Company registration number 10213240 (England and Wales)
DINNER LADY FAM LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
DINNER LADY FAM LTD
COMPANY INFORMATION
Directors
Mr H Ijaz
Mr M Patel
Company number
10213240
Registered office
GM House
Wilkinson Way
Blackburn
BB1 2EH
Auditor
AMS Accountants Corporate Ltd
Chartered Accountants
Floor 2
9 Portland Street
Manchester
M1 3BE
DINNER LADY FAM LTD
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 27
DINNER LADY FAM LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 1 -
The directors present the strategic report for the year ended 31 May 2024.
Review of the business
The Company’s primary focus remains on the design, production, import, and distribution of innovative smoking cessation and nicotine replacement products to retailers, wholesalers, and distributors across the UK, USA, EU, and the rest of the world. Additionally, the Company sells directly to UK customers through its online platform.
The Company has a proven international presence in over 100 countries. Dinner Lady’s strong brand, combined with its long-term strategy of shaping the market with high-quality, well-designed products in key categories, has enabled significant global growth. The Company has consistently operated a robust key performance indicator (KPI) system to track, assess, and enhance performance and customer satisfaction. Key KPIs include Quality on Time in Full Deliveries (QONTIF), Qualified Opportunity Conversion, Customer Retention, Customer Attrition, and other critical customer metrics.
Dinner Lady’s leadership team, with extensive experience in industries such as FMCG, Retail, Business Services, Legal, Compliance, and Digital, brings a wealth of knowledge to the Company. The Company has established strong management practices, focusing on operational efficiencies and automation. Through ongoing training and development, Dinner Lady has built a capable and high-performing team. By collaborating with top global business schools, the management team has honed skills in leadership, technical expertise, commercial acumen, organizational culture, and communication. Furthermore, the Company actively engages its employees through a dedicated participation and engagement program, managed by a dedicated team.
Financial summary
Having delivered consistent year on year growth since its inception, the Company unfortunately encountered a devastating fire resulting in a Total loss of the site that had a significant impact on its operations at the beginning of this particular financial year. The fire occurred at Dinner Lady’s UK Manufacturing & Warehouse facility, which held a significant amount of stock and industry leading equipment and machinery. However, in the year Dinner Lady were fully committed to rebuilding quickly and moving forward stronger than ever. As we focused on recovery, our top priority was to restore our services and infrastructure, while maintaining the quality and customer service that has been part of the foundation of our success. We are resilient, and with the support of our dedicated team and loyal customers, we still managed to achieve a very respectable turnover despite a complete outage of stock and manufacturing capability for a significant period of the financial year.
As a result, the turnover in 2024 reduced to £26,881,316 (2023: £41,871,046). The gross profit for 2024 was £9,592,300 (2023: £14,899,227). Loss before taxation was £4,155,856 (2023: Profit of £4,137,706).
The expectation is that year ended 31 May 2025 will be heavily focused on consolidating our position post fire, with year-end 31 May 2026 reverting back to growth by continuing to operate with a stringent and robust approach towards the management of financials and commercial proportionality through key ratios measured across the Profit & Loss, Balance Sheet, and Cashflow.
The experience gained by the business and its key members in dealing with such a significant incident is truly remarkable and will surely pave the way forward to what will be an unprecedented success story in our sector.
DINNER LADY FAM LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
Principal risks and uncertainties
The process of risk management is addressed through a strategic framework of policies, procedures, and internal controls. All policies are subject to Board approval and ongoing review by Management.
The Company takes a robust stance on the adherence of all legal and regulatory matters. The UK Tobacco and Related Products Regulations 2016 (TRPR) regulates e-cigarettes and e-liquids. All e-cigarettes and e-liquids sold in the UK must be registered with the Medicines and Healthcare products Regulatory Agency (MHRA). The Company has a well-established compliance unit, dedicated to ensuring that all compliance requirements are fulfilled. The Company has also partnered with numerous specialist firms to continue the thorough testing of all its products to ensure that it continues to deliver compliant, premium quality products.
Where appropriate, relevant credit checks are performed on potential customers before sales are made. The amount of exposure to any individual customer is limited and controlled by means of a credit limit which is monitored by its dedicated Commercial Unit.
The Company is exposed to the risk of fluctuations in foreign exchange rates (mainly EUR/USD) and has developed a hedging strategy to minimise some of this risk.
Future developments
The Company has a strong focus on new product development through core innovation of existing products, introduction of adjacent markets, and technological advancement which provide a strategic advantage to support future growth.
During the year one of the company's manufacturing facilities suffered a fire and was destroyed. The company is not wholly dependent on its warehouse for its operations given the diverse nature of its trade across the world and has several operating sites and has been able to trade despite the loss of its warehouse. However, this event has reduced the profitability of the company for the year ended 31st May 2024. The company is expected to return to a profitable position for the year ended 31st May 2026.
Mr M Patel
Director
13 May 2025
DINNER LADY FAM LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
The directors present their annual report and financial statements for the year ended 31 May 2024.
Principal activities
The principal activity of the company continued to be that of vape liquid wholesale.
Results and dividends
The results for the year are set out on page 8.
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr H Ijaz
Mr M Patel
Financial instruments
Liquidity risk
The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.
Interest rate risk
The company is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on floating rate deposits, bank overdrafts and loans. The company uses interest rate derivatives to manage the mix of fixed and variable rate debt so as to reduce its exposure to changes in interest rates.
Foreign currency risk
The company’s principal foreign currency exposures arise from trading with overseas companies. Company policy permits but does not demand that these exposures may be hedged in order to fix the cost in sterling. This hedging activity involves the use of foreign exchange forward contracts.
Credit risk
Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.
All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.
Auditor
The auditor, AMS Accountants Corporate Ltd, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
DINNER LADY FAM LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
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; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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 company’s auditor 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 company’s auditor is aware of that information.
Medium-sized companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
On behalf of the board
Mr M Patel
Director
13 May 2025
DINNER LADY FAM LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DINNER LADY FAM LTD
- 5 -
Opinion
We have audited the financial statements of Dinner Lady FAM Ltd (the 'company') for the year ended 31 May 2024 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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 company's affairs as at 31 May 2024 and of its loss 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.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We draw attention to note 1.2 of the financial statements, which describes the impact of the fire that occurred in September 2023 to the company's trading premises. The fire resulted in significant damage to the company's inventory and fixed assets, leading to one-off costs which has resulted in the company recording a loss in the financial statements for the year ended 31st May 2024. More detail surrounding the fire and its impact on the company can be found in the strategic report. The company has accounted for impairment losses relating to this event. Our opinion is not modified in this respect.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are 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.
DINNER LADY FAM LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DINNER LADY FAM LTD (CONTINUED)
- 6 -
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the 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:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the 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 directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
DINNER LADY FAM LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DINNER LADY FAM LTD (CONTINUED)
- 7 -
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, drawing on our broad sector experience, and considered the risk of acts by the company that were contrary to these laws and regulations, including fraud. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and equivalent local laws and regulations.
We made enquiries of management with regards to compliance with the above laws and regulations and corroborated any necessary evidence to relevant information, for example, minutes of the board meetings, legal reports provided to the Company and correspondence between the Company and its solicitors. Audit procedures performed by the engagement team included:
Discussion with management, including consideration of known or suspected instances of noncompliance with laws and regulations and fraud;
Review of financial statement disclosures to underlying supporting documentation;
Challenging assumptions and judgements made by management in their significant accounting estimates;
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of revised financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with the Companies (Revision of Defective Accounts and Reports) Regulations 2008. 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.
Mr David Clegg BFP FCA (Senior Statutory Auditor)
For and on behalf of AMS Accountants Corporate Ltd, Statutory Auditor
Chartered Accountants
Floor 2
9 Portland Street
Manchester
M1 3BE
13 May 2025
DINNER LADY FAM LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
26,881,316
41,871,046
Cost of sales
(17,289,016)
(26,971,819)
Gross profit
9,592,300
14,899,227
Administrative expenses
(13,534,766)
(10,668,657)
Operating (loss)/profit
4
(3,942,466)
4,230,570
Interest payable and similar expenses
8
(213,390)
(92,864)
(Loss)/profit before taxation
(4,155,856)
4,137,706
Tax on (loss)/profit
9
292,535
(765,993)
(Loss)/profit for the financial year
(3,863,321)
3,371,713
The profit and loss account has been prepared on the basis that all operations are continuing operations.
DINNER LADY FAM LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024
- 9 -
2024
2023
£
£
(Loss)/profit for the year
(3,863,321)
3,371,713
Other comprehensive income
-
-
Total comprehensive income for the year
(3,863,321)
3,371,713
DINNER LADY FAM LTD
BALANCE SHEET
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
10
667,019
711,665
Tangible assets
11
1,127,595
1,141,347
1,794,614
1,853,012
Current assets
Stocks
13
2,149,504
3,368,689
Debtors
14
6,073,341
3,847,544
Cash at bank and in hand
277,893
2,910,580
8,500,738
10,126,813
Creditors: amounts falling due within one year
15
(7,170,553)
(5,394,506)
Net current assets
1,330,185
4,732,307
Total assets less current liabilities
3,124,799
6,585,319
Creditors: amounts falling due after more than one year
16
(564,325)
(133,516)
Provisions for liabilities
Deferred tax liability
19
184,979
212,987
(184,979)
(212,987)
Net assets
2,375,495
6,238,816
Capital and reserves
Called up share capital
21
100
100
Profit and loss reserves
2,375,395
6,238,716
Total equity
2,375,495
6,238,816
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 13 May 2025 and are signed on its behalf by:
Mr M Patel
Director
Company registration number 10213240 (England and Wales)
DINNER LADY FAM LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 11 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 June 2022
100
2,867,003
2,867,103
Year ended 31 May 2023:
Profit and total comprehensive income
-
3,371,713
3,371,713
Balance at 31 May 2023
100
6,238,716
6,238,816
Year ended 31 May 2024:
Loss and total comprehensive income
-
(3,863,321)
(3,863,321)
Balance at 31 May 2024
100
2,375,395
2,375,495
DINNER LADY FAM LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024
- 12 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
27
(1,934,734)
3,184,654
Interest paid
(213,390)
(92,864)
Income taxes paid
(8,656)
(310,723)
Net cash (outflow)/inflow from operating activities
(2,156,780)
2,781,067
Investing activities
Purchase of tangible fixed assets
(378,133)
(63,384)
Net cash used in investing activities
(378,133)
(63,384)
Financing activities
Proceeds from borrowings
46,092
Repayment of borrowings
(46,092)
Payment of finance leases obligations
(51,682)
(159,002)
Net cash used in financing activities
(97,774)
(112,910)
Net (decrease)/increase in cash and cash equivalents
(2,632,687)
2,604,773
Cash and cash equivalents at beginning of year
2,910,580
305,807
Cash and cash equivalents at end of year
277,893
2,910,580
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 13 -
1
Accounting policies
Company information
Dinner Lady FAM Ltd is a private company limited by shares incorporated in England and Wales. The registered office is GM House, Wilkinson Way, Blackburn, BB1 2EH.
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. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are truemade aware of the following uncertainties which may cause doubt on the company's ability to continue as a going concern.
During the year one of the company's manufacturing facilities suffered a fire and was destroyed. The company is in the process of pursuing an insurance claim, which has not yet been concluded but to date the company have received £3.6m of insurance proceeds post year end which has improved the company's liquidity position.
The company is not wholly dependent on its warehouse for its operations given the diverse nature of its trade across the world and has several operating sites and has been able to trade despite the loss of its warehouse. However, this event has reduced the profitability of the company for the year ended 31st May 2024. The company is expected to return to a profitable position for the year ended 31st May 2026.
The directors are also aware of the ban on disposable vapes which is proposed to come into effect during 2025. The ban on disposable vapes in the UK is not regarded as a key risk to the company given its diverse portfolio and trade around the world.
The company have prepared detailed budgets and forecasts to support the going concern position. The company continues to show a profitable EBITDA position for the financial year ended 31st May 2026. The forecasts show the company has sufficient headroom in order to meet its obligations as they fall due.
In addition, the company continues to have the support of its shareholders who will make funds available to meet the company's liabilities and obligations as they fall due. Therefore, the directors deem it appropriate to prepare the financial statements on a going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 14 -
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Patents & licenses
Straight line over 2 and 20 years
1.5
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:
Fixtures and fittings
Straight line over 3, 7 and 10 years
Motor vehicles
Straight line over 3 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
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.
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 15 -
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.
1.7
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.8
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.
1.9
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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.
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 16 -
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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.
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 17 -
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.11
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 company’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 when the company has 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.
1.12
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.
1.13
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 18 -
1.14
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 leases asset are consumed.
1.15
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Patents and licences
The company owns various patents and licences with an expected useful economic life of 20 years. This is reviewed annually by the directors with an impairment review carried out via a value in use calculation. The value in use calculation requires the entity to estimate the future cash flows expected to arise from the cash generating unit and a suitable discount rate in order to calculate present value. The carrying amount of goodwill at the balance sheet date is £667,019 (2023 - £711,665).
3
Turnover
2024
2023
£
£
Turnover analysed by class of business
Sale and manufacture of vape e-liquids and disposable vapes
26,881,316
41,871,046
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
3
Turnover
(Continued)
- 19 -
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
7,246,891
6,817,790
EU
16,022,116
29,401,912
USA
476,684
493,590
Rest of World
3,135,625
5,157,754
26,881,316
41,871,046
4
Operating (loss)/profit
2024
2023
Operating (loss)/profit for the year is stated after charging:
£
£
Exchange losses
41,585
117,468
Research and development costs
510,745
2,424,068
Depreciation of owned tangible fixed assets
189,566
239,163
Depreciation of tangible fixed assets held under finance leases
103,478
101,785
Loss on disposal of tangible fixed assets
618,485
-
Amortisation of intangible assets
44,646
42,613
Operating lease charges
924,610
301,332
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
18,750
18,750
6
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Directors
2
2
Administration
120
130
Total
122
132
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
6
Employees
(Continued)
- 20 -
Their aggregate remuneration comprised:
2024
2023
£
£
Wages and salaries
4,636,764
4,571,566
Social security costs
461,634
417,390
Pension costs
88,321
77,736
5,186,719
5,066,692
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
91,271
90,641
8
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
91,058
26,268
Other finance costs:
Interest on finance leases and hire purchase contracts
99,326
18,251
Other interest
23,006
48,345
213,390
92,864
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
264,527
Adjustments in respect of prior periods
(264,527)
491,453
Total current tax
(264,527)
755,980
Deferred tax
Origination and reversal of timing differences
(28,008)
(54,085)
Changes in tax rates
64,098
Total deferred tax
(28,008)
10,013
Total tax (credit)/charge
(292,535)
765,993
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
9
Taxation
(Continued)
- 21 -
The actual (credit)/charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
(Loss)/profit before taxation
(4,155,856)
4,137,706
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
(1,038,964)
786,164
Tax effect of expenses that are not deductible in determining taxable profit
11,162
Tax effect of utilisation of tax losses not previously recognised
330,612
Unutilised tax losses carried forward
764,457
Effect of change in corporation tax rate
6,654
Permanent capital allowances in excess of depreciation
14,535
(25,775)
Depreciation on assets not qualifying for tax allowances
64,780
Under/(over) provided in prior years
(264,527)
491,453
Deferred tax adjustments in respect of prior years
10,014
R&D enhanced expenditure
(109,810)
(567,297)
Taxation (credit)/charge for the year
(292,535)
765,993
10
Intangible fixed assets
Patents & licenses
£
Cost
At 1 June 2023 and 31 May 2024
783,191
Amortisation and impairment
At 1 June 2023
71,526
Amortisation charged for the year
44,646
At 31 May 2024
116,172
Carrying amount
At 31 May 2024
667,019
At 31 May 2023
711,665
Individual intangible assets that are material to the entity's financial statements are as follows:
The Company holds the intellectual property rights to the "Lemon Tart" recipe, a flavour used in a range of their products.
As of FY24 this asset has a carrying amount of £667,019 (2023: £703,538).
The remaining amortisation period is 17 years.
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
10
Intangible fixed assets
(Continued)
- 22 -
11
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 June 2023
2,850,323
2,850,323
Additions
725,335
172,442
897,777
Disposals
(1,611,633)
(1,611,633)
At 31 May 2024
1,964,025
172,442
2,136,467
Depreciation and impairment
At 1 June 2023
1,708,976
1,708,976
Depreciation charged in the year
235,563
57,481
293,044
Eliminated in respect of disposals
(993,148)
(993,148)
At 31 May 2024
951,391
57,481
1,008,872
Carrying amount
At 31 May 2024
1,012,634
114,961
1,127,595
At 31 May 2023
1,141,347
1,141,347
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts. The depreciation charged in respect of assets held under finance lease or hire purchase was £103,478 (2023: £101,765).
2024
2023
£
£
Plant and equipment
475,372
339,476
Motor vehicles
114,961
590,333
339,476
12
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
5,359,346
3,041,586
Carrying amount of financial liabilities
Measured at amortised cost
6,794,095
4,447,287
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 23 -
13
Stocks
2024
2023
£
£
Finished goods and goods for resale
2,149,504
3,368,689
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,645,272
2,044,500
Other debtors
2,738,576
997,086
Prepayments and accrued income
689,493
805,958
6,073,341
3,847,544
15
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Obligations under finance leases
18
167,712
130,559
Other borrowings
17
46,092
Trade creditors
3,866,841
2,038,734
Corporation tax
471,207
744,390
Other taxation and social security
469,576
336,345
Other creditors
63,761
21,445
Accruals and deferred income
2,131,456
2,076,941
7,170,553
5,394,506
Charges exist by way of security as fixed and floating charges over the assets of the entity. This is held by the bank in respect of overdraft and invoice financing facilities.
16
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
18
564,325
133,516
17
Loans and overdrafts
2024
2023
£
£
Other loans
46,092
Payable within one year
46,092
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 24 -
18
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
177,250
130,560
In two to five years
554,787
133,515
732,037
264,075
Finance lease payments represent rentals payable by the company for certain items of plant and machinery, no restrictions are placed on the use of the assets. The average lease term is 5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
19
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
184,979
212,987
2024
Movements in the year:
£
Liability at 1 June 2023
212,987
Credit to profit or loss
(28,008)
Liability at 31 May 2024
184,979
20
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
88,321
77,736
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
21
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 25 -
22
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2024
2023
£
£
Within one year
174,444
309,408
Between two and five years
628,070
692,514
In over five years
26,667
802,514
1,028,589
23
Events after the reporting date
On 11th September 2023 the warehouse of the company was damaged by a fire. Insurance claims are ongoing in respect of this fire with £3,647,629 having being received as insurance proceeds post year end.
The insurance claim was not agreed until July 2024 and as such these amounts are classed as a non-adjusting event in these financial statements.
The company are proceeding with a claim to recover further funds above and beyond the £3,647,629 already received from it's insurance broker but at the date of signing of these financial statements no further amounts have been included as this is considered to be a contingent asset.
24
Related party transactions
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2024
2023
£
£
Aggregate compensation
119,556
108,008
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Sales
Sales
Purchases
Purchases
2024
2023
2024
2023
£
£
£
£
Other related parties
115,581
88,762
598,088
67,876
2024
2023
Amounts due to related parties
£
£
Other related parties
40,974
13,066
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
24
Related party transactions
(Continued)
- 26 -
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Other related parties
2,396,432
854,385
25
Controlling party
By virtue of his majority shareholding, Mr M Patel is considered the ultimate controlling party.
26
Directors' transactions
Dividends totalling £0 (2023 - £0) were paid in the year in respect of shares held by the company's directors.
At the year end, there was no balance due to or from the directors, comparatively no was due to the directors for 2023.
27
Cash (absorbed by)/generated from operations
2024
2023
£
£
(Loss)/profit after taxation
(3,863,321)
3,371,713
Adjustments for:
Taxation (credited)/charged
(292,535)
765,993
Finance costs
213,390
92,864
Loss on disposal of tangible fixed assets
618,485
-
Amortisation and impairment of intangible assets
44,646
42,613
Depreciation and impairment of tangible fixed assets
293,044
340,948
Movements in working capital:
Decrease/(increase) in stocks
1,219,185
(1,147,181)
Increase in debtors
(2,225,797)
(243,348)
Increase/(decrease) in creditors
2,058,169
(38,948)
Cash (absorbed by)/generated from operations
(1,934,734)
3,184,654
DINNER LADY FAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 27 -
28
Analysis of changes in net funds/(debt)
1 June 2023
Cash flows
New finance leases
31 May 2024
£
£
£
£
Cash at bank and in hand
2,910,580
(2,632,687)
-
277,893
Borrowings excluding overdrafts
(46,092)
46,092
-
-
Obligations under finance leases
(264,075)
51,682
(519,644)
(732,037)
2,600,413
(2,534,913)
(519,644)
(454,144)
2024-05-312023-06-01falsefalsefalseCCH SoftwareCCH Accounts Production 2025.100Mr H IjazMr M Patel102132402023-06-012024-05-3110213240bus:Director12023-06-012024-05-3110213240bus:Director22023-06-012024-05-3110213240bus:RegisteredOffice2023-06-012024-05-31102132402024-05-31102132402022-06-012023-05-3110213240core:RetainedEarningsAccumulatedLosses2022-06-012023-05-3110213240core:RetainedEarningsAccumulatedLosses2023-06-012024-05-3110213240core:OtherResidualIntangibleAssets2024-05-3110213240core:OtherResidualIntangibleAssets2023-05-3110213240core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2024-05-3110213240core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-05-31102132402023-05-3110213240core:FurnitureFittings2024-05-3110213240core:MotorVehicles2024-05-3110213240core:FurnitureFittings2023-05-3110213240core:MotorVehicles2023-05-3110213240core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3110213240core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-31102132402023-05-3110213240core:Non-currentFinancialInstrumentscore:AfterOneYear2024-05-3110213240core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-3110213240core:CurrentFinancialInstruments2024-05-3110213240core:CurrentFinancialInstruments2023-05-3110213240core:ShareCapital2024-05-3110213240core:ShareCapital2023-05-3110213240core:RetainedEarningsAccumulatedLosses2024-05-3110213240core:RetainedEarningsAccumulatedLosses2023-05-3110213240core:ShareCapital2022-05-3110213240core:RetainedEarningsAccumulatedLosses2022-05-31102132402022-05-3110213240core:ShareCapitalOrdinaryShareClass12024-05-3110213240core:ShareCapitalOrdinaryShareClass12023-05-3110213240core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3110213240core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-06-012024-05-3110213240core:FurnitureFittings2023-06-012024-05-3110213240core:MotorVehicles2023-06-012024-05-311021324012023-06-012024-05-3110213240countries:UnitedKingdom2023-06-012024-05-3110213240countries:UnitedKingdom2022-06-012023-05-3110213240countries:Europe2023-06-012024-05-3110213240countries:Europe2022-06-012023-05-3110213240countries:UnitedStates2023-06-012024-05-3110213240countries:UnitedStates2022-06-012023-05-3110213240countries:RestWorldOutsideUK2023-06-012024-05-3110213240countries:RestWorldOutsideUK2022-06-012023-05-3110213240core:OwnedAssets2023-06-012024-05-3110213240core:OwnedAssets2022-06-012023-05-311021324012023-06-012024-05-311021324012022-06-012023-05-3110213240core:UKTax2023-06-012024-05-3110213240core:UKTax2022-06-012023-05-311021324022023-06-012024-05-311021324022022-06-012023-05-311021324032023-06-012024-05-311021324032022-06-012023-05-3110213240core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-05-3110213240core:FurnitureFittings2023-05-3110213240core:MotorVehicles2023-05-3110213240core:PlantMachinery2024-05-3110213240core:PlantMachinery2023-05-3110213240core:FinancialAssetsAmortisedCost2024-05-3110213240core:FinancialAssetsAmortisedCost2023-05-3110213240core:FinancialLiabilitiesAmortisedCost2024-05-3110213240core:FinancialLiabilitiesAmortisedCost2023-05-3110213240core:Non-currentFinancialInstruments2024-05-3110213240core:Non-currentFinancialInstruments2023-05-3110213240core:WithinOneYear2024-05-3110213240core:WithinOneYear2023-05-3110213240core:BetweenTwoFiveYears2024-05-3110213240core:BetweenTwoFiveYears2023-05-3110213240bus:OrdinaryShareClass12023-06-012024-05-3110213240bus:OrdinaryShareClass12024-05-3110213240bus:OrdinaryShareClass12023-05-3110213240core:MoreThanFiveYears2024-05-3110213240core:MoreThanFiveYears2023-05-311021324012023-06-012024-05-3110213240core:OtherRelatedPartiescore:SaleOrPurchaseGoods2023-06-012024-05-3110213240core:OtherRelatedPartiescore:SaleOrPurchaseGoods2022-06-012023-05-3110213240bus:PrivateLimitedCompanyLtd2023-06-012024-05-3110213240bus:FRS1022023-06-012024-05-3110213240bus:Audited2023-06-012024-05-3110213240bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP