Company registration number 09438175 (England and Wales)
HARLAXTON HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
HARLAXTON HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mrs J E Hibbert
Mr R C Hibbert
Mrs L J Mair
Company number
09438175
Registered office
Toll Bar Road
Marston
Grantham
Lincolnshire
NG32 2HT
Auditor
Mayfield & Co.
2 Merus Court
Meridian Business Park
Leicester
LE19 1RJ
HARLAXTON HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditor's report
6 - 9
Group statement of comprehensive income
10
Group balance sheet
11
Company balance sheet
12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Notes to the financial statements
16 - 30
HARLAXTON HOLDINGS 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

2024 has been a challenging year for the company. The company continues to remain successful within a competitive market and continues to build on customer relationships and efficient operational delivery of its contracts.

The senior management team continue to focus on reputation and value for money, as well as attracting new colleagues by being a responsible and attractive employer.

Accreditation to ISO9001 and 14001 has been retained, as has all of the LRQA requirements (NERS, GIRS, WIRS and MURS) needed to operate the business; we continue to review business opportunities against accreditation needs so that we remain aligned with client expectation and potential delivery scopes.

The annual turnover has decreased by 21.16% in the year to £18.7m (2023: £23.7m). This has been driven by a shift in deferred income assessments.

Direct costs such as materials and finished goods have decreased by 15.48% which is in line with the drop in recorded turnover. Although material costs continued to rise throughout the year, impacted by global crises and the ability to pass-through these costs onto existing customer contracts. There is a natural lag of enabling pass-through of these costs however these are being better captured and implemented.

Wages and salary costs remain in line with last year as the company continues to focus on acquiring and retaining skilled staff, the company has now commenced with establishing an internal training department and updating their apprenticeship programme ready for the next financial year. Subcontract labour has decreased by 27.18%. This is mainly due to the size of the new developments, the distances required for the offsite works and also the location of these developments. This level of subcontractors is required to efficiently deliver our contracts, on time and to the expectations of our customers. Gross margins have dropped from 32.84% to 28.00% in the year. This reflects a stabilisation of the revenue recognition policy following last year’s change to earlier recognition of profit on contracts. The 5-year rolling average remains stable at approximately 35.19%. The directors feel the margin reflects the efforts of the company to manage costs better and also the completion of a number of key contracts which have seen profits crystallised in the year. The Directors continue to focus business to more specialist connections works and contracts in keeping with the skills and experience of the team.

Administrative expenses have remained consistent in 2024. A drop in pension costs and one-off expenditure to continue with the development of our site at our Head Office have decreased the costs in the year however the repairs at our Head Office have seen an increase in costs up to £582k (2023: £472k).

At the year-end date the balance sheet still reflects the strong trading performance experienced during the year, only having decreased the balance sheet by £371k to show total equity of £8.57m (2023: £8.94m). Whilst the company has excellent cash reserves a large proportion of these are earmarked to be spent on the completion of ongoing projects to crystalise the deferred income retained within current liabilities.

HARLAXTON HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
Principal risks and uncertainties

The directors recognise that the degree of exposure to certain risks will influence how successful the business is. The principal risks recognised by the directors are:

Risks associated with lack of skilled people within the industry continue to remain in place however the Directors have a strategic and developed apprenticeship plan in place which is an investment for the future.

Key performance indicators

Key performance indicators (KPI’s) are set for all departments throughout the business for various activities, and these are reviewed at monthly meetings to ensure compliance along with suggestions for improvement which are discussed at the Senior Management monthly meetings. The principal financial KPI’s of the business are turnover, profitability and net assets. These show the company remains strong, as discussed above and is reflected throughout the financial statements.

Future developments

Since the year-end the company has continued to trade well and the financial performance remains strong. The potential of a recession in the forthcoming months may have an impact on the next financial year if new housing developments begin to decrease due to the cost of living rises and material costs continuing to increase. The directors continue to steer the company through the uncertainties of inflation, cost of living increases including energy prices with a view to ensuring that the business remains well set to face the challenges of tomorrow.

On behalf of the board

Mrs L J Mair
Director
12 February 2025
HARLAXTON HOLDINGS 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 a holding company.

 

The principal activities of the group entities are set out in Note 13.

Directors

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

Mrs J E Hibbert
Mr R C Hibbert
Mrs L J Mair
Results and dividends

The results for the year are set out on page 10.

Ordinary dividends were paid amounting to £176,664. The directors do not recommend payment of a further dividend.

Auditor

The auditor, Mayfield & Co., is deemed to be reappointed under section 487(2) of the Companies Act 2006.

HARLAXTON HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
Statement of disclosure to auditor

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

On behalf of the board
Mrs L J Mair
Director
12 February 2025
HARLAXTON HOLDINGS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MAY 2024
- 5 -

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

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

 

 

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

HARLAXTON HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HARLAXTON HOLDINGS LIMITED
- 6 -
Opinion

We have audited the financial statements of Harlaxton Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

 

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

 

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

Other information

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

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

HARLAXTON HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HARLAXTON HOLDINGS LIMITED
- 7 -
Matters on which we are required to report by exception

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

 

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

Responsibilities of directors

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

Auditor's responsibilities for the audit of the financial statements

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

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

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

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

HARLAXTON HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HARLAXTON HOLDINGS LIMITED
- 8 -

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

 

 

 

 

 

 

 

 

 

 

 

 

 

HARLAXTON HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HARLAXTON HOLDINGS LIMITED
- 9 -

Use of our report

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

Thomas Mayfield BA FCA (Senior Statutory Auditor)
For and on behalf of Mayfield & Co., Statutory Auditor
Chartered Accountants
2 Merus Court
Meridian Business Park
Leicester
LE19 1RJ
12 February 2025
HARLAXTON HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024
- 10 -
2024
2023
Notes
£
£
Turnover
3
18,703,652
23,724,590
Cost of sales
(13,467,127)
(15,933,171)
Gross profit
5,236,525
7,791,419
Administrative expenses
(5,511,889)
(5,036,454)
Operating (loss)/profit
4
(275,364)
2,754,965
Interest receivable and similar income
6
167,474
30,017
Interest payable and similar expenses
7
(1,733)
(366)
(Loss)/profit before taxation
(109,623)
2,784,616
Tax on (loss)/profit
8
(84,976)
(478,698)
(Loss)/profit for the financial year
(194,599)
2,305,918
(Loss)/profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

HARLAXTON HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
10
120,397
160,523
Tangible assets
11
3,328,710
3,210,617
Investments
12
2,500,000
-
0
5,949,107
3,371,140
Current assets
Stocks
14
3,825,581
3,594,241
Debtors
16
6,429,622
4,606,892
Investments
17
1,750,000
3,500,000
Cash at bank and in hand
7,090,772
7,345,492
19,095,975
19,046,625
Creditors: amounts falling due within one year
18
(16,143,200)
(13,204,467)
Net current assets
2,952,775
5,842,158
Total assets less current liabilities
8,901,882
9,213,298
Provisions for liabilities
Deferred tax liability
19
332,275
272,428
(332,275)
(272,428)
Net assets
8,569,607
8,940,870
Capital and reserves
Called up share capital
22
102
102
Profit and loss reserves
8,569,505
8,940,768
Total equity
8,569,607
8,940,870

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 12 February 2025 and are signed on its behalf by:
12 February 2025
Mrs L J Mair
Director
Company registration number 09438175 (England and Wales)
HARLAXTON HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 12 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
3,584,097
3,464,380
Investments
12
475,705
475,705
4,059,802
3,940,085
Current assets
Debtors
16
1,666,408
1,560,167
Cash at bank and in hand
101,738
149,461
1,768,146
1,709,628
Creditors: amounts falling due within one year
18
(662,833)
(663,975)
Net current assets
1,105,313
1,045,653
Total assets less current liabilities
5,165,115
4,985,738
Provisions for liabilities
Deferred tax liability
19
331,879
271,884
(331,879)
(271,884)
Net assets
4,833,236
4,713,854
Capital and reserves
Called up share capital
22
102
102
Profit and loss reserves
4,833,134
4,713,752
Total equity
4,833,236
4,713,854

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £296,046 (2023: £1,748,239 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 12 February 2025 and are signed on its behalf by:
12 February 2025
Mrs L J Mair
Director
Company registration number 09438175 (England and Wales)
HARLAXTON HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2022
102
6,811,450
6,811,552
Year ended 31 May 2023:
Profit and total comprehensive income
-
2,305,918
2,305,918
Dividends
9
-
(176,600)
(176,600)
Balance at 31 May 2023
102
8,940,768
8,940,870
Year ended 31 May 2024:
Loss and total comprehensive income
-
(194,599)
(194,599)
Dividends
9
-
(176,664)
(176,664)
Balance at 31 May 2024
102
8,569,505
8,569,607
HARLAXTON HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 14 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2022
102
3,142,113
3,142,215
Year ended 31 May 2023:
Profit and total comprehensive income for the year
-
1,748,239
1,748,239
Dividends
9
-
(176,600)
(176,600)
Balance at 31 May 2023
102
4,713,752
4,713,854
Year ended 31 May 2024:
Profit and total comprehensive income
-
296,046
296,046
Dividends
9
-
(176,664)
(176,664)
Balance at 31 May 2024
102
4,833,134
4,833,236
HARLAXTON HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024
- 15 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
25
1,868,142
(178,799)
Interest paid
(1,733)
(366)
Income taxes paid
(455,879)
(253,135)
Net cash inflow/(outflow) from operating activities
1,410,530
(432,300)
Investing activities
Purchase of tangible fixed assets
(942,510)
(860,742)
Proceeds from disposal of tangible fixed assets
36,450
49,500
Purchase of investments
-
(1,500,000)
Proceeds from disposal of investments
(750,000)
-
Interest received
167,474
30,017
Net cash used in investing activities
(1,488,586)
(2,281,225)
Financing activities
Dividends paid to equity shareholders
(176,664)
(176,600)
Net cash used in financing activities
(176,664)
(176,600)
Net decrease in cash and cash equivalents
(254,720)
(2,890,125)
Cash and cash equivalents at beginning of year
7,345,492
10,235,617
Cash and cash equivalents at end of year
7,090,772
7,345,492
HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 16 -
1
Accounting policies
Company information

Harlaxton Holdings Limited (“the company”) is a private limited company, limited by shares and incorporated in England and Wales. The registered office is Toll Bar Road, Marston, Grantham, Lincolnshire, NG32 2HT.

 

The group consists of Harlaxton Holdings Limited and all of its subsidiaries.

1.1
Accounting convention

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

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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

 

1.2
Business combinations

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

 

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

HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 17 -
1.3
Basis of consolidation

The consolidated financial statements incorporate those of Harlaxton Holdings Limited and all of its subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits).

 

All financial statements are made up to 31 May 2024.

 

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

1.4
Going concern

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

1.5
Turnover

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

 

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

Revenue from 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 engineering 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 determined by the companies' directors.

1.6
Intangible fixed assets - goodwill

Goodwill arising on the acquisition of subsidiary undertakings, representing the excess of the fair value of the consideration given over the fair value of identifiable assets and liabilities acquired, is capitalised and written off on a straight line basis over its useful economic life, which is 10 years. Provision has been made for any impairment.

1.7
Tangible fixed assets

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

HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 18 -

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 property
Buildings over 50 years
Plant and machinery
20% on cost
Equipment
20% on cost
Software
33% on cost
Motor vehicles
25% on cost

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

1.8
Fixed asset investments

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

 

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

1.9
Impairment of fixed assets

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

 

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

1.10
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.

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.

HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 19 -
1.11
Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

 

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

 

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is determined by the companies directors.

1.12
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.

1.13
Financial instruments

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

 

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

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.

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.

Derecognition of financial assets

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

Classification of financial liabilities

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

HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 20 -
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.

Derecognition of financial liabilities

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

1.14
Equity instruments

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

1.15
Taxation

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

Current tax

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

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.

1.16
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.

1.17
Retirement benefits

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

1.18
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.

HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 21 -
2
Judgements and key sources of estimation uncertainty

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

 

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

3
Turnover and other revenue

An analysis of the group's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Contract sales
12,165,839
18,209,120
Electrical distribution
6,180,008
5,260,720
Soil stabiliser
225,782
184,734
Gas distribution
132,023
70,016
18,703,652
23,724,590
2024
2023
£
£
Other revenue
Interest income
167,474
30,017
4
Operating (loss)/profit
2024
2023
£
£
Operating (loss)/profit for the year is stated after charging/(crediting):
Fees payable to the group's auditor for the audit of the group's financial statements
5,000
7,850
Depreciation of owned tangible fixed assets
823,544
643,530
Profit on disposal of tangible fixed assets
(35,577)
(48,977)
Amortisation of intangible assets
40,126
40,126
HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 22 -
5
Employees

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

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Directors
3
24
3
3
44
44
-
-
37
35
-
-
Total
84
103
3
3

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
3,044,418
3,193,699
-
0
-
0
Social security costs
331,907
368,617
-
-
Pension costs
244,360
249,854
-
0
-
0
3,620,685
3,812,170
-
0
-
0
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
164,233
21,263
Other interest income
3,241
8,754
Total income
167,474
30,017
7
Interest payable and similar expenses
2024
2023
£
£
Other interest
1,733
366
HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 23 -
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
-
0
449,115
Adjustments in respect of prior periods
23,223
(44,883)
Total current tax
23,223
404,232
Deferred tax
Origination and reversal of timing differences
61,753
74,466
Total tax charge
84,976
478,698

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

2024
2023
£
£
(Loss)/profit before taxation
(109,623)
2,784,616
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 20.00%)
(27,406)
556,923
Tax effect of expenses that are not deductible in determining taxable profit
10,026
4,618
Unutilised tax losses carried forward
66,275
647
Adjustments in respect of prior years
23,223
(44,883)
Group relief
(1)
(23,219)
Permanent capital allowances in excess of depreciation
(58,926)
(97,879)
Amortisation on assets not qualifying for tax allowances
10,032
8,025
Provision for deferred tax
61,753
74,466
Taxation charge
84,976
478,698
9
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Final paid
176,664
176,600
HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 24 -
10
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 June 2023 and 31 May 2024
401,279
Amortisation and impairment
At 1 June 2023
240,756
Amortisation charged for the year
40,126
At 31 May 2024
280,882
Carrying amount
At 31 May 2024
120,397
At 31 May 2023
160,523
The company had no intangible fixed assets at 31 May 2024 or 31 May 2023.

More information on impairment movements in the year is given in note .

11
Tangible fixed assets
Group
Freehold property
Plant and machinery
Equipment
Software
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 June 2023
1,924,524
3,662,704
1,185,880
458,446
1,903,420
9,134,974
Additions
-
0
15,800
448,111
137,542
341,057
942,510
Disposals
-
0
(2,285)
-
0
-
0
(71,110)
(73,395)
At 31 May 2024
1,924,524
3,676,219
1,633,991
595,988
2,173,367
10,004,089
Depreciation and impairment
At 1 June 2023
136,432
3,164,634
798,076
289,013
1,536,202
5,924,357
Depreciation charged in the year
19,491
330,020
196,356
83,877
193,800
823,544
Eliminated in respect of disposals
-
0
(1,412)
-
0
-
0
(71,110)
(72,522)
At 31 May 2024
155,923
3,493,242
994,432
372,890
1,658,892
6,675,379
Carrying amount
At 31 May 2024
1,768,601
182,977
639,559
223,098
514,475
3,328,710
At 31 May 2023
1,788,092
498,070
387,804
169,433
367,218
3,210,617
HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
11
Tangible fixed assets
(Continued)
- 25 -
Company
Freehold property
Plant and machinery
Equipment
Software
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 June 2023
1,924,524
1,943,553
466,867
275,602
957,414
5,567,960
Additions
-
0
15,800
448,111
137,542
341,057
942,510
Disposals
-
0
(2,285)
-
0
-
0
(71,110)
(73,395)
At 31 May 2024
1,924,524
1,957,068
914,978
413,144
1,227,361
6,437,075
Depreciation and impairment
At 1 June 2023
136,432
1,155,848
135,333
85,772
590,195
2,103,580
Depreciation charged in the year
19,491
329,921
194,831
83,877
193,800
821,920
Eliminated in respect of disposals
-
0
(1,412)
-
0
-
0
(71,110)
(72,522)
At 31 May 2024
155,923
1,484,357
330,164
169,649
712,885
2,852,978
Carrying amount
At 31 May 2024
1,768,601
472,711
584,814
243,495
514,476
3,584,097
At 31 May 2023
1,788,092
787,705
331,534
189,830
367,219
3,464,380
12
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
475,705
475,705
Unlisted investments
2,500,000
-
0
-
0
-
0
2,500,000
-
0
475,705
475,705
HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
12
Fixed asset investments
(Continued)
- 26 -
Movements in fixed asset investments
Group
Investments
£
Cost or valuation
At 1 June 2023
-
Additions
2,500,000
At 31 May 2024
2,500,000
Carrying amount
At 31 May 2024
2,500,000
At 31 May 2023
-
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 June 2023 and 31 May 2024
475,705
Carrying amount
At 31 May 2024
475,705
At 31 May 2023
475,705
13
Subsidiaries

Details of the company's subsidiaries at 31 May 2024 are as follows:

Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
Harlaton Plant Hire Limited
1
Not trading
Ordinary
100.00
Harlaxton Water Works Limited
2
Not trading
Ordinary
100.00
Harlaxton Construction Limited
2
Not trading
Ordinary
100.00
Harlaxton Energy Networks Limited
1
Electrical distributions
Ordinary
100.00
Harlaxton Engineering Services Limited
1
Engineering services
Ordinary
100.00
Harlaxton Gas Networks Limited
1
Gas distributions
Ordinary
100.00
Perma-Soil UK Limited
1
Soil stabilising distributor
Ordinary
100.00
HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
13
Subsidiaries
(Continued)
- 27 -

Registered office addresses (all UK unless otherwise indicated):

1
Toll Bar Road, Marston, Grantham, Lincolnshire, NG32 2HT
2
2 Merus Court, Meridian Business Park, Leicester, LE19 1RJ
14
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Finished goods and goods for resale
3,825,581
3,594,241
-
0
-
0
15
Construction contracts
Group
Company
2024
2023
2024
2023
£
£
£
£
Contract revenues recognised
Contract costs incurred plus recognised profits less recognised losses to date
12,222,196
18,453,743
-
-

Included in creditors: amounts falling due within one year, is deferred contract income of £13,234,062 (2023: £9,515,092).

16
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
3,934,974
2,625,443
10,125
216,580
Corporation tax recoverable
531,696
266,521
-
0
-
0
Amounts owed by group undertakings
-
-
1,250,044
1,055,044
Other debtors
617,327
531,540
406,239
191,532
Prepayments and accrued income
1,335,773
1,171,630
-
0
97,011
6,419,770
4,595,134
1,666,408
1,560,167
Amounts falling due after more than one year:
Deferred tax asset (note 19)
9,852
11,758
-
0
-
0
Total debtors
6,429,622
4,606,892
1,666,408
1,560,167
HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 28 -
17
Current asset investments
Group
Company
2024
2023
2024
2023
£
£
£
£
Unlisted investments
1,750,000
3,500,000
-
-
18
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Trade creditors
1,565,292
1,949,650
20,263
41,682
Amounts owed to group undertakings
17,311
9,760
445,465
460,902
Corporation tax payable
-
0
167,481
-
0
-
0
Other taxation and social security
197,748
177,700
-
-
Deferred income
20
13,234,062
9,515,092
-
0
-
0
Other creditors
330,766
306,043
186,505
155,341
Accruals and deferred income
798,021
1,078,741
10,600
6,050
16,143,200
13,204,467
662,833
663,975
19
Deferred taxation

Deferred tax assets and liabilities are offset where the group or company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Group
£
£
£
£
Accelerated capital allowances
332,275
272,428
-
-
Tax losses
-
-
-
7,027
Depreciation in excess of capital allowances
-
-
9,852
4,731
332,275
272,428
9,852
11,758
Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Company
£
£
£
£
Accelerated capital allowances
331,879
271,884
-
-
HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
19
Deferred taxation
(Continued)
- 29 -
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 June 2023
260,670
271,884
Charge to profit or loss
61,753
59,995
Liability at 31 May 2024
322,423
331,879

 

20
Deferred income
Group
Company
2024
2023
2024
2023
£
£
£
£
Other deferred income
13,234,062
9,515,092
-
-
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
244,360
249,854

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

22
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
102
102
102
102
23
Financial commitments, guarantees and contingent liabilities

Harlaxton Holdings Limited has 3 Keepwell agreements with Lloyds Bank, two for £14,000 and one for £12,000, which are designed to ensure two of its subsidiary companies, can maintain operational revenue for its connected customer supplies for 6 months. These agreements are on an open ended rolling basis.

HARLAXTON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 30 -
24
Directors' transactions

There is an overdrawn directors' loan account of £135,000 (2023: £135,000). The loan is interest free and repayable on demand.

Dividends totalling £176,664 (2023: £176,600) were paid in the year in respect of shares held by the company's directors.

25
Cash generated from/(absorbed by) group operations
2024
2023
£
£
(Loss)/profit after taxation
(194,599)
2,305,918
Adjustments for:
Taxation charged
84,976
478,698
Finance costs
1,733
366
Investment income
(167,474)
(30,017)
Gain on disposal of tangible fixed assets
(35,577)
(48,977)
Amortisation and impairment of intangible assets
40,126
40,126
Depreciation and impairment of tangible fixed assets
823,544
643,530
Movements in working capital:
Increase in stocks
(231,340)
(1,325,219)
Increase in debtors
(1,559,461)
(322,029)
(Decrease)/increase in creditors
(612,756)
988,997
Increase/(decrease) in deferred income
3,718,970
(2,910,192)
Cash generated from/(absorbed by) operations
1,868,142
(178,799)
26
Analysis of changes in net funds - group
1 June 2023
Cash flows
31 May 2024
£
£
£
Cash at bank and in hand
7,345,492
(254,720)
7,090,772
2024-05-312023-06-01falsefalseCCH SoftwareCCH Accounts Production 2024.310Mrs J E HibbertMr R C HibbertMrs L J Mairfalse09438175bus:Consolidated2023-06-012024-05-31094381752023-06-012024-05-3109438175bus:Director12023-06-012024-05-3109438175bus:Director22023-06-012024-05-3109438175bus:Director32023-06-012024-05-3109438175bus:RegisteredOffice2023-06-012024-05-3109438175bus:Consolidated2024-05-3109438175bus:Consolidated2022-06-012023-05-31094381752022-06-012023-05-31094381752024-05-3109438175core:Goodwillbus:Consolidated2024-05-3109438175core:Goodwillbus:Consolidated2023-05-3109438175bus:Consolidated2023-05-31094381752023-05-3109438175core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2024-05-3109438175core:PlantMachinerybus:Consolidated2024-05-3109438175core:FurnitureFittingsbus:Consolidated2024-05-3109438175core:ComputerEquipmentbus:Consolidated2024-05-3109438175core:MotorVehiclesbus:Consolidated2024-05-3109438175core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-05-3109438175core:PlantMachinerybus:Consolidated2023-05-3109438175core:FurnitureFittingsbus:Consolidated2023-05-3109438175core:ComputerEquipmentbus:Consolidated2023-05-3109438175core:MotorVehiclesbus:Consolidated2023-05-3109438175core:LandBuildingscore:OwnedOrFreeholdAssets2024-05-3109438175core:PlantMachinery2024-05-3109438175core:FurnitureFittings2024-05-3109438175core:ComputerEquipment2024-05-3109438175core:MotorVehicles2024-05-3109438175core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-3109438175core:PlantMachinery2023-05-3109438175core:FurnitureFittings2023-05-3109438175core:ComputerEquipment2023-05-3109438175core:MotorVehicles2023-05-3109438175core:ShareCapitalbus:Consolidated2024-05-3109438175core:ShareCapitalbus:Consolidated2023-05-3109438175core:ShareCapital2024-05-3109438175core:ShareCapital2023-05-3109438175core:RetainedEarningsAccumulatedLosses2024-05-3109438175core:ShareCapitalbus:Consolidated2022-05-31094381752022-05-3109438175core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-05-3109438175core:RetainedEarningsAccumulatedLossesbus:Consolidated2024-05-3109438175core:ShareCapital2022-05-3109438175core:RetainedEarningsAccumulatedLosses2022-05-3109438175core:RetainedEarningsAccumulatedLosses2023-05-3109438175bus:Consolidated2022-05-3109438175core:Goodwill2023-06-012024-05-3109438175core:LandBuildingscore:OwnedOrFreeholdAssets2023-06-012024-05-3109438175core:PlantMachinery2023-06-012024-05-3109438175core:FurnitureFittings2023-06-012024-05-3109438175core:ComputerEquipment2023-06-012024-05-3109438175core:MotorVehicles2023-06-012024-05-3109438175core:UKTaxbus:Consolidated2023-06-012024-05-3109438175core:UKTaxbus:Consolidated2022-06-012023-05-3109438175bus:Consolidated12023-06-012024-05-3109438175bus:Consolidated12022-06-012023-05-3109438175bus:Consolidated22023-06-012024-05-3109438175bus:Consolidated22022-06-012023-05-3109438175core:Goodwillbus:Consolidated2023-05-3109438175core:Goodwillbus:Consolidated2023-06-012024-05-3109438175core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-05-3109438175core:PlantMachinerybus:Consolidated2023-05-3109438175core:FurnitureFittingsbus:Consolidated2023-05-3109438175core:ComputerEquipmentbus:Consolidated2023-05-3109438175core:MotorVehiclesbus:Consolidated2023-05-3109438175bus:Consolidated2023-05-3109438175core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-3109438175core:PlantMachinery2023-05-3109438175core:FurnitureFittings2023-05-3109438175core:ComputerEquipment2023-05-3109438175core:MotorVehicles2023-05-31094381752023-05-3109438175core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-06-012024-05-3109438175core:PlantMachinerybus:Consolidated2023-06-012024-05-3109438175core:FurnitureFittingsbus:Consolidated2023-06-012024-05-3109438175core:ComputerEquipmentbus:Consolidated2023-06-012024-05-3109438175core:MotorVehiclesbus:Consolidated2023-06-012024-05-3109438175core:UnlistedNon-exchangeTradedbus:Consolidated2024-05-3109438175core:UnlistedNon-exchangeTradedbus:Consolidated2023-05-3109438175core:UnlistedNon-exchangeTraded2024-05-3109438175core:UnlistedNon-exchangeTraded2023-05-3109438175core:Subsidiary12023-06-012024-05-3109438175core:Subsidiary22023-06-012024-05-3109438175core:Subsidiary32023-06-012024-05-3109438175core:Subsidiary42023-06-012024-05-3109438175core:Subsidiary52023-06-012024-05-3109438175core:Subsidiary62023-06-012024-05-3109438175core:Subsidiary72023-06-012024-05-310943817512023-06-012024-05-3109438175core:CurrentFinancialInstruments2024-05-3109438175core:CurrentFinancialInstruments2023-05-3109438175core:CurrentFinancialInstrumentsbus:Consolidated2024-05-3109438175core:CurrentFinancialInstrumentsbus:Consolidated2023-05-3109438175core:Non-currentFinancialInstrumentsbus:Consolidated2024-05-3109438175core:Non-currentFinancialInstrumentsbus:Consolidated2023-05-3109438175core:Non-currentFinancialInstruments2024-05-3109438175core:Non-currentFinancialInstruments2023-05-3109438175core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2024-05-3109438175core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-05-3109438175core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3109438175core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3109438175bus:PrivateLimitedCompanyLtd2023-06-012024-05-3109438175bus:FRS1022023-06-012024-05-3109438175bus:Audited2023-06-012024-05-3109438175bus:ConsolidatedGroupCompanyAccounts2023-06-012024-05-3109438175bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP