Company registration number 03043104 (England and Wales)
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
COMPANY INFORMATION
Director
T Hemming
Company number
03043104
Registered office
Forest Gate
Spring Lane
Ringwood
Dorset
BH24 3FH
Auditor
Simpson Wreford LLP
Wellesley House
Duke of Wellington Avenue
Royal Arsenal
London
SE18 6SS
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
CONTENTS
Page
Strategic report
1
Director's report
2
Director's 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 - 29
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -

The director presents the strategic report for the year ended 31 January 2024.

Review of the business

This year has been a challenging year although we have managed to continue to maintain turnover with just a slight fall in revenue.

 

Our focus was to costs and we managed to reduce these significantly over the year , seeing the fruits of our investments in IT and accounting and stock management systems .

 

The increase in our own brands investment has enabled us to maintain margin and these now account for the majority of sales through all our sales channels , retail , online and wholesale.

 

We aim to continue to expand the brands moving in to next year and promote through our wholesale division .  I am excited that we have created some new and unique items that I envisage will perform well in the coming year.

 

Again our on line sales have continued to increase, with European sales now performing well,  the upgrade of our own sites has seen an uplift in  sales.  We will continue to build new sites in house for both the US and European markets for our own brand items.

Principal risks and uncertainties

Concerns over exchange rate fluctuations are always present but we constantly try to mitigate risk with forward buying and strategic management, close monitoring of costs and overheads is always key and we have been able to manage this successfully. The implementation of large solar panels at our Head Quarters is an example of our desire to reduce our carbon foot print.

Development and performance

Retail stores have continued to perform strongly throughout the year and we saw some excellent results throughout the country in the summer with the large Pride Events which we participate fully in and of course Christmas which again saw very encouraging numbers throughout the country.

 

I forecast that we will continue to achieve our aims and targets for the business in 2024/5 with a stable and experienced team.

Key performance indicators

The key performance indicator for the group is the level of cash held, turnover and profitability. The business is in a positive cash position at 31 January 2024, with £2,065,158 of cash freely available. Current assets cover current liabilities 2.0 times in 2024, maintaining similar figures in 2023. The group has a gross profit margin of 50.7% for 2024 a 6.7% increase on 2023 which stood at 47.5%. Turnover has decreased this year for the group from £14,687,670 in 2023 to £13,912,269, a fall of 5.3%.

On behalf of the board

T Hemming
Director
24 October 2024
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -

The director presents his annual report and financial statements for the year ended 31 January 2024.

Principal activities

The principal activity of the company and group continued to be that of a holding company. The principal activity of the group is the wholesale and retail of adult products.

Results and dividends

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

No ordinary dividends were paid. The director does not recommend payment of a further dividend.

Director

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

T Hemming
Auditor

Simpson Wreford LLP were appointed as auditor to the group and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

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

Medium-sized companies exemption

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

On behalf of the board
T Hemming
Director
24 October 2024
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -

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

 

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

 

 

The director is 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. He is 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.

ABS WHOLESALE LIMITED
GROUP ACCOUNTS
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ABS WHOLESALE LIMITED
- 4 -
Opinion

We have audited the financial statements of ABS Wholesale Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2024 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 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 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 director 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 director is 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:

ABS WHOLESALE LIMITED
GROUP ACCOUNTS
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ABS WHOLESALE LIMITED
- 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 director's 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 director

As explained more fully in the director's responsibilities statement, the director is 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 director determines 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 director is 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 director either intends to liquidate the parent company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

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

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

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

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.

ABS WHOLESALE LIMITED
GROUP ACCOUNTS
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ABS WHOLESALE LIMITED
- 6 -

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.

