Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31true2382332023-02-01falseNo description of principal activityfalse 01656459 2023-02-01 2024-01-31 01656459 2022-02-01 2023-01-31 01656459 2024-01-31 01656459 2023-01-31 01656459 2022-02-01 01656459 2 2023-02-01 2024-01-31 01656459 2 2022-02-01 2023-01-31 01656459 4 2023-02-01 2024-01-31 01656459 4 2022-02-01 2023-01-31 01656459 d:Director1 2023-02-01 2024-01-31 01656459 d:Director2 2023-02-01 2024-01-31 01656459 d:Director3 2023-02-01 2024-01-31 01656459 d:Director4 2023-02-01 2024-01-31 01656459 d:RegisteredOffice 2023-02-01 2024-01-31 01656459 e:PlantMachinery 2023-02-01 2024-01-31 01656459 e:PlantMachinery 2024-01-31 01656459 e:PlantMachinery 2023-01-31 01656459 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01656459 e:MotorVehicles 2023-02-01 2024-01-31 01656459 e:MotorVehicles 2024-01-31 01656459 e:MotorVehicles 2023-01-31 01656459 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01656459 e:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01656459 e:FreeholdInvestmentProperty 2024-01-31 01656459 e:FreeholdInvestmentProperty 2023-01-31 01656459 e:FreeholdInvestmentProperty 2 2023-02-01 2024-01-31 01656459 e:CurrentFinancialInstruments 2024-01-31 01656459 e:CurrentFinancialInstruments 2023-01-31 01656459 e:Non-currentFinancialInstruments 2024-01-31 01656459 e:Non-currentFinancialInstruments 2023-01-31 01656459 e:CurrentFinancialInstruments e:WithinOneYear 2024-01-31 01656459 e:CurrentFinancialInstruments e:WithinOneYear 2023-01-31 01656459 e:Non-currentFinancialInstruments e:AfterOneYear 2024-01-31 01656459 e:Non-currentFinancialInstruments e:AfterOneYear 2023-01-31 01656459 f:UnitedKingdom 2023-02-01 2024-01-31 01656459 f:UnitedKingdom 2022-02-01 2023-01-31 01656459 f:RestEuropeOutsideUK 2023-02-01 2024-01-31 01656459 f:RestEuropeOutsideUK 2022-02-01 2023-01-31 01656459 e:UKTax 2023-02-01 2024-01-31 01656459 e:UKTax 2022-02-01 2023-01-31 01656459 e:ShareCapital 2023-02-01 2024-01-31 01656459 e:ShareCapital 2024-01-31 01656459 e:ShareCapital 2022-02-01 2023-01-31 01656459 e:ShareCapital 2023-01-31 01656459 e:ShareCapital 2022-02-01 01656459 e:CapitalRedemptionReserve 2023-02-01 2024-01-31 01656459 e:CapitalRedemptionReserve 2024-01-31 01656459 e:CapitalRedemptionReserve 2022-02-01 2023-01-31 01656459 e:CapitalRedemptionReserve 2023-01-31 01656459 e:CapitalRedemptionReserve 2022-02-01 01656459 e:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 01656459 e:RetainedEarningsAccumulatedLosses 2024-01-31 01656459 e:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 01656459 e:RetainedEarningsAccumulatedLosses 2023-01-31 01656459 e:RetainedEarningsAccumulatedLosses 2022-02-01 01656459 e:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-02-01 2024-01-31 01656459 e:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-01-31 01656459 e:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-01-31 01656459 d:OrdinaryShareClass1 2023-02-01 2024-01-31 01656459 d:OrdinaryShareClass1 2024-01-31 01656459 d:OrdinaryShareClass1 2023-01-31 01656459 d:FRS102 2023-02-01 2024-01-31 01656459 d:Audited 2023-02-01 2024-01-31 01656459 d:FullAccounts 2023-02-01 2024-01-31 01656459 d:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01656459 e:WithinOneYear 2024-01-31 01656459 e:WithinOneYear 2023-01-31 01656459 e:BetweenOneFiveYears 2024-01-31 01656459 e:BetweenOneFiveYears 2023-01-31 01656459 e:MoreThanFiveYears 2024-01-31 01656459 e:MoreThanFiveYears 2023-01-31 01656459 2 2023-02-01 2024-01-31 01656459 e:AcceleratedTaxDepreciationDeferredTax 2024-01-31 01656459 e:AcceleratedTaxDepreciationDeferredTax 2023-01-31 01656459 e:TaxLossesCarry-forwardsDeferredTax 2024-01-31 01656459 e:TaxLossesCarry-forwardsDeferredTax 2023-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01656459










C D T SIDOLI (WELSHPOOL) LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
COMPANY INFORMATION


Directors
C D T Sidoli 
P A Sidoli 
S Croucher 
P Cummings 




Registered number
01656459



Registered office
Henfaes Lane

Welshpool

Powys

SY21 7BE




Independent auditors
WR Partners
Chartered Accountants & Statutory Auditors

Belmont House

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG





 
C D T SIDOLI (WELSHPOOL) LIMITED
 

CONTENTS



Page
Strategic report
 
1 - 2
Directors' report
 
3 - 5
Independent auditors' report
 
6 - 9
Statement of comprehensive income
 
10
Statement of financial position
 
11 - 12
Statement of changes in equity
 
13
Notes to the financial statements
 
14 - 31


 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

Introduction
 
The Directors present their Strategic Report for the year ended 31 January 2024. 

Business review
 
The Company has continued to face considerable challenges as a result of worldwide disruption to supply chains and markets along with the worldwide economic uncertainty. Inflation remains stubbornly high and has resulted in significant increases in input costs ranging across commodities, packaging, starches, energy and labour. However, largely due to the reorganisation and business restructure undertaken over the last few years, we have been able to manage these challenges and perform strongly in all markets. We continually review our business strategy, our product range and offering based on in-depth understanding, market insight, and customer requirements within our sector.
The global economic uncertainty and supply chain issues have continued to impact business in the UK and Europe throughout the year, although we are starting to see a return to stronger trading in all our key sectors. We have invested heavily in our workforce and skills during the past year, the benefit of which is improving efficiency and capacity which puts us in a strong position to react to continued, and future growth in all sectors.
We continue to invest in new ways of working, new systems, and extensive training, along with Solar and renewable energy in order to mitigate some of the price pressures prevalent in the market. We continue to review our business structures and are confident that we are in a good position to trade strongly through this challenging period and react positively as markets and trading conditions return to normal. We have, wherever possible, built contingency stock in raw materials to ease supply chain constrains and price inflation.
As in the past few years, the Company will continue to be subject to price pressures around commodities, along with expected regulatory and taxation increases driven by the rebuilding of the economy. We believe that with our history of fiscal prudence, continual review, and close management we are, and will remain, in a strong position to trade through these difficult situations.

Principal risks and uncertainties
 
The principal risks to the business are set out in the business review above, namely the challenging economic circumstances, in particular the broad inflationary pressures impacting the UK and the broader global economy. 
The Company’s continued success is also dependent on the retention of key personnel, and the Company aims to provide an excellent working environment and terms of employment.

Financial key performance indicators
 
The Directors monitor the performance of the Company through key performance indicators such as sales, gross margin and the diversity of its key customers.

Other key performance indicators
 
The Company uses a suite of non-financial KPIs to monitor and measure success on a weekly basis which cover the whole business operating spectrum reflecting the changing needs of the business. 
In addition other non financial areas of the business such as customer service, staff productivity and wellbeing indicators considered key to the business are also monitored using KPIs. 

Page 1

 
C D T SIDOLI (WELSHPOOL) LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024

Directors' statement of compliance with duty to promote the success of the Company
 
The Board of Directors consider, both individually and collectively, that they have acted in ways that they believe in good faith to be most likely to promote the success of the Company for the benefit of its shareholders as a whole.
We recognise our people as our most important asset and aim to be a responsible employer.  The health, safety and wellbeing of our people is of the highest importance and continually work hard to create a culture were this is paramount in our day-to-day operations.
Customers are at the heart of everything we do. This is demonstrated in our passion for desserts and dessert development together with investing heavily in Innovation, research and development so that we can continue to offer the best quality products.
We seek to develop long term partnerships with our Customers and Suppliers, which are mutually beneficial and have a reputation for transparency and fair dealing in our interactions. This ultimately benefits our customer with value and a high-quality product range.
As the Board of Directors, our intention is always to behave responsibly and to ensure that the business operates in a responsible manner, adhering to high standards of business conduct and good governance.  We recognise that the maintenance of our good reputation, founded on responsible behaviour, is fundamental to our continuing ability to achieve profitable growth for the benefit of all our stakeholders in the future.


This report was approved by the board and signed on its behalf.



C D T Sidoli
Director

Date: 25 July 2024

Page 2

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

The Directors present their report and the financial statements for the year ended 31 January 2024.

Directors' responsibilities statement

The Directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 of the profit or loss of the Company for that period.

 In preparing these financial statements, the Directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments 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 transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Results and dividends

The profit for the year, after taxation, amounted to £4,348,257 (2023 - £3,101,177).

A dividend was declared and paid during the year of £2,500,000 (2023: £5,000,000).

Directors

The Directors who served during the year were:

C D T Sidoli 
P A Sidoli 
S Croucher 
P Cummings 

Future developments

The outlook for the business is set out in the strategic report.  In investing, the business continues.
The business continues to undertake research and development activity with a view to enhancing its product quality and production processes. It also continues to invest in its infrastructure and explore the development of new geographical markets.

Page 3

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024


Research and development activities

The Company’s core R&D activities are three-fold and cover:
New product development – the development of new products and reformulation of existing
recipes, to meet new regulatory requirements (e.g. low sugar, low salt) or target new markets
(e.g. vegan or gluten-free diets);
Process improvement – substantial changes and improvements to the processes within the
Welshpool factory environment; and
Software and systems development – the design and implementation of novel software solutions
to support the changing business needs.

Engagement with employees

The Company places considerable value on the involvement of its employees and has continued its previous practice of keeping them informed on matters affecting them.

Engagement with suppliers, customers and others

Engagement with suppliers and customers is key to our sucess.  We work closely with our supply chain and take action, when necessary, to prevent involvement in modern slavery, corruption, bribrary and breaches of competition law.
The Directors recognise the importance of building strong relationships with suppliers.  Our suppliers provide products and services that helps us to execute our strategy.  We also recognise that developing a strong understanding of customers' needs and putting that into our business strategy is critical.

Disabled employees

We are responsive to the needs of our employees.  As such, should any employee of the company become disabled during their time with us, we will actively retrain that employee and make reasonable adjustments to their working environment where possible, in order to keep the employee within the company.  It is the policy of the Company that the recruitment, training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Greenhouse gas emissions, energy consumption and energy efficiency action

The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as, the appropriate information was not available to the Directors at 31 January 2023.  This information is expected to be available for the next financial period. 

Disclosure of information to auditors

Each of the persons who are Directors at the time when this Directors' report is approved has confirmed that:
 
so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 4

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024


Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

The auditorsWR Partnerswill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





C D T Sidoli
Director

Date: 25 July 2024

Page 5

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF C D T SIDOLI (WELSHPOOL) LIMITED
 

Opinion


We have audited the financial statements of C D T Sidoli (Welshpool) Limited (the 'Company') for the year ended 31 January 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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 Company's affairs as at 31 January 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' 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 United Kingdom, including the Financial Reporting Council'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.


Page 6

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF C D T SIDOLI (WELSHPOOL) LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and  our Auditors' 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.


Opinion 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 Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


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:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Page 7

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF C D T SIDOLI (WELSHPOOL) LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 3, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


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


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


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR). 
We understood how the Company is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements. 
We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities 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 Auditors' report.

Page 8

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF C D T SIDOLI (WELSHPOOL) LIMITED (CONTINUED)



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 2006Our 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 Auditors' 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.





Andrew Malpass BA FCA (Senior statutory auditor)
  
for and on behalf of
WR Partners
 
Chartered Accountants
Statutory Auditors
  
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 
Date: 
26 July 2024
Page 9

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024

2024
2023
Note
£
£

  

Turnover
 4 
32,337,150
26,883,904

Cost of sales
  
(19,459,174)
(17,166,881)

Gross profit
  
12,877,976
9,717,023

Administrative expenses
  
(6,863,728)
(5,545,055)

Other operating income
 5 
23,259
23,259

Operating profit
 6 
6,037,507
4,195,227

Gain/(loss) on revaluation of investments
  
425,976
(394,512)

Interest receivable and similar income
 10 
156,923
12,616

Interest payable and similar expenses
  
(922,580)
-

Profit before tax
  
5,697,826
3,813,331

Tax on profit
 12 
(1,349,569)
(712,154)

Profit for the financial year
  
4,348,257
3,101,177

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 14 to 31 form part of these financial statements.

