Company registration number 13861801 (England and Wales)
DLSR HOLDINGS LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
DLSR HOLDINGS LTD
COMPANY INFORMATION
Directors
Mr S M Rokach
Mr D S Langer
Company number
13861801
Registered office
Lynwood House
373-375 Station Road
Harrow
Middlesex
HA1 2AW
Auditor
RDP Newmans LLP
Lynwood House
373-375 Station Road
Harrow
Middlesex
HA1 2AW
Business address
7 Russell Parade
Golders Green Road
London
NW11 9NN
DLSR HOLDINGS LTD
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Group statement of comprehensive income
7
Group balance sheet
8
Company balance sheet
9
Group statement of changes in equity
10
Company statement of changes in equity
11
Group statement of cash flows
12
Company statement of cash flows
13
Notes to the financial statements
14 - 28
DLSR HOLDINGS LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

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

Principal activities

The principal activity of the company is that of a holding company. It holds 100% of the shares in Scopeway Limited.

The principal activity of Scopeway Limited is the retail of kosher food and drink products.

Fair review of the business

The Key Performance Indicators of DLSR Holdings Ltd group are detailed below:

 

         2023         2022    

Turnover (£'000)        22,814            20,034        

Gross profit %        15.46            15.49        

Net profit % after tax    5.17            5.01        

 

Net assets (£'000)    2,018            951        

 

The results for the year and the financial position at the year end were considered satisfactory by the directors who expect to continue improving on these in the foreseeable future.

Principal Risks and Uncertainties

The principal risks and uncertainties facing DLSR Holdings Ltd are:

 

Credit risk

The risk arising from the possibility that the group will incur losses from the failure of customers and counterparties to meet their obligations is constantly reviewed. This risk is minimal as the vast majority of customers are not offered credit terms.

 

Liquidity risk

Liquidity risk arises in relation to the group's management of working capital and the risk that the group will encounter difficulties in meeting financial obligations as and when they fall due. To minimise this risk, the liquidity position and ongoing working capital requirements are regularly reviewed by the directors.

 

Market risk

The risk arising from competition from other retailers in the market. This risk is mitigated by the specialised product range and the keen pricing of these products.

 

War in Ukraine

Due to the war in Ukraine, the global economy has been impacted by a rise in fuel prices. The group could potentially be largely impacted by this price increase as it relies heavily on daily transportation of goods. The directors are aware of the situation and are taking necessary steps in order to reduce this risk to a minimum, such as strategically buying goods in bulk wherever possible.

 

Future developments

The directors anticipate the business will continue to trade at similar levels over the next 12 months. The group is in a good financial position and the risks that have been identified are well managed. The directors are confident in the group's ability to maintain and build on it's position within the kosher foods industry in the coming year.

On behalf of the board

Mr S M Rokach
Director
29 July 2024
DLSR HOLDINGS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -

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

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £111,697. 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 S M Rokach
Mr D S Langer
Auditor

The auditor, RDP Newmans LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Strategic report

The truegroup has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

Statement of disclosure to auditor

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

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr S M Rokach
Director
29 July 2024
2024-09-20
DLSR HOLDINGS LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -

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.

DLSR HOLDINGS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DLSR HOLDINGS LTD
- 4 -
Opinion

We have audited the financial statements of DLSR Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the group statement of comprehensive income, the group 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:

DLSR HOLDINGS LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DLSR HOLDINGS LTD
- 5 -
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.

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

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

DLSR HOLDINGS LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DLSR HOLDINGS LTD
- 6 -

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

A R Gangola FCA (Senior Statutory Auditor)
For and on behalf of RDP Newmans LLP
6 August 2024
Chartered Accountants
Statutory Auditor
Lynwood House
373-375 Station Road
Harrow
Middlesex
HA1 2AW
DLSR HOLDINGS LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
Year
Period
ended
ended
31 December
31 December
2023
2022
Notes
£
£
Turnover
3
22,814,180
20,034,191
Cost of sales
(19,286,093)
(16,931,098)
Gross profit
3,528,087
3,103,093
Administrative expenses
(1,837,706)
(1,751,385)
Other operating income
-
1,119
Operating profit
4
1,690,381
1,352,827
Interest receivable and similar income
7
17,671
814
Interest payable and similar expenses
8
(258)
-
0
Profit before taxation
1,707,794
1,353,641
Tax on profit
9
(528,753)
(350,701)
Profit for the financial year and total comprehensive income
1,179,041
1,002,940
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
DLSR HOLDINGS LTD
GROUP BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 8 -
2023
2022
Notes
£
£
£
£
Fixed assets
Goodwill
11
3,825,263
4,298,492
Tangible assets
12
444,771
347,114
4,270,034
4,645,606
Current assets
Stocks
15
1,057,953
1,159,487
Debtors
16
541,858
458,763
Cash at bank and in hand
864,223
2,460,949
2,464,034
4,079,199
Creditors: amounts falling due within one year
17
(2,331,465)
(2,777,953)
Net current assets
132,569
1,301,246
Total assets less current liabilities
4,402,603
5,946,852
Creditors: amounts falling due after more than one year
18
(2,280,000)
(4,930,000)
Provisions for liabilities
Deferred tax liability
19
104,615
66,208
(104,615)
(66,208)
Net assets
2,017,988
950,644
Capital and reserves
Called up share capital
21
102
102
Profit and loss reserves
2,017,886
950,542
Total equity
2,017,988
950,644

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
29 July 2024
Mr S M Rokach
Director
Company registration number 13861801 (England and Wales)
DLSR HOLDINGS LTD
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 9 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
13
8,870,682
8,870,682
Current assets
Debtors
16
102
102
Creditors: amounts falling due within one year
17
(653,691)
(646,391)
Net current liabilities
(653,589)
(646,289)
Total assets less current liabilities
8,217,093
8,224,393
Creditors: amounts falling due after more than one year
18
(2,280,000)
(4,930,000)
Net assets
5,937,093
3,294,393
Capital and reserves
Called up share capital
21
102
102
Profit and loss reserves
5,936,991
3,294,291
Total equity
5,937,093
3,294,393

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 £2,754,397 (2022 - £3,346,689 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
29 July 2024
Mr S M Rokach
Director
Company registration number 13861801 (England and Wales)
DLSR HOLDINGS LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2022
-
0
-
0
-
Period ended 31 December 2022:
Profit and total comprehensive income
-
1,002,940
1,002,940
Issue of share capital
21
102
-
102
Dividends
10
-
(52,398)
(52,398)
Balance at 31 December 2022
102
950,542
950,644
Year ended 31 December 2023:
Profit and total comprehensive income
-
1,179,041
1,179,041
Dividends
10
-
(111,697)
(111,697)
Balance at 31 December 2023
102
2,017,886
2,017,988
DLSR HOLDINGS LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2022
-
0
-
0
-
Period ended 31 December 2022:
Profit and total comprehensive income for the period
-
3,346,689
3,346,689
Issue of share capital
21
102
-
102
Dividends
10
-
(52,398)
(52,398)
Balance at 31 December 2022
102
3,294,291
3,294,393
Year ended 31 December 2023:
Profit and total comprehensive income
-
2,754,397
2,754,397
Dividends
10
-
(111,697)
(111,697)
Balance at 31 December 2023
102
5,936,991
5,937,093
DLSR HOLDINGS LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 12 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
25
(549,697)
7,864,290
Interest paid
(258)
-
0
Income taxes paid
(764,381)
(267,693)
Net cash (outflow)/inflow from operating activities
(1,314,336)
7,596,597
Investing activities
Acquisition of subsidiary, net of cash acquired
532,023
Purchase of tangible fixed assets
(188,364)
(94,438)
Proceeds from disposal of tangible fixed assets
-
8,249
Interest received
17,671
814
Net cash (used in)/generated from investing activities
(170,693)
446,648
Financing activities
Proceeds from issue of shares
-
102
Deferred consideration
(5,530,000)
Dividends paid to equity shareholders
(111,697)
(52,398)
Net cash used in financing activities
(111,697)
(5,582,296)
Net (decrease)/increase in cash and cash equivalents
(1,596,726)
2,460,949
Cash and cash equivalents at beginning of year
2,460,949
-
0
Cash and cash equivalents at end of year
864,223
2,460,949
DLSR HOLDINGS LTD
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 13 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
111,697
52,398
Financing activities
Dividends paid to equity shareholders
(111,697)
(52,398)
Net cash used in financing activities
(111,697)
(52,398)
Net increase in cash and cash equivalents
-
-
Cash and cash equivalents at beginning of year
-
0
-
0
Cash and cash equivalents at end of year
-
0
-
0
DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 14 -
1
Accounting policies
Company information

DLSR Holdings Ltd is a private limited company domiciled and incorporated in England and Wales. The registered office is Lynwood House, 373-375 Station Road, Harrow, Middlesex, HA1 2AW.

 

The group consists of DLSR Holdings Ltd and all of its subsidiaries.

1.1
Reporting period

The prior period figures are for the period from 20 January 2022 (date of incorporation) to 30 September 2023. As a result the comparatives (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
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.

1.4
Basis of consolidation

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

 

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

 

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

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

DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 15 -
1.5
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.

1.6
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT. Turnover also includes commission earned from concession partners and is stated at the value of the margin the company receives.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, 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.

1.7
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.8
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:

Leasehold land and buildings
10 years straight line
Website costs
25% reducing balance
Fixtures and fittings
15% reducing balance
Computer equipment
33% reducing balance
Motor vehicles
25% reducing balance

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.

1.9
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.

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

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.

1.10
Impairment of fixed assets

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

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 17 -
1.11
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.

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.

1.12
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.

1.13
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.

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.

DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 18 -
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.

Derecognition of financial liabilities

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

1.14
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.

1.15
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.

DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 19 -
1.16
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 year 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.

1.17
Retirement benefits

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

1.18
Leases

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

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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Goodwill

The group amortises goodwill over its estimated useful life. The estimation of the useful life is based on performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by the directors.

3
Turnover and other revenue
2023
2022
£
£
Turnover analysed by class of business
Sales
22,443,015
19,688,801
Concessions
371,165
345,390
22,814,180
20,034,191
DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
3
Turnover and other revenue
(Continued)
- 20 -
2023
2022
£
£
Other revenue
Interest income
17,671
814
Grants received
-
1,119
4
Operating profit
2023
2022
£
£
Operating profit for the year is stated after charging/(crediting):
Government grants
-
(1,119)
Depreciation of owned tangible fixed assets
90,707
79,416
Profit on disposal of tangible fixed assets
-
(3,794)
Amortisation of intangible assets
473,229
433,793
Operating lease charges
200,615
178,613
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
3,800
2,700
Audit of the financial statements of the company's subsidiaries
12,000
13,000
15,800
15,700
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
Management and administration
12
10
2
2
Sales
69
67
-
-
Total
81
77
2
2
DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
6
Employees
(Continued)
- 21 -

Their aggregate remuneration comprised:

Group
Company
2023
2022
2023
2022
£
£
£
£
Wages and salaries
1,727,339
1,545,030
-
0
-
0
Social security costs
143,181
130,686
-
-
Pension costs
24,949
20,869
-
0
-
0
1,895,469
1,696,585
-
0
-
0
7
Interest receivable and similar income
2023
2022
£
£
Interest income
Interest on bank deposits
15,699
685
Other interest income
1,972
129
Total income
17,671
814
2023
2022
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
15,699
685
8
Interest payable and similar expenses
2023
2022
£
£
Other finance costs:
Other interest
258
-
9
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
490,346
334,974
Deferred tax
Origination and reversal of timing differences
38,407
15,727
Total tax charge
528,753
350,701
DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
9
Taxation
(Continued)
- 22 -

The corporation tax rate has increased from 19% to 25% from 1 April 2023. The effective tax rate for the year ended 31 December 2023 was 3 months at 19% and 9 months at 25%. The average rate was therefore 23.52%.

 

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

2023
2022
£
£
Profit before taxation
1,707,794
1,353,641
Expected tax charge based on the standard rate of corporation tax in the UK of 23.52% (2022: 19.00%)
401,673
257,192
Tax effect of expenses that are not deductible in determining taxable profit
3,646
3,106
Profit on disposal of fixed assets not taxable
-
0
(721)
Unutilised tax losses carried forward
1,717
1,085
Permanent capital allowances in excess of depreciation
(46,079)
(20,106)
Depreciation on assets not qualifying for tax allowances
18,086
11,998
Amortisation on assets not qualifying for tax allowances
111,303
82,420
Deferred tax
38,407
15,727
Taxation charge
528,753
350,701
10
Dividends
2023
2022
Recognised as distributions to equity holders:
£
£
Interim paid
111,697
52,398
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
4,732,285
Amortisation and impairment
At 1 January 2023
433,793
Amortisation charged for the year
473,229
At 31 December 2023
907,022
DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
11
Intangible fixed assets
(Continued)
- 23 -
Carrying amount
At 31 December 2023
3,825,263
At 31 December 2022
4,298,492
The company had no intangible fixed assets at 31 December 2023 or 31 December 2022.
12
Tangible fixed assets
Group
Leasehold land and buildings
Website costs
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2023
80,326
45,990
274,284
1,028
4,628
406,256
Additions
16,341
12,592
157,331
2,100
-
0
188,364
At 31 December 2023
96,667
58,582
431,615
3,128
4,628
594,620
Depreciation and impairment
At 1 January 2023
11,185
17,833
37,565
263
(7,704)
59,142
Depreciation charged in the year
13,835
14,483
58,590
716
3,083
90,707
At 31 December 2023
25,020
32,316
96,155
979
(4,621)
149,849
Carrying amount
At 31 December 2023
71,647
26,266
335,460
2,149
9,249
444,771
At 31 December 2022
69,141
28,157
236,719
765
12,332
347,114
The company had no tangible fixed assets at 31 December 2023 or 31 December 2022.
13
Fixed asset investments
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
8,870,682
8,870,682
DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
13
Fixed asset investments
(Continued)
- 24 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2023 and 31 December 2023
8,870,682
Carrying amount
At 31 December 2023
8,870,682
At 31 December 2022
8,870,682
14
Subsidiaries

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

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Scopeway Limited
England & Wales
Ordinary shares
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)
£
£
Scopeway Limited
1,126,313
1,659,570
15
Stocks
Group
Company
2023
2022
2023
2022
£
£
£
£
Goods for resale
1,057,953
1,159,487
-
0
-
0
16
Debtors
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Trade debtors
288,418
269,595
-
0
-
0
Other debtors
437
2,302
102
102
Prepayments and accrued income
253,003
186,866
-
0
-
0
541,858
458,763
102
102
DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 25 -
17
Creditors: amounts falling due within one year
Group
Company
2023
2022
2023
2022
£
£
£
£
Trade creditors
1,207,890
1,436,270
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
45,491
40,991
Corporation tax payable
161,212
435,247
-
0
-
0
Other taxation and social security
99,248
99,827
-
-
Other creditors
801,980
750,645
600,000
600,000
Accruals and deferred income
61,135
55,964
8,200
5,400
2,331,465
2,777,953
653,691
646,391
18
Creditors: amounts falling due after more than one year
Group
Company
2023
2022
2023
2022
£
£
£
£
Other creditors
2,280,000
4,930,000
2,280,000
4,930,000
19
Deferred taxation

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

Liabilities
Liabilities
2023
2022
Group
£
£
Accelerated capital allowances
85,714
46,304
Other tax adjustments - tax rate change
18,901
19,904
104,615
66,208
The company has no deferred tax assets or liabilities.
Group
Company
2023
2023
Movements in the year:
£
£
Liability at 1 January 2023
66,208
-
Charge to profit or loss
38,407
-
Liability at 31 December 2023
104,615
-

 

DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 26 -
20
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
24,949
20,869

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.

 

The amount of outstanding contributions at the reporting date was £2,558 (2022: £1,917).

21
Share capital
Group and company
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
50
50
50
50
Ordinary B Shares of £1 each
50
50
50
50
Ordinary C Shares of £1 each
2
2
2
2
102
102
102
102

All classes of shares rank pari passu in all respects save that the directors are empowered to vote and declare dividends to any one or more of the share categories separately.

22
Operating lease commitments
Lessee

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

Group
Company
2023
2022
2023
2022
£
£
£
£
Within one year
201,815
390,000
-
-
Between two and five years
794,198
1,560,000
-
-
In over five years
81,250
552,500
-
-
1,077,263
2,502,500
-
-
23
Related party transactions
Transactions with related parties

The company has taken advantage of the exemption available in accordance with FRS 102 para 33.1A not to disclose transactions entered into between two or more members of a group.

24
Controlling party
The ultimate controlling interest is held equally by the directors Mr S M Rokach and Mr D S Langer.
DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 27 -
25
Cash (absorbed by)/generated from group operations
2023
2022
£
£
Profit for the year after tax
1,179,041
1,002,940
Adjustments for:
Taxation charged
528,753
350,701
Finance costs
258
-
0
Investment income
(17,671)
(814)
Gain on disposal of tangible fixed assets
-
(3,794)
Amortisation and impairment of intangible assets
473,229
433,793
Depreciation and impairment of tangible fixed assets
90,707
79,416
Movements in working capital:
Decrease/(increase) in stocks
101,534
(104,187)
Increase in debtors
(83,095)
(48,384)
(Decrease)/increase in creditors
(2,822,453)
6,154,619
Cash (absorbed by)/generated from operations
(549,697)
7,864,290
26
Cash generated from operations - company
2023
2022
£
£
Profit for the year after tax
2,754,397
3,346,689
Adjustments for:
Investment income
(3,288,182)
Deferred consideration
-
(5,530,000)
Movements in working capital:
Increase in debtors
-
(102)
(Decrease)/increase in creditors
(2,642,700)
5,523,993
Cash generated from operations
111,697
52,398
27
Analysis of changes in net funds - group
1 January 2023
Cash flows
31 December 2023
£
£
£
Cash at bank and in hand
2,460,949
(1,596,726)
864,223
DLSR HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 28 -
28
Analysis of changes in net funds - company
1 January 2023
31 December 2023
£
£
-
-
2023-12-312023-01-01falseCCH SoftwareCCH Accounts Production 2024.100Mr S M RokachMr D S Langerfalse13861801bus:Consolidated2023-01-012023-12-31138618012023-01-012023-12-3113861801bus:Director12023-01-012023-12-3113861801bus:Director22023-01-012023-12-3113861801bus:RegisteredOffice2023-01-012023-12-3113861801bus:Consolidated2023-12-31138618012023-12-3113861801bus:Consolidated2022-01-012022-12-31138618012022-01-012022-12-3113861801core:Goodwillbus:Consolidated2023-12-3113861801core:Goodwillbus:Consolidated2022-12-3113861801bus:Consolidated2022-12-3113861801core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-12-3113861801core:PlantMachinerybus:Consolidated2023-12-3113861801core:FurnitureFittingsbus:Consolidated2023-12-3113861801core:ComputerEquipmentbus:Consolidated2023-12-3113861801core:MotorVehiclesbus:Consolidated2023-12-3113861801core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2022-12-3113861801core:PlantMachinerybus:Consolidated2022-12-3113861801core:FurnitureFittingsbus:Consolidated2022-12-3113861801core:ComputerEquipmentbus:Consolidated2022-12-3113861801core:MotorVehiclesbus:Consolidated2022-12-3113861801core:ShareCapitalbus:Consolidated2023-12-3113861801core:ShareCapitalbus:Consolidated2022-12-3113861801core:ShareCapital2023-12-3113861801core:ShareCapital2022-12-3113861801core:RetainedEarningsAccumulatedLosses2023-12-3113861801core:ShareCapitalbus:Consolidated2021-12-3113861801core:RetainedEarningsAccumulatedLossesbus:Consolidated2021-12-3113861801core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-12-3113861801core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-12-3113861801core:ShareCapital2021-12-3113861801core:RetainedEarningsAccumulatedLosses2021-12-3113861801core:RetainedEarningsAccumulatedLosses2022-12-31138618012022-12-3113861801core:ShareCapitalbus:Consolidated2022-01-012022-12-3113861801core:ShareCapital2022-01-012022-12-3113861801bus:Consolidated2021-12-31138618012021-12-3113861801core:Goodwill2023-01-012023-12-3113861801core:LandBuildingscore:LongLeaseholdAssets2023-01-012023-12-3113861801core:PlantMachinery2023-01-012023-12-3113861801core:FurnitureFittings2023-01-012023-12-3113861801core:ComputerEquipment2023-01-012023-12-3113861801core:MotorVehicles2023-01-012023-12-3113861801core:UKTaxbus:Consolidated2023-01-012023-12-3113861801core:UKTaxbus:Consolidated2022-01-012022-12-3113861801bus:Consolidated12023-01-012023-12-3113861801bus:Consolidated12022-01-012022-12-3113861801bus:Consolidated22023-01-012023-12-3113861801bus:Consolidated22022-01-012022-12-3113861801bus:Consolidated32023-01-012023-12-3113861801bus:Consolidated32022-01-012022-12-3113861801core:Goodwillbus:Consolidated2022-12-3113861801core:Goodwillbus:Consolidated2023-01-012023-12-3113861801core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2022-12-3113861801core:PlantMachinerybus:Consolidated2022-12-3113861801core:FurnitureFittingsbus:Consolidated2022-12-3113861801core:ComputerEquipmentbus:Consolidated2022-12-3113861801core:MotorVehiclesbus:Consolidated2022-12-3113861801bus:Consolidated2022-12-3113861801core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-01-012023-12-3113861801core:PlantMachinerybus:Consolidated2023-01-012023-12-3113861801core:FurnitureFittingsbus:Consolidated2023-01-012023-12-3113861801core:ComputerEquipmentbus:Consolidated2023-01-012023-12-3113861801core:MotorVehiclesbus:Consolidated2023-01-012023-12-3113861801core:CurrentFinancialInstruments2023-12-3113861801core:CurrentFinancialInstruments2022-12-3113861801core:CurrentFinancialInstrumentsbus:Consolidated2023-12-3113861801core:CurrentFinancialInstrumentsbus:Consolidated2022-12-3113861801core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-12-3113861801core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2022-12-3113861801core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3113861801core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3113861801core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated12023-12-3113861801core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated12022-12-3113861801core:Non-currentFinancialInstrumentscore:AfterOneYear22023-12-3113861801core:Non-currentFinancialInstrumentscore:AfterOneYear22022-12-3113861801bus:PrivateLimitedCompanyLtd2023-01-012023-12-3113861801bus:FRS1022023-01-012023-12-3113861801bus:Audited2023-01-012023-12-3113861801bus:ConsolidatedGroupCompanyAccounts2023-01-012023-12-3113861801bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP