ACCOUNTS - Final Accounts
ACCOUNTS - Final Accounts
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Registered number:
FOR THE YEAR ENDED 31 OCTOBER 2019
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HOUSTON COX CENTRAL LIMITED
COMPANY INFORMATION
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HOUSTON COX CENTRAL LIMITED
CONTENTS
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HOUSTON COX CENTRAL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2019
The directors present their strategic report for the year ended 31 October 2019.
Principal activities The principal activity of the company is that of joinery contracting. We operate mainly in London and the South of England, providing construction services to the commercial, residential, education, health and leisure sectors.
The company had another successful year, achieving a turnover of £29.4m (2018: £35.6m). The directors are also pleased with the profit after tax of £1.7m (2018: £3.0m). The reduced turnover and profit in the year had been previously anticipated as the exceptional volume of work that was secured during 2015 came to an end during 2018.
The company traded well in the early months of 2020, with turnover for the year expected to increase to around £35m. However the outbreak of the COVID-19 pandemic has had a significant impact on our construction projects. Most projects ceased work for a short period of time before resuming, albeit at a reduced pace of work. This has meant that some of the turnover and profit originally forecast for 2020 will now slip into 2021. We now expect the turnover for 2020 to be a little lower than 2019, with a similar level of profit. The UK government's Coronavirus Job Retention Scheme has helped to mitigate the financial impact of the pandemic on the company and its employees, and we expect to trade profitably throughout the period of slowdown, and to continue to maintain a healthy cash balance. As the Coronavirus slowdown eases, the volume of secured work and quality of current tender opportunities with our blue chip clients gives us confidence that the turnover level will increase again, and that the company will be well placed for 2021 and beyond.
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HOUSTON COX CENTRAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2019
The principal risks for the company include the following:
The housing market As a significant proportion of our work is in the residential sector, then the health of the housing market, particularly in London, can have a significant influence on the business. However we continually seek to utilise our skills across all sectors in order to mitigate the potential risks of a future downturn in any one sector. Credit risk The company’s credit risks are mainly attributable to the amounts receivable from our clients for contract work carried out. Our policy remains to retain a good mix of long standing blue chip clients, to operate an efficient financial and management reporting system that monitors our clients and our debtor book on a day to day basis. Our team The continued success of the company is dependent on retaining skilled and experienced management, tradesmen and support staff. Our employment policy is designed to attract, train, reward and retain the best people. COVID-19 Construction activity is currently significantly reduced due to COVID-19 and it is difficult to predict the length and extent of the current slowdown. The directors are satisfied that with good financial and operational management the company will continue throughout the slowdown to trade profitably and to maintain its healthy cash position.
The key financial highlights for the company for the last four years are as follows:
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HOUSTON COX CENTRAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2019
Our primary goal is to have industry leading occupational health and safety performance, which ultimately means an injury and incident free workplace. Our accident statistics are summarised in the table below:
2019 2018 £000's £000’s Accident-book entries 8 10 RIDDOR accidents 0 1 AFR 0.00 0.19 Near miss incidends 6 4 Average workforce 273 283 Hours worked 515,120 533,400 As can be seen, the AFR rate in 2019 was at 0.00 due to no reportable injuries sustained. There have been examples of outstanding health & safety performance across the business which has been driven by a clear focus on improving our contractor engagement efforts. We have continuously been recognised by our clients as a top performing H&S contractor including winning not only monthly awards but also the quarterly sustained H&S performance award at the Fulham Reach project. During this period, we have also seen the following programmes and systems mature with a corresponding improvement in our site conditions: • Better planning and preparation through H&S/Ops collaboration in risk reviews and RAMS development • Better workforce engagement through o Safety stand downs & mini safety campaigns – i.e. beat the drop o A re design and issue of our bespoke Tool Box Talks • Improved support of supervision • Less stress from client commercial & programme requirements We have invested significantly in upskilling our workforce academically including our Management teams. All Project Managers have now successfully completed L6 NVQ Diploma in Construction Contracting Operations Management. Additionally, all Contract Directors have completed or are currently undertaking the L7 NVQ Diploma in Construction Senior Management. During the reporting period we have maintained our accreditation for our CPC certified IMS – incorporating ISO 9001, 14001 & OHSAS 18001 H&S Management system. The business took a systematic approach with a key focus on protecting the health of our management teams and operatives during the COVID-19 pandemic. We worked (and are still working) closely with our clients to allow operations to continue where it is safe to do so. The governments guidelines and the procedures laid down by the Construction Leadership Council (CLC) have been used to carefully produce control measures which have been introduced as part of our amended risk assessment process. This has been produced not only for onsite operations but also the office working environment.
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HOUSTON COX CENTRAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2019
The financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the rolling monthly reforecast of future cash flows, taking due account of the impact of events in making their assessment. The COVID-19 pandemic and the ensuing economic shutdown has had a significant impact on the company’s operations. The turnover during the period of slowdown is lower than would otherwise have been the case, as some project turnover and profit slips into subsequent periods. In response to the COVID-19 pandemic, the Directors have performed a robust analysis of forecast future cash flows taking into account the potential impact on the business of possible future scenarios arising from the impact of COVID-19. This analysis also considers the effectiveness of available measures to assist in mitigating the impact. The company therefore expects to continue to trade profitably during this period, whilst maintaining a healthy cash balance.
Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts.
This report was approved by the board and signed on its behalf.
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HOUSTON COX CENTRAL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2019
The directors present their report and the financial statements for the year ended 31 October 2019.
The directors are responsible for preparing the Strategic Report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the company's financial statements and then apply them consistently;
∙make judgments 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 to 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.
The profit for the year, after taxation, amounted to £1,847,131 (2018 - £3,044,641).
A dividend of £2,600,000 (2018: £1,070,000) was paid in the year and £900,000 was declared and paid post year end.
The directors who served during the year were:
The company seeks to minimise adverse impacts on the environment from its activities, whilst continuing to address health, safety and economic issues. The company has complied with all applicable legislation and regulations.
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HOUSTON COX CENTRAL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2019
The company is focussed on securing profitable work and continuing to increase its market share by expanding its customer base.
The company continues to look for ways to improve its efficiency both operationally and financially with the support of its fellow subsidiaries, through its research and development activities.
Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
There have been no significant events affecting the company since the year end.
The auditors, MHA MacIntyre Hudson, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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HOUSTON COX CENTRAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS, AS A BODY, OF HOUSTON COX CENTRAL LIMITED
We have audited the financial statements of Houston Cox Central Limited (the 'company') for the year ended 31 October 2019, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, 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:
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 United Kingdom, including the Financial Reporting Council'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.
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
∙the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
∙the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
The directors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
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HOUSTON COX CENTRAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS, AS A BODY, OF HOUSTON COX CENTRAL LIMITED (CONTINUED)
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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report 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.
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 Directors' Report.
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:
As explained more fully in the Directors' Responsibilities Statement on page 5, 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.
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HOUSTON COX CENTRAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS, AS A BODY, OF HOUSTON COX CENTRAL LIMITED (CONTINUED)
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 Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' 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.
for and on behalf of
Chartered Accountants and Statutory Auditors
6th Floor
2 London Wall Place
EC2Y 5AU
Date:
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HOUSTON COX CENTRAL LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2019
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HOUSTON COX CENTRAL LIMITED
REGISTERED NUMBER: 05149872
BALANCE SHEET
AS AT 31 OCTOBER 2019
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 25 form part of these financial statements.
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HOUSTON COX CENTRAL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2019
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
Houston Cox Central Limited is a private company limited by shares incorporated in England and Wales in the United Kingdom. The address of the registered office is given in the company information on the front pages of these financial statements. The nature of the company's operations and principal activities are that of carpentry contracting and fit out contracting.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements have been prepared in pounds sterling, the functional currency, rounded to the nearest £1.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11.41(c), 11.41(e), 11.41(f), 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Morrisroe Group Limited as at 31 October 2019 and these financial statements may be obtained from Companies House.
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of Comprehensive Income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
2.Accounting policies (continued)
Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.
Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, 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
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
2.Accounting policies (continued)
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 the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured:
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 of the recoverable amount, 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.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Termination benefits are recognised when employment is terminated by the company before the
normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for termination benefits and may be made in other exceptional circumstances. Where employees are informed of redundancies by the balance sheet date, provisions are included in the financial statements.
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
In the application of the company's accounting policies, which are described above, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below: Fixed Assets Judgments have been made in relation to the lives of tangible assets in particular the useful economic life and residual values of plant and machinery. The directors have concluded that the asset values and residual values are appropriate. Amounts recoverable on contracts Amounts recoverable on contracts for on-going services are valued at the amount expected to be recovered at the balance sheet date, with detailed post year end analysis undertaken to ensure the fair value of this accrued income. The directors have concluded that the amounts recognised in the financial statements are appropriate for the amounts recoverable on such contracts.
The turnover and profit before tax are attributable to the one principal activity of the company.
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
11.Taxation (continued)
There were no factors that may affect future tax charges.
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
Capital redemption reserve
Profit and loss account
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £110,573 (2018: £79,022). Contributions totalling £26,467 (2018: £19,096) were payable to the fund at the balance sheet date and are included in creditors.
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HOUSTON COX CENTRAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
The immediate parent undertaking is Houston Cox Limited, a company registered in England and Wales.
The ultimate parent undertaking is Morrisroe Group Limited, a company registered in England and Wales.
The ultimate controlling interest is held by B Morrisroe by virtue of his 100% shareholding in Morrisroe Group Limited.
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