Allied Mechanical Services Limited - Limited company accounts 18.2

REGISTERED NUMBER: 01955725 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 March 2019

for

Allied Mechanical Services Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

C D Carter

S Gandy

SECRETARY:

J L Howard

REGISTERED OFFICE:

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

01955725 (England and Wales)

AUDITORS:

Knights Lowe Limited

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

The directors present their strategic report for the year ended 30 March 2019.

REVIEW OF BUSINESS

The results for the year and the financial position of the company are shown in the following financial statements. The

directors consider the state of the company's affairs to be satisfactory.

Turnover has decreased in the year however this was expected due to an exceptionally large contract being completed

in the previous accounting period. This reduced turnover is considered a positive by the directors as the company can

achieve significantly increased efficiency at this turnover level.

This increased efficiency has seen pre-tax profitability of the company increase by 17% to £706,408. Profit margins

have increased as the company has been able to manage contracts more efficiently.

The directors are confident that with continued investment in well qualified, experienced staff they can continue to

fully meet the expectations of customers in the future which will ultimately improve the turnover and continue to

improve profitability of the company going forward.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the company continue to be largely based around the competitive trading

conditions which exist in the industry as well as the industry's reliance on the economic climate. However the directors

are still confident that the company has the ability to continue to trade through difficult market conditions.

The directors have also identified a key risk in relation to going concern and cash flow of the company going forward.

This is explained further in note 1 of the financial statements.

FUTURE DEVELOPMENTS

The directors are confident that the company's financial position will improve going forward as the outlook for the

future year is strong with the aquisition of many new contracts. The directors believe that the company will continue

to grow going forward and build upon its reputation of providing a quality service to customers.

ON BEHALF OF THE BOARD:

C D Carter - Director

23 December 2019

The directors present their report with the financial statements of the company for the year ended 30 March 2019.

DIVIDENDS

Interim dividends per share were paid as follows:

£1.87

- 6 April 2018

£1.87

- 6 July 2018

£1.87

- 6 October 2018

£1.87

- 6 January 2019

£7.47

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 March 2019 will be £ 186,666 .

DIRECTORS

The directors shown below have held office during the whole of the period from 31 March 2018 to the date of this

report.

C D Carter

S Gandy

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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;

-	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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies

Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to

have taken as a director in order to make himself aware of any relevant audit information and to establish that the

company's auditors are aware of that information.

AUDITORS

The auditors, Knights Lowe Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C D Carter - Director

23 December 2019

Opinion

We have audited the financial statements of Allied Mechanical Services Limited (the 'company') for the year ended

30 March 2019 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of

Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The

financial reporting framework that has been applied in their preparation is applicable law and United Kingdom

Accounting Standards, including 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 company's affairs as at 30 March 2019 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.

Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the

financial statements section of our report. We are independent of the 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.

Material uncertainty related to going concern

We draw your attention to note 1 of the financial statements where the directors indicate that a material uncertainty

exists that may cast significant doubt on the company's ability to continue as a going concern, along with further

justification and details of the directors conclusion in relation to going concern. Our opinion is not modified in respect

of this matter

Other information

The directors are responsible for the other information. The other information comprises the information in the

Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the

Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise

explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in

doing so, consider whether the other information is materially inconsistent with the financial statements or our

knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material

inconsistencies or apparent material misstatements, we are required to determine whether there is a material

misstatement in the financial statements or a material misstatement of the other information. If, based on the work

we have performed, we conclude that there is a material misstatement of this other information, we are required to

report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

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 identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to

you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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.

Auditors' 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 a Report of the Auditors that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with

ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and

are considered material if, individually or in the aggregate, they could reasonably be expected to influence the

economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial

Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the

Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those

matters we are required to state to them in a Report of the Auditors 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.

James Knights BSc ACA (Senior Statutory Auditor)

for and on behalf of Knights Lowe Limited

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

23 December 2019

TURNOVER

4

10,478,970

18,676,743

Cost of sales

9,176,972

17,559,822

GROSS PROFIT

1,301,998

1,116,921

Administrative expenses

588,608

509,252

OPERATING PROFIT

6

713,390

607,669

Interest receivable and similar income

167

955

713,557

608,624

Interest payable and similar expenses

7

7,149

6,975

PROFIT BEFORE TAXATION

706,408

601,649

Tax on profit

8

94,288

69,944

PROFIT FOR THE FINANCIAL YEAR

612,120

531,705

PROFIT FOR THE YEAR

612,120

531,705

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

612,120

531,705

FIXED ASSETS

Tangible assets

10

220,842

263,534

CURRENT ASSETS

Debtors

11

6,103,251

6,376,101

Cash at bank

564,979

523,851

6,668,230

6,899,952

CREDITORS

Amounts falling due within one year

12

4,550,527

5,226,228

NET CURRENT ASSETS

2,117,703

1,673,724

TOTAL ASSETS LESS CURRENT LIABILITIES

2,338,545

1,937,258

CREDITORS

Amounts falling due after more than one year

13

(4,665

)

(23,799

)

PROVISIONS FOR LIABILITIES

16

-

(5,033

)

NET ASSETS

2,333,880

1,908,426

CAPITAL AND RESERVES

Called up share capital

17

25,000

25,000

Retained earnings

18

2,308,880

1,883,426

SHAREHOLDERS' FUNDS

2,333,880

1,908,426

The financial statements were approved by the Board of Directors on 23 December 2019 and were signed on its behalf by:

C D Carter - Director

S Gandy - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2017

25,000

1,681,721

1,706,721

Changes in equity

Dividends

-

(330,000

)

(330,000

)

Total comprehensive income

-

531,705

531,705

Balance at 30 March 2018

25,000

1,883,426

1,908,426

Changes in equity

Dividends

-

(186,666

)

(186,666

)

Total comprehensive income

-

612,120

612,120

Balance at 30 March 2019

25,000

2,308,880

2,333,880

1.	GOING CONCERN

As at 30 March 2019 these financial statements contain a balance of £3,882,673 due from Allied Mechanical

Services Holdings Limited, the 100% parent of Allied Mechanical Services Limited. The directors wish to

specifically assess the recoverability of this loan and therefore the effect on the going concern basis of Allied

Mechanical Services Limited. Given the structure of the group, the most appropriate method of assessing this

from a group position is to consider the consolidated balance sheet of Allied Mechanical Services Holdings

Limited, within which the main trading entity is Allied Mechanical Services Limited. This consolidated balance

sheet of the group shows net assets of £834,972 (2018: £537,640) with net current liabilities of £1,360,442

(2018: £1,849,785). The directors have considered the group's position in relation to going concern when

identifying the basis on which the accounts should be prepared. The net current liabilities position means that

the directors have to consider whether the group is able to meet its cash requirements throughout the year to

ensure current liabilities can be paid as they become due. Having reviewed these material uncertainties that

may cause significant doubt on the company's ability to trade as a going concern the directors have concluded

that the group's forecasts and projections, taking into account possible changes in trading performance, show

that the group should be able to operate within the level of its current banking facilities and have a reasonable

expectation that the group has adequate resources to continue in operational existence going forward.

In making this conclusion, and therefore determining the appropriateness of this basis, the directors have

considered the following:

Included within trade creditors of the group are supplier balances relating to old contracts which are currently

in dispute. The dispute in relation to part of this balance is currently at the early stages of court proceedings. As

it is uncertain what the outcome of this dispute will be, the full claim amount has been recognised in creditors

on the balance sheet. The directors are confident in their case and believe the outcome will significantly

improve the group's balance sheet position. Whilst the directors are confident of a positive outcome, the

liabilities are still shown in full in these financial statements as the final outcome is uncertain. In the unlikely

event that the court proceedings were to result in full cash payment becoming due, the groups going concern

position would be determined by the credit terms imposed on the settlement by the supplier or the ability to

obtain external funding at that time. The directors have effectively managed the cash flow of the group for the

past three years during which time cash availability in the group has been restricted due to a change in business

ownership, and during this time the net current liabilities position has improved. The directors have achieved

this through careful cash flow management involving detailed tracking of customer receipts as well as managing

supplier payments/credit terms to ensure available cash is maintained so liabilities can be paid as they fall due.

This careful management of cash flow is a focus of the directors who are confident that they can continue to

manage this cash flow going forward to maintain the group's ability to trade. The cash flow statement shows

that the group generated £504,632 from operation in the period to 31 March 2019 as well as £297,332 of

retained profits. This result has been achieved by the directors even with the cash restraints of the group. This

strong performance is set to continue with over £6million of contracts already scheduled to be completed in

the next 12 months from the approval date of this report. The directors also have a further £6.2million of future

contract works that are in the final stages of negotiation. The directors believe that this flow of future income

will provide adequate operating cash inflows to sustain the cash requirements of the group for the foreseeable

future. Contract cash flows will be individually managed to ensure cash surplus is maintained throughout the

life of the contract and therefore maintain positive cash movements going forward.

After considering the above points the directors conclude the going concern basis is the appropriate basis for

these financial statements. Although the directors do accept there is uncertainty of the future cash flows of the

group they are confident that cash and creditors can be managed in such a way as to sustain the group's ability

to trade and allow the group to clear its net liability position over time through retained profit generation.

2.	STATUTORY INFORMATION

Allied Mechanical Services Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial

statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of Section 33 Related Party Disclosures paragraph 33.7.

Preparation of consolidated financial statements

The financial statements contain information about Allied Mechanical Services Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company is

exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial

statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial

statements of its parent, Allied Mechanical Services Holdings Limited, Eldo House, Kempson Way, Bury St.

Edmunds, Suffolk, IP32 7AR.

Allied Mechanical Services Limited meets the definition of a qualifying entity under FRS 102 and has therefore

taken advantage of the disclosure exemptions available to it in respect of its separate financial statements.

Exemptions have been taken in relation to financial instruments, presentation of a cash flow statement and

remuneration of key management personnel.

Significant judgements and estimates

In the application of the Company's accounting policies, which are described below, the directors are required

to make judgements, estimates and assumptions about the carrying amounts 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 estimated and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates

are recognised in the period in which the estimate is revised if revision affects only that and future periods.

The following are critical judgements including those involving estimations, that the directors have made in the

process of applying the Company's accounting policies and that have the most significant effect on the amounts

recognised in the financial statements.

Profitability of ongoing contracts

The expected profit margin of ongoing contracts is used to determine the value of accrued costs in the year end

financial statements. The directors evaluate each contract individually and estimate the margin expected on

completion of the contract. This estimate is made using the directors knowledge of the contracts and detailed

records of each element of the contract.

Turnover

Income is recognised on construction contracts in line with the work completed on the contract. Expected

profit margins on the completion of contracts are used to accrue for expected future costs on the contract.

Therefore profit is only recognised on a contract in line with the work completed to date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Motor vehicles

-

4 years straight line and 3 years straight line

Computer equipment

-

4 years straight line and 2 years straight line

Freehold property has not been depreciated as it is wholly made up of land. Land is not considered to

depreciate over time and is therefore held at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately

from those of the company in a independently administered fund. The pension cost charge represents

contributions payable by the company to the fund and payments made to other personal pension funds.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but

excluding investment properties, are assessed to determine whether there is an indication that the carrying

amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is

an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use

and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is

lower, the carrying amount of the asset is written down to its estimated recoverable amount and an

impairment loss is recognised in the income statement.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other

related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value

of the future payments and subsequently at amortised cost using the effective interest method. Debt

instruments that are payable or receivable within one year, typically trade payables or receivables, are

measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected

to be paid or received. However if the arrangements of a short-term instrument constitute a financing

transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of

interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset

or liability is measured, initially and subsequently, at the present value of the future payment discounted at a

market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original

effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any

impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference

between an asset's carrying amount and best estimate, which is an approximation of the amount that the

company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

All turnover of the business is generated through construction contracts based in the United Kingdom.

5.	EMPLOYEES AND DIRECTORS

Period

1.4.17

Year Ended

to

30.3.19

30.3.18

£

£

Wages and salaries

1,375,671

1,589,387

The average number of employees during the year was as follows:

Period

1.4.17

Year Ended

to

30.3.19

30.3.18

Employees

53

59

Period

1.4.17

Year Ended

to

30.3.19

30.3.18

£

£

Directors' remuneration

-

238,141

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

-

4

6.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period

1.4.17

Year Ended

to

30.3.19

30.3.18

£

£

Hire of plant and machinery

141,906

235,221

Depreciation - owned assets

30,936

39,426

Depreciation - assets on hire purchase contracts

21,120

17,621

Profit on disposal of fixed assets

(833

)

(5,361

)

Auditors' remuneration

18,000

10,570

Remuneration paid to auditor for non-audit services

-

2,000

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.4.17

Year Ended

to

30.3.19

30.3.18

£

£

Bank charges

4,536

4,962

Corporation tax interest

131

-

Hire purchase interest

2,482

2,013

7,149

6,975

8.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

Period

1.4.17

Year Ended

to

30.3.19

30.3.18

£

£

Current tax:

UK corporation tax

142,127

103,121

Prior Period Adj

(42,806

)

(38,210

)

Total current tax

99,321

64,911

Deferred tax

(5,033

)

5,033

Tax on profit

94,288

69,944

UK corporation tax has been charged at 19% (2018 - 19%).

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is

explained below:

Period

1.4.17

Year Ended

to

30.3.19

30.3.18

£

£

Profit before tax

706,408

601,649

Profit multiplied by the standard rate of corporation tax in the UK of 19% (2018 - 19%)

134,218

114,313

Effects of:

Expenses not deductible for tax purposes

2,147

3,874

Depreciation in excess of capital allowances

5,920

3,567

Group Relief

-

(17,614

)

Prior year R&D Claim

(42,806

)

(38,210

)

Deferred Tax

(5,033

)

5,033

Profit/(Loss) on disposal of fixed assets

(158

)

(1,019

)

Total tax charge

94,288

69,944

9.

DIVIDENDS

Period

1.4.17

Year Ended

to

30.3.19

30.3.18

£

£

Ordinary shares shares of £1 each

Interim

186,666

330,000