Company registration number 07994296 (England and Wales)
AUCTUS MANAGEMENT GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
AUCTUS MANAGEMENT GROUP LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr R Toy
Mr S Harrison
Mr J Handley
Company number
07994296
Registered office
Tech Block
Gee Business Centre
Holborn Hill
Aston
Birmingham
United Kingdom
B7 5JR
Auditor
Haslehursts Limited
88 Hill Village Road
Sutton Coldfield
West Midlands
England
B75 5BE
AUCTUS MANAGEMENT GROUP LIMITED
CONTENTS
Page
Company information
1
Strategic report
2 - 3
Directors' report
4 - 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 - 12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Notes to the financial statements
16 - 32
AUCTUS MANAGEMENT GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
The directors present the strategic report for the year ended 30 September 2024.
Review of the business
We aim to present a brief but comprehensive review of our group. Our review is consistent with the size and nature of our group.
The group's strategic aim over the past year has been to further establish and develop each of our operational divisions, strengthening the diversification of the services that we offer and expand the range of support provided to the wider infrastructure sector. We remain focussed on the development of long-term partnerships via our core beliefs of respect, professionalism, inclusivity and pushing the boundaries.
This financial year saw the rail sector enter the first year of the latest five-year control period (CP7) of spend. Whilst the sector has suffered in the past with transition between control periods, the transition from CP6 to CP7 has been of particular challenge. Due to a number of impacting factors across CP6 (2019-2024), including the likes of the Co-vid 19 pandemic and unprecedent industrial action, the budgeted spend within the final six months was significantly impacted. The transition into CP7 (April 2024) was further impacted from a timing perspective due to the calling of a General Election and the associated identification of public sector funding shortfalls.
Whilst turnover for this financial year showed a marginal increase of 2% to £30.14m (2023 - £29.49m); this result included the group being required to identify opportunities outside of ‘normal’ targeted trading parameters (i.e. type and geography) due to the aforementioned CP6 to CP7 challenges.
Whilst opportunities were secured in order to feed the group’s direct cost base (elements of which are fixed), competition and delivery challenges on certain projects led to a significant erosion in margin, with a level of 16.36% delivered for the year (2023 – 24.44%). As a consequence, the group delivered an operating loss of £1.83m (2023 - £0.82m (operating profit)).
The group entered the financial year with a strong Balance Sheet position. Despite the trading challenges, the net asset position still stands at £2.22m (2023 - £3.63m); with net current assets of £1.38m. During the year the group continued on a programme of capital investment spending £0.55m across the period on predominately plant and equipment.
In July 2024, the group undertook a restructuring of the operational delivery across the business, including the amalgamation of several revenue streams into a new Technical Services division. This change, coupled with an increase in traditional activity across the sector has seen the group commence the current financial year in a significantly improved position from a trading perspective.
Beyond the group’s traditional rail customer base, work continues to be delivered in support of some of the UK’s largest infrastructure projects, including HS2, TransPennine Route Upgrade and Transport for Wales (CVL Transformation).
The group has continued to invest across the year in our people and recruitment development programmes, supporting both our clients and our own social value strategy.
Principal risks and uncertainties
Statutory and regulatory changes to worker engagement continue to be monitored for potential impact on the group and the wider UK labour market.
Future targeted industrial action (RMT) impacting on the wider UK rail and construction sector remains a key risk and uncertainty. As does any future timing issues within Network Rail in terms of the release of budget spend for CP7.
UK economic uncertainty; in terms of public sector spend and rising UK labour costs (beyond inflation) due to sector specific skills shortages, continue to create a level of risk.
Key performance indicators
The directors of the company monitor key performance indicators on an ongoing basis, particularly in relation to sales growth, margin performance, customer concentration and EBITDA.
AUCTUS MANAGEMENT GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
Mr R Toy
Director
17 June 2025
AUCTUS MANAGEMENT GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
The directors present their annual report and financial statements for the year ended 30 September 2024.
Principal activities
The principal activity of the company and group continued to be that of civil engineering and support solutions to the rail industry and wider UK infrastructure sector.
Results and dividends
The results for the year are set out on page 9.
No ordinary dividends were paid. 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 R Toy
Mr S Harrison
Mr J Handley
Auditor
The auditor, Haslehursts Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of directors' responsibilities
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the 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:
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 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.
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.
Medium-sized companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
AUCTUS MANAGEMENT GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
On behalf of the board
Mr R Toy
Director
17 June 2025
AUCTUS MANAGEMENT GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF AUCTUS MANAGEMENT GROUP LIMITED
- 6 -
Opinion
We have audited the financial statements of Auctus Management Group Limited (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 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 30 September 2024 and of the group's loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
AUCTUS MANAGEMENT GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF AUCTUS MANAGEMENT GROUP LIMITED
- 7 -
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:
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 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.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
We obtained an understanding of the company’s legal and regulatory framework and the industry in which it operates. We considered the risk of acts by the company that might have contravened applicable laws and regulations, including fraud. Our audit procedures were designed to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by way of forgery, intentional representations or through collusion.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and third party company representatives. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
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.
AUCTUS MANAGEMENT GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF AUCTUS MANAGEMENT GROUP LIMITED
- 8 -
Stuart Penfold (Senior Statutory Auditor)
For and on behalf of Haslehursts Limited, Statutory Auditor
Chartered Accountants
88 Hill Village Road
Sutton Coldfield
West Midlands
B75 5BE
England
23 June 2025
AUCTUS MANAGEMENT GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
2024
2023
Notes
£
£
Turnover
3
30,138,199
29,493,159
Cost of sales
(25,207,083)
(22,282,709)
Gross profit
4,931,116
7,210,450
Administrative expenses
(6,832,661)
(6,358,055)
Other operating income
85,872
8,433
Operating (loss)/profit
5
(1,815,673)
860,828
Interest payable and similar expenses
8
(15,562)
(11,785)
Amounts written off investments
9
(3,655)
(28,509)
(Loss)/profit before taxation
(1,834,890)
820,534
Tax on (loss)/profit
10
434,706
(225,066)
(Loss)/profit for the financial year
26
(1,400,184)
595,468
(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.
AUCTUS MANAGEMENT GROUP LIMITED
GROUP STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
Tangible assets
12
1,205,822
924,396
1,205,822
924,396
Current assets
Stocks
15
283,241
227,100
Debtors
16
5,009,716
4,446,648
Cash at bank and in hand
150,778
2,024,262
5,443,735
6,698,010
Creditors: amounts falling due within one year
17
(4,066,023)
(3,733,706)
Net current assets
1,377,712
2,964,304
Total assets less current liabilities
2,583,534
3,888,700
Creditors: amounts falling due after more than one year
18
(80,340)
(60,505)
Provisions for liabilities
Deferred tax liability
20
275,975
200,792
(275,975)
(200,792)
Net assets
2,227,219
3,627,403
Capital and reserves
Called up share capital
22
618
618
Share premium account
23
187,692
187,692
Capital redemption reserve
24
41
41
Other reserves
26
26
Profit and loss reserves
26
2,038,842
3,439,026
Total equity
2,227,219
3,627,403
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 17 June 2025 and are signed on its behalf by:
17 June 2025
Mr R Toy
Director
Company registration number 07994296 (England and Wales)
AUCTUS MANAGEMENT GROUP LIMITED
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024
30 September 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
217,822
222,789
Investments
13
516,583
516,582
734,405
739,371
Current assets
Stocks
15
13,847
-
Debtors
16
707,566
683,210
Cash at bank and in hand
43,884
159,620
765,297
842,830
Creditors: amounts falling due within one year
17
(1,160,519)
(893,719)
Net current liabilities
(395,222)
(50,889)
Total assets less current liabilities
339,183
688,482
Provisions for liabilities
Deferred tax liability
20
28,975
26,240
(28,975)
(26,240)
Net assets
310,208
662,242
Capital and reserves
Called up share capital
22
618
618
Share premium account
23
187,692
187,692
Capital redemption reserve
24
41
41
Other reserves
26
26
Profit and loss reserves
26
121,831
473,865
Total equity
310,208
662,242
AUCTUS MANAGEMENT GROUP LIMITED
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 12 -
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £352,034 (2023 - £70,055 profit).
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
The financial statements were approved by the board of directors and authorised for issue on 17 June 2025 and are signed on its behalf by:
17 June 2025
Mr R Toy
Director
Company registration number 07994296 (England and Wales)
AUCTUS MANAGEMENT GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 13 -
Share capital
Share premium account
Capital redemption reserve
Treasury shares
Profit and loss reserves
Total
£
£
£
£
£
£
Balance at 1 October 2022
618
187,692
41
26
2,843,558
3,031,935
Year ended 30 September 2023:
Profit and total comprehensive income
-
-
-
-
595,468
595,468
Balance at 30 September 2023
618
187,692
41
26
3,439,026
3,627,403
Year ended 30 September 2024:
Loss and total comprehensive income
-
-
-
-
(1,400,184)
(1,400,184)
Balance at 30 September 2024
618
187,692
41
26
2,038,842
2,227,219
AUCTUS MANAGEMENT GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 14 -
Share capital
Share premium account
Capital redemption reserve
Treasury shares
Profit and loss reserves
Total
£
£
£
£
£
£
Balance at 1 October 2022
618
187,692
41
26
403,810
592,187
Year ended 30 September 2023:
Profit and total comprehensive income for the year
-
-
-
-
70,055
70,055
Balance at 30 September 2023
618
187,692
41
26
473,865
662,242
Year ended 30 September 2024:
Profit and total comprehensive income
-
-
-
-
(352,034)
(352,034)
Balance at 30 September 2024
618
187,692
41
26
121,831
310,208
AUCTUS MANAGEMENT GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 15 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
30
(1,202,458)
2,083,993
Interest paid
(15,562)
(11,785)
Income taxes paid
(132,455)
(267,439)
Net cash (outflow)/inflow from operating activities
(1,350,475)
1,804,769
Investing activities
Purchase of tangible fixed assets
(551,701)
(669,005)
Proceeds from disposal of tangible fixed assets
-
14,160
Proceeds from disposal of subsidiaries, net of cash disposed
(3,655)
(28,509)
Net cash used in investing activities
(555,356)
(683,354)
Financing activities
Repayment of bank loans
-
(63,016)
Payment of finance leases obligations
32,347
109,464
Net cash generated from financing activities
32,347
46,448
Net (decrease)/increase in cash and cash equivalents
(1,873,484)
1,167,863
Cash and cash equivalents at beginning of year
2,024,262
856,399
Cash and cash equivalents at end of year
150,778
2,024,262
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 16 -
1
Accounting policies
Company information
Auctus Management Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is .
The group consists of Auctus Management Group 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;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
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.
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 17 -
1.3
Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company Auctus Management Group 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 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.
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
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.5
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Turnover for labour based construction and service activities is recognised at the point in which the service has been provided in full and that income can be reliably measured.
Other turnover such as track warning systems are recognised at the point in which the goods have been delivered to the customer such that the significant risk and rewards of ownership have transferred to the buyer.
1.6
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.7
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.
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 18 -
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:
Leasehold improvements
Straight line over the period of the lease
Plant and equipment
20% straight line on cost
Fixtures and fittings
20% straight line on cost
Computers
20% straight line on cost
Motor vehicles
20% straight line on cost
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 income statement.
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, associates and jointly controlled entities 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 and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
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.
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.
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.
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 19 -
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 statement of financial position 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.
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.
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 20 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
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 income statement 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.
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 21 -
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 income statement, 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
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.
1.18
Short term debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loan's receivable is measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 22 -
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.
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.
Depreciation and residual values
The Directors have reviewed the asset lives and associated residual values of all fixed asset calculations and has concluded that asset lives and residual values are appropriate.
Accrued income provisions
The Directors have reviewed the basis for the recognition of accrued income and have concluded that the provision is an accurate estimate of revenue earned in the current financial year, but invoiced to customers in the following year.
3
Turnover
2024
2023
£
£
Turnover analysed by class of business
Rail and Construction Industry Services
30,138,199
29,493,159
4
Exceptional item
2024
2023
£
£
Expenditure
Exceptional item
109,632
-
109,632
-
During the current year, the group made internal changes which lead to exceptional staff costs.
5
Operating (loss)/profit
2024
2023
£
£
Operating (loss)/profit for the year is stated after charging:
Fees payable to the group's auditor for the audit of the group's financial statements
15,765
9,464
Depreciation of owned tangible fixed assets
270,275
443,773
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 23 -
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
Direct
110
116
3
2
Administration
76
72
26
25
Directors
3
3
3
3
Total
189
191
32
30
Their aggregate remuneration comprised:
Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
10,433,446
10,253,854
1,413,436
1,457,800
Social security costs
1,083,756
1,055,145
153,220
162,786
Pension costs
249,413
179,061
101,856
34,565
11,766,615
11,488,060
1,668,512
1,655,151
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
186,697
186,016
Company pension contributions to defined contribution schemes
77,784
10,892
264,481
196,908
8
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
15,562
11,785
9
Amounts written off investments
2024
2023
£
£
Other gains and losses
(3,655)
(28,509)
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 24 -
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
137,868
Adjustments in respect of prior periods
(137,868)
Total current tax
(137,868)
137,868
Deferred tax
Origination and reversal of timing differences
(296,838)
87,198
Total tax (credit)/charge
(434,706)
225,066
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
(1,834,890)
820,534
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 22.01%)
(458,723)
180,600
Tax effect of expenses that are not deductible in determining taxable profit
6,877
12,418
Unutilised tax losses carried forward
371,171
Adjustments in respect of prior years
(137,868)
Permanent capital allowances in excess of depreciation
(70,752)
(55,150)
Deferred tax charge
(296,838)
87,198
Losses utilised in year
151,427
Taxation (credit)/charge
(434,706)
225,066
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
100,000
Amortisation and impairment
At 1 October 2023 and 30 September 2024
100,000
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
11
Intangible fixed assets
(Continued)
- 25 -
Carrying amount
At 30 September 2024
At 30 September 2023
The company had no intangible fixed assets at 30 September 2024 or 30 September 2023.
12
Tangible fixed assets
Group
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 October 2023
273,508
1,586,511
113,626
272,937
17,221
2,263,803
Additions
475,103
25,646
50,952
551,701
At 30 September 2024
273,508
2,061,614
139,272
323,889
17,221
2,815,504
Depreciation and impairment
At 1 October 2023
82,693
928,717
69,813
240,963
17,221
1,339,407
Depreciation charged in the year
38,424
199,091
15,265
17,495
270,275
At 30 September 2024
121,117
1,127,808
85,078
258,458
17,221
1,609,682
Carrying amount
At 30 September 2024
152,391
933,806
54,194
65,431
1,205,822
At 30 September 2023
190,815
657,794
43,813
31,974
924,396
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
12
Tangible fixed assets
(Continued)
- 26 -
Company
Leasehold improvements
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2023
273,508
272,937
15,900
562,345
Additions
50,952
50,952
At 30 September 2024
273,508
323,889
15,900
613,297
Depreciation and impairment
At 1 October 2023
82,693
240,963
15,900
339,556
Depreciation charged in the year
38,424
17,495
55,919
At 30 September 2024
121,117
258,458
15,900
395,475
Carrying amount
At 30 September 2024
152,391
65,431
217,822
At 30 September 2023
190,815
31,974
222,789
13
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
14
516,583
516,582
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 October 2023
516,582
Additions
3
Disposals
(2)
At 30 September 2024
516,583
Carrying amount
At 30 September 2024
516,583
At 30 September 2023
516,582
14
Subsidiaries
Details of the company's subsidiaries at 30 September 2024 are as follows:
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
14
Subsidiaries
(Continued)
- 27 -
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
RSS Infrastructure Limited
Tech Block Gee Business Centre, Holborn Hill, Aston, Birmingham, England, B7 5JR
Rail safety solutions and contingent labour
Ordinary
100.00
RSS Infrastructure Solutions Limited
Tech Block Gee Business Centre, Holborn Hill, Aston, Birmingham, England, B7 5JR
Dormant Company
Ordinary
100.00
Infra Health Limited
Tech Block Gee Business Centre, Holborn Hill, Aston, Birmingham, England, B7 5JR
Dormant Company
Ordinary
100.00
Auctus Infra Skills Limited
Tech Block Gee Business Centre, Holborn Hill, Aston, Birmingham, England, B7 5JR
Dormant Company
Ordinary
100.00
15
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Raw materials and consumables
283,241
227,100
13,847
-
16
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
2,459,008
2,735,039
106,067
116,654
Corporation tax recoverable
133,305
Amounts owed by group undertakings
-
-
-
99,720
Other debtors
218,871
218,481
216,933
214,627
Prepayments and accrued income
1,827,361
1,493,128
272,723
252,209
4,638,545
4,446,648
595,723
683,210
Deferred tax asset (note 20)
371,171
111,843
5,009,716
4,446,648
707,566
683,210
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 28 -
17
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Obligations under finance leases
19
182,896
170,384
Trade creditors
2,405,288
1,693,821
145,875
232,247
Amounts owed to group undertakings
595,416
Corporation tax payable
137,868
Other taxation and social security
495,338
738,617
266,207
506,927
Other creditors
452,880
188,039
4,714
6,107
Accruals and deferred income
529,621
804,977
148,307
148,438
4,066,023
3,733,706
1,160,519
893,719
18
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Obligations under finance leases
19
80,340
60,505
19
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
182,896
170,384
In two to five years
80,340
60,505
263,236
230,889
-
-
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. The average lease term is 2 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 29 -
20
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Group
£
£
£
£
Accelerated capital allowances
275,975
200,792
-
-
Tax losses
-
-
371,171
-
275,975
200,792
371,171
-
Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Company
£
£
£
£
Accelerated capital allowances
28,975
26,240
-
-
Tax losses
-
-
111,843
-
28,975
26,240
111,843
-
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 October 2023
200,792
26,240
Credit to profit or loss
(295,988)
(109,108)
Asset at 30 September 2024
(95,196)
(82,868)
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
249,413
179,061
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.
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 30 -
22
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 1p each
61,811
61,811
618
618
23
Share premium account
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning and end of the year
187,692
187,692
187,692
187,692
24
Capital redemption reserve
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning and end of the year
41
41
41
41
25
Treasury shares
2024
2023
Group and company
£
£
At the beginning and end of the year
26
26
26
Profit and loss reserves
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning of the year
3,439,026
2,843,558
473,865
403,810
Profit/(loss) for the year
(1,400,184)
595,468
(352,034)
70,055
At the end of the year
2,038,842
3,439,026
121,831
473,865
27
Financial commitments, guarantees and contingent liabilities
Cross guarantees exist between the company and RSS Infrastructure Limited under which each company has guaranteed certain debts of the other.
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 31 -
28
Operating lease commitments
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
477,220
235,195
263,410
181,995
Between two and five years
1,113,071
671,479
628,610
619,824
In over five years
35,177
33,032
-
33,032
1,625,468
939,706
892,020
834,851
29
Directors' transactions
Description
% Rate
Opening balance
Closing balance
£
£
Mr R Toy - Loan from company
-
77,494
77,494
Mr S Harrison - Loan from company
-
85,243
85,243
162,737
162,737
No interest is being charged in respect of the above loans to Directors.
30
Cash (absorbed by)/generated from group operations
2024
2023
£
£
(Loss)/profit after taxation
(1,400,184)
595,468
Adjustments for:
Taxation (credited)/charged
(434,706)
225,066
Finance costs
15,562
11,785
Depreciation and impairment of tangible fixed assets
270,275
443,773
Other gains and losses
3,655
28,509
Movements in working capital:
(Increase)/decrease in stocks
(56,141)
18,325
(Increase)/decrease in debtors
(58,592)
584,440
Increase in creditors
457,673
176,627
Cash (absorbed by)/generated from operations
(1,202,458)
2,083,993
AUCTUS MANAGEMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 32 -
31
Analysis of changes in net funds/(debt) - group
1 October 2023
Cash flows
30 September 2024
£
£
£
Cash at bank and in hand
2,024,262
(1,873,484)
150,778
Obligations under finance leases
(230,889)
(32,347)
(263,236)
1,793,373
(1,905,831)
(112,458)
2024-09-302023-10-01falsefalseCCH SoftwareCCH Accounts Production 2025.100Mr R ToyMr S HarrisonMr J Handleyfalse07994296bus:Consolidated2023-10-012024-09-30079942962023-10-012024-09-3007994296bus:Director12023-10-012024-09-3007994296bus:Director22023-10-012024-09-3007994296bus:Director32023-10-012024-09-3007994296bus:RegisteredOffice2023-10-012024-09-30079942962024-09-3007994296bus:Consolidated2024-09-3007994296bus:Consolidated2022-10-012023-09-30079942962022-10-012023-09-3007994296bus:Consolidated2023-09-3007994296core:Goodwillbus:Consolidated2024-09-3007994296core:Goodwillbus:Consolidated2023-09-30079942962023-09-3007994296core:LeaseholdImprovementsbus:Consolidated2024-09-3007994296core:PlantMachinerybus:Consolidated2024-09-3007994296core:FurnitureFittingsbus:Consolidated2024-09-3007994296core:ComputerEquipmentbus:Consolidated2024-09-3007994296core:MotorVehiclesbus:Consolidated2024-09-3007994296core:LeaseholdImprovementsbus:Consolidated2023-09-3007994296core:PlantMachinerybus:Consolidated2023-09-3007994296core:FurnitureFittingsbus:Consolidated2023-09-3007994296core:ComputerEquipmentbus:Consolidated2023-09-3007994296core:MotorVehiclesbus:Consolidated2023-09-3007994296core:LeaseholdImprovements2024-09-3007994296core:ComputerEquipment2024-09-3007994296core:MotorVehicles2024-09-3007994296core:LeaseholdImprovements2023-09-3007994296core:ComputerEquipment2023-09-3007994296core:MotorVehicles2023-09-3007994296core:ShareCapitalbus:Consolidated2024-09-3007994296core:ShareCapitalbus:Consolidated2023-09-3007994296core:SharePremiumbus:Consolidated2024-09-3007994296core:SharePremiumbus:Consolidated2023-09-3007994296core:CapitalRedemptionReservebus:Consolidated2024-09-3007994296core:CapitalRedemptionReservebus:Consolidated2023-09-3007994296core:OtherMiscellaneousReservebus:Consolidated2024-09-3007994296core:OtherMiscellaneousReservebus:Consolidated2023-09-3007994296core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-09-3007994296core:ShareCapital2024-09-3007994296core:ShareCapital2023-09-3007994296core:SharePremium2024-09-3007994296core:SharePremium2023-09-3007994296core:CapitalRedemptionReserve2024-09-3007994296core:CapitalRedemptionReserve2023-09-3007994296core:OtherMiscellaneousReserve2024-09-3007994296core:OtherMiscellaneousReserve2023-09-3007994296core:RetainedEarningsAccumulatedLosses2024-09-3007994296core:RetainedEarningsAccumulatedLosses2023-09-3007994296core:ShareCapitalbus:Consolidated2022-09-3007994296core:SharePremiumbus:Consolidated2022-09-3007994296core:CapitalRedemptionReservebus:Consolidated2022-09-30079942962022-09-3007994296core:RetainedEarningsAccumulatedLossesbus:Consolidated2024-09-3007994296core:ShareCapital2022-09-3007994296core:SharePremium2022-09-3007994296core:CapitalRedemptionReserve2022-09-3007994296core:RetainedEarningsAccumulatedLosses2022-09-3007994296bus:Consolidated2022-09-3007994296core:Goodwill2023-10-012024-09-3007994296core:LeaseholdImprovements2023-10-012024-09-3007994296core:PlantMachinery2023-10-012024-09-3007994296core:FurnitureFittings2023-10-012024-09-3007994296core:ComputerEquipment2023-10-012024-09-3007994296core:MotorVehicles2023-10-012024-09-3007994296core:UKTaxbus:Consolidated2023-10-012024-09-3007994296core:UKTaxbus:Consolidated2022-10-012023-09-3007994296bus:Consolidated12023-10-012024-09-3007994296bus:Consolidated12022-10-012023-09-3007994296bus:Consolidated22023-10-012024-09-3007994296bus:Consolidated22022-10-012023-09-3007994296core:Goodwillbus:Consolidated2023-09-3007994296core:LeaseholdImprovementsbus:Consolidated2023-09-3007994296core:PlantMachinerybus:Consolidated2023-09-3007994296core:FurnitureFittingsbus:Consolidated2023-09-3007994296core:ComputerEquipmentbus:Consolidated2023-09-3007994296core:MotorVehiclesbus:Consolidated2023-09-3007994296bus:Consolidated2023-09-3007994296core:LeaseholdImprovements2023-09-3007994296core:ComputerEquipment2023-09-3007994296core:MotorVehicles2023-09-30079942962023-09-3007994296core:LeaseholdImprovementsbus:Consolidated2023-10-012024-09-3007994296core:PlantMachinerybus:Consolidated2023-10-012024-09-3007994296core:FurnitureFittingsbus:Consolidated2023-10-012024-09-3007994296core:ComputerEquipmentbus:Consolidated2023-10-012024-09-3007994296core:MotorVehiclesbus:Consolidated2023-10-012024-09-3007994296core:Subsidiary12023-10-012024-09-3007994296core:Subsidiary22023-10-012024-09-3007994296core:Subsidiary32023-10-012024-09-3007994296core:Subsidiary42023-10-012024-09-3007994296core:Subsidiary112023-10-012024-09-3007994296core:Subsidiary222023-10-012024-09-3007994296core:Subsidiary332023-10-012024-09-3007994296core:Subsidiary442023-10-012024-09-3007994296core:CurrentFinancialInstruments2024-09-3007994296core:CurrentFinancialInstruments2023-09-3007994296core:CurrentFinancialInstrumentsbus:Consolidated2024-09-3007994296core:CurrentFinancialInstrumentsbus:Consolidated2023-09-3007994296core:Non-currentFinancialInstrumentsbus:Consolidated2024-09-3007994296core:Non-currentFinancialInstrumentsbus:Consolidated2023-09-3007994296core:Non-currentFinancialInstruments2024-09-3007994296core:Non-currentFinancialInstruments2023-09-3007994296core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2024-09-3007994296core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-09-3007994296core:CurrentFinancialInstrumentscore:WithinOneYear2024-09-3007994296core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3007994296core:WithinOneYearbus:Consolidated2024-09-3007994296core:WithinOneYearbus:Consolidated2023-09-3007994296core:WithinOneYear2024-09-3007994296core:WithinOneYear2023-09-3007994296core:BetweenTwoFiveYearsbus:Consolidated2024-09-3007994296core:BetweenTwoFiveYearsbus:Consolidated2023-09-3007994296core:BetweenTwoFiveYears2024-09-3007994296core:BetweenTwoFiveYears2023-09-3007994296bus:PrivateLimitedCompanyLtd2023-10-012024-09-3007994296bus:FRS1022023-10-012024-09-3007994296bus:Audited2023-10-012024-09-3007994296bus:ConsolidatedGroupCompanyAccounts2023-10-012024-09-3007994296bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP