus:Director32022-05-012023-04-3003353423bus:RegisteredOffice2022-05-012023-04-30033534232023-04-30033534232021-05-012022-04-3003353423core:RetainedEarningsAccumulatedLosses2021-05-012022-04-3003353423core:RetainedEarningsAccumulatedLosses2022-05-012023-04-3003353423core:RevaluationReserve2021-05-012022-04-3003353423core:RevenueReservesInvestmentFundsOnly2021-05-012022-04-3003353423core:RevaluationReserve2022-05-012023-04-30033534232022-04-3003353423core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-3003353423core:LeaseholdImprovements2023-04-3003353423core:PlantMachinery2023-04-3003353423core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-04-3003353423core:LandBuildingscore:OwnedOrFreeholdAssets2022-04-3003353423core:LeaseholdImprovements2022-04-3003353423core:PlantMachinery2022-04-3003353423core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-04-3003353423core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3003353423core:CurrentFinancialInstrumentscore:WithinOneYear2022-04-3003353423core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3003353423core:Non-currentFinancialInstrumentscore:AfterOneYear2022-04-3003353423core:CurrentFinancialInstruments2023-04-3003353423core:CurrentFinancialInstruments2022-04-3003353423core:Non-currentFinancialInstruments2023-04-3003353423core:Non-currentFinancialInstruments2022-04-3003353423core:ShareCapital2023-04-3003353423core:ShareCapital2022-04-3003353423core:RevaluationReserve2023-04-3003353423core:RevaluationReserve2022-04-3003353423core:FurtherSpecificReserve1ComponentTotalEquity2023-04-3003353423core:FurtherSpecificReserve1ComponentTotalEquity2022-04-3003353423core:RetainedEarningsAccumulatedLosses2023-04-3003353423core:RetainedEarningsAccumulatedLosses2022-04-3003353423core:RevaluationReservecore:PriorPeriodIncreaseDecrease2021-04-3003353423core:RetainedEarningsAccumulatedLossescore:PriorPeriodIncreaseDecrease2021-04-3003353423core:ShareCapital2021-04-3003353423core:RevaluationReserve2021-04-3003353423core:RevaluationReservecore:IncreaseDecreaseDueToTransitionFromPreviousStandard2021-04-3003353423core:RevaluationReservecore:PriorPeriodIncreaseDecrease2022-04-3003353423core:RevaluationReserve2022-04-3003353423core:RetainedEarningsAccumulatedLossescore:IncreaseDecreaseDueToTransitionFromPreviousStandard2022-04-3003353423core:RetainedEarningsAccumulatedLossescore:IncreaseDecreaseDueToTransitionFromPreviousStandard2021-04-3003353423core:RetainedEarningsAccumulatedLossescore:PriorPeriodIncreaseDecrease2022-04-3003353423core:RetainedEarningsAccumulatedLosses2022-04-3003353423core:RetainedEarningsAccumulatedLosses2021-04-3003353423core:RevaluationReservecore:AccountingPolicyChangeIncreaseDecrease2021-04-3003353423core:RetainedEarningsAccumulatedLossescore:AccountingPolicyChangeIncreaseDecrease2021-04-3003353423core:LandBuildingscore:OwnedOrFreeholdAssets2022-05-012023-04-3003353423core:LeaseholdImprovements2022-05-012023-04-3003353423core:PlantMachinery2022-05-012023-04-3003353423core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-05-012023-04-3003353423core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment2022-05-012023-04-3003353423core:UKTax2022-05-012023-04-3003353423core:UKTax2021-05-012022-04-300335342312022-05-012023-04-300335342312021-05-012022-04-300335342322022-05-012023-04-300335342322021-05-012022-04-300335342332022-05-012023-04-300335342332021-05-012022-04-3003353423core:LandBuildingscore:OwnedOrFreeholdAssets2022-04-3003353423core:LeaseholdImprovements2022-04-3003353423core:PlantMachinery2022-04-3003353423core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-04-30033534232022-04-3003353423core:WithinOneYear2023-04-3003353423core:WithinOneYear2022-04-3003353423core:BetweenTwoFiveYears2023-04-3003353423core:BetweenTwoFiveYears2022-04-3003353423bus:PrivateLimitedCompanyLtd2022-05-012023-04-3003353423bus:FRS1022022-05-012023-04-3003353423bus:Audited2022-05-012023-04-3003353423bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP