Company registration number 08451372 (England and Wales)
CHATSWORTH FORGE GROUP LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
CHATSWORTH FORGE GROUP LTD
COMPANY INFORMATION
Directors
Mr S Stephens
Mr B G Caplin
Mr N R Standen
Mr A K Wood
Mr A J Newell
Mr S H Aryan
Secretary
Mr A K Wood
Company number
08451372
Registered office
"Lunds"
Brookside Avenue
Rustington
West Sussex
BN16 3LF
Auditor
Sumer Audit
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
CHATSWORTH FORGE GROUP LTD
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Group statement of comprehensive income
9
Group statement of financial position
10
Company statement of financial position
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 30
CHATSWORTH FORGE GROUP LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The directors present the strategic report for the year ended 30 September 2024.

Strategy and business model

 

The Chatsworth Forge Group of companies are designers, manufacturers and suppliers of a wide range of engineering products covering three main sectors, namely, medical, M.O.D. and transportation.

 

The strategy of the business is twofold;

 

Business review

 

We aim to present a balanced and comprehensive review of the development and performance of the group during the year and the position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

The companies within the group continue to provide a high quality service to customers, offering a wide range of products.

We consider that our key financial performance indicators are those that communicate the financial performance and strengths of the group as a whole, these being revenue and profit.

 

The group results for the year are:

 

•    Revenue £5,468,044 (2023 - £7,328,061)

•    Gross Profit £2,027,563 (2023 - £2,539,754)

•    Operating profit / (loss) £(114,062) (2023 - £266,337)

•    Profit / (loss) before tax £(232,832) (2023 - £180,416)

•    Gross profit margin 37.08% (2023 – 34.66%)

 

 

The main trading company in the group is Lund Bros & Co Limited.

 

In January 2024 one of our largest clients, Jankel Armoring Ltd, entered administration which has had a severe impact on these accounts and our current year moving forward. We have incurred a total debt in excess of £1m for which circa £500k was provisioned for in our y/e 2023 accounts with a further provision of £513,795 which has been included in these accounts.

 

The administration has also affected the accounts due to the loss of a circa £1.5m+ order. This together with the uncertainty over the upcoming UK and USA elections, reduced business confidence within our existing clients, which in turn has reduced the revenue and profit accordingly.

 

However, despite these set backs, the board are very pleased with the accounts for the year.

 

Moving forward, in October 2024 we had the Autumn budget, which again has hit the confidence of our clients and also increased overheads for the Group as a whole. This has led to the Group showing a loss for the 6 months to March 2026 of circa £100k.

 

However, as we start the second half of the year, we are encouraged with an uptick in enquiries and orders and work for the rest of the year has been secured and should hopefully allow the Group to return to profit by the year-end.

 

Due to the ongoing concerns of the economic outlook, the directors have subsequently undertaken a thorough business review and have identified several areas where savings could be made. These have now been implemented and should give annual savings in excess of £100k.

CHATSWORTH FORGE GROUP LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -

Post pandemic, the Group invested circa £1m in new plant and vehicles, which are all nearing the end of their finance agreements over the coming 12 months. Therefore, by July 2026 this will reduce our outgoings by circa £150k per annum.

 

This will also result in circa £700k of finance having been paid, which in turn will strengthen our balance sheet.

 

Within the review, the board also explored options to increase liquidity within the Group.

 

To that extent, the directors agreed that we would re-mortgage one of our two factories at Rustington with a new facility provider in Lloyds Bank, this has realised £300k. We also have available additional credit facilities with Lloyds Bank, giving us access to a circa £750k fund. The directors have also agreed to the sale of our Goring factory, which is now deemed surplus to requirements. We have an existing tenant who has agreed to the purchase, which we are hopeful will be concluded by August 2025. The Group will net £500k from the sale.

 

With our strong balance sheet, new liquidity injection and cash flow controls in place, we are confident there are no issues with the going concern of the group as a whole.

 

There are, however, various risks and uncertainties facing the group, some of which are outside the control of the directors. For example, the uncertainties facing the UK and worldwide economies in general together with the ongoing war in Ukraine.

 

By order of the board

Mr A K Wood
Secretary
11 June 2025
CHATSWORTH FORGE GROUP LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -

The directors present their annual report and financial statements for the year ended 30 September 2024.

Principal activities

The principal activity of the group continued to be that of general engineers.

Results and dividends

The results for the year are set out on page 9.

During the year ordinary dividends were paid amounting to £60,000 (2023 - £100,000). The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr S Stephens
Mr B G Caplin
Mr L W Padley
(Resigned 3 April 2025)
Mr N R Standen
Mr A K Wood
Mr A C Anderson-Easey
(Resigned 3 April 2025)
Mr A J Newell
Mr S H Aryan
Financial instruments
Liquidity risk

The group manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the group has sufficient liquid resources to meet the operating needs of the businesses.

Interest rate risk

The group is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on floating rate deposits, bank overdrafts and loans. The group manages its cash and borrowing requirements centrally in order to ensure the group has sufficient liquid resources to service its debt.

Credit risk

Investments of cash surpluses and borrowings are made through banks and companies which must fulfil credit rating criteria approved by the Board.

 

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade receivables are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Future developments

The directors believe that there are currently no major future developments requiring disclosure that have not been stated in the strategic report.

Auditor

The auditor, Sumer Audit, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

CHATSWORTH FORGE GROUP LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
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.

By order of the board
Mr A K Wood
Secretary
11 June 2025
CHATSWORTH FORGE GROUP LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -

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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are 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. They are 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.

CHATSWORTH FORGE GROUP LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHATSWORTH FORGE GROUP LTD
- 6 -
Opinion

We have audited the financial statements of Chatsworth Forge Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, 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 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 Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 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 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 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 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. 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

CHATSWORTH FORGE GROUP LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CHATSWORTH FORGE GROUP LTD
- 7 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

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 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:

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 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 directors either intend to liquidate the parent 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.

 

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and

non-compliance with laws and regulations, our procedures included the following:

 

CHATSWORTH FORGE GROUP LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CHATSWORTH FORGE GROUP LTD
- 8 -

As a result of these procedures, we considered the opportunities and incentives that may exist within the group for fraud. We are also required to perform specific procedures to respond to the risk of management override. As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements: employment law, and compliance with the UK Companies Act.

 

In addition to the above, our procedures to respond to risks identified included the following:

 

 

Due to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.

 

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.

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.

Robin Evans BA FCA CTA DChA (Senior Statutory Auditor)
For and on behalf of Sumer Audit
17 June 2025
Chartered Accountants
Statutory Auditor
Worthing
Sumer Audit is the trading name of Sumer Auditco Limited
CHATSWORTH FORGE GROUP LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
2024
2023
Notes
£
£
Revenue
4
5,468,044
7,328,061
Cost of sales
(3,440,481)
(4,788,307)
Gross profit
2,027,563
2,539,754
Administrative expenses
(1,627,830)
(1,738,701)
Other operating income
-
3,352
Exceptional item
3
(513,795)
(538,068)
Operating (loss)/profit
6
(114,062)
266,337
Finance costs
9
(118,770)
(85,921)
(Loss)/profit before taxation
(232,832)
180,416
Tax on (loss)/profit
10
101,700
(35,542)
(Loss)/profit for the financial year
(131,132)
144,874
(Loss)/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 group statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

CHATSWORTH FORGE GROUP LTD
GROUP STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024
30 September 2024
- 10 -
2024
2023
Notes
£
£
£
£
Non-current assets
Intangible assets
12
4,862
5,721
Property, plant and equipment
13
3,360,308
3,553,566
Investments
14
4,000
4,000
3,369,170
3,563,287
Current assets
Inventories
16
125,113
320,612
Trade and other receivables
17
1,270,317
1,583,740
Cash and cash equivalents
250,842
378,749
1,646,272
2,283,101
Current liabilities
18
(1,182,108)
(1,459,565)
Net current assets
464,164
823,536
Total assets less current liabilities
3,833,334
4,386,823
Non-current liabilities
19
(1,073,421)
(1,334,078)
Provisions for liabilities
Deferred tax liability
22
263,900
365,600
(263,900)
(365,600)
Net assets
2,496,013
2,687,145
Equity
Called up share capital
24
600,099
600,099
Share premium account
750,006
750,006
Revaluation reserve
942,953
942,953
Retained earnings
202,955
394,087
Total equity
2,496,013
2,687,145

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 11 June 2025 and are signed on its behalf by:
11 June 2025
Mr S Stephens
Director
Company registration number 08451372 (England and Wales)
CHATSWORTH FORGE GROUP LTD
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024
30 September 2024
- 11 -
2024
2023
Notes
£
£
£
£
Non-current assets
Investments
14
2,894,000
2,894,000
Current assets
Trade and other receivables
17
738,734
270,212
Cash and cash equivalents
18,665
31,888
757,399
302,100
Current liabilities
18
(1,140,168)
(629,690)
Net current liabilities
(382,769)
(327,590)
Total assets less current liabilities
2,511,231
2,566,410
Non-current liabilities
19
(539,706)
(598,344)
Net assets
1,971,525
1,968,066
Equity
Called up share capital
24
600,099
600,099
Share premium account
750,006
750,006
Retained earnings
621,420
617,961
Total equity
1,971,525
1,968,066

As permitted by s408 Companies Act 2006, the company has not presented its own income statement and related notes. The company’s profit for the year was £63,459 (2023 - £48,196 profit).

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 11 June 2025 and are signed on its behalf by:
11 June 2025
Mr S Stephens
Director
Company registration number 08451372 (England and Wales)
CHATSWORTH FORGE GROUP LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 12 -
Share capital
Share premium account
Revaluation reserve
Retained earnings
Total
Notes
£
£
£
£
£
Balance at 1 October 2022
599,999
750,006
942,953
349,213
2,642,171
Year ended 30 September 2023:
Profit and total comprehensive income
-
-
-
144,874
144,874
Issue of share capital
24
100
-
0
-
-
100
Dividends
11
-
-
-
(100,000)
(100,000)
Balance at 30 September 2023
600,099
750,006
942,953
394,087
2,687,145
Year ended 30 September 2024:
Loss and total comprehensive income
-
-
-
(131,132)
(131,132)
Dividends
11
-
-
-
(60,000)
(60,000)
Balance at 30 September 2024
600,099
750,006
942,953
202,955
2,496,013
CHATSWORTH FORGE GROUP LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 13 -
Share capital
Share premium account
Retained earnings
Total
Notes
£
£
£
£
Balance at 1 October 2022
599,999
750,006
669,765
2,019,770
Year ended 30 September 2023:
Profit and total comprehensive income for the year
-
-
48,196
48,196
Issue of share capital
24
100
-
0
-
100
Dividends
11
-
-
(100,000)
(100,000)
Balance at 30 September 2023
600,099
750,006
617,961
1,968,066
Year ended 30 September 2024:
Profit and total comprehensive income
-
-
63,459
63,459
Dividends
11
-
-
(60,000)
(60,000)
Balance at 30 September 2024
600,099
750,006
621,420
1,971,525
CHATSWORTH FORGE GROUP LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 14 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
30
113,580
1,322,622
Interest paid
(118,770)
(85,921)
Income taxes (paid)/refunded
-
48,169
Net cash (outflow)/inflow from operating activities
(5,190)
1,284,870
Investing activities
Purchase of property, plant and equipment
(11,954)
(149,673)
Proceeds on disposal of property, plant and equipment
22,968
-
Loans made
(71,504)
-
Net cash used in investing activities
(60,490)
(149,673)
Financing activities
Proceeds from issue of shares
-
100
Repayment of bank loans
(61,702)
(60,583)
Payment of finance leases obligations
(202,277)
(395,087)
Dividends paid to equity shareholders
-
(500,000)
Net cash used in financing activities
(263,979)
(955,570)
Net (decrease)/increase in cash and cash equivalents
(329,659)
179,627
Cash and cash equivalents at beginning of year
378,749
199,122
Cash and cash equivalents at end of year
49,090
378,749
Relating to:
Cash at bank and in hand
250,842
378,749
Bank overdrafts included in creditors payable within one year
(201,752)
-
CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 15 -
1
Accounting policies
Company information

Chatsworth Forge Group Limited (“the company”) is a limited company domiciled and incorporated in England and Wales. The registered office is "Lunds", Brookside Avenue, Rustington, West Sussex, BN16 3LF.

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 £1.

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:

 

1.2
Basis of consolidation

The consolidated financial statements incorporate those of Chatsworth Forge Group Ltd and its subsidiaries.

 

All financial statements are made up to 30 September 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.

Wastadel Limited, a wholly-owned subsidiary, is exempt from the requirements of Companies Act 2006 relating to audit of its individual company accounts under section 479A of the Companies Act 2006 relating to subsidiary companies.

1.3
Going concern

At the balance sheet date the group shows a net current liabilities position. The directors have considered forecasts for the 12 months beyond approval of accounts and are satisfied that group trading performance and actions taken to manage working capital mean that there are adequate resources to continue trading for the upcoming year. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 16 -
1.4
Revenue

Revenue represents amounts receivable for goods and services net of VAT and trade discounts.

 

Revenue is recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed.

1.5
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.

1.6
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
15% diminishing balance per annum
1.7
Property, plant and equipment

Property, plant and equipment 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:

Land and buildings freehold
50 years straight line buildings element only
Plant and machinery
10-15% diminishing balance per annum
Fixtures, fittings & equipment
10-15% diminishing balance per annum
Motor vehicles
25% diminishing balance per annum

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.

 

Properties are maintained to such a standard that any depreciation charge on the freehold buildings would not be material to the financial statements.

1.8
Non-current investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the statement of comprehensive income.

 

In the parent company financial statements investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

1.9
Impairment of non-current assets

At each reporting period end date, the group 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).

CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 17 -
1.10
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.11
Construction contracts

Where the outcome of a construction contract or work in progress can be estimated reliably, revenue and costs are recognised by reference to the stage of completion. The stage of completion is measured by the proportion of contract costs incurred for work performed to the statement of financial position date compared to the estimated total contract costs.

 

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

1.12
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.13
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 statement of financial position when the group becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, including trade and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.14
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.

1.15
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.

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.

CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 18 -
1.16
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.17
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.18
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the group’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.

Work in progress (amounts recoverable on long-term contracts)

The directors have made key assumptions in determining the appropriate amount of income recognised in each accounting period for contracts in progress at the year end date based on stage of completion.

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 property, plant and equipment

Freehold land and buildings are maintained to such a standard that their estimated residual value is not less than their cost, therefore no depreciation is charged on freehold land and buildings as the amount would not be material.

CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 19 -
3
Exceptional item
2024
2023
£
£
Expenditure
Bad debt write-off
513,795
115,921
Amounts recoverable on long-term contracts write-off
-
422,147
513,795
538,068

The exceptional items arose due to a major client entering administration during the year, and represents the work in progress and debtors that were, as a result, irrecoverable. This event has not impact on the going concern basis detailed within note 1.3.

4
Revenue

The group's revenue is derived solely from its primary activities in manufacturing and engineering. All revenue is made within the geographical markets shown below:

2024
2023
£
£
Revenue analysed by geographical market
United Kingdom
4,994,478
7,193,771
European Union
460,630
547
Rest of world
12,936
133,743
5,468,044
7,328,061
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
6,000
6,000
Audit of the financial statements of the company's subsidiaries
27,884
21,450
33,884
27,450
6
Operating (loss)/profit
2024
2023
£
£
Operating (loss)/profit for the year is stated after charging/(crediting):
Depreciation of owned property, plant and equipment
43,117
55,683
Depreciation of property, plant and equipment held under finance leases
162,416
133,944
Profit on disposal of property, plant and equipment
(2,789)
-
Amortisation of intangible assets
859
1,010
Operating lease charges
1,633
2,012
CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 20 -
7
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
Management and Administrative
22
20
4
2
Shop Floor
53
59
-
-
Total
75
79
4
2

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
2,121,653
2,476,007
109,100
36,667
Social security costs
207,184
244,501
11,386
4,744
Pension costs
67,499
72,672
4,364
1,467
2,396,336
2,793,180
124,850
42,878
8
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
363,794
359,243
Company pension contributions to defined contribution schemes
13,249
12,272
377,043
371,515
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
59,960
67,727
Company pension contributions to defined contribution schemes
2,187
2,000

The board of directors are the key management personnel of the group.

 

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 8 (2023 - 8).

CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 21 -
9
Finance costs
2024
2023
£
£
Interest on bank overdrafts and loans
65,921
55,252
Interest on finance leases and hire purchase contracts
50,270
30,669
Other interest
2,579
-
Total finance costs
118,770
85,921
10
Taxation
2024
2023
£
£
Current tax
Adjustments in respect of prior periods
-
0
(58)
Deferred tax
Origination and reversal of timing differences
(101,700)
35,600
Total tax (credit)/charge
(101,700)
35,542

The actual (credit)/charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
(Loss)/profit before taxation
(232,832)
180,416
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 19.00% (2023: 19.00%)
(44,238)
34,279
Tax effect of expenses that are not deductible in determining taxable profit
899
2,742
Adjustments in respect of prior years
-
0
(58)
Permanent capital allowances in excess of depreciation
-
0
(10,206)
Amortisation on assets not qualifying for tax allowances
164
192
Other permanent differences
(38,230)
-
0
Deferred tax adjustments in respect of prior years
3,300
-
0
Rounding on deferred tax
2,005
(7)
Effect of change in local deferred tax rate
(25,600)
8,600
Taxation (credit)/charge
(101,700)
35,542

The group has losses totalling £830,091 (2023 - £868,001) available for carry forward against future trading profit.

CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 22 -
11
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Final paid
60,000
100,000
12
Intangible fixed assets
Group
Goodwill
Software
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
453,799
16,119
469,918
Amortisation and impairment
At 1 October 2023
453,799
10,398
464,197
Amortisation charged for the year
-
0
859
859
At 30 September 2024
453,799
11,257
465,056
Carrying amount
At 30 September 2024
-
0
4,862
4,862
At 30 September 2023
-
0
5,721
5,721
The company had no intangible fixed assets at 30 September 2024 or 30 September 2023.
CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 23 -
13
Property, plant and equipment
Group
Land and buildings freehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 October 2023
1,865,199
2,289,415
281,266
274,975
4,710,855
Additions
-
0
5,416
639
26,399
32,454
Disposals
-
0
(19,866)
-
0
(45,855)
(65,721)
At 30 September 2024
1,865,199
2,274,965
281,905
255,519
4,677,588
Depreciation and impairment
At 1 October 2023
-
0
876,031
174,097
107,161
1,157,289
Depreciation charged in the year
-
0
147,073
15,769
42,691
205,533
Eliminated in respect of disposals
-
0
(12,836)
-
0
(32,706)
(45,542)
At 30 September 2024
-
0
1,010,268
189,866
117,146
1,317,280
Carrying amount
At 30 September 2024
1,865,199
1,264,697
92,039
138,373
3,360,308
At 30 September 2023
1,865,199
1,413,384
107,169
167,814
3,553,566
The company had no property, plant and equipment at 30 September 2024 or 30 September 2023.

There is a charge held over the freehold land and buildings dated 17 May 2013.

 

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2024
2023
2024
2023
£
£
£
£
Plant and machinery
1,026,453
1,039,503
-
0
-
0
Fixtures, fittings & equipment
26,738
35,650
-
0
-
0
Motor vehicles
129,296
155,385
-
0
-
0
1,182,487
1,230,538
-
-

Freehold land and buildings were valued using the deemed cost model on the date of transition to the Triennial Review 2017 of FRS 102, being 1 October 2017. The basis of this deemed cost was two valuations conforming to International Valuation Standards under the International Valuation Standards Council, made in 2013 and 2015 by independent valuers using market based evidence for similar properties sold in the local area.

CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
13
Property, plant and equipment
(Continued)
- 24 -

Historical cost analysis of the land and buildings valued using the deemed cost mode:

 

Group
Company
2024
2023
2024
2023
£
£
£
£
Cost
746,846
746,846
-
-
Accumulated depreciation
-
-
-
-
Carrying value
746,846
746,846
-
-
14
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
15
-
0
-
0
2,890,000
2,890,000
Unlisted investments
4,000
4,000
4,000
4,000
4,000
4,000
2,894,000
2,894,000
Movements in non-current investments
Group
Investments
£
Cost or valuation
At 1 October 2023 and 30 September 2024
4,000
Carrying amount
At 30 September 2024
4,000
At 30 September 2023
4,000
Movements in non-current investments
Company
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 October 2023 and 30 September 2024
2,890,000
4,000
2,894,000
Carrying amount
At 30 September 2024
2,890,000
4,000
2,894,000
At 30 September 2023
2,890,000
4,000
2,894,000
15
Subsidiaries

Details of the company's subsidiaries at 30 September 2024 are as follows:

CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
15
Subsidiaries
(Continued)
- 25 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Chatsworth Forge & Engineering Limited
Note (a)
Ordinary
100.00
0
Lund Bros & Co Limited
Note (b)
Ordinary
0
100.00
Lund Bros (Holdings) Limited
Note (b)
Ordinary
100.00
0
Wastadel Limited
Note (a)
Ordinary
100.00
0

The registered offices of these companies are as follows:

Note (a) = Woods Way, Goring-by-sea, Worthing, West Sussex, BN12 4RE.

Note (b) = Brookside Trading Estate, Brookside Avenue, Rustington, West Sussex, BN16 3LF.

16
Inventories
Group
Company
2024
2023
2024
2023
£
£
£
£
Raw materials and consumables
125,113
320,612
-
-
17
Trade and other receivables
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade receivables
538,087
1,198,085
-
0
-
0
Gross amounts owed by contract customers
618,267
301,865
-
0
-
0
Amounts owed by group undertakings
-
-
682,470
269,982
Other receivables
66,630
31,441
56,264
230
Prepayments and accrued income
47,333
52,349
-
0
-
0
1,270,317
1,583,740
738,734
270,212
CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 26 -
18
Current liabilities
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
20
272,517
73,829
70,765
73,829
Obligations under finance leases
21
261,837
241,595
-
0
-
0
Trade payables
240,936
568,001
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
997,488
60,000
Amounts owed to undertakings in which the group has a participating interest
-
0
-
0
-
480,000
Other taxation and social security
202,316
230,350
21,057
8,335
Other payables
88,838
67,826
44,269
-
0
Accruals and deferred income
115,664
277,964
6,589
7,526
1,182,108
1,459,565
1,140,168
629,690
19
Non-current liabilities
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
20
539,706
598,344
539,706
598,344
Obligations under finance leases
21
533,715
735,734
-
0
-
0
1,073,421
1,334,078
539,706
598,344
20
Borrowings
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
610,471
672,173
610,471
672,173
Bank overdrafts
201,752
-
0
-
0
-
0
812,223
672,173
610,471
672,173
Payable within one year
272,517
73,829
70,765
73,829
Payable after one year
539,706
598,344
539,706
598,344

The bank loans and overdraft facilities, both those due within one year and those due after one year, are secured by a cross guarantee and debenture on the assets of the group, as detailed at note 25. Interest is charged on the bank loan at a rate of 2.85% above the Bank of England base rate.

CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 27 -
21
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
261,837
241,595
-
0
-
0
In two to five years
533,715
722,514
-
0
-
0
In over five years
-
0
13,220
-
0
-
0
795,552
977,329
-
-

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments. The finance lease liabilities are secured over the assets that they relate to.

22
Deferred taxation

Deferred tax assets and liabilities are offset where the group or company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
313,400
410,300
Tax losses
(222,600)
(217,000)
Revaluations
175,400
175,400
Retirement benefit obligations
(2,300)
(3,100)
263,900
365,600
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 October 2023
365,600
-
Credit to profit or loss
(101,700)
-
Liability at 30 September 2024
263,900
-
CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 28 -
23
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
67,499
72,672

Included in current liabilities is an amount of £9,981 (2023 - £12,663) due to defined contribution schemes.

 

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.

24
Share capital
Group and company
2024
2023
Ordinary share capital
£
£
Issued and fully paid
1,199,998 Ordinary A shares of 50p each
599,999
599,999
10,000 Ordinary B shares of 1p each
100
100
600,099
600,099

Ordinary shares have attached to them full voting, dividend, and capital distribution (including on winding up) rights.

25
Financial commitments, guarantees and contingent liabilities

Banking facilities are secured by a cross guarantee and debenture dated 2 May 2013 between the company, Lund Bros & Co Limited, Lund Bros (Holdings) Limited and Wastadel Limited. Chatsworth Forge & Engineering Limited also became party to the cross guarantee on 17 November 2022. The extent of the contingent liability to the company itself at the year end amounted to £Nil (2023 - £Nil).

 

Chatsworth Forge Group Limited guarantees all outstanding liabilities to which Wastadel Limited is subject as at 30 September 2024. This guarantee shall remain in force until all of the liabilities have been satisfied.

26
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2024
2023
2024
2023
£
£
£
£
Within one year
54,973
54,058
-
-
Between two and five years
94,828
142,726
-
-
149,801
196,784
-
-
CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 29 -
27
Events after the reporting date

Since the reporting date the group has undergone a reconstruction, with all shareholders exchanging their holdings in the company for shares in a new company, Lund Bros Group Ltd. As a result, Lund Bros Group Ltd has become the parent company of Chatsworth Forge Group Limited, and the ultimate parent company of that company's subsidiaries.

28
Related party transactions

At the statement of financial position date, the group owed £39,600 (2023 - £39,600) to Quaywise Limited, a connected company under the control of a director. This amount is included within other payables.

29
Directors' transactions

During the year, advances were made by the company and group to two directors amounting to £71,504 (2023 - £Nil). At the reporting date, balances due from the directors to the company totalled £55,773 (2023 - £Nil), included within other receivables.

 

The company and group also owed a total of £44,269 (2023 - £Nil) to other directors, included within current liabilities.

 

No interest is receivable or payable on any of the directors' loan balances.

 

During the year, dividends were declared to directors, who are also shareholders, totalling £60,000 (2023 - £100,000).

