Company Registration No. 02383478 (England and Wales)
BARFOOTS OF BOTLEY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
BARFOOTS OF BOTLEY LIMITED
COMPANY INFORMATION
Directors
P C Barfoot
H Kinloch
J D Marks
N J Lake
K Williams
C White
R R Beszant
P Powell
(Appointed 4 March 2022)
Company number
02383478
Registered office
Sefter Farm
Pagham Road
Bognor Regis
West Sussex
United Kingdom
PO21 3PX
Auditor
Azets Audit Services
Carnac Place
Cams Hall Estate
Fareham
Hampshire
United Kingdom
PO16 8UY
BARFOOTS OF BOTLEY LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Directors' responsibilities statement
6
Independent auditor's report
7 - 9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Notes to the financial statements
13 - 29
BARFOOTS OF BOTLEY LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 1 -
The directors present the strategic report for the year ended 31 December 2021.
Fair review of the business
In 2021 the Company sales fell back slightly (1.4%) after the boost in sales during the 2020 COVID pandemic lock downs where consumers bought more from our core customers, namely the big UK supermarkets. Gross margin also fell, from 12.1% in 2020 to 11.8% in 2021, partly due to rising costs in the second half of the year.
Cash margin fell 4% due to a combination of the drop in sales and GM%.
Principal risks and uncertainties
Our key areas of risk and uncertainty include;
-
With COVID restrictions being lifted in the latter part of 2021 and into 2022 we have seen consumers return to more normal shopping and eating habits, with more meals being consumed outside the home, reducing our sales to retailers in the second half of the year close to but above pre-COVID levels, after a strong first half year.
-
Ongoing and material increases in the cost of labour due to changes in government policy, particularly regarding the National Living Wage, but also from restrictions in labour supply with freedom of movement being ceased.
The above factors impact on the performance of the company and continue to make planning for the future more difficult.
The Company continues to invest in its facilities, new product development and innovative processes which we believe puts us on a good footing to remain competitive and profitable into the future.
2021 has proved challenging, with increased business risk and an uncertain macroeconomic environment in the “post COVID” world.
Key performance indicators
-
Sales are down from £193.1M to £190.3M (-1.4%)
-
Administrative costs are up from £15.8M to £17.4M (+9.6%), a large part of the increase due to changes in the value of foreign exchange contracts secured pre-Brexit
-
Operating profit including exceptional items has fallen from £8.2M to £5.4M (-35%), a combination of the increased administration costs and the fall in sales and GM%
-
Profit before tax has fallen from £8.3M to £6.3M (-25%)
BARFOOTS OF BOTLEY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
Statutory duties under s172(1) Companies Act 2006
The Board of Directors believe that they have acted in the way they consider to be both in good faith and would be most likely to promote the success of the Company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172(1)(a-f) of the Act) in the decisions taken during the year ended 31 December 2021; and in so having regard, amongst other matters to;
(a) the likely consequences of any decision in the long term,
(b) the interests of the Company’s employees
(c) the need to foster the Company's business relationships with suppliers, customers and others,
(d) the impact of the Company's operations on the community and the environment,
(e) the desirability of the Company maintaining a reputation for high standards of business conduct, and
(f) the need to act fairly as between members of the Company.
The Board has a business plan which is based around achieving our long-term goal of being regarded as a global farming and food business, supplying premium produce and exotic vegetable to the UK and European markets, via supermarkets and other outlets.
The Board understands the importance of engaging with all its stakeholders and regularly discusses issues concerning employees, clients, suppliers, community and environment, regulators and shareholders which inform its decision making processes.
Inherently, there is an inter-dependency on the success of the company and the success of its stakeholders.
Employees
Our employees remain fundamental to the achievement of our business plan. In addition to aiming to be a responsible employer in our approach to pay and benefits, we continue to engage with our team to ascertain which training and development opportunities should be made available to improve our team’s productivity and our individual employees’ potential within the business.
The Company encourages diversity and inclusion of employees of all backgrounds.
Customers
We continue to engage closely with our customers, who are mainly large UK supermarkets. Our aim is ensure that our customers’ needs are met, and we deliver a premium produce to our customers all year round, meeting demand and quality throughout.
Suppliers
We value the supplier base as partners and our aim is to develop and enter into strong stable working relationships with them. We seek to be fair and transparent in our dealings with suppliers and we ensure that we honour our arrangements with them.
Environment and community
The Board takes sustainability and environmental responsibility very seriously, which is evidenced by the establishment of Barfoot Energy Limited within the Group of which the Company is a part, enabling the Company to generate more than twice the energy it needs, from its green factory waste, and selling the surplus to the National Grid. This leads to other environmental benefits, including a significant reduction in the number of tractor and lorry journeys required to transport waste away from our sites each year, thus lessening our impact on the local community and surroundings. The business is due to commission a water treatment plant and install large scale solar PV in 2022 to further increase its sustainability.
BARFOOTS OF BOTLEY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
Governance and regulation
The Board’s intention is to behave responsibly and to ensure that the management team operates the business in a responsible manner, acting with the high standards of business conduct and good governance expected of a business of our nature and size and in full alignment with the rules and regulations. In doing so, we believe we will achieve our long-term business strategy and also further develop our reputation in our sector.
J D Marks
Director
12 April 2022
BARFOOTS OF BOTLEY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
The directors present their annual report and financial statements for the year ended 31 December 2021.
Principal activities
The principal activity of the company continued to be that of import, packaging and distribution of semi exotic produce.
Results and dividends
The results for the year are set out on page 10.
Ordinary dividends were paid amounting to £8,500,000. The directors do not recommend payment of a further dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
P C Barfoot
H Kinloch
J D Marks
N J Lake
K Williams
C White
R R Beszant
P Powell
(Appointed 4 March 2022)
Financial instruments
Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.
Currency risk
The company can be exposed to foreign exchange risk. This is however managed through the use of forward contracts.
Cash flow risk
The company mitigates cash flow risk by the use of an invoice discounting facility.
Disabled persons
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
BARFOOTS OF BOTLEY LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
Employee involvement
The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.
Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.
There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the company's performance.
Future developments
Future developments are set out in the Strategic Report.
Energy and carbon report
As the company is consolidated into the group accounts of Posbrook Holdings Limited who provide an energy and carbon report on a group basis, Barfoots of Botley Limited is not required to report on its emissions, energy consumption or energy efficiency activities.
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 company’s
auditor
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 company’s
auditor
is aware of that information.
On behalf of the board
J D Marks
Director
12 April 2022
BARFOOTS OF BOTLEY LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
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.
BARFOOTS OF BOTLEY LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BARFOOTS OF BOTLEY LIMITED
- 7 -
Opinion
We have audited the financial statements of Barfoots of Botley Limited (the 'company') for the year ended 31 December 2021 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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 31 December 2021 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
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 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.
The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.
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.
BARFOOTS OF BOTLEY LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BARFOOTS OF BOTLEY LIMITED
- 8 -
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
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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
BARFOOTS OF BOTLEY LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BARFOOTS OF BOTLEY LIMITED
- 9 -
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
-
Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
-
Reviewing minutes of meetings of those charged with governance;
-
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
-
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
-
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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.
Zara Hogg FCA, BA (Hons) (Senior Statutory Auditor)
For and on behalf of Azets Audit Services
13 April 2022
Chartered Accountants
Statutory Auditor
Carnac Place
Cams Hall Estate
Fareham
Hampshire
United Kingdom
PO16 8UY
BARFOOTS OF BOTLEY LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2021
- 10 -
2021
2020
Notes
£
£
Turnover
3
190,346,952
193,108,947
Cost of sales
(167,894,752)
(169,734,661)
Gross profit
22,452,200
23,374,286
Administrative expenses
(17,358,590)
(15,843,497)
Other operating income
360,779
714,204
Operating profit
4
5,454,389
8,244,993
Interest receivable and similar income
8
81,298
137,018
Interest payable and similar expenses
9
(45,191)
(71,341)
Gain/(loss) on financial assets at fair value through profit and loss account
10
820,031
21,011
Profit before taxation
6,310,527
8,331,681
Tax on profit
11
(1,280,183)
(1,152,629)
Profit for the financial year
5,030,344
7,179,052
The profit and loss account has been prepared on the basis that all operations are continuing operations.
BARFOOTS OF BOTLEY LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2021
31 December 2021
- 11 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
13
27,727,011
27,072,088
Investments
14
511,351
517,678
28,238,362
27,589,766
Current assets
Stocks
18
5,778,851
5,509,640
Debtors
19
28,159,142
31,440,649
Cash at bank and in hand
5,362,783
10,959,397
39,300,776
47,909,686
Creditors: amounts falling due within one year
20
(18,801,411)
(23,326,169)
Net current assets
20,499,365
24,583,517
Total assets less current liabilities
48,737,727
52,173,283
Creditors: amounts falling due after more than one year
21
(1,470,000)
(1,764,000)
Provisions for liabilities
Deferred tax liability
24
893,046
564,946
(893,046)
(564,946)
Net assets
46,374,681
49,844,337
Capital and reserves
Called up share capital
27
33,154
33,154
Share premium account
28
4,424
4,424
Other reserves
28
10,980
10,980
Profit and loss reserves
28
46,326,123
49,795,779
Total equity
46,374,681
49,844,337
The financial statements were approved by the board of directors and authorised for issue on 12 April 2022 and are signed on its behalf by:
J D Marks
Director
Company Registration No. 02383478
BARFOOTS OF BOTLEY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021
- 12 -
Share capital
Share premium account
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 January 2020
33,154
4,424
10,980
50,116,727
50,165,285
Year ended 31 December 2020:
Profit and total comprehensive income for the year
-
-
-
7,179,052
7,179,052
Dividends
12
-
-
-
(7,500,000)
(7,500,000)
Balance at 31 December 2020
33,154
4,424
10,980
49,795,779
49,844,337
Year ended 31 December 2021:
Profit and total comprehensive income for the year
-
-
-
5,030,344
5,030,344
Dividends
12
-
-
-
(8,500,000)
(8,500,000)
Balance at 31 December 2021
33,154
4,424
10,980
46,326,123
46,374,681
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 13 -
1
Accounting policies
Company information
Barfoots of Botley Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Sefter Farm, Pagham Road, Bognor Regis, West Sussex, United Kingdom, PO21 3PX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “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 £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares
publicly available consolidated financial statements
, including this company,
which are
intended to give a true and fair view of the assets, liabilities,
financial position and profit or loss
of the group
.
T
he company has
therefore
taken advantage of
e
xemptions from the following disclosure requirements:
- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
-
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’
:
Interest
income/expense and net gains/losses for each category of financial instrument;
basis
of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income
;
-
Section 33 ‘Related Party Disclosures’
:
Compensation for key management personnel
.
The company has taken advantage of the exemption under section 400 of the
Companies Act 2006 not to prepare consolidated accounts. The
financial statements
present information about the company as an individual entity and not about its group
.
Barfoots of Botley Limited is a wholly owned subsidiary of Posbrook Holdings Limited and the results of Barfoots of Botley Limited are included in the consolidated financial statements of Posbrook Holdings Limited which are available from Sefter Farm, Pagham Road, Bognor Regis, West Sussex, United Kingdom, PO21 3PX.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The business continues to maintain strong reserves and has a robust asset base and as a result we remain confident it is appropriate for the company to continue to adopt the going concern basis of preparation for a period of 12 months from the date of approving these financial statements.
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 14 -
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, 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
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.
Assets under construction are not depreciated until they are brought into use.
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:
Freehold land and buildings
10% straight line basis
Leasehold land and buildings
10% straight line basis
Plant and equipment
15% straight line basis
Fixtures and fittings
15% - 33% straight line basis
Motor vehicles
20% - 33% straight line basis
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
.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 15 -
1.6
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
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). 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.
1.7
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.
1.8
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.
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.
1.9
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.
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 16 -
1.10
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.
1.11
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.
1.12
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.
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 17 -
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.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant
effect on amounts recognised in the financial statements.
Determine whether there are any indicators of impairments of the company's tangible fixed assets
Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.
Determine whether borrowings are classed as current or non-current borrowings
These decisions depend on the cash flow requirements of the company and whether the borrowings of the company can be repaid.
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.
Tangible fixed assets, other than land, are depreciated over their useful lives, taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into consideration. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Land is not depreciated in accordance with FRS 102.
Stock is reviewed annually for impairment and a stock provision is provided for accordingly on a line by line basis. Product life cycles, general market conditions and expected net realisable value are taken into consideration when determining the level of provision required.
Forward currency contracts are valued on the basis of the bank valuation.
3
Turnover and other revenue
2021
2020
£
£
Turnover analysed by class of business
Sale of goods
190,346,952
193,108,947
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
3
Turnover and other revenue
(Continued)
- 18 -
2021
2020
£
£
Other significant revenue
Interest income
81,298
137,018
Other operating income
307,307
714,204
2021
2020
£
£
Turnover analysed by geographical market
UK
189,139,329
190,191,818
Europe
1,207,623
2,917,129
190,346,952
193,108,947
4
Operating profit
2021
2020
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
1,727,244
30,194
Research and development costs
(3,105)
(4,979)
Depreciation of owned tangible fixed assets
3,525,020
3,313,423
Depreciation of tangible fixed assets held under finance leases
19,596
19,596
(Profit)/loss on disposal of tangible fixed assets
2,437
Operating lease charges
1,241,714
1,090,005
5
Auditor's remuneration
2021
2020
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
18,415
16,105
The remunerations received by the auditor for other services are disclosed in the consolidated financial statements of the company's parent, Posbrook Holdings Limited.
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 19 -
6
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Production
449
396
Administration and support
100
92
549
488
Their aggregate remuneration comprised:
2021
2020
£
£
Wages and salaries
17,551,670
16,195,935
Social security costs
1,660,056
1,625,542
Pension costs
353,468
309,378
19,565,194
18,130,855
7
Directors' remuneration
2021
2020
£
£
Remuneration for qualifying services
1,681,708
2,217,442
Company pension contributions to defined contribution schemes
16,610
16,448
1,698,318
2,233,890
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 6 (2020 - 6).
Remuneration disclosed above include the following amounts paid to the highest paid director:
2021
2020
£
£
Remuneration for qualifying services
860,449
701,904
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 20 -
8
Interest receivable and similar income
2021
2020
£
£
Interest income
Interest on bank deposits
81,298
137,018
Investment income includes the following:
Interest on financial assets not measured at fair value through profit or loss
81,298
137,018
9
Interest payable and similar expenses
2021
2020
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
44,644
70,267
Other finance costs:
Other interest
547
1,074
45,191
71,341
10
Amounts written off investments
2021
2020
£
£
Fair value gains/(losses) on financial instruments
Change in value of financial assets held at fair value through profit or loss
876,618
21,011
Other gains/(losses)
Other gains and losses (see note 15)
(56,587)
-
820,031
21,011
11
Taxation
2021
2020
£
£
Current tax
UK corporation tax on profits for the current period
906,891
886,519
Adjustments in respect of prior periods
20,937
(34,860)
Other taxes
24,255
48,465
Total current tax
952,083
900,124
Deferred tax
Origination and reversal of timing differences
328,100
252,505
Total tax charge
1,280,183
1,152,629
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
11
Taxation
(Continued)
- 21 -
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:
2021
2020
£
£
Profit before taxation
6,310,527
8,331,681
Expected tax charge based on the standard rate of corporation tax in the UK of 19.00% (2020: 19.00%)
1,199,000
1,583,019
Tax effect of expenses that are not deductible in determining taxable profit
(14,050)
10,176
Tax effect of income not taxable in determining taxable profit
(10,160)
(5,364)
Permanent capital allowances in excess of depreciation
134,488
119,118
Under/(over) provided in prior years
20,935
(34,860)
Deferred tax adjustments in respect of prior years
(18,284)
62,463
Decrease from effect of tax incentives
(246,077)
(626,029)
Gross deferred tax rate movement
214,331
44,106
Taxation charge for the year
1,280,183
1,152,629
12
Dividends
2021
2020
£
£
Final paid
8,500,000
7,500,000
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 22 -
13
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Assets under construction
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 January 2021
14,705,291
7,371,776
757,957
26,266,699
1,818,802
411,357
51,331,882
Additions
698,116
49,423
1,547,372
2,255,372
106,379
458
4,657,120
Disposals
(28,943)
(375,455)
(344,790)
(279,958)
(164,248)
(1,193,394)
Transfers
13,138
(16,190)
2,455
597
At 31 December 2021
15,416,545
7,392,256
1,913,684
28,179,736
1,645,820
247,567
54,795,608
Depreciation and impairment
At 1 January 2021
791,059
5,232,600
17,065,521
1,021,940
148,674
24,259,794
Depreciation charged in the year
395,364
380,549
2,315,891
400,072
52,740
3,544,616
Eliminated in respect of disposals
(28,941)
(344,790)
(279,958)
(82,124)
(735,813)
At 31 December 2021
1,186,423
5,584,208
19,036,622
1,142,054
119,290
27,068,597
Carrying amount
At 31 December 2021
14,230,122
1,808,048
1,913,684
9,143,114
503,766
128,277
27,727,011
At 31 December 2020
13,914,232
2,139,176
757,957
9,201,178
796,862
262,683
27,072,088
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
13
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.
2021
2020
£
£
Motor vehicles
57,155
76,751
14
Fixed asset investments
2021
2020
Notes
£
£
Investments in subsidiaries
15
31,252
62,579
Investments in associates
16
455,099
455,099
Unlisted investments
25,000
511,351
517,678
Movements in fixed asset investments
Shares in subsidiaries and associates
Other investments
Total
£
£
£
Cost or valuation
At 1 January 2021
517,678
-
517,678
Additions
25,260
25,000
50,260
At 31 December 2021
542,938
25,000
567,938
Impairment
At 1 January 2021
-
-
-
Impairment losses
56,587
-
56,587
At 31 December 2021
56,587
-
56,587
Carrying amount
At 31 December 2021
486,351
25,000
511,351
At 31 December 2020
517,678
-
517,678
The impairment losses in respect of financial assets are recognised in other gains and losses in the profit and loss account.
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 24 -
15
Subsidiaries
Details of the company's subsidiaries at 31 December 2021 are as follows:
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Indirect
Barfoots Cropping Limited
England and Wales
Farming chilli peppers
Ordinary shares
100.00
-
Barfoots Espana S.L
Spain
Supply chain logistics
Ordinary shares
80.00
-
Barfoots Iberica S.L
Spain
Farming vegetables
Ordinary shares
0
72.00
Barfoots Latin America S.A.C
Peru
Dormant
Ordinary shares
100.00
-
16
Associates
Details of the company's associates at 31 December 2021 are as follows:
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Societe De Cultures Legumieres
Senegal
Farming vegetables
Ordinary shares
46.30
The shares held in Societe De Cultures Legumieres (SCL), with a cost of £375,657 have been allocated as part of the collateral for SCL's estimated secured obligation of €1,040,662 (2020 - €2,026,455) in respect of loans received from Societe Belge D'Investissement Pour Les Pays En Developpement SA.
17
Financial instruments
2021
2020
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
9,419
-
Carrying amount of financial liabilities
Measured at fair value through profit or loss
- Other financial liabilities
-
867,199
Forward foreign exchange contracts
A valuation was carried out by the banks with whom the contracts are held.
The value of the asset changes when there are movements in the spot rate. The change in value included in profit or loss is a profit of £876,618 (2020 - a profit of £21,011).
18
Stocks
2021
2020
£
£
Raw materials and consumables
3,811,087
3,283,670
Work in progress
1,967,764
2,225,970
5,778,851
5,509,640
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 25 -
19
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
19,452,702
21,811,273
Corporation tax recoverable
447,352
333,027
Amounts owed by group undertakings
4,461,002
3,285,662
Derivative financial instruments
9,419
-
Other debtors
2,213,650
4,555,418
Prepayments and accrued income
1,121,955
789,794
27,706,080
30,775,174
2021
2020
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
453,062
665,475
Total debtors
28,159,142
31,440,649
20
Creditors: amounts falling due within one year
2021
2020
Notes
£
£
Bank loans and overdrafts
22
565,073
1,881,924
Obligations under finance leases
23
3,106
42,169
Trade creditors
11,961,904
13,280,945
Amounts owed to group undertakings
100
100
Taxation and social security
365,092
349,323
Derivative financial instruments
867,199
Government grants
25
413,659
Other creditors
137,535
1,148,356
Accruals and deferred income
5,354,942
5,756,153
18,801,411
23,326,169
21
Creditors: amounts falling due after more than one year
2021
2020
Notes
£
£
Bank loans and overdrafts
22
1,470,000
1,764,000
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 26 -
22
Loans and overdrafts
2021
2020
£
£
Bank loans
1,680,000
1,890,000
Bank overdrafts
355,073
1,755,924
2,035,073
3,645,924
Payable within one year
565,073
1,881,924
Payable after one year
1,470,000
1,764,000
The long-term loans are secured by fixed charges over all freehold and leasehold property now or subsequently owned by the company.
23
Finance lease obligations
2021
2020
Future minimum lease payments due under finance leases:
£
£
Within one year
3,106
42,169
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 2 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
24
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2021
2020
Balances:
£
£
Accelerated capital allowances
912,512
578,820
Retirement benefit obligations
(19,466)
(13,874)
893,046
564,946
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
24
Deferred taxation
(Continued)
- 27 -
2021
Movements in the year:
£
Liability at 1 January 2021
564,946
Charge to profit or loss
328,100
Liability at 31 December 2021
893,046
25
Deferred grants
2021
2020
£
£
Arising from government grants
413,659
-
The
grant
relates to the Rural Development grant claim under the Growth Programme Scheme.
26
Retirement benefit schemes
2021
2020
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
353,468
309,378
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.
Contributions totalling £77,863 (2020: £73,030) were payable to the scheme at the end of the year and are included in creditors.
27
Share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
33,154
33,154
33,154
33,154
Ordinary shares have the following rights, preferences and restrictions:
Full voting and equity rights.
28
Reserves
Share premium
The share premium reserve represents the difference between the par value of the shares issued and the subscription or issue price.
Share capital
Share capital represents the nominal value of shares that have been issued.
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
28
Reserves
(Continued)
- 28 -
Other reserves
The other reserves represents amounts by which the company's issued share capital diminished and where shares of the company were redeemed or purchased wholly out of the company's profits.
Profit and loss account
The profit and loss account represents all accumulated net gains and losses.
29
Financial commitments, guarantees and contingent liabilities
The company has guaranteed to support various connected entities in the event that they are unable to discharge their liabilities as they fall due.
30
Operating lease commitments
Lessee
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:
2021
2020
£
£
Within one year
220,396
212,414
Between two and five years
75,964
54,169
296,360
266,583
31
Capital commitments
Amounts contracted for but not provided in the financial statements:
2021
2020
£
£
Acquisition of tangible fixed assets
816,692
-
32
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Sales
Purchases
2021
2020
2021
2020
£
£
£
£
Subsidiaries
69,602
133,044
4,891,362
5,769,858
Associates
292,605
235,301
22,128,607
17,841,390
BARFOOTS OF BOTLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
32
Related party transactions
(Continued)
- 29 -
The following amounts were outstanding at the reporting end date:
2021
2020
Amounts due to related parties
£
£
Subsidiaries
485,236
773,357
Associates
1,519,188
1,323,342
2021
2020
Amounts due from related parties
£
£
Subsidiaries
1,396,666
1,784,251
Associates
459,317
2,630,210
Summary of transactions with subsidiaries
Sales and purchases between subsidiaries are made at normal market prices. Outstanding balances with entities are unsecured, interest free and cash settlement, with exception of the loan, is expected within the normal credit terms.
The company has not provided or benefitted from any guarantees for any subsidiaries receivables or payables.
Summary of transactions with associates
Sales and purchases between associates are made at normal market prices. Outstanding balances with entities are unsecured, interest free and cash settlement, with exception of the loan, is expected within the normal credit terms.
The company has not provided or benefitted from any guarantees for any associates receivables or payables.
The company has taken advantage of the exemption not to disclose tr
ansactions entered into between two or more members of
the
group as long as any subsidiary which is a party to the transaction is wholly owned by such a member.
33
Ultimate controlling party
The company's immediate parent is Posbrook Holdings Limited, a company incorporated in England and Wales.
The financial statements for the parent company are available upon request from the company at Sefter Farm, Pagham Road, Bognor Regis, West Sussex, PO21 3PX.
The ultimate controlling party is Peter Barfoot, who is the sole shareholder of Posbrook Holdings Limited, the immediate parent company.
2021-12-31
2021-01-01
false
CCH Software
CCH Accounts Production 2022.100
P C Barfoot
H Kinloch
J D Marks
J D Marks
N J Lake
K Williams
C White
R R Beszant
02383478
2021-01-01
2021-12-31
02383478
bus:Director1
2021-01-01
2021-12-31
02383478
bus:Director2
2021-01-01
2021-12-31
02383478
bus:Director4
2021-01-01
2021-12-31
02383478
bus:Director5
2021-01-01
2021-12-31
02383478
bus:Director6
2021-01-01
2021-12-31
02383478
bus:Director7
2021-01-01
2021-12-31
02383478
bus:Director8
2021-01-01
2021-12-31
02383478
bus:Director9
2021-01-01
2021-12-31
02383478
bus:Director3
2021-01-01
2021-12-31
02383478
bus:RegisteredOffice
2021-01-01
2021-12-31
02383478
2021-12-31
02383478
2020-01-01
2020-12-31
02383478
core:RetainedEarningsAccumulatedLosses
2020-01-01
2020-12-31
02383478
core:RetainedEarningsAccumulatedLosses
2021-01-01
2021-12-31
02383478
2020-12-31
02383478
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-12-31
02383478
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2021-12-31
02383478
core:ConstructionInProgressAssetsUnderConstruction
2021-12-31
02383478
core:PlantMachinery
2021-12-31
02383478
core:FurnitureFittings
2021-12-31
02383478
core:MotorVehicles
2021-12-31
02383478
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-12-31
02383478
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2020-12-31
02383478
core:ConstructionInProgressAssetsUnderConstruction
2020-12-31
02383478
core:PlantMachinery
2020-12-31
02383478
core:FurnitureFittings
2020-12-31
02383478
core:MotorVehicles
2020-12-31
02383478
core:Non-currentFinancialInstruments
2020-12-31
02383478
core:CurrentFinancialInstruments
core:WithinOneYear
2021-12-31
02383478
core:CurrentFinancialInstruments
core:WithinOneYear
2020-12-31
02383478
core:Non-currentFinancialInstruments
core:AfterOneYear
2021-12-31
02383478
core:Non-currentFinancialInstruments
core:AfterOneYear
2020-12-31
02383478
core:CurrentFinancialInstruments
2021-12-31
02383478
core:CurrentFinancialInstruments
2020-12-31
02383478
core:ShareCapital
2021-12-31
02383478
core:ShareCapital
2020-12-31
02383478
core:SharePremium
2021-12-31
02383478
core:SharePremium
2020-12-31
02383478
core:OtherMiscellaneousReserve
2021-12-31
02383478
core:OtherMiscellaneousReserve
2020-12-31
02383478
core:RetainedEarningsAccumulatedLosses
2021-12-31
02383478
core:RetainedEarningsAccumulatedLosses
2020-12-31
02383478
core:ShareCapital
2019-12-31
02383478
core:SharePremium
2019-12-31
02383478
core:OtherMiscellaneousReserve
2019-12-31
02383478
core:RetainedEarningsAccumulatedLosses
2019-12-31
02383478
2019-12-31
02383478
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-01-01
2021-12-31
02383478
core:LandBuildings
core:LongLeaseholdAssets
2021-01-01
2021-12-31
02383478
core:PlantMachinery
2021-01-01
2021-12-31
02383478
core:FurnitureFittings
2021-01-01
2021-12-31
02383478
core:MotorVehicles
2021-01-01
2021-12-31
02383478
core:OwnedAssets
2021-01-01
2021-12-31
02383478
core:OwnedAssets
2020-01-01
2020-12-31
02383478
core:LeasedAssets
2021-01-01
2021-12-31
02383478
core:LeasedAssets
2020-01-01
2020-12-31
02383478
1
2021-01-01
2021-12-31
02383478
1
2020-01-01
2020-12-31
02383478
core:UKTax
2021-01-01
2021-12-31
02383478
core:UKTax
2020-01-01
2020-12-31
02383478
2
2021-01-01
2021-12-31
02383478
2
2020-01-01
2020-12-31
02383478
3
2021-01-01
2021-12-31
02383478
3
2020-01-01
2020-12-31
02383478
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-12-31
02383478
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2020-12-31
02383478
core:ConstructionInProgressAssetsUnderConstruction
2020-12-31
02383478
core:PlantMachinery
2020-12-31
02383478
core:FurnitureFittings
2020-12-31
02383478
core:MotorVehicles
2020-12-31
02383478
2020-12-31
02383478
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2021-01-01
2021-12-31
02383478
core:ConstructionInProgressAssetsUnderConstruction
2021-01-01
2021-12-31
02383478
core:Non-currentFinancialInstruments
2021-12-31
02383478
core:Non-currentFinancialInstruments
core:UnlistedNon-exchangeTraded
2021-12-31
02383478
core:Non-currentFinancialInstruments
core:UnlistedNon-exchangeTraded
2020-12-31
02383478
core:Subsidiary1
2021-01-01
2021-12-31
02383478
core:Subsidiary2
2021-01-01
2021-12-31
02383478
core:Subsidiary3
2021-01-01
2021-12-31
02383478
core:Subsidiary4
2021-01-01
2021-12-31
02383478
core:Subsidiary1
1
2021-01-01
2021-12-31
02383478
core:Subsidiary2
2
2021-01-01
2021-12-31
02383478
core:Subsidiary3
3
2021-01-01
2021-12-31
02383478
core:Subsidiary4
4
2021-01-01
2021-12-31
02383478
core:Associate1
2021-01-01
2021-12-31
02383478
core:Associate1
1
2021-01-01
2021-12-31
02383478
core:AfterOneYear
2021-12-31
02383478
core:AfterOneYear
2020-12-31
02383478
core:WithinOneYear
2021-12-31
02383478
core:WithinOneYear
2020-12-31
02383478
core:BetweenTwoFiveYears
2021-12-31
02383478
core:BetweenTwoFiveYears
2020-12-31
02383478
bus:PrivateLimitedCompanyLtd
2021-01-01
2021-12-31
02383478
bus:FRS102
2021-01-01
2021-12-31
02383478
bus:Audited
2021-01-01
2021-12-31
02383478
bus:FullAccounts
2021-01-01
2021-12-31
xbrli:pure
xbrli:shares
iso4217:GBP