Mabway Limited |
Registered number: 05136214 |
Directors' Report |
|
The directors present their report and accounts for the year ended 30 September 2024. |
|
Principal activities |
The company's principal activity during the year was training support and delivery, manpower services and logistics. |
|
Dividends |
The directors do not recommend a final dividend. |
|
Directors |
The following persons served as directors during the year: |
|
|
Mrs A T O'Reilly (resigned 31 May 2024) |
|
Mr M S M O'Reilly (resigned 9 May; reappointed 31 May 2024) |
|
Mr C Money (resigned 9 May 2024) |
|
Mr J H M Cushnir (resigned 9 May 2024) |
|
Mr J M R O'Reilly (resigned 9 May 2024) |
|
Mr R J Thomson (resigned 9 May 2024) |
|
Mr K Ford (appointed 9 May 2024) |
|
Directors' responsibilities |
The directors are responsible for preparing the directors' report, strategic report and accounts in accordance with applicable law and regulations. |
|
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to: |
● |
select suitable accounting policies and then apply them consistently; |
● |
make judgements and estimates that are reasonable and prudent; |
● |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; |
● |
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
|
|
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 accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts 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 accounts, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
|
Other information |
The other information comprises the information included in the annual report other than the accounts and our auditors' report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the accounts 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 accounts 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 accounts 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. |
|
Opinion 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 strategic report and the directors' report for the financial year for which the accounts are prepared is consistent with the accounts; and |
● |
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements. |
|
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: |
|
Extent to which the audit was considered capable of detecting irregularities, including fraud |
The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the accounts due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. |
|
Our approach was as follows: |
● |
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the accounts from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations; |
● |
We considered the legal and regulatory frameworks directly applicable to the accounts reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK; |
● |
We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration; |
● |
We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit; |
● |
We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls. |
|
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the accounts were free from fraud or error. |
|
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the accounts, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the accounts, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. |
|
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditors-responsibilities-for-the-audit/. This description forms part of our auditor’s report. |
|
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. |
|
|
James Blake FCA (Senior Statutory Auditor) |
for and on behalf of TC Group |
|
Statutory Auditor |
29 April 2025 |
|
Mabway Limited |
Statement of Cash Flows |
for the year ended 30 September 2024 |
|
|
|
|
2024 |
|
2023 |
£ |
£ |
Operating activities |
Profit for the financial year |
5,153,225 |
|
2,905,730 |
|
Adjustments for: |
Interest receivable |
(88,885) |
|
(11,576) |
Interest payable |
2,264 |
|
3,217 |
Tax on profit on ordinary activities |
1,806,842 |
|
858,980 |
Depreciation |
323,992 |
|
312,360 |
Loss on disposal of tangible fixed assets |
55,390 |
|
6,771 |
Decrease/(increase) in debtors |
421,997 |
|
(737,583) |
(Decrease)/increase in creditors |
(55,715) |
|
955,794 |
|
|
|
7,619,110 |
|
4,293,693 |
|
Interest received |
88,885 |
|
11,576 |
Interest paid |
|
|
- |
|
(1,647) |
Interest element of finance lease payments |
(2,264) |
|
(1,570) |
Corporation tax paid |
(1,383,003) |
|
(979,914) |
|
Cash generated by operating activities |
6,322,728 |
|
3,322,138 |
|
|
|
|
|
|
Investing activities |
Payments to acquire tangible fixed assets |
(232,713) |
|
(766,833) |
Proceeds from sale of tangible fixed assets |
38,390 |
|
21,361 |
|
Cash used in investing activities |
(194,323) |
|
(745,472) |
|
|
|
|
|
|
Financing activities |
Equity dividends paid |
(5,078,883) |
|
(4,703,226) |
Proceeds from the issue of shares |
- |
|
7,250 |
Capital element of finance lease payments |
(38,124) |
|
(8,059) |
|
Cash used in financing activities |
(5,117,007) |
|
(4,704,035) |
|
|
|
|
|
|
Net cash generated/(used) |
Cash generated by operating activities |
6,322,728 |
|
3,322,138 |
Cash used in investing activities |
(194,323) |
|
(745,472) |
Cash used in financing activities |
(5,117,007) |
|
(4,704,035) |
|
Net cash generated/(used) |
1,011,398 |
|
(2,127,369) |
|
Cash and cash equivalents at 1 October |
3,503,772 |
|
5,631,141 |
Cash and cash equivalents at 30 September |
4,515,170 |
|
3,503,772 |
|
|
|
|
|
|
Cash and cash equivalents comprise: |
Cash at bank and in hand |
4,515,170 |
|
3,503,772 |
|
|
|
|
|
|
The notes on pages 11 to 20 form part of these accounts. |
|
Mabway Limited |
Notes to the Accounts |
for the year ended 30 September 2024 |
|
|
1 |
Company information |
|
|
Mabway Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Ralls House, Parklands Business Park, Forest Road, Denmead, Waterlooville, Hants, PO7 6XP. The company's principal place of business is Denvilles House, 33 Emsworth Road, Havant, Hants, PO9 2SN. |
|
|
The company's principal activity during the year was training support and delivery, manpower services and logistics. |
|
|
2 |
Accounting policies |
|
|
The principal accounting policies adopted in the preparation of the accounts are set out below; they have remained unchanged from the previous period and have been consistently applied: |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland. There have been no material departures from that standard. |
|
|
Turnover |
|
Turnover represents amounts recoverable from customers for services provided during the year. Turnover is measured at the fair value of the consideration received or receivable, net of VAT. The company often enters into customer contracts to supply specified services, which require the company to perform its services over a period of time. Turnover is recognised in the period in which the services are delivered to customers by reference to the stage of completion of the underlying contract deliverables, and is assessed on the basis of the actual services provided in the period as a proportion of the total services to be provided. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Leasehold buildings (with formal lease) |
over the lease term |
|
Leasehold buildings (without formal lease) |
20% straight line |
|
Plant and machinery |
20-33% straight line |
|
Motor vehicles |
25% straight line |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
Judgements and key sources of estimation uncertainty |
|
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. In accordance with the company's turnover accounting policy, the company assesses the revenue to be recognised on customer contracts by reference to the stage of completion of the underlying contract deliverables, assessed with consideration of the costs incurred to date, as a proportion of the total costs expected to be incurred to completion. The excess or deficit of revenue to be recognised over the amounts which have been invoiced, is recognised in accrued or deferred income respectively. Such an assessment of revenue requires management to estimate the costs expected to be incurred in delivering each contract to completion, and is therefore exposed to a degree of estimation uncertainty from which variances may arise where actual contract costs differ from expected contract costs. |
|
|
3 |
Analysis of turnover |
2024 |
|
2023 |
£ |
£ |
|
By activity: |
|
Training support and delivery |
21,712,478 |
|
16,536,957 |
|
|
|
|
|
|
|
|
|
|
By geographical market: |
|
UK |
20,735,015 |
|
16,536,957 |
|
Asia |
977,463 |
|
- |
|
|
|
|
|
|
21,712,478 |
|
16,536,957 |
|
|
|
|
|
|
|
|
|
|
4 |
Operating profit |
2024 |
|
2023 |
£ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
323,992 |
|
291,770 |
|
Depreciation of assets held under finance leases and hire purchase contracts |
|
- |
|
20,590 |
|
Loss on disposal of tangible fixed assets |
|
55,390 |
|
6,771 |
|
Operating lease rentals - land buildings |
47,261 |
|
43,755 |
|
Auditors' remuneration for audit services |
10,000 |
|
16,000 |
|
Key management personnel compensation (including directors' emoluments) |
|
379,866 |
|
92,130 |
|
Net back-taxes and interest per voluntary disclosure to HMRC (see note below) |
|
- |
|
753,951 |
|
|
|
|
|
|
|
|
|
|
Having taken independent legal advice, it was determined that certain historical dividends paid to employees should have been treated as remuneration and been subject to PAYE and National Insurance. The company calculated £753,951 of taxes and interest payable, which was included within the previous year's financial statements within Accruals and Administrative expenses. During the year ended 30 September 2024 the company has made payments to HM Revenue & Customs of the PAYE and National Insurance accordingly. |
|
|
5 |
Directors' emoluments |
2024 |
|
2023 |
£ |
£ |
|
|
Emoluments |
298,916 |
|
42,635 |
|
Company contributions to money purchase pension schemes |
80,950 |
|
49,495 |
|
|
|
|
|
|
379,866 |
|
92,130 |
|
|
|
|
|
|
|
|
|
|
|
Number of directors in company pension schemes: |
2024 |
|
2023 |
Number |
Number |
|
|
Money purchase schemes |
5 |
|
4 |
|
|
|
|
|
|
|
|
|
|
The Directors are considered to be the key management personnel. |
|
|
6 |
Staff costs |
2024 |
|
2023 |
£ |
£ |
|
|
Wages and salaries |
8,505,721 |
|
8,209,696 |
|
Social security costs |
766,907 |
|
733,980 |
|
Other pension costs |
336,892 |
|
242,424 |
|
|
|
|
|
|
9,609,520 |
|
9,186,100 |
|
|
|
|
|
|
|
|
|
|
Average number of persons employed by the company |
2024 |
|
2023 |
Number |
Number |
|
|
Fulfilment |
776 |
|
1,039 |
|
|
|
|
|
|
|
|
|
|
7 |
Interest payable |
2024 |
|
2023 |
£ |
£ |
|
|
Other loans |
- |
|
1,647 |
|
Finance charges payable under finance leases and hire purchase contracts |
|
2,264 |
|
1,570 |
|
|
|
|
|
|
2,264 |
|
3,217 |
|
|
|
|
|
|
|
|
|
|
8 |
Taxation |
2024 |
|
2023 |
£ |
£ |
|
Analysis of charge in period |
|
Current tax: |
|
UK Corporation Tax on profits of the period |
1,839,432 |
|
783,530 |
|
|
|
|
|
|
|
|
|
|
Deferred tax: |
|
Origination and reversal of timing differences |
(32,590) |
|
75,450 |
|
|
|
|
|
|
|
|
|
|
|
Tax on profit on ordinary activities |
1,806,842 |
|
858,980 |
|
|
|
|
|
|
|
|
|
|
|
Factors affecting tax charge for period |
|
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows: |
|
|
|
|
|
|
|
2024 |
|
2023 |
£ |
£ |
|
Profit on ordinary activities before tax |
6,960,067 |
|
3,764,710 |
|
|
|
|
|
|
|
|
|
|
Standard rate of Corporation Tax in the UK |
25.00% |
|
22.01% |
|
£ |
£ |
|
Profit on ordinary activities multiplied by the standard rate of Corporation Tax |
|
1,740,017 |
|
828,613 |
|
|
Effects of: |
|
Expenses not deductible for tax purposes |
67,229 |
|
34,852 |
|
Fixed asset super-deduction |
- |
|
(14,826) |
|
Unrecognised deferred tax assets |
(404) |
|
1,373 |
|
Effect of change in tax rate |
- |
|
8,968 |
|
Tax on profit on ordinary activities |
1,806,842 |
|
858,980 |
|
|
|
|
|
|
|
|
|
|
9 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery |
|
Motor vehicles |
|
Total |
£ |
£ |
£ |
£ |
|
Cost |
|
At 1 October 2023 |
876,537 |
|
866,310 |
|
735,458 |
|
2,478,305 |
|
Additions |
- |
|
200,213 |
|
32,500 |
|
232,713 |
|
Disposals |
(856,253) |
|
(201,970) |
|
(156,900) |
|
(1,215,123) |
|
At 30 September 2024 |
20,284 |
|
864,553 |
|
611,058 |
|
1,495,895 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2023 |
876,537 |
|
484,915 |
|
493,950 |
|
1,855,402 |
|
Charge for the year |
- |
|
245,266 |
|
78,726 |
|
323,992 |
|
On disposals |
(856,253) |
|
(188,043) |
|
(77,047) |
|
(1,121,343) |
|
At 30 September 2024 |
20,284 |
|
542,138 |
|
495,629 |
|
1,058,051 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2024 |
- |
|
322,415 |
|
115,429 |
|
437,844 |
|
At 30 September 2023 |
- |
|
381,395 |
|
241,508 |
|
622,903 |
|
|
|
|
|
|
|
|
|
|
10 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
705,666 |
|
1,394,339 |
|
Other debtors |
16,782 |
|
20,616 |
|
Prepayments and accrued income |
1,925,051 |
|
1,654,541 |
|
|
|
|
|
|
2,647,499 |
|
3,069,496 |
|
|
|
|
|
|
|
|
|
|
11 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
- |
|
8,472 |
|
Trade creditors |
15,393 |
|
45,650 |
|
Amounts owed to group undertakings and undertakings |
|
42,287 |
|
- |
|
Corporation Tax |
|
|
|
|
793,664 |
|
337,235 |
|
Other taxation and social security costs |
827,844 |
|
857,650 |
|
Other creditors |
35,961 |
|
42,779 |
|
Accruals and deferred income |
1,017,251 |
|
1,048,372 |
|
|
|
|
|
|
2,732,400 |
|
2,340,158 |
|
|
|
|
|
|
|
|
|
|
12 |
Creditors: amounts falling due after more than one year |
2024 |
|
2023 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
- |
|
29,652 |
|
|
|
|
|
|
|
|
|
|
13 |
Obligations under finance leases and hire purchase contracts |
2024 |
|
2023 |
£ |
£ |
|
Amounts payable: |
|
Within one year |
- |
|
8,472 |
|
Within two to five years |
- |
|
29,652 |
|
|
|
|
|
|
- |
|
38,124 |
|
|
|
|
|
|
|
|
|
|
Obligations under finance leases and hire purchase agreements are secured on the assets to which they relate. |
|
|
14 |
Deferred taxation |
2024 |
|
2023 |
£ |
£ |
|
|
Accelerated capital allowances |
25,248 |
|
57,838 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
2023 |
£ |
£ |
|
|
At 1 October |
57,838 |
|
(17,612) |
|
Deferred tax charge in profit and loss account |
(32,590) |
|
75,450 |
|
At 30 September |
25,248 |
|
57,838 |
|
|
|
|
|
|
|
|
|
|
15 |
Share capital |
Nominal |
|
2024 |
|
2024 |
|
2023 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
849 |
|
849 |
|
849 |
|
'A' ordinary shares |
£1 each |
|
65 |
|
65 |
|
65 |
|
'B' ordinary shares |
£1 each |
|
65 |
|
65 |
|
65 |
|
'C' ordinary shares |
£1 each |
|
15 |
|
15 |
|
15 |
|
'E' ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
|
'F' ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
|
'G' ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
|
'H' ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
|
'I' ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
|
'J' ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
|
'K' ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
|
'L' ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
|
'M' ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
|
|
|
|
|
|
1,003 |
|
1,003 |
|
|
|
|
|
|
|
|
|
|
All shares carry full voting rights (one vote per share), full rights to participate in any capital distribution on winding up and full rights to participate regarding dividends in respect of the class of share. |
|
|
16 |
Other financial commitments |
|
|
Total future minimum lease payments under non-cancellable operating leases: |
|
|
|
Land and buildings |
|
Land and buildings |
Other |
Other |
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
£ |
£ |
£ |
£ |
|
Falling due: |
|
within one year |
10,800 |
|
10,800 |
|
- |
|
- |
|
within two to five years |
62,534 |
|
89,334 |
|
- |
|
- |
|
|
73,334 |
|
100,134 |
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
17 |
Related party transactions |
2024 |
|
2023 |
£ |
£ |
|
|
Dividends paid to directors and their close families |
|
2,049,768 |
|
4,641,266 |
|
|
The dividends disclosed above were prior to Calian Group Limited acquiring control of the company on 9 May 2024. The company has applied the exemption available under Section 33.1A not to disclose transactions with fellow wholly-owned group undertakings of Calian Group Limited. |
|
|
18 |
Controlling parties |
|
|
The ultimate controlling parties were Mrs A T O'Reilly and Mr M S M O'Reilly until 9 May 2024, and Calian Group Limited thereafter. |
|
|
On 9 May 2024, Calian International Limited, a wholly owned subsidiary of Calian Group Limited, acquired all of the shares in the company, thereby obtaining control of the company. Calian International Limited is the immediate parent company and is a company incorporated in Canada. Calian Group Limited is the ultimate parent undertaking, being a company incorporated in Canada with shares listed on the Toronto Stock Exchange. The financial statements of Calian Group Limited are the smallest and largest group of undertakings to consolidate these financial statements for the period ended 30 September 2024, whose financial statements can be obtained from https://investors.calian.com/financial-information/. |