DATASCOPE (HOLDINGS) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Company Registration No. 11136439 (England and Wales)
DATASCOPE (HOLDINGS) LIMITED
COMPANY INFORMATION
Director
Mr A Butt
Secretary
Mr S Jones
Company number
11136439
Registered office
Access House
Aviation Park
Flint Road
Chester
CH4 0GZ
Auditor
DSG Audit
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
DATASCOPE (HOLDINGS) LIMITED
CONTENTS
Page
Strategic report
1 - 2
Director's report
3 - 4
Director's 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
DATASCOPE (HOLDINGS) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

The director presents the strategic report for the year ended 30 April 2024.

Principal activities

The principal activity of the group continued to be that of the hire and supply of access control solutions and supporting data systems. The principal activity of the company continued to be that of a holding company.

Review of the business

As shown in the consolidated statement of comprehensive income, revenue for the year has increased by 13.4%. However, profit before tax has decreased from £866,592 to £658,137. This reduction is in line with planned investment in the future. In the challenging market conditions that existed in the year the director considers this to be a very strong performance.

 

The group continues to maintain strong controls over fixed costs and other overheads whilst also investing in development to enable it to achieve its profitability targets.

Principal risks and uncertainties

There are a number of risks and uncertainties that can impact on the performance of group, some of which are beyond the control the group.

 

The group monitors market trends and risks on an ongoing basis and takes corrective action as and when required.

 

Competitive pressure in all the markets it operates in are an ongoing risk to the group. To manage this risk the group maintains strong relationships with its customers with high levels of customer service and product quality, range and value.

 

Fluctuations in the price and supply of key raw materials as well as the availability of staff with key skills may also affect the profitability of the group. Purchasing policies and practices mitigate, where practicable, these risks. Post year end the group has continued to trade well.

 

Liquidity, foreign currency and credit risks are set out in the director's report.

Key performance indicators

Key performance indicators continue to be used throughout the group, and the financial indicators such as turnover, gross profit margin, profit before tax, trade debtors and levels of new site installations are set out in the body of the accounts.

 

The cash balance at the year end was positive and the group maintains strong cash control which has enabled it to meet its obligations to suppliers and other creditors as they fall due.

 

The director also considers other non-financial indicators to monitor the performance of the group. These include the group’s ability to react to market conditions and opportunities with a flexible approach to their service capabilities.

 

Measure        2024        2023

Turnover        £11.2m        £9.8m

Gross profit        £9.1m        £8.5m

Operating profit        £0.7m        £0.9m

DATASCOPE (HOLDINGS) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
Other performance indicators

Research and development - the group continues with a robust policy to develop new products to enhance its position in the marketplace.

Employees - the group continues to invest in its strategies for the training, development and retention of employees. Average headcount for 2024 was 104 (2023: 93).

 

Future developments

On 15 August 2024 the group secured investment from BGF, one of the largest growth capital investors in the UK and Ireland. The investment was made through a new holding company and as part of the investment Datascope (Holdings) Limited, the ultimate parent company of Datascope Systems Limited, was acquired by Datascope Topco Limited.

On behalf of the board

Mr A Butt
Director
11 December 2024
DATASCOPE (HOLDINGS) LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -

The director presents his annual report and financial statements for the year ended 30 April 2024.

Branches

The group has foreign branches located in the Netherlands, USA and Spain which did not trade during the year. Another foreign branch located in Australia had minimal trading in the year.

Results and dividends

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

Ordinary dividends were paid amounting to £825,360. The director does not recommend payment of a further dividend.

Director

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

Mr A Butt
Financial instruments
Liquidity risk

The group manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the group has sufficient liquid resources to meet the operating needs of the business.

Foreign currency risk

The group’s principal foreign currency exposures arise from trading with overseas companies. Group policy permits but does not demand that these exposures may be hedged in order to fix the cost in sterling.

Credit risk

Investments of cash surpluses are made through banks and companies which must fulfil credit rating criteria approved by the Board.

 

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Post reporting date events

On 15 August 2024 the Company secured investment from BGF, one of the largest growth capital investors in the UK and Ireland. The investment was made through a new holding company and as part of the investment Datascope (Holdings) Limited, the ultimate parent company of Datascope Systems Limited, was acquired by Datascope Topco Limited.

Future developments

The group takes a long term view of its business and continues to invest in products, infrastructure and people. This investment, together with the innovative approach we have developed to serving customers in the construction and related industries, is key to our future success.

Auditor

DSG resigned as auditor on 11 September 2024. DSG Audit were appointed on 11 September 2024 as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

DATASCOPE (HOLDINGS) LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 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.

Strategic report

The group and company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

Medium-sized companies exemption

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

On behalf of the board
Mr A Butt
Director
11 December 2024
DATASCOPE (HOLDINGS) LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -

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

 

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

 

 

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

DATASCOPE (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DATASCOPE (HOLDINGS) LIMITED
- 6 -
Opinion

We have audited the financial statements of Datascope (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 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 director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

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

 

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

Other information

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

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

DATASCOPE (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DATASCOPE (HOLDINGS) 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 director's report.

 

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

Responsibilities of director

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

Auditor's responsibilities for the audit of the financial statements

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

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.

Discussions were held with, and enquiries made of, management and those charged with governance with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the parent company and the group.

The following laws and regulations were identified as being of significance to the parent company and the group:

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the parent company and the group complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of entries in the nominal ledger, including journal entries which could be indicative of fraud; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.

DATASCOPE (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DATASCOPE (HOLDINGS) LIMITED
- 8 -

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the parent company and the group's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error.  As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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

Use of our report

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

Jean Ellis BA FCA CTA (Senior Statutory Auditor)
For and on behalf of DSG Audit, Statutory Auditor
Chartered Accountants
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
11 December 2024
DATASCOPE (HOLDINGS) LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024
- 9 -
2024
2023
Notes
£
£
Turnover
3
11,170,543
9,847,178
Cost of sales
(2,007,233)
(1,362,459)
Gross profit
9,163,310
8,484,719
Administrative expenses
(8,454,485)
(7,267,036)
Other operating income
5,346
13,516
Exceptional item
4
-
0
(308,167)
Operating profit
5
714,171
923,032
Interest receivable and similar income
8
548
60
Interest payable and similar expenses
9
(56,582)
(56,500)
Profit before taxation
658,137
866,592
Tax on profit
10
(92,204)
(252,141)
Profit for the financial year
26
565,933
614,451
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.

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

DATASCOPE (HOLDINGS) LIMITED
GROUP BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
13
4,777,533
5,052,026
Investment property
14
258,394
258,394
5,035,927
5,310,420
Current assets
Stocks
17
15,954
5,490
Debtors
18
4,410,556
5,252,542
Cash at bank and in hand
1,291,705
530,188
5,718,215
5,788,220
Creditors: amounts falling due within one year
19
(1,643,037)
(2,042,678)
Net current assets
4,075,178
3,745,542
Total assets less current liabilities
9,111,105
9,055,962
Creditors: amounts falling due after more than one year
20
(303,602)
(563,685)
Provisions for liabilities
Deferred tax liability
23
1,022,825
1,081,613
(1,022,825)
(1,081,613)
Deferred income
22
(3,289,180)
(2,655,740)
Net assets
4,495,498
4,754,924
Capital and reserves
Called up share capital
25
1,000
1,000
Profit and loss reserves
26
4,494,498
4,753,924
Total equity
4,495,498
4,754,924

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved and signed by the director and authorised for issue on 11 December 2024
11 December 2024
Mr A Butt
Director
Company registration number 11136439 (England and Wales)
DATASCOPE (HOLDINGS) LIMITED
COMPANY BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
15
750
750
Current assets
Debtors
18
1,000
1,000
Creditors: amounts falling due within one year
19
(750)
(750)
Net current assets
250
250
Net assets
1,000
1,000
Capital and reserves
Called up share capital
25
1,000
1,000

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 £825,360 (2023 - £90,000 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved and signed by the director and authorised for issue on 11 December 2024
11 December 2024
Mr A Butt
Director
Company registration number 11136439 (England and Wales)
DATASCOPE (HOLDINGS) LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 May 2022
1,000
4,229,473
4,230,473
Year ended 30 April 2023:
Profit and total comprehensive income
-
614,451
614,451
Dividends
11
-
(90,000)
(90,000)
Balance at 30 April 2023
1,000
4,753,924
4,754,924
Year ended 30 April 2024:
Profit and total comprehensive income
-
565,933
565,933
Dividends
11
-
(825,359)
(825,359)
Balance at 30 April 2024
1,000
4,494,498
4,495,498
DATASCOPE (HOLDINGS) LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 May 2022
1,000
-
0
1,000
Year ended 30 April 2023:
Profit and total comprehensive income for the year
-
90,000
90,000
Dividends
11
-
(90,000)
(90,000)
Balance at 30 April 2023
1,000
-
0
1,000
Year ended 30 April 2024:
Profit and total comprehensive income
-
825,360
825,360
Dividends
11
-
(825,360)
(825,360)
Balance at 30 April 2024
1,000
-
0
1,000
DATASCOPE (HOLDINGS) LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024
- 14 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
32
2,795,432
1,574,473
Interest paid
(56,582)
(56,500)
Income taxes paid
(62,473)
(222,389)
Net cash inflow from operating activities
2,676,377
1,295,584
Investing activities
Purchase of tangible fixed assets
(1,197,050)
(1,276,623)
Proceeds from disposal of tangible fixed assets
367,084
172,386
Interest received
548
60
Net cash used in investing activities
(829,418)
(1,104,177)
Financing activities
Repayment of borrowings
-
(100,000)
Repayment of bank loans
(260,083)
(259,701)
Payment of finance leases obligations
-
(50,755)
Dividends paid to equity shareholders
(825,359)
(90,000)
Net cash used in financing activities
(1,085,442)
(500,456)
Net increase/(decrease) in cash and cash equivalents
761,517
(309,049)
Cash and cash equivalents at beginning of year
530,188
839,237
Cash and cash equivalents at end of year
1,291,705
530,188
DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 15 -
1
Accounting policies
Company information

Datascope (Holdings) Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Access House, Aviation Park, Flint Road, Chester, CH4 0GZ.

 

The group consists of Datascope (Holdings) Limited and all of its subsidiaries.

 

The principal activities of the group and company are disclosed in the Strategic Report.

1.1
Accounting convention

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

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

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

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.

DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 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 Datascope (Holdings) Limited together with all entities controlled by the parent company (its subsidiaries).

 

All financial statements are made up to 30 April 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.

1.4
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the group and company has adequate resources to continue in operational existence for the foreseeable future. The group and company regularly reviews management accounts and future cash requirements, and this demonstrates that the group and company has sufficient reserves and can operate within its existing banking facilities. As such, the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.5
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 and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 

Turnover in respect of equipment hire is recognised on a straight line basis over the period of the hire net of VAT and trade discounts. Income received in advance is included within deferred income.

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.

 

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.

DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 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
4% straight line
Plant and equipment
10% - 25% straight line
Fixtures and fittings
25% straight line
Computer equipment
33.33% straight line
Motor vehicles
25% - 50% straight line
Other assets
10% 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
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.9
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.

1.10
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.

DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 18 -

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

1.11
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

1.12
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.

1.13
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.

DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 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 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.

 

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.

Derecognition of financial liabilities

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

1.14
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.

1.15
Taxation

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

DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 20 -
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.

1.16
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.

1.17
Retirement benefits

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

1.18
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

1.19
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 21 -
2
Judgements and key sources of estimation uncertainty

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

 

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

Critical judgements

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

Depreciation of tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Hire and supply of software & equipment
11,170,543
9,847,178
2024
2023
£
£
Turnover analysed by geographical market
UK
7,723,403
7,489,687
Rest of Europe
3,006,461
1,950,213
Rest of the World
440,679
407,278
11,170,543
9,847,178
2024
2023
£
£
Other revenue
Interest income
548
60
DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 22 -
4
Exceptional item
2024
2023
£
£
Expenditure
Professional fees
-
308,167

Exceptional costs incurred in the prior period relate to one-off potential reorganisation costs.

5
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging:
Exchange losses
49,646
101,014
Auditors' remuneration
1,250
1,000
Depreciation of owned tangible fixed assets
1,104,459
946,078
Operating lease charges
341,346
262,131
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
Sales and marketing
18
12
-
-
Research and development
23
23
-
-
Engineering
29
29
-
-
Administration
7
6
-
-
Warehouse
3
3
-
-
Developers and help desk
21
19
-
-
Project management
3
1
-
-
Total
104
93
-
0
-
0

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
4,276,639
3,677,867
-
0
-
0
Social security costs
473,802
398,074
-
-
Pension costs
124,488
111,431
-
0
-
0
4,874,929
4,187,372
-
0
-
0
DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 23 -
7
Director's remuneration
2024
2023
£
£
Remuneration for qualifying services
132,924
116,983
Company pension contributions to defined contribution schemes
5,500
13,144
138,424
130,127
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
548
60
9
Interest payable and similar expenses
2024
2023
£
£
Interest on finance leases and hire purchase contracts
-
9
Other interest
56,582
56,491
Total finance costs
56,582
56,500
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
239,259
99,690
Adjustments in respect of prior periods
(88,267)
73,861
Total current tax
150,992
173,551
Deferred tax
Origination and reversal of timing differences
(58,788)
49,337
Changes in tax rates
-
0
13,937
Adjustment in respect of prior periods
-
0
15,316
Total deferred tax
(58,788)
78,590
Total tax charge
92,204
252,141
DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
10
Taxation
(Continued)
- 24 -

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
658,137
866,592
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
164,534
216,648
Adjustments in respect of prior years
(88,267)
89,177
Deferred tax rate change
-
0
13,937
Permanent differences
15,937
(67,621)
Taxation charge
92,204
252,141
11
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Final paid
825,360
90,000
12
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
62,000
Amortisation and impairment
At 1 May 2023 and 30 April 2024
62,000
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0
The company had no intangible fixed assets at 30 April 2024 or 30 April 2023.
DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 25 -
13
Tangible fixed assets
Group
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computer equipment
Motor vehicles
Other assets
Total
£
£
£
£
£
£
£
Cost
At 1 May 2023
426,989
9,086,934
42,403
334,760
312,220
250,000
10,453,306
Additions
27,824
1,141,769
-
0
17,924
9,533
-
0
1,197,050
Disposals
-
0
(440,738)
-
0
(3,260)
-
0
-
0
(443,998)
At 30 April 2024
454,813
9,787,965
42,403
349,424
321,753
250,000
11,206,358
Depreciation and impairment
At 1 May 2023
41,580
4,681,924
31,100
286,594
297,582
62,500
5,401,280
Depreciation charged in the year
17,080
1,015,771
4,450
39,980
2,178
25,000
1,104,459
Eliminated in respect of disposals
-
0
(74,197)
-
0
(2,717)
-
0
-
0
(76,914)
At 30 April 2024
58,660
5,623,498
35,550
323,857
299,760
87,500
6,428,825
Carrying amount
At 30 April 2024
396,153
4,164,467
6,853
25,567
21,993
162,500
4,777,533
At 30 April 2023
385,409
4,405,010
11,303
48,166
14,638
187,500
5,052,026
The company had no tangible fixed assets at 30 April 2024 or 30 April 2023.
DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 26 -
14
Investment property
Group
Company
2024
2024
£
£
Fair value
At 1 May 2023 and 30 April 2024
258,394
-

The group acquired investment property in July 2021. The directors have assessed the property's value at 30 April 2024 and deemed that the current value is appropriate.

15
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
16
-
0
-
0
750
750
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 May 2023 and 30 April 2024
750
Carrying amount
At 30 April 2024
750
At 30 April 2023
750
16
Subsidiaries

Details of the company's subsidiaries at 30 April 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Datascope Systems Limited
Access House Aviation Park, Flint Road, Saltney Ferry, Chester, United Kingdom, CH4 0GZ
Ordinary shares
100.00
-
Datascope Systems US, Inc.
Ordinary shares
-
100.00
Datascope Systems B.V.
Ordinary shares
-
100.00
Datascope Systems ES
Ordinary shares
-
100.00
Datascope Systems Pty
Ordinary shares
-
100.00

Datascope Systems US, Inc., Datascope Systems B.V.and Datascope Systems ES did not trade in the year.

DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 27 -
17
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Finished goods and goods for resale
15,954
5,490
-
0
-
0
18
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,735,602
2,479,012
-
0
-
0
Corporation tax recoverable
51,050
-
0
-
0
-
0
Other debtors
684,142
954,625
1,000
1,000
Prepayments and accrued income
1,939,762
1,818,905
-
0
-
0
4,410,556
5,252,542
1,000
1,000

Included within other debtors is A Butt's director's loan account, which was overdrawn at the year end date by £663,856 (2023: £735,359). The maximum overdrawn balance during the year was £1,061,418. The year end balance has been cleared in full post year end.

19
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
21
260,000
260,000
-
0
-
0
Trade creditors
595,929
1,152,561
-
0
-
0
Corporation tax payable
239,259
99,690
-
0
-
0
Other taxation and social security
251,042
102,728
-
-
Other creditors
750
750
750
750
Accruals
296,057
426,949
-
0
-
0
1,643,037
2,042,678
750
750
20
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
21
303,602
563,685
-
0
-
0
DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 28 -
21
Loans
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
563,602
823,685
-
0
-
0
Payable within one year
260,000
260,000
-
0
-
0
Payable after one year
303,602
563,685
-
0
-
0

Bank loans relate to a bank loan provided by Barclays Bank UK Plc under the Coronavirus Business Interruption Loan Scheme (CBILS) which is a UK government backed loan scheme whereby the government provides a limited guarantee to the bank for up to 80% of the loan value. The loan of £1,300,000 is repayable in 60 instalments commencing 12 months after the draw down date (June 2020). The interest is calculated on a floating rate basis. The interest cost for the first 12 months of the term of the loan is met by the UK government.

22
Deferred income
Group
Company
2024
2023
2024
2023
£
£
£
£
Other deferred income
3,289,180
2,655,740
-
-

Included within deferred income is an amount due in less than one year of £2,270,597 (2023: £1,894,230).

23
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
1,022,825
1,081,613
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 May 2023
1,081,613
-
Credit to profit or loss
(58,788)
-
Liability at 30 April 2024
1,022,825
-
DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 29 -
24
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
124,488
111,431

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.

25
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
950
950
950
950
'A' Ordinary shares of £1 each
50
50
50
50
1,000
1,000
1,000
1,000
26
Reserves
Own shares

Called up share capital represents the nominal value of shares that have been issued.

Profit and loss reserves

Profit and loss reserves includes all current and prior year retained profits and losses including dividends.

27
Operating lease commitments
Lessee

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
175,057
103,182
-
-
Between two and five years
148,257
44,445
-
-
323,314
147,627
-
-
28
Events after the reporting date

On 15 August 2024 the Company secured investment from BGF, one of the largest growth capital investors in the UK and Ireland. The investment was made through a new holding company and as part of the investment Datascope (Holdings) Limited, the ultimate parent company of Datascope Systems Limited, was acquired by Datascope Topco Limited.

DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 30 -
29
Related party transactions

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

 

CCB Property Partnership LLP is controlled by Colin Butt, the father of one of the directors. During the year, the company made purchases from CCB Property Partnership LLP totalling £227,097 (2023: £161,074) and made sales to CCB Property Partnership LLP of £7,604 (2023: £nil). At 30 April 2024, the company owed £23,983 (2023: £39,022) to CCB Property Partnership LLP and was owed £7,604 (2023: £nil) by CCB Property Partnership LLP.

Other information

The company has taken advantage of the reduced disclosure exemption available under Financial Reporting Standard 102 relating to the disclosure of related party transactions between wholly owned group companies.

 

No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.

30
Directors' transactions

Dividends totalling £90,000 (2023 - £90,000) were paid in the year in respect of shares held by the company's directors.

31
Controlling party

In August 2024, following the investment from BGF, the ultimate parent company changed to Datascope Topco Limited.

 

The ultimate controlling party is Mr A Butt.

32
Cash generated from group operations
2024
2023
£
£
Profit after taxation
565,933
614,451
Adjustments for:
Taxation charged
92,204
252,141
Finance costs
56,582
56,500
Investment income
(548)
(60)
Depreciation and impairment of tangible fixed assets
1,104,459
946,078
Increase in deferred income
633,440
801,632
Movements in working capital:
Increase in stocks
(10,464)
-
Decrease/(increase) in debtors
893,036
(1,949,489)
(Decrease)/increase in creditors
(539,210)
853,220
Cash generated from operations
2,795,432
1,574,473
DATASCOPE (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 31 -
33
Analysis of changes in net funds/(debt) - group
1 May 2023
Cash flows
30 April 2024
£
£
£
Cash at bank and in hand
530,188
761,517
1,291,705
Borrowings excluding overdrafts
(823,685)
260,083
(563,602)
(293,497)
1,021,600
728,103
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