Nucleus Cash Flow Finance Limited
Annual Report and Financial Statements
For the year ended 31 March 2024
Company Registration No. 09990385 (England and Wales)
Nucleus Cash Flow Finance Limited
Company Information
Directors
C Shah
M Goldman
S Willmett
Secretary
G May
Company number
09990385
Registered office
Mezzanine Floor
St Albans House
57-59 Haymarket
London
SW1Y 4QX
Auditor
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Nucleus Cash Flow Finance Limited
Contents
Page
Directors' report
1 - 2
Independent auditor's report
3 - 6
Profit and loss account
7
Balance sheet
8
Notes to the financial statements
10 - 16
Nucleus Cash Flow Finance Limited
Directors' Report
For the year ended 31 March 2024
Page 1

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

Principal activities

The principal activity of the company continued to be the provision of alternative business financing.

Directors

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

C Shah
M Goldman
S Willmett
Results and dividends

Preference dividends were paid amounting to £nil (2023: £318,369).

Auditor

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

Statement of directors' responsibilities

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 company and of the profit or loss of the company 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 company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Nucleus Cash Flow Finance Limited
Directors' Report (Continued)
For the year ended 31 March 2024
Page 2
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 company’s auditor 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 company’s auditor is aware of that information.

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

On behalf of the board
S Willmett
Director
30 September 2024
Nucleus Cash Flow Finance Limited
Independent Auditor's Report
To the Members of Nucleus Cash Flow Finance Limited
Page 3
Opinion

We have audited the financial statements of Nucleus Cash Flow Finance Limited (the 'company') for the year ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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 FRS 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 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 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.

Nucleus Cash Flow Finance Limited
Independent Auditor's Report (Continued)
To the Members of Nucleus Cash Flow Finance Limited
Page 4

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Nucleus Cash Flow Finance Limited
Independent Auditor's Report (Continued)
To the Members of Nucleus Cash Flow Finance Limited
Page 5
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.

 

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

 

 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

 

 

Nucleus Cash Flow Finance Limited
Independent Auditor's Report (Continued)
To the Members of Nucleus Cash Flow Finance Limited
Page 6

Explanation as to what extent the audit was considered capable of detecting 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, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

 

 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

Ryan Day
Senior Statutory Auditor
for and on behalf of Moore Kingston Smith LLP
30 September 2024
Chartered Accountants
Statutory Auditor
6th Floor
9 Appold Street
London
EC2A 2AP
Nucleus Cash Flow Finance Limited
Profit and Loss Account
For the year ended 31 March 2024
Page 7
2024
2023
£
£
Turnover
723,520
787,101
Cost of sales
(1,495,177)
(1,579,924)
Gross loss
(771,657)
(792,823)
Administrative expenses
(2,412,965)
1,364,899
Exceptional item
3
-
0
10,094,456
Operating (loss)/profit
(3,184,622)
10,666,532
Interest payable and similar expenses
5
(275,462)
250,533
(Loss)/profit before taxation
(3,460,084)
10,917,065
Taxation
-
0
58,643
(Loss)/profit for the financial year
(3,460,084)
10,975,708
Nucleus Cash Flow Finance Limited
Balance Sheet
As at 31 March 2024
Page 8
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
6
10,653,438
12,018,649
Current assets
Debtors
8
1,942,288
3,218,531
Cash at bank and in hand
451,290
901,463
2,393,578
4,119,994
Creditors: amounts falling due within one year
9
(2,550,630)
(1,932,173)
Net current (liabilities)/assets
(157,052)
2,187,821
Total assets less current liabilities
10,496,386
14,206,470
Creditors: amounts falling due after more than one year
10
(889,484)
(1,139,484)
Net assets
9,606,902
13,066,986
Capital and reserves
Called up share capital
11
10,401,000
10,401,000
Other reserves
2,530,100
2,530,100
Profit and loss reserves
(3,324,198)
135,886
Total equity
9,606,902
13,066,986

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 by the board of directors and authorised for issue on 30 September 2024 and are signed on its behalf by:
S Willmett
Director
Company Registration No. 09990385
Nucleus Cash Flow Finance Limited
Statement of Changes in Equity
For the year ended 31 March 2024
Page 9
Share capital
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2022
10,401,000
2,530,100
(10,521,453)
2,409,647
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
-
10,975,708
10,975,708
Dividends
-
-
(318,369)
(318,369)
Balance at 31 March 2023
10,401,000
2,530,100
135,886
13,066,986
Year ended 31 March 2024:
Loss and total comprehensive income for the year
-
-
(3,460,084)
(3,460,084)
Balance at 31 March 2024
10,401,000
2,530,100
(3,324,198)
9,606,902
Nucleus Cash Flow Finance Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 10
1
Accounting policies
Company information

Nucleus Cash Flow Finance Limited is a private company limited by shares domiciled and incorporated in England and Wales. The registered office is Mezzanine Floor, St Albans House, 57-59 Haymarket, London, England, SW1Y 4QX.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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
Exemptions for qualifying entities under FRS 102

This 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:

 

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

Nucleus Cash Flow Finance Limited is a wholly owned subsidiary of Nucleus Commercial Holdings Limited and the results of Nucleus Cash Flow Finance Limited are included in the consolidated financial statements of Nucleus Commercial Holdings Limited which are available from Mezzanine Floor, St Albans House, 57-59 Haymarket, London, SW1Y 4QX.

Nucleus Cash Flow Finance Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 11
1.3
Going concern

Following the restructuring of the entity in the previous financial year,true the financial position of the company is robust and will allow it to meet its financial obligations for the foreseeable future.

 

The company maintains a small CBILs loan book, the performance of which is robust. The company is unlikely to originate future loans and will only be the originator of source in respect of the CBILs and RLS products in which it holds a financial interest.

 

There are no material uncertainties that would cast significant doubt over the ability of the entity to continue to meet its obligations as they fall due and to continue trading for the foreseeable future. As such the accounts have been prepared on a going concern basis.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

 

Interest receivable is recognised on a monthly basis. Take on fees are accrued at the point of the start of the contract with the customer. Commitment fees relate to preliminary work carried out to establish the risk profile of the client which are then recharged and are accrued as invoiced.

 

With regards to CBILS income, arrangement fees are accrued at the point of the start of the contract with the customer. This is then amortised over the life of the loan.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

1.7
Financial instruments

Basic financial instruments are measured at cost. The company has no other financial instruments or basic financial instruments measured at fair value.

1.8
Equity instruments

Equity instruments issued by the company 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 company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

 

The other reserve represents a capital contribution reserve.

 

Nucleus Cash Flow Finance Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 12
1.9
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 company’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 when the company has 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.

1.10

Exceptional item

Exceptional items are transactions, events, or circumstances that are considered to be unusual in nature, infrequent in occurrence, and material in amount. These items are not expected to recur regularly in the normal course of business. Exceptional items shall be recognised separately in the income statement, following their nature and presentation, as they are not part of the ordinary activities of the entity. Exceptional items shall be measured at their actual amounts incurred or realised, as appropriate, in accordance with other relevant FRS 102 requirements.

2
Judgements and key sources of estimation uncertainty

In the application of the company’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.

Nucleus Cash Flow Finance Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
Page 13
Key sources of estimation uncertainty

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

Bad debt provision

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current valuation of the assets that the company has security on, the ageing profile of debtors and historical experience, applying this to both the principal and interest elements of the loans. See note 8 for the net carrying amount of the debtors which includes an associated impairment provision of £164,259 (2023: £127,015) within trade debtors.

Carrying value of investments

The investments in Nucleus Cash Flow Finance1 Limited and Nucleus Cash Flow Finance4 Limited of £7,848,231 (2023: £7,848,231) and £2,805,197 (2023: £4,170,418) at 31 March 2024 are included at cost less impairment. Management have assessed the carrying value of the investments by forecasting future cash flows of each entity and preparing estimated outcome statements for both.

 

As the loanbooks in both entities are in run off, no new originations have been built into the forecast, which reduces the estimation uncertainty. However, the forecast future cash flows of may differ from the actual cash flows due to a variety of factors which could impact the cash flows of Nucleus Cash Flow Finance1 Limited and Nucleus Cash Flow Finance4 Limited in future years, principally being the ongoing performance of the loanbooks. The carrying value of the investments in Nucleus Cash Flow Finance1 Limited and Nucleus Cash Flow Finance4 Limited are sensitive to changes in these assumptions. Management have made their assessment at 31 March 2024 based on the information available and have assessed that an impairment is not required on the investment in Nucleus Cash Flow Finance1 Limited (2023: £Nil), whilst an impairment of £1,365,211 (2023: £Nil) has been recognised on the investment in Nucleus Cash Flow Finance4 Limited at 31 March 2024.

3
Exceptional item
2024
2023
£
£
Income
Exceptional item - Other operating income
-
10,094,456

The exceptional item in the profit and loss account in the prior year was in respect of the sale and subsequent write back of historical debt from Nucleus Cash Flow Finance Limited to Nucleus Property Finance1 Limited that was executed in the financial year as part of a wider re-structuring of the Nucleus Group.

4
Employees

There were no persons employed by the company during the year or the comparative period.

Nucleus Cash Flow Finance Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 14
5
Interest payable and similar expenses
2024
2023
£
£
Other interest on financial liabilities
275,462
(250,533)

Interest payable was a credit balance in the year ended 31 March 2023 following adjustments relating to the carve out of the loan book that resulted in accrued interest being written back to the profit and loss account.

6
Fixed asset investments
2024
2023
£
£
Investments
10,653,438
12,018,649
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2023 & 31 March 2024
12,018,649
Impairment
At 1 April 2023
-
Impairment losses
1,365,211
At 31 March 2024
1,365,211
Carrying amount
At 31 March 2024
10,653,438
At 31 March 2023
12,018,649
7
Subsidiaries

These financial statements are separate company financial statements for Nucleus Cash Flow Finance Limited.

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

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Nucleus Cash Flow Finance1 Limited
England and Wales
Ordinary
100.00
Nucleus Cash Flow Finance4 Limited
England and Wales
Ordinary
100.00
Nucleus Cash Flow Finance Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 15
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
792,359
924,008
Amounts due from group undertakings
526,562
1,484,002
Other debtors
623,367
810,521
1,942,288
3,218,531

Included within debtors is £482,228 (2023: £727,163) falling due in more than one year, gross of the bad debt provision.

9
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,953
1,958
Other creditors
393,461
662,026
Accruals and deferred income
2,152,216
1,268,189
2,550,630
1,932,173
10
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
889,484
1,139,484

Other creditors due after more than one year are secured by a fixed and floating charge over the company's assets in their entirety.

Nucleus Cash Flow Finance Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 16
11
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100,000 Ordinary shares of 1p each
1,000
1,000
1,000
1,000
Preference share capital
Issued and fully paid
104 Preference shares of £100,000 each
10,400,000
10,400,000
10,400,000
10,400,000

The ordinary share capital has full rights in the company with respect to voting, dividends and distributions.

 

The preference shares have the following rights: 1) To receive notice of all general meetings but not to attend or vote thereat; 2) To receive a fixed non-cumulative preferential dividend at the annual rate of 2% of the issue price per share at directors' discretion; 3) Capital distribution (including on winding-up); 4) Redemption at company's discretion or on share listing at net asset value as per latest accounts.

12
Related party transactions

The company has taken advantage of the exemption available in accordance with FRS 102 section 33 'Related Party Disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group with which it is party to the transactions.

 

Nucleus Cash Flow Finance Limited had transactions totalling £nil (2023: £823,557) with Nucleus Property Finance1 Limited, in the period post sale. There were no amounts outstanding between these entities at 31 March 2024 (2023: £nil). The companies were related by virtue of common Directors.

 

Nucleus Cash Flow Finance Limited has an amount owed to Prime Cash Flow Finance Limited, a company under common control, at the year end of £52,440 (2023: £nil).

 

13
Control

The parent company of Nucleus Cash Flow Finance Limited is Nucleus Commercial Holdings Limited, a company incorporated in England and Wales who prepare consolidated accounts for the group. Copies of the consolidated accounts are available from Mezzanine Floor, St Albans House, 57-59 Haymarket, London, England, SW1Y 4QX.

 

The ultimate parent undertaking is Nucleus Holdings Limited, a company incorporated in Isle of Man.

2024-03-312023-04-01falsefalsefalseCCH SoftwareCCH Accounts Production 2024.301C ShahM GoldmanS WillmettG May0099903852023-04-012024-03-3109990385bus:Director12023-04-012024-03-3109990385bus:Director22023-04-012024-03-3109990385bus:Director32023-04-012024-03-3109990385bus:CompanySecretary12023-04-012024-03-31099903852024-03-31099903852022-04-012023-03-3109990385core:RetainedEarningsAccumulatedLosses2022-04-012023-03-3109990385core:RetainedEarningsAccumulatedLosses2023-04-012024-03-31099903852023-03-3109990385core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3109990385core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3109990385core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3109990385core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3109990385core:ShareCapital2024-03-3109990385core:ShareCapital2023-03-3109990385core:OtherMiscellaneousReserve2024-03-3109990385core:OtherMiscellaneousReserve2023-03-3109990385core:RetainedEarningsAccumulatedLosses2024-03-3109990385core:RetainedEarningsAccumulatedLosses2023-03-3109990385core:ShareCapital2022-03-3109990385core:RetainedEarningsAccumulatedLosses2022-03-3109990385core:ShareCapitalOrdinaryShares2024-03-3109990385core:ShareCapitalOrdinaryShares2023-03-3109990385core:ShareCapitalPreferenceShares2024-03-3109990385core:ShareCapitalPreferenceShares2023-03-3109990385core:CurrentFinancialInstruments2024-03-3109990385core:CurrentFinancialInstruments2023-03-3109990385bus:OrdinaryShareClass12023-04-012024-03-3109990385bus:OrdinaryShareClass12024-03-3109990385bus:PrivateLimitedCompanyLtd2023-04-012024-03-3109990385bus:FRS1022023-04-012024-03-3109990385bus:Audited2023-04-012024-03-3109990385bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP