English (Group) Limited
Annual report and financial statements
For the year ended 31 March 2024
English (Group) Limited
Company information
Directors
Mr D M English
Mrs J H English
Company number
07348411
Registered office
Bowbrook House
Bowbrook
Shrewsbury
Shropshire
SY3 5BS
Auditor
DJH Audit Limited
The Glades
Festival Way
Festival Park
Stoke on Trent
Staffordshire
ST1 5SQ
English (Group) Limited
Contents
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 32
English (Group) Limited
Strategic report
For the year ended 31 March 2024
- 1 -

The Board of Directors of English (Group) Limited presents the strategic report for the financial year ended 31 March 2024. This report outlines our business model, strategy, performance, risks, and future outlook, prepared in alignment with the FRC’s Guidance on Strategic Reports and the Companies Act 2006.

The group operates a 44-bed nursing home with 26 supported living apartments and a 30-bed residential home offering dementia care. Both homes are registered with the Care Quality Commission (CQC) and are proudly rated as “Good.” Our mission is to deliver high-quality, person-centered care while supporting the well-being of our residents, staff, and the local community.

Business Model

Our services focus on three interconnected areas:

  1. Residential and Dementia Care: Providing compassionate and professional care tailored to the needs of our residents.

  2. Supported Living: Enabling residents in supported apartments to live as independently as possible with access to care as needed.

  3. Community Engagement: Strengthening connections with the local community through partnerships and activities that enrich the lives of our residents.

  4. Promoting a positive experienced team: English Care has a great team many of whom have been employed for 15 years or more. The group has also increased its multi cultural base with the employment of staff from abroad to meet the recruitment crisis in the care sector.

 

Our homes consistently maintain an average occupancy rate of 85%, a testament to the quality of care and reputation of our services.

 

Strategic Objectives and Sustainability

  1. Profitability: We aim to achieve a 39% gross profit margin and a 20% net profit margin before tax, ensuring financial resilience and sustainability.

  2. Carbon Footprint Reduction: A sustainability review is underway to identify and implement measures to reduce our environmental impact. This includes evaluating the installation of solar panels and other energy-saving initiatives.

  3. Community Support: Prioritizing partnerships with local businesses and fostering resident interactions with local nurseries, schools, and churches to create a vibrant community environment.

Performance Overview

English (Group) Limited
Strategic report (continued)
For the year ended 31 March 2024
- 2 -
Principal Risks and Challenges
  1. Rising Payroll Costs: Recent budget announcements, including increases in the national minimum wage effective April 2025, will result in a 12% increase in payroll costs. We are actively exploring cost-saving measures to mitigate the impact.

  2. Complex Care Needs: A sector-wide trend of supporting individuals at home longer has resulted in higher complexity among residents admitted to care homes. Reduced council funding for these needs poses a profitability risk, particularly for council-contracted placements.

  3. Regulatory and Policy Changes: Maintaining compliance with evolving regulations while adapting to the financial challenges of reduced government support for care services.

Future Outlook

Our immediate focus is on consolidating the operations of the nursing home to complete its final phase of development, thereby increasing occupancy and sustaining profitability. Long-term plans include expanding sustainable practices, leveraging technology for care delivery, and continuing to engage with the community.

Challenges posed by increasing costs and funding constraints will require careful cost management and exploration of private care contracts to maintain financial stability.

The business’s key performance indicators communicate the financial performance of the home and the strength of the Group:-

 

 

Conclusion

The group remains committed to providing high-quality care and fostering an inclusive, sustainable environment for our residents and staff. The directors express gratitude to all stakeholders for their contributions and looks forward to another year of growth and positive impact.

On behalf of the board

Mr D M English
Director
12 March 2025
English (Group) Limited
Directors' report
For the year ended 31 March 2024
- 3 -

The directors present their annual report and financial statements for the year ended 31 March 2024.

Principal activities

The principal activity of the company continued to be that of a holding company.

 

The principal activity of the group continued to be that of residential and nursing care.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £56,850. 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 D M English
Mrs J H English
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 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.

Strategic report

The group has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group'strue 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 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.

English (Group) Limited
Directors' report (continued)
For the year ended 31 March 2024
- 4 -
Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr D M English
Director
12 March 2025
English (Group) Limited
Independent auditor's report
To the members of English (Group) Limited
- 5 -
Opinion

We have audited the financial statements of English (Group) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 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.

English (Group) Limited
Independent auditor's report (continued)
To the members of English (Group) Limited
- 6 -

Opinions on other matters prescribed by the Companies Act 2006

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

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.

English (Group) Limited
Independent auditor's report (continued)
To the members of English (Group) Limited
- 7 -

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:

 

 

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

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.

 

 

 

 

English (Group) Limited
Independent auditor's report (continued)
To the members of English (Group) Limited
- 8 -

Other matters which we are required to address

In the previous accounting period the directors of the company took advantage of audit exemption under S.477 of the Companies Act 2006. Therefore, the prior period financial statements were not audited and the comparative information presented is unaudited.

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.

Stacey Parr FCCA
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
English (Group) Limited
Group statement of comprehensive income
For the year ended 31 March 2024
- 9 -
2024
2023
Notes
£
£
Turnover
3
4,556,882
4,351,229
Cost of sales
(2,725,214)
(2,419,723)
Gross profit
1,831,668
1,931,506
Administrative expenses
(851,117)
(855,923)
Operating profit
4
980,551
1,075,583
Interest receivable and similar income
8
43,210
9,727
Interest payable and similar expenses
9
(84,482)
(55,892)
Profit before taxation
939,279
1,029,418
Tax on profit
10
(277,041)
(228,468)
Profit for the financial year
662,238
800,950
Other comprehensive income
Tax relating to other comprehensive income
(106,047)
-
0
Total comprehensive income for the year
556,191
800,950
Profit for the financial year is attributable to:
- Owners of the parent company
622,238
760,950
- Non-controlling interests
40,000
40,000
662,238
800,950
Total comprehensive income for the year is attributable to:
- Owners of the parent company
516,191
760,950
- Non-controlling interests
40,000
40,000
556,191
800,950
English (Group) Limited
Group balance sheet
As at 31 March 2024
31 March 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
13
5,289,513
5,108,531
Current assets
Stocks
16
1,500
1,500
Debtors
17
271,354
220,092
Cash at bank and in hand
1,650,515
1,328,266
1,923,369
1,549,858
Creditors: amounts falling due within one year
18
(1,004,490)
(887,631)
Net current assets
918,879
662,227
Total assets less current liabilities
6,208,392
5,770,758
Creditors: amounts falling due after more than one year
19
(1,087,673)
(1,221,428)
Provisions for liabilities
Deferred tax liability
21
519,663
407,615
(519,663)
(407,615)
Net assets
4,601,056
4,141,715
Capital and reserves
Called up share capital
23
2,029
2,029
Revaluation reserve
24
1,325,747
1,431,794
Profit and loss reserves
3,273,250
2,707,862
Equity attributable to owners of the parent company
4,601,026
4,141,685
Non-controlling interests
30
30
4,601,056
4,141,715

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 March 2025 and are signed on its behalf by:
12 March 2025
Mr D M English
Mrs J H English
Director
Director
Company registration number 07348411 (England and Wales)
English (Group) Limited
Company balance sheet
As at 31 March 2024
31 March 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
14
176
172
Current assets
Debtors
17
1,595,000
1,595,188
Cash at bank and in hand
4,751
4,706
1,599,751
1,599,894
Creditors: amounts falling due within one year
18
(302,702)
(234,268)
Net current assets
1,297,049
1,365,626
Net assets
1,297,225
1,365,798
Capital and reserves
Called up share capital
23
2,029
2,029
Profit and loss reserves
1,295,196
1,363,769
Total equity
1,297,225
1,365,798

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £11,723 (2023 - £398,887 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 March 2025 and are signed on its behalf by:
12 March 2025
Mr D M English
Mrs J H English
Director
Director
Company registration number 07348411 (England and Wales)
English (Group) Limited
Group statement of changes in equity
For the year ended 31 March 2024
- 12 -
Share capital
Revaluation reserve
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
Balance at 1 April 2022
2,029
1,431,794
1,989,712
3,423,535
30
3,423,565
Year ended 31 March 2023:
Profit and total comprehensive income
-
-
760,950
760,950
40,000
800,950
Dividends
11
-
-
(42,800)
(42,800)
(40,000)
(82,800)
Balance at 31 March 2023
2,029
1,431,794
2,707,862
4,141,685
30
4,141,715
Year ended 31 March 2024:
Profit for the year
-
-
622,238
622,238
40,000
662,238
Other comprehensive income:
Tax relating to other comprehensive income
-
(106,047)
-
0
(106,047)
-
(106,047)
Total comprehensive income
-
(106,047)
622,238
516,191
40,000
556,191
Dividends
11
-
-
(56,850)
(56,850)
(40,000)
(96,850)
Balance at 31 March 2024
2,029
1,325,747
3,273,250
4,601,026
30
4,601,056
English (Group) Limited
Company statement of changes in equity
For the year ended 31 March 2024
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2022
2,029
1,007,681
1,009,710
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
398,888
398,888
Dividends
11
-
(42,800)
(42,800)
Balance at 31 March 2023
2,029
1,363,769
1,365,798
Year ended 31 March 2024:
Profit and total comprehensive income
-
(11,723)
(11,723)
Dividends
11
-
(56,850)
(56,850)
Balance at 31 March 2024
2,029
1,295,196
1,297,225
English (Group) Limited
Group statement of cash flows
For the year ended 31 March 2024
- 14 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
992,124
1,310,075
Interest paid
(84,482)
(55,892)
Income taxes paid
(204,344)
(208,305)
Net cash inflow from operating activities
703,298
1,045,878
Investing activities
Purchase of tangible fixed assets
(245,897)
(424,704)
Proceeds from disposal of tangible fixed assets
35,000
-
Interest received
43,210
9,727
Net cash used in investing activities
(167,687)
(414,977)
Financing activities
Repayment of bank loans
(116,512)
(116,511)
Dividends paid to equity shareholders
(56,850)
(42,800)
Dividends paid to non-controlling interests
(40,000)
(40,000)
Net cash used in financing activities
(213,362)
(199,311)
Net increase in cash and cash equivalents
322,249
431,590
Cash and cash equivalents at beginning of year
1,328,266
896,676
Cash and cash equivalents at end of year
1,650,515
1,328,266
English (Group) Limited
Notes to the group financial statements
For the year ended 31 March 2024
- 15 -
1
Accounting policies
Company information

English (Group) Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Bowbrook House, Bowbrook, Shrewsbury, Shropshire, SY3 5BS.

 

The group consists of English (Group) 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, modified to include the revaluation of freehold properties. 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.

English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
- 16 -
1.3
Basis of consolidation

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

 

All financial statements are made up to 31 March 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

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

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

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the 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.

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

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
- 17 -
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.

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
2% straight line
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
Motor vehicles
25% reducing balance

Freehold land is not depreciated.

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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

 

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

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 are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

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

1.9
Impairment of fixed assets

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

 

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

English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
- 18 -

Recoverable amount is the higher of fair value less costs to sell and value in use.

 

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.

1.10
Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

1.11
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.12
Financial instruments

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

 

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

 

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

Basic financial assets

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

Other financial assets

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

English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
- 19 -
Impairment of financial assets

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

 

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

 

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

Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and 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.

 

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.

Derecognition of financial liabilities

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

1.13
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.

English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
- 20 -
1.14
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.

 

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.

1.15
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.

1.16
Retirement benefits

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

1.17
Leases

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

English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
- 21 -
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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

In the directors' opinion there are no critical judgements and estimates which impact the financial statements.

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.

Valuation of Freehold land and buildings

Freehold land and buildings are measured using the revaluation model and as such this requires significant estimation. The valuation of freehold land and buildings has been based on a formal valuation completed by property experts on 27th December 2024. The directors have considered changes in the valuation of freehold land and buildings since the year end, they do not consider there to be any material changes.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Care
4,556,882
4,344,259
Construction
-
6,970
4,556,882
4,351,229
2024
2023
£
£
Other revenue
Interest income
43,210
9,727
English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
- 22 -
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
129,558
129,963
(Profit)/loss on disposal of tangible fixed assets
(7,327)
2,155
Operating lease charges
70,000
70,000
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 group and company
4,500
-
Audit of the financial statements of the company's subsidiaries
17,000
-
21,500
-
For services in respect of associated pension schemes
All other non-audit services
10,400
-
6
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
Cost of sale
83
98
-
-
Administration
6
3
-
-
Director
2
2
-
-
Total
91
103
-
0
-
0
English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
6
Employees
(Continued)
- 23 -

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
2,042,302
1,686,560
-
0
-
0
Social security costs
170,113
151,852
-
-
Pension costs
278,486
194,291
-
0
-
0
2,490,901
2,032,703
-
0
-
0
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
31,089
32,259
Company pension contributions to defined contribution schemes
240,000
160,000
271,089
192,259
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
43,210
9,727
9
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
84,482
55,892
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
276,207
209,511
Adjustments in respect of prior periods
(5,167)
-
0
Total current tax
271,040
209,511
English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
10
Taxation
2024
2023
£
£
(Continued)
- 24 -
Deferred tax
Origination and reversal of timing differences
6,001
18,957
Total tax charge
277,041
228,468

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
939,279
1,029,418
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
234,820
195,589
Tax effect of expenses that are not deductible in determining taxable profit
1,539
20,219
Tax effect of income not taxable in determining taxable profit
14,747
-
0
Tax effect of utilisation of tax losses not previously recognised
-
0
(5,181)
Unutilised tax losses carried forward
-
0
213
Effect of change in corporation tax rate
23,767
-
Group relief
(1,475)
-
0
Amortisation on assets not qualifying for tax allowances
-
0
1,769
Under/(over) provided in prior years
(5,167)
7,645
Deferred tax adjustments in respect of prior years
8,771
(6,572)
39
14,786
Taxation charge
277,041
228,468

In addition to the amount charged to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:

2024
2023
£
£
Deferred tax arising on:
Revaluation of property
106,047
-
English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
- 25 -
11
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Interim paid
56,850
42,800
12
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
233,018
Amortisation and impairment
At 1 April 2023 and 31 March 2024
233,018
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
The company had no intangible fixed assets at 31 March 2024 or 31 March 2023.
English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
- 26 -
13
Tangible fixed assets
Group
Freehold land and buildings
Assets under construction
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Land
Total
£
£
£
£
£
£
£
£
Cost
At 1 April 2023
4,772,434
85,117
313,490
45,817
20,734
266,289
151,277
5,655,158
Additions
-
0
181,275
5,589
-
0
3,752
55,281
-
0
245,897
Disposals
-
0
-
0
-
0
-
0
-
0
(49,644)
-
0
(49,644)
Revaluation
-
0
92,316
-
0
-
0
-
0
-
0
-
0
92,316
At 31 March 2024
4,772,434
358,708
319,079
45,817
24,486
271,926
151,277
5,943,727
Depreciation and impairment
At 1 April 2023
115,553
-
0
274,947
39,063
17,844
99,220
-
0
546,627
Depreciation charged in the year
66,507
-
0
11,033
1,689
1,660
48,669
-
0
129,558
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
-
0
(21,971)
-
0
(21,971)
At 31 March 2024
182,060
-
0
285,980
40,752
19,504
125,918
-
0
654,214
Carrying amount
At 31 March 2024
4,590,374
358,708
33,099
5,065
4,982
146,008
151,277
5,289,513
At 31 March 2023
4,656,881
85,117
38,543
6,754
2,890
167,069
151,277
5,108,531
The company had no tangible fixed assets at 31 March 2024 or 31 March 2023.
English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
13
Tangible fixed assets
(Continued)
- 27 -

The freehold property has been valued on 27th December 2024. The valuation was carried out by Jon Hodgkins MRICS & Andy Topham MRICS of Christie & Co, an external company regulated by RICS.

 

The basis for the valuation has paid principal regard to the value of the bricks and motor.

 

The bases of the value are as defined by The Royal Institution of Chartered Surveyors (RICS) Valuation.

 

The directors have considered changes in the valuation of freehold land and buildings since the year end, they do not consider there to be any material changes.

 

 

14
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
15
-
0
-
0
176
172
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 April 2023
172
Additions
4
At 31 March 2024
176
Carrying amount
At 31 March 2024
176
At 31 March 2023
172
English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
- 28 -
15
Subsidiaries

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

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
English Care Limited
Bowbrook House, Bowbrook, Shrewsbury, SY3 5BS
ordinary shares
100.00
English Developers Limited
Bowbrook House, Bowbrook, Shrewsbury, Shropshire, SY3 5BS
ordinary shares
85.00
Lady Forester Care Home Limited
71-75 Shelton Street, Covent Garden, London, WC2H 9JQ
ordinary shares
100.00
Bowbrook Care Home Limited
71-75 Shelton Street, Covent Garden, London, WC2H 9JQ
ordinary shares
100.00

*** English Developers Limited (Company no 04518544) and Bowbrook Care Home Limited (Company no 15604573) are exempt from audit by virtue of section 479A of the Companies Act 2006.v

16
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Consumables
1,500
1,500
-
-
17
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
189,309
191,464
-
0
-
0
Amounts owed by group undertakings
-
-
1,595,000
1,595,000
Other debtors
60,327
28,440
-
0
-
0
Prepayments and accrued income
21,718
188
-
0
188
271,354
220,092
1,595,000
1,595,188
English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
- 29 -
18
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
20
116,512
116,512
-
0
-
0
Trade creditors
89,634
63,124
-
0
-
0
Corporation tax payable
276,207
209,511
-
0
-
0
Other taxation and social security
41,072
32,198
-
-
Other creditors
430,687
454,420
290,000
233,146
Accruals and deferred income
50,378
11,866
12,702
1,122
1,004,490
887,631
302,702
234,268
19
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
20
873,138
989,650
-
0
-
0
Other creditors
214,535
231,778
-
0
-
0
1,087,673
1,221,428
-
-
Amounts included above which fall due after five years are as follows:
Payable by instalments
532,092
598,604
-
-
20
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
989,650
1,106,162
-
0
-
0
Payable within one year
116,512
116,512
-
0
-
0
Payable after one year
873,138
989,650
-
0
-
0

The long-term loans are secured by fixed and floating charges over the assets of the company.

 

Long term bank debts are in the form of a secured loans which are quarterly repayments (capital and interest) with Santander Bank. The first loan is set to mature in Jan 2027 at a fixed interest rate of 3.15% plus the base rate per annum and the second loan is set to mature in June 2027 at a fixed interest rate of 3.5% plus base rate per annum.

 

English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
- 30 -
21
Deferred taxation

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

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
27,450
-
Revaluations
492,753
407,615
Retirement benefit obligations
(540)
-
519,663
407,615
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 April 2023
407,615
-
Charge to profit or loss
6,001
-
Charge to other comprehensive income
106,047
-
Liability at 31 March 2024
519,663
-
22
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
277,900
194,291

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.

 

At the period end the creditor was £5,076 (2023 - £1,374).

English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
- 31 -
23
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2,004
2,004
2,004
2,004
Ordinary A of £1 each
5
5
5
5
Ordinary B of £1 each
5
5
5
5
Ordinary C of £1 each
5
5
5
5
Ordinary D of £1 each
5
5
5
5
Ordinary E of £1 each
5
5
5
5
2,029
2,029
2,029
2,029
24
Revaluation reserve

Revaluation reserve is made up of revaluation uplifts on freehold property less any transfers of excess depreciation on revaluations from the profit and loss account and any movements in deferred taxation on the revaluation of freehold property.

25
Cash generated from group operations
2024
2023
£
£
Profit for the year after tax
662,238
800,950
Adjustments for:
Taxation charged
277,041
228,468
Finance costs
84,482
55,892
Investment income
(43,210)
(9,727)
(Gain)/loss on disposal of tangible fixed assets
(7,327)
2,155
Depreciation and impairment of tangible fixed assets
37,242
184,846
Movements in working capital:
(Increase)/decrease in debtors
(51,262)
5,103
Increase in creditors
32,920
42,388
Cash generated from operations
992,124
1,310,075
English (Group) Limited
Notes to the group financial statements (continued)
For the year ended 31 March 2024
- 32 -
26
Analysis of changes in net funds - group
1 April 2023
Cash flows
31 March 2024
£
£
£
Cash at bank and in hand
1,328,266
322,249
1,650,515
Borrowings excluding overdrafts
(1,106,162)
116,512
(989,650)
222,104
438,761
660,865
2024-03-312023-04-01falseCCH SoftwareCCH Accounts Production 2024.200Mr D M EnglishMrs J H 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