Company registration number 01888633 (England and Wales)
CHARLES JACKSON & CO. LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
CHARLES JACKSON & CO. LIMITED
COMPANY INFORMATION
Directors
Mr CM Jackson
Mrs J Jackson
Mr CJ Jackson
(Appointed 1 June 2023)
Mr TW Jackson
(Appointed 1 June 2023)
Secretary
Mrs J Jackson
Company number
01888633
Registered office
White Barn
Station Road
Long Buckby
Northamptonshire
NN6 7QA
Auditor
Cottons Accountants LLP
The Stables
Church Walk
Daventry
Northamptonshire
UK
NN11 4BL
CHARLES JACKSON & CO. LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 8
Profit and loss account
9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Statement of cash flows
13
Notes to the financial statements
14 - 29
CHARLES JACKSON & CO. LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 1 -
The directors present the strategic report for the year ended 31 May 2024.
Review of the business
The company has been buying grain from local farmers, adding value to these crops and building long-term supply relationships for nearly 40 years. We have central storage and drying facilities where we find ourselves an integrated part of many local farmer’s business plans. We pride ourselves on adding value to crops and providing farmers with markets for locally grown crops. Arable crops are our main focus, our customers make a variety of food and animal feed products. We also have an animal feed and pellet production facility to process and sell the by-products generated from food production.
As a family business we believe relationships with our customers and our supply chain are extremely important. We pride ourselves on our willingness to take on new challenges and go the extra mile to provide a premium service.
Business activity has remained good. However, turnover has reduced, due to a fall in commodity prices. Global geopolitical events continue to cause uncertainty and volatility in commodity prices.
We have increased our haulage fleet as having additional control over our customer deliveries has been deemed important.
During the year we have undergone several refurbishment projects. This has covered several key aspects of our facilities and infrastructure, ranging from office improvements through to cleaning plant upgrades.
We have committed to adding an extra 450kWh of solar panels and battery storage to our existing 250kWh solar installation. Along with our existing biomass boiler, this will be a big step towards reducing our carbon emissions.
Principal risks and uncertainties
Commodity prices remain volatile especially due to the war in Ukraine but the past performance of management personnel ensures the risk is minimal.
Development and performance
The company continues to grow, is developing new markets for arable crops and continues to invest in capital expenditure. Turnover has decreased this year as a result of generally lower commodity prices, trade and core activities remain strong.
The company is pleased to appoint Tom Jackson & Chris Jackson as new directors to the business from 01 June 2023.
Key performance indicators
The gross profit continues to be strong (19% compared to 13.7% last year).
Promoting the success of the company
The directors have based their assessment of the company's long-term plan, which is updated and approved annually by the Board.
The directors undertake board meetings for any major business decisions and as a result:
• consider any likely consequences of decisions for the long term,
• the interests of the company's employees,
• the need to foster the company's business relationships with suppliers, customers and others,
• the impact of the company's operations on the community and the environment,
• the desirability of the company maintaining a reputation for high standards of business conduct, and
• the need to act fairly as between members of the company.
CHARLES JACKSON & CO. LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
Mr CM Jackson
Director
10 February 2025
CHARLES JACKSON & CO. LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
The directors present their annual report and financial statements for the year ended 31 May 2024.
Principal activities
The principal activity of the company continued to be that of the buying, selling and storage of arable crops.
Results and dividends
The results for the year are set out on page 9.
Ordinary dividends were paid amounting to £1,200,000. 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:
Mr CM Jackson
Mrs J Jackson
Mr CJ Jackson
(Appointed 1 June 2023)
Mr TW Jackson
(Appointed 1 June 2023)
Auditor
The auditors, Cottons Accountants LLP, are deemed to be reappointed under section 487 (2) of the Companies Act 2006.
Energy and carbon report
We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2020 UK Government’s Conversion Factors for Company Reporting.
2024
2023
Energy consumption
kWh
kWh
Aggregate of energy consumption in the year
2,500,000
2,600,000
2024
2023
Emissions of CO2 equivalent
metric tonnes
metric tonnes
Scope 1 - direct emissions
- Gas combustion
-
-
- Fuel consumed for owned transport
743.77
746.40
743.77
746.40
Scope 2 - indirect emissions
- Electricity purchased
512.33
532.82
Scope 3 - other indirect emissions
- Fuel consumed for transport not owned by the company
-
-
Total gross emissions
1,256.10
1,279.22
Intensity ratio
Tonnes CO2e per employee
26.17
28.43
CHARLES JACKSON & CO. LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
Quantification and reporting methodology
We used the Government’s Greenhouse Gas Conversion Factors for Company Reporting.
Intensity measurement
The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per employee, the recommended ratio for the sector.
Measures taken to improve energy efficiency
We have committed to adding an extra 450kWh of solar panels and battery storage to our existing 250kWh solar installation. Along with our existing biomass boiler, this will be a big step towards reducing our carbon emissions. We are continuing to invest in a newer vehicle fleet so that we benefit from the improved energy efficiencies in this area.
Statement of directors' responsibilities
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 company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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 company’s auditor 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 company’s auditor is aware of that information.
On behalf of the board
Mr CM Jackson
Director
10 February 2025
CHARLES JACKSON & CO. LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF CHARLES JACKSON & CO. LIMITED
- 5 -
Opinion
We have audited the financial statements of Charles Jackson & Co. Limited (the 'company') for the year ended 31 May 2024 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the 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:
give a true and fair view of the state of the company's affairs as at 31 May 2024 and of its 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.
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 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 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.
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 information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
CHARLES JACKSON & CO. LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF CHARLES JACKSON & CO. LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its 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:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of 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 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 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 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.
CHARLES JACKSON & CO. LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF CHARLES JACKSON & CO. LIMITED (CONTINUED)
- 7 -
Auditor's responsibilities continued
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the computer component manufacturing and supply sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including Companies Act 2006 and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;
- investigated the rationale behind significant or unusual transactions;
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims;
- reviewing correspondence with HMRC, relevant regulators and the company’s legal advisors;
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
This report is made solely to the company's member 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 member those matters we are required to state to the member 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 member, for our audit work, for this report, or for the opinions we have formed.
CHARLES JACKSON & CO. LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF CHARLES JACKSON & CO. LIMITED (CONTINUED)
- 8 -
Richard Wilch FCCA
Senior Statutory Auditor
For and on behalf of Cottons Accountants LLP
10 February 2025
Chartered Accountants
Statutory Auditor
The Stables
Church Walk
Daventry
Northamptonshire
UK
NN11 4BL
CHARLES JACKSON & CO. LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2024
- 9 -
2024
2023
Notes
£
£
Turnover
3
41,353,746
46,286,932
Cost of sales
(33,478,211)
(39,936,655)
Gross profit
7,875,535
6,350,277
Administrative expenses
(5,469,372)
(4,761,007)
Other operating income
373,005
293,394
Operating profit
4
2,779,168
1,882,664
Interest payable and similar expenses
8
(383,214)
(352,881)
Profit before taxation
2,395,954
1,529,783
Tax on profit
9
(378,446)
256,076
Profit for the financial year
2,017,508
1,785,859
The profit and loss account has been prepared on the basis that all operations are continuing operations.
CHARLES JACKSON & CO. LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024
- 10 -
2024
2023
£
£
Profit for the year
2,017,508
1,785,859
Other comprehensive income
-
-
Total comprehensive income for the year
2,017,508
1,785,859
CHARLES JACKSON & CO. LIMITED
BALANCE SHEET
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
9,417,519
9,109,846
Current assets
Stocks
13
3,364,955
2,678,350
Debtors
14
5,256,650
6,369,919
Cash at bank and in hand
411,660
255,745
9,033,265
9,304,014
Creditors: amounts falling due within one year
15
(8,373,005)
(9,278,476)
Net current assets
660,260
25,538
Total assets less current liabilities
10,077,779
9,135,384
Creditors: amounts falling due after more than one year
16
(1,988,250)
(2,241,809)
Provisions for liabilities
Deferred tax liability
19
1,139,909
761,463
(1,139,909)
(761,463)
Net assets
6,949,620
6,132,112
Capital and reserves
Called up share capital
22
265,000
265,000
Profit and loss reserves
23
6,684,620
5,867,112
Total equity
6,949,620
6,132,112
The financial statements were approved by the board of directors and authorised for issue on 10 February 2025 and are signed on its behalf by:
Mr CM Jackson
Director
Company registration number 01888633 (England and Wales)
CHARLES JACKSON & CO. LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2022
265,000
4,581,253
4,846,253
Year ended 31 May 2023:
Profit and total comprehensive income
-
1,785,859
1,785,859
Dividends
10
-
(500,000)
(500,000)
Balance at 31 May 2023
265,000
5,867,112
6,132,112
Year ended 31 May 2024:
Profit and total comprehensive income
-
2,017,508
2,017,508
Dividends
10
-
(1,200,000)
(1,200,000)
Balance at 31 May 2024
265,000
6,684,620
6,949,620
CHARLES JACKSON & CO. LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024
- 13 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
29
3,650,690
3,684,066
Interest paid
(383,214)
(352,881)
Income taxes refunded
107,022
46,090
Net cash inflow from operating activities
3,374,498
3,377,275
Investing activities
Purchase of tangible fixed assets
(1,152,148)
(2,991,704)
Proceeds from disposal of tangible fixed assets
17,819
54,101
Net cash used in investing activities
(1,134,329)
(2,937,603)
Financing activities
Repayment of borrowings
(682,724)
(849,117)
Repayment of bank loans
(116,870)
751,208
Payment of finance leases obligations
(156,605)
9,306
Dividends paid
(1,200,000)
(500,000)
Net cash used in financing activities
(2,156,199)
(588,603)
Net increase/(decrease) in cash and cash equivalents
83,970
(148,931)
Cash and cash equivalents at beginning of year
255,745
404,676
Cash and cash equivalents at end of year
339,715
255,745
Relating to:
Cash at bank and in hand
411,660
255,745
Bank overdrafts included in creditors payable within one year
(71,945)
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 14 -
1
Accounting policies
Company information
Charles Jackson & Co. Limited is a private company limited by shares incorporated in England and Wales. The registered office is White Barn, Station Road, Long Buckby, Northamptonshire, NN6 7QA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company 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.
1.3
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 the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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.
1.4
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.5
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.
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 15 -
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:
Freehold land and buildings
Over the life of the asset
Plant and equipment
Over the life of the asset
Fixtures and fittings
20% reducing balance
Computers
20% reducing balance
Motor vehicles
15% reducing balance
Tools and equipment
20% 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 credited or charged to profit or loss.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible 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.
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.
1.7
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 16 -
1.8
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.
1.9
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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 company 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.
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 17 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, 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 company’s contractual obligations expire or are discharged or cancelled.
1.10
Equity instruments
Equity instruments issued by the company 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 company.
1.11
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 company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 18 -
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 when the company has 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.
1.12
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.
1.13
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.14
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
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 leases asset are consumed.
1.15
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 19 -
1.16
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’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.
3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Sale of goods
38,565,760
43,276,858
Sale of services
2,787,986
3,010,074
41,353,746
46,286,932
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
32,611,024
35,909,957
Europe
8,742,722
10,376,975
41,353,746
46,286,932
2024
2023
£
£
Other revenue
Grants received
147,123
134,480
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 20 -
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Research and development costs
49,193
-
Government grants
(147,123)
(134,480)
Depreciation of owned tangible fixed assets
737,051
582,626
Depreciation of tangible fixed assets held under finance leases
70,203
92,441
Loss/(profit) on disposal of tangible fixed assets
19,402
(25,558)
Operating lease charges
99,996
91,851
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
10,500
8,250
For other services
All other non-audit services
4,440
11,381
6
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Office
16
14
Direct
32
31
Total
48
45
Their aggregate remuneration comprised:
2024
2023
£
£
Wages and salaries
1,567,954
1,425,652
Social security costs
148,224
140,432
Pension costs
249,056
182,307
1,965,234
1,748,391
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 21 -
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
149,997
57,881
Company pension contributions to defined contribution schemes
214,000
81,826
363,997
139,707
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 4 (2023 - 2).
8
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
120,932
52,966
Interest on invoice finance arrangements
171,229
211,019
Other interest on financial liabilities
72,563
64,446
364,724
328,431
Other finance costs:
Interest on finance leases and hire purchase contracts
18,490
24,450
383,214
352,881
9
Taxation
2024
2023
£
£
Current tax
Adjustments in respect of prior periods
(108,054)
Deferred tax
Origination and reversal of timing differences
378,446
(148,022)
Total tax charge/(credit)
378,446
(256,076)
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
9
Taxation
(Continued)
- 22 -
The actual charge/(credit) for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
2,395,954
1,529,783
Expected tax charge based on the standard rate of corporation tax in the UK of 19.00% (2023: 19.00%)
455,231
290,659
Tax effect of expenses that are not deductible in determining taxable profit
(83,381)
854
Tax effect of utilisation of tax losses not previously recognised
(294,066)
(300,784)
Unutilised tax losses carried forward
466,410
Capital allowances in excess of depreciation
(77,784)
(565,193)
Deferred taxation movement
378,446
(148,022)
Taxation charge/(credit) for the year
378,446
(256,076)
10
Dividends
2024
2023
£
£
Final paid
1,200,000
500,000
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 23 -
11
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Tools and equipment
Total
£
£
£
£
£
£
£
Cost
At 1 June 2023
2,191,773
11,875,132
23,587
283,549
1,701,987
204,862
16,280,890
Additions
831,153
12,264
305,111
3,620
1,152,148
Disposals
(57,000)
(57,000)
At 31 May 2024
2,191,773
12,706,285
23,587
295,813
1,950,098
208,482
17,376,038
Depreciation and impairment
At 1 June 2023
1,340,600
4,868,044
13,092
235,476
524,160
189,672
7,171,044
Depreciation charged in the year
66,134
543,680
763
11,787
183,028
1,862
807,254
Eliminated in respect of disposals
(19,779)
(19,779)
At 31 May 2024
1,406,734
5,411,724
13,855
247,263
687,409
191,534
7,958,519
Carrying amount
At 31 May 2024
785,039
7,294,561
9,732
48,550
1,262,689
16,948
9,417,519
At 31 May 2023
851,173
7,007,088
10,495
48,073
1,177,827
15,190
9,109,846
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
11
Tangible fixed assets
(Continued)
- 24 -
The carrying value of land and buildings comprises:
2024
2023
£
£
Freehold
785,039
850,524
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
2024
2023
£
£
Plant and equipment
265,961
281,218
Motor vehicles
299,766
381,455
565,727
662,673
Included in cost of land and buildings is freehold land of £40,000 (2023: £40,000) which is not depreciated.
12
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
5,256,650
6,262,897
Carrying amount of financial liabilities
Measured at amortised cost
9,705,019
10,847,913
13
Stocks
2024
2023
£
£
Finished goods and goods for resale
3,364,955
2,678,350
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,629,844
5,758,871
Corporation tax recoverable
107,022
Other debtors
626,806
504,026
5,256,650
6,369,919
Included within other debtors is £161,600 (2023: £25,000) owed by related party UK Poppy Products Limited, a company controlled by director Mr C M Jackson.
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 25 -
15
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans and overdrafts
17
238,445
166,500
Bills of exchange
17
3,171,931
3,854,655
Obligations under finance leases
18
137,333
156,606
Trade creditors
2,921,186
3,808,636
Amounts owed to group undertakings
1,050,000
500,000
Taxation and social security
34,921
30,363
Government grants
20
113,143
134,480
Other creditors
237,676
226,541
Accruals and deferred income
468,370
400,695
8,373,005
9,278,476
16
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
17
1,284,505
1,401,375
Obligations under finance leases
18
195,573
332,905
Government grants
20
508,172
507,529
1,988,250
2,241,809
Amounts included above which fall due after five years are as follows:
Payable by instalments
618,505
735,375
17
Loans and overdrafts
2024
2023
£
£
Bank loans
1,451,005
1,567,875
Bank overdrafts
71,945
Bills of exchange
3,171,931
3,854,655
4,694,881
5,422,530
Payable within one year
3,410,376
4,021,155
Payable after one year
1,284,505
1,401,375
The bank loan accrues interest at 2.59% per annum over Base Rate.
The bank loan and invoice discounting liabilities are secured by a fixed and floating charge over the assets of the company.
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 26 -
18
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
137,333
156,606
In two to five years
195,573
332,905
332,906
489,511
19
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
1,524,284
1,433,528
Tax losses
(384,375)
(672,065)
1,139,909
761,463
2024
Movements in the year:
£
Liability at 1 June 2023
761,463
Charge to profit or loss
378,446
Liability at 31 May 2024
1,139,909
20
Government grants
2024
2023
£
£
Arising from government grants
621,315
642,009
Included in the financial statements as follows:
Current liabilities
113,143
134,480
Non-current liabilities
508,172
507,529
621,315
642,009
Government grants income received is spread over the life of the asset it relates to. No income is expected to be repaid.
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 27 -
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
249,056
182,307
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
22
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
190,000
190,000
190,000
190,000
Ordinary B of £1 each
75,000
75,000
75,000
75,000
265,000
265,000
265,000
265,000
23
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
5,867,112
4,581,253
Profit for the year
2,017,508
1,785,859
Dividends declared and paid in the year
(1,200,000)
(500,000)
At the end of the year
6,684,620
5,867,112
24
Contingent liability
There were no contingent liabilities outstanding at the year end.
25
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2024
2023
£
£
Within one year
97,252
85,406
Between two and five years
98,422
171,981
195,674
257,387
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 28 -
26
Related party transactions
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2024
2023
£
£
Aggregate compensation
135,636
44,500
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Haulage Income
Overheads recharged
2024
2023
2024
2023
£
£
£
£
Entities with control, joint control or significant influence over the company
12,950
7,650
144,000
144,000
27
Directors' transactions
Dividends totalling £0 (2023 - £500,000) were paid in the year in respect of shares held by the company's directors.
28
Ultimate controlling party
The parent company at the year end was TLF Holdings Limited and the principal place of business is the same as the company.
The controlling party and the ultimate controlling party during the current and previous year is Mr C.M Jackson. Mr C.M Jackson is a director and the majority shareholder of the parent company.
CHARLES JACKSON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 29 -
29
Cash generated from operations
2024
2023
£
£
Profit for the year after tax
2,017,508
1,785,859
Adjustments for:
Taxation charged/(credited)
378,446
(256,076)
Finance costs
383,214
352,881
Loss/(gain) on disposal of tangible fixed assets
19,402
(25,558)
Depreciation and impairment of tangible fixed assets
807,254
675,067
Movements in working capital:
(Increase)/decrease in stocks
(686,605)
1,907,145
Decrease/(increase) in debtors
1,006,247
(151,244)
Decrease in creditors
(254,082)
(812,077)
(Decrease)/increase in deferred income
(20,694)
208,069
Cash generated from operations
3,650,690
3,684,066
30
Analysis of changes in net debt
1 June 2023
Cash flows
31 May 2024
£
£
£
Cash at bank and in hand
255,745
155,915
411,660
Bank overdrafts
(71,945)
(71,945)
255,745
83,970
339,715
Borrowings excluding overdrafts
(5,422,530)
799,594
(4,622,936)
Obligations under finance leases
(489,511)
156,605
(332,906)
(5,656,296)
1,040,169
(4,616,127)
31
Auditor's liability limitation agreement
Upon appointment of Cottons Accountants LLP as auditors, the company entered into a limitation liability agreement with the auditors and this was approved by resolution on 25th June 2024. Liability is limited to the lesser of 20 times the audit fee or £210,000. In accordance with section 537 of CA06, the effect of the liability limitation agreement is to limit the auditor's liability to less than such amount as is fair and reasonable, as determined by that section, the agreement shall have effect as if it limited the liability to such amount as is fair and reasonable, as so determined.
The agreement limits the liability owed to the company by the auditors in respect of any negligence, default or breach of duty, or breach of trust, occurring in the course of the audit of the accounts for the year ending 31st May 2024.
The agreement does not limit liability for any instance of fraud or dishonesty on behalf of the auditor or any other liability that cannot be excluded or restricted by applicable laws or regulations.
2024-05-312023-06-01falsefalsefalseCCH SoftwareCCH Accounts Production 2024.300Mr CM JacksonMr CJ JacksonMr TW JacksonMr T W JacksonMrs J Jackson018886332023-06-012024-05-3101888633bus:Director12023-06-012024-05-3101888633bus:CompanySecretaryDirector12023-06-012024-05-3101888633bus:Director22023-06-012024-05-3101888633bus:Director32023-06-012024-05-3101888633bus:CompanySecretary12023-06-012024-05-3101888633bus:Director42023-06-012024-05-3101888633bus:RegisteredOffice2023-06-012024-05-31018886332024-05-31018886332022-06-012023-05-3101888633core:RetainedEarningsAccumulatedLosses2022-06-012023-05-3101888633core:RetainedEarningsAccumulatedLosses2023-06-012024-05-31018886332023-05-3101888633core:LandBuildingscore:OwnedOrFreeholdAssets2024-05-3101888633core:PlantMachinery2024-05-3101888633core:FurnitureFittings2024-05-3101888633core:ComputerEquipment2024-05-3101888633core:MotorVehicles2024-05-3101888633core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-05-3101888633core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-3101888633core:PlantMachinery2023-05-3101888633core:FurnitureFittings2023-05-3101888633core:ComputerEquipment2023-05-3101888633core:MotorVehicles2023-05-3101888633core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-05-3101888633core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3101888633core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3101888633core:Non-currentFinancialInstrumentscore:AfterOneYear2024-05-3101888633core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-3101888633core:CurrentFinancialInstruments2024-05-3101888633core:CurrentFinancialInstruments2023-05-3101888633core:Non-currentFinancialInstruments2024-05-3101888633core:Non-currentFinancialInstruments2023-05-3101888633core:ShareCapital2024-05-3101888633core:ShareCapital2023-05-3101888633core:RetainedEarningsAccumulatedLosses2024-05-3101888633core:RetainedEarningsAccumulatedLosses2023-05-3101888633core:ShareCapital2022-05-3101888633core:RetainedEarningsAccumulatedLosses2022-05-3101888633core:ShareCapitalOrdinaryShares2024-05-3101888633core:ShareCapitalOrdinaryShares2023-05-3101888633core:RetainedEarningsAccumulatedLosses2023-05-310188863312023-06-012024-05-310188863312022-06-012023-05-31018886332023-05-31018886332022-05-3101888633core:WithinOneYear2024-05-3101888633core:WithinOneYear2023-05-3101888633core:LandBuildingscore:OwnedOrFreeholdAssets2023-06-012024-05-3101888633core:PlantMachinery2023-06-012024-05-3101888633core:FurnitureFittings2023-06-012024-05-3101888633core:ComputerEquipment2023-06-012024-05-3101888633core:MotorVehicles2023-06-012024-05-3101888633core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-06-012024-05-3101888633core:UKTax2023-06-012024-05-3101888633core:UKTax2022-06-012023-05-310188863322023-06-012024-05-310188863322022-06-012023-05-3101888633core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-3101888633core:PlantMachinery2023-05-3101888633core:FurnitureFittings2023-05-3101888633core:ComputerEquipment2023-05-3101888633core:MotorVehicles2023-05-3101888633core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-05-3101888633core:BetweenTwoFiveYears2024-05-3101888633core:BetweenTwoFiveYears2023-05-3101888633bus:PrivateLimitedCompanyLtd2023-06-012024-05-3101888633bus:FRS1022023-06-012024-05-3101888633bus:Audited2023-06-012024-05-3101888633bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP