Registered number
08013456
J H Lowson & Company Limited
Report and Financial Statements
31 March 2025
J H Lowson & Company Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2-3
Strategic report 4-5
Independent auditor's report 6-7
Income statement 8
Statement of comprehensive income 9
Statement of financial position 10
Statement of changes in equity 11
Statement of cash flows 12
Notes to the financial statements 13-20
J H Lowson & Company Limited
Company Information
Directors
J H Lowson
S Bateman
Auditors
Riverside Accountancy Lancaster Limited
Suite 2, 2 Mannin Way
Lancaster Business Park
Caton Road
Lancaster
LA1 3SU
Bankers
Barclays Bank PLC
38 Market Street
Lancaster
LA1 1HR
Registered office
3rd Floor
Rosemary House
61 North Road
Lancaster
LA1 1LU
Registered number
08013456
J H Lowson & Company Limited
Registered number: 08013456
Directors' Report
The directors present their report and financial statements for the year ended 31 March 2025.
Principal activities
The company's principal activity during the year continued to be investment management and independent financial advisory services. It is making steady progress in line with director's forecasts.
Financial instrument risk
Due to the sector in which the company operates, many of the financial risks such as price and credit risk are minimised. In addition, the company operates exclusively within the United Kingdom. The directors operate tight control over expenditure to ensure that both liquidity and cash flow risks are minimised. This will continue until such time as the directors do not consider this policy to be in the best interests of the company.
Directors
The following persons served as directors during the year:
J H Lowson
S Bateman
Directors' responsibilities
The directors are responsible for preparing the report and 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 (Financial Reporting Standard 102 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 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;
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.
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and
They have taken all the steps that they ought to have taken as a director in order to make themself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board on 6 June 2025 and signed on its behalf.
J H Lowson
Director
J H Lowson & Company Limited
Strategic Report
The directors present their strategic report for the year ended 31 March 2025.
Review of the business
The company offers investment management and independent financial advisory services to retail and corporate customers.
Profit for the period: £224,188 (2024: £57,182)
Shareholders’ funds: £196,345 (2024: £148,606)
Dividends paid: £120,375 (2024: £50,858)
Revenues from Investment Management Services increased by 10%. Funds under management have increased during the period. This is largely as a result of an increase in asset values over the period but also some new business growth.
Revenues from Advisory Services also grew by about 12%. Once again, this is mainly through an increase in the asset values, with a small amount of new business.
Consultancy Services remained broadly the same - as expected for non-core services.
Overall, Company revenues increased by 12% while cost of sales decreased by 100% - as a result of the completion of and earn out agreement with a former Director in the previous period. Overheads increased by 13%, primarily due to higher staff costs.
Key performance indicators (‘KPIs’)
The Board monitors the progress of the company by reference to the following KPIs:
2025 2024
Investment Management Fees 63,720 57,626 Company’s fees levied on the funds under management.
Fees and Commissions 289,445 256,311 Fees received from investment services provided.
Consultancy fees 5,687 5,770 Fees from consulting services provided.
Retained Profit 224,188 57,182 Balance of Revenue less Expenditure for the period.
Cash and Bank Reserves 168,442 82,022 Balance of cash held in hand and at bank.
J H Lowson & Company Limited
Strategic Report
Principal risks and uncertainties
Compliance with regulatory, legal and ethical standards – the company not only has obligations under the industry regulator (Financial Conduct Authority) but also to its professional body (The Chartered Insurance Institute), which awards the firm’s Corporate Chartered Firm status. Maintaining regulatory permissions and professional recognition is a high priority for the company.
Due to the sector in which the company operates, many of the financial risks such as price and credit risk are minimised. The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. The company has developed a framework for identifying risks which focuses on the management of its capital requirements and the financial resources at its disposal to meet those costs.
The company operates exclusively within the United Kingdom and has all the usual risks associated with operating a business.
The company still has around 6.5% of Investment Management Funds Under Management that it is at risk of withdrawal (from a former business introducer). Put into perspective, the complete withdrawal of these remaining assets would result in a loss of only about 1.3% of total revenues and only about 2% of Net Profit, before tax. However, this decline has been gradual (three years so far) and is expected to continue in the same manner. The rate of withdrawal is slowing, as clients become more “sticky” (i.e. those that are less engaged with the former introducer). It is likely that withdrawals will be balanced somewhat with new clients to the Investment Management Service and the general long term increase in asset prices (increasing funds under management). We would therefore still expect to see positive growth in Investment Management revenues overall, in the long term – punctuated with short periods where revenues fall ( due to falling asset prices).
Core revenues from Advisory services are expected to follow the same long-term trend - increasing with the general rise in asset prices as well as the additional new client assets (which should more than balance any loss of assets, from natural wastage).
Operating costs are expected to remain low/non existent for the foreseeable future. Overheads are expected to increase in line with inflation (as inflationary increases are usually passed on in staffing costs, which is the largest overhead).
The company has a little under 1 year left on the office lease and is actively considering options for renewing or relocating.
Future developments
The directors expect revenues to grow in line with the increase in asset prices – which is expected to exceed inflation, over the longer term. In the short term (in the next financial period) we could see a possible reduction in revenues (because of a sharp fall in asset prices during the beginning of that period). However, it will depend on how quickly asset prices recover.
Over the longer term, the company will aim to expand the business through further acquisitions.
The company may purchase a property and relocate the head office – if a suitable option becomes available
This report was approved by the board on 6 June 2025 and signed on its behalf.
J H Lowson
Director
J H Lowson & Company Limited
Independent auditor's report
to the members of J H Lowson & Company Limited
Opinion
We have audited the financial statements of J H Lowson & Company Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the 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 March 2025 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.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The 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 the 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 (set out on pages 2 and 3), 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Review of directors minutes and review of nominal postings for legal and professional fees ensured we identified any regulatory compliance issues and laws that company must follow in the year and to the date of signing the financial statements;
The assessment of fraud was considered as low due to the segregation of duties seen, the low levels of cash handled. A review of journal entries and consideration of their appropriateness was carried out through the audit;
During the audit we speak to management, test the systems and speak to various members of the finance function to understand the entity its processes and the nature of trade to assist in determining if the financial statements are true and fair;
Challenging assumptions made by management in making their significant accounting estimates;
Reviewing financial statement disclosure and testing to supporting documentation to assess compliance with applicable laws and regulations;
The company is highly regulated by the FCA as part of the audit we review submissions in the year for compliance.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Penelope Bowden ACA
(Senior Statutory Auditor) Suite 2, 2 Mannin Way
for and on behalf of Lancaster Business Park
Riverside Accountancy Lancaster Limited Caton Road
Statutory Auditor Lancaster
06/06/2025 LA1 3SU
J H Lowson & Company Limited
Income Statement
for the year ended 31 March 2025
Notes 2025 2024
£ £
Turnover 2 358,852 319,707
Cost of sales - (138,862)
Gross profit 358,852 180,845
Administrative expenses (133,372) (118,072)
Operating profit 3 225,480 62,773
Unrealised gains on investments 671 -
Profit on the disposal of investments 675 -
Interest receivable 3,362 934
Interest payable 6 (6,000) (6,525)
Profit on ordinary activities before taxation 224,188 57,182
Tax on profit on ordinary activities 7 (56,074) (11,585)
Profit for the financial year 168,114 45,597
Statement of total recognised gains and losses
The company has no recognised gains or losses other than the profit for the above two financial years.
The notes on pages 13 to 20 form an integral part of these financial statements .
J H Lowson & Company Limited
Statement of comprehensive income
for the year ended 31 March 2025
Notes 2025 2024
£ £
Profit for the financial year 168,114 45,597
Other comprehensive income
Total comprehensive income for the year 168,114 45,597
J H Lowson & Company Limited
Statement of Changes in Equity
for the year ended 31 March 2025
Share Share Other Profit Total
capital premium reserves and loss
account
£ £ £ £ £
At 1 April 2023 45,000 - - 108,867 153,867
Profit for the financial year 45,597 45,597
Dividends (50,858) (50,858)
At 31 March 2024 45,000 - - 103,606 148,606
At 1 April 2024 45,000 - - 103,606 148,606
Profit for the financial year 168,114 168,114
Dividends (120,375) (120,375)
At 31 March 2025 45,000 - - 151,345 196,345
J H Lowson & Company Limited
Statement of Financial Position
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 9 151,113 152,103
Current assets
Debtors 10 6,980 6,698
Investments held as current assets 11 95,346 -
Cash at bank and in hand 168,442 82,022
270,768 88,720
Creditors: amounts falling due within one year 12 (168,240) (30,302)
Net current assets 102,528 58,418
Total assets less current liabilities 253,641 210,521
Creditors: amounts falling due after more than one year 13 (56,123) (60,944)
Provisions for liabilities
Deferred taxation 15 (1,173) (971)
Net assets 196,345 148,606
Capital and reserves
Called up share capital 16 45,000 45,000
Profit and loss account 17 151,345 103,606
Total equity 196,345 148,606
J H Lowson
Director
Approved by the board on 6 June 2025
The notes on pages 13 to 20 form an integral part of these financial statements .
J H Lowson & Company Limited
Statement of Cash Flows
for the year ended 31 March 2025
Notes 2025 2024
£ £
Operating activities
Profit for the financial year 225,480 62,773
Adjustments for:
Depreciation 1,328 1,524
(Increase) in debtors (282) (2,597)
(Decrease)/increase in creditors (6,758) 8,864
219,768 70,564
Interest received 3,362 934
Interest paid (6,000) (6,525)
Corporation tax paid (11,720) (13,872)
Cash generated by operating activities 205,410 51,101
Investing activities
Payments to acquire tangible fixed assets (338) (330)
Payments to acquire investments (100,000) -
Proceeds from sale of investments 6,000 -
Cash used in investing activities (94,338) (330)
Financing activities
Equity dividends paid (120,375) (50,858)
Proceeds from new loans 100,000 -
Repayment of loans (4,277) (3,733)
Cash used in financing activities (24,652) (54,591)
Net cash generated/(used)
Cash generated by operating activities 205,410 51,101
Cash used in investing activities (94,338) (330)
Cash used in financing activities (24,652) (54,591)
Net cash generated/(used) 86,420 (3,820)
Cash and cash equivalents at 1 April 82,022 85,841
Cash and cash equivalents at 31 March 168,442 82,021
Cash and cash equivalents comprise:
Cash at bank 168,442 82,022
J H Lowson & Company Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
The company’s turnover represents the value, of services supplied to clients during the period. Turnover represents fees and commissions, paid to the company during the year, including commission earned and paid on policies proposed and accepted on risk before the year end, wholly conducted in the United Kingdom
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses over their economic lives as follows:-
Goodwill straight line over economic life of 5 years
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.

Depreciation is provided on all tangible fixed assets, other than freehold land and investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold investment properties not depreciated
Leasehold building improvements straight line over the lease term of 10 years
Plant and machinery 25% reducing balance
Fixtures, fittings, and equipment 25% reducing balance
Investment property
Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in profit or loss.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with the orginal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within the borrowings in current liabilities.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Analysis of turnover 2025 2024
£ £
Investment management services 63,720 57,626
Fees and commissions 289,445 256,311
Consultancy fees 5,687 5,770
By geographical market:
UK 358,852 319,707
3 Operating profit 2025 2024
£ £
This is stated after charging:
Depreciation of owned fixed assets 1,328 1,524
Operating lease rentals - land and buildings 12,485 12,485
Auditors' remuneration for audit services 2,220 2,320
4 Directors' emoluments 2025 2024
£ £
Emoluments 60,900 28,317
Highest paid director:
Emoluments 42,010 18,900
5 Staff costs 2025 2024
£ £
Wages and salaries 73,773 65,817
Social security costs 755 (3,066)
Other pension costs 5,974 5,421
80,502 68,172
Average number of employees during the year Number Number
Directors 2 2
Administration 1 2
3 4
6 Interest payable 2025 2024
£ £
Bank loans 6,000 6,525
7 Taxation 2025 2024
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 55,872 11,720
Deferred tax:
Origination and reversal of timing differences 202 (135)
Tax on profit on ordinary activities 56,074 11,585
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2025 2024
£ £
Profit on ordinary activities before tax 224,188 57,182
Applicable rate of corporation tax in the UK 24.83% 20.08%
£ £
Profit on ordinary activities multiplied by the applicable rate of corporation tax 55,666 11,482
Effects of:
Timing differences 289 103
Disallowed expenditure 119 -
Current tax charge for period 56,074 11,585
8 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2024 30,000
At 31 March 2025 30,000
Amortisation
At 1 April 2024 30,000
At 31 March 2025 30,000
Carrying amount
At 31 March 2025 -
Goodwill was written off in equal monthly instalments over its estimated economic life of 5 years.
9 Tangible fixed assets
Investment Property Land and buildings Fixtures, fittings, tools and equipment Total
At cost At cost At cost
£ £ £ £
Cost
At 1 April 2024 148,001 4,034 9,304 161,339
Additions - - 338 338
At 31 March 2025 148,001 4,034 9,642 161,677
Depreciation
At 1 April 2024 - 3,291 5,945 9,236
Charge for the year - 403 925 1,328
At 31 March 2025 - 3,694 6,870 10,564
Carrying amount
At 31 March 2025 148,001 340 2,772 151,113
At 31 March 2024 148,001 743 3,359 152,103
10 Debtors 2025 2024
£ £
Trade debtors 2,600 300
Prepayments and accrued income 4,380 6,398
6,980 6,698
11 Investments held as current assets 2025 2024
£ £
Market Value
Unlisted investments 95,346 -
12 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loan 4,277 3,733
Other loan 100,000 -
Corporation tax 55,872 11,720
Other taxes and social security costs 1,690 978
Accruals and deferred income 6,401 13,871
168,240 30,302
The other loan is a loan from a director, interest free, repayable other than by instalments within twelve months.
13 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loan 56,123 60,944
14 Loans 2025 2024
£ £
Loans not wholly repayable within five years:
Bank loan repayment by instalments over fifteen years 60,400 64,677
Other loan repayable other than by instalments within one year 100,000 -
160,400 64,677
Analysis of maturity of debt:
Within one year or on demand 104,277 3,733
Between one and two years 4,277 3,733
Between two and five years 11,199 11,199
After five years 40,647 46,012
160,400 64,677
The bank loan is secured on leasehold property bought in 2018 on a 125 year lease, the interest rate being 4.7% over base rate per annum, the average interest rate for the year being 10% (2024: 10%)
15 Deferred taxation 2025 2024
£ £
Accelerated capital allowances 1,173 971
2025 2024
£ £
At 1 April 971 1,106
Charged/(credited) to the profit and loss account 202 (135)
At 31 March 1,173 971
16 Share capital Nominal 2025 2025 2024
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 45,000 45,000 45,000
17 Profit and loss account 2025 2024
£ £
At 1 April 103,606 108,867
Profit for the financial year 168,114 45,597
Dividends (120,375) (50,858)
At 31 March 151,345 103,606
18 Dividends 2025 2024
£ £
Dividends on ordinary shares (note 17) 120,375 50,858
19 Other financial commitments
Total future minimum lease payments under non-cancellable operating leases:
Land and buildings Land and buildings Other Other
2025 2024 2025 2024
£ £ £ £
Falling due:
within one year 12,280 12,485 - -
within two to five years - 12,280 - -
12,280 24,765 - -
20 Related party transactions
During the year the investment property was rented out to a related party at a peppercorn rate, a benefit in kind has been included within the financial statements.
During the year a director advanced a loan of £100,000 to the company (2024 - £nil), repayable other than by instalments within one year, interest free, the balance outstanding at the year end being £100,000 (2024 - £nil)
During the year a company connected to a previous director charged the company £nil (2024 - £138,862) for their share of commissions earned in the period.
21 Controlling party
The company is ultimately controlled by J H Lowson.
22 Presentation currency
The financial statements are presented in Sterling, rounded to the nearest pound.
23 Legal form of entity and country of incorporation
J H Lowson & Company Limited is a private company limited by shares and incorporated in England.
24 Principal place of business
The address of the company's principal place of business and registered office is:
3rd Floor
Rosemary House
61 North Road
Lancaster
LA1 1LU
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