Company registration number 06617101 (England and Wales)
THE DEXTROUS WEB LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
THE DEXTROUS WEB LTD
COMPANY INFORMATION
Directors
D Mann
W A Coello
J T R Fernandez
J Hilditch
A M L Jackson
C E Young
Company number
06617101
Registered office
Studio 1.05c Level 1 Department Leeds Dock
The Boulevard
Leeds
England
LS10 1PZ
Auditor
Azets Audit Services Limited
Triune Court
Monks Cross Drive
York
YO32 9GZ
THE DEXTROUS WEB LTD
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 30
THE DEXTROUS WEB LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

The directors present the strategic report for the year ended 30 June 2024.

Our work

dxw is here to make people’s lives better. We’re specialists in working with the public sector and charities to achieve better outcomes for citizens and businesses. We’re best known for building high quality digital products and services that meet the needs of the people who rely on them, and the teams that deliver them.

 

We know that sustainable change is about more than good technology. So we approach projects holistically, helping organisations transform how they work. We’ve made it our job to fix some of the really difficult stuff. We’re experts in tackling the legacy technology that makes it hard to provide joined up services or take advantage of AI.

 

We work across the public and third sectors with particular expertise in Education, Justice, Housing and Planning, and supporting the Digital Centre of government.

 

Our impact annual impact report is set out at dxw.com/dxw-impact

 

Our people and employee ownership

 

dxw is a people business. We work in multidisciplinary teams with skills coming from across the digital professions: strategy, delivery, product, research, design and technology. We continue to believe that working in the open brings many benefits, so we publish a playbook here playbook.dxw.com/

 

Being employee owned means we are genuinely independent. This independence has enabled us to incorporate our mission into our trust deeds. So dxw is run in the interests of the people who use the services we build, as well as our employees.

Principal risks and uncertainties

We have an established approach to risk management. A risk register is maintained, with quarterly review by the Company Board, and shared with our majority shareholder The Public Services Trust. We do not seek to eliminate risk altogether, but to be conscious of the operating environment and put in place reasonable mitigations to ameliorate risk without stifling entrepreneurial activity.

 

Key concerns identified over the course of the year include the squeeze on day-rates, new business development during an election slowdown, achieving a mixed portfolio of large/medium/smaller projects, and key staff retention.

Development and performance

The year to 30 June 2024 has been a challenging one, particularly in the second part of the year. Day rates have been under-pressure across the sector, at the same time as the cost of living crisis put pressure on the payroll costs. In common with many other suppliers in the sector, and across many election cycles, we have found an election year a difficult one. Priorities change, projects are paused, and budgets cut. We maintained capacity for a period, but ultimately took the difficult decision to downsize, given the level of the uncertainty before an election was announced. Notwithstanding all the above, we turned in a profit before tax of £543,752 and a margin of 3.3%.

Key performance indicators

 

YE24

YE23

Turnover

£16.9M

£15.5M

Gross profit

£4M

£4.2M

Gross profit margin

24%

27%

Profit before taxation

£0.5M

£1.2M

Profit margin

3.3%

8.4%

Net assets

£1.0M

£1.3M

Environmental Policy

dxw recognises the significance of its environmental responsibilities. We have a carbon reduction plan, have been carbon neutral since 2021, and undertake an annual emissions calculation. dxw.com/carbon-reduction-statement/

THE DEXTROUS WEB LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -

On behalf of the board

D Mann
Director
19 December 2024
THE DEXTROUS WEB LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -

The directors present their annual report and financial statements for the year ended 30 June 2024.

Principal activities

The principal activity of the company and group continued to be that of software development.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

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

D Mann
W A Coello
J T R Fernandez
J Hilditch
A M L Jackson
C E Young
J Flowers
(Resigned 14 February 2024)
A Apostolou
(Resigned 25 March 2024)
J A Darling
(Resigned 11 April 2024)
Auditor

The auditor, Azets Audit Services Limited, were appointed as auditor to the company and are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
D Mann
Director
19 December 2024
THE DEXTROUS WEB LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -

The directors are responsible for preparing the Annual 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

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

THE DEXTROUS WEB LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE DEXTROUS WEB LTD
- 5 -
Opinion

We have audited the financial statements of The Dextrous Web Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

THE DEXTROUS WEB LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE DEXTROUS WEB LTD
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

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

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

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

THE DEXTROUS WEB LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE DEXTROUS WEB LTD
- 7 -

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

 

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.  Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.  This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

 

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

 

 

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Other matters which we are required to address

In the previous accounting period the directors of the Company took advantage of audit exemption under s477 of the Companies Act 2006. Therefore the prior period financial statements were not subject to audit.

Use of our report

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

Chris Woodroffe (Senior Statutory Auditor)
For and on behalf of Azets Audit Services Limited
19 December 2024
Chartered Accountants
Statutory Auditor
Triune Court
Monks Cross Drive
York
YO32 9GZ
THE DEXTROUS WEB LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
2024
2023
(unaudited)
Notes
£
£
Turnover
3
16,881,042
15,521,313
Cost of sales
(12,930,317)
(11,326,785)
Gross profit
3,950,725
4,194,528
Administrative expenses
(3,393,729)
(2,918,613)
Other operating income
4,750
-
Operating profit
4
561,746
1,275,915
Interest receivable and similar income
8
290
441
Interest payable and similar expenses
9
(18,284)
(35,895)
Profit before taxation
543,752
1,240,461
Tax on profit
10
(160,439)
(194,435)
Profit for the financial year
383,313
1,046,026

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

THE DEXTROUS WEB LTD
GROUP BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 9 -
2024
2023
(unaudited)
Notes
£
£
£
£
Fixed assets
Goodwill
11
270,389
352,676
Tangible assets
12
34,711
81,686
305,100
434,362
Current assets
Debtors
15
1,505,556
2,426,038
Cash at bank and in hand
916,191
1,040,604
2,421,747
3,466,642
Creditors: amounts falling due within one year
16
(1,654,593)
(2,443,917)
Net current assets
767,154
1,022,725
Total assets less current liabilities
1,072,254
1,457,087
Creditors: amounts falling due after more than one year
17
(63,751)
(139,553)
Provisions for liabilities
Deferred tax liability
19
7,000
20,400
(7,000)
(20,400)
Net assets
1,001,503
1,297,134
Capital and reserves
Called up share capital
21
100
100
Profit and loss reserves
1,001,403
1,297,034
Total equity
1,001,503
1,297,134
The financial statements were approved by the board of directors and authorised for issue on 19 December 2024 and are signed on its behalf by:
19 December 2024
D Mann
Director
Company registration number 06617101 (England and Wales)
THE DEXTROUS WEB LTD
COMPANY BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 10 -
2024
2023
(unaudited)
Notes
£
£
£
£
Fixed assets
Goodwill
11
23,488
35,232
Tangible assets
12
28,783
71,221
Investments
13
476,523
626,523
528,794
732,976
Current assets
Debtors
15
1,411,670
2,237,693
Cash at bank and in hand
744,933
898,971
2,156,603
3,136,664
Creditors: amounts falling due within one year
16
(1,605,109)
(2,381,834)
Net current assets
551,494
754,830
Total assets less current liabilities
1,080,288
1,487,806
Creditors: amounts falling due after more than one year
17
(63,751)
(139,553)
Provisions for liabilities
Deferred tax liability
19
7,000
17,800
(7,000)
(17,800)
Net assets
1,009,537
1,330,453
Capital and reserves
Called up share capital
21
100
100
Profit and loss reserves
1,009,437
1,330,353
Total equity
1,009,537
1,330,453

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £358,028 (2023 - £1,079,345 profit).

The financial statements were approved by the board of directors and authorised for issue on 19 December 2024 and are signed on its behalf by:
19 December 2024
D Mann
Director
Company registration number 06617101 (England and Wales)
THE DEXTROUS WEB LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2022
100
1,153,624
1,153,724
Year ended 30 June 2023:
Profit and total comprehensive income
-
1,046,026
1,046,026
Other movements
24
-
(902,616)
(902,616)
Balance at 30 June 2023
100
1,297,034
1,297,134
Year ended 30 June 2024:
Profit and total comprehensive income
-
383,313
383,313
Other movements
24
-
(678,944)
(678,944)
Balance at 30 June 2024
100
1,001,403
1,001,503
THE DEXTROUS WEB LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2022
100
1,153,624
1,153,724
Year ended 30 June 2023:
Profit and total comprehensive income for the year
-
1,079,345
1,079,345
Other movements
24
-
(902,616)
(902,616)
Balance at 30 June 2023
100
1,330,353
1,330,453
Year ended 30 June 2024:
Profit and total comprehensive income
-
358,028
358,028
Other movements
24
-
(678,944)
(678,944)
Balance at 30 June 2024
100
1,009,437
1,009,537
THE DEXTROUS WEB LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024
- 13 -
2024
2023
(unaudited)
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
876,450
978,192
Interest paid
(18,284)
(35,895)
Income taxes (paid)/refunded
(199,443)
193,460
Net cash inflow from operating activities
658,723
1,135,757
Investing activities
Purchase of intangible assets
-
(352,715)
Purchase of tangible fixed assets
(20,135)
(100,854)
Proceeds from disposal of tangible fixed assets
1,721
3,778
Interest received
290
441
Net cash used in investing activities
(18,124)
(449,350)
Financing activities
EOT Contributions
(678,944)
(902,616)
Repayment of bank loans
(86,068)
(178,635)
Net cash used in financing activities
(765,012)
(1,081,251)
Net decrease in cash and cash equivalents
(124,413)
(394,844)
Cash and cash equivalents at beginning of year
1,040,604
1,435,448
Cash and cash equivalents at end of year
916,191
1,040,604
THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 14 -
1
Accounting policies
Company information

The Dextrous Web Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Studio 1.05c Level 1 Department Leeds Dock, The Boulevard, Leeds, England, LS10 1PZ.

 

The group consists of The Dextrous Web Ltd and all of its subsidiaries.

1.1
Accounting convention

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

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value.The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

 

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 15 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company The Dextrous Web Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 30 June 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

 

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the truegroup has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 16 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Fully depreciated
Plant and equipment
2 years straight line
Fixtures and fittings
4 years straight line
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.8
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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

THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 17 -
1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 18 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

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

 

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 19 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

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

1.16
Leases

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

2
Judgements and key sources of estimation uncertainty

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

 

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

THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 20 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation and Amortisation

The depreciation and amortisation policies have been set according to management's experience of the useful lives of a typical asset in each category, something which is reviewed annually. The depreciation and amortisation charged during the year is at a level which the directors feel is a fair reflection of the benefits derived from the consumption of the intangible and tangible fixed assets in use during the period.

3
Turnover and other revenue
2024
2023
(unaudited)
£
£
Turnover analysed by class of business
Software Development
16,881,042
15,521,313
2024
2023
(unaudited)
£
£
Turnover analysed by geographical market
United Kingdom
16,881,042
15,521,313
2024
2023
(unaudited)
£
£
Other revenue
Interest income
290
441
4
Operating profit
2024
2023
(unaudited)
£
£
Operating profit for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
59,965
58,634
Loss/(profit) on disposal of tangible fixed assets
5,424
(3,778)
Amortisation of intangible assets
82,287
67,586
Operating lease charges
215,837
206,280
THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 21 -
5
Auditor's remuneration
2024
2023
(unaudited)
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
24,000
-
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
2023
Company
2023
2024
(unaudited)
2024
(unaudited)
Number
Number
Number
Number
Directors
9
9
9
9
Administration
16
13
16
13
Technical
110
100
96
88
Total
135
122
121
110

Their aggregate remuneration comprised:

Group
2023
Company
2023
2024
(unaudited)
2024
(unaudited)
£
£
£
£
Wages and salaries
7,832,871
6,885,269
7,260,084
6,605,375
Social security costs
863,096
805,043
803,534
773,336
Pension costs
717,005
304,910
701,744
297,647
9,412,972
7,995,222
8,765,362
7,676,358
7
Directors' remuneration
2024
2023
(unaudited)
£
£
Remuneration for qualifying services
942,811
895,027
Company pension contributions to defined contribution schemes
149,203
76,783
1,092,014
971,810
THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
7
Directors' remuneration
(Continued)
- 22 -
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2024
2023
(unaudited)
£
£
Remuneration for qualifying services
175,853
145,116
Company pension contributions to defined contribution schemes
31,500
15,563
8
Interest receivable and similar income
2024
2023
(unaudited)
£
£
Interest income
Interest on bank deposits
290
151
Other interest income
-
290
Total income
290
441
9
Interest payable and similar expenses
2024
2023
(unaudited)
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
18,284
35,287
Other interest on financial liabilities
-
608
Total finance costs
18,284
35,895
10
Taxation
2024
2023
(unaudited)
£
£
Current tax
UK corporation tax on profits for the current period
175,962
195,957
Adjustments in respect of prior periods
3,377
-
0
Total current tax
179,339
195,957
Deferred tax
Origination and reversal of timing differences
(18,900)
(1,522)
Total tax charge
160,439
194,435
THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
10
Taxation
(Continued)
- 23 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
(unaudited)
£
£
Profit before taxation
543,752
1,240,461
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
135,938
291,508
Tax effect of expenses that are not deductible in determining taxable profit
3,017
1,703
Tax effect of utilisation of tax losses not previously recognised
-
0
(73,355)
Group relief
-
0
(989)
Amortisation on assets not qualifying for tax allowances
17,636
8,289
Under/(over) provided in prior years
3,377
-
0
Other
471
(32,721)
Taxation charge
160,439
194,435
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
537,841
Amortisation and impairment
At 1 July 2023
185,165
Amortisation charged for the year
82,287
At 30 June 2024
267,452
Carrying amount
At 30 June 2024
270,389
At 30 June 2023
352,676
THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
11
Intangible fixed assets
(Continued)
- 24 -
Company
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
185,126
Amortisation and impairment
At 1 July 2023
149,894
Amortisation charged for the year
11,744
At 30 June 2024
161,638
Carrying amount
At 30 June 2024
23,488
At 30 June 2023
35,232
12
Tangible fixed assets
Group
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 July 2023
322,674
25,566
35,406
383,646
Additions
15,306
1,364
3,465
20,135
Disposals
(17,616)
-
0
(23,178)
(40,794)
At 30 June 2024
320,364
26,930
15,693
362,987
Depreciation and impairment
At 1 July 2023
252,389
24,630
24,941
301,960
Depreciation charged in the year
56,289
638
3,038
59,965
Eliminated in respect of disposals
(15,435)
-
0
(18,214)
(33,649)
At 30 June 2024
293,243
25,268
9,765
328,276
Carrying amount
At 30 June 2024
27,121
1,662
5,928
34,711
At 30 June 2023
70,285
936
10,465
81,686
THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
12
Tangible fixed assets
(Continued)
- 25 -
Company
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 July 2023
322,674
25,566
348,240
Additions
15,306
1,364
16,670
Disposals
(17,616)
-
0
(17,616)
At 30 June 2024
320,364
26,930
347,294
Depreciation and impairment
At 1 July 2023
252,389
24,630
277,019
Depreciation charged in the year
56,289
638
56,927
Eliminated in respect of disposals
(15,435)
-
0
(15,435)
At 30 June 2024
293,243
25,268
318,511
Carrying amount
At 30 June 2024
27,121
1,662
28,783
At 30 June 2023
70,285
936
71,221
13
Fixed asset investments
Group
2023
Company
2023
2024
(unaudited)
2024
(unaudited)
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
476,523
626,523

The directors conducted an impairment assessment as of 30 June 2024 and concluded that it was prudent to recognise an impairment of £150,000 in relation to the investment in Neontribe Limited.

THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
13
Fixed asset investments
(Continued)
- 26 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 July 2023 and 30 June 2024
626,523
Impairment
At 1 July 2023
-
Impairment losses
150,000
At 30 June 2024
150,000
Carrying amount
At 30 June 2024
476,523
At 30 June 2023
626,523
14
Subsidiaries

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

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Neontribe Limited
England
Software Development
Ordinary
100.00

The above subsidiary company has the same registered address as noted on the company information page in these financial statements.

15
Debtors
Group
2023
Company
2023
2024
(unaudited)
2024
(unaudited)
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,374,484
2,131,725
1,300,485
1,966,158
Corporation tax recoverable
8,887
8,778
-
0
-
0
Other debtors
23,676
34,950
23,676
34,950
Prepayments and accrued income
80,509
238,085
80,509
236,585
1,487,556
2,413,538
1,404,670
2,237,693
Amounts falling due after more than one year:
Deferred tax asset (note 19)
18,000
12,500
7,000
-
0
Total debtors
1,505,556
2,426,038
1,411,670
2,237,693
THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 27 -
16
Creditors: amounts falling due within one year
Group
2023
Company
2023
2024
(unaudited)
2024
(unaudited)
Notes
£
£
£
£
Bank loans
18
94,050
104,316
94,050
104,316
Trade creditors
420,214
668,266
423,981
667,534
Corporation tax payable
175,962
195,957
175,962
195,957
Other taxation and social security
576,549
892,201
544,498
848,069
Other creditors
154,337
458,307
154,337
457,473
Accruals and deferred income
233,481
124,870
212,281
108,485
1,654,593
2,443,917
1,605,109
2,381,834

Bank loan of £94,050 (2023 - £104,316 ) is secured by a fixed charge over the assets of the company.

17
Creditors: amounts falling due after more than one year
Group
2023
Company
2023
2024
(unaudited)
2024
(unaudited)
Notes
£
£
£
£
Bank loans and overdrafts
18
63,751
139,553
63,751
139,553
18
Loans and overdrafts
Group
2023
Company
2023
2024
(unaudited)
2024
(unaudited)
£
£
£
£
Bank loans
157,801
243,869
157,801
243,869
Payable within one year
94,050
104,316
94,050
104,316
Payable after one year
63,751
139,553
63,751
139,553

The company took out two Coronavirus Business Interruption Loan Scheme loans; for £250,000 on 12 January 2021 and for £100,000 on 9 March 2021. The loans are repayable over 5 years and interest is charged at a fixed rate of 8.90% on both. No interest was charged for the first 12 months of the loans. The loans are secured by a fixed charge over the assets of the company.

THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 28 -
19
Deferred taxation

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

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
(unaudited)
(unaudited)
Group
£
£
£
£
Accelerated capital allowances
7,000
20,400
-
-
Tax losses
-
-
11,000
12,500
Provisions
-
-
7,000
-
7,000
20,400
18,000
12,500
Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
(unaudited)
(unaudited)
Company
£
£
£
£
Accelerated capital allowances
7,000
17,800
-
-
Provisions
-
-
7,000
-
7,000
17,800
7,000
-
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 July 2023
7,900
17,800
Credit to profit or loss
(18,900)
(17,800)
Asset at 30 June 2024
(11,000)
-
20
Retirement benefit schemes
2024
2023
(unaudited)
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
717,005
304,910

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 29 -
21
Share capital
Group and company
2024
2023
2024
2023
(unaudited)
(unaudited)
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
22
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
2023
Company
2023
2024
(unaudited)
2024
(unaudited)
£
£
£
£
Within one year
123,790
99,780
123,790
97,320
Between two and five years
23,616
-
23,616
-
147,406
99,780
147,406
97,320
23
Parent company guarantee of subsidiaries

The Dextrous Web Limited has, in accordance with S479C of the Companies Act 2006, provided a guarantee over the liabilities of its subsidiary, Neontribe Ltd (company registration number 06165574; registered in England & Wales) which permits the subsiudiary to not obtain an audit of its individual financial statements for the year ended 30 June 2024, in accordance with the exemptions conferred by S479A Companies Act 2006. The registered office of the subsidiary is Studio 1.05c Level 1 Department Leeds Dock, The Boulevard, Leeds, England, LS10 1PZ.

24
Related party transactions
Transactions with related parties

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

Contributions to the Employee Ownership Trust
2024
2023
(unaudited)
£
£
Group
Entities with control, joint control or significant influence over the company
678,944
902,616
Company
Entities with control, joint control or significant influence over the company
678,944
902,616
THE DEXTROUS WEB LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 30 -
25
Controlling party

The parent company of The Dextrous Web Ltd is The Public Services Trust Limited and its registered office is Studio 1.05c Level 1 Department Leeds Dock, The Boulevard, Leeds, England, LS10 1PZ.

26
Cash generated from group operations
2024
2023
(unaudited)
£
£
Profit for the year after tax
383,313
1,046,026
Adjustments for:
Taxation charged
160,439
194,435
Finance costs
18,284
35,895
Investment income
(290)
(441)
Loss/(gain) on disposal of tangible fixed assets
5,424
(3,778)
Amortisation and impairment of intangible assets
82,287
67,586
Depreciation and impairment of tangible fixed assets
59,965
58,634
Movements in working capital:
Decrease/(increase) in debtors
926,091
(1,607,916)
(Decrease)/increase in creditors
(759,062)
1,187,751
Cash generated from operations
876,450
978,192
27
Analysis of changes in net funds - group
1 July 2023
Cash flows
30 June 2024
£
£
£
Cash at bank and in hand
1,040,604
(124,413)
916,191
Borrowings excluding overdrafts
(243,869)
86,068
(157,801)
796,735
(38,345)
758,390
2024-06-302023-07-01falseCCH SoftwareCCH Accounts Production 2024.210D MannW A CoelloJ T R FernandezJ HilditchA M L JacksonC E YoungJ FlowersA ApostolouJ A 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