Company registration number 11270421 (England and Wales)
TRAFFORDCITY SNOWCENTRE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
TRAFFORDCITY SNOWCENTRE LIMITED
COMPANY INFORMATION
Directors
D I Brown
R J Cook
T W Harris
Company number
11270421
Registered office
The Snow Centre
St Albans Hill
Hemel Hempstead
Hertfordshire
HP3 9NH
Auditor
Mercer & Hole LLP
72 London Road
St Albans
Hertfordshire
AL1 1NS
TRAFFORDCITY SNOWCENTRE LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Directors' responsibilities statement
6
Independent auditor's report
7 - 9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Notes to the financial statements
13 - 26
TRAFFORDCITY SNOWCENTRE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -
The directors present the strategic report for the year ended 30 September 2024.
Review of the business
The company has continued to trade profitably and ahead of expectations for the year. Whilst guest footfall was down marginally year on year revenue growth was driven by mix of product and increased average selling price.
The first half of the financial year saw strong growth year on year in all core product areas especially across the winter months.
Timing of Easter holidays fell earlier when compared to the prior year and this combined with poor European snow conditions across the preceding months impacted revenue in Spring. Revenue was also impacted across the summer with the European football championships followed by the Summer Olympics resulting in lower footfall.
The cost base of the business was generally in line with target with increased wage costs, driven by increased trading and higher than anticipated National Minimum Wage increases from April 2024. This was mostly offset by savings in energy through improved energy contracts and investment in site to improve efficiency on energy usage.
Principal risks and uncertainties
Whilst the financial year saw inflation reduce and a reduction in comparison to prior year there was ongoing uncertainty around both the impact of cost of living increases and the announcement of the general election. This had the potential to reduce footfall on site with Snowsports activities seen as luxury spending rather than essential. Trading across the year suggests there was a reduction in footfall however this was mostly felt during summer and peak footfall whilst marginally down year on year was unaffected.
The business has the increased range and type of operational and facility checks to prevent against mechanical failures impacting revenues with planned preventative maintenance for summer 2025 in place.
Ongoing increases to the National Minimum Wage above inflation and budget at April 2024 impacted payroll costs for the second half of our financial year and are anticipated to do so again from April 2025 with further impact of changes on Employer National Insurance also impacting business. Steps are being taken to evaluate and mitigate these risks.
Whilst price increases from suppliers have been seen across the business the company has looked to protect against these through partnerships and contract agreements around F&B suppliers and energy providers. Additionally, the business continues to review energy use, employing saving initiatives where possible, and has invested in updated chiller equipment and lighting in order to save on usage.
One tenant unit remains available to lease with a retained property agent continuing to manage interested parties and the business making unit rental a more attractive proposition through reduced service charge costs via closer budget control and engaging tenants on increased number of on-site events driving footfall.
Key performance indicators
The company monitors the following key performance indicators:
- Spend per guest visit
- Lodge Cafe spend per transaction
- Number of guest visits
- Total guest database
- Payroll hours tracking
- Profit margin and payroll cost margin.
- Guest feedback
- Health & Safety audits.
- Team engagement, absence, turnover.
- Staffing utilisation (instructor usage vs paid)
TRAFFORDCITY SNOWCENTRE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
Future Prospects
Current trading has increased on prior year and is in line with budget to date through increased average spend. Payroll costs will increase ahead of expected in Apr 2025 with solutions to offset currently being investigated.
S172 Statement
Our Key Stakeholders
The Board considers the following groups to be the key stakeholders of the business:
In accordance with the duties of Directors under section 172 of the Companies Act 2006, the Board considers a number of matters in its decision making, including:
| The likely consequences of any decisions in the long term; | |
| The interests of the company’s employees; | | |
| The need to foster the company’s business relationships with suppliers, customers and others; |
| The impact of the company’s operations on the community and the environment; |
| The reputation for a high standard of business conduct; and | |
| The need to act fairly as between members of the company. | |
The following disclosure describes how the Directors of the Company have taken account of the matters set out in section 172.
The Directors meet monthly and make decisions which promote the success of the Company and its stakeholders. Proposals are discussed in detail, approved and documented by the Directors which ensures that key decisions are taken considering the Company's risk management framework.
Our Team
Our Team Members are key to the success of our business and a fundamental element of ensuring we are able to deliver amazing experiences for our Guests. Knowing what is considered important to our team is always taken into account, with a focus on providing clear and open communication between management and the team. Ongoing team engagement programs recognise and reward the team through vouchers and team social activities.
