Henbury Engineering Limited - Limited company accounts 20.1
Henbury Engineering Limited - Limited company accounts 20.1
| REGISTERED NUMBER: 10633736 (England and Wales) |
| Group Strategic Report, |
| Report of the Directors and |
| Consolidated Financial Statements |
| for the Period 1 April 2020 to 30 September 2020 |
| for |
| Henbury Engineering Limited |
| Henbury Engineering Limited (Registered number: 10633736) |
| Contents of the Consolidated Financial Statements |
| for the Period 1 April 2020 to 30 September 2020 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 |
| Report of the Directors | 4 |
| Report of the Independent Auditors | 6 |
| Consolidated Profit and loss account | 10 |
| Consolidated Other Comprehensive Income | 11 |
| Consolidated Balance Sheet | 12 |
| Company Balance Sheet | 13 |
| Consolidated Statement of Changes in Equity | 14 |
| Company Statement of Changes in Equity | 15 |
| Consolidated Cash Flow Statement | 16 |
| Notes to the Consolidated Cash Flow Statement | 17 |
| Notes to the Consolidated Financial Statements | 19 |
| Henbury Engineering Limited |
| Company Information |
| for the Period 1 April 2020 to 30 September 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| and Statutory Auditors |
| Ebenezer House |
| Ryecroft |
| Newcastle under Lyme |
| Staffordshire |
| ST5 2BE |
| Henbury Engineering Limited (Registered number: 10633736) |
| Group Strategic Report |
| for the Period 1 April 2020 to 30 September 2020 |
| The directors present their strategic report of the company and the group for the period 1 April 2020 to 30 September 2020. |
| REVIEW OF BUSINESS |
| The prior year's investment in automation and the subsequent expansion into new sectors has returned to Newfield Fabrications to operating profit and profit before taxation levels not seen since 2018. |
| Despite the problems surrounding the Covid pandemic, Newfield Fabrications has taken the opportunities presented in the market place and has returned a 6% profit after tax for the period. |
| The turnover has been driven by the introduction of several key customers, operating in markets that were new to Newfield Fabrications including, Medical and Defence. The increased capacity from the investment in capital equipment has allowed the business to offer a shortened lead time and increase its gross profit levels. |
| Newfield Fabrications continues to grow into 2021 and is forecasting even stronger profitability through the coming years. |
| The business continues to invest at a similar level to prior years in Research and Development to further improve the product and process offerings. The alignment of roles and responsibilities in the prior year has allowed the business to make more informed and efficient decisions ultimately driving the profitability in the business forward. |
| Key performance indicators are gross margin, stock turnover, debtors days and operating profit: |
| - Gross margin: 41.4% (2020: 28.9%) |
| - Stock turnover: 56 days (2020: 67 days) |
| - Debtor days: 56 days (2020: 75 days) |
| - Operating profit: 0.44% (2020: loss 13.6%) |
| Henbury Engineering Limited (Registered number: 10633736) |
| Group Strategic Report |
| for the Period 1 April 2020 to 30 September 2020 |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The directors have identified the key risks faced by the group to be market risk, financial risk, credit risk and exchange rate risk. |
| The directors are constantly monitoring both the quality and price of the products it acquires and the range of goods it supplies, to minimise the market risk. |
| The group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. |
| The group's policy throughout the year has been to maintain liquid funds at the bank and avoid incurring overdraft interest whilst also funding the repayment of finance lease and loan obligations. |
| To achieve short term flexibility, the group operates an invoice discounting facility and hire purchase facilities, which means that it is exposed to interest rate risk. |
| Where the group has had to undertake short term borrowings, the company's exposure to interest rate fluctuations on its borrowings is managed by the use of fixed and floating facilities. It is the group's policy to minimise the amount of borrowings at floating rates of interest. |
| The maturity of borrowings is set out in note 15 to the financial statements. |
| The principal credit risk arises from its trade debtors. |
| In order to manage credit risk, the directors set limits for its customers based on a combination of payment history and third party credit references. Where available credit insurance is also taken out. Credit limits are reviewed by the credit controller on a regular basis in conjunction with debt ageing and collection history. |
| During 2020, credit risk exposure was spread over a large number of customers. |
| ON BEHALF OF THE BOARD: |
| 23 April 2021 |
| Henbury Engineering Limited (Registered number: 10633736) |
| Report of the Directors |
| for the Period 1 April 2020 to 30 September 2020 |
| The directors present their report with the financial statements of the company and the group for the period 1 April 2020 to 30 September 2020. |
| PRINCIPAL ACTIVITY |
| The principal activity of the group in the period under review was that of steel fabricators. |
| DIVIDENDS |
| No dividends will be distributed for the period ended 30 September 2020. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 April 2020 to the date of this report. |
| DISCLOSURE IN THE STRATEGIC REPORT |
| Future developments and principal risks and uncertainties are disclosed in the strategic report. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Group 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 the group 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; |
| - | 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information. |
| Henbury Engineering Limited (Registered number: 10633736) |
| Report of the Directors |
| for the Period 1 April 2020 to 30 September 2020 |
| AUDITORS |
| The auditors, Thompson Wright Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| Report of the Independent Auditors to the Members of |
| Henbury Engineering Limited |
| Opinion |
| We have audited the financial statements of Henbury Engineering Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 September 2020 which comprise the Consolidated Profit and loss account, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30 September 2020 and of the group's profit for the period 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 group 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 the 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. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Group 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 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. |
| Report of the Independent Auditors to the Members of |
| Henbury Engineering Limited |
| 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 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 Statement of Directors' Responsibilities set out on page four, 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 group's and 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 group or the parent company or to cease operations, or have no realistic alternative but to do so. |
| Report of the Independent Auditors to the Members of |
| Henbury Engineering Limited |
| 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. |
| Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| The extent to which the audit was considered capable of detecting irregularities including fraud |
| Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
| - the Senior Statutory Auditor ensured that the audit team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
| - we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the metal fabrication and supply sector; |
| - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental, (including Waste Electrical and Electronic Equipment recycling (WEEE) Regulations 2013), other industry specific accreditations and health and safety legislation; |
| - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
| - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
| We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
| - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
| -considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
| To address the risk of fraud through management bias and override of controls, we: |
| - performed analytical procedures to identify any unusual or unexpected relationships; |
| - tested journal entries to identify unusual transactions; |
| -assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |
| -investigated the rationale behind significant or unusual transactions. |
| In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
| Report of the Independent Auditors to the Members of |
| Henbury Engineering Limited |
| -agreeing financial statement disclosures to underlying supporting documentation; |
| -reading the minutes of meetings of those charged with governance; |
| -enquiring of management as to actual and potential litigation and claims; and |
| - reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors. |
| There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
| 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. |
| for and on behalf of |
| Chartered Accountants |
| and Statutory Auditors |
| Ebenezer House |
| Ryecroft |
| Newcastle under Lyme |
| Staffordshire |
| ST5 2BE |
| Henbury Engineering Limited (Registered number: 10633736) |
| Consolidated Profit and loss account |
| for the Period 1 April 2020 to 30 September 2020 |
| Period |
| 1.4.20 |
| to | Year Ended |
| 30.9.20 | 31.3.20 |
| Notes | £ | £ |
| TURNOVER | 4,083,653 | 7,961,812 |
| Cost of sales | 2,393,522 | 5,665,886 |
| GROSS PROFIT | 1,690,131 | 2,295,926 |
| Administrative expenses | 1,453,806 | 2,994,751 |
| OPERATING PROFIT/(LOSS) | 4 | 236,325 | (698,825 | ) |
| Interest receivable and similar income | 1,839 | 47 |
| 238,164 | (698,778 | ) |
| Interest payable and similar expenses | 5 | 165,304 | 331,332 |
| PROFIT/(LOSS) BEFORE TAXATION | 72,860 | (1,030,110 | ) |
| Tax on profit/(loss) | 6 | (225,758 | ) | (480,816 | ) |
| PROFIT/(LOSS) FOR THE FINANCIAL PERIOD | ( |
) |
| Profit/(loss) attributable to: |
| Owners of the parent | 298,618 | (549,294 | ) |
| Henbury Engineering Limited (Registered number: 10633736) |
| Consolidated Other Comprehensive Income |
| for the Period 1 April 2020 to 30 September 2020 |
| Period |
| 1.4.20 |
| to | Year Ended |
| 30.9.20 | 31.3.20 |
| Notes | £ | £ |
| PROFIT/(LOSS) FOR THE PERIOD | 298,618 | (549,294 | ) |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
298,618 |
(549,294 |
) |
| Total comprehensive income attributable to: |
| Owners of the parent | 298,618 | (549,294 | ) |
| Henbury Engineering Limited (Registered number: 10633736) |
| Consolidated Balance Sheet |
| 30 September 2020 |
| 2020 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 8 | (848,003 | ) | (898,013 | ) |
| Tangible assets | 9 | 2,994,151 | 5,354,231 |
| Investments | 10 | - | - |
| 2,146,148 | 4,456,218 |
| CURRENT ASSETS |
| Stocks | 11 | 846,328 | 628,305 |
| Debtors | 12 | 1,919,334 | 2,711,201 |
| Cash at bank and in hand | 215,648 | 154,817 |
| 2,981,310 | 3,494,323 |
| CREDITORS |
| Amounts falling due within one year | 13 | 2,614,854 | 4,274,125 |
| NET CURRENT ASSETS/(LIABILITIES) | 366,456 | (779,802 | ) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 2,512,604 | 3,676,416 |
| CREDITORS |
| Amounts falling due after more than one year |
14 |
(1,971,127 |
) |
(3,433,557 |
) |
| PROVISIONS FOR LIABILITIES | 19 | (155,288 | ) | (155,288 | ) |
| NET ASSETS | 386,189 | 87,571 |
| CAPITAL AND RESERVES |
| Called up share capital | 20 | 150 | 150 |
| Retained earnings | 21 | 386,039 | 87,421 |
| SHAREHOLDERS' FUNDS | 386,189 | 87,571 |
| The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2021 and were signed on its behalf by: |
| J Dudley-Toole - Director |
| Henbury Engineering Limited (Registered number: 10633736) |
| Company Balance Sheet |
| 30 September 2020 |
| 2020 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 8 | - | - |
| Tangible assets | 9 |
| Investments | 10 |
| CURRENT ASSETS |
| Debtors | 12 |
| CREDITORS |
| Amounts falling due within one year | 13 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 20 |
| SHAREHOLDERS' FUNDS |
| Company's profit for the financial year | - | - |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Henbury Engineering Limited (Registered number: 10633736) |
| Consolidated Statement of Changes in Equity |
| for the Period 1 April 2020 to 30 September 2020 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 April 2019 | 150 | 636,715 | 636,865 |
| Changes in equity |
| Total comprehensive income | - | (549,294 | ) | (549,294 | ) |
| Balance at 31 March 2020 | 150 | 87,421 | 87,571 |
| Changes in equity |
| Total comprehensive income | - | 298,618 | 298,618 |
| Balance at 30 September 2020 | 150 | 386,039 | 386,189 |
| Henbury Engineering Limited (Registered number: 10633736) |
| Company Statement of Changes in Equity |
| for the Period 1 April 2020 to 30 September 2020 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 April 2019 |
| Changes in equity |
| Balance at 31 March 2020 |
| Changes in equity |
| Balance at 30 September 2020 |
| Henbury Engineering Limited (Registered number: 10633736) |
| Consolidated Cash Flow Statement |
| for the Period 1 April 2020 to 30 September 2020 |
| Period |
| 1.4.20 |
| to | Year Ended |
| 30.9.20 | 31.3.20 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | (1,779 | ) | 471,256 |
| Interest paid | (96,935 | ) | (219,286 | ) |
| Interest element of hire purchase payments paid |
(68,369 |
) |
(112,046 |
) |
| Tax paid | 1,060,355 | - |
| Net cash from operating activities | 893,272 | 139,924 |
| Cash flows from investing activities |
| Purchase of intangible fixed assets | (220 | ) | - |
| Purchase of tangible fixed assets | (37,273 | ) | (40,597 | ) |
| Sale of tangible fixed assets | 2,111,876 | - |
| Interest received | 1,839 | 47 |
| Net cash from investing activities | 2,076,222 | (40,550 | ) |
| Cash flows from financing activities |
| New loans in year | 250,000 | - |
| Loan repayments in year | (1,589,691 | ) | (185,753 | ) |
| Invoice discounting facility | (769,569 | ) | (630,799 | ) |
| Capital repayments in year | (779,522 | ) | (117,309 | ) |
| Amount withdrawn by directors | (19,881 | ) | - |
| Net cash from financing activities | (2,908,663 | ) | (933,861 | ) |
| Increase/(decrease) in cash and cash equivalents | 60,831 | (834,487 | ) |
| Cash and cash equivalents at beginning of period |
2 |
154,817 |
989,304 |
| Cash and cash equivalents at end of period | 2 | 215,648 | 154,817 |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Cash Flow Statement |
| for the Period 1 April 2020 to 30 September 2020 |
| 1. | RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| Period |
| 1.4.20 |
| to | Year Ended |
| 30.9.20 | 31.3.20 |
| £ | £ |
| Profit/(loss) before taxation | 72,860 | (1,030,110 | ) |
| Depreciation charges | 220,979 | 353,035 |
| Loss on disposal of fixed assets | 14,707 | - |
| Finance costs | 165,304 | 331,332 |
| Finance income | (1,839 | ) | (47 | ) |
| 472,011 | (345,790 | ) |
| (Increase)/decrease in stocks | (218,023 | ) | 146,091 |
| (Increase)/decrease in trade and other debtors | (42,730 | ) | 698,504 |
| Decrease in trade and other creditors | (213,037 | ) | (27,549 | ) |
| Cash generated from operations | (1,779 | ) | 471,256 |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Period ended 30 September 2020 |
| 30.9.20 | 1.4.20 |
| £ | £ |
| Cash and cash equivalents | 215,648 | 154,817 |
| Year ended 31 March 2020 |
| 31.3.20 | 1.4.19 |
| £ | £ |
| Cash and cash equivalents | 154,817 | 989,304 |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Cash Flow Statement |
| for the Period 1 April 2020 to 30 September 2020 |
| 3. | ANALYSIS OF CHANGES IN NET DEBT |
| At 1.4.20 | Cash flow | At 30.9.20 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 154,817 | 60,831 | 215,648 |
| 154,817 | 60,831 | 215,648 |
| Debt |
| Finance leases | (3,099,481 | ) | 779,522 | (2,319,959 | ) |
| Debts falling due within 1 year | (1,526,595 | ) | 933,747 | (592,848 | ) |
| Debts falling due after 1 year | (1,400,803 | ) | 1,175,514 | (225,289 | ) |
| (6,026,879 | ) | 2,888,783 | (3,138,096 | ) |
| Total | (5,872,062 | ) | 2,949,614 | (2,922,448 | ) |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements |
| for the Period 1 April 2020 to 30 September 2020 |
| 1. | STATUTORY INFORMATION |
| Henbury Engineering Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| After making enquiries, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a going concern basis. |
| Basis of consolidation |
| The consolidated financial statements incorporate the financial statements of the company and all subsidiary undertakings, together with the group's shares of the net assets and results of associated undertakings and joint ventures. The financial statements of all group companies are adjusted, where necessary, to ensure the use of consistent accounting policies. Acquisitions are accounted for under the acquisition method. The results of companies acquired or disposed of are included in the group profit and loss account from or up to the date that control passes respectively. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
| Significant judgements and estimates |
| The company makes significant judgements and estimates concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying value of assets and liabilities are detailed below. |
| Impairment of debtors |
| Management makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the progress and stage reached of individual cases. |
| Stock provision |
| The company sells products which are subject to changing customer demands and product degradation. As a result it is necessary to consider the recoverability of the cost of stocks and the associated provisioning necessary. When calculating the stock provision, management considers the nature and condition of the stock as well as reviewing sales and purchase history. |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 any 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 despatch 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 in respect of the transaction can be measured reliably. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
| Computer software - over 2 -15 years |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving stock. |
| Cost compromises 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. |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. |
| (i) Financial assets |
| Basic financial assets, including trade and other debtors, and cash and bank balances are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. |
| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
| (ii) Financial liabilities |
| Basic financial liabilities, including trade and other creditors 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as creditors due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Profit and loss account, 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 period 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. |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| 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 statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability. |
| Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the pattern in which economic benefits from the lease are consumed. |
| Pension costs and other post-retirement benefits |
| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| Period |
| 1.4.20 |
| to | Year Ended |
| 30.9.20 | 31.3.20 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 3. | EMPLOYEES AND DIRECTORS - continued |
| The average number of employees during the period was as follows: |
| Period |
| 1.4.20 |
| to | Year Ended |
| 30.9.20 | 31.3.20 |
| Management and office staff | 26 | 27 |
| Manufacturing staff | 106 | 76 |
| The average number of employees by undertakings that were proportionately consolidated during the period was 132 (2020 - 102 ) . |
| Period |
| 1.4.20 |
| to | Year Ended |
| 30.9.20 | 31.3.20 |
| £ | £ |
| Directors' remuneration |
| Directors' pension contributions to money purchase schemes |
| 4. | OPERATING PROFIT/(LOSS) |
| The operating profit (2020 - operating loss) is stated after charging/(crediting): |
| Period |
| 1.4.20 |
| to | Year Ended |
| 30.9.20 | 31.3.20 |
| £ | £ |
| Hire of plant and machinery |
| Other operating leases |
| Depreciation - owned assets |
| Depreciation - assets on hire purchase contracts |
| Loss on disposal of fixed assets |
| Goodwill amortisation | ( |
) | ( |
) |
| Computer software amortisation |
| Auditors' remuneration |
| Foreign exchange differences | ( |
) | ( |
) |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| Period |
| 1.4.20 |
| to | Year Ended |
| 30.9.20 | 31.3.20 |
| £ | £ |
| Bank loan interest |
| Factor charges & interest |
| Hire purchase |
| Arrangement fees |
| 6. | TAXATION |
| Analysis of the tax credit |
| The tax credit on the profit for the period was as follows: |
| Period |
| 1.4.20 |
| to | Year Ended |
| 30.9.20 | 31.3.20 |
| £ | £ |
| Current tax: |
| UK corporation tax | ( |
) | ( |
) |
| Tax refund in respect of |
| previous years | (15,758 | ) | - |
| Tax on profit/(loss) | ( |
) | ( |
) |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 6. | TAXATION - continued |
| Reconciliation of total tax credit included in profit and loss |
| The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
| Period |
| 1.4.20 |
| to | Year Ended |
| 30.9.20 | 31.3.20 |
| £ | £ |
| Profit/(loss) before tax | ( |
) |
| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of |
( |
) |
| Effects of: |
| Expenses not deductible for tax purposes |
| Income not taxable for tax purposes | ( |
) | ( |
) |
| Adjustments to tax charge in respect of previous periods | ( |
) | ( |
) |
| Unutilsed tax losses carried forward | 117,933 | 118,282 |
| R&D enhanced deduction | (196,190 | ) | (198,647 | ) |
| Deferred tax not provided | (147,941 | ) | (176,296 | ) |
| Total tax credit | (225,758 | ) | (480,816 | ) |
| 7. | INDIVIDUAL PROFIT AND LOSS ACCOUNT |
| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 8. | INTANGIBLE FIXED ASSETS |
| Group |
| Computer |
| Goodwill | software | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2020 | ( |
) | ( |
) |
| Additions |
| At 30 September 2020 | ( |
) | ( |
) |
| AMORTISATION |
| At 1 April 2020 | ( |
) | ( |
) |
| Amortisation for period | ( |
) | ( |
) |
| At 30 September 2020 | ( |
) | ( |
) |
| NET BOOK VALUE |
| At 30 September 2020 | ( |
) | ( |
) |
| At 31 March 2020 | (931,382 | ) | 33,369 | (898,013 | ) |
| 9. | TANGIBLE FIXED ASSETS |
| Group |
| Freehold | Short | Plant and |
| property | leasehold | machinery |
| £ | £ | £ |
| COST |
| At 1 April 2020 | 2,973,021 | - | 7,128,527 |
| Additions | - | 34,527 | - |
| Disposals | (2,973,021 | ) | - | - |
| At 30 September 2020 | - | 34,527 | 7,128,527 |
| DEPRECIATION |
| At 1 April 2020 | 825,705 | - | 4,033,591 |
| Charge for period | 20,733 | - | 232,016 |
| Eliminated on disposal | (846,438 | ) | - | - |
| At 30 September 2020 | - | - | 4,265,607 |
| NET BOOK VALUE |
| At 30 September 2020 | - | 34,527 | 2,862,920 |
| At 31 March 2020 | 2,147,316 | - | 3,094,936 |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 9. | TANGIBLE FIXED ASSETS - continued |
| Group |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2020 | 811,563 | 22,622 | 10,935,733 |
| Additions | 2,746 | - | 37,273 |
| Disposals | - | - | (2,973,021 | ) |
| At 30 September 2020 | 814,309 | 22,622 | 7,999,985 |
| DEPRECIATION |
| At 1 April 2020 | 699,587 | 22,619 | 5,581,502 |
| Charge for period | 18,021 | - | 270,770 |
| Eliminated on disposal | - | - | (846,438 | ) |
| At 30 September 2020 | 717,608 | 22,619 | 5,005,834 |
| NET BOOK VALUE |
| At 30 September 2020 | 96,701 | 3 | 2,994,151 |
| At 31 March 2020 | 111,976 | 3 | 5,354,231 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2020 |
| and 30 September 2020 | 4,476,498 | 10,990 | 4,487,488 |
| DEPRECIATION |
| At 1 April 2020 | 1,639,349 | 10,989 | 1,650,338 |
| Charge for period | 203,135 | - | 203,135 |
| At 30 September 2020 | 1,842,484 | 10,989 | 1,853,473 |
| NET BOOK VALUE |
| At 30 September 2020 | 2,634,014 | 1 | 2,634,015 |
| At 31 March 2020 | 2,837,149 | 1 | 2,837,150 |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 10. | FIXED ASSET INVESTMENTS |
| Company |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2020 |
| and 30 September 2020 |
| NET BOOK VALUE |
| At 30 September 2020 |
| At 31 March 2020 |
| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiaries |
| Registered office: Hall Lane Works, Elton, Sandbach, Cheshire, CW11 3TU |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2020 | 2020 |
| £ | £ |
| Aggregate capital and reserves |
| Profit/(loss) for the period/year | ( |
) |
| Registered office: Hall Lane Works, Elton, Sandbach, Cheshire, CW11 3TU |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2020 | 2020 |
| £ | £ |
| Aggregate capital and reserves |
| Registered office: Hall Lane Works, Elton, Sandbach, Cheshire, CW11 3TU |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2020 | 2020 |
| £ | £ |
| Aggregate capital and reserves |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 10. | FIXED ASSET INVESTMENTS - continued |
| 11. | STOCKS |
| Group |
| 2020 | 2020 |
| £ | £ |
| Stocks | 593,391 | 462,192 |
| Work-in-progress | 252,937 | 166,113 |
| 846,328 | 628,305 |
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2020 | 2020 | 2020 | 2020 |
| £ | £ | £ | £ |
| Trade debtors | 1,240,955 | 1,621,286 |
| Other debtors | 284,273 | 16,199 |
| Tax | 210,000 | 1,044,597 |
| Prepayments | 184,106 | 29,119 |
| 1,919,334 | 2,711,201 |
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2020 | 2020 | 2020 | 2020 |
| £ | £ | £ | £ |
| Bank loans and overdrafts (see note 15) | 24,711 | 188,890 |
| Other loans (see note 15) | 568,137 | 1,337,705 |
| Hire purchase contracts (see note 16) | 574,121 | 1,066,727 |
| Trade creditors | 713,538 | 768,495 |
| Amounts owed to group undertakings | - | - |
| Social security and other taxes | 406,744 | 612,752 |
| Other creditors | - | 160 |
| Directors' current accounts | 101,404 | 121,285 | 101,404 | 121,285 |
| Accrued expenses | 226,199 | 178,111 |
| 2,614,854 | 4,274,125 |
| 14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group |
| 2020 | 2020 |
| £ | £ |
| Bank loans (see note 15) | 225,289 | 1,400,803 |
| Hire purchase contracts (see note 16) | 1,745,838 | 2,032,754 |
| 1,971,127 | 3,433,557 |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 15. | LOANS |
| An analysis of the maturity of loans is given below: |
| Group |
| 2020 | 2020 |
| £ | £ |
| Amounts falling due within one year or on | demand: |
| Bank loans | 24,711 | 188,890 |
| Invoice discounting facility | 568,137 | 1,337,705 |
| 592,848 | 1,526,595 |
| Amounts falling due between one and two | years: |
| Bank loans - 1-2 years | 78,514 | 95,360 |
| Amounts falling due between two and five | years: |
| Bank loans - 2-5 years | 146,775 | 294,903 |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 1,010,540 |
| 16. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Hire purchase contracts |
| 2020 | 2020 |
| £ | £ |
| Net obligations repayable: |
| Within one year | 574,121 | 1,066,727 |
| Between one and five years | 1,638,014 | 1,885,669 |
| In more than five years | 107,824 | 147,085 |
| 2,319,959 | 3,099,481 |
| Group |
| Non-cancellable operating | leases |
| 2020 | 2020 |
| £ | £ |
| Within one year | 178,851 | 7,063 |
| Between one and five years | 1,178,052 | - |
| In more than five years | 2,796,142 | 67,198 |
| 4,153,045 | 74,261 |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 17. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| Group |
| 2020 | 2020 |
| £ | £ |
| Bank loans | 250,000 | 1,589,693 |
| Invoice discounting facility | 568,137 | 1,337,705 |
| Hire purchase contracts | 2,319,959 | 3,099,481 |
| 3,138,096 | 6,026,879 |
| A charge was created on 27th April 1989 by Midland Bank PLC over the book debts of the company securing all monies due or to become due to the chargee. |
| The invoice discounting facility is secured by an all assets debenture created by Close Brothers Limited on 23rd January 2018. |
| The hire purchase liability is secured on the assets financed. |
| At the year end, the amount available for drawdown on the invoice discounting facility was £59,228. |
| The directors together have provided a combined guarantee and indemnity limited to £400,000. |
| 18. | FINANCIAL INSTRUMENTS |
| 2020 | 2019 |
| £ | £ |
| Financial instruments that are debt instruments measured at cost: |
| Trade debtors | 1,621,286 | 2,308,648 |
| Cash at bank and in hand | 154,817 | 989,304 |
| Financial liabilities measured at amortised cost: |
| Bank loans | 1,589,693 | 1,775,446 |
| Invoice discounting facility | 1,337,705 | 1,968,504 |
| Finance leases and hire purchase contracts | 3,099,481 | 1,041,844 |
| Trade creditors | 786,496 | 1,121,137 |
| Directors' current accounts | 121,285 | 121,285 |
| 19. | PROVISIONS FOR LIABILITIES |
| Group |
| 2020 | 2020 |
| £ | £ |
| Deferred tax | 155,288 | 155,288 |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 19. | PROVISIONS FOR LIABILITIES - continued |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2020 | 155,288 |
| Acquired during year |
| Balance at 30 September 2020 | 155,288 |
| 20. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2020 |
| value: | £ | £ |
| A ordinary | £1 | 40 | 40 |
| B ordinary | £1 | 110 | 110 |
| 150 | 150 |
| 21. | RESERVES |
| Group |
| Retained |
| earnings |
| £ |
| At 1 April 2020 | 87,421 |
| Profit for the period | 298,618 |
| At 30 September 2020 | 386,039 |
| Company |
| Retained |
| earnings |
| £ |
| Profit for the period |
| At 30 September 2020 |
| 22. | RELATED PARTY DISCLOSURES |
| Able Commercial Finance Limited |
| A company controlled by Mr P Morgan |
| During the year the company was charged £12,000 (Mar 2020 - £12,000) by Able Commercial Finance Limited. |
| Henbury Engineering Limited (Registered number: 10633736) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2020 to 30 September 2020 |
| 22. | RELATED PARTY DISCLOSURES - continued |
| JF Corporate Advisory Limited |
| A company controlled by Mr J Fowler |
| During the year, the company was charged £24,000 (Mar 2020 - £91,000) by JF Corporate Advisory Limited. |
| P R Morgan |
| 2020 | 2020 |
| £ | £ |
| Amount due to related party at the balance sheet date | 57,008 | 61,365 |
| J Dudley-Toole |
| 2020 | 2020 |
| £ | £ |
| Amount due to related party at the balance sheet date | 23,333 | 29,960 |
| J Fowler |
| 2020 | 2020 |
| £ | £ |
| Amount due to related party at the balance sheet date | 23,333 | 29,960 |
| Manufactured Components Company Limited |
| A company of which Mr J Dudley-Toole is a director and shareholder. |
| Provided goods and services of £48,082 (Mar 2020 - £49,588) |
| 2020 | 2020 |
| £ | £ |
| Amount due from/(to) related party at the balance sheet date | 48,082 | (49,588 | ) |
| 23. | ULTIMATE CONTROLLING PARTY |
| The controlling party is the directors. |