Company registration number 12914931 (England and Wales)
STM 360 GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
STM 360 GROUP LIMITED
COMPANY INFORMATION
Directors
Mr G Taylor
Mr A R Watson
Mr S Lazenby
Mr R P Marshall
Secretary
Mr S Lazenby
Company number
12914931
Registered office
Unit 4
Marrtree Business Park
Thunderhead Ridge
Castleford
WF10 4UA
Auditor
Azets Audit Services Limited
12 King Street
Leeds
LS1 2HL
STM 360 GROUP LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 31
STM 360 GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 1 -

The directors present the strategic report for the year ended 31 May 2024.

Review of the business

The group ("STM 360") provides an integrated and co-ordinated approach to construction, property and maintenance solutions in both the public and private sectors. The business offers a full range of services to support every stage of the property building cycle, including design and build, refurbishment, conversions, fit outs and maintenance.

 

The group maintains strong trading relationships and a diverse customer base from various sectors including education, healthcare and housing.

 

Our people are pivotal to the success of the business, with their professionalism and enthusiasm valued by both management and customers. An Employee Ownership Trust has ultimate ownership of STM 360, promoting long-term stability and ensuring that staff are the beneficiaries of future profit.

Performance during this year

By focussing on excellent delivery to its target customer base, STM 360 has maintained consistent sales levels. Management remains focussed on ensuring that the group undertakes projects that complement its operational capabilities, thereby exceeding customer expectations and supporting the financial performance of STM 360.

 

The directors remain committed to investing in the long-term sustainability of the business, with continued recruitment including apprenticeships.

 

Despite the volatility in the UK economy caused by national and international issues, the strategy adopted by the board continues to build the resilience of the group with increasing cash reserves and net assets.

Key performance indicators

The group directors monitor sales and gross profit percentage when assessing the performance. A summary of these KPIs is below:

 

            2024 2023

            

Sales (£’000)        13,031        13,338

 

Gross Profit (%)        23%        25%

 

Performance at the year end

To promote the continued strong financial and operational performance, staff receive a share of the company’s profits though bonuses. Management firmly believe that staff focus and buy-in will help further leverage STM 360’s capabilities and help grow the group's already strong orderbook.

 

Future developments

Our strategy remains to capitalise on the group’s widely recognised strengths and expertise in building services into the vital and topical market sectors, which include education, healthcare, and housing. We will achieve this by continuing to improve on operational efficiencies and remaining resolutely focussed on these market sectors.

Principal risks and uncertainties

Considerable economic and cost uncertainty exists, due to various national and geopolitical issues. However, due to the group’s strong relationships, it has committed sales for the 2025 reporting period totalling £11,989k. The strong orderbook, along with healthy cash reserves, provide the directors confidence that the group will continue in operational existence for the foreseeable future.

 

In additional to the macro pressures, the business is subject to the risks associated with a construction company, including material price increase, resource availability, health and safety, and cashflow. The board meets regularly to discuss and proactively manage these risks.

STM 360 GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 2 -

On behalf of the board

Mr R P Marshall
Director
8 November 2024
STM 360 GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 3 -

The directors present their annual report and financial statements for the year ended 31 May 2024.

Principal activities

The principal activity of the group continued to be that of the provision of an integrated and co-ordinated approach to construction, property and maintenance solutions in both the public and private sectors. The business offers a full range of services to support every stage of the property building cycle, including design and build, refurbishment, conversions, fit-outs and maintenance.

Results and dividends

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

No ordinary dividends were paid in the year (2023 - £Nil). The directors do not recommend payment of a further dividend.

Directors

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

Mr G Taylor
Mr A R Watson
Mr S Lazenby
Mr R P Marshall
Political and charitable donations

Our goal is to contribute to the well-being and the economic, social and sustainable development of the communities in which we operate. We achieve this by employing local people and using local suppliers. Additionally, we run regular fund raising activities for our nominated charities, The Give a Duck Foundation and Teenage Cancer Trust.

 

During the year the group made charitable donations of £702 (2023 - £510). There were no political donations in the current or prior year.

Financial instruments

The group does not actively use complex financial instruments as part of its financial risk management. It is exposed to the usual credit risk and cash flow risk associated with selling on credit and manages this through credit control procedures. The nature of its financial instruments means that they are not subject to price risk or liquidity risk. The directors do not consider these risks to be material to an assessment of its financial position.

Going Concern

Considerable economic and cost uncertainty exists, due to various national and geopolitical issues. However, due to the group’s strong relationships, it has committed sales for the 2025 reporting period totalling £11,989k. The strong orderbook, along with healthy cash reserves, provide the directors confidence that the group will continue in operational existence for the foreseeable future.

Post reporting date events

There have been no significant events affecting the group since the year end.

Auditor

The auditor, Azets Audit Services Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

STM 360 GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
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 R P Marshall
Director
8 November 2024
STM 360 GROUP LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MAY 2024
- 5 -

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

 

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

 

 

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

STM 360 GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF STM 360 GROUP LIMITED
- 6 -
Opinion

We have audited the financial statements of STM 360 Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 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 and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

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

Other information

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

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

STM 360 GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF STM 360 GROUP LIMITED
- 7 -
Matters on which we are required to report by exception

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

 

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

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STM 360 GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF STM 360 GROUP LIMITED
- 8 -
Extent to which the audit was capable of identifying irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

 

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

 

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

 

Because of 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 regulation. 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. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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.

Matthew Grant (Senior Statutory Auditor)
For and on behalf of Azets Audit Services Limited
15 November 2024
Chartered Accountants
Statutory Auditor
12 King Street
Leeds
LS1 2HL
STM 360 GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024
- 9 -
2024
2023
Notes
£
£
Turnover
3
13,030,527
13,337,900
Cost of sales
(9,989,080)
(9,955,669)
Gross profit
3,041,447
3,382,231
Administrative expenses
(1,741,915)
(1,466,407)
Operating profit
4
1,299,532
1,915,824
Interest receivable and similar income
8
65,825
-
0
Interest payable and similar expenses
9
-
0
(2,191)
Profit before taxation
1,365,357
1,913,633
Tax on profit
10
(443,681)
(400,352)
Profit for the financial year
921,676
1,513,281
Profit for the financial year is all attributable to the owners of the parent company.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

 

There was no other comprehensive income during the year.

The notes on pages 15 to 31 form part of these financial statements.

STM 360 GROUP LIMITED
GROUP BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
11
-
0
108,333
Tangible assets
12
20,161
41,141
20,161
149,474
Current assets
Stocks
14
410,738
296,103
Debtors
15
1,911,854
1,975,404
Cash at bank and in hand
3,875,359
3,396,860
6,197,951
5,668,367
Creditors: amounts falling due within one year
16
(4,299,192)
(3,581,335)
Net current assets
1,898,759
2,087,032
Net assets
1,918,920
2,236,506
Capital and reserves
Called up share capital
19
200
200
Share premium account
895
895
Other reserves
20
(3,336,512)
(2,097,250)
Profit and loss reserves
5,254,337
4,332,661
Total equity
1,918,920
2,236,506
The financial statements were approved by the board of directors and authorised for issue on 8 November 2024 and are signed on its behalf by:
08 November 2024
Mr R P Marshall
Director
Company registration number 12914931 (England and Wales)
STM 360 GROUP LIMITED
COMPANY BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
13
270,904
166
Current assets
Debtors
15
929
929
Net current assets
929
929
Net assets
271,833
1,095
Capital and reserves
Called up share capital
19
200
200
Share premium account
895
895
Other reserves
20
(3,336,512)
(2,097,250)
Profit and loss reserves
3,607,250
2,097,250
Total equity
271,833
1,095

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 £1,510,000 (2023 - £1,046,000 profit).

The financial statements were approved by the board of directors and authorised for issue on 8 November 2024 and are signed on its behalf by:
08 November 2024
Mr R P Marshall
Director
Company registration number 12914931 (England and Wales)
STM 360 GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 12 -
Share capital
Share premium account
Share-based payment reserve
EOT reserve
Profit and loss reserves
Total
£
£
£
£
£
£
Balance at 1 June 2022
200
895
-
(1,051,250)
2,819,380
1,769,225
Year ended 31 May 2023:
Profit and total comprehensive income
-
-
-
-
1,513,281
1,513,281
Transfers
-
-
-
(1,046,000)
-
(1,046,000)
Balance at 31 May 2023
200
895
-
(2,097,250)
4,332,661
2,236,506
Year ended 31 May 2024:
Profit and total comprehensive income
-
-
-
-
921,676
921,676
Transfers
-
-
-
(1,510,000)
-
(1,510,000)
Other movements
-
-
270,738
-
-
270,738
Balance at 31 May 2024
200
895
270,738
(3,607,250)
5,254,337
1,918,920
STM 360 GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 13 -
Share capital
Share premium account
Share-based payment reserve
EOT reserve
Profit and loss reserves
Total
£
£
£
£
£
£
Balance at 1 June 2022
200
895
-
(1,051,250)
1,051,250
1,095
Year ended 31 May 2023:
Profit and total comprehensive income
-
-
-
-
1,046,000
1,046,000
Transfers
-
-
-
(1,046,000)
-
(1,046,000)
Balance at 31 May 2023
200
895
-
(2,097,250)
2,097,250
1,095
Year ended 31 May 2024:
Profit and total comprehensive income
-
-
-
-
1,510,000
1,510,000
Transfers
-
-
-
(1,510,000)
-
(1,510,000)
Other movements
-
-
270,738
-
-
270,738
Balance at 31 May 2024
200
895
270,738
(3,607,250)
3,607,250
271,833
STM 360 GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024
- 14 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
2,390,392
2,944,344
Interest paid
-
0
(2,191)
Income taxes paid
(460,000)
(408,570)
Net cash generated from operating activities
1,930,392
2,533,583
Investing activities
Purchase of tangible fixed assets
(7,460)
(4,970)
Interest received
65,567
-
0
Net cash generated from/(used in) investing activities
58,107
(4,970)
Financing activities
Other distributions from other reserves
20
(1,510,000)
(1,046,000)
Net cash used in financing activities
(1,510,000)
(1,046,000)
Net increase in cash and cash equivalents
478,499
1,482,613
Cash and cash equivalents at beginning of year
3,396,860
1,914,247
Cash and cash equivalents at end of year
3,875,359
3,396,860
STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 15 -
1
Accounting policies
Company information

STM 360 Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4, Marrtree Business Park, Thunderhead Ridge, Castleford, WF10 4UA.

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 £1.

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

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

 

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.

STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 16 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company STM 360 Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 May 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.

1.4
Going concern

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

1.5
Turnover

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the period, exclusive of Value Added Tax. Turnover is recognised on invoice the work performed has been certified by a quantity surveyor.

Turnover from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, turnover is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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 5 years.

 

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

1.7
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.

STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 17 -

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 improvements
Over the term of the lease
Fixtures and fittings
20 - 33% 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.

1.8
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.

1.9
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.

STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 18 -
1.10
Stocks

Stock are valued at the lower of cost and net realisable value. Work in progress on contracts in valued at costs incurred, plus attributable profit less turnover already invoiced. Costs incurred includes all direct costs and an appropriate proportion of fixed and variable overheads. Attributable profit is calculated on a prudent basis to reflect the portion of work carried out at the period end. For any contracts where amounts invoiced exceed costs incurred plus attributable profit, the excess is included within accruals.

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

1.11
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.

1.12
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.

STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 19 -
Impairment of financial assets

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

 

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

 

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

Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

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

 

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

 

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

Other financial liabilities

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

 

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

STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 20 -
Derecognition of financial liabilities

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

1.13
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.

1.14
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.

1.15
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.

1.16
Retirement benefits

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

STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 21 -
1.17
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black-Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

 

The expense in relation to options over the parent company’s shares granted to employees of a subsidiary is recognised by the company as a capital contribution, and presented as an increase in the company’s investment in that subsidiary.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

 

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

1.18

Profit recognition on contracts

Profit is taken on contracts where the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the portion of the work carried out at the period end, by recording turnover and related costs as a contract activity progresses. Turnover is recognised on certification. The relevant proportion of costs are recognised in line with the stage percentage completion as a percentage of total expected cost. Turnover derived from variations on contracts is recognised only when they have been accepted by the customer. Full provisions are made for losses on all contracts in the period, in which they are first foreseen.

STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 22 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Contract accounting

The most critical accounting policies and significant areas of judgment and estimation arises from the accounting for contracts. Contract accounting requires estimates to be made for contract costs and income. In many cases, these contractual obligations span more than one financial period. Also the costs and income may be affected by a number of uncertainties that depend on the outcome of the future events, and may need to be revised as events unfold and uncertainties are resolved.

 

Management bases its judgement of costs and income and its assessment of the expected outcome of each contractual obligation on the latest available information which includes detailed contract valuations and forecasts of the cost to complete. The estimate of the contract position and the profit or loss earned to date are updated regularly and significant changes are highlighted through established internal review procedures. The impact of any change in the accounting estimates is then reflected in the accounts.

3
Turnover and other revenue

Turnover is wholly attributable to the principal activity of the group.

 

All turnover arose within the United Kingdom.

 

2024
2023
£
£
Other revenue
Interest income
65,825
-
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging:
Depreciation of owned tangible fixed assets
28,440
41,090
Amortisation of intangible assets
108,333
100,000
Share-based payments
270,738
-
Operating lease charges
72,996
65,992
STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 23 -
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
21,200
20,360
For other services
All other non-audit services
8,500
7,640
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
Office
3
7
-
-
Operatives
29
29
-
-
Directors
4
4
4
4
Total
36
40
4
4

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
2,066,286
1,918,180
-
0
-
0
Social security costs
205,400
221,354
-
-
Pension costs
156,399
64,329
-
0
-
0
2,428,085
2,203,863
-
0
-
0
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
314,698
369,945
Company pension contributions to defined contribution schemes
80,505
12,740
395,203
382,685
STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
7
Directors' remuneration
(Continued)
- 24 -
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
99,914
104,055
Company pension contributions to defined contribution schemes
26,710
-
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
65,825
-
0
9
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
-
2,191
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
443,681
414,352
Deferred tax
Origination and reversal of timing differences
-
0
(14,000)
Total tax charge
443,681
400,352
STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
10
Taxation
(Continued)
- 25 -

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
1,365,357
1,913,633
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 20.00%)
341,339
382,727
Tax effect of expenses that are not deductible in determining taxable profit
69,690
4,515
Depreciation on assets not qualifying for tax allowances
32,652
22,571
Other
-
0
(9,461)
Taxation charge
443,681
400,352
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 June 2023 and 31 May 2024
500,000
Amortisation and impairment
At 1 June 2023
391,667
Amortisation charged for the year
108,333
At 31 May 2024
500,000
Carrying amount
At 31 May 2024
-
0
At 31 May 2023
108,333
The company had no intangible fixed assets at 31 May 2024 or 31 May 2023.
STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 26 -
12
Tangible fixed assets
Group
Leasehold improvements
Fixtures and fittings
Total
£
£
£
Cost
At 1 June 2023
64,278
89,872
154,150
Additions
-
0
7,460
7,460
Disposals
-
0
(8,337)
(8,337)
At 31 May 2024
64,278
88,995
153,273
Depreciation and impairment
At 1 June 2023
41,922
71,087
113,009
Depreciation charged in the year
12,856
15,584
28,440
Eliminated in respect of disposals
-
0
(8,337)
(8,337)
At 31 May 2024
54,778
78,334
133,112
Carrying amount
At 31 May 2024
9,500
10,661
20,161
At 31 May 2023
22,356
18,785
41,141
The company had no tangible fixed assets at 31 May 2024 or 31 May 2023.
13
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
24
-
0
-
0
270,904
166
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 June 2023
166
Capital contributions
270,738
At 31 May 2024
270,904
Carrying amount
At 31 May 2024
270,904
At 31 May 2023
166
STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 27 -
14
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Work in progress
410,738
296,103
-
-
15
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,815,665
1,878,448
-
0
-
0
Amounts owed by group undertakings
-
-
929
929
Other debtors
38,547
31,177
-
0
-
0
Prepayments and accrued income
57,642
65,779
-
0
-
0
1,911,854
1,975,404
929
929
16
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Trade creditors
841,673
1,021,088
-
0
-
0
Corporation tax payable
217,744
234,321
-
0
-
0
Other taxation and social security
280,206
306,162
-
-
Other creditors
21,250
10,502
-
0
-
0
Accruals and deferred income
2,938,319
2,009,262
-
0
-
0
4,299,192
3,581,335
-
0
-
0
17
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
156,399
64,329

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.

STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 28 -
18
Share-based payment transactions

Equity-settled share-based payments

On 9 May 2023 certain employees of the group subscribed for C-Ordinary shares in the company. These shares provide a preferential share of profits to shareholders of the C-Ordinary shares in the event that an exit event occurs past certain hurdles, subject to ongoing employment by those individuals. This means that the C-Ordinary shares represent sweet equity and are to be accounted for as a share-based payment.

 

As STM 360 Limited has the benefit of ongoing employment of these individuals, it has recognised an expense in its profit and loss account of £270,738 with an associated capital contribution reserve recognised in respect of this transaction. STM 360 Group Limited has recognised a cost of investment in STM 360 Limited, and a share based payment reserve. The net impact across the group is the recognition of a share-based payment expense and a share-based payment reserve.

 

The sweet equity was granted such that it takes the form of a share of proceeds beyond hurdles. The scheme was valued using a Black-Scholes model, the inputs for which were as follows:

 

Grant date            9 May 2023

Vesting period            5 years

Expected award life        5 years

Acquisition price            £0.01

Equity value            £1,318,893

Expected volatility        42.94%

Expected dividend yield        0%

Risk-free rate            3.67%

Hurdle                £Nil

19
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of 1p each
16,560
16,560
166
166
Ordinary B1 & B2 Shares of 1p each
3,440
3,440
34
34
20,000
20,000
200
200

The A Ordinary Shares and the B Ordinary shares rank pari passu with respect to a distribution of profits and a return of capital.

 

The A Ordinary Shares and the B Ordinary shares carry the right to receive notice of and to attend, speak and vote at all general meetings of the Company and to vote on written resolutions and on a poll or written resolution to exercise one vote per share.

STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 29 -
20
EOT reserve

EOT reserve

EOT reserves is the consideration for company shares paid for by the company on behalf of STM 360 Employee Ownership Trust. In accordance with FRS 102 S9.33-38, the consideration paid is deducted from equity until such time that the equity instrument vests unconditionally with employees.

 

The total consideration for the EOT is £10,250,000 which is deferred over 6 years. Depending on the group meeting performance requirements, the consideration should be fully vested in May 2028.

 

Share-based payment reserve

Information regarding share-based payment transactions in the year is held in note 18.

21
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
42,564
68,919
-
-
Between two and five years
24,619
40,279
-
-
In over five years
333
-
-
-
67,516
109,198
-
-
22
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2024
2023
£
£
Aggregate compensation
597,618
516,207

In the year, the number of employees considered to be key management personnel, including directors, was 6 (2023: 6).

Transactions with related parties

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

Sales
Sales
2024
2023
£
£
Group
S Lazenby
379
605
A Watson
3,100
29,897
STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
22
Related party transactions
(Continued)
- 30 -

The following amounts were outstanding at the reporting end date:

Amounts due from related parties
2024
2023
Balance
Balance
£
£
Group
S Lazenby
-
550
A Watson
-
35,879
Other related parties
420
-
23
Controlling party

The company is controlled by its directors.

24
Subsidiaries

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

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
STM 360 Limited
Unit 4, Marrtree Business Park, Thunderhead Ridge, Castleford, England, WF10 4UA
Ordinary
100.00
25
Cash generated from group operations
2024
2023
£
£
Profit for the year after tax
921,676
1,513,281
Adjustments for:
Taxation charged
443,681
400,352
Finance costs
-
0
2,191
Investment income
(65,825)
-
0
Amortisation and impairment of intangible assets
108,333
100,000
Depreciation and impairment of tangible fixed assets
28,440
41,090
Equity settled share based payment expense
270,738
-
Movements in working capital:
(Increase)/decrease in stocks
(114,635)
231,095
Decrease in debtors
63,550
892,089
Increase/(decrease) in creditors
734,434
(235,754)
Cash generated from operations
2,390,392
2,944,344
STM 360 GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 31 -
26
Analysis of changes in net funds - group
1 June 2023
Cash flows
31 May 2024
£
£
£
Cash at bank and in hand
3,396,860
478,499
3,875,359
2024-05-312023-06-01falseCCH SoftwareCCH Accounts Production 2024.210Mr G TaylorMr A R WatsonMr R P MarshallMr Richard MarshallMr S Lazenbyfalsefalse12914931bus:Consolidated2023-06-012024-05-31129149312023-06-012024-05-3112914931bus:Director12023-06-012024-05-3112914931bus:Director22023-06-012024-05-3112914931bus:CompanySecretaryDirector12023-06-012024-05-3112914931bus:Director32023-06-012024-05-3112914931bus:CompanySecretary12023-06-012024-05-3112914931bus:Director42023-06-012024-05-3112914931bus:RegisteredOffice2023-06-012024-05-3112914931bus:Consolidated2024-05-31129149312024-05-3112914931bus:Consolidated2022-06-012023-05-31129149312022-06-012023-05-3112914931core:Goodwillbus:Consolidated2024-05-3112914931core:Goodwillbus:Consolidated2023-05-3112914931bus:Consolidated2023-05-3112914931core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2024-05-3112914931core:FurnitureFittingsbus:Consolidated2024-05-3112914931core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-05-3112914931core:FurnitureFittingsbus:Consolidated2023-05-31129149312023-05-3112914931bus:Consolidated2022-05-3112914931core:ShareCapitalbus:Consolidated2024-05-3112914931core:ShareCapitalbus:Consolidated2023-05-3112914931core:SharePremiumbus:Consolidated2024-05-3112914931core:SharePremiumbus:Consolidated2023-05-3112914931core:OtherMiscellaneousReservebus:Consolidated2024-05-3112914931core:OtherMiscellaneousReservebus:Consolidated2023-05-3112914931core:ShareCapital2024-05-3112914931core:ShareCapital2023-05-3112914931core:SharePremium2024-05-3112914931core:SharePremium2023-05-3112914931core:OtherMiscellaneousReserve2024-05-3112914931core:OtherMiscellaneousReserve2023-05-3112914931core:RetainedEarningsAccumulatedLosses2024-05-3112914931core:ShareCapitalbus:Consolidated2022-05-3112914931core:SharePremiumbus:Consolidated2022-05-3112914931core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-05-3112914931core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-05-3112914931core:Share-basedPaymentsReserve2024-05-3112914931core:RetainedEarningsAccumulatedLossesbus:Consolidated2024-05-3112914931core:ShareCapital2022-05-3112914931core:SharePremium2022-05-3112914931core:RetainedEarningsAccumulatedLosses2022-05-3112914931core:RetainedEarningsAccumulatedLosses2023-05-3112914931core:Goodwill2023-06-012024-05-3112914931core:LandBuildingscore:LongLeaseholdAssets2023-06-012024-05-3112914931core:FurnitureFittings2023-06-012024-05-3112914931core:UKTaxbus:Consolidated2023-06-012024-05-3112914931core:UKTaxbus:Consolidated2022-06-012023-05-3112914931bus:Consolidated12023-06-012024-05-3112914931bus:Consolidated12022-06-012023-05-3112914931core:Goodwillbus:Consolidated2023-05-3112914931core:Goodwillbus:Consolidated2023-06-012024-05-3112914931core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-05-3112914931core:FurnitureFittingsbus:Consolidated2023-05-3112914931bus:Consolidated2023-05-3112914931core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-06-012024-05-3112914931core:FurnitureFittingsbus:Consolidated2023-06-012024-05-3112914931core:CurrentFinancialInstruments2024-05-3112914931core:CurrentFinancialInstruments2023-05-3112914931core:CurrentFinancialInstrumentsbus:Consolidated2024-05-3112914931core:CurrentFinancialInstrumentsbus:Consolidated2023-05-3112914931core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2024-05-3112914931core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-05-3112914931core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3112914931core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-311291493112023-06-012024-05-3112914931bus:PrivateLimitedCompanyLtd2023-06-012024-05-3112914931bus:FRS1022023-06-012024-05-3112914931bus:Audited2023-06-012024-05-3112914931bus:ConsolidatedGroupCompanyAccounts2023-06-012024-05-3112914931bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP