Company registration number 14834765 (England and Wales)
PEHLWAN MALIK HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PEHLWAN MALIK HOLDINGS LIMITED
COMPANY INFORMATION
Director
J Malik
Company number
14834765
Registered office
386 Park Road
Hockley
Birmingham
West Midlands
England
B18 5ST
Auditor
Spencer Gardner Dickins (Audit Services) Limited
3 Coventry Innovation Village
Cheetah Road
Coventry
CV1 2TL
PEHLWAN MALIK HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1
Director's report
2 - 3
Independent auditor's report
4 - 6
Group statement of comprehensive income
7
Group balance sheet
8
Company balance sheet
9
Group statement of changes in equity
10
Company statement of changes in equity
11
Group statement of cash flows
12
Company statement of cash flows
13
Notes to the financial statements
14 - 30
PEHLWAN MALIK HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 1 -

The director presents the strategic report for the year ended 31 July 2024. The results of the group are primarily driven by the results of the group's main trading subsidiary, Green Destinations Limited.

Review of the business

The key performance indicators that are used to manage the business are primarily turnover, gross margin and profit before tax.

 

2024

2023

Turnover

£19,709,526

£23,570,867

Gross Profit %

45.97%

63.47%

Profit before tax

£7,542,089

£11,234,674

 

 

 

The 2024 KPI’s above have declined when compared to 2023 due to the competitive market and challenging macro-economic conditions. However, given the market and economic background, the 2024 results have met management expectations. The company continues to invest in fixed assets to deliver a sustainable business for the long term and is well positioned to continue to successfully serve its customers and wider stakeholders.

Principal risks and uncertainties

The group has identified a number of business risks and uncertainties, along with policies to mitigate those risks.

 

Potential future legislation, regulations and actions could cause additional operational expense, the extent of which cannot be predicted. The company takes responsibility for ensuring that all relevant legislation is met.

 

Potential future legislation, regulations and actions could cause additional operational expense, and/or the requirement for future capital expenditure. To mitigate this risk a fleet replacement plan is in place and a constant monitoring of future market requirements is maintained.

 

These include equipment failure, damage or substandard service, and include changes in customer operations. The risk of oil price changes affecting the cost of sales is an uncontrollable risk for the group. The group seeks to minimise these risks by investing in environmentally advanced equipment, improvements in customer engagement with over 1,000 Google Reviews of 4.9 out of 5 stars whilst closely monitoring the legislative developments within the market. The company is motivated to deliver high quality home-to-school transport services and was selected as Finalist for Outstanding Customer Experience by the RouteOne Magazine Award.

 

IT systems are more vital than ever to business operations and, therefore, any vulnerability to external attacks can expose the group to financial as well as reputational losses. The group continuously implements robust IT security policies and practices to detect and prevent cyber security threats. The company regularly educates its staff about cyber risks and provides guidance on best practices for avoidance and mitigation.

On behalf of the board

J Malik
Director
24 April 2025
PEHLWAN MALIK HOLDINGS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 2 -

The director presents his annual report and financial statements for the year ended 31 July 2024.

Principal activities

The principal activity of the company and group continued to be that of provision of passenger transport services.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £116,208 (2023: £118,633). The director does not recommend payment of a further dividend.

Director

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

J Malik
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The group's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

 

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

 

There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the company's performance.

Energy and carbon report

The company will report on carbon reporting and energy usage within the next set of financial statements.

PEHLWAN MALIK HOLDINGS LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
Statement of director's responsibilities

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

 

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

 

 

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

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
J Malik
Director
24 April 2025
PEHLWAN MALIK HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PEHLWAN MALIK HOLDINGS LIMITED
- 4 -
Opinion

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

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

 

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

 

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

Other information

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

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

PEHLWAN MALIK HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF PEHLWAN MALIK HOLDINGS LIMITED
- 5 -
Matters on which we are required to report by exception

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

 

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

Responsibilities of director

As explained more fully in the director's responsibilities statement, the director is 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 director determines 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 director is responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the parent company or to cease operations, or has 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:

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

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

PEHLWAN MALIK HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF PEHLWAN MALIK HOLDINGS LIMITED
- 6 -

Other matters which we are required to address

In accordance with ISA (UK) 710, paragraph 14, we would like to bring to your attention that the corresponding figures have not been subject to audit.

Use of our report

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

Demsey Slater FCCA (Senior Statutory Auditor)
For and on behalf of Spencer Gardner Dickins (Audit Services) Limited
24 April 2025
Chartered Accountants
Statutory Auditor
3 Coventry Innovation Village
Cheetah Road
Coventry
CV1 2TL
PEHLWAN MALIK HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
19,709,526
23,570,867
Cost of sales
(10,649,491)
(8,610,801)
Gross profit
9,060,035
14,960,066
Administrative expenses
(2,559,587)
(3,783,933)
Other operating income
63,331
550
Operating profit
4
6,563,779
11,176,683
Interest receivable and similar income
8
902,244
104,582
Interest payable and similar expenses
9
(88,460)
(46,591)
Amounts written off investments
10
164,526
-
Profit before taxation
7,542,089
11,234,674
Tax on profit
11
(1,975,034)
(2,451,525)
Profit for the financial year
5,567,055
8,783,149
Profit for the financial year is all attributable to the owner of the parent company.
Total comprehensive income for the year is all attributable to the owner of the parent company.
PEHLWAN MALIK HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
13
5,078,630
3,680,102
Investments
14
3,341,445
-
8,420,075
3,680,102
Current assets
Debtors
16
4,550,482
1,814,481
Cash at bank and in hand
11,409,584
12,563,574
15,960,066
14,378,055
Creditors: amounts falling due within one year
17
(5,199,232)
(4,230,613)
Net current assets
10,760,834
10,147,442
Total assets less current liabilities
19,180,909
13,827,544
Creditors: amounts falling due after more than one year
18
(259,998)
(726,674)
Provisions for liabilities
Deferred tax liability
20
597,076
227,882
(597,076)
(227,882)
Net assets
18,323,835
12,872,988
Capital and reserves
Called up share capital
22
1,000
1,000
Profit and loss reserves
18,322,835
12,871,988
Total equity
18,323,835
12,872,988
The financial statements were approved by the board of directors and authorised for issue on 24 April 2025 and are signed on its behalf by:
24 April 2025
J Malik
Director
Company registration number 14834765 (England and Wales)
PEHLWAN MALIK HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 9 -
2024
Notes
£
£
Fixed assets
Tangible assets
13
2,232,475
Investments
14
9,341,450
11,573,925
Current assets
Debtors falling due within one year
16
286,645
Cash at bank and in hand
8,067,933
8,354,578
Creditors: amounts falling due within one year
17
(2,225,135)
Net current assets
6,129,443
Total assets less current liabilities
17,703,368
Provisions for liabilities
Deferred tax liability
20
317,323
(317,323)
Net assets excluding pension liability
17,386,045
Net assets
17,386,045
Capital and reserves
Called up share capital
22
1,000
Other reserves
5,999,102
Profit and loss reserves
11,385,943
Total equity
17,386,045

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the period was £11,501,843.

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

The financial statements were approved by the board of directors and authorised for issue on 24 April 2025 and are signed on its behalf by:
24 April 2025
J Malik
Director
Company registration number 14834765 (England and Wales)
PEHLWAN MALIK HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2022
1,000
4,207,472
4,208,472
Year ended 31 July 2023:
Profit and total comprehensive income
-
8,783,149
8,783,149
Dividends
12
-
(118,633)
(118,633)
Balance at 31 July 2023
1,000
12,871,988
12,872,988
Year ended 31 July 2024:
Profit and total comprehensive income
-
5,567,055
5,567,055
Dividends
12
-
(116,208)
(116,208)
Balance at 31 July 2024
1,000
18,322,835
18,323,835
PEHLWAN MALIK HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JULY 2024
- 11 -
Share capital
Merger reserve
Profit and loss reserves
Total
£
£
£
£
Period ended 31 July 2024
Profit and total comprehensive income
-
-
11,501,843
11,501,843
Issue of share capital
22
1,000
-
-
1,000
Dividends
12
-
-
(115,900)
(115,900)
Transfers
-
5,999,102
-
5,999,102
Balance at 31 July 2024
1,000
5,999,102
11,385,943
17,386,045
PEHLWAN MALIK HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2024
- 12 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
5,030,135
10,448,503
Interest paid
(88,460)
(46,591)
Income taxes paid
(1,291,914)
(501,004)
Net cash inflow from operating activities
3,649,761
9,900,908
Investing activities
Purchase of tangible fixed assets
(1,886,370)
(2,979,005)
Proceeds from disposal of tangible fixed assets
25,494
-
Sale of Investments
1,047,189
-
Purchase of investments
(3,829,732)
-
Movements in director loan balances
(183,937)
29,029
Interest received
535,615
104,582
Net cash used in investing activities
(4,291,741)
(2,845,394)
Financing activities
Raising of finance leases funding
330,360
1,474,310
Payment of finance leases obligations
(698,895)
(790,070)
Dividends paid to equity shareholders
(116,208)
(118,633)
Net cash (used in)/generated from financing activities
(484,743)
565,607
Net (decrease)/increase in cash and cash equivalents
(1,126,723)
7,621,121
Cash and cash equivalents at beginning of year
12,563,574
4,942,453
Cash and cash equivalents at end of year
11,436,851
12,563,574
Relating to:
Cash at bank and in hand
11,409,584
12,563,574
Short term deposits included in current asset investments
27,267
-
PEHLWAN MALIK HOLDINGS LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 JULY 2024
- 13 -
2024
Notes
£
£
Cash flows from operating activities
Cash generated by operations
24
12,899,442
Net cash inflow / (outflow) from operatig activities
12,899,442
Investing activities
Purchase of tangible fixed assets
(2,303,670)
Proceeds from disposal of tangible fixed assets
17,000
Saleof Investments
1,047,189
Purchase of investments
(3,829,732)
Interest received
380,871
Net cash used in investing activities
(4,688,342)
Financing activities
Dividends paid to equity shareholders
(115,900)
Net cash generated from / (used in) financing activities
(115,900)
Net (decrease) / increase in cash and cash equivalents
8,095,200
Cash and cash equivalents at beginning of year
-
0
Cash and cash equivalents at end of year
8,095,200
Relating to:
Cash at bank and in hand
8,067,933
Short term deposits included in current asset investments
27,267
PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 14 -
1
Accounting policies
Company information

Pehlwan Malik Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 66 Beeches Road, West Bromwich, B70 6HH.

 

The group consists of Pehlwan Malik Holdings Limited and all of its subsidiaries.

1.1
Accounting convention

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

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

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

1.2
Business combinations

Where a business combination is accounted for under merger accounting principles in accordance with FRS 102 Section 19.6 to 19.7 and merger relief under the Companies Act 2006 is applied, the assets and liabilities of the acquired entity are incorporated into the consolidated financial statements at their book values, as recorded in the acquiree’s accounts, rather than at fair value.

 

Under this method:

 

 

 

 

Transaction costs associated with the acquisition are expensed as incurred, except to the extent that they relate directly to the issue of equity instruments, in which case they are deducted from equity.

PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 15 -
1.3
Basis of consolidation

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

 

The parent company was incorporated 28 April 2023 and the financial information contained within these financial statements that refer to the 'Company' relate to a single period of account from 28 April 2023 through to 31 July 2024. The group accounts have been prepared as if the parent and group had always been in existence. The current year's figures represents the financial activities of the group for the twelve months ended 31 July 2024 and the comparative year's figures represents the financial activities of the group for the twelve months ended 31 July 2023.

 

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

 

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

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

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

 

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

 

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

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

1.5
Turnover

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

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

PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 16 -
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.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Plant and equipment
20% reducing balance
Fixtures and fittings
20% reducing balance
Computers
20% reducing balance
Motor vehicles
20% reducing balance

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

1.7
Fixed asset investments

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

 

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

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.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 17 -
1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible 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.

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
Cash and cash equivalents

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

1.10
Financial instruments

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

 

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

 

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

Basic financial assets

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

PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 18 -
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 group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, 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.

PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 19 -
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 group's contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

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

1.12
Taxation

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

Current tax

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

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 20 -
1.13
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.

1.14
Retirement benefits

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

1.15
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 balance sheet 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 leased asset are consumed.

2
Judgements and key sources of estimation uncertainty

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

 

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

Critical judgements

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

Residual values of fixed assets

The director has attributed no residual value to any of the company's assets on the basis that all vehicles are expected to be held until they are no longer fit for purposes (i.e. they are defunct).

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Passenger transport and related services
19,709,526
23,570,867
PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
3
Turnover and other revenue
(Continued)
- 21 -
2024
2023
£
£
Other revenue
Interest income
875,158
104,582
Dividends received
27,086
-
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
487,842
760,281
Profit on disposal of tangible fixed assets
(25,494)
-
Operating lease charges
30,683
27,339
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
-
-
Audit of the financial statements of the company's subsidiaries
30,000
-
6
Employees

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

Group
Company
2024
2023
2024
Number
Number
Number
454
174
1
Total
454
174
1
PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
6
Employees
(Continued)
- 22 -

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
£
£
£
Wages and salaries
3,559,251
1,211,400
5,379
Social security costs
55,032
23,226
-
Pension costs
73,537
5,760
60,000
3,687,820
1,240,386
65,379
7
Director's remuneration
2024
2023
£
£
Remuneration for qualifying services
9,221
40,832
Company pension contributions to defined contribution schemes
60,000
-
69,221
40,832
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
535,136
104,582
Other interest income
479
-
Total interest revenue
535,615
104,582
Other income from investments
Dividends received
27,086
-
Gains on financial instruments measured at fair value through profit or loss
339,543
-
Total income
902,244
104,582
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
535,136
104,582
Interest on financial assets measured at fair value through profit or loss
339,543
-
PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 23 -
9
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
1
-
Other finance costs:
Interest on finance leases and hire purchase contracts
88,459
46,591
Total finance costs
88,460
46,591
10
Amounts written off investments
2024
2023
£
£
Gain on disposal of investments held at fair value
164,526
-
11
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
1,605,840
2,451,525
Deferred tax
Origination and reversal of timing differences
369,194
-
Total tax charge
1,975,034
2,451,525

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

2024
2023
£
£
Profit before taxation
7,542,089
11,234,674
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
1,885,522
2,808,669
Tax effect of expenses that are not deductible in determining taxable profit
(296,273)
-
Permanent capital allowances in excess of depreciation
385,728
(357,144)
57
-
Taxation charge
1,975,034
2,451,525
PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 24 -
12
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Final paid
115,900
118,633
13
Tangible fixed assets
Group
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 August 2023
1,314,500
15,227
130,948
23,074
3,359,204
4,842,953
Additions
-
0
-
0
-
0
922
1,885,448
1,886,370
At 31 July 2024
1,314,500
15,227
130,948
23,996
5,244,652
6,729,323
Depreciation and impairment
At 1 August 2023
-
0
8,333
36,484
10,838
1,107,196
1,162,851
Depreciation charged in the year
-
0
-
0
-
0
-
0
487,842
487,842
At 31 July 2024
-
0
8,333
36,484
10,838
1,595,038
1,650,693
Carrying amount
At 31 July 2024
1,314,500
6,894
94,464
13,158
3,649,614
5,078,630
At 31 July 2023
1,314,500
6,894
94,464
12,236
2,252,008
3,680,102
Company
Freehold land and buildings
Motor vehicles
Total
£
£
£
Cost
Additions
1,306,007
997,663
2,303,670
Disposals
-
0
(11,205)
(11,205)
At 31 July 2024
1,306,007
986,458
2,292,465
Depreciation and impairment
Depreciation charged in the year
-
0
60,550
60,550
Eliminated in respect of disposals
-
0
(560)
(560)
At 31 July 2024
-
0
59,990
59,990
Carrying amount
At 31 July 2024
1,306,007
926,468
2,232,475
PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 25 -
14
Fixed asset investments
Group
Company
2024
2023
2024
Notes
£
£
£
Investments in subsidiaries
15
-
-
6,000,005
Unlisted investments
3,341,445
-
3,341,445
3,341,445
-
9,341,450
Movements in fixed asset investments
Group
Investments
£
Cost or valuation
At 1 August 2023
-
Additions
2,809,978
Valuation changes
531,467
At 31 July 2024
3,341,445
Carrying amount
At 31 July 2024
3,341,445
At 31 July 2023
-
Movements in fixed asset investments
Company
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
Additions
6,000,005
2,309,979
8,309,984
Valuation changes
-
531,467
531,467
-
499,999
499,999
At 31 July 2024
6,000,005
3,341,445
9,341,450
Carrying amount
At 31 July 2024
6,000,005
3,341,445
9,341,450
15
Subsidiaries

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

PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
15
Subsidiaries
(Continued)
- 26 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Green Destinations Ltd
386 Park Road, Hockley, Birmingham. West Midlands. England. B18 5ST
100%
0
Rozzii Ltd
386 Park Road, Hockley, Birmingham. West Midlands. England. B18 5ST
100%
0
Qaam Ltd
386 Park Road, Hockley, Birmingham. West Midlands. England. B18 5ST
100%
0
Aid Assist Limited
386 Park Road, Hockley, Birmingham. West Midlands. England. B18 5ST
100%
0

Green Destinations Limited's accounts for the period ended 31 July 2024 have been subject to statutory audit.

 

Rozzii Ltd's accounts for the period ended 31 July 2024 have not been subject to statutory audit. Pehlwan Malik Holdings Limited, as the parent undertaking of Rozzii Ltd, acknowledges its eligibility under section 479A of the Companies Act 2006 to provide a guarantee in respect of the subsidiary’s outstanding liabilities, enabling the subsidiary to claim exemption from audit for the financial period ending 31 July 2024.

 

Qaam Ltd's accounts for the period ended 31 July 2024 have not been subject to statutory audit. Pehlwan Malik Holdings Limited, as the parent undertaking of Qaam Ltd, acknowledges its eligibility under section 479A of the Companies Act 2006 to provide a guarantee in respect of the subsidiary’s outstanding liabilities, enabling the subsidiary to claim exemption from audit for the financial period ending 31 July 2024.

 

Aid Assist Limited's accounts for the period ended 31 July 2024 have not been subject to statutory audit.

16
Debtors
Group
Company
2024
2023
2024
Amounts falling due within one year:
£
£
£
Trade debtors
4,096,790
108,518
-
0
Amounts owed by group undertakings
-
-
201,722
Other debtors
320,113
26,177
84,923
Prepayments and accrued income
133,579
1,679,786
-
0
4,550,482
1,814,481
286,645
4,550,482
1,814,481
286,645
PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 27 -
17
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
Notes
£
£
£
Obligations under finance leases
19
683,457
585,316
-
0
Trade creditors
36,931
14,861
-
0
Amounts owed to group undertakings
-
-
558,381
Corporation tax payable
2,867,784
2,553,858
1,536,754
Other taxation and social security
1,305,850
1,073,056
-
Other creditors
77,601
2,196
-
0
Accruals and deferred income
227,609
1,326
130,000
5,199,232
4,230,613
2,225,135
18
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Obligations under finance leases
19
259,998
726,674
-
0
-
0
19
Finance lease obligations
Group
Company
2024
2023
2024
£
£
£
Future minimum lease payments due under finance leases:
Within one year
683,457
585,316
-
0
In two to five years
259,998
726,674
-
0
943,455
1,311,990
-
943,455
1,311,990
-
0

Finance lease payments represent rentals payable by the company or group 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 three years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 28 -
20
Deferred taxation

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

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
503,447
227,882
Retirement benefit obligations
(417)
-
Investments
94,046
-
597,076
227,882
Liabilities
Liabilities
2024
2023
Company
£
£
Accelerated capital allowances
223,277
-
Investments
94,046
-
317,323
-
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 August 2023
227,882
-
Charge to profit or loss
369,194
317,323
Liability at 31 July 2024
597,076
317,323
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
73,537
5,760

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

PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 29 -
22
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1,000
1,000
1,000
1,000
23
Cash generated from group operations
2024
2023
£
£
Profit for the year after tax
5,567,055
8,783,149
Adjustments for:
Taxation charged
1,975,034
2,451,525
Finance costs
88,460
46,591
Investment income
(902,244)
(104,582)
Gain on disposal of tangible fixed assets
(25,494)
-
Depreciation and impairment of tangible fixed assets
487,842
760,281
Other gains and losses
(164,526)
-
Movements in working capital:
Increase in debtors
(2,552,064)
(1,815,181)
Increase in creditors
556,072
326,720
Cash generated from operations
5,030,135
10,448,503
24
Cash generated from/(absorbed by) operations - company
2024
£
Profit for the year after tax
11,501,843
Adjustments for:
Taxation charged
1,854,077
Finance costs
1
Investment income
(747,500)
Gain on disposal of tangible fixed assets
(6,355)
Depreciation and impairment of tangible fixed assets
60,550
Other gains and losses
(164,526)
Movements in working capital:
Increase in debtors
(286,645)
Increase in creditors
687,997
Cash generated from/(absorbed by) operations
12,899,442
PEHLWAN MALIK HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 30 -
25
Analysis of changes in net funds - group
1 August 2023
Cash flows
31 July 2024
£
£
£
Cash and cash equivalents
12,563,574
(1,126,723)
11,436,851
Obligations under finance leases
(1,311,990)
368,535
(943,455)
11,251,584
(758,188)
10,493,396
26
Analysis of changes in net funds - company
1 August 2023
Cash flows
31 July 2024
£
£
£
Cash and cash equivalents
-
8,095,200
8,095,200
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