Company registration number 12470357 (England and Wales)
NOON GROUP HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
NOON GROUP HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr M Noon
Mr R K Noon
Mr S K Noon
Company number
12470357
Registered office
Prospect House
1 Prospect Place
Pride Park
Derby
DE24 8HG
Auditor
PKF Smith Cooper Audit Limited
Prospect House
1 Prospect Place
Pride Park
Derby
DE24 8HG
Business address
Major House Unit 1/3
Wimsey Way
Somercotes
Alfreton
DE55 4LS
NOON GROUP HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 28
NOON GROUP HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

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

Fair review of the business

The Group has achieved turnover of £19,937,071, up 15% on prior year (2022: £17,371,113) for the period ended 31st December 2023. The Group generated a profit before tax of £3,876,025 (2022: £1,624,440) and continues to maintain a strong and passionate workforce employing 37 members of staff. The turnover growth has been achieved by investing in increased storage space enabling the Group to reduce lead times and increase sales volumes).

The Group has net assets of £9,912,384 (2022: £7,544,751) and net current assets of £9,301,521 (2022: £6,883,267) highlighting the financial performance in the year and the strength of The Group overall.

The Group has a liquidity ratio of 4.5:1 which shows the bank loans are sufficiently covered by The Group's cash and debtor balances.

Principal risks and uncertainties

The Group has considered the principal risks and uncertainties to which it is exposed, and this is taken into account when making key strategic decisions. The main risks to the Group include rising business costs including interest rates, increased regulation, foreign currency exposure, supply chain interruptions and competition.

The Directors constantly monitor all potential challenges to the business and proactively take steps to reduce the likelihood and/or impact of all risks.

One way the Group reduces foreign currency exposure is to enter into forward currency contracts. These can have specific end dates or be open for one to six months, providing flexibility over the drawdown and timing of foreign currency loan repayments. Forward contracts are a great way of having visibility of the cost of purchases for a period of time allowing us to provide more certainty to customers on price.

The Group now has the highest stock levels ever which has helped significantly with ensuring our customers’ demands are served as quickly as possible following investment in storage space. At the same time, import loans are being paid off sooner, not only to reduce our reliance on the credit facility with the bank, but also to reduce the impact of high interest rates. The impact on cash flow has been offset by cash generated from increased sales, made possible by holding higher stock levels.

Over the last 36 months Rock Fall have been working hard to reduce imports from China, visiting suppliers in Turkey, Pakistan and India. More of our products have been switched over to these countries, reducing our reliance in China and helping cut emissions significantly.

The Group strives to set itself apart from the competition in many ways. Foot scanning days, wearer trials and liaising with end users directly to bring new, market-led, styles to the safety footwear marketplace.

Our vegan-friendly safety footwear are the first in the UK to be accredited by The Vegan Society and these are just one of the many new innovative products we have on the market.

NOON GROUP HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -

The Group is in the process of changing the materials and components of all its styles in order to comply with new legislation, improve sustainability and reduce co2 emissions, wherever possible. This includes switching all of our penetration midsole protection materials to include new advanced technologies.

Over the past 30 months we have upgraded approximately 95% of our product range to include elements of sustainability, including rPET woven labels, lining, laces and Biomaterial eco-friendly footbeds where possible. We have also introduced styles into our product range which include 60% recycled waterproof lining with plans for more products currently in development to be released.

Following a collaboration with the female support network group “Bold as Brass” we have made two further safety boots specifically designed for women. We are the only footwear provider in the UK to offer a size 18 safety work boot. We also offer a super wide fitting boot suitable for wearers with medical conditions. Rockfall are constantly striving to satisfy the demands of our wearers, we do this by actively engaging with end-users, looking for gaps in the market, researching appropriate materials and incorporating these into our latest products.

These changes do not happen overnight, we need to research, source and test each new material in every product to ensure they meet the relevant safety standards, and all being sourced from ethically certified suppliers.

In addition, we have changed all of our packaging to be 100% FSC-certified recycled and recyclable cardboard, we also use soy-based bio-ink and water-based glues where possible.

However, we do not stop there, our objective is to continue to reduce our impact on the environment and to endeavour to be as close to net-zero as possible. We do this by working with The Higg Index and organisations such as Positive Planet; employing them to help analyse our operations to target the best ways of reducing emissions. This ensures we don’t rely on carbon credits to pay for tree planting or other inappropriate projects when we can embed corporate and social responsibility into our company culture as well as our brand.

We are also continually developing and assessing new technologies to improve the safety features of our footwear and have already heavily invested in R-Lab, our own product testing facility, which we hope to further invest and build upon. This will have the benefits of helping our designers to move faster on new developments, bringing new technology to market and ensuring we remain as market leaders in safety footwear.

The Group is also:

Benefits to our customers:

We believe one of our biggest investments must be in our workforce, our staff are the lifeblood of the business and we ensure that we pay the National Living Wage, invest in their care by having trained mental health first aiders and offer them growth. Our staff are encouraged to take training courses and further their skills in areas related to their roles within the business, as our business grows these costs magnify, but employee development is an asset for future expansion.

NOON GROUP HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
Key performance indicators

Key performance indicators for the Group are, turnover, liquidity ratio, gross margin and net margin.

                        2023            2022

Turnover £000’s                    19,937            17,371        

Liquidity Ratio                    4.5:1            2.8:1

Gross Margin £000’s                6,678            4,257

Gross Margin %                    33.5            24.5

Net Margin £000’s                3,876            1,624

Net Margin %                    19.44            9.3

 

The Group takes IT and Security seriously, investing £47,487 (2022: £101,065) in new systems, upgrades and replacements including Password Managers, Cloud Storage, Servers, CCTV and upgraded equipment.

During the year the Group made 5 (2022: 4) new administration positions available in order to facilitate growth and maintain excellent customer service.

On behalf of the board

Mr R K Noon
Director
1 August 2024
NOON GROUP HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -

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

Principal activities

The principal activity of the Company is that of a holding company.

 

The principal activity of the Group continues to be that of purchasing, manufacturing and resale of footwear through wholesale and retail distribution.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £500,596. The directors do not recommend payment of a further dividend.

Directors

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

Mr M Noon
Mr R K Noon
Mr S K Noon
Auditor

Under section 487(2) of the Companies Act 2006, PKF Smith Cooper Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

Statement of disclosure to auditor

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

On behalf of the board
Mr R K Noon
Director
1 August 2024
NOON GROUP HOLDINGS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -

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

 

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

 

 

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

NOON GROUP HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF NOON GROUP HOLDINGS LIMITED
- 6 -
Opinion

We have audited the financial statements of Noon Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Group Statement of Comprehensive Income, the Group and Company Balance Sheets, the Group Statement of Cash Flows, the Group and Company Statement of Changes in Equity the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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

Conclusions relating to going concern

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

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

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

Other information

The 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:

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

In the light of the knowledge and understanding of the group and the parent company and their 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 set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

Based on our understanding of the Group and industry, we identify the key laws and regulations affecting the Group and Company. We identified that the principal risk of fraud or non-compliance with laws and regulations related to:

We focused on those areas that could give rise to a material misstatement in the Group financial statements. Our procedures included, but were not limited to:

NOON GROUP HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF NOON GROUP HOLDINGS LIMITED
- 8 -

 

It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

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.

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.

James Delve
(Senior Statutory Auditor)
For and on behalf of PKF Smith Cooper Audit Limited
2 August 2024
1 Prospect Place
Pride Park
Derby
DE24 8HG
NOON GROUP HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
2023
2022
Notes
£
£
Turnover
3
19,937,071
17,371,113
Cost of sales
(13,258,654)
(13,114,422)
Gross profit
6,678,417
4,256,691
Administrative expenses
(2,783,646)
(2,562,969)
Other operating income
23,990
4,179
Operating profit
4
3,918,761
1,697,901
Interest receivable and similar income
7
64,889
6,148
Interest payable and similar expenses
8
(107,625)
(79,609)
Profit before taxation
3,876,025
1,624,440
Tax on profit
9
(1,007,796)
(69,110)
Profit for the financial year
22
2,868,229
1,555,330
Profit for the financial year is all attributable to the owners of the parent company.

There was no other comprehensive income for 2023 (2022: NIL).

NOON GROUP HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 10 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
11
445
778
Tangible assets
12
648,794
598,404
649,239
599,182
Current assets
Stocks
15
3,456,514
3,205,453
Debtors
16
3,089,819
3,546,314
Cash at bank and in hand
5,421,842
3,956,027
11,968,175
10,707,794
Creditors: amounts falling due within one year
17
(2,666,654)
(3,824,527)
Net current assets
9,301,521
6,883,267
Total assets less current liabilities
9,950,760
7,482,449
Provisions for liabilities
Deferred tax liability
19
38,376
(62,302)
(38,376)
62,302
Net assets
9,912,384
7,544,751
Capital and reserves
Called up share capital
21
100
100
Other reserves
22
4,375,347
4,375,347
Profit and loss reserves
22
5,536,937
3,169,304
Total equity
9,912,384
7,544,751
The financial statements were approved by the board of directors and authorised for issue on 1 August 2024 and are signed on its behalf by:
01 August 2024
Mr R K Noon
Director
Company registration number 12470357 (England and Wales)
NOON GROUP HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 11 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
12
433,676
425,687
Investments
13
101
101
433,777
425,788
Current assets
Debtors
16
1,247,247
152,900
Cash at bank and in hand
375,236
356,950
1,622,483
509,850
Creditors: amounts falling due within one year
17
(376,597)
(73,972)
Net current assets
1,245,886
435,878
Total assets less current liabilities
1,679,663
861,666
Provisions for liabilities
Deferred tax liability
19
19,942
-
0
(19,942)
-
Net assets
1,659,721
861,666
Capital and reserves
Called up share capital
21
100
100
Profit and loss reserves
22
1,659,621
861,566
Total equity
1,659,721
861,666

As permitted by s408 Companies Act 2006, the Company has not presented its own profit and loss account and related notes. The Company’s profit for the year was £1,298,651 (2022 - £924,004 profit).

The financial statements were approved by the board of directors and authorised for issue on 1 August 2024 and are signed on its behalf by:
01 August 2024
Mr R K Noon
Director
Company registration number 12470357 (England and Wales)
NOON GROUP HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 12 -
Share capital
Merger Reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2022
100
4,375,347
1,983,282
6,358,729
Year ended 31 December 2022:
Profit and total comprehensive income for the year
-
-
1,555,330
1,555,330
Dividends
10
-
-
(369,308)
(369,308)
Balance at 31 December 2022
100
4,375,347
3,169,304
7,544,751
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
2,868,229
2,868,229
Dividends
10
-
-
(500,596)
(500,596)
Balance at 31 December 2023
100
4,375,347
5,536,937
9,912,384
NOON GROUP HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2022
100
306,870
306,970
Year ended 31 December 2022:
Profit and total comprehensive income for the year
-
924,004
924,004
Dividends
10
-
(369,308)
(369,308)
Balance at 31 December 2022
100
861,566
861,666
Year ended 31 December 2023:
Profit and total comprehensive income
-
1,298,651
1,298,651
Dividends
10
-
(500,596)
(500,596)
Balance at 31 December 2023
100
1,659,621
1,659,721
NOON GROUP HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 14 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
4,134,081
83,314
Interest paid
(107,625)
(79,609)
Income taxes paid
(698,985)
(289,499)
Net cash inflow/(outflow) from operating activities
3,327,471
(285,794)
Investing activities
Purchase of intangible assets
-
(1,000)
Purchase of tangible fixed assets
(141,604)
(110,654)
Proceeds from disposal of tangible fixed assets
21,501
3,999
Repayment of loans
-
(100)
Interest received
64,889
6,148
Net cash used in investing activities
(55,214)
(101,607)
Financing activities
Repayment of bank loans
(1,305,846)
1,211,305
Dividends paid to equity shareholders
(500,596)
(369,308)
Net cash (used in)/generated from financing activities
(1,806,442)
841,997
Net increase in cash and cash equivalents
1,465,815
454,596
Cash and cash equivalents at beginning of year
3,956,027
3,501,431
Cash and cash equivalents at end of year
5,421,842
3,956,027
NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 15 -
1
Accounting policies
Company information

Noon Group Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Prospect House, 1 Prospect Place, Pride Park, Derby, DE24 8HG. The company registration number is 12470357.

 

The Group consists of Noon Group Holdings Limited and all of its subsidiaries.

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.

1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Noon Group Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the Group’s share of its interests in joint ventures and associates.

 

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

 

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

Subsidiaries are consolidated in the Group’s financial statements from the date that control commences until the date that control ceases.

 

When the Group has acquired subsidiary entities by the issue of shares in itself it has taken advantage of the mergers relief provisions of the Companies Act and has accounted for the difference between the nominal value of the shares issued and the fair value of the assets acquired via the merger relief reserve rather than creating a share premium account.

1.3
Going concern

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

1.4
Turnover

Turnover is recognised 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 16 -

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.6
Intangible fixed assets other than goodwill

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

 

Amortisation is recognised so as to write off the cost of assets over their useful lives on the following bases:

Software
33% straight line
1.7
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.

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
no depreciation charged
Leasehold property
20% straight line
Plant and equipment
15% reducing balance
Fixtures and fittings
25%-33% straight line
Motor vehicles
25% reducing balance

Freehold land and assets in the course of construction are not depreciated.

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 recognised in the profit and loss account.

The directors do not consider it appropriate to depreciate freehold property since, in their opinion, any charge to depreciation would be immaterial as the estimated residual value of the buildings is not materially different from the carrying value of the building.

1.8
Fixed asset investments

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

 

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

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

NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 17 -
1.9
Stocks

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

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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

1.10
Cash and cash equivalents

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

1.11
Financial instruments
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.

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.

 

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.

1.12
Taxation

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

NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 18 -
Current tax

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

Deferred tax

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

 

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

1.13
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.

 

1.14
Retirement benefits

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

Amounts not paid are shown in other creditors as a liability in the balance sheet.

 

1.15
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

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.

1.16
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.

1.17

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.

NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 19 -
2
Judgements and key sources of estimation uncertainty

In the application of the Group’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 period

 

The directors do not consider there to be any key sources of estimation uncertainty other than not providing for depreciation on freehold property based on the opinion that the estimated residual value of the buildings are not materially different from the carrying value.

 

3
Turnover and other revenue
2023
2022
£
£
Turnover analysed by geographical market
United Kingdom
18,930,221
16,532,318
Europe
834,246
581,980
Rest of the world
172,604
256,815
19,937,071
17,371,113
2023
2022
£
£
Other revenue
Interest income
64,889
6,148
4
Operating profit
2023
2022
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange (gains)/losses
(66,918)
312,383
Research and development costs
60,975
75,826
Depreciation of owned tangible fixed assets
66,562
50,379
Loss/(profit) on disposal of tangible fixed assets
3,151
(1,740)
Amortisation of intangible assets
333
222
Operating lease charges
293,896
263,113
NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 20 -
5
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
2,100
2,000
Audit of the financial statements of the company's subsidiaries
9,450
9,000
11,550
11,000
6
Employees

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

Group
Company
2023
2022
2023
2022
Number
Number
Number
Number
39
36
3
3

Their aggregate remuneration comprised:

Group
Company
2023
2022
2023
2022
£
£
£
£
Wages and salaries
1,244,460
1,026,680
-
0
-
0
Social security costs
124,351
104,804
-
-
Pension costs
209,443
17,712
-
0
-
0
1,578,254
1,149,196
-
0
-
0

Included in the amounts above are directors' pension contributions of £180,457 (2022: £323).

 

 

 

 

 

 

 

 

 

 

 

 

7
Interest receivable and similar income
2023
2022
£
£
Interest income
Interest on bank deposits
64,889
5,993
Other interest income
-
155
Total income
64,889
6,148
NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 21 -
8
Interest payable and similar expenses
2023
2022
£
£
Interest on bank overdrafts and loans
107,625
79,609
9
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
907,257
305,378
Adjustments in respect of prior periods
(139)
(161,494)
Total current tax
907,118
143,884
Deferred tax
Origination and reversal of timing differences
100,678
(74,774)
Total tax charge
1,007,796
69,110

The tax assessed for the year is greater than (2022: lower than) the standard rate of corporation tax in the UK of 23.52% (2022: 19%) as set out below.

2023
2022
£
£
Profit before taxation
3,876,025
1,624,440
Expected tax charge based on the standard rate of corporation tax in the UK of 23.52% (2022: 19.00%)
911,641
308,644
Tax effect of expenses that are not deductible in determining taxable profit
1,480
2,759
Adjustments in respect of prior years
(139)
(161,494)
Deferred tax adjustments in respect of prior years
94,409
(26,425)
Fixed asset differences
79
(39,420)
Remeasurement of deferred tax for changes in tax rates
326
(14,954)
Taxation charge
1,007,796
69,110
10
Dividends
2023
2022
Recognised as distributions to equity holders:
£
£
Final paid
500,596
369,308
NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 22 -
11
Intangible fixed assets
Group
Software
£
Cost
At 1 January 2023 and 31 December 2023
77,677
Amortisation
At 1 January 2023
76,899
Amortisation charged for the year
333
At 31 December 2023
77,232
Carrying amount
At 31 December 2023
445
At 31 December 2022
778
The Company had no intangible fixed assets at 31 December 2023 or 31 December 2022.
12
Tangible fixed assets
Group
Freehold land and buildings
Leasehold property
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2023
425,687
7,737
63,517
81,869
145,880
724,690
Additions
-
0
-
0
13,614
43,753
84,237
141,604
Disposals
-
0
-
0
-
0
-
0
(39,590)
(39,590)
At 31 December 2023
425,687
7,737
77,131
125,622
190,527
826,704
Depreciation
At 1 January 2023
-
0
1,418
25,683
47,713
51,472
126,286
Depreciation charged in the year
-
0
1,547
12,110
20,029
32,876
66,562
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(14,938)
(14,938)
At 31 December 2023
-
0
2,965
37,793
67,742
69,410
177,910
Carrying amount
At 31 December 2023
425,687
4,772
39,338
57,880
121,117
648,794
At 31 December 2022
425,687
6,319
37,834
34,156
94,408
598,404
NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
12
Tangible fixed assets
(Continued)
- 23 -
Company
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2023
425,687
-
0
425,687
Additions
-
0
7,989
7,989
At 31 December 2023
425,687
7,989
433,676
Depreciation
At 1 January 2023 and 31 December 2023
-
0
-
0
-
0
Carrying amount
At 31 December 2023
425,687
7,989
433,676
At 31 December 2022
425,687
-
0
425,687
NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 24 -
13
Fixed asset investments
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
101
101
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2023 and 31 December 2023
101
Carrying amount
At 31 December 2023
101
At 31 December 2022
101
14
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Rockfall UK Limited
UK
ORDINARY
100.00
Rockfall North America Limited
UK
ORDINARY
100.00
15
Stocks
Group
Company
2023
2022
2023
2022
£
£
£
£
Finished goods and goods for resale
3,456,514
3,205,453
-
0
-
0
16
Debtors
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Trade debtors
2,968,778
3,428,912
-
0
-
0
Amounts owed by group undertakings
-
-
77,147
52,800
Other debtors
3,456
10,260
100
100
Prepayments and accrued income
117,585
107,142
1,170,000
100,000
3,089,819
3,546,314
1,247,247
152,900
NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
16
Debtors
(Continued)
- 25 -

Included within other debtors is a director’s loan account totalling £100 (2022: £100). This amount is unsecured, interest free and repayable on demand.

17
Creditors: amounts falling due within one year
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans
18
1,477,616
2,783,462
-
0
-
0
Trade creditors
149,639
250,753
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
101
101
Corporation tax payable
363,485
155,352
324,596
46,271
Other taxation and social security
104,557
57,641
49,400
26,400
Other creditors
156,310
87,146
-
0
-
0
Accruals and deferred income
415,047
490,173
2,500
1,200
2,666,654
3,824,527
376,597
73,972

Amounts owed to Group undertakings are unsecured, interest free and repayable on demand.

18
Loans and overdrafts
Group
Company
2023
2022
2023
2022
£
£
£
£
Bank loans
1,477,616
2,783,462
-
0
-
0
Payable within one year
1,477,616
2,783,462
-
0
-
0

The Group has access to an import loan facility with a limit of £3,000,000. Each maximum loan period is between 100-160 days. Interest is charged at 1.8% per annum over the base rate.

19
Deferred taxation

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

Liabilities
Liabilities
2023
2022
Group
£
£
Accelerated capital allowances
38,946
(61,920)
Short term timing differences
(570)
(382)
38,376
(62,302)
NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
19
Deferred taxation
(Continued)
- 26 -
Liabilities
Liabilities
2023
2022
Company
£
£
Accelerated capital allowances
19,942
-
Group
Company
2023
2023
Movements in the year:
£
£
Asset at 1 January 2023
(62,302)
-
Charge to profit or loss
100,678
19,942
Liability at 31 December 2023
38,376
19,942

The expected net reversal of deferred tax is not expected to be material.

20
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
209,443
17,712

Contributions totalling £4,975 ( 2022: £3,945) were payable to the fund at the balance sheet date.

 

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the Group in an independently administered fund.

21
Share capital
Group and company
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
60
60
60
60
Ordinary B of £1 each
20
20
20
20
Ordinary C of £1 each
20
20
20
20
100
100
100
100

Each class of share has full rights in the company with respect to voting, dividends and distributions.

NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 27 -
22
Reserves

Merger Reserve

A reserve arising on consolidation, representing the difference between book values aquired and consideration paid upon acquisition of subsidiary investments.

Profit and loss reserves

Includes all distributable current and prior period retained earnings.

23
Operating lease commitments
Lessee

At the reporting end date the Group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2023
2022
2023
2022
£
£
£
£
Within one year
364,920
182,460
-
-
Between two and five years
40,202
188,353
-
-
405,122
370,813
-
-
24
Related party transactions

During the year, the Group paid £71,200 (2022: £67,200) in respect of rent charges to a director.

Included within other debtors is a directors loan account totalling £100 (2022: £100). This loan is unsecured, interest free and repayable on demand.

No one outside of the directors are considered to be key management personnel.

NOON GROUP HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 28 -
25
Cash generated from group operations
2023
2022
£
£
Profit for the year after tax
2,868,229
1,555,330
Adjustments for:
Taxation charged
1,007,796
69,110
Finance costs
107,625
79,609
Investment income
(64,889)
(6,148)
Loss/(gain) on disposal of tangible fixed assets
3,151
(1,740)
Amortisation and impairment of intangible assets
333
222
Depreciation and impairment of tangible fixed assets
66,562
50,379
Movements in working capital:
Increase in stocks
(251,061)
(277,028)
Decrease/(increase) in debtors
456,495
(1,776,717)
(Decrease)/increase in creditors
(60,160)
390,297
Cash generated from operations
4,134,081
83,314
26
Analysis of changes in net funds - group
1 January 2023
Cash flows
31 December 2023
£
£
£
Cash at bank and in hand
3,956,027
1,465,815
5,421,842
Borrowings excluding overdrafts
(2,783,462)
1,305,846
(1,477,616)
1,172,565
2,771,661
3,944,226
2023-12-312023-01-01falseCCH SoftwareCCH Accounts Production 2024.100Mr M NoonMr R K NoonMr S K Noonfalse12470357bus:Consolidated2023-01-012023-12-31124703572023-01-012023-12-3112470357bus:Director12023-01-012023-12-3112470357bus:Director22023-01-012023-12-3112470357bus:Director32023-01-012023-12-3112470357bus:RegisteredOffice2023-01-012023-12-3112470357bus:Consolidated2023-12-31124703572023-12-3112470357bus:Consolidated2022-01-012022-12-31124703572022-01-012022-12-3112470357core:OtherResidualIntangibleAssetsbus:Consolidated2023-12-3112470357core:OtherResidualIntangibleAssetsbus:Consolidated2022-12-3112470357core:ComputerSoftwarebus:Consolidated2023-12-3112470357core:ComputerSoftwarebus:Consolidated2022-12-3112470357bus:Consolidated2022-12-31124703572022-12-3112470357core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-12-3112470357core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-12-3112470357core:PlantMachinerybus:Consolidated2023-12-3112470357core:FurnitureFittingsbus:Consolidated2023-12-3112470357core:MotorVehiclesbus:Consolidated2023-12-3112470357core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-12-3112470357core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2022-12-3112470357core:PlantMachinerybus:Consolidated2022-12-3112470357core:FurnitureFittingsbus:Consolidated2022-12-3112470357core:MotorVehiclesbus:Consolidated2022-12-3112470357core:LandBuildingscore:OwnedOrFreeholdAssets2023-12-3112470357core:FurnitureFittings2023-12-3112470357core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3112470357core:FurnitureFittings2022-12-3112470357core:ShareCapitalbus:Consolidated2023-12-3112470357core:ShareCapitalbus:Consolidated2022-12-3112470357core:OtherMiscellaneousReservebus:Consolidated2023-12-3112470357core:OtherMiscellaneousReservebus:Consolidated2022-12-3112470357core:ShareCapital2023-12-3112470357core:ShareCapital2022-12-3112470357core:RetainedEarningsAccumulatedLosses2023-12-3112470357core:ShareCapitalbus:Consolidated2021-12-3112470357core:RetainedEarningsAccumulatedLossesbus:Consolidated2021-12-3112470357core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-12-3112470357core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-12-3112470357core:ShareCapital2021-12-3112470357core:RetainedEarningsAccumulatedLosses2021-12-3112470357core:RetainedEarningsAccumulatedLosses2022-12-3112470357bus:Consolidated2021-12-3112470357core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112470357core:ComputerSoftware2023-01-012023-12-3112470357core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-012023-12-3112470357core:LandBuildingscore:LongLeaseholdAssets2023-01-012023-12-3112470357core:PlantMachinery2023-01-012023-12-3112470357core:FurnitureFittings2023-01-012023-12-3112470357core:MotorVehicles2023-01-012023-12-3112470357core:UKTaxbus:Consolidated2023-01-012023-12-3112470357core:UKTaxbus:Consolidated2022-01-012022-12-3112470357bus:Consolidated12023-01-012023-12-3112470357bus:Consolidated12022-01-012022-12-3112470357bus:Consolidated22023-01-012023-12-3112470357bus:Consolidated22022-01-012022-12-3112470357core:ComputerSoftwarebus:Consolidated2022-12-3112470357core:ComputerSoftwarebus:Consolidated2023-01-012023-12-3112470357core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2022-12-3112470357core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2022-12-3112470357core:PlantMachinerybus:Consolidated2022-12-3112470357core:FurnitureFittingsbus:Consolidated2022-12-3112470357core:MotorVehiclesbus:Consolidated2022-12-3112470357bus:Consolidated2022-12-3112470357core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3112470357core:FurnitureFittings2022-12-31124703572022-12-3112470357core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-01-012023-12-3112470357core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-01-012023-12-3112470357core:PlantMachinerybus:Consolidated2023-01-012023-12-3112470357core:FurnitureFittingsbus:Consolidated2023-01-012023-12-3112470357core:MotorVehiclesbus:Consolidated2023-01-012023-12-3112470357core:CurrentFinancialInstruments2023-12-3112470357core:CurrentFinancialInstruments2022-12-3112470357core:CurrentFinancialInstrumentsbus:Consolidated2023-12-3112470357core:CurrentFinancialInstrumentsbus:Consolidated2022-12-3112470357core:WithinOneYearbus:Consolidated2023-12-3112470357core:WithinOneYearbus:Consolidated2022-12-3112470357core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3112470357core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3112470357core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-12-3112470357core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2022-12-3112470357bus:PrivateLimitedCompanyLtd2023-01-012023-12-3112470357bus:FRS1022023-01-012023-12-3112470357bus:Audited2023-01-012023-12-3112470357bus:ConsolidatedGroupCompanyAccounts2023-01-012023-12-3112470357bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP