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REGISTERED NUMBER: 04518696 (England and Wales)







Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 30 April 2024

for

Proper Job Superstores Limited

Proper Job Superstores Limited (Registered number: 04518696)






Contents of the Consolidated Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


Proper Job Superstores Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: P C Tilley



REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY



BUSINESS ADDRESS: Unit 5
Hannah More Road
Nailsea
Bristol
Somerset
BS48 4RZ



REGISTERED NUMBER: 04518696 (England and Wales)



SENIOR STATUTORY AUDITOR: Matthew Dobbins FCA



AUDITORS: Dunkley's
Statutory Auditor
Chartered Accountants
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Proper Job Superstores Limited (Registered number: 04518696)

Group Strategic Report
for the Year Ended 30 April 2024

The director presents his strategic report of the company and the group for the year ended 30 April 2024.

REVIEW OF BUSINESS
The Directors are confident about the continuing financial performance of the business and continue to review opportunities provided.

The principal performance indicators used by the board are as follows:


2024 2023 (revised)
£ £
Turnover from stores 32,128,454 28,845,439
Turnover from subsidiary 751,357 741,984
Gross profit/(loss) margin from stores 20.3% 20.2%
Gross profit/(loss) margin from subsidiary 73.0% 69.1%
Increase/(decrease) in store turnover 11.38% 27.13%

Stores opened, including head office 20 19
Total staff costs for stores 6,287,971 5,602,515

PRINCIPAL RISKS AND UNCERTAINTIES
The company seeks to minimise financial risk and appropriate terms are negotiated with lenders, suppliers and customers. Management reviews the terms and the relationships and manages the exposure as appropriate.

A major risk facing the company is the risk of theft of stock and cash. The management continuously introduce and revise security features and controls, designed to reduce this risk to an acceptable level.

ENVIRONMENTAL FACTORS
The director is aware of the environmental impacts the day to day running of the business has. To help reduce the carbon footprint of the company, solar panels are in place on some of the owned properties. Careful logistical planning takes place to reduce the emissions caused from stock movements between sites. The director investigates further opportunities to reduce the carbon footprint of the company.

ON BEHALF OF THE BOARD:





P C Tilley - Director


27 November 2024

Proper Job Superstores Limited (Registered number: 04518696)

Report of the Director
for the Year Ended 30 April 2024

The director presents his report with the financial statements of the company and the group for the year ended 30 April 2024.

DIVIDENDS
Interim dividends totalling £6000 per share were paid during the year. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 30 April 2024 will be £ 240,000 .

Some shareholders waived their rights to certain dividend issues, resulting in a reduction in the total dividend paid.

FUTURE DEVELOPMENTS
After consolidating their position, the Company now continues to seek new opportunities in which to expand its retail activities.

DIRECTOR
P C Tilley held office during the whole of the period from 1 May 2023 to the date of this report.

FINANCIAL INSTRUMENTS
The company's financial instruments comprise of cash and liquid resources, and various items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.

EMPLOYMENT OF DISABLED PERSONS
The directors have worked to establish employment roles that focus on the needs of the employees.

This has allowed the company to benefit from employees who would otherwise not have been able to join Proper Job.

Part of these arrangements result in a larger proportion of employment contracts being part-time.

ENGAGEMENT WITH EMPLOYEES
The directors operate a policy of equal opportunity employment, and do not discriminate on the grounds of race, sex, ethnicity, religion, gender or similar identifiers.

The company operates targets and a bonus scheme for the employees based on meeting set targets, allowing the employees to track the success of the business and to share in the profits.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

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

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Proper Job Superstores Limited (Registered number: 04518696)

Report of the Director
for the Year Ended 30 April 2024


AUDITORS
The auditors, Dunkley's, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P C Tilley - Director


27 November 2024

Report of the Independent Auditors to the Members of
Proper Job Superstores Limited

Opinion
We have audited the financial statements of Proper Job Superstores Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, 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 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 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors 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 Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Proper Job Superstores 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 Report of the Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, 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 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 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Proper Job Superstores 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 a Report of the Auditors 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:

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, bonus levels and performance targets;

- any matters we identified, having obtained and reviewed the company's documentation of their policies and procedures relating to:

o identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

o detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

o the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the areas of management override of controls, and revenue recognition.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

- enquiring of management, concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 Report of the Auditors.

Report of the Independent Auditors to the Members of
Proper Job Superstores Limited


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 a Report of the Auditors 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.




Matthew Dobbins FCA (Senior Statutory Auditor)
for and on behalf of Dunkley's
Statutory Auditor
Chartered Accountants
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

28 November 2024

Proper Job Superstores Limited (Registered number: 04518696)

Consolidated Income Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
as restated
Notes £    £   

TURNOVER 3 32,827,082 29,546,722

Cost of sales (25,811,376 ) (23,239,898 )
GROSS PROFIT 7,015,706 6,306,824

Administrative expenses (4,940,161 ) (4,434,083 )
2,075,545 1,872,741

Other operating income 203,333 18,908
OPERATING PROFIT 5 2,278,878 1,891,649

Interest receivable and similar income 34,776 3,745
2,313,654 1,895,394

Interest payable and similar expenses 6 (836 ) (16,092 )
PROFIT BEFORE TAXATION 2,312,818 1,879,302

Tax on profit 7 (628,396 ) 49,277
PROFIT FOR THE FINANCIAL YEAR 1,684,422 1,928,579
Profit attributable to:
Owners of the parent 1,671,215 1,918,600
Non-controlling interests 13,207 9,979
1,684,422 1,928,579

Proper Job Superstores Limited (Registered number: 04518696)

Consolidated Other Comprehensive Income
for the Year Ended 30 April 2024

30.4.24 30.4.23
as restated
Notes £    £   

PROFIT FOR THE YEAR 1,684,422 1,928,579


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 1,684,422 1,928,579
Note
Prior year adjustment 10 39,933 319,549
TOTAL COMPREHENSIVE INCOME SINCE LAST
ANNUAL REPORT

1,724,355

2,248,128

Total comprehensive income attributable to:
Owners of the parent 1,711,148 2,238,149
Non-controlling interests 13,207 9,979
1,724,355 2,248,128

Proper Job Superstores Limited (Registered number: 04518696)

Consolidated Balance Sheet
30 April 2024

30.4.24 30.4.23 1.5.22
as restated
Notes £    £    £   
FIXED ASSETS
Intangible assets 11 20,037 35,987 73,357
Tangible assets 12 6,618,856 6,462,947 8,296,836
Investments 13 - - -
Investment property 14 2,274,554 2,274,554 639,554
8,913,447 8,773,488 9,009,747

CURRENT ASSETS
Stocks 15 3,484,584 3,566,734 3,183,176
Debtors 16 1,095,143 1,181,958 644,214
Cash at bank and in hand 3,869,360 2,088,270 1,338,391
8,449,087 6,836,962 5,165,781
CREDITORS
Amounts falling due within one year 17 (3,090,190 ) (2,737,886 ) (2,571,299 )
NET CURRENT ASSETS 5,358,897 4,099,076 2,594,482
TOTAL ASSETS LESS CURRENT LIABILITIES 14,272,344 12,872,564 11,604,229

CREDITORS
Amounts falling due after more than one year 18 (13,239 ) (53,381 ) (642,524 )

PROVISIONS FOR LIABILITIES 21 - - (87,275 )
NET ASSETS 14,259,105 12,819,183 10,874,430

CAPITAL AND RESERVES
Called up share capital 22 100 100 100
Fair value reserve 23 (209,466 ) (209,466 ) (35,740 )
Retained earnings 23 14,420,469 12,989,254 10,877,379
SHAREHOLDERS' FUNDS 14,211,103 12,779,888 10,841,739

NON-CONTROLLING INTERESTS 48,002 39,295 32,691
14,259,105 12,819,183 10,874,430

The financial statements were approved by the director and authorised for issue on 27 November 2024 and were signed by:





P C Tilley - Director


Proper Job Superstores Limited (Registered number: 04518696)

Company Balance Sheet
30 April 2024

30.4.24 30.4.23 1.5.22
as restated
Notes £    £    £   
FIXED ASSETS
Intangible assets 11 - 10,710 42,839
Tangible assets 12 6,612,132 6,460,203 8,291,550
Investments 13 187,085 187,085 187,085
Investment property 14 2,274,554 2,274,554 639,554
9,073,771 8,932,552 9,161,028

CURRENT ASSETS
Stocks 15 3,428,921 3,503,612 3,118,308
Debtors 16 1,036,678 1,079,942 533,175
Cash at bank and in hand 3,509,288 1,818,333 1,137,467
7,974,887 6,401,887 4,788,950
CREDITORS
Amounts falling due within one year 17 (2,976,919 ) (2,608,929 ) (2,430,917 )
NET CURRENT ASSETS 4,997,968 3,792,958 2,358,033
TOTAL ASSETS LESS CURRENT LIABILITIES 14,071,739 12,725,510 11,519,061

CREDITORS
Amounts falling due after more than one year 18 (13,239 ) (53,381 ) (642,524 )

PROVISIONS FOR LIABILITIES 21 - - (87,275 )
NET ASSETS 14,058,500 12,672,129 10,789,262

CAPITAL AND RESERVES
Called up share capital 22 100 100 100
Fair value reserve 23 (209,466 ) (209,466 ) (35,740 )
Retained earnings 23 14,267,866 12,881,495 10,824,902
SHAREHOLDERS' FUNDS 14,058,500 12,672,129 10,789,262

Company's profit for the financial year 1,626,371 1,863,318

The financial statements were approved by the director and authorised for issue on 27 November 2024 and were signed by:





P C Tilley - Director


Proper Job Superstores Limited (Registered number: 04518696)

Consolidated Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up Fair
share Retained value
capital earnings reserve
£    £    £   
Balance at 1 May 2022 100 10,877,379 (35,740 )
Prior year adjustment - 319,549 -
As restated 100 11,196,928 (35,740 )

Changes in equity
Dividends - (300,000 ) -
Total comprehensive income - 2,052,393 (173,726 )
Balance at 30 April 2023 100 12,949,321 (209,466 )
Prior year adjustment - 39,933 -
As restated 100 12,989,254 (209,466 )

Changes in equity
Dividends - (240,000 ) -
Total comprehensive income - 1,671,215 -
Balance at 30 April 2024 100 14,420,469 (209,466 )
Non-controlling Total
Total interests equity
£    £    £   
Balance at 1 May 2022 10,841,739 32,691 10,874,430
Prior year adjustment 319,549 - 319,549
As restated 11,161,288 32,691 11,193,979

Changes in equity
Dividends (300,000 ) (3,375 ) (303,375 )
Total comprehensive income 1,878,667 9,979 1,888,646
Balance at 30 April 2023 12,739,955 39,295 12,779,250
Prior year adjustment 39,933 - 39,933
As restated 12,779,888 39,295 12,819,183

Changes in equity
Dividends (240,000 ) (4,500 ) (244,500 )
Total comprehensive income 1,671,215 13,207 1,684,422
Balance at 30 April 2024 14,211,103 48,002 14,259,105

Proper Job Superstores Limited (Registered number: 04518696)

Company Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 May 2022 100 10,824,902 (35,740 ) 10,789,262
Prior year adjustment - 319,549 - 319,549
As restated 100 11,144,451 (35,740 ) 11,108,811

Changes in equity
Dividends - (300,000 ) - (300,000 )
Total comprehensive income - 1,997,111 (173,726 ) 1,823,385
Balance at 30 April 2023 100 12,841,562 (209,466 ) 12,632,196
Prior year adjustment - 39,933 - 39,933
As restated 100 12,881,495 (209,466 ) 12,672,129

Changes in equity
Dividends - (240,000 ) - (240,000 )
Total comprehensive income - 1,626,371 - 1,626,371
Balance at 30 April 2024 100 14,267,866 (209,466 ) 14,058,500

Proper Job Superstores Limited (Registered number: 04518696)

Consolidated Cash Flow Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,979,002 2,223,323
Interest paid (836 ) (16,092 )
Tax paid (573,443 ) (543,790 )
Net cash from operating activities 2,404,723 1,663,441

Cash flows from investing activities
Purchase of tangible fixed assets (414,529 ) (93,327 )
Sale of tangible fixed assets 1,125 22,000
Sale of investment property - 183,867
Interest received 34,776 3,745
Net cash from investing activities (378,628 ) 116,285

Cash flows from financing activities
Loan repayments in year - (732,717 )
New loan to participator/employee - (90,000 )
Net amount introduced by directors - 160,000
Loan from participator repaid - (65,000 )
Equity dividends paid (240,000 ) (300,000 )
Dividends paid to minority interests (4,500 ) (3,375 )
Net cash from financing activities (244,500 ) (1,031,092 )

Increase in cash and cash equivalents 1,781,595 748,634
Cash and cash equivalents at beginning of year 2 2,087,025 1,338,391

Cash and cash equivalents at end of year 2 3,868,620 2,087,025

Proper Job Superstores Limited (Registered number: 04518696)

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

30.4.24 30.4.23
as restated
£    £   
Profit before taxation 2,312,818 1,879,302
Depreciation charges 274,571 281,841
Profit on disposal of fixed assets (1,125 ) (16,344 )
Loss on revaluation of fixed assets - 177,768
Finance costs 836 16,092
Finance income (34,776 ) (3,745 )
2,552,324 2,334,914
Decrease/(increase) in stocks 82,150 (383,558 )
Decrease/(increase) in trade and other debtors 81,600 (44,653 )
Increase in trade and other creditors 262,928 316,620
Cash generated from operations 2,979,002 2,223,323

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 3,869,360 2,088,270
Bank overdrafts (740 ) (1,245 )
3,868,620 2,087,025
Year ended 30 April 2023
30.4.23 1.5.22
as restated
£    £   
Cash and cash equivalents 2,088,270 1,338,391
Bank overdrafts (1,245 ) -
2,087,025 1,338,391


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.5.23 Cash flow At 30.4.24
£    £    £   
Net cash
Cash at bank and in hand 2,088,270 1,781,090 3,869,360
Bank overdrafts (1,245 ) 505 (740 )
2,087,025 1,781,595 3,868,620
Total 2,087,025 1,781,595 3,868,620

Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Proper Job Superstores 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.

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.

Turnover
Turnover is broken down by the following trades, each having the detailed turnover policies.

- Sale of goods. Sale of goods turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

- Sale of software and software licenses. Sale of software and software licenses turnover is measured at fair value of the consideration received spread across the length of the license.

- Sale of hardware and equipment. Sales of hardware equipment turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

- Sale of support services. Sale of support services turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated amortisation, in accordance with the above, and any accumulated impairment losses

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost and 10% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance and 25% on cost
Computer equipment - 33.33% on cost

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 valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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.

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. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

30.4.24 30.4.23
as restated
£    £   
Sale of goods - Stores 32,178,455 28,845,439
EPOS system deliveries 648,627 701,283
32,827,082 29,546,722

An analysis of turnover by geographical market is given below:

30.4.24 30.4.23
as restated
£    £   
United Kingdom 32,827,082 29,546,722
32,827,082 29,546,722

4. EMPLOYEES AND DIRECTORS
30.4.24 30.4.23
as restated
£    £   
Wages and salaries 6,088,022 5,471,655
Social security costs 463,250 422,284
Other pension costs 105,832 94,611
6,657,104 5,988,550

Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
30.4.24 30.4.23
as restated

Directors 1 1
Administrators 51 54
Other employees 248 232
300 287

The average number of employees by undertakings that were proportionately consolidated during the year was 9 (2023 - 11 ) .

30.4.24 30.4.23
as restated
£    £   
Director's remuneration 12,500 12,500

5. OPERATING PROFIT

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

30.4.24 30.4.23
as restated
£    £   
Depreciation - owned assets 258,620 244,471
Profit on disposal of fixed assets (1,125 ) (16,344 )
Goodwill amortisation 15,950 37,370
Auditors' remuneration 14,694 10,450
Auditors' remuneration for non audit work 6,103 7,519
Foreign exchange differences (2,440 ) (1,083 )

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.4.24 30.4.23
as restated
£    £   
Bank interest 8 -
Bank loan interest 97 16,092
HMRC interest 731 -
836 16,092

Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

7. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
30.4.24 30.4.23
as restated
£    £   
Current tax:
UK corporation tax 574,411 425,103
Prior year tax charge 17,852 (21,543 )
Total current tax 592,263 403,560

Deferred tax 36,133 (452,837 )
Tax on profit 628,396 (49,277 )

UK corporation tax was charged at 19.49 %) in 2023.

Reconciliation of total tax charge/(credit) 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:

30.4.24 30.4.23
as restated
£    £   
Profit before tax 2,312,818 1,879,302
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 25
%)

578,205

469,826

Effects of:
Expenses not deductible for tax purposes 94 866
Income not taxable for tax purposes - (13,467 )
Depreciation in excess of capital allowances 28,319 49,141
Adjustments to tax charge in respect of previous periods 17,852 47,924
Other timing differences (10,058 ) 5,702
R&D enhanced expenditure (22,149 ) (39,738 )
Consolidation adjustments - 1,312
Marginal relief - (32 )
Deferred tax provision movement 36,133 (452,837 )
Chargeable gains - 11,354
Change in tax rates - (125,242 )
(Profit)/Loss on disposal of assets - (4,086 )
Total tax charge/(credit) 628,396 (49,277 )

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.


Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

9. DIVIDENDS
30.4.24 30.4.23
as restated
£    £   
Interim 240,000 300,000

10. PRIOR YEAR ADJUSTMENT

The director has recognised that a property previously held wholly as freehold property in tangible fixed assets has elements of investment property, and has restated the comparative information to show this correctly.

The impacts of the restatement are as follows:

£

Depreciation brought forwards at 1 May 2022 319,549
Depreciation charge for the year ended 30 April 2023 39,933
Revaluation of investment property for the year ended 30 April 2023 (231,635 )
Impact of deferred tax on revaluation as at 30 April 2023 57,909
Net increase in reserves 185,756

Decrease in net book value of tangible fixed assets as at 30 April 2023 (1,637,153 )
Increase in fair value of investment properties as at 30 April 2023 1,765,000


11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 694,993
AMORTISATION
At 1 May 2023 659,006
Amortisation for year 15,950
At 30 April 2024 674,956
NET BOOK VALUE
At 30 April 2024 20,037
At 30 April 2023 35,987

Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

11. INTANGIBLE FIXED ASSETS - continued

Company
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 642,589
AMORTISATION
At 1 May 2023 631,879
Amortisation for year 10,710
At 30 April 2024 642,589
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 10,710

12. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 May 2023 6,857,571 525,067 487,998
Additions 252,481 - 124,666
Disposals - - -
At 30 April 2024 7,110,052 525,067 612,664
DEPRECIATION
At 1 May 2023 794,369 376,705 348,807
Charge for year 140,518 33,021 39,527
Eliminated on disposal - - -
At 30 April 2024 934,887 409,726 388,334
NET BOOK VALUE
At 30 April 2024 6,175,165 115,341 224,330
At 30 April 2023 6,063,202 148,362 139,191

Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

12. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 725,572 34,434 196,689 8,827,331
Additions 1,632 4,000 31,750 414,529
Disposals - (34,434 ) - (34,434 )
At 30 April 2024 727,204 4,000 228,439 9,207,426
DEPRECIATION
At 1 May 2023 635,238 34,434 174,831 2,364,384
Charge for year 22,833 4,000 18,721 258,620
Eliminated on disposal - (34,434 ) - (34,434 )
At 30 April 2024 658,071 4,000 193,552 2,588,570
NET BOOK VALUE
At 30 April 2024 69,133 - 34,887 6,618,856
At 30 April 2023 90,334 - 21,858 6,462,947

Company
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 May 2023 6,857,571 525,067 487,998
Additions 252,481 - 124,666
At 30 April 2024 7,110,052 525,067 612,664
DEPRECIATION
At 1 May 2023 794,369 376,705 348,807
Charge for year 140,518 33,021 39,527
At 30 April 2024 934,887 409,726 388,334
NET BOOK VALUE
At 30 April 2024 6,175,165 115,341 224,330
At 30 April 2023 6,063,202 148,362 139,191

Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

12. TANGIBLE FIXED ASSETS - continued

Company

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023 725,272 185,876 8,781,784
Additions 1,228 25,153 403,528
At 30 April 2024 726,500 211,029 9,185,312
DEPRECIATION
At 1 May 2023 635,102 166,598 2,321,581
Charge for year 22,705 15,828 251,599
At 30 April 2024 657,807 182,426 2,573,180
NET BOOK VALUE
At 30 April 2024 68,693 28,603 6,612,132
At 30 April 2023 90,170 19,278 6,460,203

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 187,085
NET BOOK VALUE
At 30 April 2024 187,085
At 30 April 2023 187,085

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

Subsidiary

Easitill Limited
Registered office: Ibex House Ferro Fields, Scaldwell Road, Brixworth, Northants, NN6 9UA
Nature of business: Business and domestic software development
%
Class of shares: holding
Ordinary 85.00
30.4.24 30.4.23
£    £   
Aggregate capital and reserves 367,454 308,862
Profit for the year 88,592 89,627


Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

14. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 2,274,554
NET BOOK VALUE
At 30 April 2024 2,274,554
At 30 April 2023 2,274,554

The directors have valued the property on the open market basis as at 30 April 2024.

The investment properties have not been valued by an independent valuer since their respective purchase in the financial year ended 30 April 2018 and 30 April 2015.

Company
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 2,274,554
NET BOOK VALUE
At 30 April 2024 2,274,554
At 30 April 2023 2,274,554

The directors have valued the property on the open market basis as at 30 April 2024.

The investment properties have not been valued by an independent valuer since their respective purchase in the financial year ended 30 April 2018 and 30 April 2015.

15. STOCKS

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
as restated as restated
£    £    £    £   
Stocks 3,484,584 3,566,734 3,428,921 3,503,612

Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

16. DEBTORS

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
as restated as restated
£    £    £    £   
Amounts falling due within one year:
Trade debtors 98,606 143,721 10,426 55,013
Amounts owed by group undertakings - - 43,066 -
Other debtors 437,412 429,933 437,412 429,933
Tax 30,918 42,416 30,375 30,375
Deferred tax asset 329,430 365,563 329,430 365,563
Prepayments 128,777 110,325 115,969 109,058
1,025,143 1,091,958 966,678 989,942

Amounts falling due after more than one year:
Other debtors 70,000 90,000 70,000 90,000

Aggregate amounts 1,095,143 1,181,958 1,036,678 1,079,942

Deferred tax asset
Group Company
30.4.24 30.4.23 30.4.24 30.4.23
as restated as restated
£    £    £    £   
Accelerated capital allowances 257,533 322,595 257,533 322,595
Other timing differences 71,897 42,968 71,897 42,968
329,430 365,563 329,430 365,563

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
as restated as restated
£    £    £    £   
Bank loans and overdrafts (see note 19) 740 1,245 740 1,245
Trade creditors 2,043,765 1,749,586 2,011,176 1,709,680
Amounts owed to group undertakings - - - 14,991
Tax 249,953 242,631 249,953 242,631
Social security and other taxes 87,551 77,435 79,418 68,684
VAT 444,250 348,259 413,962 316,009
Other creditors 25,669 56,464 15,638 51,035
Credit card 2,130 1,554 - -
Directors' current accounts 160,000 160,000 160,000 160,000
Accruals and deferred income 24,100 50,858 - -
Accrued expenses 52,032 49,854 46,032 44,654
3,090,190 2,737,886 2,976,919 2,608,929

Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
as restated as restated
£    £    £    £   
Accruals and deferred income 13,239 53,381 13,239 53,381

19. LOANS

An analysis of the maturity of loans is given below:

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
as restated as restated
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 740 1,245 740 1,245

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Company
Non-cancellable operating leases
30.4.24 30.4.23
as restated
£    £   
Within one year 148,062 218,861
Between one and five years 156,536 304,597
304,598 523,458

21. DEFERRED TAX

Group
£   
Balance at 1 May 2023 (365,563 )
Charge to Income Statement during year 36,133
Balance at 30 April 2024 (329,430 )

Company
£   
Balance at 1 May 2023 (365,563 )
Charge to Income Statement during year 36,133
Balance at 30 April 2024 (329,430 )

Proper Job Superstores Limited (Registered number: 04518696)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

22. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 30.4.24 30.4.23
value: as restated
£    £   
100 Ordinary £1 100 100

23. RESERVES

Group
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 May 2023 12,949,321 (209,466 ) 12,739,855
Prior year adjustment 39,933 39,933
12,989,254 12,779,788
Profit for the year 1,671,215 1,671,215
Dividends (240,000 ) (240,000 )
At 30 April 2024 14,420,469 (209,466 ) 14,211,003

Company
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 May 2023 12,841,562 (209,466 ) 12,632,096
Prior year adjustment 39,933 39,933
12,881,495 12,672,029
Profit for the year 1,626,371 1,626,371
Dividends (240,000 ) (240,000 )
At 30 April 2024 14,267,866 (209,466 ) 14,058,400


24. ULTIMATE CONTROLLING PARTY

The controlling party is P C Tilley.