REGISTERED NUMBER: 12524816 (England and Wales)

Group Strategic Report, Report of the Director and

Audited Consolidated Financial Statements for the Year Ended 30 September 2024

for

MJ Robertson Group Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Director

6

Report of the Independent Auditors

8

Consolidated Income Statement

11

Consolidated Other Comprehensive Income

13

Consolidated Balance Sheet

14

Company Balance Sheet

15

Consolidated Statement of Changes in Equity

16

Company Statement of Changes in Equity

17

Consolidated Cash Flow Statement

18

Notes to the Consolidated Cash Flow Statement

19

Notes to the Consolidated Financial Statements

21

DIRECTOR:

M J Robertson

REGISTERED OFFICE:

Treviot House

186-192 High Road

Ilford

Essex

IG1 1LR

REGISTERED NUMBER:

12524816 (England and Wales)

AUDITORS:

Gravita Essex Limited

Chartered Certified Accountants and

Statutory Auditors

Treviot House

186-192 High Road

Ilford

Essex

IG1 1LR

The director presents his strategic report of the company and the group for the year ended 30 September 2024.

REVIEW OF BUSINESS

The director aims to present a balanced review of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties faced.

The director considers the following traditional measures to be the key financial performance indicators

2024

2023 as restated

Change

Turnover

£127,484,211

£154,967,427

-17.7%

Gross profit

(£3,945,293

)

£6,702,186

-158.9%

Profit/(Loss) after tax

(£1,073,772

)

£2,193,768

148.9%

Retained earnings

£109,876

£1,637,357

-93.3%

Current assets as % of current liabilities

103%

94%

8.8%

During the reporting period, Atlas Commodities Limited entered administration following a series of financial setbacks. The company had engaged in forward contracts to hedge against expected volatility in raw material prices; however, the market value of the underlying goods dropped sharply below the contracted rates. This led to substantial losses on those positions and a marked devaluation of inventory, significantly eroding gross margins. Attempts to restructure short-term liabilities through revised payment arrangements were unsuccessful, as key creditors rejected the proposed terms and proceeded to demand immediate repayment of outstanding debts. Up to the date of administration Atlas Commodities Limited incurred losses of £10,058,948. On that date, net liabilities amounted to £8,877,997, which have been recognised in the consolidated income statement as a gain on the loss of control of subsidiary.

PRINCIPAL RISKS AND UNCERTAINTIES

Following Atlas Commodities Limited falling into administration, the principal risks of the business are falling property values and competition within the beachwear industry.

FUTURE DEVELOPMENTS

The Group will exit the metal and waste industry and focus on investment property and beachwear.

FINANCIAL INSTRUMENTS

During the year, the Group used forward foreign currency contracts in order to raise finance for the company's operations.This ended when Atlas Commodities limited fall into administration.

SECTION 172(1) STATEMENT

This statement sets out how the Director has fulfilled their duty to comply with the requirements of Section 172 of Companies Act 2006 and explains how the director has considered broader stakeholder interests when making decisions to promote the success of the Group.

Basis of decision making

Business decisions are made with the needs of key stakeholders in mind, in particular: customers, shareholders, employees,suppliers and regulators.

Engagement with stakeholders

The Director is committed to effective engagement with stakeholders. Depending on the nature of the issue in question, the relevance of each stakeholders group may differ and, as such, as part of its engagement with stakeholders, the Director seeks to understand the relative interests and priorities of each group and to have regard to these, as appropriate, in its decision making. The Director acknowledges that not all decisions will necessarily result in a positive outcome for all stakeholders.

ENGAGEMENT WITH EMPLOYEES

The Group continues to place a strong emphasis on a mutually beneficial relationship with its employees, whom it regards as fundamental to the future success of the Group.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

Suppliers

The Group enters into a variety if agreements with service providers and suppliers and aims to treat all suppliers fairly, openly and as valued partners.

Customers

The Group is committed to ensuring that all customers are treated fairly, that positive customer outcomes are achieved, and that customer interests are considered as part of decision-making at every level within the Group.

Regulators

Group members positively engage with laws and regulations to uphold it's responsibilities to stakeholders.

Environment

The Group carefully considers it's impact on the environment and adopts environmentally friendly procedures wherever possible.

STREAMLINED ENERGY AND CARBON REPORTING

No Streamlined Energy and Carbon Reporting (SECR) has been done for 2024 due to the administration of Atlas Commodities Limited, as explained above. Below represents the comparative information for 2023.

In line with the UK Government's Streamlined Energy and Carbon Reporting (SECR) framework, the table below shows the UK operational energy and carbon footprint for Atlas Commodities Limited for 2023.

The operational energy and carbon footprint for MJ Robertson Group Limited and MJ Robertson Limited were not assessed where immaterial.

1 October 2022 - 30 September 2023

Type of emission

Activity

kWh

tCO2e

% of total

Scope 1

Natural Gas

77,719

14.22

2.97%

Propane

0

0

0%

Vehicle Fleet

1,965,866

453.09

94.52%

Sub-total

2,043,585

467.31

97.49%

Scope 2

Electricity

53,944

11.17

2.33%

Sub-total

53,944

11.17

2.33%

Scope 3

Grey fleet

3,558

0.86

0.18%

Sub-total

3,558

0.86

0.18%

Total gross

consumption/emission

2,101,087

479.34

100.00%

Metric Used:

£m net external sales

157.50

Intensity ratio:

tonnes of CO2e per £m

net external sales

3.04

GHG emissions and energy consumption

The increase in declared emissions and intensity ratio in 2023 was almost entirely due to bulk purchases of diesel to power site machinery. The declared diesel usage in the period was 177,793 litres while the grey fleet declared mileage of 3,216 miles.

Intensity ratio

It was decided that the most meaningful intensity metric (i.e. one which would allow stakeholders to quantify Atlas Commodities Ltd's environmental impact relative to a given amount of goods and/or services provided) would be one based on net £m external sales revenue (i.e. excluding any intercompany sales). The resulting intensity ratio of tCO2e per total £m external sales revenue will best illustrate improvements in real energy efficiency over time.

Efficiency narrative

During the reporting period Atlas Commodities Ltd did not implement any additional energy efficiency/emission reduction measures.

Quantification and Reporting Methodology

The methodology used in this report is The GHG Protocol Corporate Accounting and Reporting Standard combined with 2013 UK Government Environmental Reporting Guidelines (updated March 2019). We have used the 2023 UK Government's Conversion Factors for Company Reporting and Chartered Institution of Building Services Engineers ('CIBSE') 2021 average conversion factors where metered energy consumption was not available.

Organisational boundary

The organisational boundary is based upon operational control.

Data Quality

SECR reports are required to be relevant, quantitative, accurate, complete, consistent, comparable and transparent. Ideally, they should be based upon primary data. Audit are reliant upon data provided by Atlas Commodities Ltd. It is acceptable to use secondary data where primary data is not available or where the available data is insufficient, provided that this is disclosed and transparent. It is also permissible to use secondary or estimated data in cases where it is not practical to obtain anything better. In this instance, Audit took the view that to insist on being provided with primary data with which to check summary data already provided was unfairly burdensome, however we have reservations regarding some aspects of data quality and would hope to see this addressed in future reports.

ON BEHALF OF THE BOARD:

M J Robertson - Director

24 September 2025

The director presents their report with financial with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITIES

The principal activity of the group in the year under review was that of wholesale of waste and scrap. The strategic objective is to be a leader in enabling decarbonisation and helping to meet continued demand for the metals needed in everyday life while responsibly and sustainably meeting the needs of today.

The second principal activity of the group in the year under review was that of investment property.

DIVIDENDS

The total distribution of dividends for the year ended 30 September 2024 was £1,112,000 (£2023: £1,480,000) for the group and £409,000 (2023: £250,000) for the Company. The director recommends that no final dividend be paid.

DIRECTOR

M J Robertson held office during the whole of the period from 1 October 2023 to the date of this report.

BRANCHES

The Group has an established branch in the United Arab Emirates via a consolidated subsidiary; their results are, however, not material to the Group's financial results. The branch has closed during the year due to the subsidiary going into liquidation.

STRATEGIC REPORT

The Directors have chosen in accordance with S414c of the Companies Act to set out in the 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.

GOING CONCERN

In making their assessment of going concern, as described in the Directors' Report, the directors have considered detailed forecasts of expected revenues, expenditure and cash flows and taken into consideration existing banking facilities of the wider group.

The directors are of the opinion that the group has sufficient funds available to finance its operations for the foreseeable future following the date of approval of these financial statements and accordingly have prepared the financial statements on the going concern basis.

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

M J Robertson - Director

24 September 2025

Disclaimer of Opinion

We have audited the financial statements of MJ Robertson Group 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).

We were engaged to have audited the financial statements of MJ Robertson Group 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).

We do not express an opinion on the accompanying financial statements of the group. Because of the significance of the matter described in the basis for disclaimer of opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on the group's financial statements for the year ended 30 September 2024.

In our opinion, the parent company's financial statements:

o give a true and fair view of the state of the parent company's affairs as at 30 September 2024;

o have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

o have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for disclaimer of opinion

During the year, the company's principal subsidiary, Atlas Commodities Limited, entered into administration and we were not able to obtain sufficient appropriate audit evidence over the transactions in the consolidated income statement or statement of other comprehensive income pertaining to this subsidiary. As a result of this matter, we were unable to determine whether any adjustments might have been found necessary in respect of group's loss for the year in the consolidated income statement and statement of other comprehensive income.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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.

Owing to the nature of the limitation on our work described in the basis for disclaimer of opinion section of our report, we are unable to determine whether we have anything to report in this regard on matters pertaining to the group.

We have nothing to report in this regard in respect of the other information pertaining to the company.

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 Director 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 Director have been prepared in accordance with applicable legal requirements.

Because of the significance of the matter described in the basis for disclaimer of opinion section of our report, we have been unable to form our opinion, whether based on the work undertaken in the course of the audit:

o the information given in the strategic report and directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

o the strategic report and directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

Notwithstanding our disclaimer of an opinion on the financial statements, in the light of the knowledge and understanding of the company and its environment obtained in the course of the audit performed subject to the pervasive limitation described above, we have not identified material misstatements in the strategic report or the directors' report.

Arising from the limitation of our work referred to above:

o we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

o we were unable to determine whether adequate accounting records have been kept.

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:

o adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

o the financial statements are not in agreement with the accounting records and returns; or

o certain disclosures of directors' remuneration specified by law are not made; or

o we have not received all the information and explanations we require for our audit

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 director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement set out on page six, the director is 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 director determines 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 director is 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

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 objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatements due to fraud and error; and to respond appropriately to these risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned in accordance with the ISA's (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations our procedures included the following:

- We obtained an understanding of the legal and regulatory frameworks applicable to the group and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006 and the UK corporate taxation laws,

- We obtained an understanding of how the group are complying with the with those legal and regulatory frameworks by making enquiries with the companies directors. We corroborated our inquiries through our review of the board minutes and other information provided to the audit team.

We assessed the susceptibility of the group's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process

- Challenging assumptions and judgements made by management in its significant accounting estimates

- Identifying and testing journal entries, in particular any journal entries posted with unusual account collaborations

- Assessing the extent of compliance with the relevant 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.

Jennifer Cessini FCCA (Senior Statutory Auditor)

for and on behalf of Gravita Essex Limited

Chartered Certified Accountants and

Statutory Auditors

Treviot House

186-192 High Road

Ilford

Essex

IG1 1LR

25 September 2025

TURNOVER

3

57,576

127,426,635

127,484,211

Cost of sales

-

(131,427,504

)

(131,427,504

)

GROSS PROFIT/(LOSS)

57,576

(4,000,869

)

(3,943,293

)

Administrative expenses

(51,329

)

(5,620,994

)

(5,672,323

)

OPERATING PROFIT/(LOSS)

5

6,247

(9,621,863

)

(9,615,616

)

Gain on loss of control of

subsidiary

7

-

8,877,997

8,877,997

6,247

(743,866

)

(737,619

)

Interest receivable and similar income

5,634

595

6,229

Interest payable and similar expenses

8

(47,080

)

(401,680

)

(448,760

)

LOSS BEFORE TAXATION

(35,199

)

(1,144,951

)

(1,180,150

)

Tax on loss

9

108,378

-

108,378

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

73,179

(1,144,951

)

(1,071,772

)

Profit/(loss) attributable to:

Owners of the parent

(1,118,481

)

Non-controlling interests

46,709

(1,071,772

)

TURNOVER

3

85,474

154,881,953

154,967,427

Cost of sales

-

(148,265,240

)

(148,265,240

)

GROSS PROFIT

85,474

6,616,713

6,702,187

Administrative expenses

(279,879

)

(3,635,390

)

(3,915,269

)

(194,405

)

2,981,323

2,786,918

Other operating income

-

69,184

69,184

OPERATING (LOSS)/PROFIT

5

(194,405

)

3,050,507

2,856,102

Interest receivable and similar income

3,976

20,589

24,565

Interest payable and similar expenses

8

(3,054

)

(373,525

)

(376,579

)

(LOSS)/PROFIT BEFORE TAXATION

(193,483

)

2,697,571

2,504,088

Tax on (loss)/profit

9

-

(310,319

)

(310,319

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(193,483

)

2,387,252

2,193,769

(Loss)/profit attributable to:

Owners of the parent

1,003,181

Non-controlling interests

1,190,588

2,193,769

(LOSS)/PROFIT FOR THE YEAR

(1,071,772

)

2,193,769

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(1,071,772

)

2,193,769

Total comprehensive income attributable to:

Owners of the parent

(1,118,481

)

1,003,181

Non-controlling interests

46,709

1,190,588

(1,071,772

)

2,193,769

FIXED ASSETS

Tangible assets

13

-

5,335,688

Investments

14

51

302

Investment property

15

1,574,967

1,574,967

1,575,018

6,910,957

CURRENT ASSETS

Stocks

16

-

20,991,953

Debtors

17

891,619

14,643,380

Cash at bank and in hand

9,348

5,956,311

900,967

41,591,644

CREDITORS

Amounts falling due within one year

18

(876,007

)

(44,211,209

)

NET CURRENT ASSETS/(LIABILITIES)

24,960

(2,619,565

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,599,978

4,291,392

CREDITORS

Amounts falling due after more than one year

19

(1,490,000

)

(1,997,642

)

NET ASSETS

109,978

2,293,750

CAPITAL AND RESERVES

Called up share capital

23

102

102

Retained earnings

24

109,876

1,637,357

SHAREHOLDERS' FUNDS

109,978

1,637,459

NON-CONTROLLING INTERESTS

25

-

656,291

TOTAL EQUITY

109,978

2,293,750

The financial statements were approved by the director and authorised for issue on 24 September 2025 and were signed by:

M J Robertson - Director

FIXED ASSETS

Tangible assets

13

-

-

Investments

14

52

203

Investment property

15

-

-

52

203

CURRENT ASSETS

Debtors

17

1,341,904

1,942,042

Cash at bank and in hand

102

12,464

1,342,006

1,954,506

CREDITORS

Amounts falling due within one year

18

(622,379

)

(1,945,956

)

NET CURRENT ASSETS

719,627

8,550

TOTAL ASSETS LESS CURRENT LIABILITIES

719,679

8,753

CREDITORS

Amounts falling due after more than one year

19

(610,000

)

-

NET ASSETS

109,679

8,753

CAPITAL AND RESERVES

Called up share capital

23

102

102

Retained earnings

24

109,577

8,651

SHAREHOLDERS' FUNDS

109,679

8,753

Company's profit for the financial year

509,926

520,570

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

The financial statements were approved by the director and authorised for issue on 24 September 2025 and were signed by:

M J Robertson - Director

Called up

share

Retained

Non-controlling

Total

capital

earnings

Total

interests

equity

£

£

£

£

£

Balance at 1 October 2022

102

884,176

884,278

695,703

1,579,981

Changes in equity

Dividends

-

(250,000

)

(250,000

)

(1,230,000

)

(1,480,000

)

Total comprehensive income

-

1,003,181

1,003,181

1,190,588

2,193,769

Balance at 30 September 2023

102

1,637,357

1,637,459

656,291

2,293,750

Changes in equity

Dividends

-

(409,000

)

(409,000

)

(703,000

)

(1,112,000

)

Total comprehensive income

-

(1,118,481

)

(1,118,481

)

46,709

(1,071,772

)

Balance at 30 September 2024

102

109,876

109,978

-

109,978

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 October 2022

102

(261,919

)

(261,817

)

Changes in equity

Dividends

-

(250,000

)

(250,000

)

Total comprehensive income

-

520,570

520,570

Balance at 30 September 2023

102

8,651

8,753

Changes in equity

Dividends

-

(409,000

)

(409,000

)

Total comprehensive income

-

509,926

509,926

Balance at 30 September 2024

102

109,577

109,679

Cash flows from operating activities

Cash generated from operations

1

(4,753,963

)

12,301,822

Interest paid

(308,571

)

(309,447

)

Interest element of finance leases

(140,189

)

(66,714

)

Tax paid

489,483

-

Net cash from operating activities

(4,713,240

)

11,925,661

Cash flows from investing activities

Purchase of tangible fixed assets

(1,186,263

)

(1,535,697

)

Purchase of fixed asset investments

-

(250

)

Purchase of investment property

-

(107,524

)

Sale of tangible fixed assets

1,866,608

68,755

Cash lost on loss of control of subs

(19,230

)

-

Interest received

595

5,406

Net cash from investing activities

661,710

(1,569,310

)

Cash flows from financing activities

New loans in year

1,400,000

950,000

Loan repayments in year

-

(280,280

)

Loans to/from related parties

(3,216

)

668,491

Invoice discounting

(851,300

)

(6,549,496

)

Amount introduced by directors

651,561

478,216

Amount withdrawn by directors

(494,833

)

(696,575

)

Finance Lease contracts

(1,358,470

)

(357,853

)

Equity dividends paid

(409,000

)

(250,000

)

Dividends paid to minority interests

(703,000

)

(1,230,000

)

Net cash from financing activities

(1,768,258

)

(7,267,497

)

(Decrease)/increase in cash and cash equivalents

(5,819,788

)

3,088,854

Cash and cash equivalents at beginning of year

2

5,956,311

2,867,457

Effect of foreign exchange rate changes

(127,176

)

-

Cash and cash equivalents at end of year

2

9,347

5,956,311