Company registration number 04475764 (England and Wales)
N J S GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
N J S GROUP LIMITED
COMPANY INFORMATION
Directors
Mr M E Hobbs
Mr N J Shopland
Mr J G Gray
Mr D F Gray
Mr J Shopland
Mrs K Shopland
Secretary
Mr M E Hobbs
Company number
04475764
Registered office
Drayton House
Drayton Lane
Chichester
West Sussex
England
PO20 2EW
Auditor
James Todd & Co Limited
Drayton House
Drayton Lane
Chichester
West Sussex
England
PO20 2EW
N J S GROUP LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 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
Company statement of cash flows
15
Notes to the financial statements
16 - 32
N J S GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -

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

Review of the business

The group continued with its principle activities which were contracting to the construction industry. The company N J S Group Limited did not trade in the current or previous year, and its purpose is that of a holding company for the group.

 

Total operating profit for the year was £188,759 (2022: loss of £261,033). The loss before taxation was £23,488 (2022: £253,819). After making provision for taxation, the loss for the financial year was £132,249 (2022: £245,219).

 

The Directors are satisfied with the overall level of profitability.

Principal risks and uncertainties

The principal risks and uncertainties facing the group are set out below:-

 

Corporate responsibility

The group's health and safety, and environment performance contributes to the group's reputation. Any incident that causes harm has potential to damage the reputation, making it harder to win future work. The group operates established and robust safety systems, which includes site visits, regular monitoring and reporting, and recording improvement opportunities, including near misses. Regular safety briefings and staff training also form part of the mitigation of this risk.

 

Price Pressure

In line with the construction industry, inflation for key managers and people, specific trades and materials is continuing at elevated rates, risking profitability on long-term contracts where prices have been agreed in advance. Directors remain vigilant and mitigate this risk by working closely with their customers and suppliers, and ensure their quoting procedures are robust.

 

Project Delivery

Poor operational delivery of projects, whether through late delivery or quality of workmanship, could incur additional costs that eradicate cash and profit margins. Customers who experience this may not introduce repeat work or referrals. The group operates a quality control procedure to mitigate this risk, and formally measures the delivery of the projects throughout the contract life.

 

Liquidity Risk

The group seeks to manage financial risk to ensure sufficient liquidity is available to meet foreseeable needs and to invest cash and asses safely and profitably. As part of these procedures, the Directors have put in place sufficient facilities with its bankers to fulfil the group's ongoing cash flow requirements.

 

Credit Risk

The credit risk arises from the collection of trade debtors. Procedures have been implemented for the collection of these debtors in order to manage the relative risk, including where appropriate, requiring customer deposits and stage payments. Credit control is tight and there is a low level of bad debts. Credit and financial checked are regularly obtained on customers.

Key performance indicators

The group's turnover for the year was £19,565,597 (2022: £22,464,113) with an increased gross profit margin of 20% (2022: 15%). Administrative expenses reduced to £3,665,722 (2022: £3,772,605) and the operating profit for the year increased to £188,759 (2022: operating loss £261,033).

 

The net asset position of the company reduced to £1,303,739 (2022: £1,435,988) which was largely due to revised deferred tax provisions following the change in the rate of Corporation Tax and this does not concern the directors.

N J S GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -

Future outlook

All group companies have shown comparable levels of turnover to this year in the current year, and increased levels of profitability which has pleased the directors. The economy appears to have picked up in 2024, with the property market starting back up again and more properties being built. The group is involved in numerous large developments across Southern England which should provide work for several years to come. The directors are therefore excited about the groups prospects for the coming years.

On behalf of the board

Mr M E Hobbs
Director
17 September 2024
N J S GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -

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

Principal activities

The principal activity of the company and group continued to be that of construction activities.

Results and dividends

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

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

Directors

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

Mr M E Hobbs
Mr N J Shopland
Mr J G Gray
Mr D F Gray
Mr J Shopland
Mrs K Shopland
Statement of directors' responsibilities

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

 

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

 

 

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

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.

N J S GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -
On behalf of the board
Mr M E Hobbs
Director
17 September 2024
N J S GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF N J S GROUP LIMITED
- 5 -
Opinion

We have audited the financial statements of N J S Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 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, the company 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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.

Other information

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

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

N J S GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF N J S 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:

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.

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

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

 

N J S GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF N J S GROUP LIMITED
- 7 -

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.

Use of our report

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

Kevin Coppard FCA
Senior Statutory Auditor
For and on behalf of
17 September 2024
James Todd & Co Limited
Chartered Accountants
Statutory Auditor
Drayton House
Drayton Lane
Chichester
West Sussex
England
PO20 2EW
N J S GROUP LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 8 -
2023
2022
Notes
£
£
Turnover
3
19,565,597
22,464,113
Cost of sales
(15,711,116)
(19,002,541)
Gross profit
3,854,481
3,461,572
Administrative expenses
(3,665,722)
(3,722,605)
Operating profit/(loss)
4
188,759
(261,033)
Interest receivable and similar income
7
143
3
Interest payable and similar expenses
8
(212,390)
(177,789)
Amounts written off investments
9
-
185,000
Loss before taxation
(23,488)
(253,819)
Tax on loss
10
(108,761)
8,600
Loss for the financial year
23
(132,249)
(245,219)
Loss for the financial year is all attributable to the owners of the parent company.
N J S GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 9 -
2023
2022
£
£
Loss for the year
(132,249)
(245,219)
Other comprehensive income
-
-
Cash flow hedges gain arising in the year
-
0
-
0
Total comprehensive income for the year
(132,249)
(245,219)
Total comprehensive income for the year is all attributable to the owners of the parent company.
N J S GROUP LIMITED
GROUP BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 10 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
11
4,512,553
2,189,102
Current assets
Stocks
14
187,402
179,275
Debtors
15
5,080,936
4,710,421
Cash at bank and in hand
21,557
22,410
5,289,895
4,912,106
Creditors: amounts falling due within one year
16
(7,444,639)
(4,971,423)
Net current liabilities
(2,154,744)
(59,317)
Total assets less current liabilities
2,357,809
2,129,785
Creditors: amounts falling due after more than one year
17
(746,826)
(501,597)
Provisions for liabilities
Deferred tax liability
20
307,244
192,200
(307,244)
(192,200)
Net assets
1,303,739
1,435,988
Capital and reserves
Called up share capital
22
1,104
1,104
Profit and loss reserves
23
1,302,635
1,434,884
Total equity
1,303,739
1,435,988
The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
17 September 2024
Mr M E Hobbs
Director
Company registration number 04475764 (England and Wales)
N J S GROUP LIMITED
COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2023
30 September 2023
- 11 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
12
2,102
2,398
Current assets
Debtors
15
4
4
Cash at bank and in hand
500
-
0
504
4
Creditors: amounts falling due within one year
16
(1,502)
(1,298)
Net current liabilities
(998)
(1,294)
Net assets
1,104
1,104
Capital and reserves
Called up share capital
22
1,104
1,104

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 £0 (2022 - £0 profit).

The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
17 September 2024
Mr M E Hobbs
Director
Company registration number 04475764 (England and Wales)
N J S GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 12 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 October 2021
1,104
1,680,103
1,681,207
Year ended 30 September 2022:
Loss and total comprehensive income
-
(245,219)
(245,219)
Balance at 30 September 2022
1,104
1,434,884
1,435,988
Year ended 30 September 2023:
Loss and total comprehensive income
-
(132,249)
(132,249)
Balance at 30 September 2023
1,104
1,302,635
1,303,739
N J S GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 13 -
Share capital
£
Balance at 1 October 2021
1,104
Year ended 30 September 2022:
Profit and total comprehensive income for the year
-
Balance at 30 September 2022
1,104
Year ended 30 September 2023:
Profit and total comprehensive income
-
Balance at 30 September 2023
1,104
N J S GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 14 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
2,184,009
413,885
Interest paid
(212,390)
(177,789)
Income taxes refunded
-
0
4,172
Net cash inflow from operating activities
1,971,619
240,268
Investing activities
Purchase of tangible fixed assets
(2,667,407)
(495,202)
Proceeds from disposal of tangible fixed assets
9,624
52,297
Repayment of loans
62,399
(72,395)
Interest received
143
3
Net cash used in investing activities
(2,595,241)
(515,297)
Financing activities
Repayment of borrowings
-
185,000
Repayment of bank loans
255,035
(1,827,445)
Payment of finance leases obligations
2,420
97,096
Net cash generated from/(used in) financing activities
257,455
(1,545,349)
Net decrease in cash and cash equivalents
(366,167)
(1,820,378)
Cash and cash equivalents at beginning of year
(1,765,592)
54,786
Cash and cash equivalents at end of year
(2,131,759)
(1,765,592)
Relating to:
Cash at bank and in hand
21,557
22,410
Bank overdrafts included in creditors payable within one year
(2,153,316)
(1,788,002)
N J S GROUP LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 15 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
26
204
-
Investing activities
Proceeds from disposal of subsidiaries
296
-
Net cash generated from/(used in) investing activities
296
-
Net increase in cash and cash equivalents
500
-
Cash and cash equivalents at beginning of year
-
0
-
0
Cash and cash equivalents at end of year
500
-
0
N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 16 -
1
Accounting policies
Company information

N J S Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is .

 

The group consists of N J S 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. 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 N J S 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 September 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.

N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 17 -

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
Tangible fixed assets

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

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

Freehold land and buildings
Not depreciated
Leasehold land and buildings
2% straight line on buildings
Plant and equipment
20% straight line, 5% reducing balance and 25% reducing balance
Fixtures and fittings
25% straight line and 25% reducing balance
Computers
20% straight line
Motor vehicles
20% reducing balance and 25% reducing balance
Scaffolding
5% straight line, 25% straight line and 25% reducing balance
N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 18 -

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.

1.7
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.

1.8
Impairment of fixed assets

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

 

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.

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.

N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 19 -

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.

1.9
Stocks

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

 

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

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

1.10
Cash and cash equivalents

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

1.11
Financial instruments

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

 

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

 

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

Basic financial assets

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

Other financial assets

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

N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 20 -
Impairment of financial assets

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

 

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

 

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

Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

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

 

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

 

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

Other financial liabilities

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

 

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

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 21 -
1.12
Equity instruments

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

1.13
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.

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.

1.14
Employee benefits

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

 

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

 

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

1.15
Retirement benefits

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

1.16
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.

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

N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 22 -
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.

3
Turnover and other revenue
2023
2022
£
£
Turnover analysed by geographical market
United Kingdom
19,565,597
22,205,498
Australia
-
258,615
19,565,597
22,464,113
2023
2022
£
£
Other revenue
Interest income
143
3
4
Operating profit/(loss)
2023
2022
£
£
Operating profit/(loss) for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
304,306
362,863
Loss/(profit) on disposal of tangible fixed assets
30,026
(7,297)
Operating lease charges
4,992
3,000
5
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
-
-
Audit of the financial statements of the company's subsidiaries
26,000
18,500
N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 23 -
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
99
112
-
0
-
0

Their aggregate remuneration comprised:

Group
Company
2023
2022
2023
2022
£
£
£
£
Wages and salaries
4,865,921
5,039,894
-
0
-
0
Social security costs
483,250
164,315
-
-
Pension costs
123,660
123,093
-
0
-
0
5,472,831
5,327,302
-
0
-
0
7
Interest receivable and similar income
2023
2022
£
£
Interest income
Interest on bank deposits
143
3
2023
2022
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
143
3
8
Interest payable and similar expenses
2023
2022
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
168,277
135,056
Other interest on financial liabilities
2,342
-
170,619
135,056
Other finance costs:
Interest on finance leases and hire purchase contracts
41,771
42,733
Total finance costs
212,390
177,789
N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 24 -
9
Amounts written off investments
2023
2022
£
£
Amounts written back to financial liabilities
-
185,000
10
Taxation
2023
2022
£
£
Current tax
Adjustments in respect of prior periods
(6,283)
-
0
Deferred tax
Origination and reversal of timing differences
115,044
(8,600)
Total tax charge/(credit)
108,761
(8,600)

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

2023
2022
£
£
Loss before taxation
(23,488)
(253,819)
Expected tax credit based on the standard rate of corporation tax in the UK of 19.00% (2022: 19.00%)
(4,463)
(48,226)
Tax effect of expenses that are not deductible in determining taxable profit
47,725
20,828
Tax effect of utilisation of tax losses not previously recognised
(31,329)
(13,329)
Unutilised tax losses carried forward
208,694
81,156
Adjustments in respect of prior years
(6,283)
-
0
Permanent capital allowances in excess of depreciation
(220,627)
(40,429)
Deferred taxation
115,044
(8,600)
Taxation charge/(credit)
108,761
(8,600)
N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 25 -
11
Tangible fixed assets
Group
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Scaffolding
Total
£
£
£
£
£
£
£
£
Cost
At 1 October 2022
294,056
84,616
2,512,259
21,659
63,600
999,747
982,821
4,958,758
Additions
-
0
-
0
2,468,756
-
0
2,101
109,006
87,544
2,667,407
Disposals
-
0
-
0
(24,325)
-
0
-
0
(158,977)
-
0
(183,302)
At 30 September 2023
294,056
84,616
4,956,690
21,659
65,701
949,776
1,070,365
7,442,863
Depreciation and impairment
At 1 October 2022
-
0
10,153
1,260,271
13,124
44,922
546,379
894,807
2,769,656
Depreciation charged in the year
-
0
1,692
143,499
4,267
6,146
113,591
35,111
304,306
Eliminated in respect of disposals
-
0
-
0
(18,806)
-
0
-
0
(124,846)
-
0
(143,652)
At 30 September 2023
-
0
11,845
1,384,964
17,391
51,068
535,124
929,918
2,930,310
Carrying amount
At 30 September 2023
294,056
72,771
3,571,726
4,268
14,633
414,652
140,447
4,512,553
At 30 September 2022
294,056
74,463
1,251,988
8,535
18,678
453,368
88,014
2,189,102
The company had no tangible fixed assets at 30 September 2023 or 30 September 2022.
N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 26 -
12
Fixed asset investments
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
2,102
2,398
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 October 2022
2,398
Disposals
(296)
At 30 September 2023
2,102
Carrying amount
At 30 September 2023
2,102
At 30 September 2022
2,398
13
Subsidiaries

Details of the company's subsidiaries at 30 September 2023 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
NJS Brickwork Ltd.
United Kingdom
General building
Ordinary
100.00
NJS Scaffolding Limited
United Kingdom
Scaffolding
Ordinary
100.00
NJS Roofing
United Kingdom
Roofing
Ordinary
100.00
NJS Access Solutions Limited
United Kingdom
Scaffolding
Ordinary
100.00
NJS Safe Deck Ltd
United Kingdom
Safe decking
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
NJS Brickwork Ltd.
936,498
59,342
NJS Scaffolding Limited
870,892
(85,297)
NJS Roofing
285,580
(4,080)
NJS Access Solutions Limited
94,516
(21,376)
NJS Safe Deck Ltd
295,853
(79,740)
N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 27 -
14
Stocks
Group
Company
2023
2022
2023
2022
£
£
£
£
Raw materials and consumables
336
619
-
-
Work in progress
187,066
178,656
-
-
187,402
179,275
-
-
15
Debtors
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Trade debtors
4,453,762
4,110,619
-
0
-
0
Amounts owed by group undertakings
200
-
-
-
Other debtors
626,974
571,545
4
4
Prepayments and accrued income
-
0
28,257
-
0
-
0
5,080,936
4,710,421
4
4
16
Creditors: amounts falling due within one year
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans and overdrafts
18
2,375,089
2,011,215
-
0
-
0
Obligations under finance leases
19
171,099
157,433
-
0
-
0
Trade creditors
1,514,403
1,456,478
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
1,500
1,000
Corporation tax payable
4,221
10,504
-
0
-
0
Other taxation and social security
522,705
373,656
-
-
Other creditors
2,359,888
604,658
2
298
Accruals and deferred income
497,234
357,479
-
0
-
0
7,444,639
4,971,423
1,502
1,298
N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 28 -
17
Creditors: amounts falling due after more than one year
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Bank loans and overdrafts
18
453,943
197,468
-
0
-
0
Obligations under finance leases
19
292,883
304,129
-
0
-
0
746,826
501,597
-
-
18
Loans and overdrafts
Group
Company
2023
2022
2023
2022
£
£
£
£
Bank loans
675,716
420,681
-
0
-
0
Bank overdrafts
2,153,316
1,788,002
-
0
-
0
2,829,032
2,208,683
-
-
Payable within one year
2,375,089
2,011,215
-
0
-
0
Payable after one year
453,943
197,468
-
0
-
0

The bank loans and overdrafts are secured by a fixed and floating charge over all the group's assets.

 

Hire purchase and finance lease liabilities are secured on the related assets.

19
Finance lease obligations
Group
Company
2023
2022
2023
2022
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
171,098
157,433
-
0
-
0
In two to five years
292,884
304,129
-
0
-
0
463,982
461,562
-
-

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

N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 29 -
20
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
65,882
290,250
Tax losses
241,362
(87,300)
Retirement benefit obligations
-
(10,750)
307,244
192,200
Group
Company
2023
2023
Movements in the year:
£
£
Liability at 1 October 2022
192,200
-
Charge to profit or loss
115,044
-
Liability at 30 September 2023
307,244
-
21
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
123,660
123,093

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.

N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 30 -
22
Share capital
Group and company
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
660 A Ordinary Shares of £1 each of £1 each
660
660
660
660
440 B Ordinary Shares of £1 each of £1 each
440
440
440
440
1 C Ordinary Share of £1 each of £1 each
1
1
1
1
1 D Ordinary Share of £1 each of £1 each
1
1
1
1
1 E Ordinary Share of £1 each of £1 each
1
1
1
1
1 F Ordinary Share of £1 each of £1 each
1
1
1
1
1,104
1,104
1,104
1,104
23
Profit and loss reserves
Group
Company
2023
2022
2023
2022
£
£
£
£
At the beginning of the year
1,434,884
1,680,103
-
-
Loss for the year
(132,249)
(245,219)
-
0
-
0
At the end of the year
1,302,635
1,434,884
-
0
-
24
Related party transactions
Transactions with related parties

During the year the group entered into trading transactions with 9 Design Services Limited, Sense Safety Limited, Shopland Developments Limited, Shopland Gray Developments Limited, Build SG Limited, NJS Partnerships Limited, NJS Groundworks Limited and NEXA Properties Limited, companies related to those within the group.

 

The group sold or recharged services totalling £1,552,020 (2022: £65,963) to the above companies in the year, and purchased services totalling £279,018 (2022: £150,863) from the above companies in the year.

 

As at the year-end, the group owed £111,301 (2022: £41,343) to 9 Design Services Limited; owed £21,002 (2022: £39,297) to Sense Safety Limited; was owed £112,109 (2022: £30,674) from Shopland Developments Limited; was owed £960 (2022: £11,489) from Shopland Gray Developments Limited; owed £4,902 (2022: £19,885 was owed) to Build SG Limited; was owed £91,731 (2022:£Nil) from NJS Partnerships Limited.

N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 31 -
25
Cash generated from group operations
2023
2022
£
£
Loss for the year after tax
(132,249)
(245,219)
Adjustments for:
Taxation charged/(credited)
108,761
(8,600)
Finance costs
212,392
177,789
Investment income
(143)
(3)
Loss/(gain) on disposal of tangible fixed assets
30,026
(7,297)
Depreciation and impairment of tangible fixed assets
304,306
362,863
Other gains and losses
-
(185,000)
Movements in working capital:
(Increase)/decrease in stocks
(8,127)
160,752
(Increase)/decrease in debtors
(432,916)
581,628
Increase/(decrease) in creditors
2,101,959
(423,028)
Cash generated from operations
2,184,009
413,885
26
Cash generated from operations - company
2023
2022
£
£
Profit for the year after tax
-
-
Movements in working capital:
Increase in creditors
204
1,294
Cash generated from operations
204
1,294
27
Analysis of changes in net debt - group
1 October 2022
Cash flows
30 September 2023
£
£
£
Cash at bank and in hand
22,410
(853)
21,557
Bank overdrafts
(1,788,002)
(365,314)
(2,153,316)
(1,765,592)
(366,167)
(2,131,759)
Borrowings excluding overdrafts
(420,681)
(255,035)
(675,716)
Obligations under finance leases
(461,562)
(2,420)
(463,982)
(2,647,835)
(623,622)
(3,271,457)
N J S GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 32 -
28
Analysis of changes in net funds - company
1 October 2022
Cash flows
30 September 2023
£
£
£
Cash at bank and in hand
-
500
500
2023-09-302022-10-01falseCCH SoftwareCCH Accounts Production 2024.210Mr N J ShoplandMr J G GrayMr D F GrayMr J ShoplandMrs K ShoplandMrs K ShoplandMr M E 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