IRIS Accounts Production v24.2.0.383 08840820 Board of Directors 31.1.24 1.2.23 31.1.24 31.1.24 a holding company. true true false true true false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh088408202023-01-31088408202024-01-31088408202023-02-012024-01-31088408202022-01-31088408202022-02-012023-01-31088408202023-01-3108840820ns15:EnglandWales2023-02-012024-01-3108840820ns14:PoundSterling2023-02-012024-01-3108840820ns10:Director12023-02-012024-01-3108840820ns10:Consolidated2024-01-3108840820ns10:ConsolidatedGroupCompanyAccounts2023-02-012024-01-3108840820ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3108840820ns10:Consolidatedns10:FRS1022023-02-012024-01-3108840820ns10:Consolidatedns10:Audited2023-02-012024-01-3108840820ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3108840820ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-02-012024-01-3108840820ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Consolidated2023-02-012024-01-3108840820ns10:FullAccounts2023-02-012024-01-310884082012023-02-012024-01-3108840820ns10:OrdinaryShareClass12023-02-012024-01-3108840820ns10:Consolidated2023-02-012024-01-3108840820ns10:Director22023-02-012024-01-3108840820ns10:Director32023-02-012024-01-3108840820ns10:RegisteredOffice2023-02-012024-01-3108840820ns10:Consolidated2022-02-012023-01-3108840820ns5:CurrentFinancialInstruments2024-01-3108840820ns5:CurrentFinancialInstruments2023-01-3108840820ns5:ShareCapital2024-01-3108840820ns5:ShareCapital2023-01-3108840820ns5:ShareCapital2022-01-3108840820ns5:RetainedEarningsAccumulatedLosses2022-01-3108840820ns5:RetainedEarningsAccumulatedLosses2022-02-012023-01-3108840820ns5:RetainedEarningsAccumulatedLosses2023-01-3108840820ns5:RetainedEarningsAccumulatedLosses2023-02-012024-01-3108840820ns5:RetainedEarningsAccumulatedLosses2024-01-3108840820ns5:NetGoodwill2023-02-012024-01-3108840820ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3108840820ns5:PatentsTrademarksLicencesConcessionsSimilar2023-02-012024-01-3108840820ns5:LeaseholdImprovements2023-02-012024-01-3108840820ns5:FurnitureFittings2023-02-012024-01-3108840820ns5:MotorVehicles2023-02-012024-01-3108840820ns5:ComputerEquipment2023-02-012024-01-3108840820ns5:CostValuation2023-01-3108840820ns10:OrdinaryShareClass12024-01-31
REGISTERED NUMBER: 08840820 (England and Wales)












Luke Roper Holdings Limited

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 January 2024






Luke Roper Holdings Limited (Registered number: 08840820)






Contents of the Consolidated Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 19


Luke Roper Holdings Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: S J Poole
Mrs D Poole
L J Roper





REGISTERED OFFICE: Furze Grounds Farm
Marsh Gibbon Road
Marsh Gibbon
Bicester
Oxfordshire
OX27 0AQ





REGISTERED NUMBER: 08840820 (England and Wales)





AUDITORS: Kilby Fox
Statutory Auditor
4 Pavilion Court
600 Pavilion Drive
Northampton Business Park
Northampton
Northamptonshire
NN4 7SL

Luke Roper Holdings Limited (Registered number: 08840820)

Group Strategic Report
for the Year Ended 31 January 2024

The directors present their strategic report of the company and the group for the year ended 31 January 2024.

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS
The cost of living crisis and high interest rate continues to have an impact. While Group revenue decreased by 5.5% to £16.2m net profits remained at £1m.

Overhead costs have remained inline with previous year , however margins have improved by 2.8%. This is due to improvements implemented in the previous year, relating to sourcing and stock deliveries.

Inflation has fallen over the last two years to single digits but potential conflict in the Middle East remains a threat to inflation and supply chain. Although the risk of recession has receded, it remains a threat for now due to macro-economic factors.

We expect the current economic climate and it's impact on fashion to continue over the next 2-3 years. The fashion industry is also experiencing challenges relating to climate control, ranging from reduction of carbon foot print to use of recyclable materials.

The Board continues to be proactive, negotiating prices with the current supplier base and looking for cheaper alternatives without compromising quality. Similarly, the Board is also exploring the use of sustainable fabric, use of recyclable packaging and "close to home suppliers".

The Group will continue to monitor the market closely, seek growth opportunities in new product categories, new customer accounts and new geographical markets. The Board is of the opinion that the Group is well placed to cope with the uncertainties and current market conditions.

The Board continues to look for suitable retail opportunities and E-Commerce growth as part of a 3 year plan.

PRINCIPAL RISKS AND UNCERTAINTIES
The UK fashion market remains sensitive to consumer confidence, job security and the housing market. Consumer spending seems to have been affected by recent economic uncertainties and is expected to continue into the next 2-3 years, which is likely to impact on both the volume of sales and the price achieved. However, the market is closely monitored by the Board.

The group is exposed to fluctuations in foreign exchange on purchases. The group aims to minimise the impact using foreign currency instruments such as forward currency contracts.

The group continues to mitigate its exposure to credit risk by insuring a majority of the business. The remaining exposure is managed by close monitoring of customers and market conditions by the Credit Control Department.

The main financial instruments held by the group are trade debtors, trade creditors, cash and foreign currency contracts.

The Group maintains and regularly reviews internal controls to minimise the risk of fraud.

KEY PERFORMANCE INDICATORS
Throughout the year, regular review of the group's key performance indicators (KPI) are performed by management. These KPIs are monitored monthly and compared with performance expected within the budget and prior year achievements.

The key KPI's for the business include sales growth, gross margin and profit before tax.

During the year group revenue reduced from £17.2m to £16.2m however profit before tax remained at £1m.


Luke Roper Holdings Limited (Registered number: 08840820)

Group Strategic Report
for the Year Ended 31 January 2024

EMPLOYEES
The Group aims to recruit excellent candidates and has an active retention policy including appropriate training, annual appraisals, advancement opportunities and exit interviews. Employees are also kept informed through regular meetings and encouraged to contribute.

The Group is committed to the principle of equality and diversity in all areas of recruitment, employment, training and promotion.

ON BEHALF OF THE BOARD:





S J Poole - Director


13 August 2024

Luke Roper Holdings Limited (Registered number: 08840820)

Report of the Directors
for the Year Ended 31 January 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 January 2024.

DIVIDENDS
Interim dividends per share were paid as follows:
1250 - 31 October 2023
600 - 31 January 2024
1850

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 January 2024 will be £ 555,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

S J Poole
Mrs D Poole
L J Roper

POLITICAL DONATIONS AND EXPENDITURE
Charitable donations made in the year total £4,823.

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

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

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

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

Luke Roper Holdings Limited (Registered number: 08840820)

Report of the Directors
for the Year Ended 31 January 2024


AUDITORS
The auditors, Kilby Fox, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S J Poole - Director


13 August 2024

Report of the Independent Auditors to the Members of
Luke Roper Holdings Limited

Opinion
We have audited the financial statements of Luke Roper Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 January 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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

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

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

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

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

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

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

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

Report of the Independent Auditors to the Members of
Luke Roper Holdings Limited


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

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

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

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

Report of the Independent Auditors to the Members of
Luke Roper Holdings Limited


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

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

Identifying and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

Audit response to risks identified

- the nature of the industry and sector, control environment and business performance including the design of the Company's remuneration policies, key drivers for directors’ remuneration, bonus levels and performance targets;

- results of our enquiries of management about their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team and involving relevant internal specialists, including tax specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation.

Audit response to risks identified

As a result of performing the above, we identified revenue recognition as a key audit matter related to the potential risk of fraud.

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- enquiring of management concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

Report of the Independent Auditors to the Members of
Luke Roper Holdings Limited


- reading minutes of meetings of those charged with governance

- obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

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

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




Martin Crooke FCCA (Senior Statutory Auditor)
for and on behalf of Kilby Fox
Statutory Auditor
4 Pavilion Court
600 Pavilion Drive
Northampton Business Park
Northampton
Northamptonshire
NN4 7SL

19 August 2024

Luke Roper Holdings Limited (Registered number: 08840820)

Consolidated
Income Statement
for the Year Ended 31 January 2024

2024 2023
Notes £    £   

TURNOVER 16,240,707 17,186,025

Cost of sales 8,251,522 9,217,401
GROSS PROFIT 7,989,185 7,968,624

Administrative expenses 6,943,202 6,934,768
1,045,983 1,033,856

Other operating income - 606
OPERATING PROFIT 4 1,045,983 1,034,462

Interest receivable and similar income 4,851 -
1,050,834 1,034,462

Interest payable and similar expenses 5 6,514 13,846
PROFIT BEFORE TAXATION 1,044,320 1,020,616

Tax on profit 6 318,706 232,304
PROFIT FOR THE FINANCIAL YEAR 725,614 788,312
Profit attributable to:
Owners of the parent 725,614 788,312

Luke Roper Holdings Limited (Registered number: 08840820)

Consolidated
Other Comprehensive Income
for the Year Ended 31 January 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 725,614 788,312


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

725,614

788,312

Total comprehensive income attributable to:
Owners of the parent 725,614 788,312

Luke Roper Holdings Limited (Registered number: 08840820)

Consolidated Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 291,382 330,537
Investments 11 405,681 424,000
697,063 754,537

CURRENT ASSETS
Stocks 12 2,574,635 4,431,029
Debtors 13 1,686,607 1,678,159
Cash at bank and in hand 3,951,393 2,768,923
8,212,635 8,878,111
CREDITORS
Amounts falling due within one year 14 3,208,763 3,395,063
NET CURRENT ASSETS 5,003,872 5,483,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,700,935

6,237,585

CREDITORS
Amounts falling due after more than one year 15 (60,386 ) (770,315 )

PROVISIONS FOR LIABILITIES 18 (53,752 ) (51,087 )
NET ASSETS 5,586,797 5,416,183

CAPITAL AND RESERVES
Called up share capital 19 300 300
Retained earnings 20 5,586,497 5,415,883
SHAREHOLDERS' FUNDS 5,586,797 5,416,183

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





S J Poole - Director


Luke Roper Holdings Limited (Registered number: 08840820)

Company Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 300 300
300 300

CURRENT ASSETS
Cash at bank and in hand 1,382 882

CREDITORS
Amounts falling due within one year 14 1,382 882
NET CURRENT LIABILITIES - -
TOTAL ASSETS LESS CURRENT
LIABILITIES

300

300

CAPITAL AND RESERVES
Called up share capital 19 300 300
SHAREHOLDERS' FUNDS 300 300

Company's profit for the financial year 555,000 555,000

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





S J Poole - Director


Luke Roper Holdings Limited (Registered number: 08840820)

Consolidated Statement of Changes in Equity
for the Year Ended 31 January 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 February 2022 300 5,182,571 5,182,871

Changes in equity
Dividends - (555,000 ) (555,000 )
Total comprehensive income - 788,312 788,312
Balance at 31 January 2023 300 5,415,883 5,416,183

Changes in equity
Dividends - (555,000 ) (555,000 )
Total comprehensive income - 725,614 725,614
Balance at 31 January 2024 300 5,586,497 5,586,797

Luke Roper Holdings Limited (Registered number: 08840820)

Company Statement of Changes in Equity
for the Year Ended 31 January 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 February 2022 300 - 300

Changes in equity
Dividends - (555,000 ) (555,000 )
Total comprehensive income - 555,000 555,000
Balance at 31 January 2023 300 - 300

Changes in equity
Dividends - (555,000 ) (555,000 )
Total comprehensive income - 555,000 555,000
Balance at 31 January 2024 300 - 300

Luke Roper Holdings Limited (Registered number: 08840820)

Consolidated Cash Flow Statement
for the Year Ended 31 January 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,929,767 (2,316,603 )
Interest paid (6,514 ) (13,846 )
Tax paid (361,027 ) (297,000 )
Taxation refund - 148,551
Net cash from operating activities 2,562,226 (2,478,898 )

Cash flows from investing activities
Purchase of tangible fixed assets (117,260 ) (237,706 )
Sale of tangible fixed assets - (4,988 )
Interest received 4,851 -
Net cash from investing activities (112,409 ) (242,694 )

Cash flows from financing activities
Loan repayments in year (677,274 ) (100,000 )
Capital repayments in year (9,929 ) 77,683
Amount introduced by directors - 555,000
Amount withdrawn by directors (25,144 ) (579,116 )
Equity dividends paid (555,000 ) (555,000 )
Net cash from financing activities (1,267,347 ) (601,433 )

Increase/(decrease) in cash and cash equivalents 1,182,470 (3,323,025 )
Cash and cash equivalents at beginning of
year

2

2,768,923

6,091,948

Cash and cash equivalents at end of year 2 3,951,393 2,768,923

Luke Roper Holdings Limited (Registered number: 08840820)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 January 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 1,044,320 1,020,616
Depreciation charges 156,024 183,883
Loss on disposal of fixed assets - 31,496
Loss on revaluation of fixed assets 18,319 76,000
HP interest - 2,653
Finance costs 6,514 13,846
Finance income (4,851 ) -
1,220,326 1,328,494
Decrease/(increase) in stocks 1,856,394 (2,677,669 )
(Increase)/decrease in trade and other debtors (8,448 ) 111,770
Decrease in trade and other creditors (138,505 ) (1,079,198 )
Cash generated from operations 2,929,767 (2,316,603 )

2. CASH AND CASH EQUIVALENTS

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

Year ended 31 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 3,951,393 2,768,923
Year ended 31 January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 2,768,923 6,091,948


Luke Roper Holdings Limited (Registered number: 08840820)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 January 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank and in hand 2,768,923 1,182,470 3,951,393
2,768,923 1,182,470 3,951,393
Debt
Finance leases (80,336 ) 9,929 (70,407 )
Debts falling due within 1 year (200,000 ) (22,726 ) (222,726 )
Debts falling due after 1 year (700,000 ) 700,000 -
(980,336 ) 687,203 (293,133 )
Total 1,788,587 1,869,673 3,658,260

Luke Roper Holdings Limited (Registered number: 08840820)

Notes to the Consolidated Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Luke Roper Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

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

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

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvements - 50% on cost, 20% on cost and over the period of the lease
Fixtures and fittings - 33.3% on cost, 20% on cost, straight line over 6 years and at varying rates on cost
Motor vehicles - 33.3% on cost
Office equipment - 50% on cost, 33.3% on cost and 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


Luke Roper Holdings Limited (Registered number: 08840820)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,517,733 2,251,461
Social security costs 192,386 159,944
Other pension costs 49,593 42,759
2,759,712 2,454,164

The average number of employees during the year was as follows:
2024 2023

Administration 13 13
Production 23 22
Sales 103 109
139 144

2024 2023
£    £   
Directors' remuneration 28,665 27,180

Luke Roper Holdings Limited (Registered number: 08840820)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 January 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Operating leases 1,490,107 1,468,021
Depreciation - owned assets 156,415 185,631
Loss on disposal of fixed assets - 31,496
Patents and licences amortisation - 1,309
Auditors remuneration 16,000 15,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Exchange rate movement 6,514 13,846

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 316,041 223,506

Deferred tax 2,665 8,798
Tax on profit 318,706 232,304

7. INDIVIDUAL INCOME STATEMENT

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


8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 555,000 555,000

Luke Roper Holdings Limited (Registered number: 08840820)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 January 2024

9. INTANGIBLE FIXED ASSETS

Group
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 445,000 13,280 458,280
AMORTISATION
At 1 February 2023
and 31 January 2024 445,000 13,280 458,280
NET BOOK VALUE
At 31 January 2024 - - -
At 31 January 2023 - - -

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Long Property and
leasehold improvements fittings
£    £    £   
COST
At 1 February 2023 23,470 131,246 792,014
Additions - - 76,837
At 31 January 2024 23,470 131,246 868,851
DEPRECIATION
At 1 February 2023 23,470 118,536 623,681
Charge for year - - 91,664
At 31 January 2024 23,470 118,536 715,345
NET BOOK VALUE
At 31 January 2024 - 12,710 153,506
At 31 January 2023 - 12,710 168,333

Luke Roper Holdings Limited (Registered number: 08840820)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 January 2024

10. TANGIBLE FIXED ASSETS - continued

Group

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 236,001 181,127 1,363,858
Additions 21,183 19,240 117,260
At 31 January 2024 257,184 200,367 1,481,118
DEPRECIATION
At 1 February 2023 127,400 140,234 1,033,321
Charge for year 53,347 11,404 156,415
At 31 January 2024 180,747 151,638 1,189,736
NET BOOK VALUE
At 31 January 2024 76,437 48,729 291,382
At 31 January 2023 108,601 40,893 330,537

11. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST OR VALUATION
At 1 February 2023 424,000
Impairments (18,319 )
At 31 January 2024 405,681
NET BOOK VALUE
At 31 January 2024 405,681
At 31 January 2023 424,000

Cost or valuation at 31 January 2024 is represented by:

Unlisted
investments
£   
Valuation in 2023 (76,000 )
Valuation in 2024 (18,319 )
Cost 500,000
405,681

Luke Roper Holdings Limited (Registered number: 08840820)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 January 2024

11. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 300
NET BOOK VALUE
At 31 January 2024 300
At 31 January 2023 300

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

Subsidiary

Luke Roper Limited
Registered office:
Nature of business: Retail of clothing
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 5,368,316 5,164,382
Profit for the year 758,934 825,358


12. STOCKS

Group
2024 2023
£    £   
Stocks 2,191,163 3,652,251
Work-in-progress 383,472 778,778
2,574,635 4,431,029

Luke Roper Holdings Limited (Registered number: 08840820)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 January 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade debtors 1,219,472 1,105,056
Other debtors 404,809 433,828
Sundry debtors and prepayments 62,326 139,275
1,686,607 1,678,159

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 16) 222,726 200,000 - -
Hire purchase contracts (see note 17) 10,021 10,021 - -
Trade creditors 1,221,242 1,423,059 - -
Amounts owed to group undertakings - - 1,382 882
Corporation tax 123,870 168,856 - -
Social security and other taxes 82,848 53,562 - -
Wages control account (9,655 ) (10,000 ) - -
VAT 300,938 287,311 - -
Other creditors 60,497 14,957 - -
Sundry creditors and accruals 1,192,758 1,218,635 - -
Directors' loan accounts 3,518 28,662 - -
3,208,763 3,395,063 1,382 882

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

Group
2024 2023
£    £   
Bank loans (see note 16) - 700,000
Hire purchase contracts (see note 17) 60,386 70,315
60,386 770,315

Luke Roper Holdings Limited (Registered number: 08840820)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 January 2024

16. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 222,726 200,000
Amounts falling due between one and two years:
Bank loans - 1-2 years - 200,000
Amounts falling due between two and five years:
Bank loans - 2-5 years - 500,000

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 10,021 10,021
Between one and five years 60,386 70,315
70,407 80,336

18. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 53,752 51,087

Group
Deferred
tax
£   
Balance at 1 February 2023 51,087
Movement in year 2,665
Balance at 31 January 2024 53,752

Luke Roper Holdings Limited (Registered number: 08840820)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 January 2024

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary £1 300 300

20. RESERVES

Group
Retained
earnings
£   

At 1 February 2023 5,415,883
Profit for the year 725,614
Dividends (555,000 )
At 31 January 2024 5,586,497


21. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 16,858 16,858

22. ULTIMATE CONTROLLING PARTY

There is no one ultimate controlling party.