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For the Year Ended |
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Financial Statements |
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Contents |
Page |
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Strategic Report |
1 |
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Directors' Report |
3 |
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Independent Auditor's Report to the Members |
6 |
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Consolidated Statement of Comprehensive Income |
10 |
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Consolidated Statement of Financial Position |
11 |
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Company Statement of Financial Position |
12 |
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Consolidated Statement of Changes in Equity |
13 |
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Company Statement of Changes in Equity |
14 |
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Consolidated Statement of Cash Flows |
15 |
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Notes to the Financial Statements |
16 |
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Strategic Report |
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Director |
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Directors' Report |
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Unit |
2024 |
2023 |
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Emissions from activities for which the group is responsible including combustion of fuel & operation of facilities (scope 1) |
tCO2e |
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Emissions resulting from the purchase of electricity, heat and cooling by the group for its own use (scope 2) |
tCO2e |
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Emissions from transport (scope 3) |
tCO2e |
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---- |
---- |
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Total emissions |
tCO2e |
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Total energy consumption |
kWh |
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------------ |
------------ |
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Director |
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Independent Auditor's Report to the Members of
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(Senior Statutory Auditor) |
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For and on behalf of |
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Chartered accountants & statutory auditor |
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One Express |
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1 George Leigh Street |
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Manchester |
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M4 5DL |
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Consolidated Statement of Comprehensive Income |
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2024 |
2023 |
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Note |
£ |
£ |
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Turnover |
4 |
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------------- |
------------- |
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Total turnover |
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Operating expenses |
(
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(
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------------- |
------------- |
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Operating profit |
5 |
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Other interest receivable and similar income |
9 |
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Interest payable and similar expenses |
10 |
(
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– |
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------------- |
------------- |
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Profit before taxation |
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Tax on profit |
11 |
(
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(
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------------- |
------------- |
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Profit for the financial year |
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------------- |
------------- |
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Disposals of revalued assets |
(
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– |
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------------ |
------------- |
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Total comprehensive income for the year |
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------------ |
------------- |
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Consolidated Statement of Financial Position |
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2024 |
2023 |
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Note |
£ |
£ |
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Intangible assets |
13 |
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Tangible assets |
14 |
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------------- |
------------- |
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Debtors |
16 |
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Cash at bank and in hand |
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------------- |
------------- |
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Creditors: amounts falling due within one year |
18 |
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------------- |
------------- |
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Net current assets |
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------------- |
------------- |
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Total assets less current liabilities |
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Taxation including deferred tax |
19 |
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------------- |
------------- |
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Net assets |
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------------- |
------------- |
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Called up share capital |
22 |
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Revaluation reserve |
23 |
– |
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Profit and loss account |
23 |
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------------- |
------------- |
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Shareholders funds |
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------------- |
------------- |
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Director |
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Company Statement of Financial Position |
|
2024 |
2023 |
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Note |
£ |
£ |
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Tangible assets |
14 |
– |
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Investments |
15 |
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--------- |
--------- |
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Debtors |
16 |
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Cash at bank and in hand |
|
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------------- |
------------- |
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Creditors: amounts falling due within one year |
18 |
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------------- |
------------- |
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Net current assets |
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------------- |
------------- |
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Total assets less current liabilities |
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------------- |
------------- |
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Called up share capital |
22 |
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Revaluation reserve |
23 |
– |
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Profit and loss account |
23 |
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------------- |
------------- |
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Shareholders funds |
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------------- |
------------- |
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Director |
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Consolidated Statement of Changes in Equity |
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Called up share capital |
Revaluation reserve |
Profit and loss account |
Total |
|||
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£ |
£ |
£ |
£ |
|||
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At 1 October 2022 |
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Profit for the year |
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Other comprehensive income for the year: |
||||||
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Reclassification from revaluation reserve to profit and loss account |
– |
(
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– |
||
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---- |
--------- |
------------- |
------------- |
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Total comprehensive income for the year |
– |
(
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|
|
||
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Dividends paid and payable |
12 |
– |
– |
(
|
(
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---- |
--------- |
------------- |
------------- |
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Total investments by and distributions to owners |
– |
– |
(
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(
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At 30 September 2023 |
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Profit for the year |
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Other comprehensive income for the year: |
||||||
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Disposals of revalued assets |
– |
(
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|
(
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||
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---- |
--------- |
------------- |
------------- |
|||
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Total comprehensive income for the year |
– |
(
|
|
|
||
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Dividends paid and payable |
12 |
– |
– |
(
|
(
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---- |
---- |
------------ |
------------ |
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Total investments by and distributions to owners |
– |
– |
(
|
(
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---- |
---- |
------------- |
------------- |
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At 30 September 2024 |
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– |
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---- |
---- |
------------- |
------------- |
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Company Statement of Changes in Equity |
|
Called up share capital |
Revaluation reserve |
Profit and loss account |
Total |
|||
|
£ |
£ |
£ |
£ |
|||
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At 1 October 2022 |
|
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|
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Profit for the year |
|
|
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Other comprehensive income for the year: |
||||||
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Reclassification from revaluation reserve to profit and loss account |
– |
(
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|
– |
||
|
---- |
--------- |
------------- |
------------- |
|||
|
Total comprehensive income for the year |
– |
(
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|
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|
Dividends paid and payable |
12 |
– |
– |
(
|
(
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---- |
--------- |
------------- |
------------- |
|||
|
Total investments by and distributions to owners |
– |
– |
(
|
(
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At 30 September 2023 |
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|
||
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Profit for the year |
|
|
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Other comprehensive income for the year: |
||||||
|
Disposals of revalued assets |
– |
(
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|
(
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||
|
---- |
--------- |
------------- |
------------- |
|||
|
Total comprehensive income for the year |
– |
(
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|
|
||
|
Dividends paid and payable |
12 |
– |
– |
(
|
(
|
|
|
---- |
---- |
------------ |
------------ |
|||
|
Total investments by and distributions to owners |
– |
– |
(
|
(
|
||
|
---- |
---- |
------------- |
------------- |
|||
|
At 30 September 2024 |
|
– |
|
|
||
|
---- |
---- |
------------- |
------------- |
|||
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Consolidated Statement of Cash Flows |
|
2024 |
2023 |
|
|
Note |
£ |
£ |
|
Profit for the financial year |
|
|
|
Adjustments for: |
||
|
Depreciation of tangible assets |
|
|
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Amortisation of intangible assets |
|
|
|
Other interest receivable and similar income |
(
|
(
|
|
Interest payable and similar expenses |
|
– |
|
Gains on disposal of tangible assets |
(
|
(
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|
Tax on profit |
|
|
|
Accrued expenses |
|
|
|
Changes in: |
||
|
Trade and other debtors |
(
|
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Trade and other creditors |
|
(
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|
------------- |
------------- |
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Cash generated from operations |
|
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Interest paid |
(
|
– |
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Interest received |
|
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Tax paid |
(
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(
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|
------------- |
------------- |
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Net cash from operating activities |
|
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|
------------- |
------------- |
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|
Purchase of tangible assets |
(
|
(
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|
Proceeds from sale of tangible assets |
|
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|
Purchase of intangible assets |
(
|
(
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|
------------- |
------------- |
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Net cash used in investing activities |
(
|
(
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|
------------- |
------------- |
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Payments of finance lease liabilities |
– |
(
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Dividends paid |
(
|
(
|
|
------------- |
------------- |
|
|
Net cash used in financing activities |
(
|
(
|
|
------------- |
------------- |
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|
Net increase/(decrease) in cash and cash equivalents |
|
(
|
|
|
Cash and cash equivalents at beginning of year |
29,798,827 |
31,550,782 |
|
|
------------- |
------------- |
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Cash and cash equivalents at end of year |
17 |
|
|
|
------------- |
------------- |
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|
Notes to the Financial Statements |
|
Goodwill |
- |
|
|
|
Software development costs |
- |
|
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Freehold property |
- |
|
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Property alterations |
- |
Over life of lease or 15% reducing balance
|
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Computer equipment |
- |
33% or 25% straight line
|
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Fixtures and fittings |
- |
|
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Motor vehicles |
- |
33% straight line with £4,000 residual balance
|
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Rendering of services |
|
|
|
------------- |
------------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
United Kingdom |
|
|
|
Overseas sales |
|
|
|
------------- |
------------- |
|
|
|
|
|
|
------------- |
------------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Amortisation of intangible assets |
|
|
|
Depreciation of tangible assets |
|
|
|
Gains on disposal of tangible assets |
(
|
(
|
|
Impairment of trade debtors |
50 |
64,281 |
|
Foreign exchange differences |
|
|
|
Research and development cost included in operating expenses |
|
|
|
Research and development cost capitalised (Note 13) |
10,662,725
|
11,440,949
|
|
------------- |
------------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Fees payable for the audit of the financial statements |
|
|
|
-------- |
-------- |
|
|
Taxation advisory services |
|
|
|
-------- |
-------- |
|
|
2024 |
2023 |
|
|
No. |
No. |
|
|
Administrative staff |
|
|
|
---- |
---- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
------------- |
------------- |
|
|
|
|
|
|
------------- |
------------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Remuneration |
|
|
|
Company contributions to defined contribution pension plans |
|
|
|
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
|
|
2024 |
2023 |
|
|
No. |
No. |
|
|
Defined contribution plans |
|
|
|
---- |
---- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Aggregate remuneration |
|
|
|
Company contributions to defined contribution pension plans |
|
|
|
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Interest on cash and cash equivalents |
|
|
|
Interest on bank deposits |
– |
|
|
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Interest payable on tax |
|
– |
|
--------- |
---- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
UK current tax expense |
|
|
|
Adjustments in respect of prior periods |
|
(
|
|
------------ |
------------ |
|
|
Total current tax |
|
|
|
------------ |
------------ |
|
|
Origination and reversal of timing differences |
(
|
(
|
|
Adjustment in respect of prior periods |
(
|
– |
|
------------ |
--------- |
|
|
Total deferred tax |
(
|
(
|
|
------------ |
------------ |
|
|
Tax on profit |
|
|
|
------------ |
------------ |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Profit on ordinary activities before taxation |
|
|
|
------------- |
------------- |
|
|
Profit on ordinary activities by rate of tax |
|
|
|
Adjustment to tax charge in respect of prior periods |
(121,429) |
(
|
|
Effect of expenses not deductible for tax purposes |
– |
|
|
Effect of different UK tax rates on some earnings |
25,850 |
– |
|
Other timing differences |
|
(
|
|
------------- |
------------- |
|
|
Tax on profit |
|
|
|
------------- |
------------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Dividend paid on ordinary shares |
|
|
|
------------ |
------------ |
|
|
Group |
Goodwill |
Software development costs |
Total |
|
£ |
£ |
£ |
|
|
Cost |
|||
|
At 1 Oct 2023 |
|
|
|
|
Additions |
– |
|
|
|
------------ |
------------- |
------------- |
|
|
At 30 Sep 2024 |
|
|
|
|
------------ |
------------- |
------------- |
|
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Amortisation |
|||
|
At 1 Oct 2023 |
|
|
|
|
Charge for the year |
– |
|
|
|
------------ |
------------- |
------------- |
|
|
At 30 Sep 2024 |
|
|
|
|
------------ |
------------- |
------------- |
|
|
Carrying amount |
|||
|
At 30 Sep 2024 |
– |
|
|
|
------------ |
------------- |
------------- |
|
|
At 30 Sep 2023 |
– |
|
|
|
------------ |
------------- |
------------- |
|
|
Group |
At 1 Oct 2023 |
Additions |
Disposals |
At 30 Sep 2024 |
|
£ |
£ |
£ |
£ |
|
|
Cost or Valuation |
||||
|
Freehold property |
|
– |
(
|
– |
|
Property alterations |
|
|
(
|
|
|
Computer equipment |
|
|
(
|
|
|
Fixtures and fittings |
|
|
– |
|
|
Motor vehicles |
|
– |
(
|
|
|
------------- |
--------- |
------------ |
------------- |
|
|
|
|
(
|
|
|
|
------------- |
--------- |
------------ |
------------- |
|
|
At 1 Oct 2023 |
Charge for the year |
Disposals |
At 30 Sep 2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Depreciation |
||||
|
Freehold property |
|
|
(
|
– |
|
Property alterations |
|
|
(
|
|
|
Computer equipment |
|
|
(
|
|
|
Fixtures and fittings |
|
|
– |
|
|
Motor vehicles |
|
– |
(
|
|
|
------------- |
------------ |
------------ |
------------- |
|
|
|
|
(
|
|
|
|
------------- |
------------ |
------------ |
------------- |
|
|
At 30 Sep 2024 |
At 30 Sep 2023 |
|
|
£ |
£ |
|
|
Carrying amount |
||
|
Freehold property |
– |
|
|
Property alterations |
|
|
|
Computer equipment |
|
|
|
Fixtures and fittings |
|
|
|
Motor vehicles |
|
|
|
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
|
|
Company |
At 1 Oct 2023 |
Disposals |
At 30 Sep 2024 |
|
£ |
£ |
£ |
|
|
Cost or Valuation |
|||
|
Freehold property |
|
(
|
– |
|
--------- |
--------- |
---- |
|
|
|
(
|
– |
|
|
--------- |
--------- |
---- |
|
|
At 1 Oct 2023 |
Charge for the year |
Disposals |
At 30 Sep 2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Depreciation |
||||
|
Freehold property |
|
|
(
|
– |
|
--------- |
------------ |
--------- |
---- |
|
|
|
|
(
|
– |
|
|
--------- |
------------ |
--------- |
---- |
|
|
At 30 Sep 2024 |
At 30 Sep 2023 |
|
|
£ |
£ |
|
|
Carrying amount |
||
|
Freehold property |
– |
|
|
------------ |
------------ |
|
|
– |
|
|
|
------------ |
------------ |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Contracted for but not provided for in the financial statements |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
Company |
Shares in group undertakings |
|
£ |
|
|
Cost |
|
|
At 1 Oct 2023 and 30 Sep 2024 |
|
|
--------- |
|
|
Impairment |
|
|
At 1 Oct 2023 and 30 Sep 2024 |
– |
|
--------- |
|
|
Carrying amount |
|
|
At 1 Oct 2023 and 30 Sep 2024 |
|
|
--------- |
|
|
At 30 Sep 2023 |
|
|
--------- |
|
|
Class of share |
Percentage of shares held |
|
|
Subsidiary undertakings |
||
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Trade debtors |
|
|
– |
– |
|
Amounts owed by group undertakings |
– |
– |
|
|
|
Prepayments and accrued income |
|
|
– |
– |
|
Other debtors |
|
|
|
|
|
------------- |
------------- |
------------- |
------------- |
|
|
|
|
|
|
|
|
------------- |
------------- |
------------- |
------------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Cash at bank and in hand |
|
|
|
Bank overdrafts |
(
|
(
|
|
------------- |
------------- |
|
|
|
|
|
|
------------- |
------------- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
– |
– |
|
Trade creditors |
|
|
– |
– |
|
Accruals and deferred income |
|
|
– |
– |
|
Corporation tax |
|
|
|
|
|
Social security and other taxes |
|
|
– |
– |
|
Other creditors |
|
|
– |
– |
|
------------- |
------------ |
--------- |
--------- |
|
|
|
|
|
|
|
|
------------- |
------------ |
--------- |
--------- |
|
|
Group |
Deferred tax (note 20) |
|
£ |
|
|
At 1 Oct 2023 |
|
|
Additions |
|
|
Adjustments in respect of prior periods |
(
|
|
------------ |
|
|
At 30 Sep 2024 |
|
|
------------ |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Included in provisions (note 19) |
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Accelerated capital allowances |
|
|
– |
– |
|
Deferred tax - other timing differences |
(
|
(
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
1,610,461 |
3,300,479 |
– |
– |
|
|
------------ |
------------ |
---- |
---- |
|
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
200 |
|
200 |
|
|
|
1 |
|
1 |
|
|
|
1 |
|
1 |
|
|
|
100 |
|
100 |
|
---- |
---- |
---- |
---- |
|
|
|
302 |
|
302 |
|
|
---- |
---- |
---- |
---- |
|
|
At 1 Oct 2023 |
Cash flows |
At 30 Sep 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
2,721,213 |
|
|
Bank overdrafts |
(657,582) |
(190,881) |
(848,463) |
|
------------- |
------------ |
------------- |
|
|
|
|
|
|
|
------------- |
------------ |
------------- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
Later than 5 years |
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
|
|
– |
– |
|
|
------------ |
------------ |
---- |
---- |
|