7 false false false false true false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 20,531 171,942 14,899 4,900 9,999 xbrli:pure xbrli:shares iso4217:GBP 03020904 2023-05-01 2024-04-30 03020904 2024-04-30 03020904 2023-04-30 03020904 2022-05-01 2023-04-30 03020904 2023-04-30 03020904 2022-04-30 03020904 core:LandBuildings core:LongLeaseholdAssets 2023-05-01 2024-04-30 03020904 core:LandBuildings core:ShortLeaseholdAssets 2023-05-01 2024-04-30 03020904 core:PlantMachinery 2023-05-01 2024-04-30 03020904 core:MotorVehicles 2023-05-01 2024-04-30 03020904 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 03020904 bus:LeadAgentIfApplicable 2023-05-01 2024-04-30 03020904 bus:Director1 2023-05-01 2024-04-30 03020904 core:WithinOneYear 2024-04-30 03020904 core:WithinOneYear 2023-04-30 03020904 core:LandBuildings 2023-04-30 03020904 core:PlantMachinery 2023-04-30 03020904 core:MotorVehicles 2023-04-30 03020904 core:LandBuildings 2024-04-30 03020904 core:PlantMachinery 2024-04-30 03020904 core:MotorVehicles 2024-04-30 03020904 core:UKTax 2023-05-01 2024-04-30 03020904 core:UKTax 2022-05-01 2023-04-30 03020904 core:ShareCapital 2024-04-30 03020904 core:ShareCapital 2023-04-30 03020904 core:RetainedEarningsAccumulatedLosses 2024-04-30 03020904 core:RetainedEarningsAccumulatedLosses 2023-04-30 03020904 core:DeferredTaxation 2023-05-01 2024-04-30 03020904 core:LandBuildings 2023-05-01 2024-04-30 03020904 core:LandBuildings 2023-04-30 03020904 core:PlantMachinery 2023-04-30 03020904 core:MotorVehicles 2023-04-30 03020904 core:DeferredTaxation 2023-04-30 03020904 core:DeferredTaxation 2024-04-30 03020904 bus:LeadAgentIfApplicable 2022-05-01 2023-04-30 03020904 bus:SmallEntities 2023-05-01 2024-04-30 03020904 bus:Audited 2023-05-01 2024-04-30 03020904 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03020904 bus:FullAccounts 2023-05-01 2024-04-30 03020904 bus:OrdinaryShareClass1 2024-04-30 03020904 bus:OrdinaryShareClass1 2023-04-30 03020904 core:ComputerEquipment 2023-05-01 2024-04-30 03020904 core:ComputerEquipment 2024-04-30 03020904 core:ComputerEquipment 2023-04-30
COMPANY REGISTRATION NUMBER: 03020904
PRAXIS (LONDON) LIMITED
FINANCIAL STATEMENTS
30 April 2024
PRAXIS (LONDON) LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
Contents
Pages
Strategic report
1
Director's report
2 to 3
Independent auditor's report to the members
4 to 7
Statement of comprehensive income
8
Statement of financial position
9
Statement of cash flows
10
Notes to the financial statements
11 to 17
PRAXIS (LONDON) LIMITED
STRATEGIC REPORT
YEAR ENDED 30 APRIL 2024
This report was approved by the board of directors on 19 December 2024 and signed on behalf of the board by:
M M Waters Director
PRAXIS (LONDON) LIMITED
DIRECTOR'S REPORT
YEAR ENDED 30 APRIL 2024
The director presents his report and the financial statements of the company for the year ended 30 April 2024 .
Director
The director who served the company during the year was as follows:
M M Waters
Dividends
The director does not recommend the payment of a dividend.
Disclosure of information in the strategic report
*** Enter text in reportpads > Directors Report > StrategicReport ***
Director's responsibilities statement
The director is responsible for preparing the strategic report, director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is 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. He is 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. Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board of directors on 19 December 2024 and signed on behalf of the board by:
M M Waters Director
PRAXIS (LONDON) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PRAXIS (LONDON) LIMITED
YEAR ENDED 30 APRIL 2024
Opinion
We have audited the financial statements of Praxis (London) Limited (the 'company') for the year ended 30 April 2024 which comprise the statement of comprehensive income, statement of financial position, statement of cash flows and the related notes, including a summary of 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: - give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.
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 director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 the audit:
- the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.
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 strategic report or the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.
Responsibilities of the director
As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 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: We identify and assess the key risk areas of material misstatement and then design and perform audit procedures in relation to those risks. Materiality has been calculated based on the average of the income and profit for the year and has been assessed at a level of £22,500. The considered key risk areas and appropriate audit approaches were as follows: - Accuracy and recoverability of debtors - Reviewed after date transactions as well as sales invoices around the year end to ensure all invoices were recorded in the correct period and have been recovered post year end. - Complexness and accuracy of creditors - Reviewed after date transactions as well as purchase invoices around the year end to ensure all invoices were recorded in the correct period and have been paid post year end. - Recognition of income - Completed walkthrough tests from the earliest point through to the nominal ledger, ensuring the invoices are raised on a timely manner and are accurately recorded. - Complexness of expenditure - Completed walk through tests from minimal ledger through to supporting documentation, ensuring the costs recorded in the financial statements are accurate and free from material misstatement. - Risk of management overrride - Reviewed accounts data for any large and unusual items and completed detailed reviewed of journals posted during the year. We reviewed the financial statement disclosures and assessed compliance with the following relevant laws and regulations; - Health and Safety at work Act 1974. Irregularities which result from fraud are inherently more difficult to detect than irregularities which result from error, however there have never been any instances of fraud encountered with the company and there are controls in place through the segregation of duties and regular reviews of management accounts which reduce the risk of fraud through management override. All audit team members were made aware of the relevant laws & regulations applicable to the company together with potential fraud risks and remained alert to any indications of fraud non compliance with the laws & regulations throughout the audit. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - 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. 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. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 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. 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.
Philip Benson Woodman FCCA
(Senior Statutory Auditor)
For and on behalf of
Opass Billings Wilson & Honey LLP
Chartered Certified Accountants & Statutory Auditor
Numeric House
98 Station Road
Sidcup
Kent
DA15 7BY
19 December 2024
PRAXIS (LONDON) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
YEAR ENDED 30 APRIL 2024
2024
2023
Note
£
£
Turnover
4
848,002
1,275,420
Cost of sales
456,436
701,222
---------
------------
Gross profit
391,566
574,198
Administrative expenses
368,873
358,807
---------
---------
Operating profit
5
22,693
215,391
Interest receivable
8
6,841
Interest payable
9
2,160
1,800
---------
---------
Profit before taxation
27,374
213,591
Taxation on ordinary activities
10
6,843
41,649
--------
---------
Profit for the financial year and total comprehensive income
20,531
171,942
--------
---------
All the activities of the company are from continuing operations.
PRAXIS (LONDON) LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
11
39,994
59,594
Current assets
Stocks
12
14,844
15,780
Debtors
13
353,556
526,181
Cash at bank and in hand
68,310
49,420
---------
---------
436,710
591,381
Creditors: amounts falling due within one year
14
154,869
344,771
---------
---------
Net current assets
281,841
246,610
---------
---------
Total assets less current liabilities
321,835
306,204
Provisions
Taxation including deferred tax
15
9,999
14,899
---------
---------
Net assets
311,836
291,305
---------
---------
Capital and reserves
Called up share capital
18
500
500
Profit and loss account
19
311,336
290,805
---------
---------
Shareholders funds
311,836
291,305
---------
---------
These financial statements were approved by the board of directors and authorised for issue on 19 December 2024 , and are signed on behalf of the board by:
M M Waters
Director
Company registration number: 03020904
PRAXIS (LONDON) LIMITED
STATEMENT OF CASH FLOWS
YEAR ENDED 30 APRIL 2024
2024
2023
£
£
Cash flows from operating activities
Profit for the financial year
20,531
171,942
Adjustments for:
Depreciation of tangible assets
19,600
16,359
Interest receivable
( 6,841)
Interest payable
2,160
1,800
Gains on disposal of tangible assets
( 1,799)
Taxation on ordinary activities
6,843
41,649
Accrued (income)/expenses
( 23,632)
39,607
Changes in:
Stocks
936
( 2,674)
Trade and other debtors
172,625
( 346,754)
Trade and other creditors
( 111,703)
65,652
---------
---------
Cash generated from operations
80,519
( 14,218)
Interest paid
( 2,160)
( 1,800)
Interest received
6,841
Tax paid
( 26,750)
( 3,434)
--------
--------
Net cash from/(used in) operating activities
58,450
( 19,452)
--------
--------
Cash flows from investing activities
Purchase of tangible assets
( 75,953)
Proceeds from sale of tangible assets
1,799
--------
--------
Net cash used in investing activities
( 74,154)
--------
--------
Cash flows from financing activities
Proceeds from loans from group undertakings
( 39,560)
( 100,440)
--------
---------
Net cash used in financing activities
( 39,560)
( 100,440)
--------
---------
Net increase/(decrease) in cash and cash equivalents
18,890
( 194,046)
Cash and cash equivalents at beginning of year
49,420
243,466
--------
---------
Cash and cash equivalents at end of year
68,310
49,420
--------
---------
PRAXIS (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Numeric House, 98 Station Road, Sidcup, Kent, DA15 7BY.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment at each year end date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.
Statement of cash flows
The company has taken advantage of the small companies exemptions and not prepared a statement of cash flows.
Judgements and key sources of estimation uncertainty
There are no significant estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Turnover is measured at fair value of consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Workshop Fixtures and Fittings
-
25% straight line
Office Fixtures and Fittings
-
25% straight line
Production Equipment
-
33% straight line
Motor Vehicles
-
20% straight line
Office Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
The stock is valued at the lower of cost and net realisable value on a first in first out basis.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Operating profit
Operating profit or loss is stated after charging/crediting:
2024
2023
£
£
Depreciation of tangible assets
19,600
16,359
Gains on disposal of tangible assets
( 1,799)
--------
--------
Operating profit or loss is the profit or loss from business operations before deduction of interest and taxes.
6. Auditor's remuneration
2024
2023
£
£
Fees payable for the audit of the financial statements
5,950
5,000
-------
-------
7. Particulars of employees
The average number of persons employed by the company during the year, including the director, amounted to:
2024
2023
No.
No.
Administrative staff
7
7
----
----
The aggregate payroll costs incurred during the year, relating to the above, were:
2024
2023
£
£
Wages and salaries
282,038
291,251
Social security costs
27,431
32,798
Other pension costs
5,214
4,719
---------
---------
314,683
328,768
---------
---------
8. Interest receivable
2024
2023
£
£
Interest on cash and cash equivalents
6,841
-------
----
9. Interest payable
2024
2023
£
£
Other interest payable and similar charges
2,160
1,800
-------
-------
10. Taxation on ordinary activities
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
11,743
26,750
Deferred tax:
Origination and reversal of timing differences
( 4,900)
14,899
-------
--------
Taxation on ordinary activities
6,843
41,649
-------
--------
11. Tangible assets
Workshop fixtures and fittings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 May 2023 and 30 April 2024
41,768
262,820
17,606
27,006
349,200
--------
---------
--------
--------
---------
Depreciation
At 1 May 2023
40,699
220,434
1,467
27,006
289,606
Charge for the year
1,069
14,129
4,402
19,600
--------
---------
--------
--------
---------
At 30 April 2024
41,768
234,563
5,869
27,006
309,206
--------
---------
--------
--------
---------
Carrying amount
At 30 April 2024
28,257
11,737
39,994
--------
---------
--------
--------
---------
At 30 April 2023
1,069
42,386
16,139
59,594
--------
---------
--------
--------
---------
12. Stocks
2024
2023
£
£
Raw materials
14,844
15,780
--------
--------
13. Debtors
2024
2023
£
£
Trade debtors
104,224
245,104
Amounts owed by group undertakings
225,000
250,000
Prepayments and accrued income
24,332
31,077
---------
---------
353,556
526,181
---------
---------
14. Creditors: amounts falling due within one year
2024
2023
£
£
Payments received on account
81,676
Trade creditors
80,205
112,039
Amounts owed to group undertakings
39,560
Accruals and deferred income
31,051
54,683
Corporation tax
11,743
26,750
Social security and other taxes
30,661
25,084
Other creditors
1,209
4,979
---------
---------
154,869
344,771
---------
---------
15. Provisions
Deferred tax (note 16)
£
At 1 May 2023
14,899
Charge against provision
( 4,900)
--------
At 30 April 2024
9,999
--------
16. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 15)
9,999
14,899
-------
--------
17. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 5,214 (2023: £ 4,719 ).
18. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
500
500
500
500
----
----
----
----
19. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
20. Analysis of changes in net debt
At 1 May 2023
Cash flows
At 30 Apr 2024
£
£
£
Cash at bank and in hand
49,420
18,890
68,310
Debt due within one year
(39,560)
39,560
--------
--------
--------
9,860
58,450
68,310
--------
--------
--------
21. Ultimate parent company
The company’s ultimate parent undertaking is V R Holdings Limited, a company registered in England & Wales.