Company registration number 12873365 (England and Wales)
Elite Landscapes Holdings Limited
Annual report and financial statements
For the year ended 30 June 2024
Elite Landscapes Holdings Limited
Company information
Directors
Mr L J Upcott
Mr M Murphy
Mr D A Twist
Company number
12873365
Registered office
Wildmoor Lane
Bromsgrove
Worcestershire
B61 0RH
Auditor
DJH Audit Limited
The Glades
Festival Way
Festival Park
Stoke-on-Trent
Staffordshire
ST1 5SQ
Elite Landscapes Holdings Limited
Contents
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Notes to the financial statements
10 - 16
Elite Landscapes Holdings Limited
Strategic report
For the year ended 30 June 2024
- 1 -
The directors present the strategic report for the year ended 30 June 2024.
Review of the business
The company continued to operate as a holding company in the year and as such there has been no turnover in the current or prior period.
The company's sole source of income is from dividends. Total dividend income for the year totalled £602,237 (2023 - £1,057,640).
Profit after taxation reduced from £904,182 in the prior period to £493,290 in 2024, mainly as a result of a reduction in dividends received.
At the balance sheet date, net assets totalled £5,283,007 (2023 - £4,789,717).
Principal risks and uncertainties
Due to the nature of the company being a holding company, it does not have any principal risks or uncertainties.
The company could be affected however if its subsidiary company trade is impacted for any given reason.
The subsidiary company continues to trade well and is looking to have steady growth in both sales and profitability in the coming year.
Financial instrument risk
The only financial instruments that the company has are amounts owed to group undertakings. The company does not have a bank account.
Future Developments
Overall profitability in future periods should be similar to the current period and hence the directors are confident that the going concern basis is appropriate for the preparation of the accounts.
Key performance indicators
The directors consider that the key performance indicators are net profit after tax.
Net profit after tax for the year totalled £493,290 (2023 - £904,182).
Mr L J Upcott
Director
12 March 2025
Elite Landscapes Holdings Limited
Directors' report
For the year ended 30 June 2024
- 2 -
The directors present their annual report and financial statements for the year ended 30 June 2024.
Principal activities
The principal activity of the company continued to be that of a holding company.
Results and dividends
The results for the year are set out on page 7.
No ordinary dividends were paid. The directors do not recommend payment of a final 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 L J Upcott
Mr M Murphy
Mr D A Twist
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;
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.
Strategic report
The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.
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.
Medium-sized companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
Elite Landscapes Holdings Limited
Directors' report (continued)
For the year ended 30 June 2024
- 3 -
On behalf of the board
Mr L J Upcott
Director
12 March 2025
Elite Landscapes Holdings Limited
Independent auditor's report
To the members of Elite Landscapes Holdings Limited
- 4 -
Opinion
We have audited the financial statements of Elite Landscapes Holdings Limited (the 'company') for the year ended 30 June 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity 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 30 June 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.
Elite Landscapes Holdings Limited
Independent auditor's report (continued)
To the members of Elite Landscapes Holdings Limited
- 5 -
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.
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.
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;
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 legislation such as the Companies Act 2006, taxation legislation and data protection.
Elite Landscapes Holdings Limited
Independent auditor's report (continued)
To the members of Elite Landscapes Holdings Limited
- 6 -
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; and
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 posted during the period and at the period end to identify unusual transactions; and
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:
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.
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.
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.
Nicola Johnson
Senior Statutory Auditor
For and on behalf of DJH Audit Limited
19 March 2025
Accountants
Statutory Auditor
The Glades
Festival Way
Festival Park
Stoke-on-Trent
Staffordshire
ST1 5SQ
Elite Landscapes Holdings Limited
Statement of comprehensive income
For the year ended 30 June 2024
- 7 -
2024
2023
Notes
£
£
Turnover
-
-
Administrative expenses
(8,200)
(7,100)
Operating loss
3
(8,200)
(7,100)
Interest receivable and similar income
5
602,237
1,057,640
Interest payable and similar expenses
6
(100,747)
(146,358)
Profit before taxation
493,290
904,182
Tax on profit
7
Profit for the financial year
493,290
904,182
Elite Landscapes Holdings Limited
Balance sheet
As at 30 June 2024
30 June 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
8
7,997,520
8,160,510
Current assets
-
-
Creditors: amounts falling due within one year
10
(1,460,531)
(740,734)
Net current liabilities
(1,460,531)
(740,734)
Total assets less current liabilities
6,536,989
7,419,776
Creditors: amounts falling due after more than one year
11
(1,253,982)
(2,630,059)
Net assets
5,283,007
4,789,717
Capital and reserves
Called up share capital
12
500,000
500,000
Share premium account
13
200,000
200,000
Profit and loss reserves
14
4,583,007
4,089,717
Total equity
5,283,007
4,789,717
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 March 2025 and are signed on its behalf by:
Mr L J Upcott
Director
Company registration number 12873365 (England and Wales)
Elite Landscapes Holdings Limited
Statement of changes in equity
For the year ended 30 June 2024
- 9 -
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 July 2022
500,000
200,000
3,185,535
3,885,535
Year ended 30 June 2023:
Profit and total comprehensive income
-
-
904,182
904,182
Balance at 30 June 2023
500,000
200,000
4,089,717
4,789,717
Year ended 30 June 2024:
Profit and total comprehensive income
-
-
493,290
493,290
Balance at 30 June 2024
500,000
200,000
4,583,007
5,283,007
Elite Landscapes Holdings Limited
Notes to the financial statements
For the year ended 30 June 2024
- 10 -
1
Accounting policies
Company information
Elite Landscapes Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wildmoor Lane, Bromsgrove, Worcestershire, B61 0RH.
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.
This 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:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments';
Section 33 'Related Party Disclosures': Compensation for key management personnel.
The financial statements contain information about Elite Landscapes Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Whiting Holdings Limited, Whiting Landscape, Wildmoor Lane, Wildmoor, Bromsgrove, United Kingdom, B61 0RH.
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
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Elite Landscapes Holdings Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
- 11 -
1.4
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 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.
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.
Elite Landscapes Holdings Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
- 12 -
Basic financial liabilities
Basic financial liabilities, including loans from fellow group companies, 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.
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.
1.5
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.
1.6
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group entities where the relationship is one of being wholly owned.
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.
Elite Landscapes Holdings Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 13 -
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:
Estimated cost of fixed asset investments and contingent consideration:
A fixed asset investment has been recognised for an acquisition made during the financial year ended 30 June 2021. The consideration payable on this acquisition includes an element of deferred consideration contingent on future results. Management estimated the value of the contingent consideration based on future forecasts of the acquired company and discounted the future estimated cashflows using an estimated market rate of interest for a similar size liability. Uncertainties in these estimates relate to both the actual future performance of the company that has been acquired and the actual equivalent market interest rates that would be available to the company for a similar liability of this nature and size.
Future forecasts of the acquired company have been revised during the current year which has had the effect of decreasing the estimated value of contingent consideration. As a result, total investments and deferred contingent consideration have both decreased by £162,990 compared to the prior period.
3
Operating loss
2024
2023
Operating loss for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
4,900
4,200
4
Employees
The average monthly number of persons (including directors) employed by the company during the year was Nil (2023 - Nil).
5
Interest receivable and similar income
2024
2023
£
£
Income from fixed asset investments
Income from shares in group undertakings
602,237
1,057,640
6
Interest payable and similar expenses
2024
2023
£
£
Other interest
100,747
146,358
7
Taxation
Elite Landscapes Holdings Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
7
Taxation
(Continued)
- 14 -
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
493,290
904,182
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
123,323
226,046
Tax effect of income not taxable in determining taxable profit
(150,560)
(264,411)
Group relief
27,237
38,365
Taxation charge for the year
-
-
8
Fixed asset investments
2024
2023
Notes
£
£
Investments in subsidiaries
9
7,997,520
8,160,510
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 July 2023
8,160,510
Contingent consideration adjustment
(162,990)
At 30 June 2024
7,997,520
Carrying amount
At 30 June 2024
7,997,520
At 30 June 2023
8,160,510
9
Subsidiaries
Details of the company's subsidiaries at 30 June 2024 are as follows:
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Elite Landscapes Limited
Unit F7 The Priory, Stomp Road, Burnham, Buckinghamshire, England, SL1 7LW
Landscaping contractors
Ordinary
100.00
Elite Landscapes Holdings Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
- 15 -
10
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
56,638
48,588
Other creditors
1,396,993
685,396
Accruals and deferred income
6,900
6,750
1,460,531
740,734
11
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,253,982
2,630,059
12
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
300,000
300,000
300,000
300,000
Ordinary B of £1 each
200,000
200,000
200,000
200,000
500,000
500,000
500,000
500,000
Both Ordinary A and B shares carry full voting rights, full dividend rights and the right to participate in distributions and are non-redeemable.
Ordinary A shares also carry the right to appoint and maintain in office two natural persons as directors of the company, to remove any director so appointed and upon their removal, appoint another director in their place.
13
Share premium account
Share premium is made up of receipts in excess of the par value of new share capital issued. This is a non-distributable reserve.
14
Profit and loss reserves
Profit and loss reserves represents the accumulated profits less accumulated losses and distributions up to the reporting date. This is a distributable reserve.
Elite Landscapes Holdings Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
- 16 -
15
Related party transactions
Amounts due to directors and shareholders
At the balance sheet date, included in other creditors were amounts due to directors and shareholders of the business totalling £2,650,975 (2023 - £3,315,455).
No interest is payable on these balances and the amounts due are unsecured.
Transactions with other related parties
At the year end, the company owed £41,488 (2023 - £48,588) to its ultimate parent company.
16
Ultimate controlling party
The ultimate parent company is Whiting Holdings Limited which owns 60% of the ordinary share capital. Whiting Holdings Limited is incorporated in England.
Copies of the group accounts of Whiting Holdings Limited are available from Whiting Landscape, Wildmoor Lane, Wildmoor, Bromsgrove, United Kingdom, B61 0RH.
There is no ultimate controlling party.
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