Company registration number 09538757 (England and Wales)
VIGOS ENTERPRISES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Richard Anthony
Chartered Accountants and Registered Auditors
VIGOS ENTERPRISES LIMITED
COMPANY INFORMATION
Director
Mr S Londos
Company number
09538757
Registered office
3rd Floor, New Hibernia House
Winchester Walk
London
SE1 9AG
Auditor
Richard Anthony
Ground Floor Cooper House
316 Regents Park Road
London
United Kingdom
N3 2JX
VIGOS ENTERPRISES LIMITED
CONTENTS
Page
Strategic report
1 - 2
Director's report
3
Director's responsibilities statement
4
Independent auditor's report
5 - 8
Profit and loss account
9
Group statement of comprehensive income
10
Group balance sheet
11
Company balance sheet
12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Company statement of cash flows
16
Notes to the financial statements
17 - 31
VIGOS ENTERPRISES LIMITED
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

The financial position of the group at the period end was considered satisfactory in the circumstances by the director. Following a movement in sales revenue in the subsidiary companies, the group returned a gross profit margin in line with expectations, which in turn led to a profit before taxation of £3,862,721.

 

Key Highlights:

 

Principal risks and uncertainties

We acknowledge several principal risks within our business:

VIGOS ENTERPRISES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -

Results and Performance Including Key Performance Indicators

Financial Overview:

    Year    Turnover    Cash at Bank    Net Current Assets    Net Assets

    2024    £22.2m        £7.0m        £9.21m            £9.37m

    2023    £17.1m        £3.7m        £7.58m            £7.11m

Key performance indicators

 

This strategic report outlines our robust position in the market and our commitment to sustainable growth while proactively managing risks and enhancing our operational capabilities. We look forward to continuing this trajectory in the coming year.

On behalf of the board

Mr S Londos
Director
30 October 2024
VIGOS ENTERPRISES LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -

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 specialised construction activities.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £150,000. 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:

Mr S Londos
Energy and carbon report

The group did not consume more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

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.

On behalf of the board
Mr S Londos
Director
30 October 2024
VIGOS ENTERPRISES LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -

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.

VIGOS ENTERPRISES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF VIGOS ENTERPRISES LIMITED
- 5 -
Opinion

We have audited the financial statements of Vigos Enterprises Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2024 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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:

VIGOS ENTERPRISES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VIGOS ENTERPRISES LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the 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.

The group is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant:

 

 

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

 

We understood how the group is complying with those legal and regulatory frameworks by making inquiries of management and those responsible for legal and compliance procedures.

 

The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with these laws and regulations. The assessment did not identify any issues in this area.

 

VIGOS ENTERPRISES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VIGOS ENTERPRISES LIMITED
- 7 -

We assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

 

As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential existed within the recording and recognition of revenue

 

Based on our understanding of the company and industry, we identified the principal risk to the audit as follows:

 

- Management override of control;

 

- Revenue recognition and the related estimation;

 

- Identification and disclosure of related party transactions;

 

- Estimation and recognition of project costs

 

We focussed on those areas that could give rise to a material misstatement in the company financial statements. Our procedures included but were not limited to:

 

- Enquiry of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud;

 

- Reviewing minutes of meetings with those charged with governance where available;

 

- Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud;

 

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

 

- Performing audit work over the risk of management of controls, including testing of journal entries and other adjustments for appropriateness.

 

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. The risk is also greater regarding irregularities occurring to fraud other than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

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

VIGOS ENTERPRISES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VIGOS ENTERPRISES LIMITED
- 8 -
Michael Barnett BA FCA
For and on behalf of
30 October 2024
Richard Anthony
Chartered Accountants
Statutory Auditor
Ground Floor Cooper House
316 Regents Park Road
London
United Kingdom
N3 2JX
VIGOS ENTERPRISES LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2024
- 9 -
2024
2023
Notes
£
£
Turnover
3
22,246,874
17,097,552
Cost of sales
(16,819,802)
(12,878,057)
Gross profit
5,427,072
4,219,495
Administrative expenses
(1,558,110)
(1,305,775)
Other operating income
-
6,460
Operating profit
4
3,868,962
2,920,180
Interest receivable and similar income
7
26,569
2,354
Interest payable and similar expenses
8
(32,810)
(37,224)
Profit before taxation
3,862,721
2,885,310
Tax on profit
9
(933,547)
(370,848)
Profit for the financial year
2,929,174
2,514,462
Profit for the financial year is attributable to:
- Owners of the parent company
2,378,869
2,045,120
- Non-controlling interests
550,305
469,342
2,929,174
2,514,462
VIGOS ENTERPRISES LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024
- 10 -
2024
2023
£
£
Profit for the year
2,929,174
2,514,462
Other comprehensive income
-
-
Cash flow hedges gain arising in the year
-
0
-
0
Total comprehensive income for the year
2,929,174
2,514,462
Total comprehensive income for the year is attributable to:
- Owners of the parent company
2,378,869
2,045,120
- Non-controlling interests
550,305
469,342
2,929,174
2,514,462
VIGOS ENTERPRISES LIMITED
GROUP BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
9,011
2,839
Investments
12
153,434
97,891
162,445
100,730
Current assets
Debtors
14
8,313,248
9,051,760
Cash at bank and in hand
6,996,667
3,677,292
15,309,915
12,729,052
Creditors: amounts falling due within one year
15
(6,097,946)
(5,147,579)
Net current assets
9,211,969
7,581,473
Total assets less current liabilities
9,374,414
7,682,203
Creditors: amounts falling due after more than one year
16
-
(572,727)
Net assets
9,374,414
7,109,476
Capital and reserves
Called up share capital
19
1
1
Profit and loss reserves
9,069,729
6,840,860
Equity attributable to owners of the parent company
9,069,730
6,840,861
Non-controlling interests
304,684
268,615
9,374,414
7,109,476
The financial statements were approved and signed by the director and authorised for issue on 30 October 2024
30 October 2024
Mr S Londos
Director
Company registration number 09538757 (England and Wales)
VIGOS ENTERPRISES LIMITED
COMPANY BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 12 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
12
258
258
Current assets
Debtors
14
5,564,333
4,883,353
Cash at bank and in hand
1,542,031
329,363
7,106,364
5,212,716
Creditors: amounts falling due within one year
15
(118,607)
(202,633)
Net current assets
6,987,757
5,010,083
Net assets
6,988,015
5,010,341
Capital and reserves
Called up share capital
19
1
1
Profit and loss reserves
6,988,014
5,010,340
Total equity
6,988,015
5,010,341

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £2,127,674 (2023 - £1,801,317 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 30 October 2024
30 October 2024
Mr S Londos
Director
Company registration number 09538757 (England and Wales)
VIGOS ENTERPRISES LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
- 13 -
Share capital
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
Balance at 1 February 2022
1
5,020,740
5,020,741
234,421
5,255,162
Year ended 31 January 2023:
Profit and total comprehensive income
-
2,045,120
2,045,120
469,342
2,514,462
Dividends
10
-
(225,000)
(225,000)
(435,148)
(660,148)
Balance at 31 January 2023
1
6,840,860
6,840,861
268,615
7,109,476
Year ended 31 January 2024:
Profit and total comprehensive income
-
2,378,869
2,378,869
550,305
2,929,174
Dividends
10
-
(150,000)
(150,000)
(514,236)
(664,236)
Balance at 31 January 2024
1
9,069,729
9,069,730
304,684
9,374,414
VIGOS ENTERPRISES LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
- 14 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 February 2022
1
3,434,023
3,434,024
Year ended 31 January 2023:
Profit and total comprehensive income for the year
-
1,801,317
1,801,317
Dividends
10
-
(225,000)
(225,000)
Balance at 31 January 2023
1
5,010,340
5,010,341
Year ended 31 January 2024:
Profit and total comprehensive income
-
2,127,674
2,127,674
Dividends
10
-
(150,000)
(150,000)
Balance at 31 January 2024
1
6,988,014
6,988,015
VIGOS ENTERPRISES LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2024
- 15 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
23
5,334,137
(1,452,417)
Interest paid
(32,810)
(37,224)
Income taxes paid
(508,543)
(101,492)
Net cash inflow/(outflow) from operating activities
4,792,784
(1,591,133)
Investing activities
Purchase of tangible fixed assets
(7,472)
(3,223)
Proceeds from disposal of investments
(55,543)
(97,891)
Interest received
26,569
2,354
Net cash used in investing activities
(36,446)
(98,760)
Financing activities
Repayment of bank loans
(772,727)
772,727
Dividends paid to equity shareholders
(150,000)
(225,000)
Dividends paid to non-controlling interests
(514,236)
(435,148)
Net cash (used in)/generated from financing activities
(1,436,963)
112,579
Net increase/(decrease) in cash and cash equivalents
3,319,375
(1,577,314)
Cash and cash equivalents at beginning of year
3,677,286
5,254,642
Cash and cash equivalents at end of year
6,996,661
3,677,286
Relating to:
Cash at bank and in hand
6,996,667
3,677,292
Bank overdrafts included in creditors payable within one year
(6)
(6)
VIGOS ENTERPRISES LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2024
- 16 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
24
(772,326)
(4,672,609)
Income taxes paid
(1,102)
-
0
Net cash outflow from operating activities
(773,428)
(4,672,609)
Investing activities
Proceeds from disposal of subsidiaries
-
0
(258)
Interest received
332
-
0
Dividends received
2,135,764
1,793,206
Net cash generated from investing activities
2,136,096
1,792,948
Financing activities
Dividends paid to equity shareholders
(150,000)
(225,000)
Net cash used in financing activities
(150,000)
(225,000)
Net increase/(decrease) in cash and cash equivalents
1,212,668
(3,104,661)
Cash and cash equivalents at beginning of year
329,363
3,434,024
Cash and cash equivalents at end of year
1,542,031
329,363
VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 17 -
1
Accounting policies
Company information

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

 

The group consists of Vigos Enterprises Limited and all of its subsidiaries.

1.1
Accounting convention

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

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Business combinations

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

 

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

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Vigos Enterprises 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.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 18 -

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

 

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

 

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the 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.

1.5
Turnover

Revenue arises from the performance of construction contracts. Where the outcome of a construction contract can be estimated reliably and it is probable that the contract will be profitable, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. Stage of completion is assessed by reference to the proportion of the contract costs incurred for the work performed to date relative to the estimated total costs, except where this would not be representative of the stage of completion. The attributable profit is recognised in profit and loss as the difference between the reported turnover and related costs for that contract.

 

When it is considered probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

 

Variations and claims are included in revenue where it is considered probable that the amount, which can be measured reliably, will be recovered from the customer.

 

When the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is considered likely those costs will be recoverable.

 

Contract costs are recognised as expenses in the period in which they are incurred.

 

1.6
Tangible fixed assets

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

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

Fixtures and fittings
25% Straight line
Computers
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 19 -
1.7
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.8
Impairment of fixed assets

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

 

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

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

 

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

VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 20 -

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

1.9
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.

1.10
Financial instruments

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

 

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

 

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

Basic financial assets

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

Other financial assets

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

Impairment of financial assets

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

 

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

 

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

VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 21 -
Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

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

 

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

 

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

Other financial liabilities

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

 

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

Derecognition of financial liabilities

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

1.11
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.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 22 -
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.

1.13
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.

1.14
Retirement benefits

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

1.15
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 23 -
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.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Construction activities
22,246,874
17,097,552
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
22,246,874
17,097,552
2024
2023
£
£
Other revenue
Interest income
26,569
2,354
Grants received
-
6,460
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange losses/(gains)
9,426
(9,415)
Government grants
-
(6,460)
Depreciation of owned tangible fixed assets
1,300
946
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
25,000
-
Audit of the financial statements of the company's subsidiaries
17,000
-
42,000
-
VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
5
Auditor's remuneration
(Continued)
- 24 -
For other services
All other non-audit services
24,200
23,600
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
17
15
1
1

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
1,031,832
924,389
-
0
-
0
Social security costs
117,069
103,920
-
-
Pension costs
65,534
13,072
-
0
-
0
1,214,435
1,041,381
-
0
-
0
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
15,151
393
Other interest income
11,418
1,961
Total income
26,569
2,354
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
15,151
393
8
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
32,810
37,224
VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 25 -
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
934,676
553,689
Adjustments in respect of prior periods
(1,129)
-
0
Other tax reliefs
-
0
(182,841)
Total current tax
933,547
370,848

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
3,862,721
2,885,310
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
965,680
548,209
Tax effect of expenses that are not deductible in determining taxable profit
7,895
5,397
Tax effect of income not taxable in determining taxable profit
(2,094)
(496)
Tax effect of utilisation of tax losses not previously recognised
-
0
(648)
Unutilised tax losses carried forward
2,787
1,840
Adjustments in respect of prior years
(1,129)
-
0
Effect of change in corporation tax rate
(37,724)
-
Permanent capital allowances in excess of depreciation
(1,868)
(613)
Research and development tax credit
-
0
(182,841)
Taxation charge
933,547
370,848
10
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Final paid
150,000
225,000
VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 26 -
11
Tangible fixed assets
Group
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 February 2023
7,534
3,895
11,429
Additions
-
0
7,472
7,472
At 31 January 2024
7,534
11,367
18,901
Depreciation and impairment
At 1 February 2023
6,671
1,919
8,590
Depreciation charged in the year
288
1,012
1,300
At 31 January 2024
6,959
2,931
9,890
Carrying amount
At 31 January 2024
575
8,436
9,011
At 31 January 2023
863
1,976
2,839
The company had no tangible fixed assets at 31 January 2024 or 31 January 2023.
12
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
258
258
Listed investments
153,434
97,891
-
0
-
0
153,434
97,891
258
258
Movements in fixed asset investments
Group
Investments
£
Cost or valuation
At 1 February 2023
97,891
Additions
49,274
Valuation changes
8,377
Disposals
(2,108)
At 31 January 2024
153,434
Carrying amount
At 31 January 2024
153,434
At 31 January 2023
97,891
VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
12
Fixed asset investments
(Continued)
- 27 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 February 2023 and 31 January 2024
258
Carrying amount
At 31 January 2024
258
At 31 January 2023
258
13
Subsidiaries

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

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Leonari Limited
England and Wales
Ordinary
87.50
Leonari 360 Limited
England and Wales
Ordinary
85.00
Bullion Investments Limited
England and Wales
Ordinary
85.00
14
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
3,651,945
3,766,752
-
0
-
0
Corporation tax recoverable
1,102
3,552
1,102
-
0
Amounts owed by group undertakings
-
-
2,103,643
1,464,008
Other debtors
4,658,214
5,280,331
3,459,588
3,419,345
Prepayments and accrued income
1,987
1,125
-
0
-
0
8,313,248
9,051,760
5,564,333
4,883,353
VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 28 -
15
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
17
6
200,006
-
0
-
0
Trade creditors
2,873,035
2,206,870
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
170
170
Corporation tax payable
695,462
272,908
-
0
1,102
Other taxation and social security
43,817
74,684
-
-
Other creditors
555,172
302,216
117,837
200,761
Accruals and deferred income
1,930,454
2,090,895
600
600
6,097,946
5,147,579
118,607
202,633
16
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
17
-
0
572,727
-
0
-
0
17
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
-
0
772,727
-
0
-
0
Bank overdrafts
6
6
-
0
-
0
6
772,733
-
-
Payable within one year
6
200,006
-
0
-
0
Payable after one year
-
0
572,727
-
0
-
0

The long-term loans are secured by fixed and floating charges over the assets of the company : Leonari Limited.

The CBILS loan carried an interest rate of 2.79% above LIBOR. The loan was repaid during the year.

18
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
65,534
13,072
VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
18
Retirement benefit schemes
(Continued)
- 29 -

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.

19
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
20
Operating lease commitments

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
85,085
-
-
-
Between two and five years
262,345
-
-
-
347,430
-
-
-
21
Related party transactions

As at the balance sheet date, the group was owed from the following companies in which Mr S Londos is a shareholder and director.

 

Do The Evolution Limited    £1,587,543     2023: £1,580,300

Villa Vigos Limited         £1,389,972    2023: £1,389,972

Lamda Developments Limited     £482,073    2023: £449,073

22
Directors' transactions

As at the balance sheet date, the group owed an amount of £117,837 (2023: £200,761) to Mr S Londos, and an amount of £429,797 (2023: £95,268) to Mr J Cunningham, directors in the group company.

VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 30 -
23
Cash generated from/(absorbed by) group operations
2024
2023
£
£
Profit for the year after tax
2,929,174
2,514,462
Adjustments for:
Taxation charged
933,547
370,848
Finance costs
32,810
37,224
Investment income
(26,569)
(2,354)
Depreciation and impairment of tangible fixed assets
1,300
946
Movements in working capital:
Decrease/(increase) in debtors
736,062
(9,048,208)
Increase in creditors
727,813
4,674,665
Cash generated from/(absorbed by) operations
5,334,137
(1,452,417)
24
Cash absorbed by operations - company
2024
2023
£
£
Profit for the year after tax
2,127,674
1,801,317
Adjustments for:
Taxation (credited)/charged
(1,102)
1,102
Investment income
(2,136,096)
(1,793,206)
Movements in working capital:
Increase in debtors
(679,878)
(4,883,353)
(Decrease)/increase in creditors
(82,924)
201,531
Cash absorbed by operations
(772,326)
(4,672,609)
25
Analysis of changes in net funds - group
1 February 2023
Cash flows
31 January 2024
£
£
£
Cash at bank and in hand
3,677,292
3,319,375
6,996,667
Bank overdrafts
(6)
-
(6)
3,677,286
3,319,375
6,996,661
Borrowings excluding overdrafts
(772,727)
772,727
-
2,904,559
4,092,102
6,996,661
VIGOS ENTERPRISES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 31 -
26
Analysis of changes in net funds - company
1 February 2023
Cash flows
31 January 2024
£
£
£
Cash at bank and in hand
329,363
1,212,668
1,542,031
2024-01-312023-02-01falseCCH SoftwareCCH Accounts Production 2024.200Mr S Londosfalsefalse09538757bus:Consolidated2023-02-012024-01-31095387572023-02-012024-01-3109538757bus:Director12023-02-012024-01-3109538757bus:RegisteredOffice2023-02-012024-01-31095387572024-01-3109538757bus:Consolidated2024-01-3109538757bus:Consolidated2022-02-012023-01-31095387572022-02-012023-01-3109538757bus:Consolidated2023-01-3109538757core:FurnitureFittingsbus:Consolidated2024-01-3109538757core:ComputerEquipmentbus:Consolidated2024-01-3109538757core:FurnitureFittingsbus:Consolidated2023-01-3109538757core:ComputerEquipmentbus:Consolidated2023-01-31095387572023-01-3109538757core:ShareCapitalbus:Consolidated2024-01-3109538757core:ShareCapitalbus:Consolidated2023-01-3109538757core:ShareCapital2024-01-3109538757core:ShareCapital2023-01-3109538757core:RetainedEarningsAccumulatedLosses2024-01-3109538757core:ShareCapitalbus:Consolidated2022-01-31095387572022-01-3109538757core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-01-3109538757core:Non-controllingInterestsbus:Consolidated2023-01-3109538757core:RetainedEarningsAccumulatedLossesbus:Consolidated2024-01-3109538757core:Non-controllingInterestsbus:Consolidated2024-01-3109538757core:ShareCapital2022-01-3109538757core:RetainedEarningsAccumulatedLosses2022-01-3109538757core:RetainedEarningsAccumulatedLosses2023-01-3109538757core:FurnitureFittings2023-02-012024-01-3109538757core:ComputerEquipment2023-02-012024-01-3109538757core:UKTaxbus:Consolidated2023-02-012024-01-3109538757core:UKTaxbus:Consolidated2022-02-012023-01-3109538757bus:Consolidated12023-02-012024-01-3109538757bus:Consolidated12022-02-012023-01-3109538757core:FurnitureFittingsbus:Consolidated2023-01-3109538757core:ComputerEquipmentbus:Consolidated2023-01-3109538757bus:Consolidated2023-01-3109538757core:FurnitureFittingsbus:Consolidated2023-02-012024-01-3109538757core:ComputerEquipmentbus:Consolidated2023-02-012024-01-3109538757core:ListedExchangeTradedbus:Consolidated2024-01-3109538757core:ListedExchangeTradedbus:Consolidated2023-01-3109538757core:ListedExchangeTraded2024-01-3109538757core:ListedExchangeTraded2023-01-3109538757core:CurrentFinancialInstruments2024-01-3109538757core:CurrentFinancialInstruments2023-01-3109538757core:CurrentFinancialInstrumentsbus:Consolidated2024-01-3109538757core:CurrentFinancialInstrumentsbus:Consolidated2023-01-3109538757core:WithinOneYearbus:Consolidated2024-01-3109538757core:WithinOneYearbus:Consolidated2023-01-3109538757core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3109538757core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3109538757core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2024-01-3109538757core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2023-01-3109538757core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-3109538757core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-3109538757core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2024-01-3109538757core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-01-3109538757bus:PrivateLimitedCompanyLtd2023-02-012024-01-3109538757bus:FRS1022023-02-012024-01-3109538757bus:Audited2023-02-012024-01-3109538757bus:ConsolidatedGroupCompanyAccounts2023-02-012024-01-3109538757bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP