Company registration number 12280059 (England and Wales)
ANGLIAN WASTE RECYCLING GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
ANGLIAN WASTE RECYCLING GROUP LIMITED
COMPANY INFORMATION
Directors
Mr L M Storer
Mr R Eastaff
Mrs T A Storer
Mr M Clayton
Mr M Garner
Mr A Rackham
Company number
12280059
Registered office
Anglian Business Centre
West Carr Road
Attleborough
NR17 1AN
Auditor
Mapus-Smith & Lemmon LLP
23 London Road
Downham Market
Norfolk
PE38 9BJ
ANGLIAN WASTE RECYCLING GROUP LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Profit and loss account
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 - 30
ANGLIAN WASTE RECYCLING GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 1 -
The directors present the strategic report for the year ended 30 November 2023.
Review of the business
The Directors consider the results for the year to be positive and in keeping with their initial expectations. Having worked through the aftermath of the COVID pandemic and economic uncertainties, including the abolition of Red Deisel, the energy crisis and labour shortfalls, they believe the business to be in a robust position and well aligned for growth in the next financial year.
Strategic change in the services provided (namely into the waste industry) and overall marketing strategy of the company's core business has resulted in a broader client base across different commercial sectors. Emphasis has been given to contractual or longer duration jobs – including commercial waste contracts and scaffold projects within the housing sector.
This year saw the consolidation of the site planning permissions and environmental permits, enabling a far greater range of activities to be carried out, consistent with the companies planned expansion.
Safety, Sustainability and Profitability remain to be the main driver within the Group, which cascades through from the Board, through management to the remaining staff. Staff are encouraged to maximise profits at quotation stage and through working efficiencies. A strategic review of the management team has resulted in the introduction of a recruitment strategy that puts an emphasis on the business acument of the individual, which is not necessarily industry specific but transferable skills that will aid the growth and professionalism business.
A plan has been put in place to encourage staff retention, improve motivation and competency - this includes training, mentoring and career progression. Selling all the services Anglian offer have been encouraged and starting to come to fruition.
Overall the Board are pleased with the results and look forward to the coming financial year to see this foundation built upon.
Principal risks and uncertainties
The Groups operations expose it to a variety of financial risks that include credit risk and liquidity risk. The Directors have established and implemented policies to manage these financial risks and review them on a regular basis. The process is considered to be effective given the size and nature of the risks involved, but will be reviewed in the future should circumstances change.
Key performance indicators
The Groups key financial and other performance indicators during the year were as follows:
Unit
2023
2022
Turnover
£
13,304,294
11,184,503
Gross profit margin
%
32.65
24.91
EBITDA
£
1,674,663
491,143
Profit/(loss) before taxation
£
1,049,761
(71,476)
ANGLIAN WASTE RECYCLING GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
Mr L M Storer
Director
5 August 2024
ANGLIAN WASTE RECYCLING GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
The directors present their annual report and financial statements for the year ended 30 November 2023.
Principal activities
The principal activity of the group is demolition services supported by earthworks, scaffolding and asbestos removal.
Results and dividends
The results for the year are set out on page 8.
Ordinary dividends were paid amounting to £60,000. 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 L M Storer
Mr R Eastaff
Mrs T A Storer
Mr M Clayton
Mr M Garner
Mr A Rackham
Auditor
Mapus - Smith & Lemmon LLP were appointed as auditor to the group and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.
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.
Medium-sized companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
On behalf of the board
Mr L M Storer
Director
ANGLIAN WASTE RECYCLING GROUP LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
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:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the ;
prepare the on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.
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.
ANGLIAN WASTE RECYCLING GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ANGLIAN WASTE RECYCLING GROUP LIMITED
- 5 -
Opinion
We have audited the financial statements of Anglian Waste Recycling Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2023 which comprise the group profit and loss account, 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 notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the group's and the parent company's affairs as at 30 November 2023 and of the group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
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 and 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.
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:
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.
ANGLIAN WASTE RECYCLING GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ANGLIAN WASTE RECYCLING GROUP LIMITED
- 6 -
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:
adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the 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 financial statements.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any, material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
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.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, and employment legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
ANGLIAN WASTE RECYCLING GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ANGLIAN WASTE RECYCLING GROUP LIMITED
- 7 -
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journals to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged with governance; and
enquiring of management as to actual and potential litigation and claims.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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.
Craig Symonds (Senior Statutory Auditor)
For and on behalf of Mapus-Smith & Lemmon LLP
6 August 2024
Chartered Accountants
Statutory Auditor
23 London Road
Downham Market
Norfolk
PE38 9BJ
ANGLIAN WASTE RECYCLING GROUP LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 8 -
2023
2022
Notes
£
£
Turnover
3
13,304,294
11,184,503
Cost of sales
(8,960,393)
(8,398,177)
Gross profit
4,343,901
2,786,326
Distribution costs
(737,297)
(826,566)
Administrative expenses
(2,344,914)
(1,927,638)
Other operating income
43,920
84,650
Operating profit
4
1,305,610
116,772
Interest receivable and similar income
7
489
1
Interest payable and similar expenses
8
(256,338)
(188,249)
Profit/(loss) before taxation
1,049,761
(71,476)
Tax on profit/(loss)
9
(405,851)
7,951
Profit/(loss) for the financial year
643,910
(63,525)
Profit/(loss) for the financial year is all attributable to the owners of the parent company.
ANGLIAN WASTE RECYCLING GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 9 -
2023
2022
£
£
Profit/(loss) for the year
643,910
(63,525)
Other comprehensive income
-
-
Total comprehensive income for the year
643,910
(63,525)
Total comprehensive income for the year is all attributable to the owners of the parent company.
ANGLIAN WASTE RECYCLING GROUP LIMITED
GROUP BALANCE SHEET
AS AT 30 NOVEMBER 2023
30 November 2023
- 10 -
2023
2022
Notes
£
£
£
£
Fixed assets
Goodwill
11
528,773
608,089
Tangible assets
12
6,779,929
6,544,536
7,308,702
7,152,625
Current assets
Stocks
15
29,282
93,209
Debtors
16
2,562,516
1,808,623
Cash at bank and in hand
73,711
21,216
2,665,509
1,923,048
Creditors: amounts falling due within one year
17
(4,329,463)
(4,043,913)
Net current liabilities
(1,663,954)
(2,120,865)
Total assets less current liabilities
5,644,748
5,031,760
Creditors: amounts falling due after more than one year
18
(2,130,729)
(2,498,574)
Provisions for liabilities
Deferred tax liability
21
858,516
461,593
(858,516)
(461,593)
Net assets
2,655,503
2,071,593
Capital and reserves
Called up share capital
23
10,311
10,311
Share premium account
1,001,977
1,001,977
Revaluation reserve
16,873
16,873
Profit and loss reserves
1,626,342
1,042,432
Total equity
2,655,503
2,071,593
These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.
The financial statements were approved by the board of directors and authorised for issue on 5 August 2024 and are signed on its behalf by:
05 August 2024
Mr L M Storer
Director
Company registration number 12280059 (England and Wales)
ANGLIAN WASTE RECYCLING GROUP LIMITED
COMPANY BALANCE SHEET
AS AT 30 NOVEMBER 2023
30 November 2023
- 11 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
13
920,208
920,208
Current assets
Debtors
16
325,172
316,313
Cash at bank and in hand
4,229
8,827
329,401
325,140
Creditors: amounts falling due within one year
17
(13,928)
(2,000)
Net current assets
315,473
323,140
Total assets less current liabilities
1,235,681
1,243,348
Creditors: amounts falling due after more than one year
18
(200,000)
(204,289)
Net assets
1,035,681
1,039,059
Capital and reserves
Called up share capital
23
10,311
10,311
Share premium account
1,001,977
1,001,977
Profit and loss reserves
23,393
26,771
Total equity
1,035,681
1,039,059
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 £56,621 (2022 - £73,614 profit).
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
The financial statements were approved by the board of directors and authorised for issue on 5 August 2024 and are signed on its behalf by:
05 August 2024
Mr L M Storer
Director
Company registration number 12280059 (England and Wales)
ANGLIAN WASTE RECYCLING GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 12 -
Share capital
Share premium account
Revaluation reserve
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
£
Balance at 1 December 2021
10,000
911,086
16,873
1,165,957
2,103,916
-
2,103,916
Year ended 30 November 2022:
Loss and total comprehensive income
-
-
-
(63,525)
(63,525)
-
(63,525)
Issue of share capital
23
311
90,891
-
-
91,202
-
91,202
Dividends
10
-
-
-
(60,000)
(60,000)
-
(60,000)
Balance at 30 November 2022
10,311
1,001,977
16,873
1,042,432
2,071,593
2,071,593
Year ended 30 November 2023:
Profit and total comprehensive income
-
-
-
643,910
643,910
-
643,910
Dividends
10
-
-
-
(60,000)
(60,000)
-
(60,000)
Balance at 30 November 2023
10,311
1,001,977
16,873
1,626,342
2,655,503
2,655,503
ANGLIAN WASTE RECYCLING GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 13 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 December 2021
10,000
911,086
13,157
934,243
Year ended 30 November 2022:
Profit and total comprehensive income for the year
-
-
73,614
73,614
Issue of share capital
23
311
90,891
-
91,202
Dividends
10
-
-
(60,000)
(60,000)
Balance at 30 November 2022
10,311
1,001,977
26,771
1,039,059
Year ended 30 November 2023:
Profit and total comprehensive income
-
-
56,622
56,622
Dividends
10
-
-
(60,000)
(60,000)
Balance at 30 November 2023
10,311
1,001,977
23,393
1,035,681
ANGLIAN WASTE RECYCLING GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 14 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
953,261
470,619
Interest paid
(256,338)
(188,249)
Net cash inflow from operating activities
696,923
282,370
Investing activities
Purchase of tangible fixed assets
(272,965)
(471,791)
Proceeds from disposal of tangible fixed assets
602,140
68,758
Interest received
489
1
Net cash generated from/(used in) investing activities
329,664
(403,032)
Financing activities
Proceeds from issue of shares
-
91,202
Proceeds from borrowings
-
694,555
Proceeds from new bank loans
337,400
600,000
Repayment of bank loans
(353,786)
(93,902)
Payment of finance leases obligations
(846,881)
(794,228)
Dividends paid to equity shareholders
(60,000)
(60,000)
Net cash (used in)/generated from financing activities
(923,267)
437,627
Net increase in cash and cash equivalents
103,320
316,965
Cash and cash equivalents at beginning of year
(461,612)
(778,577)
Cash and cash equivalents at end of year
(358,292)
(461,612)
Relating to:
Cash at bank and in hand
73,711
21,216
Bank overdrafts included in creditors payable within one year
(432,003)
(482,828)
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 15 -
1
Accounting policies
Company information
Anglian Waste Recycling Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Anglian Business Centre, West Carr Road, Attleborough, NR17 1AN.
The group consists of Anglian Waste Recycling Group 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
Business combinations
In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.
Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.
1.3
Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company Anglian Waste Recycling Group 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 30 November 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.
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 16 -
Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.
Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.
If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.
Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.
1.4
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.
1.5
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.
Revenue 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.
1.6
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its useful life.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. Goodwill is therefore amortised over 10 years on a straight line basis.
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.
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 17 -
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 buildings
2% straight line basis
Plant and machinery
10% reducing balance basis
Office equipment
20% reducing balance basis
Motor vehicles
20% reducing balance basis
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.
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.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.
Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.
In the parent company financial statements, investments in associates are accounted for at cost less impairment.
Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.9
Impairment of fixed assets
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 18 -
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.10
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.
1.11
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.
1.12
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 19 -
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
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.14
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.15
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
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 periods.
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 20 -
3
Turnover and other revenue
2023
2022
£
£
Turnover analysed by class of business
Rendering of services
13,304,294
11,184,503
2023
2022
£
£
Other revenue
Interest income
489
1
Grants received
-
617
Government grants received in the year are in relation to the Job Retention Scheme whilst employees were placed on furlough.
4
Operating profit
2023
2022
£
£
Operating profit for the year is stated after charging/(crediting):
Government grants
-
(617)
Depreciation of owned tangible fixed assets
289,737
295,055
(Profit)/loss on disposal of tangible fixed assets
(11,462)
1,508
Amortisation of intangible assets
79,316
79,316
5
Directors' remuneration
2023
2022
£
£
Remuneration for qualifying services
138,482
130,200
Company pension contributions to defined contribution schemes
65,000
65,000
203,482
195,200
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 21 -
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
Directors
4
4
4
4
Production
89
92
-
-
Administration and support
8
8
-
-
Total
101
104
4
4
Their aggregate remuneration comprised:
Group
Company
2023
2022
2023
2022
£
£
£
£
Wages and salaries
3,649,688
3,685,977
138,482
130,200
Social security costs
374,428
400,825
13,869
13,350
Pension costs
126,647
132,075
65,000
65,000
4,150,763
4,218,877
217,351
208,550
7
Interest receivable and similar income
2023
2022
£
£
Interest income
Interest on bank deposits
489
1
2023
2022
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
489
1
8
Interest payable and similar expenses
2023
2022
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
105,094
51,235
Other finance costs:
Interest on finance leases and hire purchase contracts
151,244
137,014
Total finance costs
256,338
188,249
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 22 -
9
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
8,928
Deferred tax
Origination and reversal of timing differences
396,923
(7,951)
Total tax charge/(credit)
405,851
(7,951)
The actual charge/(credit) for the year can be reconciled to the expected charge/(credit) for the year based on the profit or loss and the standard rate of tax as follows:
2023
2022
£
£
Profit/(loss) before taxation
1,049,761
(71,476)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 25.00% (2022: 19.00%)
267,308
(13,580)
Tax effect of expenses that are not deductible in determining taxable profit
1,743
1,050
Tax effect of income not taxable in determining taxable profit
(15,966)
Other short term timing differences
124,205
Change in unrecognised deferred tax assets
-
1,672
Permanent capital allowances in excess of depreciation
(12,625)
(3,607)
Depreciation on assets not qualifying for tax allowances
10,150
7,410
Amortisation on assets not qualifying for tax allowances
15,070
15,070
Taxation charge/(credit)
405,851
(7,951)
10
Dividends
2023
2022
Recognised as distributions to equity holders:
£
£
Final paid
60,000
60,000
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 23 -
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
793,160
Amortisation and impairment
At 1 December 2022
185,071
Amortisation charged for the year
79,316
At 30 November 2023
264,387
Carrying amount
At 30 November 2023
528,773
At 30 November 2022
608,089
The company had no intangible fixed assets at 30 November 2023 or 30 November 2022.
12
Tangible fixed assets
Group
Freehold buildings
Plant and machinery
Office equipment
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 December 2022
1,950,000
5,440,518
78,560
628,276
8,097,354
Additions
57,082
801,703
16,963
240,060
1,115,808
Disposals
(593,100)
(186,278)
(779,378)
At 30 November 2023
2,007,082
5,649,121
95,523
682,058
8,433,784
Depreciation and impairment
At 1 December 2022
39,000
1,110,384
59,936
343,498
1,552,818
Depreciation charged in the year
39,131
207,600
5,793
37,213
289,737
Eliminated in respect of disposals
(77,161)
(111,539)
(188,700)
At 30 November 2023
78,131
1,240,823
65,729
269,172
1,653,855
Carrying amount
At 30 November 2023
1,928,951
4,408,298
29,794
412,886
6,779,929
At 30 November 2022
1,911,000
4,330,133
18,623
284,780
6,544,536
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
12
Tangible fixed assets
(Continued)
- 24 -
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
Group
Company
2023
2022
2023
2022
£
£
£
£
Plant and machinery
2,754,627
2,703,046
Motor vehicles
262,126
70,781
3,016,753
2,773,827
-
-
Included within the net book value of land and buildings above is £1,928,951 (2022 - £1,928,951) in respect of freehold land and buildings.
Revaluation
The fair value of the group's land and buildings was revalued on the 17th November 2021 by an independent valuer. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £806,800 (2022 - £767,594).
13
Fixed asset investments
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Investments in subsidiaries
14
920,208
920,208
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 December 2022 and 30 November 2023
920,208
Carrying amount
At 30 November 2023
920,208
At 30 November 2022
920,208
14
Subsidiaries
Details of the company's subsidiaries at 30 November 2023 are as follows:
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
14
Subsidiaries
(Continued)
- 25 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Anglian Demolition & Asbestos Limited
Anglian Business Centre, West Carr Road, Attleborough NR17 1AN England & Wales
Ordinary
100.00
Anglian Plant & Recycling Limited
Anglian Business Centre West Carr Road Attleborough NR17 1AN England & Wales
Ordinary
100.00
Anglian Demolition & Asbestos Limited
The principal activity of Anglian Demolition & Asbestos Limited is demolition services supported by earthworks,scaffolding, asbestos removal and waste recycling.
Anglian Plant & Recycling Limited
The principal activity of Anglian Plant & Recycling Limited is hire of plant.
15
Stocks
Group
Company
2023
2022
2023
2022
£
£
£
£
Raw materials and consumables
29,282
93,209
-
-
16
Debtors
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Trade debtors
2,256,660
1,169,527
Amounts owed by group undertakings
-
-
321,961
316,313
Other debtors
200,469
85,285
3,211
Prepayments and accrued income
105,387
553,811
2,562,516
1,808,623
325,172
316,313
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 26 -
17
Creditors: amounts falling due within one year
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans and overdrafts
19
550,853
598,378
Obligations under finance leases
20
878,214
627,634
Other borrowings
19
89,251
Trade creditors
1,308,314
1,531,218
Corporation tax payable
8,928
8,928
Other taxation and social security
400,731
508,210
-
-
Other creditors
1,054,394
742,068
Accruals and deferred income
38,778
36,405
5,000
2,000
4,329,463
4,043,913
13,928
2,000
18
Creditors: amounts falling due after more than one year
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans and overdrafts
19
848,028
956,966
Obligations under finance leases
20
1,082,701
1,337,319
Other creditors
200,000
204,289
200,000
204,289
2,130,729
2,498,574
200,000
204,289
Borrowings due after five years relate to bank borrowings and HP Finance lease liabilities. The amounts are repayable by instalments and have varied interest rates applicable to each arrangement.
Amounts included above which fall due after five years are as follows:
Payable by instalments
-
434,047
-
-
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 27 -
19
Loans and overdrafts
Group
Company
2023
2022
2023
2022
£
£
£
£
Bank loans
966,878
1,072,516
Bank overdrafts
432,003
482,828
Other loans
89,251
1,488,132
1,555,344
-
-
Payable within one year
640,104
598,378
Payable after one year
848,028
956,966
The bank loans and overdrafts are secured by fixing and floating charges over the property and assets. Interest is charged at rates between 0.33% and 0.50%.
20
Finance lease obligations
Group
Company
2023
2022
2023
2022
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
878,214
627,634
In two to five years
1,082,701
1,337,319
1,960,915
1,964,953
-
-
The finance leases are secured by the lessors' title to the leased assets which have a carrying value of £3,016,753 (2022: £2,773,827). The directors consider that the carrying amount of the obligations under finance leases approximate to their fair value.
21
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
1,202,331
791,911
Tax losses
(535,895)
(493,777)
Revaluations
192,080
163,459
858,516
461,593
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
21
Deferred taxation
(Continued)
- 28 -
Group
Company
2023
2023
Movements in the year:
£
£
Liability at 1 December 2022
461,593
-
Charge to profit or loss
396,923
-
Liability at 30 November 2023
858,516
-
22
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
126,647
132,075
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.
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 29 -
23
Share capital
Group and company
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
5,622
5,622
5,622
5,622
Ordinary B of £1 each
878
878
878
878
Ordinary C of £1 each
1,000
1,000
1,000
1,000
Ordinary D of £1 each
2,811
2,811
2,811
2,811
10,311
10,311
10,311
10,311
24
Operating lease commitments
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
32,750
45,832
-
-
Between two and five years
91,000
123,750
-
-
123,750
169,582
-
-
25
Related party transactions
At 30 November 2023, the Group had sales of £Nil and incurred purchases of £97,222 from LS Equipment Leasing Limited, an associated company. At the year end the Group owed £7,281 (was owed 2022: 11,230).
Transactions with Group companies have not been disclosed in accordance with the exemptions available in FRS 102.
ANGLIAN WASTE RECYCLING GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 30 -
26
Cash generated from group operations
2023
2022
£
£
Profit/(loss) for the year after tax
643,910
(63,525)
Adjustments for:
Taxation charged/(credited)
405,851
(7,951)
Finance costs
256,338
188,249
Investment income
(489)
(1)
(Gain)/loss on disposal of tangible fixed assets
(11,462)
1,508
Amortisation and impairment of intangible assets
79,316
79,316
Depreciation and impairment of tangible fixed assets
289,737
295,055
Movements in working capital:
Decrease/(increase) in stocks
63,927
(35,317)
Increase in debtors
(753,894)
(392,366)
(Decrease)/increase in creditors
(19,973)
405,651
Cash generated from operations
953,261
470,619
27
Analysis of changes in net debt - group
1 December 2022
Cash flows
New finance leases
30 November 2023
£
£
£
£
Cash at bank and in hand
21,216
52,495
-
73,711
Bank overdrafts
(482,828)
50,825
-
(432,003)
(461,612)
103,320
-
(358,292)
Borrowings excluding overdrafts
(1,072,516)
16,387
-
(1,056,129)
Obligations under finance leases
(1,964,953)
846,881
(842,843)
(1,960,915)
(3,499,081)
966,588
(842,843)
(3,375,336)
2023-11-302022-12-01falseCCH SoftwareCCH Accounts Production 2024.100Mr L M StorerMr R EastaffMrs T A StorerMr M ClaytonMr M GarnerMr A 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