List Group PLC 01243960 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of a holding company Digita Accounts Production Advanced 6.30.9574.0 true true true Class 1 Class 2 Class 3 false false false false false false 01243960 2023-05-01 2024-04-30 01243960 2024-04-30 01243960 core:AcceleratedTaxDepreciationDeferredTax 2024-04-30 01243960 core:RetainedEarningsAccumulatedLosses 2024-04-30 01243960 core:ShareCapital 2024-04-30 01243960 core:CurrentFinancialInstruments 2024-04-30 01243960 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 01243960 core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments 2024-04-30 01243960 core:ProvisionsForImpairmentInvestments 2024-04-30 01243960 core:FurnitureFittingsToolsEquipment 2024-04-30 01243960 core:MotorVehicles 2024-04-30 01243960 bus:FRS102 2023-05-01 2024-04-30 01243960 bus:Audited 2023-05-01 2024-04-30 01243960 bus:FullAccounts 2023-05-01 2024-04-30 01243960 bus:RegisteredOffice 2023-05-01 2024-04-30 01243960 bus:Director1 2023-05-01 2024-04-30 01243960 bus:Director2 2023-05-01 2024-04-30 01243960 bus:HighestPaidDirector 2023-05-01 2024-04-30 01243960 bus:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2023-05-01 2024-04-30 01243960 1 2023-05-01 2024-04-30 01243960 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 01243960 core:ShareCapital 2023-05-01 2024-04-30 01243960 countries:UnitedKingdom 2023-05-01 2024-04-30 01243960 core:ReportableOperatingSegment1 2023-05-01 2024-04-30 01243960 core:ReportableOperatingSegment2 2023-05-01 2024-04-30 01243960 core:ReportableOperatingSegment3 2023-05-01 2024-04-30 01243960 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 01243960 core:LandBuildings 2023-05-01 2024-04-30 01243960 core:MotorVehicles 2023-05-01 2024-04-30 01243960 core:OtherRelatedParties 2023-05-01 2024-04-30 01243960 core:Subsidiary1 2023-05-01 2024-04-30 01243960 core:Subsidiary1 1 2023-05-01 2024-04-30 01243960 core:Subsidiary2 2023-05-01 2024-04-30 01243960 core:Subsidiary2 1 2023-05-01 2024-04-30 01243960 core:Subsidiary3 2023-05-01 2024-04-30 01243960 core:Subsidiary3 1 2023-05-01 2024-04-30 01243960 core:Subsidiary4 2023-05-01 2024-04-30 01243960 core:Subsidiary4 1 2023-05-01 2024-04-30 01243960 core:Subsidiary5 2023-05-01 2024-04-30 01243960 core:Subsidiary5 1 2023-05-01 2024-04-30 01243960 core:Subsidiary5 countries:AllCountries 2023-05-01 2024-04-30 01243960 core:UKTax 2023-05-01 2024-04-30 01243960 countries:England 2023-05-01 2024-04-30 01243960 2023-04-30 01243960 core:RetainedEarningsAccumulatedLosses 2023-04-30 01243960 core:ShareCapital 2023-04-30 01243960 core:CostValuation 2023-04-30 01243960 core:ProvisionsForImpairmentInvestments 2023-04-30 01243960 core:FurnitureFittingsToolsEquipment 2023-04-30 01243960 core:MotorVehicles 2023-04-30 01243960 2022-05-01 2023-04-30 01243960 2023-04-30 01243960 core:AcceleratedTaxDepreciationDeferredTax 2023-04-30 01243960 core:CurrentFinancialInstruments 2023-04-30 01243960 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 01243960 core:FurnitureFittingsToolsEquipment 2023-04-30 01243960 core:MotorVehicles 2023-04-30 01243960 bus:HighestPaidDirector 2022-05-01 2023-04-30 01243960 1 2022-05-01 2023-04-30 01243960 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 01243960 core:ShareCapital 2022-05-01 2023-04-30 01243960 countries:UnitedKingdom 2022-05-01 2023-04-30 01243960 core:Subsidiary1 1 2022-05-01 2023-04-30 01243960 core:Subsidiary2 1 2022-05-01 2023-04-30 01243960 core:Subsidiary3 1 2022-05-01 2023-04-30 01243960 core:Subsidiary4 1 2022-05-01 2023-04-30 01243960 core:Subsidiary5 1 2022-05-01 2023-04-30 01243960 core:UKTax 2022-05-01 2023-04-30 01243960 2022-04-30 01243960 core:RetainedEarningsAccumulatedLosses 2022-04-30 01243960 core:ShareCapital 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01243960

List Group PLC

Annual Report and Financial Statements

for the Year Ended 30 April 2024

 

List Group PLC

Contents

Strategic Report

1

Directors' Report

2

Statement of Directors' Responsibilities

3

Independent Auditor's Report

4 to 7

Profit and Loss Account

8

Balance Sheet

9

Statement of Changes in Equity

10

Statement of Cash Flows

11

Notes to the Financial Statements

12 to 20

 

List Group PLC

Strategic Report for the Year Ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.

Principal activity

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

Fair review of the business

During the year turnover from management charges and interest has remained consistent. Dividends from subsidiaries have increased this year, as a result of consistent performance during the year.

With largely consistent overheads, the directors were pleased to report a small profit for the year. Moving premises in previous years has enabled the company to reduce some operating inefficiencies.

Group support remains in place from subsidiaries that are profitable across the group. Similarly, the trustees of the pension fund have confirmed ongoing support for the company.

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs

Unit

2024

2023

Turnover

£

116,000

116,000

Dividend income

£

430,000

325,000

Principal risks and uncertainties

The principal risks and uncertainties of the company are linked to the performance of the subsidiary companies.

Market conditions are expected to remain difficult for the subsidiary companies in the foreseeable future, but the directors consider that the group's focus on market leading service provision and continuing expansion of its customer base will ensure the longer term growth of the business.

In line with many other businesses in the local area, the subsidiaries within the group have a significant amount of work with British Steel and we acknowledge the risks that this represents. The directors continue to mitigate this risk by establishing new customers and new markets.

The group continues to be one of the regional market leaders in engineering design and recruitment consultancy. The directors' long term plan continues to be the expansion of the group and its customer base where possible to diversify risk and take advantage of economies of scale.

The uncertainty within the economy affects businesses across the country. We will manage this risk by keeping up to date on the latest developments, assessing how changes in regulation will affect the business and putting appropriate plans in place to maximise trade for the entity. Over our history we have maximised growth and profitability in good years and weathered the downturns in bad years. We are confident that with the strong balance sheet and proven management team we will be able to maintain this performance in coming years.

Approved by the Board on 28 October 2024 and signed on its behalf by:

Mr C C List
Director

   
     
 

List Group PLC

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr D T List

Mr C C List

Financial instruments

Objectives and policies

The companies principal financial instruments comprise of bank balances. The main purpose of these instruments is to finance the company's operations. The board of directors monitor financial risks on a daily basis and are quick to respond to any areas of concern.

Price risk, credit risk, liquidity risk and cash flow risk

In respect of bank balances, the company's cash balances are held in such a way that achieves a competitive rate of interest. Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved by the Board on 28 October 2024 and signed on its behalf by:

Mr C C List
Director

   
     
 

List Group PLC

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities 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 company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

List Group PLC

Independent Auditor's Report to the Members of List Group PLC

Opinion

We have audited the financial statements of List Group PLC (the 'company') for the year ended 30 April 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the 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 director's 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 company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

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

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

 

List Group PLC

Independent Auditor's Report to the Members of List Group PLC

Opinion on other matter prescribed by the Companies Act 2006

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

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities (set out on page 3), 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor 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 the audit was considered capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

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

 

List Group PLC

Independent Auditor's Report to the Members of List Group PLC

the nature of the industry and sector, control environment and business performance including the design of remuneration policies;

the company’s own assessment of the risks that irregularities may occur either as a result of fraud or error;

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

the key laws and regulations under which the business operates and whether management were aware of any instances of noncompliance;

whether the management have knowledge of any actual, suspected or alleged fraud;

the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and

the matters discussed among the audit engagement team, regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

 


As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

transactions surrounding the processing of payroll; and

management override of controls.

 

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

 


We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, Tax legislation, and Regulations
established by regulators in the key markets in which the company operates.

 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty. These included the operating regulations relevant to the company.

In addition to the above, our procedures to respond to risks identified included the following:

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

enquiring of management, concerning any actual and potential litigation and claims; and

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

 

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

 

List Group PLC

Independent Auditor's Report to the Members of List Group PLC

 

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud my involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: 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.





John Heeney BA FCA (Senior Statutory Auditor)
For and on behalf of RNS Chartered Accountants, Statutory Auditor

50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

28 October 2024

 

List Group PLC

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

3

116,000

116,000

Gross profit

 

116,000

116,000

Administrative expenses

 

(417,724)

(399,915)

Operating loss

4

(301,724)

(283,915)

Income from shares in group undertakings

 

430,000

325,000

Other interest receivable and similar income

5

1,297

48

Amounts written off investments

 

(100,000)

-

Interest payable and similar expenses

6

(24,319)

(26,466)

   

306,978

298,582

Profit before tax

 

5,254

14,667

Tax on profit

10

(416)

1,008

Profit for the financial year

 

4,838

15,675

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

List Group PLC

(Registration number: 01243960)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

11

6,072

7,606

Investments

12

51,462

151,462

 

57,534

159,068

Current assets

 

Debtors

13

1,304,334

1,506,887

Cash at bank and in hand

14

164,351

13,777

 

1,468,685

1,520,664

Creditors: Amounts falling due within one year

15

(613,701)

(707,052)

Net current assets

 

854,984

813,612

Net assets

 

912,518

972,680

Capital and reserves

 

Called up share capital

17

50,500

50,500

Retained earnings

862,018

922,180

Shareholders' funds

 

912,518

972,680

Approved and authorised by the Board on 28 October 2024 and signed on its behalf by:
 


Mr C C List
Director

   
 

List Group PLC

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

50,500

922,180

972,680

Profit for the year

-

4,838

4,838

Dividends

-

(65,000)

(65,000)

At 30 April 2024

50,500

862,018

912,518

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

50,500

1,053,505

1,104,005

Profit for the year

-

15,675

15,675

Dividends

-

(147,000)

(147,000)

At 30 April 2023

50,500

922,180

972,680

 

List Group PLC

Statement of Cash Flows for the Year Ended 30 April 2024

Note

2024
£

2023
£

Cash flows from operating activities

Profit for the year

 

4,838

15,675

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

4

1,534

2,617

Amounts written off investments

 

100,000

-

Finance income

 

(431,297)

(325,048)

Finance costs

6

24,319

26,466

Corporation tax expense

10

416

(1,008)

 

(300,190)

(281,298)

Working capital adjustments

 

Decrease in trade and other debtors

13

202,137

5,785

(Decrease)/increase in trade and other creditors

15

(93,351)

29,825

Net cash flow from operating activities

 

(191,404)

(245,688)

Cash flows from investing activities

 

Interest received

5

1,297

48

Dividend income

 

430,000

325,000

Net cash flows from investing activities

 

431,297

325,048

Cash flows from financing activities

 

Interest paid

6

(24,319)

(26,466)

Dividends paid

18

(65,000)

(147,000)

Net cash flows from financing activities

 

(89,319)

(173,466)

Net increase/(decrease) in cash and cash equivalents

 

150,574

(94,106)

Cash and cash equivalents at 1 May

 

13,777

107,883

Cash and cash equivalents at 30 April

14

164,351

13,777

 

List Group PLC

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a public company limited by share capital, incorporated in England.

The address of its registered office is:
31-33 Midland Road
Scunthorpe
North Lincolnshire
DN16 1DQ

Registration number: 01243960.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has taken advantage of the exemption in section 399 of the Companies Act 2006 from the requirement to prepare consolidated financial statements on the grounds that it would be subject to the small companies regime but for being a public company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts. The company recognises revenue when: the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

List Group PLC

Notes to the Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

over 50 years

Motor vehicles

25% on reducing balance

Furniture, fittings and equipment

10-25% on reducing balance

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

List Group PLC

Notes to the Financial Statements for the Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Turnover

The analysis of the company's Turnover for the year from continuing operations is as follows:

2024
£

2023
£

Management charges

66,000

66,000

Interest charges

50,000

50,000

116,000

116,000

The analysis of the company's Turnover for the year by market is as follows:

2024
£

2023
£

UK

116,000

116,000

4

Operating loss

Arrived at after charging

2024
£

2023
£

Depreciation expense

1,534

2,617

5

Other interest receivable and similar income

2024
£

2023
£

Interest income on bank deposits

1,297

48

6

Interest payable and similar expenses

2024
£

2023
£

Interest expense on other finance liabilities

24,319

26,466

 

List Group PLC

Notes to the Financial Statements for the Year Ended 30 April 2024

7

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2024
£

2023
£

Wages and salaries

299,674

285,430

Social security costs

35,078

34,523

Pension costs, defined contribution scheme

48,044

48,038

382,796

367,991

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
No.

2023
No.

Administration and support

6

6

6

6

8

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

216,000

210,080

Contributions paid to money purchase schemes

48,044

48,038

264,044

258,118

During the year the number of directors who were receiving benefits and share incentives was as follows:

2024
No.

2023
No.

Accruing benefits under money purchase pension scheme

2

2

In respect of the highest paid director:

2024
£

2023
£

Remuneration

128,477

125,681

9

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

7,380

7,175


 

 

List Group PLC

Notes to the Financial Statements for the Year Ended 30 April 2024

10

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Deferred taxation

Arising from origination and reversal of timing differences

416

(1,008)

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of 19% (2023 - 19%).

The differences are reconciled below:

2024
£

2023
£

Profit before tax

5,254

14,667

Corporation tax at standard rate

998

2,787

Effect of revenues exempt from taxation

(81,700)

(61,750)

Effect of expense not deductible in determining taxable loss

1,900

-

Deferred tax expense/(credit) from unrecognised temporary difference from a prior period

416

(1,008)

Tax decrease from effect of capital allowances and depreciation

(354)

(226)

Tax increase arising from group relief

79,156

59,189

Total tax charge/(credit)

416

(1,008)

Deferred tax

Deferred tax assets and liabilities

2024

Asset
£

Excess of taxation allowances over depreciation on fixed assets

7,531

7,531

2023

Asset
£

Excess of taxation allowances over depreciation on fixed assets

7,946

7,946

There are £526,483 of unused tax losses (2023 - £252,669) for which no deferred tax asset is recognised in the balance sheet.

 

List Group PLC

Notes to the Financial Statements for the Year Ended 30 April 2024

11

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

312,435

80,950

393,385

At 30 April 2024

312,435

80,950

393,385

Depreciation

At 1 May 2023

304,829

80,950

385,779

Charge for the year

1,534

-

1,534

At 30 April 2024

306,363

80,950

387,313

Carrying amount

At 30 April 2024

6,072

-

6,072

At 30 April 2023

7,606

-

7,606

12

Investments

2024
£

2023
£

Investments in subsidiaries

51,462

151,462

Subsidiaries

£

Cost or valuation

At 1 May 2023 and 30 April 2022

211,800

Provision

At 1 May 2023 and 30 April 2022

60,338

Provision

100,000

At 30 April 2024

160,338

Carrying amount

At 30 April 2024

51,462

At 30 April 2023

151,462

 

List Group PLC

Notes to the Financial Statements for the Year Ended 30 April 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Apollo Recruitment Limited

**

Ordinary

100%

100%

Apollo Site Services Limited

**

Ordinary

100%

100%

List Design Limited

**

Ordinary

100%

100%

List PEC (UK) Limited

**

Ordinary

100%

100%

List Recruitment Limited

**

Ordinary

100%

100%

** the registered address of all subsidiary companies is 31-33 Midland Road, Scunthorpe, North
Lincolnshire, DN16 1DQ

Subsidiary undertakings

Apollo Recruitment Limited

The principal activity of Apollo Recruitment Limited is recruitment consultants.

Apollo Site Services Limited

The principal activity of Apollo Site Services Limited is cleaning and catering site services.

List Design Limited

The principal activity of List Design Limited is consultant and design engineers.

List PEC (UK) Limited

The principal activity of List PEC (UK) Limited is consultant and design engineers.

List Recruitment Limited

The principal activity of List Recruitment Limited is that of a dormant recruitment company.

 

List Group PLC

Notes to the Financial Statements for the Year Ended 30 April 2024

13

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

 

1,291,484

1,478,941

Other debtors

 

5,320

20,000

Deferred tax assets

10

7,530

7,946

Total current trade and other debtors

 

1,304,334

1,506,887

14

Cash and cash equivalents

2024
£

2023
£

Cash at bank

2,789

3,512

Short-term deposits

161,562

10,265

164,351

13,777

15

Creditors

Note

2024
£

2023
£

Due within one year

 

Amounts due to related parties

19

593,886

695,842

Social security and other taxes

 

13,815

4,154

Other payables

 

150

1,206

Accrued expenses

 

5,850

5,850

 

613,701

707,052

16

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £48,044 (2023 - £48,038).

 

List Group PLC

Notes to the Financial Statements for the Year Ended 30 April 2024

17

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

50,000

50,000

50,000

50,000

A shares of £1 each

375

375

375

375

B shares of £1 each

75

75

75

75

C shares of £1 each

25

25

25

25

D shares of £1 each

25

25

25

25

 

50,500

50,500

50,500

50,500

18

Dividends

Final dividends paid

 

2024
£

2023
£

Final dividend of £140 (2023 - £487) per each B share

10,500

36,500

Final dividend of £1,380 (2023 - £1,920) per each C share

34,500

48,000

Final dividend of £800 (2023 - £2,500) per each D share

20,000

62,500

 

65,000

147,000

19

Related party transactions

Summary of transactions with other related parties

List Group Pension Fund
 At the balance sheet date the amount owed by the company to the List Group Pension Fund was £593,886 (2023 £695,841). Interest of £24,319 (2023 - £26,466) was paid on this balance.