Additionally, team wellbeing and mental health support has been a key theme raised in our team engagement survey with mental health first aid training provided as well as driving increased awareness of our confidential employee assistance program and rewards platforms.
Our team turnover rate for the year was 33.25% v 34.5% the previous year, driven predominantly by the seasonality of our business and ending of fixed-term contracts, as well as students leaving to attend university.
Providing our team with development opportunities, avenues for career progression and skills enhancement has been a clear focus throughout the year, with launch of Multi-skill role allowing cross team development at an enhanced rate of pay. The business continues to run bi-annual performance reviews for all our team, CPD opportunities as well as launching an internal program for team members across all departments to gain recognised Ski and Snowboarding Instructor qualifications.
TRAFFORDCITY SNOWCENTRE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
Our Guests
Ensuring every Guest has an amazing experience every time they visit is a core consideration for the Board and we are passionate about using Guest feedback to affect meaningful change and constant improvement.
Guest feedback is reviewed regularly by the Board and Senior Management, who use this feedback to identify improvements to ways of working and ongoing investment into our facilities and equipment. Guest queries are responded to in a timely manner, and we are proud that guest satisfaction scores across all areas have seen improvement year on year.
The safety of our Guests is of paramount importance to the business, especially when considering that participating in Snowsports is not without an element of physical risk. We ensure that all our team are appropriately trained and first aid qualified, and that they adhere to stringent health and safety guidelines.
Accident statistics and information are reviewed weekly and influence operational procedures and training.
Our Investors
We value the feedback our investors provide and their input into plans for our future growth and strategic direction.
Our Community and the Environment
We believe in being an active part of our local communities, giving back through supporting various Snowsports charities such as Disability Snowsports UK and Snow Camp which supports young adults from disadvantaged backgrounds through introducing them to Snowsports. These charity partnerships have proven hugely successful.
Several local schools access our facilities and we offer work placements.
The Directors recognise that as a responsible business we have an obligation to operate in a manner that minimises our environmental impact. We follow the relevant environmental legislation when conducting business with a policy seeking to reduce our environmental impact and energy usage, whilst improving our recycling efforts and investing significantly in more efficient cooling systems. Additionally, the business has launched an electric vehicle salary sacrifice scheme for all employees subject to eligibility.
Our Suppliers, Partners and Tenants
We have a number of key stakeholders linked to our business operations, all selected because they compliment our brand and operating practices. Our senior leadership regularly review relationships with brand partners and suppliers, ensuring business practices are ethical and equally that they continue to operate in a manner which allows the business to provide an amazing Guest experience.
Our Managing Director regularly engages with tenants on site ensuring partnerships complement our overall business offering and brand integrity is maintained. As such, great care is taken before tenants are taken on and/or leases revised. This year saw the business agree a lease with Simply Race Ltd and agree a contribution to the unit fit-out to secure brand as a tenant.
D I Brown
Director
6 June 2025
TRAFFORDCITY SNOWCENTRE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
The directors present their annual report and financial statements for the year ended 30 September 2024.
Principal activities
The principal activity of the company was that of ownership and operation of an indoor real snow ski slope.
Results and dividends
The results for the year are set out on page 10.
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:
D I Brown
R J Cook
T W Harris
Disabled persons
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
Employee involvement
Our team are our most important asset. Our culture, values, behaviours, performance, and engagement directly
impact how the Company serves and interacts with all other stakeholders. The company's policy is to consult and discuss with employees matters likely to affect employees' interests.
We regularly communicate to our team keeping them up to speed with developments, trading, and recognizing individual performance. Bulletins are sent out by our Managing Director, and Head of Departments send out weekly updates to their teams. Twice a year we hold summit meetings where teams meet in person and have the chance to ask questions and give feedback.
We are committed to continuing to create and maintain an inclusive culture that values and respects diversity of all kinds. We also offer a benefits scheme and counseling services are also available.
The Company conducts an annual digital employee engagement survey, with resulting data analysed and presented to Head of Departments to build appropriate plans to address concerns communicated by team members.
Auditor
The auditor, Mercer & Hole LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Energy and carbon report
The table below represents TraffordCity Snowcentre Ltd’s energy use and associated greenhouse gas (GHG) emissions from electricity and fuel usage for the year ended 30th September 2024.
TRAFFORDCITY SNOWCENTRE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
2024
2023
Energy consumption
kWh
kWh
Aggregate of energy consumption in the year
- Gas combustion
913,404
865,899
- Electricity purchased
3,958,582
4,080,342
4,871,986
4,946,241
2024
2023
Emissions of CO2 equivalent
metric tonnes
metric tonnes
Scope 1 - direct emissions
- Gas combustion
167.00
158.00
- Fuel consumed for owned transport
-
-
167.00
158.00
Scope 2 - indirect emissions
- Electricity purchased
820.00
845.00
Scope 3 - other indirect emissions
- Fuel consumed for transport not owned by the company
1,029.31
1,165.00
Total gross emissions
2,016.31
2,168.00
Intensity ratio
Tonnes CO2e per employee
6.18
6.73
Intensity measurement
The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per employee, the recommended ratio for the sector.
Measures taken to improve energy efficiency
Measures taken to improve energy efficiency have been outlined in the strategic report but include investment in new more energy efficient chiller equipment and lighting.
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.
On behalf of the board
D I Brown
Director
6 June 2025
TRAFFORDCITY SNOWCENTRE LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
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.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 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.
TRAFFORDCITY SNOWCENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF TRAFFORDCITY SNOWCENTRE LIMITED
- 7 -
Opinion
We have audited the financial statements of TraffordCity Snowcentre Limited (the 'company') for the year ended 30 September 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity 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 30 September 2024 and of its 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.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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.
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.
TRAFFORDCITY SNOWCENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF TRAFFORDCITY SNOWCENTRE LIMITED (CONTINUED)
- 8 -
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.
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to breaches under health and safety and GDPR regulations and we considered the extent to which non-compliance may have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act and tax legislation.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and the financial report (including the risk of override of controls), and determined that the principle risks were related to posting inappropriate entries including journals to understate revenue or overstate expenditure, and management bias in accounting estimates.
Audit procedures performed by the engagement team included:
discussions with management, including considerations of known or suspected instances of non-compliance with laws and regulations and fraud;
evaluation of the operating effectiveness of management's controls designed to prevent and detect irregularities;
challenging assumptions and judgements made by management in its significant accounting estimates;
identifying and testing journal entries.
TRAFFORDCITY SNOWCENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF TRAFFORDCITY SNOWCENTRE LIMITED (CONTINUED)
- 9 -
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, 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 financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. 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/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's member 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 member those matters we are required to state to the member 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 member, for our audit work, for this report, or for the opinions we have formed.
Ross Lane (Senior Statutory Auditor)
For and on behalf of Mercer & Hole LLP, Statutory Auditor
Chartered Accountants
72 London Road
St Albans
Hertfordshire
AL1 1NS
9 June 2025
TRAFFORDCITY SNOWCENTRE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 10 -
2024
2023
Notes
£
£
Turnover
3
10,190,203
9,263,998
Cost of sales
(3,225,679)
(2,962,491)
Gross profit
6,964,524
6,301,507
Administrative expenses
(5,639,437)
(5,688,402)
Other operating income
1,059,117
1,012,528
Profit before taxation
2,384,204
1,625,633
Tax on profit
7
(854,679)
(364,645)
Profit for the financial year
1,529,525
1,260,988
The profit and loss account has been prepared on the basis that all operations are continuing operations.
The notes on pages 13 to 26 form part of these financial statements.
TRAFFORDCITY SNOWCENTRE LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
8
677,276
781,473
Tangible assets
9
14,896,944
15,158,938
15,574,220
15,940,411
Current assets
Stocks
10
134,860
131,062
Debtors
11
3,959,594
887,712
Cash at bank and in hand
1,441,187
2,408,886
5,535,641
3,427,660
Creditors: amounts falling due within one year
12
(18,133,330)
(18,024,470)
Net current liabilities
(12,597,689)
(14,596,810)
Total assets less current liabilities
2,976,531
1,343,601
Provisions for liabilities
Provisions
13
60,000
120,000
Deferred tax liability
14
223,077
59,672
(283,077)
(179,672)
Net assets
2,693,454
1,163,929
Capital and reserves
Called up share capital
17
100
100
Profit and loss reserves
2,693,354
1,163,829
Total equity
2,693,454
1,163,929
The notes on pages 13 to 26 form part of these financial statements.
The financial statements were approved by the board of directors and authorised for issue on 6 June 2025 and are signed on its behalf by:
R J Cook
Director
Company registration number 11270421 (England and Wales)
TRAFFORDCITY SNOWCENTRE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 12 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 October 2022
100
(97,159)
(97,059)
Year ended 30 September 2023:
Profit and total comprehensive income
-
1,260,988
1,260,988
Balance at 30 September 2023
100
1,163,829
1,163,929
Year ended 30 September 2024:
Profit and total comprehensive income
-
1,529,525
1,529,525
Balance at 30 September 2024
100
2,693,354
2,693,454
The notes on pages 13 to 26 form part of these financial statements.
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 13 -
1
Accounting policies
Company information
TraffordCity Snowcentre Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Snow Centre, St Albans Hill, Hemel Hempstead, Hertfordshire, HP3 9NH.
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.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: The disclosure requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b), 11.48(c), 12.26, 12.27, 12.29(a), 12.29(b), and 12.29A;
Section 26 ‘Share based Payment’: Share based payment arrangements required under FRS 102 paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Snowcentres Limited. These consolidated financial statements are available from its registered office, The Snow Centre, St Albans Hill, Hemel Hempstead, Hertfordshire, HP3 9NH.
1.2
Going concern
The financial statements have been prepared on the going concern basis. The company has recorded a profit before tax of £2,38true4,204 for the year ended 30 September 2024, and at the year end it has net current liabilities of £12,597,689 which is due to amounts owed to the parent company.
The directors have considered the cash and profit forecasts prepared by the company which indicate that the company will be able to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.
The financial statements do not include any adjustments which may be required should the basis of preparation turn out to be inappropriate.
1.3
Turnover
Turnover represents the amounts received from customers (excluding VAT) for admissions tickets, memberships, vouchers, retail, food and beverage sales and sponsorship.
Revenue from the sale of goods such as merchandise, food and beverages is recognised at the point of sale.
Ticket revenue is recognised at the point of entry. Revenue from memberships is deferred and then recognised over the period the membership is valid. Revenue from vouchers is deferred and then recognised when redeemed. Revenue from sponsorships is recognised over the period to which the sponsorship relates.
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 14 -
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of certain trade assets and liabilities over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
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:
Snow Centre
50 years straight line
Leasehold improvements
10 years straight line
Plant and equipment
2-3 years straight line
Fixtures and fittings
3-10 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
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.
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.
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 15 -
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 at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9
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.
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 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.
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 17 -
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
Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
1.13
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.14
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.15
Leases
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.
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 18 -
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
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.
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. The assessment of indicators of impairment require judgements to be made.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Economic useful life of intangible and tangible fixed assets
The company depreciates intangible and tangible fixed assets over their estimated economic useful lives. The useful lives are estimated by reference to historic performance as well as expectations about future use and benefit and are reviewed on a regular basis to ensure the policies remain appropriate.
3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Sale of goods
991,465
827,823
Provision of snow sports facilities
9,198,738
8,436,175
10,190,203
9,263,998
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
10,190,203
9,263,998
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
3
Turnover and other revenue
(Continued)
- 19 -
2024
2023
£
£
Other revenue
Rental income receivable
1,201,623
1,162,525
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
1,125,521
924,135
Loss/(profit) on disposal of tangible fixed assets
10,778
(40,455)
Amortisation of intangible assets
104,197
104,196
Operating lease charges
665,928
646,406
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
21,000
18,000
For other services
Taxation compliance services
4,000
4,000
6
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Management, administration and sales staff
25
29
Slope staff
270
259
Food and beverage staff
31
34
Total
326
322
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
6
Employees
(Continued)
- 20 -
Their aggregate remuneration comprised:
2024
2023
£
£
Wages and salaries
3,367,686
3,204,528
Social security costs
200,729
188,564
Pension costs
91,791
86,937
3,660,206
3,480,029
Of the above, an average of 55 (2023: 44) were employed on a full-time basis. The remainder are part-time staff.
Directors are remunerated by fellow group entity, Hemel Snowcentre Limited.
7
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
703,103
472,111
Adjustments in respect of prior periods
(11,829)
(18,110)
Total current tax
691,274
454,001
Deferred tax
Origination and reversal of timing differences
56,925
(89,356)
Adjustment in respect of prior periods
106,480
Total deferred tax
163,405
(89,356)
Total tax charge
854,679
364,645
An increase in the UK corporation tax rate from 19% to 25% (effective from 1 April 2023) was substantively enacted on 10 June 2021.The increase in the rate will apply to companies with profits over £250k. Also announced in the Budget on 3 March 2021 was the introduction of small profits rate of 19% to apply to profits under £50k with a tapered rate to apply on profits above this threshold but under £250k.
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
7
Taxation
(Continued)
- 21 -
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
2,384,204
1,625,633
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 22.01%)
596,051
357,802
Tax effect of expenses that are not deductible in determining taxable profit
14,052
Adjustments in respect of prior years
(11,829)
(18,110)
Permanent capital allowances in excess of depreciation
(8,625)
Depreciation on assets not qualifying for tax allowances
163,977
22,933
Deferred tax adjustments in respect of prior years
106,480
Effect of deferred tax being calculated at a different rate
(3,407)
Taxation charge for the year
854,679
364,645
8
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
1,041,963
Amortisation and impairment
At 1 October 2023
260,490
Amortisation charged for the year
104,197
At 30 September 2024
364,687
Carrying amount
At 30 September 2024
677,276
At 30 September 2023
781,473
More information on impairment movements in the year is given in note .
Goodwill arose on acquisition of the BEYOND activity centre in TraffordCity, Manchester which included the Chill Factore snow centre.
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 22 -
9
Tangible fixed assets
Snow Centre
Leasehold improvements
Assets under construction
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
£
£
Cost
At 1 October 2023
14,314,000
889,067
42,803
359,147
1,529,116
17,134,133
Additions
490,622
50,902
213,915
133,946
889,385
Disposals
(29,000)
(29,000)
Transfers
42,803
(42,803)
At 30 September 2024
14,314,000
1,393,492
50,902
573,062
1,663,062
17,994,518
Depreciation and impairment
At 1 October 2023
978,191
187,162
211,424
598,418
1,975,195
Depreciation charged in the year
391,271
131,237
163,208
439,805
1,125,521
Eliminated in respect of disposals
(3,142)
(3,142)
At 30 September 2024
1,369,462
315,257
374,632
1,038,223
3,097,574
Carrying amount
At 30 September 2024
12,944,538
1,078,235
50,902
198,430
624,839
14,896,944
At 30 September 2023
13,335,809
701,905
42,803
147,723
930,698
15,158,938
10
Stocks
2024
2023
£
£
Finished goods and goods for resale
134,860
131,062
11
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
91,186
104,204
Amounts owed by group undertakings
3,195,598
Other debtors
323,735
354,277
Prepayments and accrued income
349,075
429,231
3,959,594
887,712
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 23 -
12
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Trade creditors
326,053
382,374
Amounts owed to group undertakings
15,547,113
15,729,772
Corporation tax
329,586
212,591
Other taxation and social security
287,968
162,907
Deferred income
15
879,455
895,102
Other creditors
216,065
219,940
Accruals
547,090
421,784
18,133,330
18,024,470
Amounts owed to group undertakings are interest free and repayable on demand.
13
Provisions for liabilities
2024
2023
£
£
Insurance claims provision
60,000
120,000
Movements on provisions:
£
At 1 October 2023
120,000
Reversal of provision
(45,000)
Utilisation of provision
(15,000)
At 30 September 2024
60,000
14
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
226,876
68,258
Retirement benefit obligations
(3,799)
(3,885)
Other temporary timing differences
-
(4,701)
223,077
59,672
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
14
Deferred taxation
(Continued)
- 24 -
2024
Movements in the year:
£
Liability at 1 October 2023
59,672
Charge to profit or loss
163,405
Liability at 30 September 2024
223,077
The deferred tax liability set out above is not expected to reverse within 12 months and relates to accelerated capital allowances.
15
Deferred income
2024
2023
£
£
Other deferred income
879,455
895,102
Deferred income relates to membership fees, advance bookings and vouchers.
16
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
91,791
86,937
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.
17
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 25 -
18
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
628,056
628,056
Between two and five years
2,512,224
2,512,224
In over five years
64,061,712
64,689,768
67,201,992
67,830,048
Lessor
The operating leases represent leases to third parties. The leases are negotiated over terms of 1 to 34 years. All leases include a provision for rent reviews according to prevailing market conditions. There are no options in place for either party to extend the lease terms.
At the reporting end date the company had contracted with tenants for the following minimum lease payments:
2024
2023
£
£
Within one year
868,703
735,312
Between two and five years
2,577,467
2,528,370
In over five years
3,948,828
4,194,351
7,394,998
7,458,033
During the year £665,928 was recognised as an expense in the profit and loss account in respect of operating leases (2023: £646,406).
19
Capital commitments
Amounts contracted for but not provided in the financial statements:
2024
2023
£
£
Acquisition of tangible fixed assets
236,972
-
TRAFFORDCITY SNOWCENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 26 -
20
Ultimate controlling party
The company is a wholly owned subsidiary undertaking of Snowcentres Limited which is the ultimate parent company incorporated in England and Wales.
Consolidated financial statements which include the results of the company may be obtained from Companies House.
Having considered the current shareholdings of the owners of the business, the Directors do not consider there to be an ultimate controlling party of the company.
2024-09-302023-10-01falsefalsefalseCCH SoftwareCCH Accounts Production 2025.100D I BrownR J CookT W Harris112704212023-10-012024-09-3011270421bus:Director12023-10-012024-09-3011270421bus:Director22023-10-012024-09-3011270421bus:Director32023-10-012024-09-3011270421bus:RegisteredOffice2023-10-012024-09-30112704212024-09-30112704212022-10-012023-09-3011270421core:RetainedEarningsAccumulatedLosses2022-10-012023-09-3011270421core:RetainedEarningsAccumulatedLosses2023-10-012024-09-3011270421core:Goodwill2024-09-3011270421core:Goodwill2023-09-30112704212023-09-3011270421core:LandBuildingscore:OwnedOrFreeholdAssets2024-09-3011270421core:LeaseholdImprovements2024-09-3011270421core:ConstructionInProgressAssetsUnderConstruction2024-09-3011270421core:PlantMachinery2024-09-3011270421core:FurnitureFittings2024-09-3011270421core:LandBuildingscore:OwnedOrFreeholdAssets2023-09-3011270421core:LeaseholdImprovements2023-09-3011270421core:ConstructionInProgressAssetsUnderConstruction2023-09-3011270421core:PlantMachinery2023-09-3011270421core:FurnitureFittings2023-09-3011270421core:CurrentFinancialInstrumentscore:WithinOneYear2024-09-3011270421core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3011270421core:CurrentFinancialInstruments2024-09-3011270421core:CurrentFinancialInstruments2023-09-3011270421core:ShareCapital2024-09-3011270421core:ShareCapital2023-09-3011270421core:RetainedEarningsAccumulatedLosses2024-09-3011270421core:RetainedEarningsAccumulatedLosses2023-09-3011270421core:ShareCapital2022-09-3011270421core:RetainedEarningsAccumulatedLosses2022-09-3011270421core:ShareCapitalOrdinaryShareClass12024-09-3011270421core:ShareCapitalOrdinaryShareClass12023-09-3011270421core:Goodwill2023-10-012024-09-3011270421core:LandBuildingscore:OwnedOrFreeholdAssets2023-10-012024-09-3011270421core:LeaseholdImprovementscore:LeasedAssetsHeldAsLessee2023-10-012024-09-3011270421core:PlantMachinery2023-10-012024-09-3011270421core:FurnitureFittings2023-10-012024-09-3011270421core:UKTax2023-10-012024-09-3011270421core:UKTax2022-10-012023-09-301127042112023-10-012024-09-301127042112022-10-012023-09-301127042122023-10-012024-09-301127042122022-10-012023-09-3011270421core:Goodwill2023-09-3011270421core:LandBuildingscore:OwnedOrFreeholdAssets2023-09-3011270421core:LeaseholdImprovements2023-09-3011270421core:ConstructionInProgressAssetsUnderConstruction2023-09-3011270421core:PlantMachinery2023-09-3011270421core:FurnitureFittings2023-09-30112704212023-09-3011270421core:LeaseholdImprovements2023-10-012024-09-3011270421core:ConstructionInProgressAssetsUnderConstruction2023-10-012024-09-3011270421bus:OrdinaryShareClass12023-10-012024-09-3011270421bus:OrdinaryShareClass12024-09-3011270421bus:OrdinaryShareClass12023-09-3011270421core:WithinOneYear2024-09-3011270421core:WithinOneYear2023-09-3011270421core:BetweenTwoFiveYears2024-09-3011270421core:BetweenTwoFiveYears2023-09-3011270421core:MoreThanFiveYears2024-09-3011270421core:MoreThanFiveYears2023-09-3011270421bus:PrivateLimitedCompanyLtd2023-10-012024-09-3011270421bus:FRS1022023-10-012024-09-3011270421bus:Audited2023-10-012024-09-3011270421bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP