Delcon Construction Limited - Limited company accounts 20.1

REGISTERED NUMBER: 02198767 (England and Wales)

Strategic Report,

Report of the Directors and

Audited Financial Statements

for the Year Ended 31 December 2021

for

DELCON CONSTRUCTION LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

Directors:

Mr M A O'Connell

Mr J Dugan

Mr C K Miles

Mr S O’Connell

Mr G O’Connell

Mr R J Williams

Registered office:

University House

11-13 Lower Grosvenor Place

London

SW1W 0EX

Registered number:

02198767 (England and Wales)

Auditors:

Haines Watts

Chartered Accountants and Statutory Auditors

3rd Floor

Marlborough House

298 Regents Park Road

Finchley

London

N3 2SZ

The directors present their strategic report for the year ended 31 December 2021.

Review of business

The Company continues to operate in the business of construction, structural alteration, refurbishment and fit-out for exclusive residential and commercial properties in and around London.

The Company generated turnover of £11.486m (2020: £8.975m) and delivered PBT of £1.284m (2020: £389k).

The Board is pleased with the overall performance of the business. The COVID measures employed by the Company continued to be effective throughout the year in avoiding any COVID related delays to projects or material disruption to our operations. Our supply chain performed strongly during the year and together we have been able to navigate the numerous challenges created by the ongoing market disruption.

We anticipate the market disruption referenced above to continue into 2022 and likely beyond. The Company has introduced the appropriate contractual protections required to mitigate the cost risks created by inflationary pressures and supply chain disruption. We will continue to work with our clients, subcontractors and suppliers to ensure pricing risk is managed effectively.

The Company is anticipating strong performance in 2022 based on our secured work and pipeline of opportunities.

Our balance sheet remains extremely strong which allows the Company to continue to pursue a selective approach to the work we undertake. It is our stated intention to continue undertaking a limited number of exclusive schemes each year at pricing levels that properly reflect the associated risks.

Principal risks and uncertainties

It is the Company's policy to proactively identify, understand and manage the risks inherent in the operation of our business so as to encourage responsible and informed decision making. The Company's exposure to financial risk is mitigated at an early stage of each project as each subcontractor to be employed is subjected to a stringent vetting process and prices are set at the outset of a project and continually monitored throughout for efficacy.

Credit risk exposure is limited as the Company adheres strictly to the contractual terms of each project (generally under JCT standard forms of contract), as the Company's history of limited bad debts has successfully illustrated.

Liquidity risk is also limited as the contract terms of projects carried out by the Company ensure that it receives settlement of its invoices on a regular basis. Allied to this, the Company's policy is to make payments to its subcontractors and suppliers in an expeditious manner.

Cash flow risk is managed on a daily basis via the Company's established procedures of credit management, payment processing and continual financial analysis and reconciliation. During the year, the Company retained its excellent rating with credit reference agencies.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

Mr C K Miles - Director

10 May 2022

The directors present their report with the financial statements of the company for the year ended 31 December 2021.

Principal activity

The principal activity of the company in the year under review was that of high quality construction projects.

Dividends

The total distribution of dividends for the year ended 31 December 2021 will be £ 825,001 .

Future developments

The ongoing global Covid-19 pandemic continues to significantly disrupt the economic environment.

The Company has implemented comprehensive Covid-19 secure protocols for our construction sites and head office. We continue to work closely with our supply chain to manage and mitigate the consequences of this disruption to ensure any impact on our delivery programmes is kept to a minimum. To date we have managed to avoid any Covid related delays to our live work.

The Company's strategy to undertake a small number of exclusive projects remains unchanged.

Directors

The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report.

Mr M A O'Connell

Mr J Dugan

Mr C K Miles

Mr S O’Connell

Mr G O’Connell

Mr R J Williams

Financial risk management objectives & policies

The Company mitigates credit risk through the completion of detailed and thorough monthly valuations for each of our projects. The value of works completed are accurately measured and payments agreed with both our professional client teams and our subcontractors with payments then made/received in accordance with contracted timescales. The Directors consider this to be an essential risk management process.

Individual project reviews are completed on a regular basis to monitor project performance and profitability with corrective action taken by the Directors as required.

The Company employ strict internal control procedures with clearly allocated responsibilities and segregation of key duties. Regular financial reconciliation and reporting is completed on all aspects of the business to ensure compliance and to monitor ongoing performance.

Performance Bonds and other forms of security are obtained from subcontractors in circumstances where the Directors consider it to be necessary.

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), 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 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, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

Mr C K Miles - Director

10 May 2022

Opinion

We have audited the financial statements of Delcon Construction Limited (the 'company') for the year ended 31 December 2021 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 December 2021 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

However, not all future events or conditions can be predicted. The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the company's trade, customers, suppliers and wider economy. The Directors' view on the impact of COVID-19 is disclosed on page 13 within the notes to the financial statements.

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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of 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 else 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 five, 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements.

- Enquiring of management concerning actual and potential litigation and claims.

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Mr Hassan Behcet (Senior Statutory Auditor)

for and on behalf of Haines Watts

Chartered Accountants and Statutory Auditors

3rd Floor

Marlborough House

298 Regents Park Road

Finchley

London

N3 2SZ

26 May 2022

Turnover

11,486,450

8,974,871

Cost of sales

(9,247,807

)

(7,272,937

)

Gross profit

2,238,643

1,701,934

Administrative expenses

(954,861

)

(962,291

)

1,283,782

739,643

Other operating income

150

56,148

Operating profit

5

1,283,932

795,791

Exceptional items

6

-

(409,227

)

1,283,932

386,564

Interest receivable and similar income

391

2,051

Profit before taxation

1,284,323

388,615

Tax on profit

7

(247,364

)

53,574

Profit for the financial year

1,036,959

442,189

Other comprehensive income

-

-

Total comprehensive income for the year

1,036,959

442,189

Fixed assets

Tangible assets

9

7,356

17,876

Current assets

Debtors

10

2,782,928

2,158,054

Investments

11

2,069,640

2,016,736

Cash at bank and in hand

2,591,012

3,353,154

7,443,580

7,527,944

Creditors

Amounts falling due within one year

12

5,786,979

6,095,219

Net current assets

1,656,601

1,432,725

Total assets less current liabilities

1,663,957

1,450,601

Provisions for liabilities

14

1,398

-

Net assets

1,662,559

1,450,601

Capital and reserves

Called up share capital

15

193

193

Share premium

16

12,445

12,445

Capital redemption reserve

16

12

12

Retained earnings

16

1,649,909

1,437,951

Shareholders' funds

1,662,559

1,450,601

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 10 May 2022 and were signed on its behalf by:

Mr M A O'Connell - Director

Mr C K Miles - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2020

193

3,045,755

12,445

12

3,058,405

Changes in equity

Dividends

-

(2,049,993

)

-

-

(2,049,993

)

Total comprehensive income

-

442,189

-

-

442,189

Balance at 31 December 2020

193

1,437,951

12,445

12

1,450,601

Changes in equity

Dividends

-

(825,001

)

-

-

(825,001

)

Total comprehensive income

-

1,036,959

-

-

1,036,959

Balance at 31 December 2021

193

1,649,909

12,445

12

1,662,559

Cash flows from operating activities

Cash generated from operations

1

1,925,958

1,389,370

Tax paid

(103

)

(22,914

)

Net cash from operating activities

1,925,855

1,366,456

Cash flows from investing activities

Purchase of tangible fixed assets

(10,490

)

(23,904

)

Purchase of fixed asset investments

(52,904

)

(31,518

)

Interest received

391

2,051

Net cash from investing activities

(63,003

)

(53,371

)

Cash flows from financing activities

Equity dividends paid

(2,624,994

)

(250,000

)

Net cash from financing activities

(2,624,994

)

(250,000

)

(Decrease)/increase in cash and cash equivalents

(762,142

)

1,063,085

Cash and cash equivalents at beginning of year

2

3,353,154

2,290,069

Cash and cash equivalents at end of year

2

2,591,012

3,353,154

1.	Reconciliation of profit before taxation to cash generated from operations

2021

2020

£

£

Profit before taxation

1,284,323

388,615

Depreciation charges

21,010

15,191

Finance income

(391

)

(2,051

)

1,304,942

401,755

Increase in trade and other debtors

(51,953

)

(445,239

)

Increase in trade and other creditors

672,969

1,432,854

Cash generated from operations

1,925,958

1,389,370

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:

Year ended 31 December 2021

31/12/21

1/1/21

£

£

Cash and cash equivalents

2,591,012

3,353,154

Year ended 31 December 2020

31/12/20

1/1/20

£

£

Cash and cash equivalents

3,353,154

2,290,069

3.	Analysis of changes in net funds

At 1/1/21

Cash flow

At 31/12/21

£

£

£

Net cash

Cash at bank and in hand

3,353,154

(762,142

)

2,591,012

3,353,154

(762,142

)

2,591,012

Total

3,353,154

(762,142

)

2,591,012

1.	Statutory information

Delcon Construction Limited is a company limited by shares incorporated in the United Kingdom operating from University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX. Company Registered number: 02198767.

2.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Key sources of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

In respect of long-term contracts and contracts for on-going services, turnover represents the total value of work done in the year, including estimates of amounts not invoiced is recognised by reference to stage of completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

50% on cost

Fixtures and fittings

-

20% on cost

Government grants

It includes a receipt from the government in regards to a claim for wages through the coronavirus job retention scheme.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and compromise cash in hand and at bank which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 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.

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

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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Investments are measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

3.	Employees and directors

2021

2020

£

£

Wages and salaries

1,755,015

1,511,198

Social security costs

213,844

178,543

Other pension costs

65,587

36,229

2,034,446

1,725,970

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

2021

2020

Admin Staff

9

9

Site Staff

14

13

23

22

4.	Directors' emoluments

2021

2020

£

£

Directors' remuneration

490,666

439,917

Directors' pension contributions to money purchase schemes

10,827

15,599

Information regarding the highest paid director is as follows:

2021

2020

£

£

Emoluments etc

145,000

132,812

Pension contributions to money purchase schemes

8,230

12,862

5.	Operating profit

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

2021

2020

£

£

Other operating leases

68,000

67,577

Depreciation - owned assets

21,010

15,191

Foreign exchange differences

4,786

(2,306

)

Auditors' remuneration

4,250

4,250

6.	Exceptional items

2021

2020

£

£

Exceptional items

-

(409,227

)

The amount relates to EFRBS settlement charge.

7.

Taxation

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

2021

2020

£

£

Current tax:

UK corporation tax

193,885

103

Deferred tax

53,479

(53,677

)

Tax on profit

247,364

(53,574

)

UK corporation tax has been charged at 19% (2020 - 19%).

Reconciliation of total tax charge/(credit) included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2021

2020

£

£

Profit before tax

1,284,323

388,615

Profit multiplied by the standard rate of corporation tax in the UK of 19% (2020 - 19%)

244,021

73,837

Effects of:

Expenses not deductible for tax purposes

7,335

15,227

Capital allowances in excess of depreciation

-

(9,475

)

Depreciation in excess of capital allowances

1,999

-

Utilisation of tax losses

(55,477

)

(134,963

)

Other adjustments

49,486

1,800

Total tax charge/(credit)

247,364

(53,574

)

8.

Dividends

2021

2020

£

£

A Ordinary shares of £1 each

Interim

825,001

2,049,993

9.	Tangible fixed assets

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Cost

At 1 January 2021

6,234

154,091

160,325

Additions

-

10,490

10,490

At 31 December 2021

6,234

164,581

170,815

Depreciation

At 1 January 2021

6,234

136,215

142,449

Charge for year

-

21,010

21,010

At 31 December 2021

6,234

157,225

163,459

Net book value

At 31 December 2021

-

7,356

7,356

At 31 December 2020

-

17,876

17,876

10.

Debtors

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

2,104,220

1,502,055

Amounts recoverable on contract

611,168

446,269

Other debtors

7,389

96,669

Deferred tax asset

-

52,081

Prepayments and accrued income

39,751

40,580

2,762,528

2,137,654

Amounts falling due after more than one year:

Other debtors

20,400

20,400

Aggregate amounts

2,782,928

2,158,054

11.	Current asset investments

2021

2020

£

£

Other

2,069,640

2,016,736