Company Registration No. 13098451 (England and Wales)
FOR THE PERIOD ENDED 31 DECEMBER 2024
Sumer Auditco Limited
Chartered Accountants and Statutory Auditors
14th Floor
33 Cavendish Square, London
W1G 0PW
COMPANY INFORMATION
CONTENTS
GROUP STRATEGIC REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
The board presents the strategic report together with the consolidated financial statements of the group for the period ended 31 December 2024.
The group’s principal activities are providing workforce solutions encompassing recruitment, technology, workforce management and training solutions to infrastructure, building and civil engineering businesses, property development and property investment.
The board uses a variety of financial and non-financial KPI’s to measure and manage the group’s operations efficiently. Financial KPI’s include, but are not limited to, turnover, profit margin and net assets.
The performance of the business was in line with the directors expectations and the group generated a profit of £2.3m (2023: £9m) after tax with a turnover of £247.7m (2023: £144m) and the net assets of the group as at 31 December 2024 was £23.5m.
The year has experienced significant pressure on margins from government infrastructure projects and the group has taken actions to address this change in the business.
The directors remain committed to managing the group’s strategic direction to match that of the markets it operates in currently and the new markets it is seeking to enter. A key focus point for the directors is on expanding the service offering of the business to its existing customers and acquiring new customers to service. The directors deem it essential that the business continues to remain on a strong sustainable footing financially and continues to be a key strategic partner of its customers, suppliers and stakeholders. The key performance indicators above show a consistent and growing business.
The year has experienced significant pressure on margins from government infrastructure projects and the group has taken actions to address this change in the business.
The directors remain committed to managing the group’s strategic direction to match that of the markets it operates in currently and the new markets it is seeking to enter. A key focus point for the directors is on expanding the service offering of the business to its existing customers and acquiring new customers to service. The directors deem it essential that the business continues to remain on a strong sustainable footing financially and continues to be a key strategic partner of its customers, suppliers and stakeholders. The key performance indicators above show a consistent and growing business.
The group continues to work on some of the largest construction and infrastructure projects currently in progress in the UK. The group is leading the sector in technology driven automation of its processes which is assisting the group in maintaining sustainable profit margins despite the competitive marketplace. The directors remain committed to optimal digitisation of the group’s operation to offer more efficient, safer and cost effective solutions to the marketplace.
The group has a strong balance sheet with strong liquidity, a healthy order book from long standing blue-chip customers and no third party borrowing. The directors are confident that the group can continue to trade successfully for the foreseeable future and meet its obligations as they fall due. As such, the group continues to adopt the going concern basis in its preparation of these financial statements.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
The companies within the group have been successfully trading for the past 35 years since 1991 but it had its origin in the early 1980's and strives to promote and retain the family culture in all that it does. Whilst the business is built on tradition and family values, it continues to evolve to meet the needs of our clients, staff and stakeholders to ensure a superior level of service and performance.
The primary responsibility of the Board is to promote the long term success of the group for the benefit of the shareholders, but the directors acknowledge that long term success and reputation is dependent on our responsibility to balance the interests of all other stakeholders who we come into contact with, in order to deliver the best possible outcome for all concerned.
Section 172 of the Companies Act 2006 requires us to report each year on how we fulfil these obligations.
Customers
Section 172 of the Companies Act 2006 requires us to report each year on how we fulfil these obligations.
Customers
Our customers are at the heart of our business, with whom we are in constant dialogue and we strive to give them the best possible service and to enhance our relationship for our mutual benefit and that of the wider community.
Our employees
Our employees
Our employees are key to the success of our business. We have a ‘hands-on’ family culture where our directors and managers are actively involved on our projects on a day-to-day basis and who constantly engage with our employees and keep them informed of business development, forecasts and prospects. We have longstanding experienced employees, we expect and maintain high standards and we offer a rewarding career progression. Health and safety training and wellbeing is a constant that is promoted and maintained as a core value. We thank our employees for their dedication and commitment.
Subcontractors and suppliers
Subcontractors and suppliers
We constantly assess and monitor the strong links we have with our suppliers who are a crucial part of our successful business and without whom we could not operate, so we treat them in the same way we treat our employees in terms of communication, payment, terms and conditions and inclusivity and who we expect to adhere to our high standards. Our policy remains to pay our suppliers promptly at the end of the month following the month of delivery and this applies to the vast majority of our transactions. Where different terms are agreed in certain circumstances we are committed to adhering to our side of such agreements.
Local community and the environment
Local community and the environment
We acknowledge the external impact of our activities on local communities and on the environment. We create local employment opportunities in our areas of operation and we engage local subcontractors and we do business with local suppliers.
Other controls
Other controls
We acknowledge our ethical, moral and social responsibilities and the aim of the group to maintain high standards of business conduct remains paramount. We are opposed to all forms of discrimination. We obtain external assurance through audits and through national and international standards compliance and accreditations.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
The group’s principal activities expose the business to a variety of risks which are listed in this section. The group manages these risks by ensuring rigorous financial controls and management and governance structures are in place.
The board reviews and agrees policies for managing each of these risks and they are summarised below:
The board reviews and agrees policies for managing each of these risks and they are summarised below:
Credit risk
The group’s credit risks are mainly attributable to the trade debtors. The policy remains to work with a diverse group of long standing blue chip customers and to operate with a modern and efficient financial and management reporting system that monitors customers and debtors’ book on a day to day basis.
Liquidity risk
The group finances its operations through a mixture of cash reserves in the bank and working capital generated through trading. The group does not have any complex financial instruments or hedging products and neither does it have any loans or overdrafts. The directors are confident that through continued prudent and considered liquidity management the group can meet its obligations as they fall due.
Health and safety risk
The group recognises the fundamental importance of health and safety of its staff, customers and the communities it operates in and as such health and safety remains at the top of the group’s business management principles. Further details are set out in the 'Health and Safety' note below.
The success of the group is dependent upon recruiting and retaining skilled management, trades people and support staff and the employment policy is designed to attract, train and provide rewarding and challenging career opportunities that succeeds in retaining the best people.
The group embraces its corporate social responsibility by integrating social and environmental concerns into all aspects of its business operations. The group ensures that high standards are maintained for the benefit of all stakeholders, including our staff and the wider community.
The group’s mission is to ensure that it’s client’s infrastructure projects are staffed with outstanding capability and exceptional performance, achieved by prioritising the safety, wellbeing and development of it’s people. The directors and senior managers, aided by the group’s dedicated in house head of Health, Safety, Environment and Quality and professionals, continue to promote market leading health and safety policies, practices and awareness throughout the group’s operations. In doing so, the group continues to support the health and safety and environmental policies of our customers, and the construction industry generally.
The group also recognises that there can be no true health without mental health, and the health and safety team has developed a Mental Health Champion Program where site supervisors are trained to identify and support colleagues who may be struggling with mental health issues.
The group holds all the required health and safety accreditations for a large construction group such as: ISO 45001, CHAS, RISQS, Achilles Building Confidence and UVDB.
The group also recognises that there can be no true health without mental health, and the health and safety team has developed a Mental Health Champion Program where site supervisors are trained to identify and support colleagues who may be struggling with mental health issues.
The group holds all the required health and safety accreditations for a large construction group such as: ISO 45001, CHAS, RISQS, Achilles Building Confidence and UVDB.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
As a supplier of professional and trades people to the construction industry, the group believes it needs to make a significant contribution to protecting the environment. The group is ISO 14001: 2015 accredited, which is the internationally recognised environmental standard.
Quality management is central to the group’s business and helps it to deliver value and efficiency and meet and exceed customers’ requirements and expectations. To maintain and continue to meet these needs, there are processes put in place and the group encourages all stakeholders to participate in helping to make these rigorous improvements. The group holds full accreditation to quality standards ISO 9001 Quality Management.
Quality management is central to the group’s business and helps it to deliver value and efficiency and meet and exceed customers’ requirements and expectations. To maintain and continue to meet these needs, there are processes put in place and the group encourages all stakeholders to participate in helping to make these rigorous improvements. The group holds full accreditation to quality standards ISO 9001 Quality Management.
The directors look forward with confidence to continue the success of the group into the future.
This report was approved by the board on 26 September 2025 and signed on its behalf.
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DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the period ended 31 December 2024.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
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 the Group and to 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.
The profit for the period, after taxation, amounted to £2,261,118.
No dividends (2023: £Nil) were paid during the period and the directors do not recommend payment of a final dividend.
The directors who served during the period were:
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DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
Methodology
The above data has been reported in accordance with “GHG Reporting Protocol - Corporate Standard" methodology.
Energy Efficiency actions undertaken during the reporting period:
•Embarked on a hybrid working model to reduce energy consumptions
•Installed PIR (motion) lighting control
•Improved thermal performance of glazing and doors at head office
•Established policy to improve control of office heating, lighting and small power energy consumption
•Refurbished the office to make it more environmentally friendly.
The group has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group'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 future developments, principal risks and uncertainties.
Riordan O'Sullivan & Co, the previous auditors, have transferred their audit business to Sumer Auditco Limited who will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 26 September 2025 and signed on its behalf.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CH PARACHUTE VENTURES LIMITED
We have audited the financial statements of CH Parachute Ventures Limited (the 'parent company') and its subsidiaries (the 'Group') for the period ended 31 December 2024, which comprise the Consolidated Profit and Loss Account, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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 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 United Kingdom, including the Financial Reporting Council'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.
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 or 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.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CH PARACHUTE VENTURES LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
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 Directors' Report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CH PARACHUTE VENTURES LIMITED (CONTINUED)
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 Auditors' 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 Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory framework applicable to the group and the industry in which it operates, through discussions with directors and senior management and from our commercial knowledge and experience of the construction industry.
We focused on specific laws and regulations which we considered may have a material effect on the financial statements or the operations of the group, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation.
We assessed the extent of compliance with these laws and regulations through discussions and enquiry with directors and senior management.
We assessed the susceptibility of the group's financial statements to material misstatement, including how fraud might occur.
We considered the financial controls in place to mitigate risks of fraud and error, including the risk of management bias or override. We tested the appropriateness of journal entries that appeared unusual as to nature or amount.
Our audit procedures were designed to respond to the risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment or collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations are from financial transactions, the less likely we are to become aware of it.
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 Auditors' Report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CH PARACHUTE VENTURES LIMITED (CONTINUED)
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 Auditors' 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.
for and on behalf of
Chartered Accountants and Statutory Auditors
14th Floor
33 Cavendish Square
W1G 0PW
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CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 11
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2025 .
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COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2025 .
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
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COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
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CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE PERIOD ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
CH Parachute Ventures Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Barretts Green Road, Park Royal, London, NW10 7AE.
The group consists of CH Parachute Ventures Limited and all of its subsidiaries.
The group consists of CH Parachute Ventures Limited and all of its subsidiaries.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company and group.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and Loss Account in these financial statements.
The following principal accounting policies have been applied:
The group financial statements consolidate the financial statements of the company and its subsidiary undertakings using acquisition accounting at the balance sheet date. A subsidiary is an entity that is controlled by another entity, known as the parent. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The results of subsidiary undertakings acquired or disposed of during a financial period are included from, or to, the effective date of acquisition or disposal. All financial statements are made up to 31 December each year. Intra group balance, sales and profits are eliminated fully on consolidation. Uniform accounting policies have been adopted across the group.
The Strategic Report sets out the group's business activities, and highlights the factors which may impact on its financial performance, market position and future prospects.
The Strategic Report also provides information in relation to the group's principal risks and uncertainties, including details of its financial instruments, management of capital and exposure to credit and liquidity risk.
The group has a substantial order book for the twelve months from the date of approval of these financial statements and its forecasts indicate that it will continue to generate profit and positive cash flows for the foreseeable future.
As a consequence, the directors believe that the group has adequate resources to continue in operational existence and that it is well placed to continue to manage its business risks successfully. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
The Strategic Report also provides information in relation to the group's principal risks and uncertainties, including details of its financial instruments, management of capital and exposure to credit and liquidity risk.
The group has a substantial order book for the twelve months from the date of approval of these financial statements and its forecasts indicate that it will continue to generate profit and positive cash flows for the foreseeable future.
As a consequence, the directors believe that the group has adequate resources to continue in operational existence and that it is well placed to continue to manage its business risks successfully. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Turnover from the sale of development properties is recognised when the group has transferred all control and significant risks and rewards of ownership to the buyer, the amount receivable can be measured reliably, it is probable that the group will receive consideration and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
The contributions are recognised as an expense in the Profit and Loss Account when they fall due. Amounts not paid are shown as a liability in the Balance Sheet. The assets of the plan are held separately from the group in independently administered funds.
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.
The tax expense for the year comprises current and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the period. 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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Goodwill
Software Development
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Freehold properties are maintained so as to ensure that their values do not diminish over time. The maintenance costs are charged to the profit and loss account in the year in which they are incurred. In the director's opinion, depreciation would be immaterial and has not been charged.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Group's Balance Sheet when the Group 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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Tangible and intangible fixed assets
Tangible and intangible fixed assets are depreciated or amortised over their useful 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 such as technological innovations, maintenance and projected disposal values.
Provisions
The Group, from time to time, receive claims in respect of services performed. In assessing the potential outcome of a claim, the directors make a judgement to assess the probable outcome of the matter. A different judgement may affect both the timing and extent of the recognition of expenses and liabilities as well as the disclosure within these financial statements.
Provisions for claims are liabilities of an uncertain timing and amount therefore, in making a reliable estimate of the amount and timing of such liabilities, judgement is applied. These estimates depend on the outcome and timing of future events and may need to be revised as circumstances change.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 24
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 25
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 26
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
11.Taxation (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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Page 31
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 32
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Other creditors represents £7,493,000 (2023: £7,493,000) redeemable preference shares issued, redeemable with the consent of ordinary shareholders. 2% interest per annum is accruing on the shares and is payable on demand and therefore has been included in short term creditors.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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Page 34
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
During the period, the company allotted and issued 999,900 ordinary bonus shares by way of transfer from profit and loss reserve at an aggregate nominal value of £1 each.
Page 35
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
24.Business combinations (continued)
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £1,606,151 (2023: £1,038,136). Contributions totalling £49,344 (2023: £43,707) were payable to the fund at the balance sheet date and is included in creditors.
Timothy O'Sullivan and Kacey O'Driscoll who hold 100% of the shares in CH Parachute Ventures Limited are the ultimate controllers of the group.
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