REGISTERED NUMBER: 00398662 (England and Wales) |
GROUP STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
E.V. NAISH LIMITED |
REGISTERED NUMBER: 00398662 (England and Wales) |
GROUP STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
E.V. NAISH LIMITED |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Directors | 4 |
Report of the Independent Auditors | 6 |
Consolidated Income Statement | 10 |
Consolidated Other Comprehensive Income | 11 |
Consolidated Balance Sheet | 12 |
Company Balance Sheet | 13 |
Consolidated Statement of Changes in Equity | 14 |
Company Statement of Changes in Equity | 15 |
Consolidated Cash Flow Statement | 16 |
Notes to the Consolidated Cash Flow Statement | 17 |
Notes to the Consolidated Financial Statements | 18 |
E.V. NAISH LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
Windover House |
St. Ann Street |
Salisbury |
SP1 2DR |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
The directors present their strategic report of the company and the group for the year ended 30 September 2024. |
REVIEW OF BUSINESS |
The results for the year and financial position of the company and the group are as shown in the annexed financial statements. |
The company continued to supply plant, equipment and vehicles for hire, rent property and support the activities of its wholly owned subsidiaries during the year under review. The activities of all subsidiaries remained unchanged during the year. |
The key financial highlights of the group are as follows: |
2024 | 2023 |
Consolidated turnover | £17.0m | £18.1m |
Gross profit margin | 23.4% | 28.6% |
Consolidated net assets | £17.8m | £16.5m |
Capital expenditure | £500k | £778k |
The directors consider the profit achieved on ordinary activities before taxation and the state of the group's affairs to be satisfactory. The group continued to strategically invest in the appropriate resources in order to maximise the commercial opportunities available. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The management of the business and the execution of the group's strategy are subject to a number of risks, |
especially in the current economic and political climate. |
During the year, there has been pressure on labour costs with the increase in the minimum wage in April 2024 of virtually 10%, and this has been followed in April 2025 with a further 6.7% increase, plus the added costs to employers of the changes in National Insurance. Regarding energy, the unit and infrastructure costs combined were relatively stable during the year. |
As the holding company's activities are supported wholly by its own subsidiaries it is essential that its subsidiaries |
remain as going concerns. |
Each subsidiary recognises that in order to minimise the financial economical risk to its trading activities and, ultimately, its profitability, it must ensure it has a diverse number of products for a variety of geographical areas which meet the needs of a wide range of customers. |
RESEARCH AND DEVELOPMENT |
The group's research and development activities are focussed on the design and development of new products and existing product improvement. |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FUTURE DEVELOPMENTS |
The directors will continue to look for opportunities where the group can support and develop its subsidiaries in their activities of light engineering and felt conversion and distribution. |
ON BEHALF OF THE BOARD: |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
The directors present their report with the financial statements of the company and the group for the year ended 30 September 2024. |
PRINCIPAL ACTIVITIES |
The principal activities of the group in the year under review were those of felt conversion and distribution, and the manufacture, sale, and service of handwashing and hand drying machines and solid surface sanitary ware. |
DIVIDENDS |
The total distribution of dividends for the year ended 30 September 2024 will be £ 25,523 . |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report. |
Other changes in directors holding office are as follows: |
DISCLOSURE IN THE GROUP STRATEGIC REPORT |
Information relating to research and development and future developments has been disclosed within the Group Strategic Report in accordance with Section 414C (11) of the Companies Act 2006. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 company and the group 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; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
AUDITORS |
The auditors, Fawcetts LLP, will be proposed for re-appointment at the Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
E.V. NAISH LIMITED |
Opinion |
We have audited the financial statements of E.V. Naish Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 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 of the parent company affairs as at 30 September 2024 and of the group's profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 the 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 directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
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 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. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
E.V. NAISH LIMITED |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page four, 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 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 group's and 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 group or the parent company or to cease operations, or have no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
E.V. NAISH LIMITED |
Auditors' 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 a Report of the Auditors 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: |
Identifying and assessing potential risks related to irregularities including fraud |
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we consider the following: |
- | the nature of the industry/sector, control environment and financial performance; |
- | results of our enquiries of management about their own identification and assessment of the risk of irregularities; |
- | any matters we identified having obtained and reviewed the group and parent company's documentation of their policies and procedures relating to: |
- | identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; |
- | detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and |
- | the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations. |
- | the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. |
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following area: revenue and profit recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. |
We have also obtained an understanding of the legal and regulatory frameworks that the group and parent company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation. |
Audit response to risk identified |
As a result of performing the above, we identified revenue and profit recognition, stock valuation, estimation techniques and management override of controls as key matters related to the potential risk of fraud or material misstatement. Our procedures to respond to risks identified included the following: |
- | reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
- | enquiring of management concerning actual and potential litigation and claims; |
- | performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
- | performing substantive procedures to ascertain the completeness, existence, valuation, and rights and obligations of stocks as at the year-end; |
- | understanding the group and parent company's revenue recognition policies and how they are applied, including the relevant controls and processes and performing a walk-through to validate our understanding; |
- | performing analytical procedures to compare revenue recognised against expectations, past results, and management forecasts, and investigated material divergences by obtaining corroborative evidence; |
- | reading minutes of meetings of those charged with governance and reviewing any correspondence with HMRC; and |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
E.V. NAISH LIMITED |
- | in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
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 a Report of the Auditors 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. |
for and on behalf of |
Chartered Accountants |
and Statutory Auditors |
Windover House |
St. Ann Street |
Salisbury |
SP1 2DR |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
CONSOLIDATED |
INCOME STATEMENT |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER | 16,960,031 | 18,085,108 |
Cost of sales | 12,996,969 | 12,917,317 |
GROSS PROFIT | 3,963,062 | 5,167,791 |
Administrative expenses | 2,778,804 | 3,080,050 |
1,184,258 | 2,087,741 |
Other operating income | 250 | 4,054 |
1,184,508 | 2,091,795 |
Interest receivable and similar income | 367,018 | 153,691 |
PROFIT BEFORE TAXATION | 4 | 1,551,526 | 2,245,486 |
Tax on profit | 5 | 322,223 | 455,518 |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 1,229,303 | 1,789,968 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
CONSOLIDATED |
OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ |
PROFIT FOR THE YEAR | 1,229,303 | 1,789,968 |
OTHER COMPREHENSIVE INCOME |
Exchange adjustment on consolidation | 153,025 | (20,295 | ) |
Income tax relating to other comprehensive income |
- |
- |
OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
153,025 |
(20,295 |
) |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
1,382,328 |
1,769,673 |
Total comprehensive income attributable to: |
Owners of the parent | 1,382,328 | 1,769,673 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
CONSOLIDATED BALANCE SHEET |
30 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 | 242,227 | 181,671 |
Tangible assets | 9 | 4,043,377 | 4,194,234 |
Investments | 10 | - | - |
4,285,604 | 4,375,905 |
CURRENT ASSETS |
Stocks | 11 | 2,155,704 | 2,079,476 |
Debtors | 12 | 2,799,701 | 3,905,258 |
Cash at bank and in hand | 11,852,891 | 9,822,047 |
16,808,296 | 15,806,781 |
CREDITORS |
Amounts falling due within one year | 13 | 3,009,997 | 3,427,793 |
NET CURRENT ASSETS | 13,798,299 | 12,378,988 |
TOTAL ASSETS LESS CURRENT LIABILITIES | 18,083,903 | 16,754,893 |
PROVISIONS FOR LIABILITIES | 15 | 253,332 | 281,127 |
NET ASSETS | 17,830,571 | 16,473,766 |
CAPITAL AND RESERVES |
Called up share capital | 16 | 7,976 | 7,976 |
Capital redemption reserve | 17 | 117,024 | 117,024 |
Retained earnings | 17 | 17,705,571 | 16,348,766 |
SHAREHOLDERS' FUNDS | 17,830,571 | 16,473,766 |
The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by: |
G D Naish - Director |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
COMPANY BALANCE SHEET |
30 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 |
Tangible assets | 9 |
Investments | 10 |
CURRENT ASSETS |
Debtors | 12 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 13 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 15 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 16 |
Capital redemption reserve | 17 |
Retained earnings | 17 |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 1,140,651 | 1,140,873 |
The financial statements were approved by the Board of Directors and authorised for issue on |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 October 2022 | 7,976 | 14,604,616 | 117,024 | 14,729,616 |
Changes in equity |
Dividends | - | (25,523 | ) | - | (25,523 | ) |
Total comprehensive income | - | 1,769,673 | - | 1,769,673 |
Balance at 30 September 2023 | 7,976 | 16,348,766 | 117,024 | 16,473,766 |
Changes in equity |
Dividends | - | (25,523 | ) | - | (25,523 | ) |
Total comprehensive income | - | 1,382,328 | - | 1,382,328 |
Balance at 30 September 2024 | 7,976 | 17,705,571 | 117,024 | 17,830,571 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
COMPANY STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 October 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 30 September 2023 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 30 September 2024 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 2,586,036 | 1,306,634 |
Tax paid | (422,352 | ) | (279,525 | ) |
Net cash from operating activities | 2,163,684 | 1,027,109 |
Cash flows from investing activities |
Purchase of intangible fixed assets | (106,983 | ) | (97,959 | ) |
Purchase of tangible fixed assets | (393,102 | ) | (680,403 | ) |
Sale of tangible fixed assets | 16,875 | 24,059 |
Exchange adjustments on consolidation | 8,875 | 8,283 |
Interest received | 367,018 | 153,691 |
Net cash from investing activities | (107,317 | ) | (592,329 | ) |
Cash flows from financing activities |
Equity dividends paid | (25,523 | ) | (19,940 | ) |
Net cash from financing activities | (25,523 | ) | (19,940 | ) |
Increase in cash and cash equivalents | 2,030,844 | 414,840 |
Cash and cash equivalents at beginning of year |
2 |
9,822,047 |
9,407,207 |
Cash and cash equivalents at end of year | 2 | 11,852,891 | 9,822,047 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2024 | 2023 |
£ | £ |
Profit before taxation | 1,551,526 | 2,245,486 |
Depreciation charges | 581,509 | 538,467 |
Profit on disposal of fixed assets | (16,875 | ) | (23,209 | ) |
Exchange adjustment on consolidation | 153,025 | (20,295 | ) |
Finance income | (367,018 | ) | (153,691 | ) |
1,902,167 | 2,586,758 |
Increase in stocks | (76,228 | ) | (533,693 | ) |
Decrease/(increase) in trade and other debtors | 1,118,406 | (802,133 | ) |
(Decrease)/increase in trade and other creditors | (358,309 | ) | 55,702 |
Cash generated from operations | 2,586,036 | 1,306,634 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30 September 2024 |
30.9.24 | 1.10.23 |
£ | £ |
Cash and cash equivalents | 11,852,891 | 9,822,047 |
Year ended 30 September 2023 |
30.9.23 | 1.10.22 |
£ | £ |
Cash and cash equivalents | 9,822,047 | 9,407,207 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.10.23 | Cash flow | At 30.9.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 9,822,047 | 2,030,844 | 11,852,891 |
9,822,047 | 2,030,844 | 11,852,891 |
Total | 9,822,047 | 2,030,844 | 11,852,891 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
E.V. Naish Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
The directors have considered the financial position of the company and the group and confirm that it remains a going concern. The financial statements are presented in Sterling (£) which is the functional currency of the group. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Basis of consolidation |
The consolidated financial statements incorporate the financial statements of the company and entities controlled by the group (its subsidiaries). Control is achieved where the group has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. |
All intra-group transactions, balances, income and expenses are eliminated in full on consolidation. Investments in subsidiaries are accounted for at cost less impairment in the individual financial statements. |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. |
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements: |
Useful life of tangible fixed assets |
A reliable estimate is made of the useful life of tangible assets on acquisition. This estimate is based on a variety of factors such as expected use of the acquired asset and assumptions that market participants would consider in respect of a similar business. |
Leases |
A lease that does not transfer substantially all of the risks and rewards of ownership is classified as an operating lease and is therefore not included in the statement of financial position. |
Other key sources of estimation uncertainty: |
Tangible fixed assets |
Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as market conditions, the remaining life of the asset and projected disposal values. |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. |
Sale of goods |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point of despatch. |
Rendering of services |
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
An analysis of turnover between classes of business and geographical markets has not been disclosed in accordance with SI 2008/410 Sch 1 68 (5). |
Intangible assets |
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. |
Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised at the following annual rates: |
Intellectual property | - 20% on cost |
Development costs | - 10% and 20% on cost |
The write-off period for development costs begins once the related product is brought into commercial use. |
Tangible fixed assets |
Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. The capitalisation threshold is £1,000. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition. Land is not depreciated. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - 2% on cost |
Improvements to property | - 33% on cost |
Plant and machinery | - 10% to 50% on cost |
Fixtures and fittings | - 10% to 50% on cost |
Motor vehicles | - 25% on cost |
Computer equipment | - 33% on cost |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. |
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currency translation |
Functional currency and presentational currency |
The individual financial statements of each group entity are presented in the currency of the primary economic environment in which the entity operates (its functional currency). For the purpose of the consolidated financial statements, the results and financial position are presented in Sterling (£). |
Transactions and balances |
In preparing the financial statements of the individual entities, transactions in currencies other than the functional currency of the individual entities (foreign currencies) are recognised at the rate of exchange ruling at the dates of the transactions, or at an average rate where this rate approximates the actual rate at the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. |
Exchange differences are recognised in profit or loss in the period in which they arise. However, in the consolidated financial statements exchange differences arising on monetary items that form part of the net investment in a foreign operation are recognised in other comprehensive income and are not reclassified to profit or loss. |
Translation of group companies |
For the purpose of presenting consolidated financial statements, the assets and liabilities of the group's foreign operations are translated from their functional currency to Sterling (£) using the closing exchange rate. Income and expenses are translated using the average rate for the period. Exchange differences arising on the translation of group companies are recognised in other comprehensive income and are not reclassified to profit or loss. |
Pension costs and other post-retirement benefits |
The group contributes to the individual defined contribution pension schemes of employees. Contributions are charged to profit or loss in the period to which they relate. |
Debtors |
Debtors are measured at their recoverable amount. |
Creditors and provisions |
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. |
Investments |
Investments held as fixed assets are stated at cost less provision for any impairment. |
Exceptional items |
The group classifies one-off charges or credits that have a material impact on the company's financial results as 'exceptional items'. These are disclosed separately to provide further understanding of the financial performance of the company. |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
3. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries | 3,350,642 | 2,994,651 |
Social security costs | 351,835 | 326,203 |
Other pension costs | 181,551 | 175,464 |
3,884,028 | 3,496,318 |
The average number of employees during the year was as follows: |
2024 | 2023 |
Management and administration | 12 | 16 |
Production | 143 | 167 |
Manufacturing | 27 | 18 |
Sales | 13 | 14 |
Service | 6 | 4 |
2024 | 2023 |
£ | £ |
Directors' remuneration | 190,106 | 199,669 |
Directors' pension contributions to money purchase schemes | 16,401 | 15,790 |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes | 1 | 1 |
4. | PROFIT BEFORE TAXATION |
The profit is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets | 535,084 | 503,422 |
Profit on disposal of fixed assets | (16,875 | ) | (23,209 | ) |
Intellectual property amortisation | 38,452 | 34,555 |
Development costs amortisation | 7,975 | 490 |
Auditors' remuneration | 41,298 | 39,250 |
Foreign exchange differences | 52,017 | 3,694 |
Research and development expenditure | 367,466 | 341,899 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
5. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax | 374,314 | 354,691 |
Deferred tax | (52,091 | ) | 100,827 |
Tax on profit | 322,223 | 455,518 |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
2024 | 2023 |
£ | £ |
Profit before tax | 1,551,526 | 2,245,486 |
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 25 %) |
387,882 |
561,372 |
Effects of: |
Expenses not deductible for tax purposes | 397 | 285 |
Depreciation in excess of capital allowances | 39,010 | 4,005 |
Research and development enhanced expenditure | (79,005 | ) | (81,111 | ) |
Patent Box adjustment | (91,408 | ) | (102,963 | ) |
Profit on disposal of fixed assets | (4,219 | ) | (5,108 | ) |
Overseas activities | 126,345 | 85,595 |
Under provision in prior year | (4,237 | ) | (2,907 | ) |
Increase in corporation tax rate | - | (104,114 | ) |
Movement in deferred tax on accelerated capital allowances | (52,091 | ) | 100,827 |
Marginal relief | (214 | ) | (363 | ) |
Structures and buildings allowance | (237 | ) | - |
Total tax charge | 322,223 | 455,518 |
Tax effects relating to effects of other comprehensive income |
2024 |
Gross | Tax | Net |
£ | £ | £ |
Exchange adjustment on consolidation | 153,025 | - | 153,025 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
5. | TAXATION - continued |
2023 |
Gross | Tax | Net |
£ | £ | £ |
Exchange adjustment on consolidation | (20,295 | ) | - | (20,295 | ) |
6. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements. |
7. | DIVIDENDS |
2024 | 2023 |
£ | £ |
Ordinary shares of £1 each |
Final | 25,523 | 25,523 |
8. | INTANGIBLE FIXED ASSETS |
Group |
Intellectual | Development |
property | costs | Totals |
£ | £ | £ |
COST |
At 1 October 2023 | 476,148 | 408,539 | 884,687 |
Additions | 36,860 | 70,123 | 106,983 |
At 30 September 2024 | 513,008 | 478,662 | 991,670 |
AMORTISATION |
At 1 October 2023 | 365,885 | 337,131 | 703,016 |
Amortisation for year | 38,452 | 7,975 | 46,427 |
At 30 September 2024 | 404,337 | 345,106 | 749,443 |
NET BOOK VALUE |
At 30 September 2024 | 108,671 | 133,556 | 242,227 |
At 30 September 2023 | 110,263 | 71,408 | 181,671 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
9. | TANGIBLE FIXED ASSETS |
Group |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 October 2023 | 2,966,990 | 44,211 | 5,657,392 |
Additions | 45,459 | 68,593 | 203,558 |
Disposals | - | - | - |
Exchange differences | - | - | (28,569 | ) |
At 30 September 2024 | 3,012,449 | 112,804 | 5,832,381 |
DEPRECIATION |
At 1 October 2023 | 437,095 | 44,211 | 4,126,570 |
Charge for year | 37,998 | 286 | 429,571 |
Eliminated on disposal | - | - | - |
Exchange differences | - | - | (19,694 | ) |
At 30 September 2024 | 475,093 | 44,497 | 4,536,447 |
NET BOOK VALUE |
At 30 September 2024 | 2,537,356 | 68,307 | 1,295,934 |
At 30 September 2023 | 2,529,895 | - | 1,530,822 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
9. | TANGIBLE FIXED ASSETS - continued |
Group |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2023 | 622,270 | 300,856 | 101,080 | 9,692,799 |
Additions | 22,390 | 50,609 | 2,493 | 393,102 |
Disposals | - | (92,733 | ) | - | (92,733 | ) |
Exchange differences | - | - | - | (28,569 | ) |
At 30 September 2024 | 644,660 | 258,732 | 103,573 | 9,964,599 |
DEPRECIATION |
At 1 October 2023 | 603,440 | 186,169 | 101,080 | 5,498,565 |
Charge for year | 13,943 | 52,895 | 391 | 535,084 |
Eliminated on disposal | - | (92,733 | ) | - | (92,733 | ) |
Exchange differences | - | - | - | (19,694 | ) |
At 30 September 2024 | 617,383 | 146,331 | 101,471 | 5,921,222 |
NET BOOK VALUE |
At 30 September 2024 | 27,277 | 112,401 | 2,102 | 4,043,377 |
At 30 September 2023 | 18,830 | 114,687 | - | 4,194,234 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
9. | TANGIBLE FIXED ASSETS - continued |
Company |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
10. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 October 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
10. | FIXED ASSET INVESTMENTS - continued |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiaries |
Registered office: Crow Lane, Salisbury, SP2 0HB |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
Registered office: Crow Lane, Salisbury, SP2 0HD |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
Registered office: Industrialna Zona Rakovski, Unit 6, 4142 Stryama, Bulgaria |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Loss for the year | ( |
) | ( |
) |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
11. | STOCKS |
Group |
2024 | 2023 |
£ | £ |
Raw materials | 1,703,736 | 1,624,929 |
Finished goods | 451,968 | 454,547 |
2,155,704 | 2,079,476 |
12. | DEBTORS |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Amounts falling due within one year: |
Trade debtors | 2,302,511 | 3,632,605 |
Amounts owed by group undertakings | - | - |
Other debtors | 143,142 | 65,481 |
Corporation tax | - | 11,449 |
Prepayments and accrued income | 354,048 | 195,723 |
2,799,701 | 3,905,258 |
Amounts falling due after more than one | year: |
Amounts owed by group undertakings | - | - |
Aggregate amounts | 2,799,701 | 3,905,258 |
A market rate of interest is charged on the amounts owed by group undertakings falling due after more than one year. |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Trade creditors | 1,448,973 | 1,479,935 |
Amounts owed to group undertakings | - | - |
Corporation tax | 174,273 | 233,760 |
Social security and other taxes | 74,662 | 78,911 |
VAT | 205,267 | 415,075 | 10,309 | 6,152 |
Proposed dividends | 25,523 | 25,523 | 25,523 | 25,523 |
Other creditors | 255,253 | 233,436 |
Accruals and deferred income | 826,046 | 961,153 |
3,009,997 | 3,427,793 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
14. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Non-cancellable operating | leases |
2024 | 2023 |
£ | £ |
Within one year | 88,841 | 110,000 |
Between one and five years | 92,205 | 71,382 |
181,046 | 181,382 |
15. | PROVISIONS FOR LIABILITIES |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Deferred tax |
Accelerated capital allowances | 253,332 | 281,127 | 21,363 | 37,723 |
Group |
Deferred |
tax |
£ |
Balance at 1 October 2023 | 281,127 |
Accelerated capital allowances | (27,795 | ) |
Balance at 30 September 2024 | 253,332 |
Company |
Deferred |
tax |
£ |
Balance at 1 October 2023 |
Credit to Statement of Comprehensive Income during year | ( |
) |
Accelerated capital allowances |
Balance at 30 September 2024 |
16. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 7,976 | 7,976 |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
16. | CALLED UP SHARE CAPITAL - continued |
The ordinary shares rank equally in respect of voting rights and any dividend declared, and shall entitle the holder to full participation in respect of the entity and in the event of winding up the company. |
17. | RESERVES |
Group |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 October 2023 | 16,348,766 | 117,024 | 16,465,790 |
Profit for the year | 1,229,303 | 1,229,303 |
Dividends | (25,523 | ) | (25,523 | ) |
Exchange rate difference | 153,025 | - | 153,025 |
At 30 September 2024 | 17,705,571 | 117,024 | 17,822,595 |
Company |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 October 2023 | 12,738,175 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 September 2024 | 13,853,303 |
Retained earnings: |
Includes all current and prior period retained profits and losses. |
Capital redemption reserve: |
This reserve represents the nominal value of shares repurchased by the company. |
18. | PENSION COMMITMENTS |
The group contributes to the individual defined contribution schemes of employees. Contributions are charged to the profit and loss account as they fall due and amounted to £181,551 (2023: £175,464). At the year end outstanding contributions totalled £23,966 (2023: £22,122). |
19. | OTHER FINANCIAL COMMITMENTS |
E V Naish Limited has provided a guarantee of up to €135,000 and Naish Felts Limited has provided a guarantee of up to €95,000 against supplier payments in respect of their fellow group company, Naish Felts Bulgaria LLC. |
E.V. NAISH LIMITED (REGISTERED NUMBER: 00398662) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
20. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
Key management personnel |
All directors (of both the parent company and its subsidiaries) who have authority and responsibility for planning, directing and controlling the activities of the group are considered to be key management personnel (2024: seven directors; 2023: seven directors). Total remuneration in respect of these individuals is £746,308 (2023: £878,630). |
21. | ULTIMATE CONTROLLING PARTY |
The group is under the control of G D Naish, a director of the company, who, together with family interests, controls 90.3% of the ordinary share capital. |