Company registration number 01215816 (England and Wales)
ALPHA LABORATORIES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
ALPHA LABORATORIES LIMITED
COMPANY INFORMATION
Directors
A M Giles
A Giles
R Vint
T L Giles
N S Giles
Secretary
A M Giles
Company number
01215816
Registered office
40 Parham Drive
Eastleigh
Hampshire
SO50 4NU
Auditor
Azets Audit Services
Carnac Place
Cams Hall Estate
Fareham
Hampshire
United Kingdom
PO16 8UY
ALPHA LABORATORIES LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 27
ALPHA LABORATORIES LIMITED
STRATEGIC REPORT
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the 15 month period ended 31 December 2024.

Principal activities

The Company’s core activity remains the marketing and distribution of equipment, diagnostics, reagents, and laboratory consumables to clinical and research laboratories. Key customers include NHS, private health, medical clinics, and academic and research institutions.

Business Review

Alpha Laboratories specialises in the sourcing and supply of laboratory equipment, consumables, and clinical diagnostics. Laboratory equipment and consumables largely under the Alpha brand are distributed internationally. In contrast, diagnostic products, which are sold under manufacturers’ brands, are supplied solely within the British Isles.

The Company continues to operate under a Key Account Management (KAM) model. This solution-led sales strategy now fully embedded emphasises customer partnerships over transactional product sales and has yielded positive results. The primary customer base includes the NHS, private clinical laboratories, universities, medical schools, and the life sciences sector.

Strong, long standing supplier relationships underpin the Company’s success, with several partnerships extending over 35 years. Key suppliers are located across the United States, Japan, mainland Europe, and the UK.

Strategically, Alpha Laboratories has increased its focus on sustainability through the internal development of an Environment, Social, and Governance (ESG) framework, branded People, Planet, Culture. Investments in staff training and development continue, alongside corporate social responsibility initiatives, such as educational outreach, charitable contributions and employee volunteer leave up to three days annually per employee.

The Company has now stabilised post-COVID. Although this transition has led to a decline in profitability, management considers the current performance level to be sustainable and satisfactory.

Principal Risks and Uncertainties

A significant proportion of the Company’s purchases are denominated in US Dollars, Swiss Francs, and Japanese Yen exposing it to exchange rate risk. This is actively managed using forward exchange contracts and options.

In the diagnostics market, the emergence of large multinational corporations has resulted in the widespread adoption of Managed Service Contracts (MSCs) by clinical laboratories. These VAT-exempt arrangements typically spanning 10 to 15 years offer cost savings but create long-term supplier lock-ins. Rather than compete directly, Alpha continues to engage collaboratively with these organisations.

Financial Risk Management

The Company is subject to various financial risks arising from its operational activities. These risks are closely monitored by the Board, with controls implemented by the finance department.

 

ALPHA LABORATORIES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 2 -
Financial Performance and Key Performance Indicators

 

Indicator

15 Months to 31 Dec 2024

12 Months to 30 Sep 2023

% Change

Sales Revenue

£26.6m

£19.4m

+37.5% (15M) / +10% (12M comparative)

Gross Margin

44%

35%

+9%

Gross Profit

£11.7m

£6.7m

+74.3% (15M) / +39.5% (12M comparative)

Overheads

£8.1m

£6.3m

+29% (15M) / +3% (12M comparative)

Interest Income

£801k

£267k

+200.1% (15M) / +140.1% (12M comparative)

Profit Before Tax

£4.4m

£705k

(Oct–Dec 2023: £709.8k; Jan–Dec 2024: £3.7m)

Going Concern

The Directors have assessed the Company’s ability to continue as a going concern for a period of at least 12 months from the date of authorisation of the financial statements. They are satisfied that no material uncertainties exist and that the Company remains a going concern.

Future Developments

The Company plans to explore opportunities for vertical integration and potential acquisitions. Investment has been made in recruitment of skilled personnel tasked with identifying new supplier relationships and market opportunities. A well as a robust Finance and Operational systems and controls.

On behalf of the board

N S Giles
Director
5 June 2025
ALPHA LABORATORIES LIMITED
DIRECTORS' REPORT
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 3 -

The directors present their annual report and financial statements for the 15 month period ended 31 December 2024.

Results and dividends

The results for the 15 month period are set out on page 8.

Ordinary dividends were paid amounting to £615,905. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the 15 month period and up to the date of signature of the financial statements were as follows:

A M Giles
A Giles
R Vint
T L Giles
N S Giles
Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the 15 month period. These provisions remain in force at the reporting date.

Auditor

Azets Audit Services were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

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

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of principal risks and uncertainties.

ALPHA LABORATORIES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 4 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor 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 company’s auditor is aware of that information.

On behalf of the board
N S Giles
Director
5 June 2025
ALPHA LABORATORIES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ALPHA LABORATORIES LIMITED
- 5 -
Opinion

We have audited the financial statements of Alpha Laboratories Limited (the 'company') for the 15 month period ended 31 December 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information 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:

ALPHA LABORATORIES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ALPHA LABORATORIES LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the 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 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.

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.

ALPHA LABORATORIES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ALPHA LABORATORIES LIMITED
- 7 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

 

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.  Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.  This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

 

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

 

 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Richard Hutchinson
Senior Statutory Auditor
For and on behalf of Azets Audit Services
9 June 2025
Chartered Accountants
Statutory Auditor
Carnac Place
Cams Hall Estate
Fareham
Hampshire
United Kingdom
PO16 8UY
ALPHA LABORATORIES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 8 -
15 month Period
12 month period
ended
ended
31 December
30 September
2024
2023
Notes
£
£
Turnover
3
26,595,605
19,356,168
Cost of sales
(14,877,583)
(12,634,257)
Gross profit
11,718,022
6,721,911
Administrative expenses
(8,104,441)
(6,284,362)
Operating profit
4
3,613,581
437,549
Interest receivable and similar income
7
801,665
272,795
Interest payable and similar expenses
8
(428)
(5,767)
Profit before taxation
4,414,818
704,577
Tax on profit
9
(1,124,119)
(182,405)
Profit for the financial 15 month period
3,290,699
522,172
Other comprehensive income
Cash flow hedges gain/(loss) arising in the 15 month period
-
0
(110,608)
Tax relating to other comprehensive income
(12,213)
-
0
Total comprehensive income for the 15 month period
3,278,486
411,564

The profit and loss account has been prepared on the basis that all operations are continuing operations.

ALPHA LABORATORIES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 9 -
31 December 2024
30 September 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
11
231,058
317,704
Tangible assets
12
2,320,887
2,442,147
Investments
13
999,800
-
0
3,551,745
2,759,851
Current assets
Stocks
15
3,679,444
3,671,972
Debtors
16
2,361,379
3,373,314
Cash at bank and in hand
24,053,063
19,797,952
30,093,886
26,843,238
Creditors: amounts falling due within one year
17
(4,634,083)
(3,238,508)
Net current assets
25,459,803
23,604,730
Total assets less current liabilities
29,011,548
26,364,581
Provisions for liabilities
Deferred tax liability
18
124,034
139,648
(124,034)
(139,648)
Net assets
28,887,514
26,224,933
Capital and reserves
Called up share capital
20
22,000
22,000
Share premium account
21
28,966
28,966
Hedging reserve
22
36,639
48,852
Capital redemption reserve
23
3,000
3,000
Profit and loss reserves
28,796,909
26,122,115
Total equity
28,887,514
26,224,933
The financial statements were approved by the board of directors and authorised for issue on 5 June 2025 and are signed on its behalf by:
N S Giles
Director
Company Registration No. 01215816
ALPHA LABORATORIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 10 -
Share capital
Share premium account
Hedging reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
£
Balance at 1 October 2022
22,000
28,966
159,460
3,000
26,149,943
26,363,369
Period ended 30 September 2023:
Profit for the period
-
-
-
-
522,172
522,172
Other comprehensive income:
Fair value movement
-
-
(110,608)
-
-
(110,608)
Total comprehensive income for the period
-
-
(110,608)
-
522,172
411,564
Dividends
10
-
-
-
-
(550,000)
(550,000)
Balance at 30 September 2023
22,000
28,966
48,852
3,000
26,122,115
26,224,933
Period ended 31 December 2024:
Profit for the period
-
-
-
-
3,290,699
3,290,699
Other comprehensive income:
Tax relating to other comprehensive income
-
-
(12,213)
-
-
0
(12,213)
Total comprehensive income for the period
-
-
(12,213)
-
3,290,699
3,278,486
Dividends
10
-
-
-
-
(615,905)
(615,905)
Balance at 31 December 2024
22,000
28,966
36,639
3,000
28,796,909
28,887,514
ALPHA LABORATORIES LIMITED
STATEMENT OF CASH FLOWS
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 11 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
5,010,373
2,899,904
Interest paid
(428)
(5,767)
Income taxes refunded
322,510
-
Net cash inflow from operating activities
5,332,455
2,894,137
Investing activities
Purchase of intangible assets
-
0
(135,050)
Purchase of tangible fixed assets
(263,304)
(763,020)
Purchase of investments
(999,800)
-
0
Interest received
801,665
272,795
Net cash used in investing activities
(461,439)
(625,275)
Financing activities
Repayment of loans
-
0
(648,179)
Dividends paid
(615,905)
(550,000)
Net cash used in financing activities
(615,905)
(1,198,179)
Net increase in cash and cash equivalents
4,255,111
1,070,683
Cash and cash equivalents at beginning of 15 month period
19,797,952
18,727,269
Cash and cash equivalents at end of 15 month period
24,053,063
19,797,952
ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 12 -
1
Accounting policies
Company information

Alpha Laboratories Limited is a private company limited by shares incorporated in England and Wales. The registered office is 40 Parham Drive, Eastleigh, Hampshire, SO50 4NU.

1.1
Reporting period

These are management figures for a fifteen month period to 31 December 2024, as requested. Therefore, the comparative amounts presented are not entirely comparable.

1.2
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, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

 

The financial statements contain information about Alpha Laboratories Limited as an individual entity.

1.3
Going concern

The Directors have made an assessment in preparing these financial statements as to whether the Company is able to continue operations for a period of at least twelve months from when the financial statements are authorised for issue and whether the Company is a going concern. The directors have concluded that there are no material uncertainties that may cast doubt on the Company's ability to continue as a going concern.

1.4
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of VAT and trade discounts.

 

Turnover is attributable to one activity, the distribution of laboratory equipment, reagents and disposable plastics.

 

Turnover is recognised in accounting periods in which the goods are dispatched.

 

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receiveable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

 

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -

Rendering of services

 

Turnover from a contract, to provide services, is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

 

1.5
Intangible fixed assets other than goodwill

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

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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

Software
5 years
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Buildings
50 years straight line
Plant and equipment
3 years straight line
Leasehold improvements
10 years straight line
Computer Equipment
3 years straight line
Motor vehicles
4 years straight line
Other fixed assets
5 years straight line

Land is considered to have an infinite life and a value greater than cost. On this basis no depreciation has been provided.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.8
Impairment of fixed assets

At each reporting period end date, the company 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
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.

ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 15 -
1.11
Financial instruments

The company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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 company 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 company after deducting all of its liabilities.

ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 16 -
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 company’s contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the company 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 company.

1.13
Hedge accounting

The company designates certain hedging instruments, including derivatives, embedded derivatives and non-derivatives, as either fair value hedges or cash flow hedges. At the inception of the hedge relationship, the company documents the relationship between the hedging instrument and the hedged item along with risk management objectives and strategy for undertaking various hedge transactions. At the inception of the hedge and on an ongoing basis, the company documents whether the hedging instrument is highly effective in offsetting changes in fair values or cash flows of the hedged item.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 17 -

For derivatives that are designated and qualify as cash flow hedges, the effective portion of changes in the fair value of the hedge is recognised in other comprehensive income. The gain or loss relating to the ineffective portion is recognised immediately in profit or loss.

 

Any gain or loss previously recognised in other comprehensive income is reclassified to profit or loss when the hedge relationship ends. This occurs when the hedging instrument expires or no longer meets the hedging criteria, the forecast transaction is no longer highly probable, the hedged debt instrument is derecognised, or the hedging instrument is terminated.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

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

1.17
Leases

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

ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 18 -
1.18
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Derivatives

The Directors have made key assumptions in the determination of the fair value of derivateive financial instruments.

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.

Stock provisions

Provisions for stock and work in progress are made by the management of the Company based on the age and condition of stock, related costs and prevailing market conditions.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Sale of goods
26,525,650
19,292,382
Rendering of services
69,955
63,786
26,595,605
19,356,168
ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
3
Turnover and other revenue
(Continued)
- 19 -
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
24,918,532
18,237,400
Rest of Europe
1,527,108
1,025,316
Rest of the World
149,965
93,452
26,595,605
19,356,168
2024
2023
£
£
Other revenue
Interest income
801,665
272,795
4
Operating profit
2024
2023
Operating profit for the period is stated after charging/(crediting):
£
£
Exchange losses
504,008
78,867
Fees payable to the company's auditor for the audit of the company's financial statements
35,000
39,650
Depreciation of owned tangible fixed assets
384,564
151,600
Profit on disposal of tangible fixed assets
-
(8,199)
Amortisation of intangible assets
86,646
28,882
Operating lease charges
205,823
186,769
5
Employees

The average monthly number of persons (including directors) employed by the company during the 15 month period was:

2024
2023
Number
Number
Distribution Staff
58
58
Adminstrative Staff
6
5
Management
7
8
Total
71
71
ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
5
Employees
(Continued)
- 20 -

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
3,967,837
3,168,869
Social security costs
511,591
356,437
Pension costs
289,173
127,074
4,768,601
3,652,380
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
381,445
257,264

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2023 - 1).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
196,507
147,955
Company pension contributions to defined contribution schemes
25,388
-

The key management personnel of the Company are those persons having authority and responsibility for planning, directing and controlling the activities of the entity. We have identified Key Management Personnel and their total remuneration amounts to £580,399 (2023: £555,997), this comprises £456,691 (2023: £528,939) in wages and £123,708 (2023: £27,058) in pension contributions.

7
Interest receivable and similar income
2024
2023
£
£
Interest income
Other interest receivable
801,618
272,795
Other interest income
47
-
0
Total income
801,665
272,795
ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 21 -
8
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Other interest on financial liabilities
428
23
Other finance costs:
Other interest
-
0
5,744
428
5,767
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
1,151,946
182,405
Deferred tax
Origination and reversal of timing differences
(27,827)
-
0
Total tax charge
1,124,119
182,405

The actual charge for the 15 month period can be reconciled to the expected charge for the 15 month period based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
4,414,818
704,577
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 22.01%)
1,103,705
155,077
Tax effect of expenses that are not deductible in determining taxable profit
10,007
1,900
Adjustments in respect of prior years
(11,096)
7,836
Permanent capital allowances in excess of depreciation
-
0
9,176
Other permanent differences
20,640
26
Deferred tax adjustments in respect of prior years
863
8,390
Taxation charge for the period
1,124,119
182,405

In addition to the amount charged to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:

2024
2023
£
£
Deferred tax arising on:
Revaluation of financial instruments treated as cash flow hedges
12,213
-
0
ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 22 -
10
Dividends
2024
2023
£
£
Interim paid
615,905
550,000
11
Intangible fixed assets
Software
£
Cost
At 1 October 2023 and 31 December 2024
346,586
Amortisation and impairment
At 1 October 2023
28,882
Amortisation charged for the 15 month period
86,646
At 31 December 2024
115,528
Carrying amount
At 31 December 2024
231,058
At 30 September 2023
317,704
ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 23 -
12
Tangible fixed assets
Buildings
Plant and equipment
Leasehold improvements
Computer Equipment
Motor vehicles
Other fixed assets
Total
£
£
£
£
£
£
£
Cost
At 1 October 2023
2,444,170
118,052
349,122
343,330
375,365
880,726
4,510,765
Additions
58,614
-
0
58,028
19,061
-
0
127,601
263,304
Disposals
-
0
-
0
-
0
(208,541)
(75,664)
-
0
(284,205)
At 31 December 2024
2,502,784
118,052
407,150
153,850
299,701
1,008,327
4,489,864
Depreciation and impairment
At 1 October 2023
464,246
50,171
289,760
319,312
236,531
708,598
2,068,618
Depreciation charged in the 15 month period
105,014
28,991
43,750
20,423
73,328
113,058
384,564
Eliminated in respect of disposals
-
0
-
0
-
0
(208,541)
(75,664)
-
0
(284,205)
At 31 December 2024
569,260
79,162
333,510
131,194
234,195
821,656
2,168,977
Carrying amount
At 31 December 2024
1,933,524
38,890
73,640
22,656
65,506
186,671
2,320,887
At 30 September 2023
1,979,924
67,881
59,362
24,018
138,834
172,128
2,442,147
ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 24 -
13
Fixed asset investments
2024
2023
£
£
Unlisted investments
999,800
-
0
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2023
-
Additions
999,800
At 31 December 2024
999,800
Carrying amount
At 31 December 2024
999,800
At 30 September 2023
-
14
Financial instruments
Hedging arrangements

The Company uses variable to fixed interest rate swaps to manage its exposure to cash flow risk on it's interest rates. These derivatives are measured at fair value at each statement of financial position date.

 

The Company uses foreign currency forward contracts to manage it's exposure to cash flow risk on it's suppliers in foreign currency. These derivatives are measured at fair value at each statement of financial position date.

To the extent the cash flow hedge is effective, movements in fair value are recognised in other comprehensive income and presented in a separate cash flow hedge reserve.

 

Gains and losses on the hedging instruments and the hedged items are recognised in the Statement of Comprehensive Income for the year. When a hedged item is an unrecognised firm commitment, the cumulative hedging gain or loss on the hedged item is recognised as an asset or liability with a corresponding gain or loss recognised in other comprehensive income.

 

Included within debtors are financial assets included at fair value of £48,852 (2023: £48,852) all other financial assets and financial liabilities are stated at amortised cost.

15
Stocks
2024
2023
£
£
Finished goods and goods for resale
3,679,444
3,671,972
ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 25 -
16
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,107,098
2,698,638
Gross amounts owed by contract customers
48,852
48,852
Corporation tax recoverable
-
0
311,461
Other debtors
3,483
73,887
Prepayments and accrued income
201,946
240,476
2,361,379
3,373,314
17
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,036,318
2,508,505
Corporation tax
1,162,995
-
0
Other taxation and social security
778,274
174,464
Other creditors
255,956
47,973
Accruals and deferred income
400,540
507,566
4,634,083
3,238,508
18
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
127,015
143,261
Retirement benefit obligations
(9,015)
(2,750)
Other
-
(863)
General provision
(6,179)
-
Hedging reserve
12,213
-
124,034
139,648
2024
Movements in the 15 month period:
£
Liability at 1 October 2023
139,648
Other
(15,614)
Liability at 31 December 2024
124,034
ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
18
Deferred taxation
(Continued)
- 26 -

The deferred tax liability set out above is expected to reverse within [12 months] and relates to accelerated capital allowances that are expected to mature within the same period.

19
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
289,173
127,074

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

20
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
22,000
22,000
22,000
22,000

The ordinary shares entitle each holder to one voting right and no right to fixed income.

21
Share premium account

This reserve represents the amount above the nominal value received for issued share capital, less transaction costs.

22
Hedging reserve

The cash flow hedge reserve relates to the accumulated fair value movements in the derivative financial instruments.

23
Capital redemption reserve

This reserve contains the nominal value of owned shares that have been acquired in the Company and cancelled.

24
Operating lease commitments
Lessee

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

2024
2023
£
£
Within one year
117,515
159,294
Between two and five years
142,441
385,299
In over five years
-
0
1,342
259,956
545,935
ALPHA LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 15 MONTH PERIOD ENDED 31 DECEMBER 2024
- 27 -
25
Ultimate controlling party

In the opinion of the directors, T L Giles and N S Giles are the ultimate controlling parties.

26
Cash generated from operations
2024
2023
£
£
Profit for the 15 month period after tax
3,290,699
522,172
Adjustments for:
Taxation charged
1,124,119
182,405
Finance costs
428
5,767
Investment income
(801,665)
(272,795)
Amortisation and impairment of intangible assets
86,646
28,882
Depreciation and impairment of tangible fixed assets
384,564
176,190
Movements in working capital:
(Increase)/decrease in stocks
(7,472)
575,804
Decrease in debtors
700,474
4,047,017
Increase/(decrease) in creditors
232,580
(2,365,539)
Cash generated from operations
5,010,373
2,899,903
27
Analysis of changes in net funds
1 October 2023
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
19,797,952
4,255,111
24,053,063
2024-12-312023-10-01falsefalsefalseCCH SoftwareCCH Accounts Production 2025.100R VintT L GilesN S GilesT L GilesN S GilesA M Giles012158162023-10-012024-12-3101215816bus:CompanySecretaryDirector12023-10-012024-12-3101215816bus:CompanySecretaryDirector22023-10-012024-12-3101215816bus:Director12023-10-012024-12-3101215816bus:Director22023-10-012024-12-3101215816bus:Director32023-10-012024-12-3101215816bus:Director42023-10-012024-12-3101215816bus:Director52023-10-012024-12-3101215816bus:CompanySecretary12023-10-012024-12-3101215816bus:RegisteredOffice2023-10-012024-12-31012158162024-12-31012158162022-10-012023-09-3001215816core:RetainedEarningsAccumulatedLosses2022-10-012023-09-3001215816core:RetainedEarningsAccumulatedLosses2023-10-012024-12-3101215816core:HedgingReserve2023-10-012024-12-3101215816core:HedgingReserve2022-10-012023-09-3001215816core:OtherResidualIntangibleAssets2024-12-3101215816core:OtherResidualIntangibleAssets2023-09-3001215816core:ComputerSoftware2024-12-3101215816core:ComputerSoftware2023-09-30012158162023-09-3001215816core:LandBuildingscore:OwnedOrFreeholdAssets2024-12-3101215816core:PlantMachinery2024-12-3101215816core:FurnitureFittings2024-12-3101215816core:ComputerEquipment2024-12-3101215816core:MotorVehicles2024-12-3101215816core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-12-3101215816core:LandBuildingscore:OwnedOrFreeholdAssets2023-09-3001215816core:PlantMachinery2023-09-3001215816core:FurnitureFittings2023-09-3001215816core:ComputerEquipment2023-09-3001215816core:MotorVehicles2023-09-3001215816core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-09-3001215816core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3101215816core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3001215816core:CurrentFinancialInstruments2024-12-3101215816core:CurrentFinancialInstruments2023-09-3001215816core:ShareCapital2024-12-3101215816core:ShareCapital2023-09-3001215816core:SharePremium2024-12-3101215816core:SharePremium2023-09-3001215816core:HedgingReserve2024-12-3101215816core:HedgingReserve2023-09-3001215816core:CapitalRedemptionReserve2024-12-3101215816core:CapitalRedemptionReserve2023-09-3001215816core:RetainedEarningsAccumulatedLosses2024-12-3101215816core:RetainedEarningsAccumulatedLosses2023-09-3001215816core:ShareCapital2022-09-3001215816core:SharePremium2022-09-3001215816core:HedgingReserve2022-09-3001215816core:CapitalRedemptionReserve2022-09-3001215816core:RetainedEarningsAccumulatedLosses2022-09-3001215816core:ShareCapitalOrdinaryShareClass12024-12-3101215816core:ShareCapitalOrdinaryShareClass12023-09-30012158162023-09-30012158162022-09-3001215816core:IntangibleAssetsOtherThanGoodwill2023-10-012024-12-3101215816core:ComputerSoftware2023-10-012024-12-3101215816core:LandBuildingscore:OwnedOrFreeholdAssets2023-10-012024-12-3101215816core:PlantMachinery2023-10-012024-12-3101215816core:FurnitureFittings2023-10-012024-12-3101215816core:ComputerEquipment2023-10-012024-12-3101215816core:MotorVehicles2023-10-012024-12-3101215816core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-10-012024-12-3101215816core:CashFlowHedge2023-10-012024-12-310121581612023-10-012024-12-310121581612022-10-012023-09-3001215816core:UKTax2023-10-012024-12-3101215816core:UKTax2022-10-012023-09-3001215816core:ComputerSoftware2023-09-3001215816core:LandBuildingscore:OwnedOrFreeholdAssets2023-09-3001215816core:PlantMachinery2023-09-3001215816core:FurnitureFittings2023-09-3001215816core:ComputerEquipment2023-09-3001215816core:MotorVehicles2023-09-3001215816core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-09-3001215816core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2024-12-3101215816core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2023-09-3001215816bus:OrdinaryShareClass12023-10-012024-12-3101215816bus:OrdinaryShareClass12024-12-3101215816bus:OrdinaryShareClass12023-09-3001215816core:WithinOneYear2024-12-3101215816core:WithinOneYear2023-09-3001215816core:BetweenTwoFiveYears2024-12-3101215816core:BetweenTwoFiveYears2023-09-3001215816core:MoreThanFiveYears2024-12-3101215816core:MoreThanFiveYears2023-09-3001215816bus:PrivateLimitedCompanyLtd2023-10-012024-12-3101215816bus:FRS1022023-10-012024-12-3101215816bus:Audited2023-10-012024-12-3101215816bus:FullAccounts2023-10-012024-12-31xbrli:purexbrli:sharesiso4217:GBP