Company Registration No. 02042982 (England and Wales)
Leeds Plywood & Doors Limited
Annual Report And Financial Statements
For The Year Ended 30 September 2020
LEEDS PLYWOOD & DOORS LIMITED
COMPANY INFORMATION
Directors
Mr G Bell
Miss H C Gordon
Mr A R Watson
Miss L J Gordon
Mr S D Gordon
Secretary
Ms L Curtis
Company number
02042982
Registered office
Midland Road
Leeds
LS10 2RJ
Auditor
Garbutt & Elliott Audit Limited
33 Park Place
Leeds
LS1 2RY
LEEDS PLYWOOD & DOORS LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 6
Directors' responsibilities statement
7
Independent auditor's report
8 - 9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Notes to the financial statements
13 - 28
LEEDS PLYWOOD & DOORS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 1 -
The directors present the strategic report for the year ended 30 September 2020.
Fair review of the business
The directors are pleased with the performance of the group during the year and are confident that the upward trend in activity will continue for the foreseeable future. However, while the directors are confident that the turnover levels will continue to rise in future years, the 2020 performance has obviously been subject to the effects of the coronavirus.
It should be noted that after the temporary dip in 2019, in 2020 gross margin returned to more normal historic levels, which in turn has resulted in improved profitability.
Coronavirus
The directors have considered the impact that the coronavirus pandemic might have on the business and at the time of approving these financial statements do not believe there will be a material effect on the going concern of the group.
The directors have been encouraged by sales during the pandemic. It is therefore anticipated that turnover will return to pre-virus levels within a reasonable time frame.
Management reviewed the available funding sources and arranged additional support from HSBC and certain Government schemes where appropriate. As a result the directors are satisfied with the current cash position.
Management have applied reasonable sensitivities to their projections. This shows that they expect to manage within the current level of facilities, along with other potential working capital management as required.
Principal risks and uncertainties
The key business risks and uncertainties affecting the
company
are considered to relate to competition and market forces within the doors and furniture market.
The
company
continues to actively review the market conditions to ascertain any effect on sales. Foreign currency exchange rates are monitored on a regular basis to enable the business to make informed decisions on currency requirements. The business has a credit insurance policy to limit the risks of bad debts, but it is exposed to the usual credit and cashflow risk associated with selling on credit and manages this through credit control procedures. Aside from an exposure to foreign currency fluctuations, the nature of the
group's
financial instruments means that they are not subject to a price or liquidity risk.
Development and performance
The directors are satisfied with the position of the
company
at the year end.
Trading within the doors and furniture sector requires the
company
to continually develop its offering and ensure it remains at the forefront of design and trends in the product offering. The
company
continues to invest in marketing and technology with the aim of further growth.
The cash position remains satisfactory and stock levels are continually monitored to balance reasonable stock turn with the ability to better service customer needs.
LEEDS PLYWOOD & DOORS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 2 -
Promoting the success of the company
In accordance with section 172 of the Companies Act 2006 each of our directors acts in a way that he or she considers, in good faith, would most likely promote the success of the
company
for the benefit of its members as a whole.
The Directors are aware of how important building and maintaining successful relationship with stakeholders are to the business; be it employees, customers, suppliers and the wider community.
In making decisions, the Directors take account not only of the short term requirements of the business, but also of the longer term impact on these stakeholders.
Employees – the
company
views pay and benefits as just one element of the needs of staff and is highly aware of the need to look after the security and welfare of its staff. Training and development are considered where support is required or career paths identify promotional opportunities.
Customers - Engagement with our customers is essential, this is achieved though feedback, social media activity and promotional information. Providing our customers with the products and services they require at right time is imperative to building and maintaining our relationship. At this time, keeping customers and the community up to date with our Covid-19 safety policies is also paramount.
Suppliers – Maintaining good relationship with suppliers over the longer term contributes to the success of the business and the promotion of brand loyalty. Allowing local business the opportunity to be represented on site also benefits our customers, suppliers and the wider community.
High standards of business conduct
Recognising the important role that our trading partners and customers play, and developing trusted, long-term relationships is an integral part of our business. We are proud to have many customers that have been with us from the start.
Our environmental policy
LPD takes its responsibilities very seriously, striving to make a positive contribution to minimise the impact of its activities on the environment. We are fully committed to upholding the principles of Chain of Custody, aligning ourselves with manufacturers who source their materials from well managed forests. LPD are wholly committed to the following:
-
To meet or exceed all the environmental legislation that relates to the Company's activities.
-
Wherever and whenever economically practicable, endeavour to use environmentally safe materials.
-
Where feasible, strive towards the continual reduction of all waste streams, to air, water and land.
-
Wherever commercially viable, recycle and reuse any materials that would otherwise go to landfill.
-
To regularly monitor energy usage in order to reduce overall consumption.
-
To communicate the policy internally and place it in the public domain.
-
To establish and regularly review all environmental objectives in respect of this policy.
Being a major force in the timber related industry, we are fully committed to upholding the principles of FSC®, and aligning ourselves with manufacturers who source their materials from well managed forests. We are proud to say that an ever-increasing number of our products are FSC® certified, and as we move forward, this will become more prevalent.
Where items are not currently sourced as FSC® we ensure full due diligence is completed on our supply chain by a third-party partner. We also have full procedures in place to ensure our compliance to the European Union Timber Regulation rules.
LEEDS PLYWOOD & DOORS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 3 -
Social, community and human rights issues
The
company
has a zero tolerance approach to any form of modern slavery. We are committed to acting ethically and with integrity and transparency in all business dealings and implementing effective systems and controls to safeguard against any form of modern slavery taking place within the business or our supply chain. A more comprehensive statement can be found on our website.
Policy on the payment of creditors
The
company
agrees terms and conditions which include payment details with its suppliers. Payment is made in accordance with those terms and conditions, provided the supplier had complied with them.
Results
Turnover for the year was £48.2m (2019 - £47.7m) and Operating Profit was £
3.9
m
(2019 - £1.
6
m).
The
group's
key performance indicators during the year were as follows:
2020 2019
Turnover
£48.2m
£47.7m
Gross Profit margin 28% 22%
Profit before tax
£3.
7
m £1.
3
m
Mr S D Gordon
Director
Date: .........................................
LEEDS PLYWOOD & DOORS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 4 -
The directors present their annual report and financial statements for the year ended 30 September 2020.
Principal activities
The principal activity of the company continue
s
to be th
e
import and distribut
ion
o
f quality doors and furniture.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr G Bell
Miss H C Gordon
Mr J D Gordon (Dec'd)
(Deceased 13 November 2020)
Mr A R Watson
Miss L J Gordon
Mr S D Gordon
Results and dividends
The results for the year are set out on page 10.
An interim ordinary dividend was paid amounting to
£315,000 (2019 - £
3
00,000).
The directors do not recommend payment of a final dividend.
Auditor
The auditor, Garbutt & Elliott Audit Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor
of the
company is
unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor
of the
company
is
aware of that information.
Going concern
During the year, COVID-19 has resulted in a pandemic affecting economies globally. The speed and severity of the impact has been unprecedented but many Governments, including within the UK, have introduced considerable measures to help businesses through this extremely challenging time. At the time of approval of these accounts, the full effect of the pandemic is uncertain, but, as noted in note 1.2, the directors consider that the
group
remains a going concern
.
Employee engagement
The group views pay and benefits as just one element of the needs of staff and is highly aware of the need to look after the security and welfare of its staff. Training and development are considered where support is requried or career paths identify promotional opportunities.
LEEDS PLYWOOD & DOORS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 5 -
Energy and carbon report
This report is in compliance with The Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018 (“the 2018 Regulations”) implementing the government’s policy on Streamlined Energy and Carbon Reporting (SECR) that came into force on 1 April 2019.
The regulation sets out the obligation to report our UK energy use and associated greenhouse gas emissions relating to gas, electricity and transport fuel, as well as an intensity ratio and information relating to energy efficiency action within our business.
Previous year’s figures
This is the first year that the group has met the threshold for this regulation so the year ended 30th September 2020 will be used as our base line year for all future disclosures.
The group has been at the forefront of manufacturing, importing and distributing internal and external doors for over 35 years. Operating a fleet of delivery vehicles from our base in Leeds the boundary of our disclosures has been set as those emissions within our financial control. These include the heating and running of our offices and warehouses, the operation of our fleet of lorries and cars.
Data Collection and methodology
The following data was presented to our external environmental consultants who assessed the data for completeness and accuracy, prepared the summary of emissions based on actuals and estimates for this base line report from.
During the year to 30th September 2020, the unprecedented impact of Covid 19 produced anomalies in fuel use and electricity consumption. In order to normalise these impacts for our base line report, monthly average figures have been used for months where variance to a typical monthly value was identified.
Fuel purchases (£) were converted to litres of diesel using Gov.UK statistical data sets 2021 average price for fuel and multiplied by 2.54603 to produce kg Co2e figures. Electricity (kWh) and gas (litres) were multiplied by 0.23314 and 0.18387 respectfully to derive the total emissions for LPD. The multipliers have been taken from the UK Government GHG Conversion Factors for Company Reporting 2020.
Intensity ratios
The primary intensity ratio of total Co2e per £100,000 turnover has been used for the base line year. This figure is £3,753kg Co2e,
Energy efficiency action taken
The Board of Directors have established under our overall Environmental improvement programme numerous work plans for the year ahead, they include, but are not limited to the following;
-
Conducting internal audits of our facilities and electrical appliances ahead of an energy reduction plan
-
Conducting a fleet assessment to assess the performance of the existing fleet and identification of short-, medium- and long-term improvements
-
Review of purchased fuel and energy to identify the opportunities for alternative sources of fuel and energy
Findings will enable the Board of Directors to set forward-looking science-based emission reduction targets.
LEEDS PLYWOOD & DOORS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 6 -
On behalf of the board
Mr S D Gordon
Director
6 April 2021
LEEDS PLYWOOD & DOORS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 7 -
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
-
select suitable accounting policies 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 company 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
LEEDS PLYWOOD & DOORS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LEEDS PLYWOOD & DOORS LIMITED
- 8 -
Opinion
We have audited the financial statements of Leeds Plywood & Doors Limited (the 'company') for the year ended 30 September 2020 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including a summary of significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the company's affairs as at 30 September 2020 and of its profit for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the
Auditor's
responsibilities for the audit of the financial statements
section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard
, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
-
the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
-
the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue
.
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the
financial statements
does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit
:
-
the information given in the strategic report and the directors' r
eport for the financial year for which the financial statements are prepared is consistent with the financial statements
; and
-
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
LEEDS PLYWOOD & DOORS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LEEDS PLYWOOD & DOORS LIMITED
- 9 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie
d
material misstatements in the strategic report and the directors'
r
eport
.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of directors' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors'
r
esponsibilities
s
tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company
'
s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities
.
This description forms part of our auditor’s report.
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Chris Butt (Senior Statutory Auditor)
for and on behalf of Garbutt & Elliott Audit Limited
6 April 2021
Chartered Accountants
Statutory Auditor
33 Park Place
Leeds
LS1 2RY
LEEDS PLYWOOD & DOORS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 10 -
2020
2019
Notes
£
£
Turnover
3
48,251,806
47,691,368
Cost of sales
(34,666,212)
(37,142,052)
Gross profit
13,585,594
10,549,316
Administrative expenses
(10,029,478)
(8,944,987)
Other operating income
3
363,629
-
Operating profit
4
3,919,745
1,604,329
Interest receivable and similar income
6
14,950
9,315
Interest payable and similar expenses
7
(194,336)
(274,293)
Amounts written off investments
8
(69,200)
(74,092)
Profit before taxation
3,671,159
1,265,259
Tax on profit
9
(743,004)
(275,453)
Profit and total comprehensive income for the year
2,928,155
989,806
LEEDS PLYWOOD & DOORS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2020
30 September 2020
- 11 -
2020
2019
Notes
£
£
£
£
Fixed assets
Intangible assets
11
11,742
39,924
Tangible assets
12
1,593,884
1,639,789
Investments
13
42,102
111,302
1,647,728
1,791,015
Current assets
Stocks
14
9,882,790
12,984,534
Debtors
15
9,490,645
9,690,306
Cash at bank and in hand
8,808,872
380,827
28,182,307
23,055,667
Creditors: amounts falling due within one year
18
(13,553,652)
(11,203,739)
Net current assets
14,628,655
11,851,928
Total assets less current liabilities
16,276,383
13,642,943
Creditors: amounts falling due after more than one year
19
(557,126)
(560,841)
Provisions for liabilities
20
(120,000)
(96,000)
Net assets
15,599,257
12,986,102
Capital and reserves
Called up share capital
23
25,000
25,000
Profit and loss reserves
15,574,257
12,961,102
Total equity
15,599,257
12,986,102
The financial statements were approved by the board of directors and authorised for issue on 6 April 2021 and are signed on its behalf by:
Mr S D Gordon
Director
Company Registration No. 02042982
LEEDS PLYWOOD & DOORS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2018
25,000
12,271,296
12,296,296
Year ended 30 September 2019:
Profit and total comprehensive income for the year
-
989,806
989,806
Dividends
10
-
(300,000)
(300,000)
Balance at 30 September 2019
25,000
12,961,102
12,986,102
Year ended 30 September 2020:
Profit and total comprehensive income for the year
-
2,928,155
2,928,155
Dividends
10
-
(315,000)
(315,000)
Balance at 30 September 2020
25,000
15,574,257
15,599,257
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 13 -
1
Accounting policies
Company information
Leeds Plywood & Doors Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Midland Road, Leeds, LS10 2RJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £
1
.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
On the grounds that the company's results are consolidated into its parent, as disclosed in note 27, the company has taken advantage of certain exemptions conferred by section 1.11 of FRS 102 as follows:
-
Exemption from presenting a statement of cash flows as a primary note to the financial statements;
-
Exemption from disclosing details of its financial instruments;
-
Exemption from disclosing key management personnel remuneration.
The company has taken advantage of the disclosure exemptions of Section 33.1A of FRS 102 which permit it to not present details of its transactions with members of the group headed by LPD (Holdings) Limited where relevant group companies are all wholly owned.
The ultimate parent company is LPD (Holdings) Limited which is the smallest and largest group into which these financial statements are consolidated. LPD (Holdings) Limited's registered office is Midland Road, Leeds, LS10 2RJ.
1.2
Going concern
During the year the COVID-19 virus was declared a pandemic and the impact on the global economy has been unprecedented in both its speed and severity. The Directors have continued to prepare the financial statements on the going concern basis of accounting in preparing the financial statements. They believe the company has continued to perform significantly well and generate growth. The company has significant external finance and the Directors believe on balance that the company has sufficient funds to make repayments and enable trading to continue for a period of at least 12 months from the date of approval of the financial statements.
true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for
the sale of doors and furniture
provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of
doors and furniture
is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Intangible fixed assets other than goodwill
Intangible assets
represents software
separately
acquired.
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
1
Accounting policies
(Continued)
- 14 -
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bas
i
s:
Software
25% straight line
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings and equipment
20% straight line
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.6
Fixed asset investments
Fixed asset investments represent capitalised costs for the purchase of racehorses. The cost of racehorses is released to profit and loss on a straight line basis over 4 years, being the estimated period each horse remains in training.
1.7
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset
in
prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.8
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
1
Accounting policies
(Continued)
- 15 -
1.9
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those
held
at
fair value through profit and loss
, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when
the company
transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
1
Accounting policies
(Continued)
- 16 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans
and
loans from
fellow group companies, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts,
are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are
s
ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations
expire or are discharged or cancelled.
1.11
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.12
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
1
Accounting policies
(Continued)
- 17 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.13
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.14
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.15
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.16
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
1
Accounting policies
(Continued)
- 18 -
1.17
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are
as follows.
Depreciation and amortisation
The depreciation and amortisation policies have been set according to management's experience of the useful lives of a typical asset in each category, something which is reviewed annually. It is not considered practical to use a per unit basis to allocate depreciation without undue cost and therefore amounts are charged annually. The depreciation and amortisation charged during the year was £735,585 (2019 - £626,350) which the directors feel is a fair reflection of the benefits derived from the consumption of the tangible fixed assets in use during the period.
Stock provision
Inventories are valued at the lower cost and net realisable value. Net realisable value includes, where necessary, provisions for slow moving and obsolete stocks. Calculation of these provisions requires judgements to be made, which include forecast consumer demand, the promotional, competitive and economic environment and inventory loss trends.
Bad debt provision
Outstanding trade debtor balances are reviewed on a line by line basis by management to identify possible amounts where a provision is required. Management closely manage the collection of trade debtors and therefore are able to identify balances where there is uncertainty about its recoverability, and determine what provision is required (if any).
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 19 -
3
Turnover and other revenue
An analysis of the company's turnover is as follows:
2020
2019
£
£
Turnover analysed by class of business
Door sales
38,133,462
39,255,943
Furniture sales
8,528,516
7,072,370
Home delivery
1,589,828
1,363,055
48,251,806
47,691,368
2020
2019
£
£
Turnover analysed by geographical market
United Kingdom
47,925,602
47,359,619
Europe
203,959
217,398
Rest of the world
122,245
114,351
48,251,806
47,691,368
2020
2019
£
£
Other revenue
Interest income
14,941
9,301
Dividends received
9
14
Grants received
363,629
-
4
Operating profit
2020
2019
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange differences apart from those arising on financial instruments measured at fair value through profit or loss
-
(34,803)
Government grants
(363,629)
-
Fees payable to the company's auditor for the audit of the company's financial statements
28,750
25,500
Depreciation of owned tangible fixed assets
106,760
118,445
Depreciation of tangible fixed assets held under finance leases
600,643
479,721
Profit on disposal of tangible fixed assets
(29,049)
(22,406)
Amortisation of intangible assets
28,182
28,184
Operating lease charges
1,024,037
1,016,922
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 20 -
5
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Directors
6
6
Management and administration
50
43
Warehouse and distribution
119
97
Total
175
146
Their aggregate remuneration comprised:
2020
2019
£
£
Wages and salaries
4,681,459
4,407,567
Social security costs
419,247
416,311
Pension costs
265,828
225,442
5,366,534
5,049,320
6
Interest receivable and similar income
2020
2019
£
£
Interest income
Other interest income
14,941
9,301
Other income from investments
Dividends received
9
14
Total income
14,950
9,315
7
Interest payable and similar expenses
2020
2019
£
£
Interest on bank overdrafts and loans
163,826
190,038
Interest on finance leases and hire purchase contracts
30,510
30,259
Present value adjustment on debtor loans
-
53,996
194,336
274,293
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 21 -
8
Amounts written off investments
2020
2019
£
£
Loss on disposal of fixed asset investments
(11,875)
-
Amounts written off investments
(57,325)
(74,092)
(69,200)
(74,092)
9
Taxation
2020
2019
£
£
Current tax
UK corporation tax on profits for the current period
720,000
213,054
Adjustments in respect of prior periods
(996)
(11,601)
Total current tax
719,004
201,453
Deferred tax
Origination and reversal of timing differences
24,000
74,000
Total tax charge
743,004
275,453
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2020
2019
£
£
Profit before taxation
3,671,159
1,265,259
Expected tax charge based on the standard rate of corporation tax in the UK of 19.00% (2019: 19.00%)
697,520
240,399
Tax effect of expenses that are not deductible in determining taxable profit
41,310
43,329
Under/(over) provided in prior years
(996)
(11,601)
Other tax adjustments
5,170
3,326
Taxation charge for the year
743,004
275,453
10
Dividends
2020
2019
£
£
Interim paid
315,000
300,000
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 22 -
11
Intangible fixed assets
Software
£
Cost
At 1 October 2019 and 30 September 2020
112,729
Amortisation and impairment
At 1 October 2019
72,805
Amortisation charged for the year
28,182
At 30 September 2020
100,987
Carrying amount
At 30 September 2020
11,742
At 30 September 2019
39,924
12
Tangible fixed assets
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 October 2019
712,413
3,051,436
3,763,849
Additions
40,847
657,519
698,366
Disposals
-
(303,400)
(303,400)
At 30 September 2020
753,260
3,405,555
4,158,815
Depreciation and impairment
At 1 October 2019
502,135
1,621,925
2,124,060
Depreciation charged in the year
70,661
636,742
707,403
Eliminated in respect of disposals
-
(266,532)
(266,532)
At 30 September 2020
572,796
1,992,135
2,564,931
Carrying amount
At 30 September 2020
180,464
1,413,420
1,593,884
At 30 September 2019
210,278
1,429,511
1,639,789
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
12
Tangible fixed assets
(Continued)
- 23 -
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
2020
2019
£
£
Fixtures, fittings and equipment
43,684
63,094
Motor vehicles
1,351,070
1,273,090
1,394,754
1,336,184
The depreciation charge for the year
in respect of assets held under finance leases or hire purchase contracts
was £600,643 (2019 - £479,721)
.
£19,409 (2019 - £12,544) relates to fixtures, fittings and equipment and £581,234 (2019 - £467,177) relates to motor vehicles.
13
Fixed asset investments
2020
2019
£
£
Unlisted investments
42,102
111,302
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 October 2019
111,302
Valuation changes
(57,325)
Disposals
(11,875)
At 30 September 2020
42,102
Carrying amount
At 30 September 2020
42,102
At 30 September 2019
111,302
14
Stocks
2020
2019
£
£
Finished goods and goods for resale
9,882,790
12,984,534
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 24 -
15
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
7,032,660
7,186,429
Corporation tax recoverable
345,187
66,142
Amounts owed by group undertakings
187,804
453,864
Other debtors
799,295
566,073
Prepayments and accrued income
877,221
991,570
9,242,167
9,264,078
2020
2019
Amounts falling due after more than one year:
£
£
Other debtors
248,478
426,228
Total debtors
9,490,645
9,690,306
16
Loans and overdrafts
2020
2019
£
£
Bank overdrafts
6,986,718
7,336,675
Payable within one year
6,986,718
7,336,675
Other bank borrowings represent debt factoring and trade finance facilities which are secured by fixed and floating charges over the assets of the company.
17
Finance lease obligations
2020
2019
Future minimum lease payments due under finance leases:
£
£
Within one year
608,201
528,546
In two to five years
600,231
565,819
1,208,432
1,094,365
Less: future finance charges
(43,105)
(15,009)
1,165,327
1,079,356
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
17
Finance lease obligations
(Continued)
- 25 -
Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
Finance lease liabilities are secured against the assets to which they relate.
18
Creditors: amounts falling due within one year
2020
2019
Notes
£
£
Bank loans and overdrafts
16
6,986,718
7,336,675
Obligations under finance leases
17
608,201
518,515
Trade creditors
2,244,132
1,394,152
Corporation tax
907,562
-
Other taxation and social security
2,229,856
1,230,168
Other creditors
90,511
261,514
Accruals and deferred income
486,672
462,715
13,553,652
11,203,739
Obligations under finance leases are secured as detailed in note 17.
Other bank borrowings are secured as detailed in note 16.
19
Creditors: amounts falling due after more than one year
2020
2019
Notes
£
£
Obligations under finance leases
17
557,126
560,841
Obligations under finance leases are secured as detailed in note 17.
20
Provisions for liabilities
2020
2019
Notes
£
£
Deferred tax liabilities
21
120,000
96,000
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 26 -
21
Deferred taxation
Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
Liabilities
Liabilities
2020
2019
Balances:
£
£
Accelerated capital allowances
120,000
96,000
2020
Movements in the year:
£
Liability at 1 October 2019
96,000
Charge to profit or loss
24,000
Liability at 30 September 2020
120,000
The deferred tax liability set out above is expected to reverse within 5 years and relates to accelerated capital allowances that are expected to mature within the same period.
22
Retirement benefit schemes
2020
2019
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
265,828
225,442
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.
23
Share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
25,000 Ordinary Shares of £1 each
25,000
25,000
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 27 -
24
Financial commitments, guarantees and contingent liabilities
The company is party to a group guarantee over any bank loans and overdrafts which may from time to time arise. At the year end, bank loans and overdrafts of relevant group companies totalled £1,857,931 (2019 - £2,239,587) net of cash balances.
As at the date of approval of the financial statements, no default has occurred which would trigger the above liability, nor is one anticipated. As such, the directors consider that the fair value of this obligation is £nil, and as such there is no recognition of the liability on the balance sheet.
At the balance sheet date the company was committed to buy $3,470,000 and €600,000 (2019 - $1,053,156) under forward foreign exchange contracts.
25
Operating lease commitments
Lessee
Operating lease payments represent rentals payable by the company for certain of its properties and assets. Leases are negotiated for an average term of 3 years and rentals are fixed.
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2020
2019
£
£
Within one year
200,983
161,070
Between two and five years
242,230
126,637
In over five years
31,543
-
474,756
287,707
26
Directors' transactions
Dividends totalling £315,000 (2019 - £300,000) were paid in the year in respect of shares held by the company's directors.
L
oans have been granted by the
group
to its directors as
below. The balance is included within debtors; amounts falling due within one year: other debtors.
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Mr J Gordon
2.50
313,767
645,183
13,146
(425,804)
546,292
Miss H Gordon
-
3,925
3,197
-
(483)
6,639
Mr G Bell
-
6,000
-
-
-
6,000
Mr A Watson
-
5,268
984
-
(6,304)
(52)
Mr S Gordon
2.50
23,988
28,751
873
(5,982)
47,630
Miss L Gordon
2.50
10,735
4,825
309
(667)
15,202
363,683
682,940
14,328
(439,240)
621,711
LEEDS PLYWOOD & DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 28 -
27
Ultimate controlling party
The ultimate parent company and controlling party is LPD (Holdings) Limited, a company registered in England and Wales with registered office Midland Road, Leeds, LS10 2RJ. LPD (Holdings) Limited is the smallest and largest group into which the company is consolidated.
28
Directors' remuneration
2020
2019
£
£
Remuneration for qualifying services
525,905
774,861
Company pension contributions to defined contribution schemes
125,332
145,063
651,237
919,924
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to
5 (2019 - 5)
Remuneration disclosed above include the following amounts paid to the highest paid director:
2020
2019
£
£
Remuneration for qualifying services
148,085
115,800
Company pension contributions to defined contribution schemes
40,000
46,064
2020-09-30
2019-10-01
false
CCH Software
CCH Accounts Production 2020.310
Mr G Bell
Miss H C Gordon
Mr J D Gordon (Dec'd)
Mr A R Watson
Miss L J Gordon
Mr S D Gordon
Mr S D Gordon
Ms L Curtis
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2020-09-30
02042982
core:Non-currentFinancialInstruments
core:UnlistedNon-exchangeTraded
2019-09-30
02042982
core:Non-currentFinancialInstruments
2020-09-30
02042982
core:Non-currentFinancialInstruments
2019-09-30
02042982
core:WithinOneYear
2020-09-30
02042982
core:WithinOneYear
2019-09-30
02042982
core:BetweenTwoFiveYears
2020-09-30
02042982
core:BetweenTwoFiveYears
2019-09-30
02042982
core:MoreThanFiveYears
2020-09-30
02042982
bus:PrivateLimitedCompanyLtd
2019-10-01
2020-09-30
02042982
bus:FRS102
2019-10-01
2020-09-30
02042982
bus:Audited
2019-10-01
2020-09-30
02042982
bus:FullAccounts
2019-10-01
2020-09-30
xbrli:pure
xbrli:shares
iso4217:GBP