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REGISTERED NUMBER: 00206159 (England and Wales)















Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 July 2024

for

LECK GROUP LIMITED

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Contents of the Consolidated Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


LECK GROUP LIMITED

Company Information
for the Year Ended 31 July 2024







Directors: D R Barker
V Barker
C M Barker



Secretary: D R Barker



Registered office: Leck House
80 Deansgate Lane
Timperley
Altrincham
Cheshire
WA14 1SP



Registered number: 00206159 (England and Wales)



Auditors: CLA Evelyn Partners Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN



Bankers: National Westminister Bank plc
PO Box No 305
Spring Gardens
Manchester
M60 2DB

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Group Strategic Report
for the Year Ended 31 July 2024


The directors present their strategic report of the company and the group for the year ended 31 July 2024.

The principal activity of Leck Group Limited is the holding company for its subsidiary companies. The principal activities of the subsidiary companies continued to be that of building contractors, property developers and investment in property.

Review of business
The company's turnover has increased by 13.04% from the previous year which is due to an uptake of new projects and an increase in trade with existing contractors. The gross profit margin has also decreased from 20.13% to 15.34% due to higher start up costs in relation to the new projects. Admin expenses have decreased by 6.48%, primarily due to a reduction to the payroll expenses and management charges in response to a reduction gross profit margin.

The Directors are satisfied with figures achieved during the period.

Principal risks and uncertainties
Due to the nature of the industry safety, health and environmental issues are ever changing. Accordingly the health and safety of our employees and third parties is our priority. Financial and commercial risks are a continual issue for the industry. Competitive pricing is keener than ever making it difficult to pass on cost increases in material and labour. The board continually review these risks and have policies in place to manage them.

Key performance indicators
The company's key financial and other performance indicators during the year were as follows:

Category Unit 2024 2023
Sales £ 15,996,452 14,151,586
Gross profit £ 2,454,986 2,848,275
Gross margin % 15.34 20.13


On behalf of the board:





D R Barker - Director


31 March 2025

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Report of the Directors
for the Year Ended 31 July 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 July 2024.

Principal activities
Leck Group Limited is the holding company for its subsidiary companies. The principal activities of the subsidiary companies continued to be that of building contractors, property developers and investment in property.

Dividends
A dividend of £211,889 has been paid during the year.

Future developments
As for many businesses of our size, the environment in which the group and company operates continues to be challenging. The industry is subject to constraint on spending partly brought about by the uncertainty in the British economy and partly by other factors. With these risks and uncertainties in mind the directors are aware that any plans for future development of the group and company may be subject to unforeseen future events outside of their control. Nevertheless, the directors consider that the group is well placed to sustain the current level of activity in the foreseeable future.

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

D R Barker
V Barker
C M Barker

Financial instruments
The business' principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. All of the business' cash balances are held in such a way that achieves a competitive rate of interest.

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

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

Retirement of directors
In accordance with the Articles of Association DR Barker retires by rotation, and being eligible, offers himself for re-election.

Statement of directors' responsibilities
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

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


LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Report of the Directors
for the Year Ended 31 July 2024

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

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

On behalf of the board:





D R Barker - Director


31 March 2025

Report of the Independent Auditors to the Members of
Leck Group Limited


Opinion
We have audited the financial statements of Leck Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 July 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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

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

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

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

Other information
The other information comprises the information included in the report of the directors, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the report of the directors. 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 the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Leck Group Limited


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

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

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

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

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

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:

- Identifying and assessing the design and effectiveness of controls that management have in place to prevent and detect fraud;
- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process.
- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Reading key correspondence with external legal advisors;
- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations and unusual words; and
- Challenging assumptions and judgements made by management in their significant accounting estimates, in particular those relating to the valuation of amounts recoverable on contract, contract accruals and investment properties.

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

Report of the Independent Auditors to the Members of
Leck Group Limited


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




Angela Chorlton FCA (Senior Statutory Auditor)
for and on behalf of CLA Evelyn Partners Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

31 March 2025

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Consolidated
Statement of Comprehensive
Income
for the Year Ended 31 July 2024

2024 2023
Notes £    £   

Turnover 4 15,996,452 14,151,586

Cost of sales (13,541,466 ) (11,303,311 )
Gross profit 2,454,986 2,848,275

Administrative expenses (2,497,266 ) (2,670,213 )
(42,280 ) 178,062

Other operating income 651,031 548,461
Operating profit 6 608,751 726,523

Income from fixed asset investments 2,583 3,511
Interest receivable and similar income 167,626 15,471
Profit before taxation 778,960 745,505

Tax on profit 7 (143,618 ) (14,917 )
Profit for the financial year 635,342 730,588

Other comprehensive income
Share buy-back - (95,779 )
Income tax relating to other comprehensive
income

-

-
Other comprehensive income for the year,
net of income tax

-

(95,779

)
Total comprehensive income for the year 635,342 634,809

Profit attributable to:
Owners of the parent 635,342 730,588

Total comprehensive income attributable to:
Owners of the parent 635,342 634,809

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Consolidated Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 10 449,726 454,781
Investments 11 58,569 47,153
Investment property 12 5,695,713 4,901,800
6,204,008 5,403,734

Current assets
Stocks 13 22,502 981,412
Debtors 14 3,789,195 2,108,749
Investments 15 6,709 6,709
Cash at bank and in hand 5,844,489 5,629,709
9,662,895 8,726,579
Creditors
Amounts falling due within one year 16 4,435,649 3,110,700
Net current assets 5,227,246 5,615,879
Total assets less current liabilities 11,431,254 11,019,613

Creditors
Amounts falling due after more than one
year

17

(90,830

)

(116,857

)

Provisions for liabilities 18 (379,404 ) (365,189 )
Net assets 10,961,020 10,537,567

Capital and reserves
Called up share capital 19 52,491 52,491
Other reserves 20 64,646 64,646
Fair value reserve 20 2,416,793 2,221,376
Retained earnings 20 8,427,090 8,199,054
Shareholders' funds 10,961,020 10,537,567

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





D R Barker - Director


LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Company Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 10 - -
Investments 11 224,768 213,352
Investment property 12 - -
224,768 213,352

Current assets
Debtors 14 2,508,358 3,382,926
Cash at bank 5,358,105 5,036,601
7,866,463 8,419,527
Creditors
Amounts falling due within one year 16 306,241 1,024,140
Net current assets 7,560,222 7,395,387
Total assets less current liabilities 7,784,990 7,608,739

Provisions for liabilities 18 5,500 3,200
Net assets 7,779,490 7,605,539

Capital and reserves
Called up share capital 19 52,491 52,491
Other reserves 20 66,508 66,508
Fair value reserve 20 26,918 19,896
Retained earnings 20 7,633,573 7,466,644
Shareholders' funds 7,779,490 7,605,539

Company's profit for the financial year 385,840 705,931

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





D R Barker - Director


LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Consolidated Statement of Changes in Equity
for the Year Ended 31 July 2024

Called up Fair
share Retained Other value Total
capital earnings reserves reserve equity
£    £    £    £    £   
Balance at 1 August 2022 52,972 7,944,184 64,165 2,053,807 10,115,128

Changes in equity
Reduction in share capital (481 ) - - - (481 )
Dividends - (211,889 ) - - (211,889 )
Total comprehensive income - 466,759 481 167,569 634,809
Balance at 31 July 2023 52,491 8,199,054 64,646 2,221,376 10,537,567

Changes in equity
Dividends - (211,889 ) - - (211,889 )
Total comprehensive income - 439,925 - 195,417 635,342
Balance at 31 July 2024 52,491 8,427,090 64,646 2,416,793 10,961,020

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Company Statement of Changes in Equity
for the Year Ended 31 July 2024

Called up Fair
share Retained Other value Total
capital earnings reserves reserve equity
£    £    £    £    £   
Balance at 1 August 2022 52,972 7,071,431 66,027 17,327 7,207,757

Changes in equity
Reduction in share capital (481 ) - - - (481 )
Dividends - (211,889 ) - - (211,889 )
Total comprehensive income - 607,102 481 2,569 610,152
Balance at 31 July 2023 52,491 7,466,644 66,508 19,896 7,605,539

Changes in equity
Dividends - (211,889 ) - - (211,889 )
Total comprehensive income - 378,818 - 7,022 385,840
Balance at 31 July 2024 52,491 7,633,573 66,508 26,918 7,779,490

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Consolidated Cash Flow Statement
for the Year Ended 31 July 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 434,150 2,027,963
Tax paid (42,285 ) (371,283 )
Net cash from operating activities 391,865 1,656,680

Cash flows from investing activities
Purchase of tangible fixed assets (134,434 ) (224,077 )
Purchase of fixed asset investments (2,094 ) (1,692 )
Purchase of investment property - (135,000 )
Sale of tangible fixed assets 852 12,525
Interest received 167,626 15,471
Dividends received 2,583 3,511
Net cash from investing activities 34,533 (329,262 )

Cash flows from financing activities
Amount introduced by directors 271 (2,400 )
Share buyback - (96,260 )
Equity dividends paid (211,889 ) (211,889 )
Net cash from financing activities (211,618 ) (310,549 )

Increase in cash and cash equivalents 214,780 1,016,869
Cash and cash equivalents at beginning
of year

2

5,629,709

4,612,840

Cash and cash equivalents at end of year 2 5,844,489 5,629,709

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 July 2024


1. Reconciliation of profit before taxation to cash generated from operations

2024 2023
£    £   
Profit before taxation 778,960 745,505
Depreciation charges 139,273 134,442
Profit on disposal of fixed assets (635 ) (7,766 )
Fair value adjustment (217,217 ) (188,469 )
Finance income (170,209 ) (18,982 )
530,172 664,730
Decrease in stocks 372,892 633,167
(Increase)/decrease in trade and other debtors (1,767,835 ) 2,876,529
Increase/(decrease) in trade and other creditors 1,298,921 (2,146,463 )
Cash generated from operations 434,150 2,027,963

2. Cash and cash equivalents

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

Year ended 31 July 2024
31/7/24 1/8/23
£    £   
Cash and cash equivalents 5,844,489 5,629,709
Year ended 31 July 2023
31/7/23 1/8/22
£    £   
Cash and cash equivalents 5,629,709 4,612,840


3. Analysis of changes in net funds

At 1/8/23 Cash flow At 31/7/24
£    £    £   
Net cash
Cash at bank and in hand 5,629,709 214,780 5,844,489
5,629,709 214,780 5,844,489

Liquid resources
Current asset investments 6,709 - 6,709
6,709 - 6,709
Total 5,636,418 214,780 5,851,198

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements
for the Year Ended 31 July 2024


1. Statutory information

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

2. Statement of compliance

The Group and individual financial statements of Leck Group Limited have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102, ‘‘The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’’ (‘‘FRS 102’’) and the Companies Act 2006.

3. Accounting policies

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

Basis of consolidation
The group financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 July 2024.
Subsidiary undertakings are included using the acquisitions method of accounting. Under this method the group profit and loss account and statement of cashflows include the results and cashflows of subsidiaries from the date of acquisition and to the date of sale outside the group in the case of disposals of subsidiaries. The purchase consideration has been allocated to the assets and liabilities on the basis of fair value at the date of acquisition.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are not considered to be any critical judgements in applying the company's accounting policies.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets or liabilities within the next financial year are addressed below.

(i) Provisions

Provision is made for work which has been undertaken by sub-contractors during the year but not invoiced at the year end. This provision requires management's best estimate of these costs.

(ii) Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in market value is charged or credited to the profit and loss account and then transferred to a non-distributable reserve, net of any deferred tax. The fair value of the investment property is calculated from reviewing market data available and looking at yields of similar properties and adjusting accordingly to reflect the condition of the properties.

Although this accounting policy is in accordance with FRS 102 it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view.

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


3. Accounting policies - continued

Turnover
Turnover comprises completed sales and the value of contracting work performed which includes attributable profit in respect of long term contracts.

Profit is recognised on long-term contracts if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related cost as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost or valuation
Plant and machinery - 20% straight line and 20% on reducing balance
Motor vehicles - 33% on reducing balance and 25% on reducing balance

Freehold land and buildings are stated at deemed cost for assets held at the date of transition to FRS102 less accumulated depreciation and accumulated impairment losses.

Stocks
Stocks of raw materials and land for resale are valued at the lower of cost and net realisable value.

Developments included in stock are valued at the lower of direct cost and net realisable value and after deducting progress payments received.

Net realisable value is based on estimated selling price, less further costs expected to be incurred to completion and disposal. Provision is made for obsolete, slow moving or defective items where appropriate.

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

Current or deferred taxation assets and liabilities are not discounted.

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

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

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

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

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

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

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

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


3. Accounting policies - continued

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

Investments
Investments are stated at fair value, with the exception of subsidiary companies which are stated at cost less provisions.

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

Financial instruments
The group has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

There are no assets which are initially measured at fair value.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and loans from fellow group companies 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 receipts discounted at a market rate of interest.

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

Other income
Other income comprises rents receivable, net of VAT and fair value adjustments of investments. Rent receivable is recognised equally over the lease term.

Provisions
Provisions are recognised when there is a present obligation as a result of a past event, where the settlement through an outflow of resources is probable and the amount can be estimated reliably.

4. Turnover

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

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

2024 2023
£    £   
Construction services 15,316,412 11,404,343
Sale of development properties 680,040 2,747,243
15,996,452 14,151,586

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


5. Employees and directors
2024 2023
£    £   
Wages and salaries 3,366,929 3,157,932
Social security costs 378,169 357,807
Other pension costs 155,171 268,643
3,900,269 3,784,382

The average number of employees during the year was as follows:
2024 2023

Office and management 24 26
Construction 53 53
77 79

2024 2023
£    £   
Directors' remuneration 205,350 135,226
Directors' pension contributions to money purchase schemes 56,000 46,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

Information regarding the highest paid director for the year ended 31 July 2024 is as follows:
2024
£   
Emoluments etc 117,033

6. Operating profit

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Purchases - Plant hire 403,673 500,005
Depreciation - owned assets 139,272 134,442
Profit on disposal of fixed assets (635 ) (7,766 )
Auditors' remuneration 30,790 34,757
Other non- audit services 1,500 1,500
Income from other investments (listed) (2,094 ) (1,693 )
Rent receivable (371,141 ) (351,108 )
Fair value adjustment (217,217 ) (188,468 )

The audit fee related to the audit of the individual company is £7,000 (2023: 6750).

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


7. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 129,403 70,209
(Over)/under provision PY - (97,278 )
Total current tax 129,403 (27,069 )

Deferred tax 14,215 41,986
Tax on profit 143,618 14,917

UK corporation tax has been charged at 25 % (2023 - 21.01 %).

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

2024 2023
£    £   
Profit before tax 778,960 745,505
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 21.010 %)

194,740

156,631

Effects of:
Expenses not deductible for tax purposes 1,471 14,796
Income not taxable for tax purposes (24,572 ) (39,188 )
Capital allowances in excess of depreciation - (21,525 )
Depreciation in excess of capital allowances 9,896 -
(Profit)/loss on disposal of fixed asset (159 ) (1,632 )

Deferred tax 14,215 41,986
Fair value adjustment (51,973 ) (38,873 )
Research and development credit - (97,278 )
Total tax charge 143,618 14,917

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 July 2024.

2023
Gross Tax Net
£    £    £   
Share buy-back (95,779 ) - (95,779 )

8. Individual statement of comprehensive income

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


LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


9. Dividends
2024 2023
£    £   
Ordinary shares of £0.05 each
Interim 211,889 211,889

10. Tangible fixed assets

Group
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Cost or valuation
At 1 August 2023 90,071 474,350 481,108 1,045,529
Additions - 32,665 101,769 134,434
Disposals - - (6,750 ) (6,750 )
At 31 July 2024 90,071 507,015 576,127 1,173,213
Depreciation
At 1 August 2023 55,009 237,796 297,943 590,748
Charge for year 1,710 54,611 82,951 139,272
Eliminated on disposal - - (6,533 ) (6,533 )
At 31 July 2024 56,719 292,407 374,361 723,487
Net book value
At 31 July 2024 33,352 214,608 201,766 449,726
At 31 July 2023 35,062 236,554 183,165 454,781

Cost or valuation at 31 July 2024 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Valuation in 1976 16,405 - - 16,405
Cost 73,666 507,015 576,127 1,156,808
90,071 507,015 576,127 1,173,213

If freehold properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 73,666 73,666
Aggregate depreciation 34,937 34,937

Certain freehold properties were valued on an open market basis on 31 July 1976 by professional valuers .

The group applied the transitional arrangements of Section 35 of FRS 102 and used a previous valuation as the deemed cost for certain freehold properties. The properties are being depreciated from valuation date.

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


11. Fixed asset investments

Group
Listed Unlisted
investments investments Totals
£    £    £   
Cost or valuation
At 1 August 2023 45,924 3,293 49,217
Additions 2,094 - 2,094
Fair value adjustment 9,322 - 9,322
At 31 July 2024 57,340 3,293 60,633
Provisions
At 1 August 2023
and 31 July 2024 - 2,064 2,064
Net book value
At 31 July 2024 57,340 1,229 58,569
At 31 July 2023 45,924 1,229 47,153

Cost or valuation at 31 July 2024 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 2024 32,441 - 32,441
Cost 24,899 3,293 28,192
57,340 3,293 60,633

Listed investments are financial assets measured at fair value through profit and loss. The fair value was determined by reference to the share prices as at 31 July 2024. Unlisted investments are included at cost less impairment as this is not materially different from the fair value.
Company
Shares in
group Listed Unlisted
undertakings investments investments Totals
£    £    £    £   
Cost or valuation
At 1 August 2023 284,808 45,924 2,064 332,796
Additions - 2,094 - 2,094
Fair value adjustment - 9,322 - 9,322
At 31 July 2024 284,808 57,340 2,064 344,212
Provisions
At 1 August 2023
and 31 July 2024 117,380 - 2,064 119,444
Net book value
At 31 July 2024 167,428 57,340 - 224,768
At 31 July 2023 167,428 45,924 - 213,352

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


11. Fixed asset investments - continued

Company

Cost or valuation at 31 July 2024 is represented by:

Shares in
group Listed Unlisted
undertakings investments investments Totals
£    £    £    £   
Valuation in 2024 - 32,441 - 32,441
Cost 284,808 24,899 2,064 311,771
284,808 57,340 2,064 344,212

Listed investments are financial assets measured at fair value through profit and loss. The fair value was determined by reference to the share prices as at 31 July 2024. Unlisted investments are included at cost less impairment as this is not materially different from the fair value.

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

Subsidiaries

Leck Construction Limited
Registered office: Ironworks Road, Barrow In Furness, LA14 2PQ
Nature of business: Building contractors and property developers
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 809,856 763,216
Profit for the year 296,640 357,678

J A Payne Limited
Registered office: 80 Deansgate Lane, Timperley, Altrincham, Cheshire, WA14 1SP
Nature of business: Investment in property and property developers
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 2,469,386 2,266,524
Profit for the year 352,862 266,979

Thirlcrest Limited
Registered office: 80 Deansgate Lane, Timperley, Altrincham, Cheshire, WA14 1SP
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 8,250 8,250

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


11. Fixed asset investments - continued

Handforce Limited
Registered office: 80 Deansgate Lane, Timperley, Altrincham, Cheshire, WA14 1SP
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (38,337 ) (38,337 )

John Westall Limited
Registered office: 80 Deansgate Lane, Timperley, Altrincham, Cheshire, WA14 1SP
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 68,414 68,414

Chaddock Homes Limited
Registered office: 80 Deansgate Lane, Timperley, Altrincham, Cheshire, WA14 1SP
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 100 100


12. Investment property

Group
Total
£   
Fair value
At 1 August 2023 4,901,800
Fair value adjustment 207,895
Reclassification/transfer 586,018
At 31 July 2024 5,695,713
Net book value
At 31 July 2024 5,695,713
At 31 July 2023 4,901,800

The transfer was in regards to a development property, and the associated land, being transferred from stock.

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


12. Investment property - continued

Group

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2024 2,412,522
Cost 3,283,191
5,695,713

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 3,283,191 2,697,173
Aggregate depreciation (22,539 ) (22,539 )

Investment properties were valued on an open market basis on 31 July 2024 by the directors .

Investment properties consist of freehold property £4,929,800 (2023 - £4,194,800) and long leasehold property £765,913 (2023 - £707,000).

13. Stocks

Group
2024 2023
£    £   
Raw materials 1,859 1,859
Developments - 816,237
Land 20,643 163,316
22,502 981,412

14. Debtors

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 16,469 42,702 - -
Amounts owed by group undertakings - - 2,310,177 3,379,950
Amounts recoverable on
contracts 2,657,600 1,782,732 - -
Other debtors 404,820 28,750 - -
Directors' current accounts 2,400 2,671 2,400 2,671
Tax 20,954 108,072 - -
VAT - - 121 305
Prepayments and accrued income 410,852 49,092 - -
3,513,095 2,014,019 2,312,698 3,382,926

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


14. Debtors - continued

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings - - 195,660 -
Amounts recoverable on contract 276,100 94,730 - -
276,100 94,730 195,660 -

Aggregate amounts 3,789,195 2,108,749 2,508,358 3,382,926

Trade debtors are stated after provisions for bad debts of £9,254 (2023 -£9,034).

15. Current asset investments

Group
2024 2023
£    £   
Other investments 6,709 6,709

Investments consist of cash deposits with financial institutions.

16. Creditors: amounts falling due within one year

Group Company
2024 2023 2024 2023
£    £    £    £   
Payments on account 14,118 5,564 - -
Trade creditors 2,115,912 1,387,300 - -
Amounts owed to group undertakings - - 102,444 815,068
Corporation tax - - - 14,744
Social security and other taxes 106,229 107,099 14,281 16,734
VAT 202,704 165,145 - -
Other creditors 683,844 639,621 93,775 91,628
Wages control 9,450 9,941 - -
Accruals and deferred income 1,303,392 796,030 95,741 85,966
4,435,649 3,110,700 306,241 1,024,140

Included in trade creditors at year end are contract provisions of £820,944 (2023 - £340,506).

17. Creditors: amounts falling due after more than one year

Group
2024 2023
£    £   
Accruals and deferred income 90,830 116,857

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


18. Provisions for liabilities

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax
Fair value adjustments 282,500 262,200 5,500 3,200
Other timing differences 59,144 65,229 - -
341,644 327,429 5,500 3,200

Other provisions 37,760 37,760 - -

Aggregate amounts 379,404 365,189 5,500 3,200

Group
Deferred Other
tax provisions
£    £   
Balance at 1 August 2023 327,429 37,760
Provided during year 14,215 -
Balance at 31 July 2024 341,644 37,760

Company
Deferred
tax
£   
Balance at 1 August 2023 3,200
Charge to Income Statement during year 2,300
Balance at 31 July 2024 5,500

Other provisions represent the estimated cost of completing a road prior to adoption by the local authority.

19. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,049,817 Ordinary £0.05 52,491 52,491

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


20. Reserves

Group
Fair
Retained Other value
earnings reserves reserve Totals
£    £    £    £   

At 1 August 2023 8,199,054 64,646 2,221,376 10,485,076
Profit for the year 635,342 - - 635,342
Dividends (211,889 ) - - (211,889 )
Fair value transfer (217,217 ) - 217,217 -
Deferred tax 21,800 - (21,800 ) -
At 31 July 2024 8,427,090 64,646 2,416,793 10,908,529

Company
Fair
Retained Other value
earnings reserves reserve Totals
£    £    £    £   

At 1 August 2023 7,466,644 66,508 19,896 7,553,048
Profit for the year 385,840 - - 385,840
Dividends (211,889 ) - - (211,889 )
Fair value transfer (9,322 ) - 9,322 -
Deferred tax 2,300 - (2,300 ) -
At 31 July 2024 7,633,573 66,508 26,918 7,726,999

Group

The other reserves relates to:
Capital redemption reserve

£
Balance at 1 August 2023 and 31 July 2024 62,508

Discount arising on acquisition of subsidiary
£
Balance at 1 August 2023 and 31 July 2024 2,138
The cumulative amount of goodwill written off amounts to £81,103 (2023 - £81,103).

Company

The other reserves relates to:
Capital redemption reserve

£
Balance at 1 August 2023 and 31 July 2024 62,508

Acquisition reserve arising from allotment of shares under Section 131 Companies Act 1985
£
Balance at 1 August 2023 and 31 July 2024 4,000

LECK GROUP LIMITED (REGISTERED NUMBER: 00206159)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024


21. Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amount to £203,417 (2023: £268,643).

Contributions totalling £93,671 (2023: £291,661) were payable to the fund at the balance sheet date.

22. Contingent liabilities

The group has contingent liabilities in respect of contract bonds which at 31 July 2024 amounted to £136,392 (2023: £296,438).

23. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31July 2024 and 31 July 2023:
2024 2023
£    £   
Balance outstanding at the start of year 2,671 271
Amounts advanced - 2,400
Amounts repaid (271 ) -
Balance outstanding at the end of the year 2,400 2,671

The above loan is interest free and repayable on demand.

During the year the directors received dividends of £209,578 (2023 - £209,578).

24. Related party disclosures

Key Management Personnel are considered to be the directors of the company and their remuneration is disclosed in note 5.

25. Ultimate controlling party

The company is controlled by V and C M Barker, both of whom are directors of the company, and who own 89% of the share capital.