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REGISTERED NUMBER: 10077929 (England and Wales)












S J BARGH GROUP LIMITED

GROUP STRATEGIC REPORT, DIRECTORS' REPORT AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Group Strategic Report 2

Directors' Report 4

Independent Auditors' Report 7

Consolidated Statement of Income and Retained
Earnings

10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 16


S J BARGH GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







Directors: Mrs R M Towers
Mrs R K Thomas
Mr T J Lloyd
Mr M J Sidley
Mr M D Hestford



Secretary: Mr M D Hestford



Registered office: Head Office
Caton Road
LANCASTER
LA1 3PE



Business address: S J Bargh Ltd
Caton Road
LANCASTER
LA1 3PE



Registered number: 10077929 (England and Wales)



Auditors: Xeinadin Audit Limited
Accountants and Statutory Auditors
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Bankers: Barclays Bank Plc
LEICESTER
LE87 2BB



Accountants: Xeinadin
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024


The directors present their strategic report of the company and the group for the year ended 30 April 2024.

Review of business
Our review is consistent with the size and nature of our business and is written in the context of the risks and uncertainties we face.

The principal activity of S J Bargh Group Ltd is property investment which supports its subsidiary companies.

The overall trading Group supplies its services to the milk, pallet and general haulage sector with complementary services in warehousing, driver training and mechanical parts and servicing.

The logistics sector continues to navigate increased staffing costs and fuel price volatility.

Milk market conditions continue to be challenging, which can lead to additional costs which are not recoverable.

The management team continues to focus on efficiencies, specifically the ongoing rationalisation of out based sites, farm collection route planning, investment in larger vehicles, and through the adoption of technology.

The Directors report a Group consolidated operating profit of £1,606,474 (2023: £1,569,314) and profit before tax of £1,186,548 (2023: £1,340,011). The Directors overall were satisfied with the Company's financial performance given challenging trading conditions for which increases in the cost base continue to be an area of concern.

The Directors are confident the Group's strong balance sheet reserves place it in a good position to continue to meet unprecedented demands and challenges faced on a daily basis resulting from an ever changing marketplace and the UK's uncertain economic outlook.

The diversity present in the Group's activities remains strategically beneficial.

Principal risks and uncertainties
As for many businesses in our sector, the business environment in which we operate has become very challenging. Consequently with these challenges and uncertainties in mind we are aware that any plans for future development of our business may be subject to unforeseen future events outside our control.


S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024

Section 172(1) statement
Under S.172 of the Companies Act 2006 directors of UK companies have a duty to promote the success of their Group for the benefit of the members as a whole and, in doing so, have regard to:

a. the likely consequences of any decision in the long term;
b. the interests of the company's employees;
c. the need to foster the company's business relationships with suppliers, customers and others;
d. the impact of the company's operations on the community and the environment;
e. the desirability of the company maintaining a reputation for high standards of business conduct; and
f. the need to act fairly between members of the Group and it's subsidiaries.

The Group consisting of well-established trading entities prides itself on being a long serving logistics provider in the milk, pallet and general haulage sector. It has over many years built up an admirable reputation for its quality of service and can-do attitude. The biggest asset of the Group is its workforce who are dedicated and highly trained and the Group continues to innovate and grow based on its strong heritage and financial strength. The directors consider the following areas to be of key importance in its fulfilment of this duty:

- carrying out detailed planning and forecasting to ensure the ongoing financial safety and continued growth of the business;
- investing in our employees by providing high quality training and continued development and support;
- maintaining the highest standards of integrity and honesty in the company's dealings with employees, customers, suppliers, the general public and local and national government;
- prioritising the maintenance of the highest standards of health and safety and environmental protection through investment in training, equipment and staff awareness;
- working with the local community and listening to their views and feedback and investing in projects to help support local good causes; and
- identifying new and innovative solutions to reducing the impact of our business on the environment
by reducing our carbon consumption, water usage and waste production; and
- investing in new technology and practices to improve efficiencies in collaboration with our customers and suppliers.

On behalf of the board:





Mr M D Hestford - Director


12 December 2024

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024


The directors present their report with the financial statements of the company and the group for the year ended 30 April 2024.

Dividends
An interim dividend of £130.11 per share was paid on 12 December 2023. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 April 2024 will be £ 280,907 .

Directors
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

Mrs R M Towers
Mrs R K Thomas
Mr T J Lloyd

Other changes in directors holding office are as follows:

Mr M J Sidley and Mr M D Hestford were appointed as directors after 30 April 2024 but prior to the date of this report.

Mrs T M Park and Mr G N Richardson ceased to be directors after 30 April 2024 but prior to the date of this report.

Employment of disabled persons
The group gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the group's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.

Employee involvement
During the year, the policy of providing employees with information about the group has been continued through internal media methods in which employees have also been encouraged to present their suggestions and views on the groups performance. Meetings are held between local management and employees to allow a free flow of information and ideas.

Engagement with suppliers, customers and others
Maintaining relations with our customers is paramount to the successful running of the business with regular engagement playing a key part of our commercial strategy. The Group has a long-standing supplier base and honours good service through maintaining excellent payment practices.



















S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024

Streamlined energy and carbon reporting
Stated below is the mandatory reporting of energy and greenhouse gas emissions for the period 1st May 2023 to 30th April 2024, pursuant to the Companies (Director's Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.

Our methodology to calculate our greenhouse gas emissions is based on the GHG Protocol. The SJ Bargh Group declaration is produced using 100% verifiable data coverage with no estimations required.

Our energy management and sustainability program is ongoing. We continually challenge our current methodology to identify opportunities in reducing our energy consumption. We work with energy consultants and providers within the energy management industry to identify continuous improvement.

Below includes total energy consumption (reported as kWh) and greenhouse gas emissions for the sources required by the regulations, along with our intensity ratio.

Emissions breakdown by scope 2023-24 Emissions Base Year UK Emissions
tCO2e tCO2e
Scope 1 22,042.22 22,375.17
Gas 40.39 59.91
Controlled Vehicles (HGV Fleet) 21,514.80 21,900.37
Controlled vehicles (<3.5t) 134.48 85.67
Controlled vehicles (fleet cars) 8.65 16.47
Controlled vehicles (on site) 60.45 -
Other fuels, Propane 26.58 16.79
Other Fuels, Kerosene, Buildings 96.49 99.07
Other fuels, Kerosene, CIP 160.39 196.88

Scope 2 (Electricity - location based) 160.90 200.02
Scope 3 (Grey fleet) 30.37 37.03

Total Gross tCO2e 22,233.49 22,612.2

tC02e/£m Turnover 418.14 423.82
Intensity Metric: tCO2e/No of HGV's 91.87 89.02

Scope 1: Controlled Vehicles, HGV -
kWh

90,020,070

90,816,362
Scope 1: Controlled Vehicles <3.5t -
kWh

562,690

355,274
Scope 1: Controlled Vehicles, Fleet cars
- kWh

36,178

68,302
Scope 1: Controlled Vehicles, On site -
kWh

252,929

Scope 1: Onsite Fuels (Mains Gas) -
kWh

220,815

242,859
Scope 1: Onsite Fuels (Other, kerosene,
buildings) - kWh

390,999

401,457
Scope 1: Onsite Fuels (Other, kerosene,
CIP) - kWh

649,947

797,845
Scope 1: Onsite fuels (Other, Propane) -
kWh

124,217

78,416
Scope 2: Electricity - kWh 777,035 1,034,324
Scope 3: Grey Fleet Transport, Diesel -
kWh

91,063

106,179
Scope 3: Grey Fleet Transport - kWh 38,835 50,247

Total UK Energy Consumption (kWh) 93,164,777 93,951,265

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024


Matters covered in the Strategic Report
Information regarding the performance of the Company and principal risks and uncertainties together with the corporate governance arrangements can be found in the Strategic Report.

Statement of directors' responsibilities
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

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

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Auditors
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





Mr M D Hestford - Director


12 December 2024

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
S J BARGH GROUP LIMITED


Opinion
We have audited the financial statements of S J Bargh Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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 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:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 April 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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

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

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

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report thereon.

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 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 the audit:
- the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
S J BARGH GROUP LIMITED


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 its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
S J BARGH GROUP LIMITED


Auditors' 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 Auditors' 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

· enquiries are made of management and those charged with governance as to whether there is any knowledge of actual, suspected, or alleged fraud, whether there is any known non-compliance with laws or regulations, and whether the company has been subject to any litigation or any legal claims.
· minutes of meetings of management and those charged with governance are reviewed.
· audit work over the risk of management override of controls is undertaken. This includes testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
· analytical reviews are performed on the financial statements at all stages of the audit by comparison to prior years, budgets and expectations to ensure the reasonableness of the figures therein.
· third party confirmation is obtained from the company's bankers to confirm bank balances, loan facilities and security held.
· detailed audit testing is undertaken in specific areas to ensure that income and expenditure is correctly recorded and is a genuine income or expense of the company.
· financial statement disclosures are reviewed and tested to supporting documentation to assess compliance with applicable laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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.




Stuart Hinnigan FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Accountants and Statutory Auditors
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

8 January 2025

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £   

Turnover 53,152,644 52,321,462

Cost of sales (42,848,545 ) (43,368,262 )
Gross profit 10,304,099 8,953,200

Administrative expenses (9,124,180 ) (7,789,649 )
1,179,919 1,163,551

Other operating income 426,555 405,763
Operating profit 4 1,606,474 1,569,314

Interest receivable and similar income 38,154 16,489
1,644,628 1,585,803

Interest payable and similar expenses 6 (458,080 ) (245,662 )
Profit before taxation 1,186,548 1,340,141

Tax on profit 7 (337,511 ) (239,411 )
Profit for the financial year 849,037 1,100,730

Retained earnings at beginning of year 5,739,074 4,956,046

Dividends 9 (280,907 ) (317,702 )

Retained earnings for the group at end of
year

6,307,204

5,739,074

Profit attributable to:
Owners of the parent 849,037 1,100,730

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

CONSOLIDATED BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 10 24,204,789 21,531,906
Investments 11 - -
Investment property 12 390,000 390,000
24,594,789 21,921,906

Current assets
Stocks 13 726,114 765,087
Debtors 14 10,301,440 8,700,281
Cash at bank and in hand 1,481,953 3,088,427
12,509,507 12,553,795
Creditors
Amounts falling due within one year 15 (8,845,746 ) (7,307,942 )
Net current assets 3,663,761 5,245,853
Total assets less current liabilities 28,258,550 27,167,759

Creditors
Amounts falling due after more than one
year

16

(4,914,911

)

(4,729,761

)

Provisions for liabilities 19 (1,075,005 ) (737,494 )
Net assets 22,268,634 21,700,504

Capital and reserves
Called up share capital 20 2,538 2,538
Merger reserve 21 15,958,892 15,958,892
Retained earnings 21 6,307,204 5,739,074
Shareholders' funds 22,268,634 21,700,504

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





Mr M D Hestford - Director


S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

COMPANY BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 10 10,155,684 10,366,074
Investments 11 12,786,311 12,487,855
Investment property 12 390,000 390,000
23,331,995 23,243,929

Current assets
Debtors 14 1,114,717 112,829
Cash at bank 373,042 1,445,367
1,487,759 1,558,196
Creditors
Amounts falling due within one year 15 (330,791 ) (581,037 )
Net current assets 1,156,968 977,159
Total assets less current liabilities 24,488,963 24,221,088

Creditors
Amounts falling due after more than one
year

16

(2,023,438

)

(2,333,731

)

Provisions for liabilities 19 (196,911 ) (186,873 )
Net assets 22,268,614 21,700,484

Capital and reserves
Called up share capital 20 2,538 2,538
Merger reserve 21 15,958,892 15,958,892
Retained earnings 21 6,307,184 5,739,054
Shareholders' funds 22,268,614 21,700,484

Company's profit for the financial year 849,037 1,100,728

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





Mr M D Hestford - Director


S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,498,430 4,591,710
Interest paid (163,088 ) (117,721 )
Interest element of hire purchase payments
paid

(294,992

)

(127,941

)
Tax paid 48,004 19,685
Net cash from operating activities 3,088,354 4,365,733

Cash flows from investing activities
Purchase of tangible fixed assets (3,153,837 ) (1,570,025 )
Sale of tangible fixed assets 389,971 300,918
Interest received 38,154 16,489
Net cash from investing activities (2,725,712 ) (1,252,618 )

Cash flows from financing activities
Loan repayments in year (386,446 ) (386,446 )
Capital repayments in year (1,301,763 ) (1,550,248 )
Equity dividends paid (280,907 ) (317,702 )
Net cash from financing activities (1,969,116 ) (2,254,396 )

(Decrease)/increase in cash and cash equivalents (1,606,474 ) 858,719
Cash and cash equivalents at beginning of
year

2

3,088,427

2,229,708

Cash and cash equivalents at end of year 2 1,481,953 3,088,427

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024


1. Reconciliation of profit before taxation to cash generated from operations

2024 2023
£    £   
Profit before taxation 1,186,548 1,340,141
Depreciation charges 3,276,048 2,478,438
Profit on disposal of fixed assets (103,052 ) (110,122 )
Finance costs 458,080 245,662
Finance income (38,154 ) (16,489 )
4,779,470 3,937,630
Decrease/(increase) in stocks 38,973 (26,484 )
(Increase)/decrease in trade and other debtors (1,649,163 ) 708,184
Increase/(decrease) in trade and other creditors 329,150 (27,620 )
Cash generated from operations 3,498,430 4,591,710

2. Cash and cash equivalents

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30/4/24 1/5/23
£    £   
Cash and cash equivalents 1,481,953 3,088,427
Year ended 30 April 2023
30/4/23 1/5/22
£    £   
Cash and cash equivalents 3,088,427 2,229,708


S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024


3. Analysis of changes in net debt

Other
non-cash
At 1/5/23 Cash flow changes At 30/4/24
£    £    £    £   
Net cash
Cash at bank
and in hand 3,088,427 (1,606,474 ) 1,481,953
3,088,427 (1,606,474 ) 1,481,953
Debt
Finance leases (4,461,708 ) 1,301,763 - (6,241,958 )
Debts falling due
within 1 year (243,646 ) 76,153 - (167,493 )
Debts falling due
after 1 year (2,333,731 ) 310,293 - (2,023,438 )
(7,039,085 ) 1,688,209 - (8,432,889 )
Total (3,950,658 ) 81,735 - (6,950,936 )

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. Statutory information

S J Bargh Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
When preparing the financial statements, the directors are required to make judgements, estimates and assumptions about the carrying value of assets, liabilities, income and expenses.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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, for services provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a service to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% Straight line
Plant and machinery - 15% Reducing balance
Fixtures and fittings - 15% Reducing balance
Motor vehicles - 25% Reducing balance and Straight line over 7 to 12 years
Computer equipment - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. Accounting policies - continued

Financial instruments
The company 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.

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 cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 company after deducting all of its liabilities.

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

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the 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 rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. Accounting policies - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors
2024 2023
£    £   
Wages and salaries 19,758,319 18,014,659
Social security costs 1,947,739 1,895,855
Other pension costs 429,805 399,374
22,135,863 20,309,888

The average number of employees during the year was as follows:
2024 2023

Administration and support 89 63
Other departments 459 476
548 539

2024 2023
£    £   
Directors' remuneration 279,373 207,953
Directors' pension contributions to money purchase schemes 12,482 18,840

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 3

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 136,619 134,385
Pension contributions to money purchase schemes 10,400 16,211

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. Operating profit

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 278,226 648,269
Other operating leases 278,704 272,298
Depreciation - owned assets 1,634,815 1,583,308
Depreciation - assets on hire purchase contracts 1,641,189 895,704
Profit on disposal of fixed assets (103,052 ) (110,122 )

5. Auditors' remuneration
2024 2023
£    £   
Fees payable to the company's auditors and their associates for the audit of
the company's financial statements

3,700

3,250
Fees payable to the company's auditors and their associates for other services to the group:
The auditing of accounts of any associate of the company 20,455 18,330
Other non- audit services 18,909 15,546

6. Interest payable and similar expenses
2024 2023
£    £   
Other interest payable 83 235
Loan interest 163,005 117,486
Hire purchase 294,992 127,941
458,080 245,662

7. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax - (44,543 )

Deferred tax 337,511 283,954
Tax on profit 337,511 239,411

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. Taxation - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,186,548 1,340,141
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

296,637

254,627

Effects of:
Expenses not deductible for tax purposes 51,502 37,441
Capital allowances in excess of depreciation - (192,993 )
Adjustments to tax charge in respect of previous periods (10,628 ) (44,543 )
Difference of rates of tax used for deferred tax - 184,879
Total tax charge 337,511 239,411

8. Individual income statement

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. Dividends
2024 2023
£    £   
Ordinary shares of 1 each
Interim 280,907 317,702

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


10. Tangible fixed assets

Group
Freehold Short Plant and
property leasehold machinery
£    £    £   
Cost
At 1 May 2023 11,911,996 158,306 969,512
Additions 15,261 2,158 75,626
Disposals - - (40,872 )
At 30 April 2024 11,927,257 160,464 1,004,266
Depreciation
At 1 May 2023 1,599,447 100,017 506,073
Charge for year 231,634 16,150 74,561
Eliminated on disposal - - (33,368 )
At 30 April 2024 1,831,081 116,167 547,266
Net book value
At 30 April 2024 10,096,176 44,297 457,000
At 30 April 2023 10,312,549 58,289 463,439

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 May 2023 518,500 16,952,814 95,074 30,606,202
Additions 39,206 6,069,925 33,630 6,235,806
Disposals (5,080 ) (3,539,327 ) (35,811 ) (3,621,090 )
At 30 April 2024 552,626 19,483,412 92,893 33,220,918
Depreciation
At 1 May 2023 299,413 6,528,302 41,044 9,074,296
Charge for year 35,105 2,894,054 24,500 3,276,004
Eliminated on disposal (3,816 ) (3,264,345 ) (32,642 ) (3,334,171 )
At 30 April 2024 330,702 6,158,011 32,902 9,016,129
Net book value
At 30 April 2024 221,924 13,325,401 59,991 24,204,789
At 30 April 2023 219,087 10,424,512 54,030 21,531,906

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


10. Tangible fixed assets - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 May 2023 7,360,428
Additions 4,682,456
Transfer to ownership (693,315 )
At 30 April 2024 11,349,569
Depreciation
At 1 May 2023 1,660,967
Charge for year 1,641,189
Transfer to ownership (310,866 )
At 30 April 2024 2,991,290
Net book value
At 30 April 2024 8,358,279
At 30 April 2023 5,699,461

Company
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Cost
At 1 May 2023 11,568,695 1,612 62,448 11,632,755
Additions 15,261 - 15,157 30,418
At 30 April 2024 11,583,956 1,612 77,605 11,663,173
Depreciation
At 1 May 2023 1,256,143 345 10,193 1,266,681
Charge for year 231,634 192 8,982 240,808
At 30 April 2024 1,487,777 537 19,175 1,507,489
Net book value
At 30 April 2024 10,096,179 1,075 58,430 10,155,684
At 30 April 2023 10,312,552 1,267 52,255 10,366,074

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


11. Fixed asset investments

Company
Shares in
group
undertakings
£   
Cost
At 1 May 2023 12,487,855
Reversal of impairments 298,456
At 30 April 2024 12,786,311
Net book value
At 30 April 2024 12,786,311
At 30 April 2023 12,487,855

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

S J Bargh Limited
Registered office: Head Office, Caton Road, Lancaster, LA1 3PE
Nature of business: Haulage, contracting and warehousing.
%
Class of shares: holding
Ordinary 100.00

R G Bassett & Sons Limited
Registered office:
Nature of business:
%
Class of shares: holding
Ordinary 100.00

Bassetts Transport Limited
Registered office: Head Office, Caton Road, Lancaster, LA1 3PE
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Bassetts Roadways Limited
Registered office: Head Office, Caton Road, Lancaster, LA1 3PE
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


11. Fixed asset investments - continued

Bassetts Transport Training Limited
Registered office: Head Office, Caton Road, Lancaster, LA1 3PE
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00


12. Investment property

Group
Total
£   
Fair value
At 1 May 2023
and 30 April 2024 390,000
Net book value
At 30 April 2024 390,000
At 30 April 2023 390,000

The investment property was valued by the directors using their knowledge of similar properties in the area and discussions with appropriate local advisors.

There has been no valuation of investment property by an independent valuer.

Company
Total
£   
Fair value
At 1 May 2023
and 30 April 2024 390,000
Net book value
At 30 April 2024 390,000
At 30 April 2023 390,000

The investment property was valued by the directors using their knowledge of similar properties in the area and discussions with appropriate local advisors.

There has been no valuation of investment property by an independent valuer.

13. Stocks

Group
2024 2023
£    £   
Stocks 726,114 765,087

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


14. Debtors: amounts falling due within one year

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 9,264,266 7,844,003 56,187 54,909
Other debtors 99,231 80,779 987,263 -
Tax - 48,004 - -
Prepayments 937,943 727,495 71,267 57,920
10,301,440 8,700,281 1,114,717 112,829

15. Creditors: amounts falling due within one year

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 17) 167,493 243,646 167,493 243,646
Hire purchase contracts (see note 18) 3,350,485 2,065,678 - -
Trade creditors 3,142,644 2,853,743 69,490 137,587
Social security and other taxes 488,008 549,510 - -
VAT 947,902 771,849 47,154 25,936
Other creditors 298,640 236,343 - -
Accruals 450,574 587,173 46,654 173,868
8,845,746 7,307,942 330,791 581,037

16. Creditors: amounts falling due after more than one year

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 17) 2,023,438 2,333,731 2,023,438 2,333,731
Hire purchase contracts (see note 18) 2,891,473 2,396,030 - -
4,914,911 4,729,761 2,023,438 2,333,731

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


17. Loans

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 167,493 243,646 167,493 243,646
Amounts falling due between one and two years:
Bank loans - 1-2 years 163,548 243,646 163,548 243,646
Amounts falling due between two and five years:
Bank loans - 2-5 years 1,859,890 2,090,085 1,859,890 2,090,085

Bank borrowings
Bank loans are denominated in sterling with a nominal interest rate of 6.95%, and the final instalment is due on 11 July 2029. The carrying amount at the year end is £2,190,931 (2023 - £2,577,377).

A legal charge is held by the bank on all the properties held by the group.

Finance lease liabilities
The obligations under finance lease contracts are secured by the vehicles to which they relate.

18. Leasing agreements

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,350,485 2,065,678
Between one and five years 2,891,473 2,396,030
6,241,958 4,461,708

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 45,000 33,480
Between one and five years 15,000 47,430
60,000 80,910

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


18. Leasing agreements - continued

The amount of non-cancellable operating lease payments recognised as an expense during the year was £86,367 (2023 - £33,480).

19. Provisions for liabilities

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 1,075,005 737,494 196,911 186,873

Group
Deferred
tax
£   
Balance at 1 May 2023 737,494
Charge to Income Statement during year 337,511
Balance at 30 April 2024 1,075,005

Company
Deferred
tax
£   
Balance at 1 May 2023 186,873
Charge to Income Statement during year 10,038
Balance at 30 April 2024 196,911

20. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,538 Ordinary 1 2,538 2,538

Rights, preferences and restrictions

Ordinary £1 shares have the following rights, preferences and restrictions.
Full rights to dividends and right to attend and vote at general meetings of the company and to participate in distributions.
Right to repayment at par and to participate in distributions on winding up of the company.

S J BARGH GROUP LIMITED (REGISTERED NUMBER: 10077929)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


21. Reserves

Group
Retained Merger
earnings reserve Totals
£    £    £   

At 1 May 2023 5,739,074 15,958,892 21,697,966
Profit for the year 849,037 849,037
Dividends (280,907 ) (280,907 )
At 30 April 2024 6,307,204 15,958,892 22,266,096

Company
Retained Merger
earnings reserve Totals
£    £    £   

At 1 May 2023 5,739,054 15,958,892 21,697,946
Profit for the year 849,037 849,037
Dividends (280,907 ) (280,907 )
At 30 April 2024 6,307,184 15,958,892 22,266,076


22. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.