Page 10

 
C D T SIDOLI (WELSHPOOL) LIMITED
REGISTERED NUMBER: 01656459

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 14 
1,501,421
1,069,959

Investment property
 15 
925,000
1,225,000

  
2,426,421
2,294,959

Current assets
  

Stocks
 16 
3,920,685
4,480,991

Debtors: amounts falling due after more than one year
 17 
-
169,923

Debtors: amounts falling due within one year
 17 
4,435,558
3,831,252

Current asset investments
 18 
4,502,413
4,076,437

Cash at bank and in hand
 19 
8,525,584
5,188,513

  
21,384,240
17,747,116

Creditors: amounts falling due within one year
 20 
(15,597,743)
(13,676,634)

Net current assets
  
 
 
5,786,497
 
 
4,070,482

Total assets less current liabilities
  
8,212,918
6,365,441

Creditors: amounts falling due after more than one year
 21 
(45,426)
(68,685)

Provisions for liabilities
  

Deferred tax
 22 
(8,619)
-

Other provisions
 23 
(360,360)
(346,500)

  
 
 
(368,979)
 
 
(346,500)

Net assets
  
7,798,513
5,950,256

Page 11

 
C D T SIDOLI (WELSHPOOL) LIMITED
REGISTERED NUMBER: 01656459
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
 24 
26,000
26,000

Capital redemption reserve
 25 
24,000
24,000

Profit and loss account
 25 
7,748,513
5,900,256

  
7,798,513
5,950,256


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C D T Sidoli
Director

Date: 25 July 2024

Page 12

 
C D T SIDOLI (WELSHPOOL) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 February 2022
26,000
24,000
7,799,079
7,849,079


Comprehensive income for the year

Loss for the year
-
-
3,101,177
3,101,177
Total comprehensive income for the year
-
-
3,101,177
3,101,177


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(5,000,000)
(5,000,000)


Total transactions with owners
-
-
(5,000,000)
(5,000,000)


At 1 February 2022
26,000
24,000
5,900,256
5,950,256


Comprehensive income for the year

Profit for the year
-
-
4,348,257
4,348,257
Total comprehensive income for the year
-
-
4,348,257
4,348,257


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(2,500,000)
(2,500,000)


Total transactions with owners
-
-
(2,500,000)
(2,500,000)


At 31 January 2024
26,000
24,000
7,748,513
7,798,513


The notes on pages 14 to 31 form part of these financial statements.

Page 13

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

C D T Sidoli (Welshpool) Limited is a Company incorporated and domiciled in the UK and has its registered office and principal place of business at Henfaes Lane, Welshpool, SY21 7BE.
The principal activity of the Company is the manufacture and production of ice cream, desserts, cakes and puddings.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquires, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements. 

  
2.3

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these
financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in
the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Sidoli Holdings Limited as at 31 January 2024 and these financial statements may be obtained from Companies House.

Page 14

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing 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 period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Revenue

Revenue 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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 15

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.7

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.8

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 16

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 17

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.13

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.14

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated 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.

Page 18

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.14
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10-33%
Motor vehicles
-
25%

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.

 
2.15

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.16

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.17

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.18

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 19

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.19

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.20

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.21

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Page 20

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.21
Financial instruments (continued)

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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.

 
2.22

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results.  In the opinion of the directors, the  estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are in respect of the investment property valuation. At the Balance Sheet date, the carrying value of investment property was £925,000. The 2024 valuations were made by the directors, on an open market value for existing use basis. 


4.


Turnover

The whole of the turnover is attributable to the manufacture and production of ice cream, desserts, cakes and puddings.

Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
30,977,493
25,548,363

Rest of Europe
1,359,657
1,335,541

32,337,150
26,883,904




Page 21

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Other operating income

2024
2023
£
£

Government grants receivable
23,259
23,259

23,259
23,259



6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Exchange differences
(50,313)
12,667

Other operating lease rentals
558,696
503,665


7.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
32,000
30,700

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.

Page 22

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Employees

Staff costs, including Directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
6,876,737
5,623,006

Social security costs
517,350
444,834

Cost of defined contribution scheme
124,447
115,100

7,518,534
6,182,940


The average monthly number of employees, including the Directors, during the year was as follows:


        2024
        2023
            No.
            No.







233
238


9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
1,345,636
327,620

Company contributions to defined contribution pension schemes
17,237
15,071

1,362,873
342,691


During the year retirement benefits were accruing to 2 Directors (2023 - 2) in respect of defined contribution pension schemes.

The highest paid Director received remuneration of £1,111,420 (2023 - £145,455).

The Directors are considered to constitute the key management personnel of the Company.

Page 23

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Interest receivable

2024
2023
£
£


Other interest receivable
156,923
12,616

156,923
12,616


11.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
922,580
-

922,580
-


12.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
1,171,027
595,821


1,171,027
595,821


Total current tax
1,171,027
595,821

Deferred tax


Origination and reversal of timing differences
178,542
116,333

Total deferred tax
178,542
116,333


Taxation on profit on ordinary activities
1,349,569
712,154
Page 24

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
12.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 24% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
5,697,826
3,813,331


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 24% (2023 - 19%)
1,367,478
724,533

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
(30,535)
72,862

Capital allowances for year in excess of depreciation
(157,567)
(78,418)

Adjustments to tax charge in respect of prior periods
-
(132,285)

Deferred tax charge
178,542
116,333

Book (profit)/loss on chargeable assets
(10,156)
9,530

Changes in provisions leading to an increase (decrease) in the tax charge
1,807
(401)

Total tax charge for the year
1,349,569
712,154


Factors that may affect future tax charges

From 1 April 2023, the main rate of Corporation Tax has increased from 19% to 25% for companies with profits exceeding £250,000.


13.


Dividends

2024
2023
£
£


Dividends
2,500,000
5,000,000

2,500,000
5,000,000

Page 25

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

14.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 February 2023
10,368,954
250,246
10,619,200


Additions
664,542
218,447
882,989


Disposals
(15,283)
(157,824)
(173,107)



At 31 January 2024

11,018,213
310,869
11,329,082



Depreciation


At 1 February 2023
9,442,700
106,541
9,549,241


Charge for the year on owned assets
323,074
57,561
380,635


Disposals
(15,274)
(86,941)
(102,215)



At 31 January 2024

9,750,500
77,161
9,827,661



Net book value



At 31 January 2024
1,267,713
233,708
1,501,421



At 31 January 2023
926,254
143,705
1,069,959

Page 26

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

15.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
1,225,000


Deficit on revaluation
(300,000)



At 31 January 2024
925,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.



At 31 January 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,225,000
1,225,000

1,225,000
1,225,000


16.


Stocks

2024
2023
£
£

Raw materials and consumables
2,045,823
2,358,754

Finished goods and goods for resale
1,874,862
2,122,237

3,920,685
4,480,991


Within cost of sales there is an obsolete stock provision of £20,571 (2023: £95,653).

Page 27

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

17.


Debtors

2024
2023
£
£

Due after more than one year

Deferred tax asset
-
169,923

-
169,923


2024
2023
£
£

Due within one year

Trade debtors
4,025,561
3,398,673

Other debtors
366,469
393,833

Prepayments and accrued income
43,528
38,746

4,435,558
3,831,252



18.


Current asset investments

2024
2023
£
£

Unlisted investments
4,502,413
4,076,437

4,502,413
4,076,437



19.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,525,584
5,188,513

8,525,584
5,188,513


Page 28

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

20.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
878,481
815,795

Amounts owed to group undertakings
11,944,586
11,506,455

Corporation tax
718,769
407,742

Other taxation and social security
109,997
98,426

Other creditors
183,264
232,050

Accruals and deferred income
1,762,646
616,166

15,597,743
13,676,634



21.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Accruals and deferred income
45,426
68,685

45,426
68,685



22.


Deferred taxation




2024


£






At beginning of year
169,923


Charged to profit or loss
(178,542)



At end of year
(8,619)

Page 29

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
22.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(13,062)
167,318

Short term timing differences
4,443
2,605

(8,619)
169,923


23.


Provisions




Dilapidation provision

£





At 1 February 2023
346,500


Charged to profit or loss
13,860



At 31 January 2024
360,360


24.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



26,000 (2023 - 26,000) Ordinary shares of £1.00 each
26,000
26,000



25.


Reserves

Capital redemption reserve

The capital redemption reserve represents the value of share repurchases made by the Company since incorporation.

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders.

Page 30

 
C D T SIDOLI (WELSHPOOL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


26.


Pension commitments

The Company contributes to a defined contribution pension scheme for the benefit of eligible employees. The pension charge for the year was £124,447 (2023: £116,302). At the balance sheet date there were amounts payable totalling £17,771 (2023: £10,420).


27.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
225,771
188,145

Later than 1 year and not later than 5 years
448,264
232,804

Later than 5 years
91,273
20,186

765,308
441,135


28.


Transactions with directors

During the prior year, the company had no transactions with directors (2023: £NIL). 


29.


Related party transactions

The Company has taken advantage of the exemption within FRS102 to not disclose transactions with group members. All such transactions are included in the consolidated accounts of Sidoli Holdings Limited, the parent Company of this Company.


30.


Controlling party

The ultimate parent undertaking of the Company is Sidoli Holdings Limited, a Company which owns 100% of the issued share capital of the Company.
The ultimate controlling party is C D T Sidoli by virtue of his majority shareholding in Sidoli Holdings Limited.

 
Page 31