30
Cash generated from group operations
2024
2023
£
£
(Loss)/profit for the year after tax
(131,132)
144,874
Adjustments for:
Taxation (credited)/charged
(101,700)
35,542
Finance costs
118,770
85,921
Gain on disposal of property, plant and equipment
(2,789)
-
Amortisation and impairment of intangible assets
859
1,010
Depreciation and impairment of property, plant and equipment
205,533
189,627
Movements in working capital:
Decrease/(increase) in inventories
195,499
(106,812)
Decrease in trade and other receivables
369,196
856,911
Decrease in trade and other payables
(540,656)
(284,451)
Cash generated from operations
113,580
922,622
CHATSWORTH FORGE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 30 -
31
Analysis of changes in net debt - group
1 October 2023
Cash flows
New finance leases
30 September 2024
£
£
£
£
Cash at bank and in hand
378,749
(127,907)
-
250,842
Bank overdrafts
-
0
(201,752)
-
(201,752)
378,749
(329,659)
-
49,090
Borrowings excluding overdrafts
(672,173)
61,702
-
(610,471)
Obligations under finance leases
(977,329)
202,277
(20,500)
(795,552)
(1,270,753)
(65,680)
(20,500)
(1,356,933)
2024-09-302023-10-01falsefalseCCH SoftwareCCH Accounts Production 2025.100Mr S StephensMr B G CaplinMr L W PadleyMr N R StandenMr A C Anderson-EaseyMr A J NewellMr S H AryanMr S H AryanMr A K Woodfalse08451372bus:Consolidated2023-10-012024-09-30084513722023-10-012024-09-3008451372bus:Director12023-10-012024-09-3008451372bus:Director22023-10-012024-09-3008451372bus:Director42023-10-012024-09-3008451372bus:CompanySecretaryDirector12023-10-012024-09-3008451372bus:Director62023-10-012024-09-3008451372bus:Director72023-10-012024-09-3008451372bus:CompanySecretary12023-10-012024-09-3008451372bus:Director32023-10-012024-09-3008451372bus:Director52023-10-012024-09-3008451372bus:Director82023-10-012024-09-3008451372bus:RegisteredOffice2023-10-012024-09-3008451372bus:Consolidated2024-09-3008451372bus:Consolidated2022-10-012023-09-30084513722022-10-012023-09-30084513722024-09-3008451372core:OtherResidualIntangibleAssetsbus:Consolidated2024-09-3008451372core:OtherResidualIntangibleAssetsbus:Consolidated2023-09-3008451372core:Goodwillbus:Consolidated2024-09-3008451372core:ComputerSoftwarebus:Consolidated2024-09-3008451372core:Goodwillbus:Consolidated2023-09-3008451372core:ComputerSoftwarebus:Consolidated2023-09-3008451372bus:Consolidated2023-09-3008451372core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2024-09-3008451372core:PlantMachinerybus:Consolidated2024-09-3008451372core:FurnitureFittingsbus:Consolidated2024-09-3008451372core:MotorVehiclesbus:Consolidated2024-09-3008451372core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-09-3008451372core:PlantMachinerybus:Consolidated2023-09-3008451372core:FurnitureFittingsbus:Consolidated2023-09-3008451372core:MotorVehiclesbus:Consolidated2023-09-30084513722023-09-3008451372core:ShareCapitalbus:Consolidated2024-09-3008451372core:ShareCapitalbus:Consolidated2023-09-3008451372core:SharePremiumbus:Consolidated2024-09-3008451372core:SharePremiumbus:Consolidated2023-09-3008451372core:RevaluationReservebus:Consolidated2024-09-3008451372core:RevaluationReservebus:Consolidated2023-09-3008451372core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-09-3008451372core:ShareCapital2024-09-3008451372core:ShareCapital2023-09-3008451372core:SharePremium2024-09-3008451372core:SharePremium2023-09-3008451372core:RetainedEarningsAccumulatedLosses2024-09-3008451372core:RetainedEarningsAccumulatedLosses2023-09-3008451372core:ShareCapitalbus:Consolidated2022-09-3008451372core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-09-3008451372core:ShareCapital2022-09-3008451372core:SharePremium2022-09-3008451372core:RetainedEarningsAccumulatedLosses2022-09-3008451372core:ShareCapitalbus:Consolidated2022-10-012023-09-3008451372core:SharePremiumbus:Consolidated2022-10-012023-09-3008451372core:ShareCapital2022-10-012023-09-3008451372core:SharePremium2022-10-012023-09-3008451372bus:Consolidated2022-09-3008451372core:Goodwill2023-10-012024-09-3008451372core:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3008451372core:LandBuildingscore:OwnedOrFreeholdAssets2023-10-012024-09-3008451372core:FurnitureFittings2023-10-012024-09-3008451372core:MotorVehicles2023-10-012024-09-3008451372core:UKTaxbus:Consolidated2023-10-012024-09-3008451372core:UKTaxbus:Consolidated2022-10-012023-09-3008451372bus:Consolidated12023-10-012024-09-3008451372bus:Consolidated12022-10-012023-09-3008451372bus:Consolidated22023-10-012024-09-3008451372bus:Consolidated22022-10-012023-09-3008451372bus:Consolidated32023-10-012024-09-3008451372bus:Consolidated32022-10-012023-09-3008451372bus:Consolidated42023-10-012024-09-3008451372bus:Consolidated42022-10-012023-09-3008451372core:Goodwillbus:Consolidated2023-09-3008451372core:ComputerSoftwarebus:Consolidated2023-09-3008451372bus:Consolidated2023-09-3008451372core:Goodwillbus:Consolidated2023-10-012024-09-3008451372core:ComputerSoftwarebus:Consolidated2023-10-012024-09-3008451372core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-09-3008451372core:PlantMachinerybus:Consolidated2023-09-3008451372core:FurnitureFittingsbus:Consolidated2023-09-3008451372core:MotorVehiclesbus:Consolidated2023-09-3008451372core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-10-012024-09-3008451372core:PlantMachinerybus:Consolidated2023-10-012024-09-3008451372core:FurnitureFittingsbus:Consolidated2023-10-012024-09-3008451372core:MotorVehiclesbus:Consolidated2023-10-012024-09-3008451372core:PlantMachinery2024-09-3008451372core:PlantMachinery2023-09-3008451372core:FurnitureFittings2024-09-3008451372core:FurnitureFittings2023-09-3008451372core:MotorVehicles2024-09-3008451372core:MotorVehicles2023-09-3008451372core:UnlistedNon-exchangeTradedbus:Consolidated2024-09-3008451372core:UnlistedNon-exchangeTradedbus:Consolidated2023-09-3008451372core:UnlistedNon-exchangeTraded2024-09-3008451372core:UnlistedNon-exchangeTraded2023-09-3008451372core:Subsidiary12023-10-012024-09-3008451372core:Subsidiary22023-10-012024-09-3008451372core:Subsidiary32023-10-012024-09-3008451372core:Subsidiary42023-10-012024-09-3008451372core:Subsidiary112023-10-012024-09-3008451372core:Subsidiary222023-10-012024-09-3008451372core:Subsidiary332023-10-012024-09-3008451372core:Subsidiary442023-10-012024-09-3008451372core:CurrentFinancialInstrumentsbus:Consolidated2024-09-3008451372core:CurrentFinancialInstrumentsbus:Consolidated2023-09-3008451372core:CurrentFinancialInstruments2024-09-3008451372core:CurrentFinancialInstruments2023-09-3008451372core:WithinOneYearbus:Consolidated2024-09-3008451372core:WithinOneYearbus:Consolidated2023-09-3008451372core:CurrentFinancialInstrumentscore:WithinOneYear2024-09-3008451372core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3008451372core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2024-09-3008451372core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2023-09-3008451372core:Non-currentFinancialInstrumentscore:AfterOneYear2024-09-3008451372core:Non-currentFinancialInstrumentscore:AfterOneYear2023-09-3008451372core:Non-currentFinancialInstrumentsbus:Consolidated2024-09-3008451372core:Non-currentFinancialInstrumentsbus:Consolidated2023-09-3008451372core:Non-currentFinancialInstruments2024-09-3008451372core:Non-currentFinancialInstruments2023-09-3008451372core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2024-09-3008451372core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-09-3008451372core:WithinOneYear2024-09-3008451372core:WithinOneYear2023-09-3008451372core:BetweenTwoFiveYearsbus:Consolidated2024-09-3008451372core:BetweenTwoFiveYearsbus:Consolidated2023-09-3008451372core:BetweenTwoFiveYears2024-09-3008451372core:BetweenTwoFiveYears2023-09-3008451372core:MoreThanFiveYearsbus:Consolidated2024-09-3008451372core:MoreThanFiveYearsbus:Consolidated2023-09-3008451372core:MoreThanFiveYears2024-09-3008451372core:MoreThanFiveYears2023-09-3008451372bus:PrivateLimitedCompanyLtd2023-10-012024-09-3008451372bus:FRS1022023-10-012024-09-3008451372bus:Audited2023-10-012024-09-3008451372bus:ConsolidatedGroupCompanyAccounts2023-10-012024-09-3008451372bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP