Directors |
|
|
|
Secretary |
|
Company Number |
|
Registered Office | Nene House |
Station Road | |
Watford Village | |
Northamptonshire | |
NN6 7XN | |
Accountants | CBTax |
CIOT & ICAEW | |
17 Grovelands Business Park | |
West Haddon Road | |
East Haddon | |
Northamptonshire | |
NN6 8FB | |
Auditors |
|
Century House | |
The Lakes | |
Northampton | |
NN4 7HD | |
Bankers | Lloyds Bank plc |
Altius House | |
Milton Keynes | |
Buckinghamshire | |
MK9 1NJ | |
Solicitors | Howes Percival |
4 Rushmills | |
Northampton | |
NN4 7YB | |
Director
|
20/12/2024
|
|
Appointed |
|
|
Appointed |
|
Director
|
|
for and on behalf of
|
|
Century House
The Lakes
Northampton
NN4 7HD
|
31 December 2023 | ||
---|---|---|
Notes | £ | |
TURNOVER | 3 |
|
Cost of sales |
( |
|
GROSS PROFIT |
|
|
Administrative expenses |
( |
|
OPERATING LOSS | 4 |
( |
Profit on revaluation of investment property |
|
|
Profit on revaluation of investments |
|
|
Profit on disposal of fixed assets |
|
|
Other interest receivable and similar income | 9 |
|
Interest payable and similar charges | 10 |
( |
PROFIT BEFORE TAXATION |
|
|
Tax on Profit | 11 |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL PERIOD |
|
|
Profit attributable to: | ||
Owners of the parent | 832,824 | |
Non-controlling interest | (79,983) | |
|
||
31 December 2023 | |||
---|---|---|---|
Notes | £ | £ | |
FIXED ASSETS | |||
Intangible Assets | 12 |
( |
|
Tangible Assets | 13 |
|
|
Investment Properties | 14 |
|
|
Investments | 15 |
|
|
|
|||
CURRENT ASSETS | |||
Stocks | 16 |
|
|
Debtors | 17 |
|
|
Cash at bank and in hand |
|
||
|
|||
Creditors: Amounts Falling Due Within One Year | 18 |
( |
|
NET CURRENT ASSETS (LIABILITIES) |
( |
||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
||
Creditors: Amounts Falling Due After More Than One Year | 19 |
( |
|
PROVISIONS FOR LIABILITIES | |||
Deferred Taxation | 22 |
( |
|
NET ASSETS |
|
||
CAPITAL AND RESERVES | |||
Called up share capital | 23 |
|
|
Other reserves |
|
||
Profit and Loss Account |
|
||
Equity attributable to owners of the parent | 10,661,473 | ||
Non-controlling interest |
( |
||
TOTAL EQUITY | 10,391,276 | ||
Director
|
31 December 2023 | |||
---|---|---|---|
Notes | £ | £ | |
FIXED ASSETS | |||
Investments | 15 |
|
|
|
|||
Creditors: Amounts Falling Due Within One Year | 18 |
( |
|
NET CURRENT ASSETS (LIABILITIES) |
( |
||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
||
NET ASSETS |
|
||
CAPITAL AND RESERVES | |||
Called up share capital | 23 |
|
|
Other reserves |
|
||
SHAREHOLDERS' FUNDS | 9,680,610 | ||
Director
|
|
Share Capital | Revaluation reserve | Other reserves | Profit and Loss Account | |
---|---|---|---|---|
£ | £ | £ | £ | |
As at 17 March 2023 |
|
|
|
( |
Profit for period | - | - | - | 1,023,038 |
Surplus on revaluation | - |
( |
- | - |
Other comprehensive income for the period | - |
( |
|
|
Total comprehensive income for the period | - | (206,656) | - |
|
Dividends paid | - | - | - | (3,403) |
Transfer from revaluation reserve | - | - | - | 2,156,656 |
Transfer to/from Profit & Loss Account | - |
( |
|
- |
As at 31 December 2023 |
|
|
|
|
Total Attributable to Parent | Non-controlling interest | Total | |
---|---|---|---|
£ | £ | £ | |
As at 17 March 2023 |
|
|
9,832,052 |
Profit for period |
|
( |
|
Surplus on revaluation |
( |
|
( |
Other comprehensive income for the period |
( |
|
( |
Total comprehensive income for the period |
|
( |
546,185 |
Dividends paid | (3,403) |
|
(3,403) |
Transfer from revaluation reserve | 2,156,656 | - | 2,156,656 |
Transfer to/from Profit & Loss Account | (1,950,000) | - | (1,950,000) |
As at 31 December 2023 |
|
( |
10,391,276 |
Share Capital | Other reserves | Total | |
---|---|---|---|
£ | £ | £ | |
As at 17 March 2023 |
|
|
9,680,610 |
As at 31 December 2023 |
|
|
9,680,610 |
31 December 2023 | ||
---|---|---|
Notes | £ | |
Cash flows from operating activities | ||
Net cash used in operations | 1 |
( |
Interest paid |
( |
|
Profit reconciliation | 374,381 | |
Net cash used in operating activities |
( |
|
Cash flows from investing activities | ||
Purchase of tangible assets |
( |
|
Proceeds from disposal of tangible assets |
|
|
Interest received |
|
|
Hire purchase interest paid | (11,703) | |
Purchase of investments | (450,000) | |
Revaluation of investments | 20,771 | |
Purchase of investment property | (555,722) | |
Net cash acquired with subsidiary | 1,932,890 | |
Net cash generated from investing activities |
|
|
Cash flows from financing activities | ||
Proceeds from new bank borrowings |
|
|
Repayment of bank borrowings |
( |
|
Capital element of hire purchase | (13,819) | |
Payment of bank interest | (322,860) | |
Net cash generated from financing activities |
|
|
Increase in cash and cash equivalents |
|
|
Cash and cash equivalents at beginning of period | 2 |
|
Cash and cash equivalents at end of period | 2 |
|
31 December 2023 | |
---|---|
£ | |
Profit for the financial period |
|
Adjustments for: | |
Tax on profit |
( |
Interest expense |
|
Interest income |
( |
Amortisation of intangible assets |
( |
Depreciation of tangible assets |
|
Profit on disposal of tangible assets | (72,858) |
Movements in working capital: | |
Increase in stocks |
( |
Increase in trade and other debtors |
( |
Increase in trade and other creditors |
|
Income from fixed asset investments | 20,771 |
Other depreciation of tangible fixed assets | 34,938 |
Net cash used in operations |
( |
31 December 2023 | |
---|---|
£ | |
Cash at bank and in hand |
|
Overdraft facilities repayable on demand |
( |
Cash and cash equivalents as stated in the Statement of Cash Flows | 826,748 |
As at 17 March 2023 | Cash flows | As at 31 December 2023 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
2,808,970 |
|
Finance leases | - | (340,142) | (340,142) |
Debts falling due within one year |
|
(3,308,016) |
( |
Debts falling due after more than one year | - | (3,728,261) | (3,728,261) |
- | (4,567,449) | (4,567,449) | |
Freehold |
|
Plant & Machinery |
|
Motor Vehicles |
|
Fixtures & Fittings |
|
31 December 2023 | |
---|---|
£ | |
United Kingdom |
|
6,680,281 | |
31 December 2023 | |
---|---|
£ | |
Bad debts | 13,685 |
Depreciation of tangible fixed assets |
|
Amortisation of intangible fixed assets |
( |
31 December 2023 | |
---|---|
£ | |
Audit Services | |
Audit of the group and company's financial statements |
|
31 December 2023 | |
---|---|
£ | |
Wages and salaries |
|
Social security costs |
|
Other pension costs |
|
|
|
31 December 2023 | |
---|---|
Office and administration |
|
Management |
|
|
|
31 December 2023 | |
---|---|
£ | |
Emoluments |
|
31 December 2023 | |
---|---|
£ | |
Bank interest receivable |
|
31 December 2023 | |
---|---|
£ | |
Bank loans and overdrafts |
|
Factoring charges | 34,659 |
Finance charges payable under finance leases and hire purchase contracts | 21,681 |
338,797 | |
The tax credit on the profit for the period was as follows:
|
||
Tax Rate | 31 December 2023 | |
---|---|---|
31 December 2023 | £ | |
Current tax | ||
UK Corporation Tax | 25.0% |
( |
Prior period adjustment |
( |
|
( |
||
Deferred Tax | ||
Deferred taxation |
( |
|
Total tax charge for the period |
( |
|
The actual credit for the period can be reconciled to the expected charge for the period based on the profit and the standard rate of corporation tax as follows:
|
||
31 December 2023 | ||
£ | ||
Profit before tax | 467,652 | |
Tax on profit at 19% (UK standard rate) |
|
|
Capital allowances |
|
|
Short term timing differences |
|
|
Research and Development tax credit |
( |
|
Tax losses unutilised carried forward |
|
|
Unrelieved loss on disposal of operations |
( |
|
Total tax charge for the period | 285,189 | |
Goodwill | |||
---|---|---|---|
£ | |||
Cost | |||
As at 17 March 2023 |
|
||
Additions |
( |
||
As at 31 December 2023 |
( |
||
Amortisation | |||
As at 17 March 2023 |
|
||
Provided during the period |
( |
||
As at 31 December 2023 |
( |
||
Net Book Value | |||
As at 31 December 2023 |
( |
||
As at 17 March 2023 |
|
||
Land & Property | |||||
---|---|---|---|---|---|
Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
£ | £ | £ | £ | £ | |
Cost or Valuation | |||||
As at 17 March 2023 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
( |
( |
|
|
( |
As at 31 December 2023 |
|
|
|
|
|
Depreciation | |||||
As at 17 March 2023 |
|
|
|
|
|
Provided during the period |
|
|
|
|
|
Disposals |
( |
( |
|
|
( |
As at 31 December 2023 |
|
|
|
|
|
Net Book Value | |||||
As at 31 December 2023 |
|
|
|
|
|
As at 17 March 2023 |
|
|
|
|
|
31 December 2023 | |
---|---|
£ | |
Plant & Machinery |
|
Motor Vehicles |
|
|
|
31 December 2023 | |
---|---|
£ | |
Fair Value | |
As at 17 March 2023 |
|
Additions |
|
Revaluations | 1,080,000 |
Transfers |
( |
As at 31 December 2023 |
|
Associates | Listed | Total | |
---|---|---|---|
£ | £ | £ | |
Cost | |||
As at 17 March 2023 |
|
|
|
Additions |
|
|
|
Disposals |
|
( |
( |
Revaluations |
|
|
|
As at 31 December 2023 |
|
|
|
Provision | |||
As at 17 March 2023 |
|
|
- |
As at 31 December 2023 |
|
|
- |
Net Book Value | |||
As at 31 December 2023 |
|
|
|
As at 17 March 2023 |
|
|
|
Subsidiaries | |
---|---|
£ | |
Cost | |
As at 17 March 2023 |
|
Additions |
|
As at 31 December 2023 |
|
Provision | |
As at 17 March 2023 |
|
As at 31 December 2023 |
|
Net Book Value | |
As at 31 December 2023 |
|
As at 17 March 2023 |
|
Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
---|---|---|---|---|
|
The registered office address is the same as the Parent Company |
|
|
100.00% |
|
The registered office address is the same as the Parent Company |
|
|
100.00% |
|
The registered office address is the same as the Parent Company |
|
|
100.00% |
|
The registered office address is the same as the Parent Company |
|
|
- |
|
The registered office address is the same as the Parent Company |
|
|
70.00% |
|
The Whisky Bond, 2 Dawson Road, Glasgow, Scotland, G4 9SS |
|
|
60.47% |
31 December 2023 | |
---|---|
£ | |
Stock |
|
Group | Company | ||
---|---|---|---|
31 December 2023 | 31 December 2023 | ||
£ | £ | ||
Due within one year | |||
Trade debtors |
|
|
|
Other debtors | 3,221,761 | - | |
|
|
||
Group | Company | ||
---|---|---|---|
31 December 2023 | 31 December 2023 | ||
£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
|
|
|
Trade creditors |
|
|
|
Bank loans and overdrafts |
|
|
|
Corporation tax |
|
|
|
Other taxes and social security |
|
- | |
VAT |
|
- | |
Other creditors |
|
|
|
Loan notes |
|
|
|
Accruals and deferred income |
|
|
|
Amounts owed to group undertakings | - |
|
|
Amounts owed to joint ventures |
|
|
|
|
|
||
Group | ||
---|---|---|
31 December 2023 | ||
£ | ||
Net obligations under finance lease and hire purchase contracts |
|
|
Bank loans |
|
|
|
||
Group | ||
---|---|---|
31 December 2023 | ||
£ | ||
Amounts falling due within one year or on demand: | ||
Bank loans |
|
|
Group | ||
---|---|---|
31 December 2023 | ||
£ | ||
Amounts falling due between one and five years: | ||
Bank loans |
|
|
Group | ||
---|---|---|
31 December 2023 | ||
£ | ||
The future minimum finance lease payments are as follows: | ||
Not later than one year |
|
|
Later than one year and not later than five years |
|
|
|
||
|
||
31 December 2023 | |
---|---|
£ | |
Other timing differences | 1,247,066 |
Nene Group Limited
|
Qube Total Solutions Ltd
|
Total
|
||
£
|
£
|
£
|
||
Arising on business combinations
|
750,748
|
653,262
|
1,404,010
|
|
Charged to profit or loss
|
386,927
|
(543,871)
|
(156,944)
|
|
As at 31 December 2023
|
1,137,675
|
109,391
|
1,247,066
|
Net assets acquired | |||
Book Values | Adjustments | Fair Value | |
---|---|---|---|
£ | £ | £ | |
Tangible Assets | 3,858,950 | - |
|
Investment Properties | 19,478,952 | - |
|
Stocks | 645,000 | - |
|
Debtors | 3,705,393 | - |
|
Cash at bank and in hand | 1,932,890 | - |
|
Creditors: Amounts falling due within one year | (12,947,064) | (764,581) |
( |
Deferred taxation | (1,404,010) | - |
( |
Total identifiable net assets | 15,270,111 | (764,581) |
|
Goodwill |
( |
||
Total Consideration |
|
||
The consideration was satisfied by: | |||
Cash consideration paid |
|
||
Costs directly attributable to the business combination | 9,700,810 | ||
Total Consideration |
|
||
£
|
|||
Cash consideration paid
|
250,000
|
||
Loan notes issued
|
1,200,000
|
||
1,450,000
|
£
|
|||
Purchase consideration settled in cash
|
250,000
|
||
Cash and cash equivalents acquired
|
1,932,890
|
||
2,182,890
|
£
|
|||
Turnover
|
6,685,049
|
||
Profit
|
343,672
|
31 December 2023 | |
---|---|
£ | |
At the end of the period |
|
31 December 2023 | |
---|---|
£ | |
Not later than one year |
|
Later than one year and not later than five years |
|
|
|
31
December 2023
|
|||
£
|
|||
Not later than one year
|
1,182,522
|
||
Later than one year and not later than five years
|
1,970,589
|
||
Later than five years
|
|
227,500
|
|
|
3,380,611
|
As at 17 March 2023 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 December 2023 | |
---|---|---|---|---|---|
£ | £ | £ | £ | £ | |
Mr Thomas Pearson |
( |
|
( |
- |
|
Mr Thomas Pearson |
( |
|
( |
- |
|
2023
|
||
£
|
||
Gain on revaluation of investment property
|
1,080,000
|