WIN TAI PRINTING (UK) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Company Registration No. 05734062 (England and Wales)
WIN TAI PRINTING (UK) LIMITED
COMPANY INFORMATION
Director
Mr A W K Lin
Secretary
Mrs S C Y Lin
Company number
05734062
Registered office
Unit 1
276 Victoria Road
Stoke-On-Trent
Staffordshire
ST4 2HS
Auditor
DSG Audit
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
WIN TAI PRINTING (UK) LIMITED
CONTENTS
Page
Strategic report
1
Director's report
2
Director's responsibilities statement
3
Independent auditor's report
4 - 6
Group statement of comprehensive income
7
Group balance sheet
8
Company balance sheet
9
Group statement of changes in equity
10
Company statement of changes in equity
11
Group statement of cash flows
12
Notes to the financial statements
13 - 29
WIN TAI PRINTING (UK) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 1 -
The director presents the strategic report for the year ended 31 July 2024.
Review of the business
As reported in the Statement of Comprehensive Income, revenue for the group has seen an increase of 5.3% from £52.7m to £55.5m. Profit before tax has increased from £1.2 million to £1.4 million.
The group’s Balance Sheet remains in a healthy position and reports an increase in net assets of £1.1m from £3.6m as at 31 December 2023 to £4.7m as at 31 December 2024.
Principal risks and uncertainties
Management continually monitor the key risks facing the business such as: economic recovery, competitor pressure, interest rate movement, reliance on key supplier and loss of key personnel.
• The group strategy is to be brand led and maintain a pragmatic relationship with our major suppliers.
• We are proactive in building our commercial relationship with additional and more specialist suppliers.
• The group takes great care in controlling costs to remain competitive in the market place.
Financial key performance indicators
Management use a range of performance measures to monitor and manage the business. The key financial indicators are:-
Profit ratios – Group gross profit 13.7% (2023: 12.7%), group net profit before tax 2.5% (2023: 2.2%)
Future Developments
The group does not intend to change its activities significantly in the future.
Post Balance Sheet Events
There have been no events affecting these financial statements since the year end.
Mr A W K Lin
Director
10 June 2025
WIN TAI PRINTING (UK) LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
The director presents his annual report and financial statements for the year ended 31 July 2024.
Principal activities
The principal activity of the company continued to be that of printing and the wholesale and retail sale of food related products.
Results and dividends
The results for the year are set out on page 7.
No ordinary dividends were paid. The director does not recommend payment of a further dividend.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr A W K Lin
Financial instruments
Liquidity risk
The company manages its cash 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.
Credit risk
All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are reviewed on a regular basis and provision is made for doubtful debts when necessary.
Auditor
DSG resigned as auditor on 11 September 2024. DSG Audit were appointed on 11 September 2024 to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.
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 auditor of the company 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 auditor of the company is aware of that information.
On behalf of the board
Mr A W K Lin
Director
10 June 2025
WIN TAI PRINTING (UK) LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
The director is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
WIN TAI PRINTING (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF WIN TAI PRINTING (UK) LIMITED
- 4 -
Opinion
We have audited the financial statements of Win Tai Printing (UK) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group 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 group's and the parent company's affairs as at 31 July 2024 and of the group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
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 group and parent 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 director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director 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 director is 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 director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the director's report have been prepared in accordance with applicable legal requirements.
WIN TAI PRINTING (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF WIN TAI PRINTING (UK) LIMITED
- 5 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of director
As explained more fully in the director's responsibilities statement, the director is 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 director determines 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 director is responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the parent company or to cease operations, or has 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.
Discussions were held with and enquiries made of management and those charged with governance with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the group and parent company.
The following laws and regulations were identified as being of significance to the group and parent company:
Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, company law, tax and pensions legislation, and distributable profits legislation.
Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements including environmental regulations, health and safety legislation, trades description act and employment legislation.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the group and parent complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of entries in the nominal ledger, including journal entries and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.
WIN TAI PRINTING (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF WIN TAI PRINTING (UK) LIMITED
- 6 -
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the group and parent company's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
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 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.
Jean Ellis BA FCA CTA (Senior Statutory Auditor)
For and on behalf of DSG Audit, Statutory Auditor
Chartered Accountants
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
10 June 2025
WIN TAI PRINTING (UK) LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
55,453,094
52,692,091
Cost of sales
(47,845,661)
(45,995,440)
Gross profit
7,607,433
6,696,651
Distribution costs
(2,200)
Administrative expenses
(6,362,578)
(5,594,876)
Other operating income
166,417
73,928
Operating profit
4
1,409,072
1,175,703
Interest receivable and similar income
7
276
53
Interest payable and similar expenses
8
(88,111)
(80,127)
Fair value gains and losses on investment properties
12
112,043
78,720
Profit before taxation
1,433,280
1,174,349
Tax on profit
9
(276,876)
(224,664)
Profit for the financial year
23
1,156,404
949,685
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
The notes on pages 13 to 29 form part of these financial statements.
WIN TAI PRINTING (UK) LIMITED
GROUP BALANCE SHEET
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
2,786,437
2,150,777
Investment property
12
5,727,407
2,702,731
8,513,844
4,853,508
Current assets
Stocks
15
3,861,029
3,779,986
Debtors
16
3,190,266
2,606,879
Cash at bank and in hand
1,448,699
2,923,562
8,499,994
9,310,427
Creditors: amounts falling due within one year
17
(9,745,310)
(8,118,488)
Net current (liabilities)/assets
(1,245,316)
1,191,939
Total assets less current liabilities
7,268,528
6,045,447
Creditors: amounts falling due after more than one year
18
(2,178,720)
(2,115,223)
Provisions for liabilities
Deferred tax liability
20
361,042
300,862
(361,042)
(300,862)
Net assets
4,728,766
3,629,362
Capital and reserves
Called up share capital
22
100
100
Revaluation reserve
23
378,890
378,890
Profit and loss reserves
23
4,349,776
3,250,372
Total equity
4,728,766
3,629,362
These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.
The financial statements were approved and signed by the director and authorised for issue on 10 June 2025
10 June 2025
Mr A W K Lin
Director
Company registration number 05734062 (England and Wales)
WIN TAI PRINTING (UK) LIMITED
COMPANY BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
3,500
6,228
Investment property
12
344,793
334,750
Investments
13
240,370
240,362
588,663
581,340
Current assets
Debtors
16
651,782
612,506
Cash at bank and in hand
13,178
46,366
664,960
658,872
Creditors: amounts falling due within one year
17
(786,887)
(819,714)
Net current liabilities
(121,927)
(160,842)
Total assets less current liabilities
466,736
420,498
Creditors: amounts falling due after more than one year
18
(137,906)
(212,544)
Provisions for liabilities
Deferred tax liability
20
25,320
23,584
(25,320)
(23,584)
Net assets
303,510
184,370
Capital and reserves
Called up share capital
22
100
100
Revaluation reserve
23
57,321
57,321
Profit and loss reserves
23
246,089
126,949
Total equity
303,510
184,370
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £119,140 (2023 - £81,896 profit).
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
The financial statements were approved and signed by the director and authorised for issue on 10 June 2025
10 June 2025
Mr A W K Lin
Director
Company registration number 05734062 (England and Wales)
WIN TAI PRINTING (UK) LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024
- 10 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 August 2022
100
378,890
2,363,607
2,742,597
Year ended 31 July 2023:
Profit and total comprehensive income
-
-
949,685
949,685
Dividends
10
-
-
(62,920)
(62,920)
Balance at 31 July 2023
100
378,890
3,250,372
3,629,362
Year ended 31 July 2024:
Profit and total comprehensive income
-
-
1,156,404
1,156,404
Dividends
10
-
-
(57,000)
(57,000)
Balance at 31 July 2024
100
378,890
4,349,776
4,728,766
WIN TAI PRINTING (UK) LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024
- 11 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 August 2022
100
57,321
55,053
112,474
Year ended 31 July 2023:
Profit and total comprehensive income for the year
-
-
81,896
81,896
Dividends
10
-
-
(10,000)
(10,000)
Balance at 31 July 2023
100
57,321
126,949
184,370
Year ended 31 July 2024:
Profit and total comprehensive income
-
-
119,140
119,140
Balance at 31 July 2024
100
57,321
246,089
303,510
WIN TAI PRINTING (UK) LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2024
- 12 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
1,538,966
2,384,980
Interest paid
(88,111)
(80,127)
Income taxes paid
(260,785)
(215,870)
Net cash inflow from operating activities
1,190,070
2,088,983
Investing activities
Purchase of tangible fixed assets
(901,925)
(336,158)
Proceeds from disposal of tangible fixed assets
-
20,325
Purchase of investment property
(2,939,707)
-
Proceeds from disposal of investment property
27,074
-
Interest received
276
53
Net cash used in investing activities
(3,814,282)
(315,780)
Financing activities
Proceeds from new bank loans
-
390,234
Repayment of bank loans
1,206,349
(589,224)
Dividends paid to equity shareholders
(57,000)
(62,920)
Net cash generated from/(used in) financing activities
1,149,349
(261,910)
Net (decrease)/increase in cash and cash equivalents
(1,474,863)
1,511,293
Cash and cash equivalents at beginning of year
2,923,562
1,412,269
Cash and cash equivalents at end of year
1,448,699
2,923,562
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 13 -
1
Accounting policies
Company information
Win Tai Printing (UK) Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 1, 276 Victoria Road, Stoke-On-Trent, Staffordshire, ST4 2HS.
The group consists of Win Tai Printing (UK) Limited and all of its subsidiaries.
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.
The 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 for parent company information presented within the consolidated financial statements:
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: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
1.2
Business combinations
In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.
Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 14 -
1.3
Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company Win Tai Printing (UK) Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 31 July 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
1.4
Going concern
The accounts have been prepared on a going concern basis following group profits incurred in the year of £1,156,404 and net current liabilities of £1,245,316 at 31 July 2024.
Preparation of the accounts on a going concern basis assumes that the group and company will have sufficient funds to continue to pay its debts as and when they fall due and thus continue to trade. The directors have a reasonable expectation that the group has adequate resources to continue in operation existence for the foreseeable further based on its forecasts and projections. In making their assessment, the directors have reviewed and considered the timing of when key debts fall due and the impact these have upon expected cashflows. This has been modelled for a period of 12 months from the date of signing these financial statements.
Having due consideration to each of the above factors, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future and so the accounts are prepared on a going concern basis.
1.5
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods 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.
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.
1.6
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.
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 15 -
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:
Freehold land and buildings
Not depreciated
Leasehold improvements
10% straight line
Plant and equipment
15 - 25% reducing balance
Fixtures and fittings
15 - 25% reducing balance
Computers
15 - 25% reducing balance
Motor vehicles
20% reducing balance
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 recognised in the profit and loss account.
1.7
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.8
Fixed asset investments
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.9
Impairment of fixed assets
At each reporting period end date, the group reviews the carrying amounts of its tangible 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.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
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.
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 16 -
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.
1.10
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.
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.
1.11
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.
1.12
Financial instruments
The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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.
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 17 -
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 group 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 group after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies 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.
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.
Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 18 -
1.13
Equity instruments
Equity instruments issued by the group 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 group.
1.14
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 group’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 if, and only if, there is 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.
1.15
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.
1.16
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.17
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 leased asset are consumed.
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.
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 19 -
2
Judgements and key sources of estimation uncertainty
In the application of the group’s accounting policies, the director is 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.
There are no estimates and assumptions that are considered to have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.
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.
Valuation of investment properties
The director of the company has valued the investment properties using market data as at 31 July 2024. The director has no formal training or qualifications to value buildings. Due to this, there is a significant risk that the carrying amount of the investment properties may cause a material adjustment should they be valued by a professional.
3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Printing
171,521
21,340
Wholesale food retail
55,281,573
52,670,751
55,453,094
52,692,091
2024
2023
£
£
Turnover analysed by geographical market
United kingdom
55,453,094
52,692,091
2024
2023
£
£
Other revenue
Interest income
276
53
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 20 -
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging:
Depreciation of owned tangible fixed assets
266,265
171,967
(Profit)/loss on disposal of tangible fixed assets
-
10,075
Operating lease charges
389,838
356,548
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 group and company
3,575
3,825
Audit of the financial statements of the company's subsidiaries
17,710
11,175
21,285
15,000
6
Employees
The average monthly number of persons (including directors) employed by the group and company during the year was:
Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Employees
124
112
Their aggregate remuneration comprised:
Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
3,301,340
3,027,950
Social security costs
258,778
200,151
-
-
Pension costs
54,054
51,026
3,614,172
3,279,127
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 21 -
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
258
Other interest income
18
53
Total income
276
53
8
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
84,318
80,013
Other interest
3,793
114
Total finance costs
88,111
80,127
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
216,696
193,437
Adjustments in respect of prior periods
(13,776)
Total current tax
216,696
179,661
Deferred tax
Origination and reversal of timing differences
60,180
45,003
Total tax charge
276,876
224,664
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
9
Taxation
(Continued)
- 22 -
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
1,433,280
1,174,349
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
358,320
223,126
Tax effect of expenses that are not deductible in determining taxable profit
11,298
5,266
Tax effect of income not taxable in determining taxable profit
(31,200)
Tax effect of utilisation of tax losses not previously recognised
(2,901)
(673)
Effect of change in corporation tax rate
-
19,065
Group relief
675
Permanent capital allowances in excess of depreciation
(89,790)
9,080
Under/(over) provided in prior years
(726)
Taxation charge
276,876
224,664
10
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Interim paid
-
10,000
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 23 -
11
Tangible fixed assets
Group
Freehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 August 2023
1,400,000
23,000
718,184
386,440
139,689
214,554
2,881,867
Additions
171,217
409,174
7,878
313,656
901,925
At 31 July 2024
1,400,000
23,000
889,401
795,614
147,567
528,210
3,783,792
Depreciation and impairment
At 1 August 2023
2,300
355,351
202,308
106,691
64,440
731,090
Depreciation charged in the year
2,300
86,864
66,352
11,571
99,178
266,265
At 31 July 2024
4,600
442,215
268,660
118,262
163,618
997,355
Carrying amount
At 31 July 2024
1,400,000
18,400
447,186
526,954
29,305
364,592
2,786,437
At 31 July 2023
1,400,000
20,700
362,833
184,132
32,998
150,114
2,150,777
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 24 -
Company
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 August 2023 and 31 July 2024
5,593
24,680
30,273
Depreciation and impairment
At 1 August 2023
5,343
18,702
24,045
Depreciation charged in the year
83
2,645
2,728
At 31 July 2024
5,426
21,347
26,773
Carrying amount
At 31 July 2024
167
3,333
3,500
At 31 July 2023
250
5,978
6,228
12
Investment property
Group
Company
2024
2024
£
£
Fair value
At 1 August 2023
2,702,731
334,750
Additions through external acquisition
2,939,707
-
Disposals
(27,074)
-
Net gains or losses through fair value adjustments
112,043
10,043
At 31 July 2024
5,727,407
344,793
The investment properties were valued by the director, who is unqualified, using market data at 31 July 2024.
13
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
14
240,370
240,362
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
13
Fixed asset investments
(Continued)
- 25 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 August 2023
240,362
Additions
8
At 31 July 2024
240,370
Carrying amount
At 31 July 2024
240,370
At 31 July 2023
240,362
14
Subsidiaries
Details of the company's subsidiaries at 31 July 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Max Properties Limited
48 - 52 Penny Lane Mossley Hill, Liverpool, Merseyside, United Kingdom, L18 1DG
Ordinary
51.00
-
Just Shop Trading Limited
Unit 1 Victoria Road, Fenton, Stoke-On-Trent, England, ST4 2HS
Ordinary
100.00
-
Cheerful Links (London) Limited
48 - 52 Penny Lane Mossley Hill, Liverpool, Merseyside, United Kingdom, L18 1DG
Ordinary
80.00
-
Cheerful Links (Norwich) Limited
48 - 52 Penny Lane Mossley Hill, Liverpool, Merseyside, United Kingdom, L18 1DG
Ordinary
80.00
-
Cheerful Links Limited
Unit 1 Victoria Road, Fenton, Stoke-On-Trent, England, ST4 2HS
Ordinary
100.00
-
Cheerful Links (Manchester) Limited
Unit 1 Victoria Road, Fenton, Stoke-On-Trent, England, ST4 2HS
Ordinary
0
51.00
Win Tai NSM Limited
Unit 1 Victoria Road, Fenton, Stoke-On-Trent, England, ST4 2HS
Ordinary
100.00
-
15
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Finished goods and goods for resale
3,861,029
3,779,986
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 26 -
16
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,652,239
1,978,556
Amounts owed by group undertakings
-
-
650,093
602,262
Other debtors
1,420,281
131,693
1,689
10,244
Prepayments and accrued income
117,746
496,630
3,190,266
2,606,879
651,782
612,506
17
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
19
174,148
167,287
13,853
14,337
Trade creditors
6,000,708
5,903,693
6,363
5,546
Amounts owed to group undertakings
380,088
161,400
Corporation tax payable
216,475
260,564
20,604
2,285
Other taxation and social security
75,113
82,854
-
1,282
Other creditors
3,066,861
1,584,941
363,389
632,289
Accruals and deferred income
212,005
119,149
2,590
2,575
9,745,310
8,118,488
786,887
819,714
18
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
19
2,178,720
979,232
137,906
151,544
Other creditors
1,135,991
61,000
2,178,720
2,115,223
137,906
212,544
Amounts included above which fall due after five years are as follows:
Payable by instalments
-
64,183
-
-
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 27 -
19
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
2,352,868
1,146,519
151,759
165,881
Payable within one year
174,148
167,287
13,853
14,337
Payable after one year
2,178,720
979,232
137,906
151,544
The long-term loans are secured by fixed charges over properties 1 Victoria Road, Fenton, Stoke on Trent, ST4 2HS, 2-6 Tuley Street, Openshaw, Manchester, M11 2DY and 63-65 Strand, Bootle, Merseyside, L20 4BB.
The loan interest rates range from 2.6% to 4.6%, and all loans mature between 2039 and 2047.
There is a cross guarantee and debenture between Cheerful Links (Manchester) Limited, Cheerful Links Limited, Max Properties Limited, Tomorrow Delivery Limited and Win Tai Printing (UK) Limited dated 13 November 2019.
There is a cross guarantee and debenture between Cheerful Links (Manchester) Limited, Cheerful Links Limited and Win Tai Printing (UK) Limited dated 5 September 2018.
20
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
267,619
235,450
Investment property
93,423
65,412
361,042
300,862
Liabilities
Liabilities
2024
2023
Company
£
£
Accelerated capital allowances
875
1,650
Investment property
24,445
21,934
25,320
23,584
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
20
Deferred taxation
(Continued)
- 28 -
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 August 2023
300,862
23,584
Charge to profit or loss
60,180
1,736
Liability at 31 July 2024
361,042
25,320
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
54,054
51,026
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
22
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
23
Reserves
Profit and loss reserves
This reserve includes all current and prior period retained profits and losses.
24
Related party transactions
Included in other creditors falling due less than one year is £380,080 (2023: £80,080) due to companies related by common control.
The company has taken advantage of the reduced disclosure exemption available under Financial Reporting Standard 102 relating to the disclosure of related party transactions between wholly owned group companies.
No other transactions with related parties were undertaken such as are required to be disclosed Financial Reporting Standard 102.
25
Controlling party
The ultimate controlling party is deemed to be W K Lin by virtue of his majority shareholding.
WIN TAI PRINTING (UK) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 29 -
26
Cash generated from group operations
2024
2023
£
£
Profit after taxation
1,156,404
949,685
Adjustments for:
Taxation charged
276,876
224,664
Finance costs
88,111
80,127
Investment income
(276)
(53)
(Gain)/loss on disposal of tangible fixed assets
-
10,075
Fair value gain on investment properties
(112,043)
(78,720)
Depreciation and impairment of tangible fixed assets
266,265
171,967
Movements in working capital:
(Increase)/decrease in stocks
(81,043)
347,122
Increase in debtors
(583,387)
(1,225,609)
Increase in creditors
528,059
1,905,722
Cash generated from operations
1,538,966
2,384,980
27
Analysis of changes in net funds/(debt) - group
1 August 2023
Cash flows
31 July 2024
£
£
£
Cash at bank and in hand
2,923,562
(1,474,863)
1,448,699
Borrowings excluding overdrafts
(1,146,519)
(1,206,349)
(2,352,868)
1,777,043
(2,681,212)
(904,169)
2024-07-312023-08-01falsefalseCCH SoftwareCCH Accounts Production 2025.100Mr A W K LinMrs S C Y 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