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REGISTERED NUMBER: 03242687 (England and Wales)















Group Strategic Report, Directors' Report and

Consolidated Financial Statements for the Year Ended 30 June 2024

for

Liberty Group Holdings Limited

Liberty Group Holdings Limited (Registered number: 03242687)

Contents of the Consolidated Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Group Strategic Report 2

Directors' Report 4

Statement of Directors' Responsibilities 6

Report of the Independent Auditors 7

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


Liberty Group Holdings Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr Gordon Jones
Mr Lee Ferraby



REGISTERED OFFICE: Queen Street Chambers
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BUSINESS ADDRESS: The Old Airfield
Belton Road
Sandtoft
South Yorkshire
DN8 5SX



REGISTERED NUMBER: 03242687 (England and Wales)



INDEPENDENT AUDITORS: Landin Wilcock & Co
Statutory Auditor
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Handelsbanken
7th Floor
3 St Pauls Place
129 Norfolk Street
Sheffield
South Yorkshire
S1 2JE

Liberty Group Holdings Limited (Registered number: 03242687)

Group Strategic Report
for the Year Ended 30 June 2024


The directors present their strategic report of the company and the group for the year ended 30 June 2024.

REVIEW OF BUSINESS


During the year the group continued to manufacture, sell and hire out modular, portable buildings an accommodation
During the year the group continued to manufacture, sell and hire out modular, portable buildings and site accommodation units.

Hire activities were conducted by Liberty Guard (UK) Ltd and Pasuda (Hire) Ltd throughout the year however, on 30th June 2024, the hire fleet assets held by Pasuda (Hire) Ltd were transferred to Liberty Guard. With effect from 1st July 2024, the group’s hire activities all fell under Liberty Guard (UK) Ltd. This change resulted from the end of a long-term lease in respect of land adjoining the group’s Sheffield site, and the decision to transfer activities to the group’s principal site at Sandtoft and streamline the group structure. This also brought around changes to the management structure of the group which incurred exceptional costs in the year.

Looking ahead into 2025, the group will be increasing investment in the hire fleet and continuing to grow hire revenues whilst adding to the service department to support this growth.

Cost increases, such as the government’s decisions on National Insurance, have been factored in to forecasts however, the planned growth should allow the group to absorb those costs where necessary whilst improving results.

The hospitality sector enjoyed a more positive year however, it remains extremely challenging. The group continues to improve the venues however, the costs challenges are significant. In 2025, increased employment costs and reductions in business rates relief announced in the government’s budget will add further strain to the sector. The group is fortunate that it is in a position to take these challenges on, although margins will become even tighter and profits will become even more difficult to achieve.


Liberty Group Holdings Limited (Registered number: 03242687)

Group Strategic Report
for the Year Ended 30 June 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Significant competition

The group operates in an industry where there are a number of major competitors. The group responds to this risk by ensuring it has a modern versatile fleet available that is competitively priced and may be tailored to enable it to meet individual customer requirements.

External influences

A downturn in the construction industry or a decline in the requirement for hiring the group's products may result in a reduction in the prices that the group can charge for its services. The group responds to this by monitoring and assessing market capacity and looking at adapting to any changes by diversifying its supply both geographically and also across different markets.

Human resources

The group has a requirement for ensuring that its staff and the service they provide are of a high quality. The group responds to this by ensuring that all staff receive competitive remuneration packages and that all key personnel are aware of the group's commitment to providing a quality product backed up with quality service.

Changes in prices of products and fuel

The group purchases products from a number of suppliers. Many of these product prices are affected by market conditions and to a certain extent the policies of the European Union. Movements in the price levels can have a corresponding impact on the group's gross profit margins. The group, and in particular, its transportation arm, may also be affected by the fluctuations in fuel prices. The group responds to this by reviewing the competitive conditions and pricing methods employed in the markets in which the group operates and its ability to pass through these price increases is determined by the results of the review.

KEY FINANCIAL AND OTHER PERFORMANCE INDICATORS

Unit 2024 2023

Turnover £ 16,370,449 17,342,902
Turnover growth % (6) (15)
Gross profit margin % 53 52
Profit before tax £ 2,486,361 2,783,478



The group considers its main non-financial KPI's to be the number of units that are subject to customer hire contracts and the increasing availability of quality products for hire.

The groups hire performance and related customer demands are monitored weekly and resources employed accordingly.

ON BEHALF OF THE BOARD:





Mr Gordon Jones - Director


21 March 2025

Liberty Group Holdings Limited (Registered number: 03242687)

Directors' Report
for the Year Ended 30 June 2024


The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the manufacture, sale and hire of site cabins and related equipment.

DIVIDENDS
An interim dividend of 5.128p per share was paid on 4 April 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 June 2024 will be £ 20,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Mr Gordon Jones
Mr Lee Ferraby

Other changes in directors holding office are as follows:

Mr John Bamford - resigned 21 June 2024

FINANCIAL INSTRUMENTS
Objectives and policies

The group uses financial instruments other than derivatives comprising cash and bank balances, other liquid resources and various other items such as trade debtors and trade creditors that arise directly from its operations. the main purpose of these financial instruments is to finance the group's operations.

Price risk, credit risk, liquidity risk and cash flow risk

In respect of cash and bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of loans and overdrafts at fixed and floating rates of interest.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debts.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Liberty Group Holdings Limited (Registered number: 03242687)

Directors' Report
for the Year Ended 30 June 2024


AUDITORS
The auditors, Landin Wilcock & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr Gordon Jones - Director


21 March 2025

Liberty Group Holdings Limited (Registered number: 03242687)

Statement of Directors' Responsibilities
for the Year Ended 30 June 2024


The directors are responsible for preparing the Group Strategic Report, the Directors' 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

Report of the Independent Auditors to the Members of
Liberty Group Holdings Limited


Opinion
We have audited the financial statements of Liberty Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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

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

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

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

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report, the Directors' Report and the Statement of Directors' Responsibilities, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Liberty Group Holdings Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

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

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

- minimal reliance was placed upon the operating effectiveness of internal controls in the design and performance of our substantive procedures;
- discussions were held with management considering known or suspected non-compliance with laws, regulations and fraud;
- journal entries were reviewed for any entries made outside the ordinary reporting process with particular emphasis on those with unusual account combinations, entries crediting revenue and those without specific descriptions;
- management assumptions in their significant accounting estimates were challenged and scrutinised.

There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Liberty Group Holdings Limited


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




Tom Henshaw (Senior Statutory Auditor)
for and on behalf of Landin Wilcock & Co
Statutory Auditor
68 Queen Street
Sheffield
South Yorkshire
S1 1WR

21 March 2025

Liberty Group Holdings Limited (Registered number: 03242687)

Consolidated
Income Statement
for the Year Ended 30 June 2024

30/6/24 30/6/23
Notes £    £   

TURNOVER 4 16,370,449 17,342,902

Cost of sales (7,723,871 ) (8,405,452 )
GROSS PROFIT 8,646,578 8,937,450

Administrative expenses (6,178,239 ) (5,989,270 )
2,468,339 2,948,180

Other operating income 26,439 27,191
OPERATING PROFIT 6 2,494,778 2,975,371

Interest receivable and similar income 18,776 3,089
2,513,554 2,978,460

Interest payable and similar expenses 7 (27,193 ) (194,982 )
PROFIT BEFORE TAXATION 2,486,361 2,783,478

Tax on profit 8 (663,886 ) (953,840 )
PROFIT FOR THE FINANCIAL YEAR 1,822,475 1,829,638
Profit attributable to:
Owners of the parent 1,822,475 1,829,638

Liberty Group Holdings Limited (Registered number: 03242687)

Consolidated
Other Comprehensive Income
for the Year Ended 30 June 2024

30/6/24 30/6/23
Notes £    £   

PROFIT FOR THE YEAR 1,822,475 1,829,638


OTHER COMPREHENSIVE INCOME
Movement on hire fleet revaluation 258,615 267,378
Income tax relating to other
comprehensive income

176,669

177,769
OTHER COMPREHENSIVE INCOME FOR THE
YEAR, NET OF INCOME TAX

435,284

445,147
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

2,257,759

2,274,785

Total comprehensive income attributable to:
Owners of the parent 2,257,759 2,274,785

Liberty Group Holdings Limited (Registered number: 03242687)

Consolidated Balance Sheet
30 June 2024

30/6/24 30/6/23
Notes £    £   
FIXED ASSETS
Intangible assets 11 124,368 158,847
Tangible assets 12 25,014,829 23,845,521
Investments 13 - -
25,139,197 24,004,368

CURRENT ASSETS
Stocks 14 841,319 851,046
Debtors 15 3,984,029 3,671,280
Cash at bank and in hand 604,589 882,931
5,429,937 5,405,257
CREDITORS
Amounts falling due within one year 16 (2,869,500 ) (4,062,279 )
NET CURRENT ASSETS 2,560,437 1,342,978
TOTAL ASSETS LESS CURRENT LIABILITIES 27,699,634 25,347,346

CREDITORS
Amounts falling due after more than one
year

17

-

(143,411

)

PROVISIONS FOR LIABILITIES 21 (2,285,083 ) (2,027,143 )
NET ASSETS 25,414,551 23,176,792

CAPITAL AND RESERVES
Called up share capital 22 390,002 390,002
Revaluation reserve 23 4,368,012 4,548,764
Retained earnings 23 20,656,537 18,238,026
SHAREHOLDERS' FUNDS 25,414,551 23,176,792

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





Mr Gordon Jones - Director


Liberty Group Holdings Limited (Registered number: 03242687)

Company Balance Sheet
30 June 2024

30/6/24 30/6/23
Notes £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 2,062,665 2,189,114
Investments 13 385,201 385,201
2,447,866 2,574,315

CURRENT ASSETS
Debtors 15 6,789,703 1,520,827
Cash at bank 84,752 7,326
6,874,455 1,528,153
CREDITORS
Amounts falling due within one year 16 (3,893,598 ) (1,188,141 )
NET CURRENT ASSETS 2,980,857 340,012
TOTAL ASSETS LESS CURRENT LIABILITIES 5,428,723 2,914,327

CREDITORS
Amounts falling due after more than one
year

17

-

(36,924

)
NET ASSETS 5,428,723 2,877,403

CAPITAL AND RESERVES
Called up share capital 22 390,002 390,002
Retained earnings 23 5,038,721 2,487,401
SHAREHOLDERS' FUNDS 5,428,723 2,877,403

Company's profit for the financial year 2,571,320 1,162,438

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





Mr Gordon Jones - Director


Liberty Group Holdings Limited (Registered number: 03242687)

Consolidated Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Revaluation
capital earnings reserve
£    £    £   
Balance at 1 July 2022 390,002 15,514,009 4,997,996

Changes in equity
Total comprehensive income - 2,724,017 (449,232 )
Balance at 30 June 2023 390,002 18,238,026 4,548,764

Changes in equity
Dividends - (20,000 ) -
Total comprehensive income - 2,438,511 (180,752 )
Balance at 30 June 2024 390,002 20,656,537 4,368,012
Non-controlling Total
Total interests equity
£    £    £   
Balance at 1 July 2022 20,902,007 - 20,902,007

Changes in equity
Total comprehensive income 2,274,785 - 2,274,785
Balance at 30 June 2023 23,176,792 - 23,176,792

Changes in equity
Dividends (20,000 ) - (20,000 )
Total comprehensive income 2,257,759 - 2,257,759
Balance at 30 June 2024 25,414,551 - 25,414,551

Liberty Group Holdings Limited (Registered number: 03242687)

Company Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 390,002 1,324,963 1,714,965

Changes in equity
Total comprehensive income - 1,162,438 1,162,438
Balance at 30 June 2023 390,002 2,487,401 2,877,403

Changes in equity
Dividends - (20,000 ) (20,000 )
Total comprehensive income - 2,571,320 2,571,320
Balance at 30 June 2024 390,002 5,038,721 5,428,723

Liberty Group Holdings Limited (Registered number: 03242687)

Consolidated Cash Flow Statement
for the Year Ended 30 June 2024

30/6/24 30/6/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 5,029,148 5,182,108
Interest paid (8,329 ) (148,552 )
Interest element of hire purchase
payments paid

(18,864

)

(46,430

)
Tax paid (644,928 ) (651,747 )
Net cash from operating activities 4,357,027 4,335,379

Cash flows from investing activities
Purchase of intangible fixed assets - (5,200 )
Purchase of tangible fixed assets (4,700,504 ) (4,291,842 )
Sale of tangible fixed assets 749,427 1,126,898
Interest received 18,776 3,089
Net cash from investing activities (3,932,301 ) (3,167,055 )

Cash flows from financing activities
Capital repayments in year (683,068 ) (981,574 )
Equity dividends paid (20,000 ) -
Net cash from financing activities (703,068 ) (981,574 )

(Decrease)/increase in cash and cash equivalents (278,342 ) 186,750
Cash and cash equivalents at beginning
of year

2

882,931

696,181

Cash and cash equivalents at end of
year

2

604,589

882,931

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 June 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30/6/24 30/6/23
£    £   
Profit before taxation 2,486,361 2,783,478
Depreciation charges 3,027,451 2,850,522
Loss on disposal of fixed assets 49,321 149,608
Finance costs 27,193 194,982
Finance income (18,776 ) (3,089 )
5,571,550 5,975,501
Decrease in stocks 9,727 133,673
(Increase)/decrease in trade and other debtors (312,749 ) 852,167
Decrease in trade and other creditors (239,380 ) (1,779,233 )
Cash generated from operations 5,029,148 5,182,108

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30/6/24 1/7/23
£    £   
Cash and cash equivalents 604,589 882,931
Year ended 30 June 2023
30/6/23 1/7/22
£    £   
Cash and cash equivalents 882,931 711,982
Bank overdrafts - (15,801 )
882,931 696,181


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/7/23 Cash flow At 30/6/24
£    £    £   
Net cash
Cash at bank and in hand 882,931 (278,342 ) 604,589
882,931 (278,342 ) 604,589
Debt
Finance leases (794,732 ) 648,068 (146,664 )
Debts falling due within 1 year (35,000 ) 35,000 -
(829,732 ) 683,068 (146,664 )
Total 53,199 404,726 457,925

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Liberty Group Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements, which are presented alongside the consolidated financial statements.

Exemptions have been taken in relation to the presentation of an individual cash flow statement.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The group has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirement of paragraph 33.7.

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


3. ACCOUNTING POLICIES - continued

Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 30 June 2024.

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

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Inter-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group's equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder's share of changes in equity since the date of the combination.

Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group, in exchange for control of the acquisition, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes an estimated amount of that adjustment in the cost of the combination at the acquisition date, if the adjustment is probable and can be measured reliably.

Going concern

The directors have prepared budgets and cash flow forecasts for all group companies for the medium term. Based on these forecasts, early performance against these forecasts in 2024/25, and the continued good health of the of the group, the directors are comfortable that the group has adequate resources to continue to operate for the foreseeable future and therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Related party exemption
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 wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


3. ACCOUNTING POLICIES - continued

Critical accounting judgements and key sources of estimation uncertainty
Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.


Key sources of estimation uncertainty

Tangible fixed assets are the single largest balance on the group's balance sheet and the method chosen to value the hire fleet assets has a material effect on the group's reporting position and performance. The hire fleet is carried at fair value, amounting to £20,198,296 (2023- £19,362,448) and assessed annually by the directors opinion of its income generation and depreciated replacement cost. Factors which are taken into consideration in arriving at the valuation include current market value, condition, experience and age.

Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods represents the manufacture and sale of site cabins and related equipment, and also the sale of food and beverages.
Turnover from the sale of services represents the hire of site cabins and related equipment.

Turnover from the sale of goods is recognised when the goods are physically delivered or provided to the customer.

Turnover from the sale of services is recognised in the period when the services are provided.

Goodwill
Purchased goodwill represents the excess of the purchase price of business acquisitions compared with the fair value of nets assets, and is being amortised over 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Short leasehold - 6.67% on cost
Plant and machinery - 25% on cost, 15% on reducing balance and 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost, 25% on reducing balance and straight line over 7 years

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent impairment losses. The hire fleet is carried at fair value, assessed by the directors opinion of its income generation. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


3. ACCOUNTING POLICIES - continued

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets

Trade and other debtors:

Trade and other debtors are initially measured at the transaction price. Trade and other debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

A provision for impairment of trade and other debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit and loss for the excess of the carrying value of the trade and other debtors over the present value of the future cash flows discounted using the original effective rate of interest. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit and loss.

Financial liabilities and equity

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 asset of the company after deducting all of its liabilities.

Equity instruments:

Financial instruments classified as equity instruments are recorded at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Trade and other creditors:

Trade and other creditors payable are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amount settled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

30/6/24 30/6/23
£    £   
Sale & hire of site cabins 13,976,567 15,634,542
Operation of bars & restaurant 2,393,882 1,708,360
16,370,449 17,342,902

An analysis of turnover by geographical market is given below:

30/6/24 30/6/23
£    £   
United Kingdom 16,370,449 17,342,902
16,370,449 17,342,902

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


5. EMPLOYEES AND DIRECTORS
30/6/24 30/6/23
£    £   
Wages and salaries 3,658,183 3,706,851
Social security costs 353,252 370,866
Other pension costs 146,077 99,757
4,157,512 4,177,474

The average number of employees during the year was as follows:
30/6/24 30/6/23

Production 62 75
Administration and support 22 22
Sales, marketing and distribution 8 8
Hospitality 59 43
151 148

30/6/24 30/6/23
£    £   
Directors' remuneration 140,773 164,662
Directors' pension contributions to money purchase schemes 85,902 31,570
Compensation to director for loss of office 91,905 -

6. OPERATING PROFIT

The operating profit is stated after charging:

30/6/24 30/6/23
£    £   
Other operating leases 224,433 179,026
Depreciation - owned assets 2,648,129 2,446,588
Depreciation - assets on hire purchase contracts 157,567 227,691
Loss on disposal of fixed assets 49,321 149,608
Goodwill amortisation 33,672 33,672
Computer software amortisation 807 582
Auditors' remuneration 49,396 43,304

7. INTEREST PAYABLE AND SIMILAR EXPENSES
30/6/24 30/6/23
£    £   
Bank loan interest 665 7,607
Other interest payable 1,501 -
Directors loan interest - 144,344
Interest payable 6,163 (3,399 )
Hire purchase 18,864 46,430
27,193 194,982

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30/6/24 30/6/23
£    £   
Current tax:
UK corporation tax 229,889 563,436
Under/over provision - 95,953
Total current tax 229,889 659,389

Deferred tax 433,997 294,451
Tax on profit 663,886 953,840

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30/6/24 30/6/23
£    £   
Profit before tax 2,486,361 2,783,478
Profit multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 20.496 %)

621,590

570,502

Effects of:
Expenses not deductible for tax purposes 6,444 4,437
Capital allowances in excess of depreciation (182,194 ) (72,935 )
Utilisation of tax losses (215,951 ) -
Deferred tax 433,997 294,451
Losses carried forward - 61,432
Under provision - reverse group relief claim - 95,953
Total tax charge 663,886 953,840

Tax effects relating to effects of other comprehensive income

30/6/24
Gross Tax Net
£    £    £   
Movement on hire fleet revaluation 258,615 176,669 435,284

30/6/23
Gross Tax Net
£    £    £   
Movement on hire fleet revaluation 267,378 177,769 445,147

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


10. DIVIDENDS

There were dividends paid during the year amounting to £20,000 (2023 - £nil).

11. INTANGIBLE FIXED ASSETS

Group
Computer
Goodwill software Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 302,969 2,600 305,569
AMORTISATION
At 1 July 2023 146,140 582 146,722
Amortisation for year 33,672 807 34,479
At 30 June 2024 179,812 1,389 181,201
NET BOOK VALUE
At 30 June 2024 123,157 1,211 124,368
At 30 June 2023 156,829 2,018 158,847

Individually material intangible assets

Intangible fixed assets represents goodwill. The carrying amount of these assets is £123,157 (2023 - £156,289).

Goodwill of £66,907 represents goodwill acquired in 2018 from the acquisition of a new subsidiary and the remaining amortisation period is 3 years and 7 months.

Goodwill of £56,250 represents goodwill acquired in 2021 from the acquisition of a new subsidiary and the remaining amortisation period is 3 years and 9 months.

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


12. TANGIBLE FIXED ASSETS

Group
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 July 2023 3,426,616 210,114 19,800,641
Additions 8,229 1,666 3,703,526
Disposals - (47,778 ) (1,030,316 )
Revaluations - - (1,855,162 )
At 30 June 2024 3,434,845 164,002 20,618,689
DEPRECIATION
At 1 July 2023 230,353 199,114 326,962
Charge for year 68,524 1,000 2,287,086
Eliminated on disposal - (47,778 ) (356,140 )
Charge written back - - (1,928,410 )
At 30 June 2024 298,877 152,336 329,498
NET BOOK VALUE
At 30 June 2024 3,135,968 11,666 20,289,191
At 30 June 2023 3,196,263 11,000 19,473,679

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 532,128 2,143,567 26,113,066
Additions 260,337 726,746 4,700,504
Disposals (13,842 ) (608,520 ) (1,700,456 )
Revaluations - - (1,855,162 )
At 30 June 2024 778,623 2,261,793 27,257,952
DEPRECIATION
At 1 July 2023 311,389 1,199,727 2,267,545
Charge for year 98,523 350,563 2,805,696
Eliminated on disposal (13,339 ) (484,451 ) (901,708 )
Charge written back - - (1,928,410 )
At 30 June 2024 396,573 1,065,839 2,243,123
NET BOOK VALUE
At 30 June 2024 382,050 1,195,954 25,014,829
At 30 June 2023 220,739 943,840 23,845,521

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


12. TANGIBLE FIXED ASSETS - continued

Group

Within the plant and machinery asset category is the hire fleet which has a net book value of £20,198,296 (2023 - £19,362,448).

The fair value of the groups hire fleet was revalued on 30 June 2024. An independent valuer was not involved. The hire fleet has been revalued at current fair value by the group finance director on an individual basis by reference to his opinion of its income generation and depreciated replacement cost.

Had this class of asset been measured on a historical cost basis, the carrying amount would have been £18,187,476 (2023 - £17,018,812).

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 1,481,972 683,029 2,165,001
Disposals - (84,391 ) (84,391 )
Revaluations (26,412 ) - (26,412 )
Transfer to ownership (1,068,338 ) (197,020 ) (1,265,358 )
At 30 June 2024 387,222 401,618 788,840
DEPRECIATION
At 1 July 2023 - 305,768 305,768
Charge for year - 157,567 157,567
Eliminated on disposal - (66,019 ) (66,019 )
Transfer to ownership - (157,533 ) (157,533 )
At 30 June 2024 - 239,783 239,783
NET BOOK VALUE
At 30 June 2024 387,222 161,835 549,057
At 30 June 2023 1,481,972 377,261 1,859,233

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


12. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 2,072,796 24,190 265,300 2,362,286
Additions 8,229 880 - 9,109
Disposals - (2,245 ) (110,000 ) (112,245 )
At 30 June 2024 2,081,025 22,825 155,300 2,259,150
DEPRECIATION
At 1 July 2023 48,754 14,122 110,296 173,172
Charge for year 44,168 4,412 64,033 112,613
Eliminated on disposal - (2,217 ) (87,083 ) (89,300 )
At 30 June 2024 92,922 16,317 87,246 196,485
NET BOOK VALUE
At 30 June 2024 1,988,103 6,508 68,054 2,062,665
At 30 June 2023 2,024,042 10,068 155,004 2,189,114

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 265,300
Transfer to ownership (110,000 )
At 30 June 2024 155,300
DEPRECIATION
At 1 July 2023 110,296
Charge for year 64,033
Transfer to ownership (87,083 )
At 30 June 2024 87,246
NET BOOK VALUE
At 30 June 2024 68,054
At 30 June 2023 155,004

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 385,201
NET BOOK VALUE
At 30 June 2024 385,201
At 30 June 2023 385,201

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Liberty Guard (UK) Limited
Registered office: The Old Airfield, Belton Road, Sandtoft, Doncaster DN8 5SX
Nature of business: The sale & hire of site cabins
%
Class of shares: holding
Ordinary 100.00
30/6/24 30/6/23
£    £   
Aggregate capital and reserves 16,408,049 14,433,785
Profit for the year 1,974,264 2,182,291

Pasuda Buildings Limited
Registered office: The Old Airfield, Belton Road, Sandtoft, Doncaster DN8 5SX
Nature of business: The manufacture of site cabins
%
Class of shares: holding
Ordinary 100.00
30/6/24 30/6/23
£    £   
Aggregate capital and reserves 1,054,583 2,429,063
Profit for the year 25,520 256,083

Pasuda (Hire) Limited
Registered office: The Old Airfield, Belton Road, Sandtoft, Doncaster DN8 5SX
Nature of business: The sale & hire of site cabins
%
Class of shares: holding
Ordinary 100.00
30/6/24 30/6/23
£    £   
Aggregate capital and reserves 2,200,549 3,228,573
Profit for the year 371,976 147,823

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


13. FIXED ASSET INVESTMENTS - continued

Twelco Limited
Registered office: The Old Airfield, Belton Road, Sandtoft, Doncaster DN8 5SX
Nature of business: Dissolved 11 July 2023
%
Class of shares: holding
Ordinary 100.00
30/6/24 30/6/23
£    £   
Aggregate capital and reserves - 34,920
Loss for the year - (167 )

Pasuda Site Services Limited
Registered office: The Old Airfield, Belton Road, Sandtoft, Doncaster DN8 5SX
Nature of business: Dissolved 11 July 2023
%
Class of shares: holding
Ordinary 100.00
30/6/24 30/6/23
£    £   
Aggregate capital and reserves - 19,997
Loss for the year - (155 )

Don Valley Brewery Ltd - previously known as Speakeasy Co. Limited
Registered office: The Old Airfield, Belton Road, Sandtoft,Doncaster DN8 5SX
Nature of business: Operation of bars and restaurants
%
Class of shares: holding
Ordinary 100.00
30/6/24 30/6/23
£    £   
Aggregate capital and reserves (86,069 ) (167,599 )
Profit/(loss) for the year 81,530 (16,005 )

This company is entitled to exemption from audit under Section 479A of the Companies Act 2006 relating to subsidiary companies for the year ended 30 June 2024.

Speakeasy Enterprises Limited
Registered office: The Old Airfield, Belton Road, Sandtoft,Doncaster DN8 5SX
Nature of business: Landlord of licenced premises
%
Class of shares: holding
Ordinary 100.00
30/6/24 30/6/23
£    £   
Aggregate capital and reserves 139,764 103,178
Profit for the year 36,586 40,136

This company is entitled to exemption from audit under Section 479A of the Companies Act 2006 relating to subsidiary companies for the year ended 30 June 2024.


Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


14. STOCKS

Group
30/6/24 30/6/23
£    £   
Stocks 635,307 671,855
Work-in-progress 206,012 179,191
841,319 851,046

15. DEBTORS

Group Company
30/6/24 30/6/23 30/6/24 30/6/23
£    £    £    £   
Amounts falling due within one year:
Trade debtors 3,375,050 3,316,248 - 16
Amounts owed by group undertakings - - 6,762,278 1,337,671
Other debtors 4,460 191,425 4,570 161,260
Tax - 2,148 - -
Prepayments 569,971 157,644 22,855 18,310
3,949,481 3,667,465 6,789,703 1,517,257

Amounts falling due after more than one year:
Trade debtors 32,238 245 - -
Other debtors 2,310 3,570 - 3,570
34,548 3,815 - 3,570

Aggregate amounts 3,984,029 3,671,280 6,789,703 1,520,827

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30/6/24 30/6/23 30/6/24 30/6/23
£    £    £    £   
Bank loans and overdrafts (see note 18) - 35,000 - 35,000
Hire purchase contracts (see note 19) 146,664 651,321 40,178 73,377
Trade creditors 1,706,049 1,616,505 20,145 5,060
Amounts owed to group undertakings - - 3,465,187 562,074
Tax 13,490 427,232 1,357 -
Social security and other taxes 75,198 83,034 24,446 23,831
VAT 252,251 492,106 58,778 48,261
Other creditors 73,846 23,005 60,606 5,727
Directors' loan accounts - 364,792 - 364,792
Accrued expenses 602,002 369,284 222,901 70,019
2,869,500 4,062,279 3,893,598 1,188,141

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
30/6/24 30/6/23 30/6/24 30/6/23
£    £    £    £   
Hire purchase contracts (see note 19) - 143,411 - 36,924

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
30/6/24 30/6/23 30/6/24 30/6/23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans - 35,000 - 35,000

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
30/6/24 30/6/23
£    £   
Net obligations repayable:
Within one year 146,664 651,321
Between one and five years - 143,411
146,664 794,732

Company
Hire purchase contracts
30/6/24 30/6/23
£    £   
Net obligations repayable:
Within one year 40,178 73,377
Between one and five years - 36,924
40,178 110,301

Group
Non-cancellable operating leases
30/6/24 30/6/23
£    £   
Within one year 48,000 48,000
Between one and five years 192,000 192,000
In more than five years 192,000 240,000
432,000 480,000

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


20. SECURED DEBTS

The following secured debts are included within creditors:

Group
30/6/24 30/6/23
£    £   
Bank loans - 35,000
Hire purchase contracts 146,664 794,732
146,664 829,732

The hire purchase liabilities are secured against the related assets.
The bank overdraft facility is secured by way of a legal charge over the trading property (The Old Airfield, Belton Road, Sandtoft, Doncaster DN8 5SX) and there is also an un-limited inter company composite guarantee by and between each member of the group.

21. PROVISIONS FOR LIABILITIES

Group
30/6/24 30/6/23
£    £   
Deferred tax
Accelerated capital allowances 2,369,991 2,014,299
Other timing differences (84,908 ) 12,844
2,285,083 2,027,143

Group
Deferred
tax
£   
Balance at 1 July 2023 2,027,143
Charge to Income Statement during year 433,997
On revaluation of hire fleet (176,057 )
Balance at 30 June 2024 2,285,083

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/24 30/6/23
value: £    £   
390,002 Ordinary 390,002 390,002 390,002

Called up share capital represents the nominal value of shares that have been issued.

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


23. RESERVES

Group
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2023 18,238,026 4,548,764 22,786,790
Profit for the year 1,822,475 1,822,475
Dividends (20,000 ) (20,000 )
Other movements 616,036 (180,752 ) 435,284
At 30 June 2024 20,656,537 4,368,012 25,024,549

Company
Retained
earnings
£   

At 1 July 2023 2,487,401
Profit for the year 2,571,320
Dividends (20,000 )
At 30 June 2024 5,038,721

Group and company

Revaluation reserve
The revaluation reserve represents the revaluation of the group's hire fleet and elimination of the inter-group profit on construction of the hire fleet.

Retained earnings
Retained earnings includes all current and prior period profits and losses, net of dividends paid and other adjustments.

24. CAPITAL COMMITMENTS
30/6/24 30/6/23
£    £   
Contracted but not provided for in the
financial statements - 893,895

25. RELATED PARTY DISCLOSURES

Other related parties

The Pasuda Self Administered Pension Scheme

A group director is the sole beneficiary of the scheme, and the scheme owns the groups trading premises at Highfield Lane, Orgreave, Sheffield S13 9NA

During the year the group paid rental charges of £48,000 (2023 - £48,000) in respect of the above property.

As at the balance sheet date the amount due to The Pasuda Self Administered Pension Scheme was £nil (2023 - nil).

Liberty Group Holdings Limited (Registered number: 03242687)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


26. ULTIMATE CONTROLLING PARTY

The controlling party is Gordon Jones.

The ultimate controlling party is Gordon Jones.