REGISTERED NUMBER: 12435658 (England and Wales) |
ACTIVE SOLUTIONS GROUP LIMITED |
GROUP STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
REGISTERED NUMBER: 12435658 (England and Wales) |
ACTIVE SOLUTIONS GROUP LIMITED |
GROUP STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Directors | 4 |
Report of the Independent Auditors | 6 |
Consolidated Income Statement | 10 |
Consolidated Other Comprehensive Income | 11 |
Consolidated Balance Sheet | 12 |
Company Balance Sheet | 13 |
Consolidated Statement of Changes in Equity | 15 |
Company Statement of Changes in Equity | 16 |
Consolidated Cash Flow Statement | 17 |
Notes to the Consolidated Cash Flow Statement | 18 |
Notes to the Consolidated Financial Statements | 19 |
ACTIVE SOLUTIONS GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: | Andrew Baggott ACA CTA |
AUDITORS: |
Chartered Accountants and |
Statutory Auditors |
Clarke Nicklin House |
Brooks Drive |
Cheadle Royal Business Park |
Cheadle |
Cheshire |
SK8 3TD |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 30 APRIL 2024 |
The directors present their strategic report of the company and the group for the year ended 30 April 2024. |
The directors present their strategic report for the year ended 30 April 2024. |
Active Solutions Group Limited is a leading provider of commercial flooring solutions across the UK construction sector. The group specialises in supplying and installing a wide range of flooring products, including vinyl, carpet, carpet tiles, linoleum, rubber flooring, screeds, and underfloor heating. Active Solutions Group Limited partners with major contractors and works on large-scale projects such as high-rise residential developments, schools, hospitals, and commercial buildings. |
REVIEW OF BUSINESS |
The financial year ending 30 April 2024 has been a period of growth and operational development for the group. A key highlight was strengthening our presence and service capabilities in the South region, aligning with our objective to enhance client service across the UK. |
We maintain good relations and preferred status with a number of the UK's leading contractors, reflecting our commitment to quality, service excellence, and strong client relationships. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The business operates within the UK construction sector, which is subject to economic fluctuations, supply chain disruptions, and regulatory changes. However, the directors are confident that the group’s quality management system and proactive risk assessment processes are sufficient to mitigate potential risks. Regular audits, robust supply chain management, and continuous staff training are key components of our risk management strategy. |
FINANCIAL RISK MANAGEMENT |
The group is exposed to financial risks, including fluctuations in interest rates and credit risk. The directors note that the group maintains a strong cash position, providing resilience against financial uncertainties. The primary credit risk relates to trade debtors; however, the group mitigates this through comprehensive credit insurance and ongoing credit reviews. This ensures that any potential issues are identified early and addressed promptly. |
LIQUIDITY RISK |
The group maintains a proactive approach to cash flow management. Regular cash flow forecasts are conducted to ensure that sufficient funds are available to meet operational needs. This is further supported by established banking facilities, providing flexibility and financial stability to the business. |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 30 APRIL 2024 |
FINANCIAL KEY PERFORMANCE INDICATORS |
2024 | 2023 |
£ | £ |
Revenue | 17,707 | 16,282 |
Gross Profit | 4,763 | 4,168 |
Administrative Expenses | 2,803 | 2,079 |
Profit before tax | 2,206 | 2,132 |
Gross profit margin | 26.9% | 25.6% |
DEVELOPMENT AND PERFORMANCE |
Looking ahead, the directors remain optimistic about the group’s growth prospects. The focus will continue to be on delivering high-quality services to clients, with sustainability initiatives playing an increasingly important role. With a strong pipeline of projects and a dedicated team, the company is well-positioned for continued success in the coming year. |
ON BEHALF OF THE BOARD: |
21 January 2025 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 APRIL 2024 |
The directors present their report with the financial statements of the company and the group for the year ended 30 April 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the group in the year under review was that of floor specialists. |
DIVIDENDS |
The total distribution of dividends for the year ended 30 April 2024 will be £882,151. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report. |
CREDITOR PAYMENT POLICY |
It is the group's policy that payments to suppliers are made in accordance with those terms and conditions agreed between the group and its suppliers, provided that all trading terms and conditions have been complied with. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 APRIL 2024 |
AUDITORS |
The auditors, Clarke Nicklin LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ACTIVE SOLUTIONS GROUP LIMITED |
Opinion |
We have audited the financial statements of Active Solutions Group 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 directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, 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. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ACTIVE SOLUTIONS GROUP LIMITED |
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 Directors 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 Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the 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 Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ACTIVE SOLUTIONS GROUP LIMITED |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue 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: |
Procedures to identify risks: |
- | enquiring of management concerning the company's procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; |
- | discussing among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas: timing of recognition of sales and purchases and their related stock movements, posting of unusual journals; and |
- | obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the company. The key laws and regulations we considered in this context included UK Companies Act, employment law, health and safety, pensions legislation and tax legislation. |
The procedures to respond to risks identified included: |
- | reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations discussed above; |
- | 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; |
- | reviewing correspondence with HMRC; |
- | testing the timing and matching of income and expense transactions relating to stock movements either side of the year end; and |
- | 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. |
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulation that are not closely related to events and transactions reflected in the financial statements. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detection one resulting from an error, as fraud may involve deliberate concealment, by for example, forgery or intentional misrepresentation, or through collusion. |
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. |
Other matters which we are required to address |
The prior period financial statements were not audited. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ACTIVE SOLUTIONS GROUP 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. |
for and on behalf of |
Chartered Accountants and |
Statutory Auditors |
Clarke Nicklin House |
Brooks Drive |
Cheadle Royal Business Park |
Cheadle |
Cheshire |
SK8 3TD |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
CONSOLIDATED INCOME STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER | 17,868,752 | 16,282,802 |
Cost of sales | 12,943,818 | 12,114,636 |
GROSS PROFIT | 4,924,934 | 4,168,166 |
Administrative expenses | 2,803,779 | 2,079,473 |
2,121,155 | 2,088,693 |
Other operating income | 8,910 | 17,100 |
OPERATING PROFIT | 5 | 2,130,065 | 2,105,793 |
Interest receivable and similar income | 76,770 | 27,056 |
PROFIT BEFORE TAXATION | 2,206,835 | 2,132,849 |
Tax on profit | 6 | 617,280 | 481,452 |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 1,589,555 | 1,651,397 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
CONSOLIDATED OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
PROFIT FOR THE YEAR | 1,589,555 | 1,651,397 |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
1,589,555 |
1,651,397 |
Total comprehensive income attributable to: |
Owners of the parent | 1,589,555 | 1,651,397 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
CONSOLIDATED BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 9 | 1,120,075 | 1,312,087 |
Tangible assets | 10 | 892,048 | 583,369 |
Investments | 11 | - | - |
Investment property | 12 | 20,000 | 20,000 |
2,032,123 | 1,915,456 |
CURRENT ASSETS |
Debtors | 13 | 6,915,128 | 6,278,132 |
Cash at bank and in hand | 1,345,116 | 1,080,628 |
8,260,244 | 7,358,760 |
CREDITORS |
Amounts falling due within one year | 14 | 3,955,794 | 3,668,623 |
NET CURRENT ASSETS | 4,304,450 | 3,690,137 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
6,336,573 |
5,605,593 |
PROVISIONS FOR LIABILITIES | 16 | 129,496 | 105,920 |
NET ASSETS | 6,207,077 | 5,499,673 |
CAPITAL AND RESERVES |
Called up share capital | 17 | 226 | 226 |
Share premium | 18 | 17,984 | 17,984 |
Retained earnings | 18 | 6,188,867 | 5,481,463 |
SHAREHOLDERS' FUNDS | 6,207,077 | 5,499,673 |
The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by: |
E M L Greenhough - Director |
Mrs L A Keher - Director |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
COMPANY BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 9 |
Tangible assets | 10 |
Investments | 11 |
Investment property | 12 |
CURRENT ASSETS |
Debtors | 13 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 14 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 16 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 17 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 1,105,305 | 1,529,782 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
COMPANY BALANCE SHEET - continued |
30 APRIL 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 APRIL 2024 |
Called up |
share | Retained | Share | Total |
capital | earnings | premium | equity |
£ | £ | £ | £ |
Balance at 1 May 2022 | 214 | 4,615,066 | 5,996 | 4,621,276 |
Changes in equity |
Issue of share capital | 12 | - | 11,988 | 12,000 |
Dividends | - | (785,000 | ) | - | (785,000 | ) |
Total comprehensive income | - | 1,651,397 | - | 1,651,397 |
Balance at 30 April 2023 | 226 | 5,481,463 | 17,984 | 5,499,673 |
Changes in equity |
Dividends | - | (882,151 | ) | - | (882,151 | ) |
Total comprehensive income | - | 1,589,555 | - | 1,589,555 |
Balance at 30 April 2024 | 226 | 6,188,867 | 17,984 | 6,207,077 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
COMPANY STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 APRIL 2024 |
Called up |
share | Retained | Share | Total |
capital | earnings | premium | equity |
£ | £ | £ | £ |
Balance at 1 May 2022 |
Changes in equity |
Issue of share capital | - |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | - |
Balance at 30 April 2023 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | - |
Balance at 30 April 2024 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 2,700,493 | 1,413,416 |
Tax paid | (534,204 | ) | (279,137 | ) |
Net cash from operating activities | 2,166,289 | 1,134,279 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (723,434 | ) | (286,575 | ) |
Sale of tangible fixed assets | 231,380 | 74,067 |
Interest received | 76,770 | 27,056 |
Net cash from investing activities | (415,284 | ) | (185,452 | ) |
Cash flows from financing activities |
Amount introduced by directors | 254,201 | 37,699 |
Amount withdrawn by directors | (858,567 | ) | (510,000 | ) |
Share issue | - | 12 |
Equity dividends paid | (882,151 | ) | (535,000 | ) |
Net cash from financing activities | (1,486,517 | ) | (1,007,289 | ) |
Increase/(decrease) in cash and cash equivalents | 264,488 | (58,462 | ) |
Cash and cash equivalents at beginning of year |
2 |
1,080,628 |
1,139,090 |
Cash and cash equivalents at end of year |
2 |
1,345,116 |
1,080,628 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2024 | 2023 |
£ | £ |
Profit before taxation | 2,206,835 | 2,132,849 |
Depreciation charges | 375,768 | 343,726 |
Profit on disposal of fixed assets | (379 | ) | (30,570 | ) |
Government grants | - | (7,500 | ) |
Finance income | (76,770 | ) | (27,056 | ) |
2,505,454 | 2,411,449 |
Decrease/(increase) in trade and other debtors | 264,932 | (1,627,335 | ) |
(Decrease)/increase in trade and other creditors | (69,893 | ) | 629,302 |
Cash generated from operations | 2,700,493 | 1,413,416 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30 April 2024 |
30.4.24 | 1.5.23 |
£ | £ |
Cash and cash equivalents | 1,345,116 | 1,080,628 |
Year ended 30 April 2023 |
30.4.23 | 1.5.22 |
£ | £ |
Cash and cash equivalents | 1,080,628 | 1,139,090 |
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 | 1,080,628 | 264,488 | 1,345,116 |
1,080,628 | 264,488 | 1,345,116 |
Total | 1,080,628 | 264,488 | 1,345,116 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Active Solutions Group Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
In carrying out their duties in respect of going concern, the directors have carried out a review of the Group's financial position and cash flow forecast for a period of 12 months from the date of approval of these financial statements. The forecasts have been based on a comprehensive review of revenue, expenditure and cash flows, taking into account specific business risks and the uncertainties brought about by the current economic environment. |
To ensure the continuation of the Group the directors regularly review the cash flows of the Group both in the short and medium term, have a thorough approach to managing the working capital and hold regular reviews, which includes an assessment of any bad debt risk. This is supported by monitoring of key performance indicators. |
The Group's ability to continue as a going concern depends on it being able to respond to market trends and to capture new business opportunities arising in the market. The business continues to evolve in response to customers' needs. |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Profit is recognised at the fair value of the consideration received for installation and completion work for flooring projects. This is measured by reference to the stage of completion of each contract where there is reasonable certainty that the contract will be profitable and is shown net of VAT and other sales related taxes. Where the outcome of the contract cannot be established with reasonable certainty no profit is recognised. Foreseeable losses are provided for to the extent they are anticipated. |
Where the progress of contracts is measured overtime the revenue recognised reflects the value of the contract with reference to a survey of work performed. Normally this survey is conducted by a third party and as valuation certificate received. |
Where the value of work done exceeds the amounts invoiced, the excess is accounted for as amounts recoverable on contracts and is included within debtors. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can ne measured reliably. |
All revenue recognised arises from the provision of construction-related services. |
Goodwill |
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 |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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. |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
Long term contracts |
Long term contracts are assessed on a contract by contract basis and are reflected in the profit and loss account by recording turnover and related costs as contract progresses. Where the outcome of a contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the profit and loss account as the difference between reported turnover and related costs for that contract. |
Cash at bank and in hand |
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. |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
3. | CRITICAL ACCOUNTING 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 experienced 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 estimates is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both the current and future periods. |
Depreciation |
The rates of depreciation of the various classes of fixed asset have been used consistently from prior years to current year. |
Retention Reserve |
An estimate is made of the amount of retentions that management consider are irrecoverable. |
4. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries | 1,154,739 | 808,916 |
Social security costs | 163,579 | 117,209 |
Other pension costs | 297,915 | 230,472 |
1,616,233 | 1,156,597 |
The average number of employees during the year was as follows: |
2024 | 2023 |
Management | 5 | 5 |
Administration and operations | 36 | 31 |
2024 | 2023 |
£ | £ |
Directors' remuneration | 152,235 | 140,778 |
Directors' pension contributions to money purchase schemes | 255,750 | 210,327 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
5. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Hire of plant and machinery | 3,454 | 709 |
Depreciation - owned assets | 183,754 | 151,712 |
Profit on disposal of fixed assets | (379 | ) | (30,570 | ) |
Goodwill amortisation | 192,012 | 192,013 |
Auditors' remuneration | 20,500 | - |
Lease expenses | 51,106 | 20,302 |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax | 593,704 | 446,457 |
Deferred tax | 23,576 | 34,995 |
Tax on profit | 617,280 | 481,452 |
7. | 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. |
8. | DIVIDENDS |
2024 | 2023 |
£ | £ |
Ordinary shares of £0.10 each |
Interim | 882,151 | 535,000 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
9. | INTANGIBLE FIXED ASSETS |
Group |
Goodwill |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 | 1,920,128 |
AMORTISATION |
At 1 May 2023 | 608,041 |
Amortisation for year | 192,012 |
At 30 April 2024 | 800,053 |
NET BOOK VALUE |
At 30 April 2024 | 1,120,075 |
At 30 April 2023 | 1,312,087 |
10. | TANGIBLE FIXED ASSETS |
Group |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 May 2023 | - | 27,137 | 2,838 |
Additions | 80,098 | 5,174 | - |
Disposals | - | (1,715 | ) | (2,838 | ) |
At 30 April 2024 | 80,098 | 30,596 | - |
DEPRECIATION |
At 1 May 2023 | - | 9,704 | 2,231 |
Charge for year | 5,766 | 4,983 | - |
Eliminated on disposal | - | (1,067 | ) | (2,231 | ) |
At 30 April 2024 | 5,766 | 13,620 | - |
NET BOOK VALUE |
At 30 April 2024 | 74,332 | 16,976 | - |
At 30 April 2023 | - | 17,433 | 607 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
10. | TANGIBLE FIXED ASSETS - continued |
Group |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2023 | 814,860 | 37,043 | 881,878 |
Additions | 581,133 | 57,029 | 723,434 |
Disposals | (386,223 | ) | (8,515 | ) | (399,291 | ) |
At 30 April 2024 | 1,009,770 | 85,557 | 1,206,021 |
DEPRECIATION |
At 1 May 2023 | 274,574 | 12,000 | 298,509 |
Charge for year | 161,820 | 11,185 | 183,754 |
Eliminated on disposal | (160,413 | ) | (4,579 | ) | (168,290 | ) |
At 30 April 2024 | 275,981 | 18,606 | 313,973 |
NET BOOK VALUE |
At 30 April 2024 | 733,789 | 66,951 | 892,048 |
At 30 April 2023 | 540,286 | 25,043 | 583,369 |
Company |
Motor |
vehicles |
£ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
11. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertaking |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
12. | INVESTMENT PROPERTY |
Group |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
and 30 April 2024 | 20,000 |
NET BOOK VALUE |
At 30 April 2024 | 20,000 |
At 30 April 2023 | 20,000 |
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Trade debtors | 4,224,219 | 4,481,311 |
Amounts owed by group undertakings | - | - |
Other debtors | 1,294,611 | 1,380,812 |
Directors' current accounts | 903,204 | 254,203 | 264,917 | 260,000 |
Tax | 252,927 | - |
VAT | 166,318 | 108,091 |
Prepayments and accrued income | 73,849 | 51,215 |
Prepayments | - | 2,500 |
6,915,128 | 6,278,132 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Trade creditors | 1,461,916 | 1,313,815 |
Corporation tax | 758,882 | 446,455 |
Social security and other taxes | 124,248 | 113,042 |
VAT | - | - | 11,909 | - |
Other creditors | 164,291 | 179,626 |
Directors' current accounts | 208,278 | 163,641 | - | - |
Accruals and deferred income | 1,237,546 | 1,452,044 |
Accruals | 633 | - |
3,955,794 | 3,668,623 |
15. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Within one year | 107,601 | 20,302 |
Between one and five years | 295,065 | 1,692 |
402,666 | 21,994 |
16. | PROVISIONS FOR LIABILITIES |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Deferred tax |
Accelerated capital allowances | 39,565 | 10,771 |
Deferred tax | 89,931 | 95,149 | 89,931 | 95,149 |
129,496 | 105,920 | 89,931 | 95,149 |
Group |
Deferred |
tax |
£ |
Balance at 1 May 2023 | 105,920 |
Charge to Income Statement during year | 23,576 |
Balance at 30 April 2024 | 129,496 |
ACTIVE SOLUTIONS GROUP LIMITED (REGISTERED NUMBER: 12435658) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
16. | PROVISIONS FOR LIABILITIES - continued |
Company |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Credit to Statement of Income and Retained Earnings during year | ( |
) |
Balance at 30 April 2024 |
17. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
1,080 | A Ordinary | £0.10 | 108.00 | 108.00 |
740 | B Ordinary | £0.10 | 74.00 | 74.00 |
220 | C Ordinary | £0.10 | 22.00 | 22.00 |
204 | D Ordinary | £0.10 | 20.40 | 20,40 |
2 | E Ordinary | £0.10 | 0.20 | 0.20 |
20 | F Ordinary | £0.10 | 2,00 | 2.00 |
226.60 | 226.60 |
Specific rights, preferences and restrictions attaching to each class are included in the company's Articles and confirmation statement filed at Companies House. |
18. | RESERVES |
Group |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 May 2023 | 5,481,463 | 17,984 | 5,499,447 |
Profit for the year | 1,589,555 | 1,589,555 |
Dividends | (882,151 | ) | (882,151 | ) |
At 30 April 2024 | 6,188,867 | 17,984 | 6,206,851 |