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Registered number:
FOR THE YEAR ENDED 30 APRIL 2025
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WAYNE CONNOLLY HOLDINGS LIMITED
COMPANY INFORMATION
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WAYNE CONNOLLY HOLDINGS LIMITED
CONTENTS
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WAYNE CONNOLLY HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
The company is a holding company and has one wholly owned subsidiary- Connolly Scaffolding Limited, whose principal activity continues to be the erect and hire of scaffolding to main contractors and owner developers.
The Group’s commitment to strategic focus has translated into a period of sustained business performance, marked by tangible and solid results. Over the review period, the Group has maintained its competitive edge through thoughtful consolidation, prudent financial management, and operational efficiency. This disciplined approach has ensured that overheads remain stable, even in the face of inflationary pressures, while allowing for the successful reduction of borrowings and the streamlining of business operations. As a direct result of these efforts, the Group has not only preserved its financial health but also reinforced its market reputation through reliable project delivery and a proactive stance on environmental, social, and governance (ESG) matters. The integration of innovative practices, such as achieving full digitisation of management systems, underscores the Group’s adaptability and readiness to embrace best-in-class solutions. Collectively, these elements underpin a robust foundation for continued growth, enabling the Group to thrive amid industry challenges and set a benchmark for excellence within its sector.
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WAYNE CONNOLLY HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
At the heart of the Group’s operations lies a disciplined focus on three interlinked pillars: people, clients, and innovation. The Group’s core purpose is to deliver reliable scaffolding solutions while maintaining the highest standards in workforce training, client engagement, and technological advancement. By investing significantly in apprenticeship programmes and continuous professional development, as a Group not only nurtures its internal talent but also ensures that a highly skilled workforce is available to meet industry demands. This emphasis on learning and adaptability distinguishes the Group as an employer of choice within the sector and equips the company to respond swiftly and effectively to evolving project requirements.
On the commercial front, the Group’s strategic withdrawal from less profitable markets is a testament to its commitment to sustainability and long-term value creation. The Group now channels its efforts towards larger projects to include infrastructure and rail contracts—areas where its expertise in complex, large-scale projects sets it apart. This targeted sector focus has yielded a robust forward order book and cemented the Group’s reputation for dependable delivery and technical competence. Innovation underpins all aspects of the Group’s approach, from the adoption of modern system scaffolding to the digitisation of management systems. By integrating new technologies and maintaining close ties with finance providers, strengthens both operational resilience and financial stability. This blend of investment, targeted sector engagement, and continuous staff development defines the Group’s core focus—enabling the Group to deliver safe, efficient, and innovative solutions while safeguarding its future in a dynamic marketplace. Looking ahead, the Group is well-positioned to build on its current strengths through a deliberate focus on three areas: staffing, client engagement, and supply chain resilience. The Group’s robust apprenticeship and training programmes ensure a pipeline of highly skilled workers, supporting both operational excellence and the capacity to respond to market opportunities. With all employees engaged in continuous professional development, the Group fosters a culture of learning and adaptability, crucial for navigating sector shifts and driving innovation. On the client front, strategic withdrawal from certain market segments—such as new build residential and social housing—has enabled a concentration on more profitable and sustainable areas like infrastructure and rail. This targeted approach not only secures a strong forward order book but also enhances the Group’s reputation among key clients seeking reliability and expertise in complex projects. Supply chain strategy remains integral to the Group’s growth. Continued investment in modern system scaffolding has reduced dependency on labour while enhancing project delivery and safety. By maintaining strong relationships with finance providers and monitoring cashflow closely, the Group is well-equipped to weather fluctuations in the wider market. This prudent, risk-aware stance—coupled with a commitment to innovation and staff development—creates a resilient foundation, allowing the Group to pursue sustainable expansion while meeting the evolving needs of its clients and safeguarding supply chain stability. The Group has shown resilience and strategic focus. With strong financials, a robust order book, and ongoing investment in people and systems, the company is well-positioned for sustainable growth. Continued attention to risk management, sector expansion, and operational efficiency will be key to future success.
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WAYNE CONNOLLY HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Liquidity risk:
The Group manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the Group has sufficient liquid resources to meet the operating needs of the business. The Group manages the risk by maintaining regular contact with existing finance providers to evaluate options in future funding decisions. Interest rate risk: The Group is exposed to interest rate risk on Current Account. The Group manages the risk by constantly monitoring their policies to ensure that they are not exposed to short term interest rate movements. Credit risk: The Group is not exposed to a high degree of credit risk as surplus funds are minimised due to working capital requirements. These are then retained in either a short term current account or call deposit account as agreed by the Board of Directors. The Group manages this risk by continuously considering the credit ratings of financial institutes that they have relationships with.
The directors have prepared detailed cashflow forecasts, budgets and with a strong pipeline of projects (including forward order book) for the next 12 months, all demonstrate that the business will remain profitable, and will continue to reduce borrowings leaving a positive cash position at the year-end 2025-26.
The business monitors the cashflow, as part of its daily control procedures, and the directors consider the cash and future requirements of the business on a regular basis to ensure that appropriate funds are available. The business has assumed the current available support will continue and accordingly consider it appropriate that the accounts are prepared on an ongoing concern basis. Financially, the Group has demonstrated solid progress. The group reported a turnover increase of £895,751 (12.7% increase) although, the gross profit margin dipped to 34.2% from 38.3%. Operating profit decreased by £151,714. However the Group continually review costs to make efficiency improvements. The Group’s EBITDA is £1,393,905 compared with £1,546,884 in the previous accounting period. These results signal prudent management and lay the groundwork for continued sustainable growth.
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WAYNE CONNOLLY HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
This report was approved by the board and signed on its behalf.
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WAYNE CONNOLLY HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
The directors present their report and the financial statements for the year ended 30 April 2025.
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 judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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 year, after taxation, amounted to £497,514 (2024 - £923,244).
The directors who served during the year were:
The Group does not intend to decrease its trade.
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WAYNE CONNOLLY HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
There have been no significant events affecting the Group since the year end.
The auditors, Hardy & Company (Hyde) Ltd, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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WAYNE CONNOLLY HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WAYNE CONNOLLY HOLDINGS LIMITED
We have audited the financial statements of Wayne Connolly Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 April 2025, which comprise the Consolidated statement of income and retained earnings, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows 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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WAYNE CONNOLLY HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WAYNE CONNOLLY HOLDINGS 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 year 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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WAYNE CONNOLLY HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WAYNE CONNOLLY HOLDINGS 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:
Based on our understanding of the company and sector, we identified that the principal risks of non-compliance
with laws and regulations related to the Companies Act 2006 and the UK tax legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We evaluated management incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks were related to management bias in accounting estimates and judgements, revenue recognistion and going concern. Our procedures to respond to risks identified include making enquiry of management and those charged with governance, reviewing financial statement disclosures and testing to support documentation to assess compliance with applicable laws and regulations, auditing the risk of management overide of controls, including testing of journal entries and other adjustments for appropriateness.
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.
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.
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WAYNE CONNOLLY HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WAYNE CONNOLLY HOLDINGS LIMITED (CONTINUED)
for and on behalf of
Chartered Certified Accountants and Registered Auditors
Onward Chambers
34 Market Street
Hyde
Cheshire
SK14 1AH
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WAYNE CONNOLLY HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 APRIL 2025
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WAYNE CONNOLLY HOLDINGS LIMITED
REGISTERED NUMBER: 06480383
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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WAYNE CONNOLLY HOLDINGS LIMITED
REGISTERED NUMBER: 06480383
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2025
The notes on pages 18 to 36 form part of these financial statements.
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WAYNE CONNOLLY HOLDINGS LIMITED
REGISTERED NUMBER: 06480383
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 36 form part of these financial statements.
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WAYNE CONNOLLY HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
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WAYNE CONNOLLY HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
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WAYNE CONNOLLY HOLDINGS LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 APRIL 2025
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Wayne Connolly Holdings Limited is a private company limited by shares, registered in the United Kingdom number 06480383. Its registered office is E1-E2 Lyntown Trading Estate, Eccles, Manchester, M30 9QG. During the year the principal activity of the company continued to be that of a holding company for Connolly Scaffolding Limited, who provide scaffolding.
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment 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 Statement of income and retained earnings in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 April 2005.
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
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.
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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.
The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Group's Statement of financial position 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.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Analysis of turnover by country of destination:
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 26
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
There were no factors that may affect future tax charges.
Page 27
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 28
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
11.Tangible fixed assets (continued)
The net book value of assets held under finance lease agreements total £73,483 (2024: £Nil).
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 30
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 31
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
The assets are secured over a fixed and floating charge across the business and against specific fixed
assets.
Page 32
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
The assets are secured over a fixed and floating charge across the business and against specfic fixed
assets.
Page 33
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 34
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 35
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WAYNE CONNOLLY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Profit and loss account
During the year the directors loan account amounted to £545,269, this was made
up of an opening debit balance of £397,831, advances totalling £450,453 credits totalling £3,015 and dividends of £300,000. This is represented within other debtors.
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