Company Registration No. 01949932 (England and Wales)
PROCLAD INDUCTION BENDING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PROCLAD INDUCTION BENDING LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 13
PROCLAD INDUCTION BENDING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
6
1,549,087
1,687,050
Trade and other receivables
8
228,997
-
Current assets
Inventories
7
202,972
256,654
Trade and other receivables
8
506,237
759,041
Cash and cash equivalents
5,356
127,303
714,565
1,142,998
Current liabilities
9
(3,819,039)
(4,042,217)
Net current liabilities
(3,104,474)
(2,899,219)
Total assets less current liabilities
(1,326,390)
(1,212,169)
Non-current liabilities
9
(1,185,060)
(1,340,757)
Net liabilities
(2,511,450)
(2,552,926)
Equity
Called up share capital
15
33,954
33,954
Retained earnings
16
(2,545,404)
(2,586,880)
Total equity
(2,511,450)
(2,552,926)

The directors of the company have elected not to include a copy of the income statement within the financial statements.

The financial statements were approved by the board of directors and authorised for issue on 9 December 2025 and are signed on its behalf by:
Mr M Penman
Director
Company Registration No. 01949932
PROCLAD INDUCTION BENDING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
Share capital
Retained earnings
Total
£
£
£
Balance at 1 December 2022
33,954
(2,318,148)
(2,284,194)
Year ended 30 November 2023:
Loss and total comprehensive expense for the year
-
(268,732)
(268,732)
Balance at 30 November 2023
33,954
(2,586,880)
(2,552,926)
Year ended 30 November 2024:
Profit and total comprehensive expense for the year
-
41,476
41,476
Balance at 30 November 2024
33,954
(2,545,404)
(2,511,450)
PROCLAD INDUCTION BENDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information

Proclad Induction Bending Limited is a private company limited by shares incorporated in England and Wales, domiciled in England. The registered office is C/o United Cast Bar (UK) Limited, Spital Lane, Chesterfield, Derbyshire, S41 0EX. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1
Accounting convention

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention unless otherwise specified in these accounting policies. The material accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. In preparing these financial statements, the company applies the recognition, measurement and disclosure requirements of UK-adopted International Accounting Standards in conformity with the requirements of the Companies Act 2006 and has set out below where advantage of the FRS 101 disclosure exemptions has been taken (where applicable):

- presentation of a statement of cash flows and related notes;

- disclosure of the objectives, policies and processes for managing capital;

- disclosure of key management personnel compensation;

- disclosure of the categories of financial instrument and the nature and extent of risks arising on these financial instruments;

- maturity analysis of lease liabilities;

- certain disclosures required under IFRS 15 Revenue from Contracts with Customers.

- disclosure of the future impact of new International Financial Reporting Standards in issue but not yet effective at the reporting date;

- comparative period reconciliations for the carrying amounts of property, plant and equipment; and

- related party disclosures for transactions with the parent or wholly-owned members of the group.

Where required, equivalent disclosures are given in the group accounts of National Industries Group (Holding) SAK. The group accounts of National Industries Group (Holding) SAK are available to the public and can be obtained as set out in note 18.

The company has adopted amendments to IAS 1 and IFRS Practice Statement 2 requiring that an entity discloses its material accounting policies, instead of its significant accounting policies.

PROCLAD INDUCTION BENDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.2
Going concern

The directors have prepared the financial statements on a going concern basis. In making their assessment the directors have considered the company's financial results in the year being a profit after tax of £41,476, Net Current liabilities of £3,104,474 after excluding intercompany receivables of £228,997 which contributes to an overall Net liability position of £2,511,450 and the pipeline of work. The directors have prepared a detailed cashflow projections out to December 2026 that demonstrate that the company can meet its obligations as they fall due.true

The company's existing working capital facility is a Group Invoice Discounting Facility with a limit of £5m for the company and its fellow subsidiary companies (FTV Proclad UK Limited, Proclad Heat Treatment Limited, FTV Proclad International Limited and IODS Pipe Clad Limited). The Invoice Discounting Facility matures in July 2026 and whilst the directors are confident the company will be able to refinance the facility; there is no guarantee at the time of approving the financial statements that a refinance on similar facility terms and limits will be secured. On this basis the Directors have prepared cash flow projections that assume the run-down of the facility in July 2026. These projections demonstrate that the company and its fellow subsidiaries can meet their obligations as they fall due from existing cash reserves by operating a group cash pooling treasury management system.

These projections are considered to be a worst case scenario as it is the Directors intention to operate with a finance facility in place and there are potential cash flow upsides that are not incorporated into the projections. It is the Director's view that the primary risk associated with the cash flow projections is the delay in timing of secured work being completed due to supply chain or customer delays. The Directors are confident that the close working relationships they have fostered with the supply chain and key customers mitigates this risk to an acceptably low level and whilst acknowledging it cannot be eliminated the directors believe they have levers available to them to mitigate this risk.
As of 30 November 2024, the Company had net liabilities of £2,511,450. The Company had balances of £2,292,946 due to intercompany counterparties which are contractually repayable on demand. the intercompany counterparties have signed a written confirmation that they will waive their contractual right to recall the balances for a period of 12 months from date of approval of these financial statements to support the Company’s ability to continue as a going concern. As there are no other balances due in the going concern period, the directors consider it appropriate to prepare the financial statements on a going concern basis.

On this basis, the directors are of the opinion that the company can meet its obligations as they fall due and have prepared the financial statements on a going concern basis.

1.3
Revenue

Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The company recognises revenue line with the contract with the customer at the point when goods are delivered or when goods are dispatched as this is the company's only performance obligation under the contracts.

Certain contracts are made up of multiple items and revenue is therefore recognised as each line item is delivered or dispatched in line with the purchase order received from the customer as they have stand alone parts, quantities, sizes and prices.

Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

PROCLAD INDUCTION BENDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

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

Right of use property
Over the period of the lease
Fixtures and fittings
From 3 to 15 years
Plant and equipment
From 3 to 10 years
Computers
From 3 to 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

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.

1.5
Impairment of non-financial asstes

At each reporting end date, the company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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

1.6
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

Cost is applied in line with the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised through profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

PROCLAD INDUCTION BENDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.8
Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.

The company only holds financial assets at amortised cost.

Financial assets held at amortised cost

Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

The impairment model is based on the premise of providing for expected losses. Expected credit losses are measured through a lifetime expected loss allowance for all trade receivables and contract assets.

To measure the expected credit losses, trade receivables and contract assets are grouped based on shared credit risk characteristics and the days past due. The company has concluded that the expected loss rates for trade receivables are a reasonable approximation of the loss rates.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

1.9
Financial liabilities

The company recogni s es financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

The company has no 'financial liabilities at fair value through profit or loss' at the reporting date.

Creditors and borrowings

Other financial liabilities, including borrowings, t rade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

PROCLAD INDUCTION BENDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.11
Taxation

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

1.12
Employee benefits

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

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

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

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separate from the company in independently administrated funds.

1.14
Leases

The company recognises assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value.

L ease liabilit ies are initially measured at the present value of the contractual payments due to the lessor over the lease term, with the discount rate determined by reference to the company's incremental borrowing rate on commencement of the lease is used.

The right-of-use asset is initially measured at the amount of the lease liability, reduced for any lease incentives received, and increased for:

- Lease payments made at or before commencement of the lease;

- Initial direct costs incurred; and

- The amount of any provision recognised where the company is contractually required to dismantle, remove or restore the leased asset.

Subsequent to initial measurement, lease liabilities increase as a result of interest charged at a constant rate on the balance outstanding and are reduced for lease payments made. Right-of-use assets are amortised on a straight-line basis over the remaining term of the lease or over the remaining economic life of the asset if, rarely, this is judged to be shorter than the lease term. The interest charged and the amortisation are recognised within the consolidated statement of comprehensive loss.

1.15

Research and development tax credits

R&D tax credits are recognised in accordance with FRS 101 and are treated as either a corporation tax reduction or a tax credit. They are disclosed as other operating income in the financial statements.

1.16

Finance costs

Finance costs are charged to profit and loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

PROCLAD INDUCTION BENDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 8 -
2
Critical accounting estimates and judgements

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

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

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Key sources of estimation uncertainty
Deferred tax asset

The extent to which deferred tax assets can be recognised is based on an assessment of the probability that future taxable income will be available against which the underlying tax losses or deductible temporary differences can be utilised. Based on an assessment of future market and trading conditions and the effects of such, management judge that there will be sufficient profits to recognise the deferred tax amount shown in note 13.

3
Employees

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

2024
2023
Number
Number
Production
11
13
Administration
9
5
Total
20
18
4
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
24,037
26,132
Company pension contributions to defined contribution schemes
6,172
4,647
30,209
30,779

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

5
Taxation
PROCLAD INDUCTION BENDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
(Continued)
- 9 -

The charge for the year can be reconciled to the profit/(loss) per the income statement as follows:

2024
2023
£
£
Profit/(loss) before taxation
41,476
(268,732)
Expected tax charge/(credit) based on a corporation tax rate of 25.00% (2023: 23.00%)
10,369
(61,808)
Effect of expenses not deductible in determining taxable profit
(30,113)
(30,354)
Income not taxable
-
0
(45,356)
Unutilised tax losses carried forward
-
0
701,220
Adjustment in respect of prior years
-
0
(627,166)
Effect of change in UK corporation tax rate
-
0
(5,924)
Group relief
19,992
36,182
Depreciation on assets not qualifying for tax allowances
32,218
33,206
Other timing differences
(32,466)
-
Taxation charge for the year
-
-

The company has unrecognised deferred tax assets of approximately £516,291 (2023 - £701,220) in respect of trading losses and other timing differences. The deferred tax asset has been restricted due to the uncertainty of when the losses will be utilised.

A change in the UK Corporation tax rate to 25% took effect from 1 April 2023. This change has had a consequential effect on the company's tax charge with the standard rate of tax in the prior year reflective of a marginal tax rate arising from the company's period straddling the 19% and 25% tax rates. Deferred tax has been calculated at 25%.

PROCLAD INDUCTION BENDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 10 -
6
Property, plant and equipment
Right of use property
Fixtures and fittings
Plant and equipment
Computers
Total
£
£
£
£
£
Cost
At 30 November 2023
1,647,540
101,862
1,695,352
72,484
3,517,238
Additions
-
0
-
0
10,159
-
0
10,159
At 30 November 2024
1,647,540
101,862
1,705,511
72,484
3,527,397
Accumulated depreciation and impairment
At 30 November 2023
126,702
101,862
1,535,709
65,915
1,830,188
Charge for the year
128,988
-
0
16,581
2,553
148,122
At 30 November 2024
255,690
101,862
1,552,290
68,468
1,978,310
Carrying amount
At 30 November 2024
1,391,850
-
0
153,221
4,016
1,549,087
At 30 November 2023
1,520,838
-
0
159,643
6,569
1,687,050
7
Inventories
2024
2023
£
£
Work in progress
202,972
256,654
8
Trade and other receivables
Current
Non-current
2024
2023
2024
2023
£
£
£
£
Trade receivables
205,111
357,912
-
-
Amounts owed by fellow group undertakings
-
0
-
0
228,997
-
0
Other receivables
267,862
370,631
-
-
Prepayments
33,264
30,498
-
-
506,237
759,041
228,997
-

PROCLAD INDUCTION BENDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 11 -
9
Liabilities
Current
Non-current
2024
2023
2024
2023
Notes
£
£
£
£
Borrowings
10
47,370
291,225
-
0
-
0
Trade and other payables
11
3,573,793
3,561,289
-
0
-
0
Taxation and social security
33,567
58,281
-
0
-
0
Lease liabilities
12
164,309
131,422
1,185,060
1,340,757
3,819,039
4,042,217
1,185,060
1,340,757
10
Borrowings
2024
2023
£
£
Borrowings held at amortised cost:
Invoice finance facilities
47,370
291,225
47,370
291,225

The amounts due on invoice financing are secured by a floating charge over the assets of this and other group undertakings within the UK. The invoice financing balance is secured against trade debtors.

11
Trade and other payables
2024
2023
£
£
Trade payables
186,462
163,105
Amounts owed to fellow group undertakings
3,292,946
3,143,130
Accruals
60,942
215,077
Other payables
33,443
39,977
3,573,793
3,561,289

Amounts owed to group undertakings are interest free, unsecured and repayable on demand.

PROCLAD INDUCTION BENDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 12 -
12
Lease liabilities

Lease liabilities are classified based on the amounts that are expected to be settled within the next 12 months and after more than 12 months from the reporting date, as follows:

2024
2023
£
£
Current liabilities
164,309
131,422
Non-current liabilities
1,185,060
1,340,757
1,349,369
1,472,179
2024
2023
Amounts recognised in profit or loss include the following:
£
£
Interest on lease liabilities
3,537
7,821

All lease liabilities are in respect of right of use asset lease liabilities for property rented.

The total cash outflow from leases in the year was £135,000 (2023 - £152,045).

13
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.

Fixed asset timing differences
Tax losses
Total
£
£
£
Deferred tax asset at 1 December 2022
5,711
(5,711)
-
0
Deferred tax movements in prior year
Charge/(credit) to profit or loss
(5,711)
5,711
-
0
Deferred tax liability at 1 December 2023 and 30 November 2024
-
0
-
0
-
0
PROCLAD INDUCTION BENDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 13 -
14
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
40,826
29,023

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

15
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
33,954
33,954
33,954
33,954

All shares rank pari passu for dividend rights and provide the holder with one vote.

16
Retained earnings

Retained earnings represents cumulative profits and losses, less any dividends paid.

17
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was James Hamilton and the auditor was Johnston Carmichael LLP.
18
Controlling party

The immediate parent undertaking is Scotar Group Limited. The ultimate parent undertaking and controlling party is National Industries Group (Holding) SAK. This company is registered in Kuwait and copies of the financial statements which include the results of the company are available from PO Box, 13005 Safat, Kuwait.

2024-11-30 2023-12-01 Mr Y Mosheen Mr M Penman Mr D Arbon Mr J Wilson false false CCH Software iXBRL Review & Tag 2025.2 2025-12-10 The accounts have been prepared in accordance with the provisions of the small companies regime No description of principal activity 2025-12-10 01949932 2023-12-01 2024-11-30 01949932 2024-11-30 01949932 core:ContinuingOperations 2024-11-30 01949932 2023-11-30 01949932 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-11-30 01949932 core:FurnitureFittings 2024-11-30 01949932 core:PlantMachinery 2024-11-30 01949932 core:ComputerEquipment 2024-11-30 01949932 core:LandBuildings core:LeasedAssetsHeldAsLessee 2023-11-30 01949932 core:FurnitureFittings 2023-11-30 01949932 core:PlantMachinery 2023-11-30 01949932 core:ComputerEquipment 2023-11-30 01949932 core:ShareCapital 2024-11-30 01949932 core:ShareCapital 2023-11-30 01949932 core:RetainedEarningsAccumulatedLosses 2024-11-30 01949932 core:RetainedEarningsAccumulatedLosses 2023-11-30 01949932 2022-11-30 01949932 bus:Director2 2023-12-01 2024-11-30 01949932 core:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 01949932 core:RetainedEarningsAccumulatedLosses 2023-12-01 2024-11-30 01949932 2022-12-01 2023-11-30 01949932 core:LandBuildings core:LeasedAssetsHeldAsLessee 2023-11-30 01949932 core:FurnitureFittings 2023-11-30 01949932 core:PlantMachinery 2023-11-30 01949932 core:ComputerEquipment 2023-11-30 01949932 2023-11-30 01949932 core:LandBuildings core:LeasedAssetsHeldAsLessee 2023-12-01 2024-11-30 01949932 core:FurnitureFittings 2023-12-01 2024-11-30 01949932 core:PlantMachinery 2023-12-01 2024-11-30 01949932 core:ComputerEquipment 2023-12-01 2024-11-30 01949932 core:CurrentFinancialInstruments 2024-11-30 01949932 core:CurrentFinancialInstruments 2023-11-30 01949932 core:Non-currentFinancialInstruments 2024-11-30 01949932 core:Non-currentFinancialInstruments 2023-11-30 01949932 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 01949932 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 01949932 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 01949932 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 01949932 core:AcceleratedTaxDepreciationDeferredTax 2022-11-30 01949932 core:TaxLossesCarry-forwardsDeferredTax 2022-11-30 01949932 core:AcceleratedTaxDepreciationDeferredTax 2024-11-30 01949932 core:TaxLossesCarry-forwardsDeferredTax 2024-11-30 01949932 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 01949932 bus:FRS101 2023-12-01 2024-11-30 01949932 bus:Audited 2023-12-01 2024-11-30 01949932 bus:Director1 2023-12-01 2024-11-30 01949932 bus:Director3 2023-12-01 2024-11-30 01949932 bus:Director4 2023-12-01 2024-11-30 01949932 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 01949932 bus:FullAccounts 2023-12-01 2024-11-30 xbrli:pure xbrli:shares iso4217:GBP