Michael Broder BSc FCA (Senior Statutory Auditor)
For and on behalf of Simpson Wreford LLP
30 October 2024
Chartered Accountants
Statutory Auditor
Wellesley House
Duke of Wellington Avenue
Royal Arsenal
London
SE18 6SS
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
13,912,269
14,687,670
Cost of sales
(6,857,555)
(7,715,747)
Gross profit
7,054,714
6,971,923
Administrative expenses
(5,147,658)
(5,194,542)
Other operating income
23,041
18,800
Operating profit
5
1,930,097
1,796,181
Interest receivable and similar income
7
19,866
-
0
Interest payable and similar expenses
8
(57,378)
(42,913)
Profit before taxation
1,892,585
1,753,268
Tax on profit
9
(479,595)
(344,296)
Profit for the financial year
1,412,990
1,408,972
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.
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
GROUP BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
11
23,894
23,014
Tangible assets
12
273,063
301,444
296,957
324,458
Current assets
Stocks
15
3,820,151
3,543,162
Debtors
16
3,110,206
3,149,991
Cash at bank and in hand
2,065,158
971,608
8,995,515
7,664,761
Creditors: amounts falling due within one year
17
(4,496,120)
(3,815,692)
Net current assets
4,499,395
3,849,069
Total assets less current liabilities
4,796,352
4,173,527
Creditors: amounts falling due after more than one year
18
-
(784,340)
Provisions for liabilities
Deferred tax liability
20
33,922
39,747
(33,922)
(39,747)
Net assets
4,762,430
3,349,440
Capital and reserves
Called up share capital
22
9
9
Capital redemption reserve
1
1
Profit and loss reserves
4,762,420
3,349,430
Total equity
4,762,430
3,349,440

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

The financial statements were approved and signed by the director and authorised for issue on 24 October 2024
24 October 2024
T Hemming
Director
Company registration number 03043104 (England and Wales)
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
COMPANY BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
13
293,345
293,345
Current assets
Debtors
16
877
877
Creditors: amounts falling due within one year
17
(286,970)
(286,970)
Net current liabilities
(286,093)
(286,093)
Net assets
7,252
7,252
Capital and reserves
Called up share capital
22
9
9
Capital redemption reserve
1
1
Profit and loss reserves
7,242
7,242
Total equity
7,252
7,252

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £0 (2023 - £30,000 profit).

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

The financial statements were approved and signed by the director and authorised for issue on 24 October 2024
24 October 2024
T Hemming
Director
Company registration number 03043104 (England and Wales)
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
- 10 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 February 2022
9
1
1,962,758
1,962,768
Year ended 31 January 2023:
Profit and total comprehensive income
-
-
1,408,972
1,408,972
Dividends
10
-
-
(22,300)
(22,300)
Balance at 31 January 2023
9
1
3,349,430
3,349,440
Year ended 31 January 2024:
Profit and total comprehensive income
-
-
1,412,990
1,412,990
Balance at 31 January 2024
9
1
4,762,420
4,762,430
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
- 11 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 February 2022
9
1
(458)
(448)
Year ended 31 January 2023:
Profit and total comprehensive income for the year
-
-
30,000
30,000
Dividends
10
-
-
(22,300)
(22,300)
Balance at 31 January 2023
9
1
7,242
7,252
Year ended 31 January 2024:
Profit and total comprehensive income
-
-
-
-
0
Balance at 31 January 2024
9
1
7,242
7,252
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2024
- 12 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
1,680,860
1,036,310
Interest paid
(57,378)
(42,913)
Income taxes paid
(410,999)
(342,594)
Net cash inflow from operating activities
1,212,483
650,803
Investing activities
Purchase of intangible assets
(15,305)
(15,900)
Purchase of tangible fixed assets
(43,821)
(127,056)
Interest received
19,866
-
0
Net cash used in investing activities
(39,260)
(142,956)
Financing activities
Repayment of bank loans
(79,673)
(183,820)
Dividends paid to equity shareholders
-
0
(22,300)
Net cash used in financing activities
(79,673)
(206,120)
Net increase in cash and cash equivalents
1,093,550
301,727
Cash and cash equivalents at beginning of year
971,608
669,881
Cash and cash equivalents at end of year
2,065,158
971,608
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2024
- 13 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
26
-
0
(7,700)
Investing activities
Dividends received
-
0
30,000
Net cash (used in)/generated from investing activities
-
30,000
Financing activities
Dividends paid to equity shareholders
-
(22,300)
Net cash used in financing activities
-
(22,300)
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
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 14 -
1
Accounting policies
Company information

ABS Wholesale Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is .

 

The group consists of ABS Wholesale Limited and all of its subsidiaries.

1.1
Accounting convention

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

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

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

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

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

 

All financial statements are made up to 31 January 2024. 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.

1.4
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 15 -
1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Retail income from the group's shops is recognised at the point of sale.

Wholesale and online sales are recognised at despatch to the customer.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 3 years.

1.7
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation 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:

Website costs
2 years
Trademarks, patents and licences
3 - 10 years straight line
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
Over the length of the lease
Plant and equipment
4 years straight line
Fixtures and fittings
3-5 years straight line
Motor vehicles
4 years straight line

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.

ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 16 -
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.

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.

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.

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.

Cost is determined using the average (AVCO) method.

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.

ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 17 -
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.

Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

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

 

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

 

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

Derecognition of financial liabilities

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

ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 18 -
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.

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 period in which the employee’s services are received.

 

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

1.17
Retirement benefits

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

ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 19 -
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.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.19
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the director is 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.

Depreciation and amortisation - The company establishes a reliable estimate of the useful lives of tangible and intangible fixed assets. The carrying amount is £296,957 (2023: £324,802).

Stock provision - the group establishes a reliable estimate of obsolete stock at the year end and a provision of £445,204 (2023: £465,624) has been made against the total stock figure in the accounts. The carrying amount is £3,820,151(2023: £3,543,162).

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Sales of goods
13,912,269
14,687,670
2024
2023
£
£
Other revenue
Interest income
19,866
-
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
3
Turnover and other revenue
(Continued)
- 20 -

All turnover arises from the group's principal activity, being the wholesale and retail of adult products. The analysis of turnover by geographical market has not been disclosed as the directors believe that these disclosures would be seriously prejudicial to the group's interests.

4
Exceptional item
2024
2023
£
£
Income
Exceptional item - Other operating income
4,241
-
4,241
-
5
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange losses/(gains)
13,888
(25,634)
Fees payable to the group's auditor for the audit of the group's financial statements
-
-
Depreciation of owned tangible fixed assets
72,202
55,892
Amortisation of intangible assets
14,425
9,744
Operating lease charges
1,189,636
1,142,684
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
113
111
-
0
-
0

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
2,287,788
2,233,075
-
0
-
0
Social security costs
196,590
190,461
-
-
Pension costs
35,355
34,705
-
0
-
0
2,519,733
2,458,241
-
0
-
0
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 21 -
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
19,866
-
0
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
19,866
-
8
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
57,378
37,831
Other finance costs:
Other interest
-
5,082
Total finance costs
57,378
42,913
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
485,948
319,009
Deferred tax
Origination and reversal of timing differences
(6,353)
25,287
Total tax charge
479,595
344,296
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
9
Taxation
(Continued)
- 22 -

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:

2024
2023
£
£
Profit before taxation
1,892,585
1,753,268
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
473,146
333,121
Tax effect of expenses that are not deductible in determining taxable profit
15,954
14,297
Tax effect of income not taxable in determining taxable profit
16,461
-
0
Effect of change in corporation tax rate
(19,613)
(18,721)
Permanent capital allowances in excess of depreciation
-
0
(14,298)
Depreciation on assets not qualifying for tax allowances
-
0
1,586
Amortisation on assets not qualifying for tax allowances
-
0
1,851
Other non-reversing timing differences
-
0
496
(6,353)
25,964
Taxation charge
479,595
344,296
10
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Interim paid
-
22,300
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 23 -
11
Intangible fixed assets
Group
Goodwill
Website costs
Trademarks, patents and licences
Total
£
£
£
£
Cost
At 1 February 2023
2,616,633
276,873
72,490
2,965,996
Additions
-
0
5,785
9,520
15,305
At 31 January 2024
2,616,633
282,658
82,010
2,981,301
Amortisation and impairment
At 1 February 2023
2,616,633
263,700
62,649
2,942,982
Amortisation charged for the year
-
0
12,180
2,245
14,425
At 31 January 2024
2,616,633
275,880
64,894
2,957,407
Carrying amount
At 31 January 2024
-
0
6,778
17,116
23,894
At 31 January 2023
-
0
13,173
9,841
23,014
The company had no intangible fixed assets at 31 January 2024 or 31 January 2023.
12
Tangible fixed assets
Group
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2023
217,903
237,659
838,678
8,300
1,302,540
Additions
17,181
5,130
3,520
17,990
43,821
At 31 January 2024
235,084
242,789
842,198
26,290
1,346,361
Depreciation and impairment
At 1 February 2023
82,317
172,379
738,100
8,300
1,001,096
Depreciation charged in the year
9,849
18,368
40,612
3,373
72,202
At 31 January 2024
92,166
190,747
778,712
11,673
1,073,298
Carrying amount
At 31 January 2024
142,918
52,042
63,486
14,617
273,063
At 31 January 2023
135,586
65,280
100,578
-
0
301,444
The company had no tangible fixed assets at 31 January 2024 or 31 January 2023.
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 24 -
13
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
293,345
293,345
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 February 2023 and 31 January 2024
293,345
Carrying amount
At 31 January 2024
293,345
At 31 January 2023
293,345
14
Subsidiaries

The principal activity of Simply Pleasure Limited is wholesale and retail of adult products.

For the year ending 31 January 2024 the subsidiary of Simply Pleasure Limited, Pleasure Me Publishing Limited, was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

Details of the company's subsidiaries at 31 January 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Simply Pleasure Limited
England and Wales
Ordinary
100.00
-
Pleasure Me Publishing Limited
England and Wales
Ordinary
0
100.00
Simply Pleasure BV
Netherlands
Ordinary
100.00
-
15
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Finished goods and goods for resale
3,820,151
3,543,162
-
0
-
0
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 25 -
16
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
769,596
945,452
-
0
-
0
Other debtors
1,567,192
1,460,792
877
877
Prepayments and accrued income
773,418
743,747
-
0
-
0
3,110,206
3,149,991
877
877
17
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
19
809,547
104,880
-
0
-
0
Trade creditors
2,324,078
2,018,595
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
264,670
264,670
Corporation tax payable
322,614
248,193
-
0
-
0
Other taxation and social security
401,692
307,765
-
-
Other creditors
528,675
811,382
22,300
22,300
Accruals and deferred income
109,514
324,877
-
0
-
0
4,496,120
3,815,692
286,970
286,970
18
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
19
-
0
784,340
-
0
-
0
19
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
809,547
889,220
-
0
-
0
Payable within one year
809,547
104,880
-
0
-
0
Payable after one year
-
0
784,340
-
0
-
0

The loans are secured by a cross guarantee between Simply Pleasure Limited and the parent company ABS Wholesale Limited as well as a first legal charge over properties held by the director T Hemming.

ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
19
Loans and overdrafts
(Continued)
- 26 -

Barclay's £1m Term Loan is denominated in pounds with a nominal interest rate of 2.1% (over fixed marginal rate), and the final instalment is due on 22 November 2024. The carrying amount at the year end is £809,547 (2023: £855,887)

 

The Barclay's £250k CBIL is denominated in pounds with a nominal interest rate of 3.84% (over fixed marginal rate) and the final instalment was paid May 2023. The carrying amount at the year end is £Nil (2023: £33,333).

 

Some of the Group's loan agreements (classified as non-current during the year) are subjected to covenant clauses, whereby the Group is required to meet certain key financial ratios. The Group fulfilled all of the covenant clauses during the year.

 

Other bank guarantees

The group acts as a guarantor for a loan in One on One Adult Centre Limited, a company owned by Tim Hemming, for £2,000,000.

20
Deferred taxation

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

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
33,922
39,747
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 February 2023
39,747
-
Credit to profit or loss
(5,825)
-
Liability at 31 January 2024
33,922
-

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
35,355
34,705

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.

ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 27 -
22
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary "A" shares of 1p each
810
810
9
9
Ordinary "B" shares of 1p each
90
90
-
-
23
Operating lease commitments
Lessee

The amount of non-cancellable operating lease payments recognised as an expense during the year was £1,189,636(2023 - £1,139,504).

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
2024
2023
2024
2023
£
£
£
£
Within one year
575,038
547,114
-
-
Between two and five years
1,586,847
897,047
-
-
In over five years
-
252,367
-
-
2,161,885
1,696,528
-
-
24
Related party transactions
Transactions with related parties

During the year the group entered into the following transactions with related parties:

Leases
2024
2023
£
£
Group
Entities over which the entity has control, joint control or significant influence
178,000
178,000

The following amounts were outstanding at the reporting end date:

Amounts due to related parties
2024
2023
£
£
Group
Entities over which the group has control, joint control or significant influence
1,037,100
823,500
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
24
Related party transactions
(Continued)
- 28 -

The following amounts were outstanding at the reporting end date:

Amounts due from related parties
2024
2023
Balance
Balance
£
£
Group
Entities over which the group has control, joint control or significant influence
1,525,325
1,418,925
25
Cash generated from group operations
2024
2023
£
£
Profit for the year after tax
1,412,990
1,408,972
Adjustments for:
Taxation charged
479,595
344,296
Finance costs
57,378
42,913
Investment income
(19,866)
-
0
Amortisation and impairment of intangible assets
14,425
9,744
Depreciation and impairment of tangible fixed assets
72,202
55,892
Movements in working capital:
Increase in stocks
(276,989)
(971,032)
Decrease/(increase) in debtors
39,785
(156,632)
(Decrease)/increase in creditors
(98,660)
302,157
Cash generated from operations
1,680,860
1,036,310
26
Cash absorbed by operations - company
2024
2023
£
£
Profit for the year after tax
-
30,000
Adjustments for:
Investment income
-
0
(30,000)
Movements in working capital:
Decrease in creditors
-
(7,700)
Cash absorbed by operations
-
(7,700)
ABS WHOLESALE LIMITED
GROUP ACCOUNTS
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 29 -
27
Analysis of changes in net funds - group
1 February 2023
Cash flows
31 January 2024
£
£
£
Cash at bank and in hand
971,608
1,093,550
2,065,158
Borrowings excluding overdrafts
(889,220)
79,673
(809,547)
82,388
1,173,223
1,255,611
28
Analysis of changes in net funds - company
1 February 2023
31 January 2024
£
£
2024-01-312023-02-01falseCCH SoftwareCCH Accounts Production 2024.210T Hemmingfalsefalse03043104bus:Consolidated2023-02-012024-01-31030431042023-02-012024-01-3103043104bus:Director12023-02-012024-01-3103043104bus:RegisteredOffice2023-02-012024-01-31030431042024-01-3103043104bus:Consolidated2022-02-012023-01-3103043104dpl:Item12023-02-012024-01-3103043104dpl:Item12022-02-012023-01-31030431042022-02-012023-01-3103043104bus:Consolidated2024-01-3103043104core:OtherResidualIntangibleAssetsbus:Consolidated2024-01-3103043104core:OtherResidualIntangibleAssetsbus:Consolidated2023-01-3103043104core:Goodwillbus:Consolidated2024-01-3103043104core:DevelopmentCostsCapitalisedDevelopmentExpenditurebus:Consolidated2024-01-3103043104core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2024-01-3103043104core:Goodwillbus:Consolidated2023-01-3103043104core:DevelopmentCostsCapitalisedDevelopmentExpenditurebus:Consolidated2023-01-3103043104core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2023-01-3103043104bus:Consolidated2023-01-3103043104core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2024-01-3103043104core:PlantMachinerybus:Consolidated2024-01-3103043104core:FurnitureFittingsbus:Consolidated2024-01-3103043104core:MotorVehiclesbus:Consolidated2024-01-3103043104core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-01-3103043104core:PlantMachinerybus:Consolidated2023-01-3103043104core:FurnitureFittingsbus:Consolidated2023-01-3103043104core:MotorVehiclesbus:Consolidated2023-01-31030431042023-01-3103043104core:AfterOneYearbus:Consolidated2023-01-3103043104core:CurrentFinancialInstruments2024-01-3103043104core:CurrentFinancialInstruments2023-01-3103043104core:ShareCapitalbus:Consolidated2024-01-3103043104core:ShareCapitalbus:Consolidated2023-01-3103043104core:CapitalRedemptionReservebus:Consolidated2024-01-3103043104core:CapitalRedemptionReservebus:Consolidated2023-01-3103043104core:ShareCapital2024-01-3103043104core:ShareCapital2023-01-3103043104core:CapitalRedemptionReserve2024-01-3103043104core:CapitalRedemptionReserve2023-01-3103043104core:RetainedEarningsAccumulatedLosses2024-01-3103043104core:ShareCapitalbus:Consolidated2022-01-3103043104core:CapitalRedemptionReservebus:Consolidated2022-01-31030431042022-01-3103043104core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-01-3103043104core:RetainedEarningsAccumulatedLossesbus:Consolidated2024-01-3103043104core:ShareCapital2022-01-3103043104core:CapitalRedemptionReserve2022-01-3103043104core:RetainedEarningsAccumulatedLosses2022-01-3103043104core:RetainedEarningsAccumulatedLosses2023-01-3103043104bus:Consolidated2022-01-3103043104core:Goodwill2023-02-012024-01-3103043104core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3103043104core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-02-012024-01-3103043104core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-02-012024-01-3103043104core:LandBuildingscore:LongLeaseholdAssets2023-02-012024-01-3103043104core:PlantMachinery2023-02-012024-01-3103043104core:FurnitureFittings2023-02-012024-01-3103043104core:MotorVehicles2023-02-012024-01-3103043104core:UKTaxbus:Consolidated2023-02-012024-01-3103043104core:UKTaxbus:Consolidated2022-02-012023-01-3103043104bus:Consolidated12023-02-012024-01-3103043104bus:Consolidated12022-02-012023-01-3103043104bus:Consolidated22023-02-012024-01-3103043104bus:Consolidated22022-02-012023-01-3103043104core:Goodwillbus:Consolidated2023-01-3103043104core:DevelopmentCostsCapitalisedDevelopmentExpenditurebus:Consolidated2023-01-3103043104core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2023-01-3103043104bus:Consolidated2023-01-3103043104core:Goodwillcore:ExternallyAcquiredIntangibleAssetsbus:Consolidated2023-02-012024-01-3103043104core:DevelopmentCostsCapitalisedDevelopmentExpenditurecore:ExternallyAcquiredIntangibleAssetsbus:Consolidated2023-02-012024-01-3103043104core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillcore:ExternallyAcquiredIntangibleAssetsbus:Consolidated2023-02-012024-01-3103043104core:ExternallyAcquiredIntangibleAssetsbus:Consolidated2023-02-012024-01-3103043104core:Goodwillbus:Consolidated2023-02-012024-01-3103043104core:DevelopmentCostsCapitalisedDevelopmentExpenditurebus:Consolidated2023-02-012024-01-3103043104core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2023-02-012024-01-3103043104core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-01-3103043104core:PlantMachinerybus:Consolidated2023-01-3103043104core:FurnitureFittingsbus:Consolidated2023-01-3103043104core:MotorVehiclesbus:Consolidated2023-01-3103043104core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-02-012024-01-3103043104core:PlantMachinerybus:Consolidated2023-02-012024-01-3103043104core:FurnitureFittingsbus:Consolidated2023-02-012024-01-3103043104core:MotorVehiclesbus:Consolidated2023-02-012024-01-3103043104core:Subsidiary12023-02-012024-01-3103043104core:Subsidiary22023-02-012024-01-3103043104core:Subsidiary32023-02-012024-01-3103043104core:Subsidiary112023-02-012024-01-3103043104core:Subsidiary212023-02-012024-01-3103043104core:Subsidiary312023-02-012024-01-3103043104core:CurrentFinancialInstrumentsbus:Consolidated2024-01-3103043104core:CurrentFinancialInstrumentsbus:Consolidated2023-01-3103043104core:WithinOneYearbus:Consolidated2024-01-3103043104core:WithinOneYearbus:Consolidated2023-01-3103043104core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3103043104core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3103043104core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2024-01-3103043104core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2023-01-3103043104core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-3103043104core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-3103043104core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2024-01-3103043104core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-01-3103043104dpl:Item1bus:Consolidated2023-02-012024-01-3103043104dpl:Item1bus:Consolidated2022-02-012023-01-3103043104bus:PrivateLimitedCompanyLtd2023-02-012024-01-3103043104bus:FRS1022023-02-012024-01-3103043104bus:Audited2023-02-012024-01-3103043104bus:ConsolidatedGroupCompanyAccounts2023-02-012024-01-3103043104bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP