Company registration number 10071438 (England and Wales)
STAR TISSUE HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
STAR TISSUE HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Abid Ditta
Khalid Saifullah
Sajid Saifullah
Company number
10071438
Registered office
Waterfall Street
Blackburn
Lancashire
BB2 2BN
Auditor
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
Business address
Waterfall Street
Blackburn
Lancashire
BB2 2BN
Bankers
HSBC Bank plc
60 Church Street
Blackburn
Lancashire
BB1 5AS
STAR TISSUE HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 29
STAR TISSUE HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 1 -
The directors present the strategic report
and financial statements
for the year ended 30 September 2022.
Fair review of the business
Our principal trading activity has been the manufacture of hygiene paper products for the Away from Home (AFH) market which includes the food, leisure, hospitality, office, industry and medical sectors.
We have continued to invest heavily in the site as part of our Future Factory programme. Two production lines have now been completely automated and a third is scheduled for completion in April 2023.
We have built a further extension to our production facility, a new gatehouse to manage goods in/out and we have resurfaced and marked out the service yard to increase the capacity to handle more deliveries and shipments.
A new CCTV and security system has been installed in all of the buildings onsite.
A new office block extension has been completed with a new reception, eight new offices, office canteen and toilets.
We have also introduced an energy efficiency programme with the aim of reducing our energy usage and carbon footprint. We have successfully transitioned to all electric fork lift trucks and have installed energy efficient lighting.
New process innovations are being explored to further integrate our machines with our ERP system. Utilising IOT and AI, it is possible to gather much more data to help with maintenance and production planning.
Further machine upgrades are planned to improve machine output, providing much needed additional capacity to meet new and existing customer requirements.
Business environment
Overall, demand increased for Away from Home products and we have continued to take steps to increase production capacity to meet these increasing demands. Our wide range of products and diverse customer base enabled us to meet demand and increase our turnover by 50% this year to £42.6m, well above our targeted growth rate of 25%. The investments will provide much needed capacity next year to meet the increased demands of hygiene paper products. We are projecting to grow by 20-25% next year.
The directors continue to assess the important risks faced by the group including risks associated with Brexit and COVID. The directors plan to continue with the strategy which has led to the satisfactory results.
Strategic management
Our strategy is to continue to grow the business through strategic investments that will introduce new products to our product range enhancing our product offering and providing a one stop shop for our customers. In the coming year our investments will be focussed on productivity, automation and people development. We will continue to maintain and strengthen our balance sheet with a view to exploring bigger investment opportunities that will increase our bottom line and market share. The group has developed a strong relationship with its finance providers which has resulted in a generous working capital facility agreed at competitive borrowing rates to help fund continued growth. The group has continued to recruit the best people that are able to grow and develop in a fast growing business where productivity and innovation drives improvements throughout the business.
Key performance indicators
The directors continue to measure the performance of the group by reference to turnover growth, overall gross profit and net profitability of its subsidiary which are monitored on a monthly basis. We are pleased to report that the business has demonstrated its resilience in this challenging climate by growing its turnover and maintaining its profitability.
STAR TISSUE HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 2 -
Khalid Saifullah
Director
12 January 2023
STAR TISSUE HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 3 -
The directors present their annual report and financial statements for the year ended 30 September 2022.
Principal activities
The principal activity of the company is that of a parent company coordinating the activities of the group, whose trading subsidiary's principal activity is that of the manufacture and distribution of quality hygiene paper products.
Results and dividends
The results for the year are set out on page 8.
Ordinary dividends were paid amounting to £877,500. 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:
Abid Ditta
Khalid Saifullah
Sajid Saifullah
Auditor
The auditor, Pierce C.A. Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of directors' responsibilities
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 group and company, and of the profit or loss of the group 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
;
-
prepare the
on the going concern basis unless it is inappropriate to presume that the
group and
company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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.
STAR TISSUE HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 4 -
On behalf of the board
Khalid Saifullah
Director
12 January 2023
STAR TISSUE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF STAR TISSUE HOLDINGS LIMITED
- 5 -
Opinion
We have audited the
financial statements of
Star Tissue Holdings Limited
(the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2022 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows 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 Financial Reporting Standard 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 group's and the parent company's affairs as at 30 September 2022 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
group and
parent 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
group's and
parent
company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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.
STAR TISSUE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF STAR TISSUE HOLDINGS LIMITED
- 6 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the
group and the parent
company and
their
environment obtained in the course of the audit, we have not identifie
d
material misstatements in the strategic report or the directors'
r
eport
.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
-
the parent company 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
parent
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 parent 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
.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below
.
In identifying and assessing risks of material misstatement in respect of irregularities we considered the following:
-
The nature of the industry and the
group and
company’s control environment.
-
Results of our enquiries of management.
-
The
group and
company’s procedures and controls on compliance with laws and regulations and the risks of fraud.
-
Discussions among the audit engagement team concerning potential indicators of fraud.
We are also required to perform specific procedures to respond to the risk of management override.
As a result of our audit procedures we did not identify a material risk of fraud or other non-compliance with laws and regulations
.
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.
STAR TISSUE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF STAR TISSUE HOLDINGS LIMITED
- 7 -
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.
Paul Moulding (Senior Statutory Auditor)
For and on behalf of Pierce C A Limited
12 January 2023
Statutory Auditor
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
STAR TISSUE HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 8 -
2022
2021
Notes
£
£
Turnover
3
42,608,722
28,810,972
Cost of sales
(33,582,923)
(22,655,958)
Gross profit
9,025,799
6,155,014
Administrative expenses
(3,454,917)
(3,169,020)
Other operating income
36,185
146,446
Operating profit
4
5,607,067
3,132,440
Interest payable and similar expenses
8
(74,955)
(57,827)
Profit before taxation
5,532,112
3,074,613
Tax on profit
9
(1,296,554)
(781,611)
Profit for the financial year
4,235,558
2,293,002
Other comprehensive income
Revaluation of tangible fixed assets
1,794,428
Total comprehensive income for the year
6,029,986
2,293,002
Profit and total comprehensive income for the year is all attributable to the owners of the parent company.
STAR TISSUE HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT
30 SEPTEMBER 2022
30 September 2022
- 9 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
12
9,273,606
6,984,211
Current assets
Stocks
15
7,669,336
2,605,865
Debtors
16
9,403,678
8,090,674
Cash at bank and in hand
4,193,139
4,648,675
21,266,153
15,345,214
Creditors: amounts falling due within one year
17
(9,114,093)
(6,719,596)
Net current assets
12,152,060
8,625,618
Total assets less current liabilities
21,425,666
15,609,829
Creditors: amounts falling due after more than one year
18
(2,528,468)
(2,288,883)
Provisions for liabilities
Deferred tax liability
21
1,408,396
984,630
(1,408,396)
(984,630)
Net assets
17,488,802
12,336,316
Capital and reserves
Called up share capital
24
90
90
Revaluation reserve
1,990,584
198,416
Capital redemption reserve
10
10
Profit and loss reserves
15,498,118
12,137,800
Total equity
17,488,802
12,336,316
The financial statements were approved by the board of directors and authorised for issue on 12 January 2023 and are signed on its behalf by:
12 January 2023
Khalid Saifullah
Director
Company registration number 10071438 (England and Wales)
STAR TISSUE HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2022
30 September 2022
- 10 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
12
4,375,000
2,008,941
Investments
13
100
100
4,375,100
2,009,041
Current assets
Debtors
16
960,000
878,543
Cash at bank and in hand
2,401,129
2,634,550
3,361,129
3,513,093
Creditors: amounts falling due within one year
17
(294,043)
(35,527)
Net current assets
3,067,086
3,477,566
Total assets less current liabilities
7,442,186
5,486,607
Creditors: amounts falling due after more than one year
18
(496,643)
(516,453)
Provisions for liabilities
Deferred tax liability
21
392,294
19,343
(392,294)
(19,343)
Net assets
6,553,249
4,950,811
Capital and reserves
Called up share capital
24
90
90
Revaluation reserve
1,794,428
Capital redemption reserve
10
10
Profit and loss reserves
4,758,721
4,950,711
Total equity
6,553,249
4,950,811
As permitted by s408 Companies Act 2006, the
c
ompany has not presented its own profit and loss account and related notes. The
c
ompany’s profit for the year was £
685,510
(202
1
- £1,032,199).
The financial statements were approved by the board of directors and authorised for issue on 12 January 2023 and are signed on its behalf by:
12 January 2023
Khalid Saifullah
Director
Company registration number 10071438 (England and Wales)
STAR TISSUE HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 11 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 October 2020
90
200,676
10
10,222,038
10,422,814
Year ended 30 September 2021:
Profit and total comprehensive income for the year
-
-
-
2,293,002
2,293,002
Dividends
10
-
-
-
(379,500)
(379,500)
Transfers
-
(2,260)
-
2,260
-
Balance at 30 September 2021
90
198,416
10
12,137,800
12,336,316
Year ended 30 September 2022:
Profit for the year
-
-
-
4,235,558
4,235,558
Other comprehensive income:
Revaluation of tangible fixed assets
-
1,794,428
-
-
1,794,428
Total comprehensive income for the year
-
1,794,428
-
4,235,558
6,029,986
Dividends
10
-
-
-
(877,500)
(877,500)
Transfers
-
(2,260)
-
2,260
-
Balance at 30 September 2022
90
1,990,584
10
15,498,118
17,488,802
STAR TISSUE HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 12 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 October 2020
90
-
10
4,298,012
4,298,112
Year ended 30 September 2021:
Profit and total comprehensive income for the year
-
-
-
1,032,199
1,032,199
Dividends
10
-
-
-
(379,500)
(379,500)
Balance at 30 September 2021
90
10
4,950,711
4,950,811
Year ended 30 September 2022:
Profit for the year
-
-
-
685,510
685,510
Other comprehensive income:
Revaluation of tangible fixed assets
-
1,794,428
-
-
1,794,428
Total comprehensive income for the year
-
1,794,428
-
685,510
2,479,938
Dividends
10
-
-
-
(877,500)
(877,500)
Balance at 30 September 2022
90
1,794,428
10
4,758,721
6,553,249
STAR TISSUE HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 13 -
2022
2021
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
29
(713,248)
2,785,712
Interest paid
(74,955)
(57,827)
Income taxes paid
(248,872)
(871,484)
Net cash (outflow)/inflow from operating activities
(1,037,075)
1,856,401
Investing activities
Purchase of tangible fixed assets
(1,069,180)
(1,280,917)
Repayment/(advances) of loans made
577,500
(498,000)
Net cash used in investing activities
(491,680)
(1,778,917)
Financing activities
Repayment of bank loans
(28,006)
(30,291)
Advances from finance leases providers
796,500
1,295,576
Payment for finances leases obligations
(430,949)
(454,163)
Dividends paid to equity shareholders
(877,500)
(379,500)
Net cash (used in)/generated from financing activities
(539,955)
431,622
Net (decrease)/increase in cash and cash equivalents
(2,068,710)
509,106
Cash and cash equivalents at beginning of year
4,648,675
4,139,569
Cash and cash equivalents at end of year
2,579,965
4,648,675
Relating to:
Cash at bank and in hand
4,193,139
4,648,675
Bank overdrafts included in creditors payable within one year
(1,613,174)
-
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 14 -
1
Accounting policies
Company information
Star Tissue Holdings Limited
(“the company”)
is a
private
limited company domiciled and incorporated in
England and Wales
.
The registered office is
Waterfall Street, Blackburn, Lancashire, BB2 2BN.
The group consists of Star Tissue Holdings Limited and all of its subsidiaries.
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, as modified to include the revaluation of the group's leasehold land and buildings. The principal accounting policies adopted are set out below.
1.2
Basis of consolidation
In the parent company
financial statements, t
he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess
or deficit
of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill
or negative goodwill respectively
.
The acquired negative goodwill arising on consolidation has been written off in full in the period of acquisition. I
nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.
The consolidated group financial statements consist of the financial statements of the parent company
Star Tissue Holdings Limited
together with
all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates
.
All
financial statements
are made up to 30 September 2022
.
Where necessary, adjustments are made to the
financial statements
of subsidiaries to bring the accounting policies used into line with those used by other members of the
g
roup.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
1.3
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company
and group
ha
ve
adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
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.
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.
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 15 -
1.5
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of
a
business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 15 years.
1.6
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:
Leasehold land and buildings
2% straight line
Plant and equipment
7.5% straight line
Fixtures and fittings
15% straight line
Motor vehicles
20% 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 recognised in the
profit and loss account
.
1.7
Fixed asset investments
I
n the parent company
financial statements,
investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the
group. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.8
Impairment of fixed assets
At each reporting
period
end date, the
group
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).
1.9
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.
1.10
Cash at bank and in hand
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.
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 16 -
1.11
Financial instruments
The group 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 group's
balance sheet
when the group becomes party to the contractual provisions of the instrument.
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
m
ethod 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.
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.
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 group after deducting all of its 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.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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.
1.12
Equity instruments
Equity instruments issued by the group 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 group.
1.13
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.
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.
The
group’s
liability for tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 17 -
1.14
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.
1.15
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.16
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
on a straight line basis.
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
d
asset are consumed.
1.17
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.
Grants received in respect of capital expenditure are amortised on a straight line basis at 7.5% per annum in line with the depreciation policy on the plant and machinery assets to which they relate.
1.18
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.
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 18 -
2
Judgements and key sources of estimation uncertainty
In the application of the group’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.
Stocks provisions
Stocks provision assessments are considered to be a key accounting estimate for which management review the results of regular stock counts in determining the extent to which provisions should be made against slow-moving or obsolete stocks.
Debtor recoverability
Debtor recoverability is considered to be a key accounting estimate for which management continuously monitor customer debt recoveries through credit control procedures and make assessments regarding the extent to which bad debt provisions are considered necessary.
3
Turnover and other revenue
2022
2021
£
£
Turnover analysed by class of business
Manufacture and supply of quality hygiene paper products
42,608,722
28,810,972
2022
2021
£
£
Other significant revenue
Grants received
35,560
35,560
Covid-19 JRS monies receivable
625
110,886
2022
2021
£
£
Turnover analysed by geographical market
United Kingdom
41,604,391
28,030,624
Europe
1,004,331
780,348
42,608,722
28,810,972
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 19 -
4
Operating profit
2022
2021
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange (gains)/losses
(307,774)
130,989
Government grants
(36,185)
(146,446)
Depreciation of owned tangible fixed assets
318,832
247,084
Depreciation of tangible fixed assets held under finance leases
255,381
247,756
Amortisation of intangible assets
12,180
Cost of stocks recognised as an expense
30,680,559
20,218,391
Operating lease charges
168,958
156,459
5
Auditor's remuneration
2022
2021
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
3,000
2,500
Audit of the financial statements of the company's subsidiaries
7,500
5,500
10,500
8,000
6
Employees
The average monthly number of persons (including directors) employed by the group and company during the year was:
Group
Company
2022
2021
2022
2021
Number
Number
Number
Number
Administration
3
3
3
3
Production, sales and marketing
136
132
-
-
Total
139
135
3
3
Their aggregate remuneration comprised:
Group
Company
2022
2021
2022
2021
£
£
£
£
Wages and salaries
2,908,815
2,593,217
Social security costs
246,142
197,219
Pension costs
52,699
42,134
3,207,656
2,832,570
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 20 -
7
Directors' remuneration
2022
2021
£
£
Remuneration for qualifying services
37,891
37,847
Dividends paid to the directors during the year amounted to £877,500 (2021 - £379,500).
8
Interest payable and similar expenses
2022
2021
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
74,955
57,827
9
Taxation
2022
2021
£
£
Current tax
UK corporation tax on profits for the current period
931,243
238,786
Adjustments in respect of prior periods
(58,455)
Total current tax
872,788
238,786
Deferred tax
Origination and reversal of timing differences
423,766
542,825
Total tax charge
1,296,554
781,611
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
9
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:
2022
2021
£
£
Profit before taxation
5,532,112
3,074,613
Expected tax charge based on the standard rate of corporation tax in the UK of 19.00% (2021: 19.00%)
1,051,101
584,176
Tax effect of expenses that are not deductible in determining taxable profit
3,206
86
Effect of change in corporation tax rate
101,703
236,311
Depreciation on assets not qualifying for tax allowances
6,235
6,218
Amortisation on assets not qualifying for tax allowances
2,314
Research and development tax credit
(55,338)
Effect of revaluations of leasehold property
270,579
Other non-reversing timing differences
78
53
Under/(over) provided in prior years
(58,455)
Enhanced capital allowances claimed
(29,311)
(54,303)
Government grant income
6,756
6,756
Taxation charge
1,296,554
781,611
10
Dividends
2022
2021
Recognised as distributions to equity holders:
£
£
Interim paid
877,500
379,500
11
Intangible fixed assets
Group
Goodwill
Negative goodwill
Total
£
£
£
Cost
At 1 October 2021 and 30 September 2022
67,098
(2,310,092)
(2,242,994)
Amortisation and impairment
At 1 October 2021 and 30 September 2022
67,098
(2,310,092)
(2,242,994)
Carrying amount
At 30 September 2022
At 30 September 2021
The company had no intangible fixed assets at 30 September 2022 or 30 September 2021.
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 22 -
12
Tangible fixed assets
Group
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 October 2021
2,113,075
6,276,033
268,176
31,000
8,688,284
Additions
620,910
401,754
46,516
1,069,180
Revaluation
1,641,015
1,641,015
At 30 September 2022
4,375,000
6,677,787
314,692
31,000
11,398,479
Depreciation and impairment
At 1 October 2021
104,134
1,388,862
206,169
4,908
1,704,073
Depreciation charged in the year
49,279
491,519
27,215
6,200
574,213
Revaluation
(153,413)
(153,413)
At 30 September 2022
1,880,381
233,384
11,108
2,124,873
Carrying amount
At 30 September 2022
4,375,000
4,797,406
81,308
19,892
9,273,606
At 30 September 2021
2,008,941
4,887,171
62,007
26,092
6,984,211
Company
Leasehold land and buildings
£
Cost or valuation
At 1 October 2021
2,113,075
Additions
620,910
Revaluation
1,641,015
At 30 September 2022
4,375,000
Depreciation and impairment
At 1 October 2021
104,134
Depreciation charged in the year
49,279
Revaluation
(153,413)
At 30 September 2022
Carrying amount
At 30 September 2022
4,375,000
At 30 September 2021
2,008,941
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
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.
Group
Company
2022
2021
2022
2021
£
£
£
£
Plant and equipment
3,206,828
2,900,148
Land and buildings
includes a valuation
of
£4,375,000 carried out
at
15 September 2022
by
Knight Frank LLP
, independent valuers not connected with the company on the basis of market value
, plus additions subsequent to this date carried at historic cost
. The valuation conform
ed
to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.
Land and buildings are carried at valuation.
If land and buildings were measured using the cost model, the carrying amounts
for the group and company
would
have been approximately £2,384,434 (2021 - £1,810,543), being cost £2,620,632 (2021 - £1,999,722) and depreciation £236,198 (2021 - £189,179).
13
Fixed asset investments
Group
Company
2022
2021
2022
2021
Notes
£
£
£
£
Investments in subsidiaries
14
100
100
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 October 2021 and 30 September 2022
100
Carrying amount
At 30 September 2022
100
At 30 September 2021
100
14
Subsidiaries
Details of the company's subsidiaries at 30 September 2022 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Star Tissue UK Limited
Waterfall Street, Blackburn BB2 2BN
Ordinary
100.00
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 24 -
15
Stocks
Group
Company
2022
2021
2022
2021
£
£
£
£
Raw materials and consumables
5,835,091
1,781,770
Work in progress
32,571
23,740
-
-
Finished goods and goods for resale
1,801,674
800,355
7,669,336
2,605,865
16
Debtors
Group
Company
2022
2021
2022
2021
Amounts falling due within one year:
£
£
£
£
Trade debtors
8,144,587
6,495,453
660,000
Corporation tax recoverable
87,506
Other debtors
1,017,382
1,378,023
300,000
878,543
Prepayments and accrued income
241,709
129,692
9,403,678
8,090,674
960,000
878,543
17
Creditors: amounts falling due within one year
Group
Company
2022
2021
2022
2021
Notes
£
£
£
£
Bank loans and overdrafts
19
1,634,822
29,844
21,648
29,844
Obligations under finance leases
20
471,199
400,603
Trade creditors
5,868,920
4,569,567
2,850
Corporation tax payable
536,410
127,019
1,682
Other taxation and social security
370,415
1,019,576
138,025
-
Other creditors
10,547
8,600
Accruals and deferred income
221,780
691,406
4,501
4,001
9,114,093
6,719,596
294,043
35,527
18
Creditors: amounts falling due after more than one year
Group
Company
2022
2021
2022
2021
Notes
£
£
£
£
Bank loans and overdrafts
19
496,643
516,453
496,643
516,453
Obligations under finance leases
20
1,907,673
1,612,718
Government grants
22
124,152
159,712
2,528,468
2,288,883
496,643
516,453
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
18
Creditors: amounts falling due after more than one year
(Continued)
- 25 -
Amounts included above which fall due after five years are as follows:
Payable by instalments
619,141
707,665
398,612
389,400
19
Loans and overdrafts
Group
Company
2022
2021
2022
2021
£
£
£
£
Bank loans
518,291
546,297
518,291
546,297
Bank overdrafts
1,613,174
2,131,465
546,297
518,291
546,297
Payable within one year
1,634,822
29,844
21,648
29,844
Payable after one year
496,643
516,453
496,643
516,453
The group's bankers, HSBC Bank plc, hold as security fixed and floating charges over all of the group's property and other assets, together with a cross guarantee over all group borrowings.
The group also operates an invoice discounting facility with HSBC Invoice Finance (UK) Limited whereby working capital is provided to the subsidiary company under an agreement to purchase that company's eligible debts, against which fixed and floating charges have been granted over the subsidiary company's assets.
The group bank loan borrowings carry interest payable at a rate of 2.5% over the bank's base rate.
20
Finance lease obligations
Group
Company
2022
2021
2022
2021
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
471,199
400,603
In two to five years
1,687,144
1,294,453
In over five years
220,529
318,265
2,378,872
2,013,321
-
-
Obligations under finance lease and hire purchase agreements are secured by fixed charges on the assets concerned.
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 26 -
21
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
Liabilities
Liabilities
2022
2021
Group
£
£
Accelerated capital allowances
1,052,371
984,630
Revaluations
356,025
-
1,408,396
984,630
Liabilities
Liabilities
2022
2021
Company
£
£
Accelerated capital allowances
36,269
19,343
Revaluations
356,025
-
392,294
19,343
Group
Company
2022
2022
Movements in the year:
£
£
Liability at 1 October 2021
984,630
19,343
Charge to profit or loss
423,766
372,951
Liability at 30 September 2022
1,408,396
392,294
22
Government grants
Group
Company
2022
2021
2022
2021
£
£
£
£
Arising from government grants
124,152
159,712
-
-
Grants have been made available under the Regional Growth Fund to facilitate the acquisition of items of plant and machinery.
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 27 -
23
Retirement benefit schemes
2022
2021
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
52,699
42,134
D
efined contribution pension scheme
s are operated
for all qualifying employees.
The assets of these schemes are held separately from those of the group in independently administered funds.
24
Share capital
Group and company
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of £1 each
40
40
40
40
Ordinary 'B' shares of £1 each
25
25
25
25
Ordinary 'C' shares of £1 each
25
25
25
25
90
90
90
90
25
Operating lease commitments
Lessee
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Group
Company
2022
2021
2022
2021
£
£
£
£
Within one year
436,829
185,952
-
-
Between two and five years
1,622,610
145,534
-
-
In over five years
43,800
-
-
-
2,103,239
331,486
-
-
26
Capital commitments
Amounts contracted for but not provided in the financial statements:
Group
Company
2022
2021
2022
2021
£
£
£
£
Acquisition of tangible fixed assets
124,000
129,343
-
129,343
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 28 -
27
Controlling party
The company is ultimately controlled by the directors by virtue of their shareholdings in the company.
28
Directors' transactions
Advances or credits have been granted by the
group
to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Abid Ditta - Director's loan
-
312,500
120,000
(312,500)
120,000
Khalid Saifullah - Director's loan
-
305,000
90,000
(305,000)
90,000
Sajid Saifullah - Director's loan
-
260,000
90,000
(260,000)
90,000
877,500
300,000
(877,500)
300,000
29
Cash (absorbed by)/generated from group operations
2022
2021
£
£
Profit for the year after tax
4,235,558
2,293,002
Adjustments for:
Taxation charged
1,296,554
781,611
Finance costs
74,955
57,827
Amortisation and impairment of intangible assets
-
12,180
Depreciation and impairment of tangible fixed assets
574,213
494,840
Movements in working capital:
Increase in stocks
(5,063,471)
(825,602)
Increase in debtors
(1,978,010)
(1,945,496)
Increase in creditors
182,513
1,952,910
Decrease in deferred income
(35,560)
(35,560)
Cash (absorbed by)/generated from operations
(713,248)
2,785,712
STAR TISSUE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 29 -
30
Analysis of changes in net funds/(debt) - group
1 October 2021
Cash flows
30 September 2022
£
£
£
Cash at bank and in hand
4,648,675
(455,536)
4,193,139
Bank overdrafts
(1,613,174)
(1,613,174)
4,648,675
(2,068,710)
2,579,965
Borrowings excluding overdrafts
(546,297)
28,006
(518,291)
Obligations under finance leases
(2,013,321)
(365,551)
(2,378,872)
2,089,057
(2,406,255)
(317,198)
2022-09-30
2021-10-01
false
CCH Software
CCH Accounts Production 2022.300
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Khalid Saifullah
Sajid Saifullah
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2022-09-30
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2021-09-30
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2021-09-30
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2021-09-30
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2022-09-30
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2022-09-30
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10071438
core:CapitalRedemptionReserve
2022-09-30
10071438
core:CapitalRedemptionReserve
2021-09-30
10071438
core:RetainedEarningsAccumulatedLosses
2022-09-30
10071438
core:RetainedEarningsAccumulatedLosses
bus:Consolidated
2021-09-30
10071438
core:RetainedEarningsAccumulatedLosses
bus:Consolidated
2022-09-30
10071438
core:RetainedEarningsAccumulatedLosses
2021-09-30
10071438
bus:Consolidated
2020-09-30
10071438
core:Goodwill
2021-10-01
2022-09-30
10071438
core:LandBuildings
core:LongLeaseholdAssets
2021-10-01
2022-09-30
10071438
core:PlantMachinery
2021-10-01
2022-09-30
10071438
core:FurnitureFittings
2021-10-01
2022-09-30
10071438
core:MotorVehicles
2021-10-01
2022-09-30
10071438
core:OwnedAssets
bus:Consolidated
2021-10-01
2022-09-30
10071438
core:OwnedAssets
bus:Consolidated
2020-10-01
2021-09-30
10071438
core:LeasedAssets
bus:Consolidated
2021-10-01
2022-09-30
10071438
core:LeasedAssets
bus:Consolidated
2020-10-01
2021-09-30
10071438
core:UKTax
bus:Consolidated
2021-10-01
2022-09-30
10071438
core:UKTax
bus:Consolidated
2020-10-01
2021-09-30
10071438
bus:Consolidated
1
2021-10-01
2022-09-30
10071438
bus:Consolidated
1
2020-10-01
2021-09-30
10071438
bus:Consolidated
2
2021-10-01
2022-09-30
10071438
bus:Consolidated
2
2020-10-01
2021-09-30
10071438
bus:Consolidated
3
2021-10-01
2022-09-30
10071438
bus:Consolidated
3
2020-10-01
2021-09-30
10071438
bus:Consolidated
4
2021-10-01
2022-09-30
10071438
bus:Consolidated
4
2020-10-01
2021-09-30
10071438
bus:Consolidated
5
2021-10-01
2022-09-30
10071438
bus:Consolidated
5
2020-10-01
2021-09-30
10071438
core:Goodwill
bus:Consolidated
2021-09-30
10071438
core:NegativeGoodwill
bus:Consolidated
2021-09-30
10071438
bus:Consolidated
2021-09-30
10071438
core:Goodwill
bus:Consolidated
2022-09-30
10071438
core:NegativeGoodwill
bus:Consolidated
2022-09-30
10071438
core:Goodwill
bus:Consolidated
2021-09-30
10071438
core:NegativeGoodwill
bus:Consolidated
2021-09-30
10071438
core:LandBuildings
core:LeasedAssetsHeldAsLessee
bus:Consolidated
2021-09-30
10071438
core:PlantMachinery
bus:Consolidated
2021-09-30
10071438
core:FurnitureFittings
bus:Consolidated
2021-09-30
10071438
core:MotorVehicles
bus:Consolidated
2021-09-30
10071438
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2021-09-30
10071438
core:LandBuildings
core:LeasedAssetsHeldAsLessee
bus:Consolidated
2021-10-01
2022-09-30
10071438
core:PlantMachinery
bus:Consolidated
2021-10-01
2022-09-30
10071438
core:FurnitureFittings
bus:Consolidated
2021-10-01
2022-09-30
10071438
core:MotorVehicles
bus:Consolidated
2021-10-01
2022-09-30
10071438
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2021-10-01
2022-09-30
10071438
core:PlantMachinery
2022-09-30
10071438
core:PlantMachinery
2021-09-30
10071438
core:Subsidiary1
2021-10-01
2022-09-30
10071438
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1
2021-10-01
2022-09-30
10071438
core:CurrentFinancialInstruments
2022-09-30
10071438
core:CurrentFinancialInstruments
2021-09-30
10071438
core:CurrentFinancialInstruments
bus:Consolidated
2022-09-30
10071438
core:CurrentFinancialInstruments
bus:Consolidated
2021-09-30
10071438
core:WithinOneYear
bus:Consolidated
2022-09-30
10071438
core:WithinOneYear
bus:Consolidated
2021-09-30
10071438
core:CurrentFinancialInstruments
core:WithinOneYear
2022-09-30
10071438
core:CurrentFinancialInstruments
core:WithinOneYear
2021-09-30
10071438
core:Non-currentFinancialInstruments
core:AfterOneYear
bus:Consolidated
2022-09-30
10071438
core:Non-currentFinancialInstruments
core:AfterOneYear
bus:Consolidated
2021-09-30
10071438
core:Non-currentFinancialInstruments
core:AfterOneYear
2022-09-30
10071438
core:Non-currentFinancialInstruments
core:AfterOneYear
2021-09-30
10071438
core:Non-currentFinancialInstruments
bus:Consolidated
2022-09-30
10071438
core:Non-currentFinancialInstruments
bus:Consolidated
2021-09-30
10071438
core:Non-currentFinancialInstruments
2022-09-30
10071438
core:Non-currentFinancialInstruments
2021-09-30
10071438
core:CurrentFinancialInstruments
core:WithinOneYear
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2022-09-30
10071438
core:CurrentFinancialInstruments
core:WithinOneYear
bus:Consolidated
2021-09-30
10071438
core:WithinOneYear
2022-09-30
10071438
core:WithinOneYear
2021-09-30
10071438
core:BetweenTwoFiveYears
bus:Consolidated
2022-09-30
10071438
core:BetweenTwoFiveYears
bus:Consolidated
2021-09-30
10071438
core:BetweenTwoFiveYears
2022-09-30
10071438
core:BetweenTwoFiveYears
2021-09-30
10071438
core:MoreThanFiveYears
bus:Consolidated
2022-09-30
10071438
core:MoreThanFiveYears
bus:Consolidated
2021-09-30
10071438
core:MoreThanFiveYears
2022-09-30
10071438
core:MoreThanFiveYears
2021-09-30
10071438
bus:PrivateLimitedCompanyLtd
2021-10-01
2022-09-30
10071438
bus:FRS102
2021-10-01
2022-09-30
10071438
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2021-10-01
2022-09-30
10071438
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2021-10-01
2022-09-30
10071438
bus:FullAccounts
2021-10-01
2022-09-30
xbrli:pure
xbrli:shares
iso4217:GBP