Company registration number NI023037 (Northern Ireland)
JAMES LECKEY DESIGN LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
JAMES LECKEY DESIGN LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 8
Income statement
9
Statement of comprehensive income
10
Statement of financial position
11
Statement of changes in equity
12
Statement of cash flows
13
Notes to the financial statements
14 - 31
JAMES LECKEY DESIGN LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

The directors present the strategic report for the year ended 30 June 2024.

Review of the business

The principle activity of James Leckey Design Ltd (the “Company”) is the manufacture and distribution of paediatric positioning and rehabilitation products. Future developments are likely to be in similar fields.

The Company continues to invest in research and development (R&D). This continues to result in updates to existing products as well as the development of new ones. The directors regard R&D investment as necessary for the continuing success of the Company.

Key performance indicators
The results are shown in the Company's income statement on page 10 of the financial statements. They are summarised below.
2024
2023
Turnover
19,901,243
18,495,209
Profit before taxation
3,857,559
1,102,624
James Leckey Design Limited manages its operations on a global basis.  For this reason, the Company's directors believe that further key performance indicators for this Company, James Leckey Design Limited, are not necessary or appropriate for an understanding of the development, performance or position of the business.
Principal Risks and Uncertainties

Competitive pressure globally is a continuing risk for the Company, which could result in it losing market share to its competitors. The Company manages this risk by investing heavily in R&D activities to maintain product superiority, by providing added value services to its customers, having fast response times not only in supplying products but also in handling customer queries and by maintaining strong relationships with customers.

There is also exposure to foreign currency exchange rates. The group’s treasury function takes out contracts on behalf of James Leckey Design Limited to cover the forecast foreign exchange requirements to manage the exchange rate risk at a group level.

Financial risks management objectives and policies

The company uses various financial instruments including bank loans and overdrafts, cash and various items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.

The existence of these financial instruments exposes the group to a number of financial risks. The main risks arising from the company's financial instruments are foreign exchange risks, interest rate risk, credit risk and liquidity risks.

The directors review and agree policies for management each of the above risks.

JAMES LECKEY DESIGN LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
Future developments
Past the balance sheet date the Company has seen positive development of trading performance and, the nature of the Company's products (mobility/healthcare) and markets (mainly directly or indirectly government funded) give the directors reason to believe that the Company's performance will continue to increase through the next financial year.

On behalf of the board

Mr J Barratt
Director
24 March 2025
JAMES LECKEY DESIGN LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -

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

Principal activities

The principal activity of the company is the design, manufacture and sale of equipment for children and young adults with disabilities.

Results and dividends

The results for the year are set out on page 3.

No ordinary dividends were paid. 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 T Babacan
Mr J Barratt
Mr A Platt
Auditor

In accordance with the company's articles, a resolution proposing that Harbinson Mulholland be reappointed as auditor of the company will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the Strategic Report, 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). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

JAMES LECKEY DESIGN LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
Statement of disclosure to auditor

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

 

On behalf of the board
Mr J Barratt
Director
24 March 2025
JAMES LECKEY DESIGN LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JAMES LECKEY DESIGN LIMITED
- 5 -
Opinion

We have audited the financial statements of James Leckey Design Limited (the 'company') for the year ended 30 June 2024 which comprise the income statement, the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

 

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

 

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

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

JAMES LECKEY DESIGN LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF JAMES LECKEY DESIGN LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and 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:

 

Responsibilities of directors

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

Auditor's responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

 

 

JAMES LECKEY DESIGN LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF JAMES LECKEY DESIGN 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 for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditors responsibilities. This description forms part of our auditor’s report.

 

 

 

JAMES LECKEY DESIGN LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF JAMES LECKEY DESIGN LIMITED
- 8 -

The purpose of our audit work and to whom we owe our responsibilities

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.

Darren McDowell (Senior Statutory Auditor)
For and on behalf of Harbinson Mulholland
Chartered Accountants
Statutory Auditors
26 March 2025
6th Floor East Tower
Lanyon Plaza
8 Lanyon Place
Belfast
Co Antrim
Northern Ireland
BT2 8HS
JAMES LECKEY DESIGN LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
2024
2023
Notes
£
£
Turnover
3
19,901,243
18,495,209
Cost of sales
(10,533,825)
(11,638,792)
Gross profit
9,367,418
6,856,417
Distribution costs
(808,963)
(813,232)
Administrative expenses
(5,091,099)
(5,030,906)
Other operating income
-
0
23,375
Operating profit
4
3,467,356
1,035,654
Interest receivable and similar income
7
395,604
75,941
Interest payable and similar expenses
8
(5,401)
(8,971)
Profit before taxation
3,857,559
1,102,624
Tax on profit
9
(24,606)
147,040
Profit for the financial year
3,832,953
1,249,664

The income statement has been prepared on the basis that all operations are continuing operations.

JAMES LECKEY DESIGN LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024
- 10 -
Year ended
Year ended
30 June
30 June
2024
2023
£
£
Profit for the year
3,832,953
1,249,664
Other comprehensive income
-
-
Total comprehensive income for the year
3,832,953
1,249,664
The notes on pages 14 to 31 form part of these financial statements.
JAMES LECKEY DESIGN LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
30 June 2024
- 11 -
30 June
30 June
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
10
940,442
1,011,084
Tangible assets
11
810,924
1,310,476
Investments
12
1,200
1,200
1,752,566
2,322,760
Current assets
Stocks
15
3,297,800
3,326,152
Debtors
16
9,950,636
4,743,643
Cash at bank and in hand
233,270
59,029
13,481,706
8,128,824
Creditors: amounts falling due within one year
17
(4,367,594)
(3,272,861)
Net current assets
9,114,112
4,855,963
Total assets less current liabilities
10,866,678
7,178,723
Creditors: amounts falling due after more than one year
18
(31,840)
(86,444)
Provisions for liabilities
Deferred tax liability
20
185,396
275,790
(185,396)
(275,790)
Net assets
10,649,442
6,816,489
Capital and reserves
Called up share capital
23
50,000
50,000
Share premium account
73,889
73,889
Capital redemption reserve
27,776
27,776
Other reserves
43,781
43,781
Profit and loss reserves
10,453,996
6,621,043
Total equity
10,649,442
6,816,489
The financial statements were approved by the board of directors and authorised for issue on 24 March 2025 and are signed on its behalf by:
Mr J Barratt
Director
Company Registration No. NI023037
JAMES LECKEY DESIGN LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 12 -
Share capital
Share premium account
Capital redemption reserve
Other reserves
Profit and loss reserves
Total
£
£
£
£
£
£
Balance at 1 July 2022
50,000
73,889
27,776
43,781
5,371,379
5,566,825
Year ended 30 June 2023:
Profit and total comprehensive income for the year
-
-
-
-
1,249,664
1,249,664
Balance at 30 June 2023
50,000
73,889
27,776
43,781
6,621,043
6,816,489
Year ended 30 June 2024:
Profit and total comprehensive income for the year
-
-
-
-
3,832,953
3,832,953
Balance at 30 June 2024
50,000
73,889
27,776
43,781
10,453,996
10,649,442
JAMES LECKEY DESIGN LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024
- 13 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
28
63,321
792,636
Interest paid
(5,401)
(8,971)
Income taxes refunded/(paid)
62,372
-
0
Net cash inflow from operating activities
120,292
783,665
Investing activities
Purchase of intangible assets
(164,112)
(489,106)
Purchase of tangible fixed assets
(74,423)
(369,603)
Proceeds on disposal of tangible fixed assets
93
-
0
Interest received
395,604
75,941
Net cash generated from/(used in) investing activities
157,162
(782,768)
Financing activities
Payment of finance leases obligations
(103,213)
(94,935)
Net cash used in financing activities
(103,213)
(94,935)
Net increase/(decrease) in cash and cash equivalents
174,241
(94,038)
Cash and cash equivalents at beginning of year
59,029
153,067
Cash and cash equivalents at end of year
233,270
59,029
JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 14 -
1
Accounting policies
Company information

James Leckey Design Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 19c Ballinderry Road, Lisburn, Co Antrim, Northern Ireland, BT28 2SA.

1.1
Accounting convention

The financial statements are prepared under the historical cost convention.

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

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

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

 

 

The financial statements of the company are consolidated in the financial statements of Cidron Ollopa Investment BV. These consolidated financial statements are available from the company's registered office, 19c Ballinderry Road, Lisburn, Co Antrim, BT28 2SA.

1.2
Going concern

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

1.3
Turnover

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

 

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 15 -
1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Research and development
5 years straight line
1.6
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.

Tangible fixed assets are initially valued at cost to acquire or construct, including costs directly attributable to bringing the asset into working condition for its intended use, and net of any VAT recoverable.  Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
20% Straight line
Fixtures, fittings & equipment
20% straight line
Demo Stock
33% straight line

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

1.7
Fixed asset investments

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

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

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

1.8
Impairment of fixed assets

At each reporting period end date, the company 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.

JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 16 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the income statement. Reversals of impairment losses are also recognised in profit or loss.

1.10
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
Financial instruments

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

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

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

Basic financial assets

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

JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 17 -
Other financial assets

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

Impairment of financial assets

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

 

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

 

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

Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 18 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

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

1.13
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in the income statement immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

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 income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 19 -
Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

 

A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

 

Deferred tax is measured on a non discounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the income statement in the year they are payable.

1.17
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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

1.18
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. In the case of capitalised research and development expenditure, related grant income is recognised as income over the amortisation period of the capitalised research and development expenditure. A grant received before the recognition criteria are satisfied is recognised as a liability.

JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 20 -
1.19
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are restranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in the income statement.

1.20

Warranties for Products

Provision is made for the estimated liability on all products still under warranty including claims already recieved.

JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 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.

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.

The directors have prepared budgets and cash flows for a period of at least twelve months from the date of the approval of the financial statements which demonstrate that there is no material uncertainty regarding the company's ability to meet its liabilities as they fall due, and to continue as a going concern. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. Accordingly, these financial statements do not include any adjustments to the carrying amounts and classification of assets and liabilities that may arise if the company was unable to continue as a going concern.

The company uses estimates based on historical experience, the ageing of debt and current information in determining the level of debts for which an impairment charge is required. The level of impairment required is reviewed on an ongoing basis. The total amount of trade debtors is £1,672,182 (2023: £1,598,352).

The company holds stocks amounting to £3,297,800 (2023: £3,326,152) at the financial year end date. The directors are of the view that an adequate charge has been made to reflect the possibility of stocks being sold at less than cost. However, this estimate is subject to inherent uncertainty.

Long-lived assets comprising primarily of property, plant and machinery represent a significant portion of total assets. The annual depreciation charge depends primarily on the estimated lives of each type of asset and, in certain circumstances, estimates of residual values. The directors regularly review these useful lives and change them if necessary to reflect current conditions. In determining these useful lives management consider technological change, patterns of consumption, physical condition and expected economic utilisation of the assets. Changes in the useful lives can have a significant impact on the depreciation charge for the financial year. The net book value of tangible fixed assets subject to depreciation at the financial year end date was £810,924 (2023: £1,310,476).

The company has a policy of separating the treatment of items that are of a one-off, non-recurring, extraordinary or exceptional nature as outside underlying operating profit before interest, depreciation, amortisation and impairment (“EBITDA”). This supports the reader of the accounts in understanding underlying EBITDA performance of the company. The definition identifies activities that are 1) not in the normal course of business trading 2) duplication of spend in transition to a new operating model 3) non-contributory to business performance e.g. loss of office payments.

JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 22 -
3
Turnover and other revenue

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

Year ended
Year ended
30 June
30 June
2024
2023
£
£
Other significant revenue
Interest income
395,604
75,941
Grants received
-
23,375
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses/(gains)
16,571
(40,961)
Government grants
-
(23,375)
Fees payable to the company's auditor for the audit of the company's financial statements
26,605
21,980
Depreciation of owned tangible fixed assets
573,882
777,083
Amortisation of intangible assets
234,754
274,141
Operating lease charges
585,930
560,890
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
26,605
21,980
6
Employees

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

Year ended
Year ended
30 June
30 June
2024
2023
Number
Number
Administration
80
81
Production
68
68
Total
148
149
JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
6
Employees
(Continued)
- 23 -
Year ended
Year ended

Their aggregate remuneration comprised:

30 June
30 June
2024
2023
£
£
Wages and salaries
3,481,239
3,283,483
Social security costs
399,504
379,909
Pension costs
144,259
141,011
4,025,002
3,804,403
7
Interest receivable and similar income
Year ended
Year ended
30 June
30 June
2024
2023
£
£
Interest income
Other interest income
395,604
75,941
8
Interest payable and similar expenses
Year ended
Year ended
30 June
30 June
2024
2023
£
£
Other interest on financial liabilities
1,641
3,605
Interest on finance leases and hire purchase contracts
3,760
5,366
5,401
8,971
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
115,000
-
0
Adjustments in respect of prior periods
-
0
(292,340)
Total current tax
115,000
(292,340)
Deferred tax
Origination and reversal of timing differences
(90,394)
3,074
Adjustment in respect of prior periods
-
0
142,226
Total deferred tax
(90,394)
145,300
Total tax charge/(credit)
24,606
(147,040)
JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
9
Taxation
(Continued)
- 24 -

The standard rate of tax applied to reported profit is 25.0 per cent (2023: 25.0 per cent).

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

2024
2023
£
£
Profit before taxation
3,857,559
1,102,624
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 20.48%)
964,390
225,817
Adjustments in respect of prior years
-
0
(304,131)
Group relief
(717,225)
(106,908)
Research and development tax credit
(25,000)
(79,521)
Other permanent differences
(54,665)
17,928
Deferred tax adjustments in respect of prior years
(90,394)
142,226
Difference in current and deferred tax rates
-
0
556
Patent Box
(52,500)
(43,007)
Taxation charge/(credit) for the year
24,606
(147,040)

The UK corporation tax rate for the year was 25.0% (2023: 25.0%).

10
Intangible fixed assets
Development Costs
£
Cost
At 1 July 2023
3,166,847
Additions - internally developed
164,112
At 30 June 2024
3,330,959
Amortisation and impairment
At 1 July 2023
2,155,763
Amortisation charged for the year
234,754
At 30 June 2024
2,390,517
Carrying amount
At 30 June 2024
940,442
At 30 June 2023
1,011,084
JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 25 -
11
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Demo Stock
Total
£
£
£
£
£
Cost
At 1 July 2023
4,828,540
2,302,233
-
0
846,211
7,976,984
Additions
17,222
-
0
57,201
-
0
74,423
Disposals
(367,254)
-
0
-
0
(52,417)
(419,671)
Adjusting fully depreciated assets
(2,024,452)
(1,621,400)
-
0
-
0
(3,645,852)
At 30 June 2024
2,454,056
680,833
57,201
793,794
3,985,884
Depreciation and impairment
At 1 July 2023
3,843,020
2,223,796
-
0
599,692
6,666,508
Depreciation charged in the year
374,883
33,667
6,250
159,082
573,882
Eliminated in respect of disposals
(367,161)
-
0
-
0
(52,417)
(419,578)
Adjusting fully depreciated assets
(2,024,452)
(1,621,400)
-
0
-
0
(3,645,852)
At 30 June 2024
1,826,290
636,063
6,250
706,357
3,174,960
Carrying amount
At 30 June 2024
627,766
44,770
50,951
87,437
810,924
At 30 June 2023
985,520
78,437
-
0
246,519
1,310,476
12
Fixed asset investments
30 June
30 June
2024
2023
Notes
£
£
Investments in subsidiaries
13
1,200
1,200
13
Subsidiaries

Details of the company's subsidiaries at 30 June 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Fireflyfriends Limited
Northern Ireland
Ordinary
100.00
Vida Global Limited
Northern Ireland
Ordinary
100.00
JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 26 -
14
Financial instruments
30 June
30 June
2024
2023
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
9,813,957
4,512,290
Carrying amount of financial liabilities
Measured at amortised cost
3,522,076
3,072,447
15
Stocks
30 June
30 June
2024
2023
£
£
Raw materials and consumables
1,867,886
1,929,063
Work in progress
735,270
721,015
Finished goods and goods for resale
694,644
676,074
3,297,800
3,326,152
16
Debtors
30 June
30 June
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,672,182
1,598,352
Corporation tax recoverable
-
0
62,372
Amounts owed by group undertakings
8,134,412
2,843,545
Other debtors
7,363
70,393
Prepayments and accrued income
136,679
168,981
9,950,636
4,743,643
JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 27 -
17
Creditors: amounts falling due within one year
30 June
30 June
2024
2023
Notes
£
£
Obligations under finance leases
19
46,326
94,935
Trade creditors
1,600,808
1,157,357
Corporation tax
115,000
-
0
Other taxation and social security
411,724
284,827
Deferred income
21
350,634
2,031
Other creditors
291,416
258,255
Accruals and deferred income
1,551,686
1,475,456
4,367,594
3,272,861
18
Creditors: amounts falling due after more than one year
30 June
30 June
2024
2023
Notes
£
£
Obligations under finance leases
19
31,840
86,444
19
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
46,326
94,935
In two to five years
31,840
86,444
78,166
181,379

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 7 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 28 -
20
Deferred taxation

The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Fixed asset timing differences
192,484
349,983
Short term timing differences
(7,088)
(74,193)
185,396
275,790
2024
Movements in the year:
£
Liability at 1 July 2023
275,790
Credit to profit or loss
(90,394)
Liability at 30 June 2024
185,396

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so and where the assets and liabilities relate to income taxes levied by the same taxation authority on the same taxable entity or another entity within the Company.

21
Deferred income
30 June
30 June
2024
2023
£
£
Arising from government grants
2,031
2,031
Other deferred income
348,603
-
350,634
2,031
22
Retirement benefit schemes
Year ended
Year ended
30 June
30 June
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
144,259
141,011

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
22
Retirement benefit schemes
(Continued)
- 29 -

At 30 June 2024 an amount of £33,206 (2023: £32,673) was due to the pension provider and included in creditors.

23
Share capital
30 June
30 June
30 June
30 June
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
50,000
50,000
50,000
50,000
24
Operating lease commitments
Lessee

Total commitment under operating leases amounted to £670,186 (2023: £1,110,443)

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

30 June
30 June
2024
2023
£
£
Within one year
497,376
525,848
Between two and five years
172,810
584,595
670,186
1,110,443
25
Events after the reporting date

In September 2024, a parent company of James Leckey Design Limited was acquired and is indirectly owned by investment vehicles of certain private investment funds sponsored by Platinum Equity LLC.

As at the balance sheet date, the Company’s ultimate parent entity and controlling party was Cidron Ollopa Investment B.V, a company incorporated in the Netherlands. Subsequent to the year end, Cidron Ollopa B.V.’s name was changed to Ray Dutch Holding I B.V. as a result of the acquisition referred to above.

 

JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 30 -
26
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

Year ended
Year ended
30 June
30 June
2024
2023
£
£
Aggregate compensation
388,569
369,342
27
Ultimate controlling party

In September 2024, a parent company of James Leckey Design Limited was acquired and is indirectly owned by investment vehicles of certain private investment funds sponsored by Platinum Equity LLC.

 

As at the balance sheet date, the Company’s ultimate parent entity and controlling party was Cidron Ollopa Investment B.V, a company incorporated in the Netherlands. Subsequent to the year end, Cidron Ollopa Investment B.V.’s name was changed to Ray Dutch Holding I B.V. as a result of the acquisition referred to above. The company's immediate parent company is Sunrise Medical Holdings Limited, a company incorporated in the UK. The parent company of the smallest and largest group to consolidate financial statements is Ray Dutch Holding I B.V. and copies of these financial statements may be obtained from the company's registered address at Defensiedok 20, 3433 KL Nieuwegein, The Netherlands.

28
Cash generated from operations
2024
2023
£
£
Profit for the year after tax
3,832,953
1,249,664
Adjustments for:
Taxation charged/(credited)
24,606
(147,040)
Finance costs
5,401
8,971
Investment income
(395,604)
(75,941)
Amortisation and impairment of intangible assets
234,754
274,141
Depreciation and impairment of tangible fixed assets
573,882
777,083
Movements in working capital:
Decrease in stocks
28,352
1,322,543
Increase in debtors
(5,269,365)
(2,059,922)
Increase/(decrease) in creditors
679,739
(556,863)
Increase in deferred income
348,603
-
Cash generated from operations
63,321
792,636
JAMES LECKEY DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 31 -
29
Analysis of changes in net funds/(debt)
1 July 2023
Cash flows
30 June 2024
£
£
£
Cash at bank and in hand
59,029
174,241
233,270
Obligations under finance leases
(181,379)
103,213
(78,166)
(122,350)
277,454
155,104
2024-06-302023-07-01falsefalsefalseCCH SoftwareCCH Accounts Production 2024.310Mr T BabacanMr J BarrattMr A PlattMrs Elizabeth PeelNI0230372023-07-012024-06-30NI023037bus:Director22023-07-012024-06-30NI023037bus:Director12023-07-012024-06-30NI023037bus:Director32023-07-012024-06-30NI023037bus:CompanySecretary12023-07-012024-06-30NI0230372024-06-30NI0230372022-07-012023-06-30NI023037core:RetainedEarningsAccumulatedLosses2022-07-012023-06-30NI023037core:RetainedEarningsAccumulatedLosses2023-07-012024-06-30NI0230372023-06-30NI023037core:PlantMachinery2024-06-30NI023037core:FurnitureFittings2024-06-30NI023037core:ComputerEquipment2024-06-30NI023037core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-06-30NI023037core:PlantMachinery2023-06-30NI023037core:FurnitureFittings2023-06-30NI023037core:ComputerEquipment2023-06-30NI023037core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-06-30NI023037core:ShareCapital2024-06-30NI023037core:ShareCapital2023-06-30NI023037core:SharePremium2024-06-30NI023037core:SharePremium2023-06-30NI023037core:CapitalRedemptionReserve2024-06-30NI023037core:CapitalRedemptionReserve2023-06-30NI023037core:OtherMiscellaneousReserve2024-06-30NI023037core:OtherMiscellaneousReserve2023-06-30NI023037core:RetainedEarningsAccumulatedLosses2024-06-30NI023037core:RetainedEarningsAccumulatedLosses2023-06-30NI023037core:ShareCapital2022-06-30NI023037core:SharePremium2022-06-30NI023037core:CapitalRedemptionReserve2022-06-30NI023037core:OtherMiscellaneousReserve2022-06-30NI023037core:RetainedEarningsAccumulatedLosses2022-06-30NI0230372022-06-30NI0230372023-06-30NI023037core:PlantMachinery2023-07-012024-06-30NI023037core:FurnitureFittings2023-07-012024-06-30NI023037core:UKTax2023-07-012024-06-30NI023037core:UKTax2022-07-012023-06-30NI02303712023-07-012024-06-30NI02303712022-07-012023-06-30NI02303722023-07-012024-06-30NI02303722022-07-012023-06-30NI02303732023-07-012024-06-30NI02303732022-07-012023-06-30NI023037core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-06-30NI023037core:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-06-30NI023037core:DevelopmentCostsCapitalisedDevelopmentExpenditurecore:InternallyGeneratedIntangibleAssets2023-07-012024-06-30NI023037core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-07-012024-06-30NI023037core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-06-30NI023037core:PlantMachinery2023-06-30NI023037core:FurnitureFittings2023-06-30NI023037core:ComputerEquipment2023-06-30NI023037core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-06-30NI023037core:ComputerEquipment2023-07-012024-06-30NI023037core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-07-012024-06-30NI023037core:Non-currentFinancialInstruments2024-06-30NI023037core:Non-currentFinancialInstruments2023-06-30NI023037core:CurrentFinancialInstruments2024-06-30NI023037core:CurrentFinancialInstruments2023-06-30NI023037core:WithinOneYear2024-06-30NI023037core:WithinOneYear2023-06-30NI023037core:BetweenTwoFiveYears2024-06-30NI023037core:BetweenTwoFiveYears2023-06-30NI023037bus:PrivateLimitedCompanyLtd2023-07-012024-06-30NI023037bus:FRS1022023-07-012024-06-30NI023037bus:Audited2023-07-012024-06-30NI023037bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP