Stourgarden Limited - Limited company accounts 20.1

REGISTERED NUMBER: 03031052 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

FOR

STOURGARDEN LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

8

Consolidated Income Statement

12

Consolidated Other Comprehensive Income

13

Consolidated Balance Sheet

14

Company Balance Sheet

15

Consolidated Statement of Changes in Equity

16

Company Statement of Changes in Equity

17

Consolidated Cash Flow Statement

18

Notes to the Consolidated Cash Flow Statement

19

Notes to the Consolidated Financial Statements

20

DIRECTORS:

W H Rix

J G Rix

G P Rix

S J Rix

SECRETARY:

J L Litherland

REGISTERED OFFICE:

Lodge Farm

Great Horkesley

Colchester

Essex

CO6 4AP

REGISTERED NUMBER:

03031052 (England and Wales)

AUDITORS:

Richard Sexton & Co

Chartered Accountants and Statutory Auditors

3 Manor Road

Colchester

Essex

CO3 3LU

The directors present their strategic report of the company and the group for the year ended 31 July 2021.

REVIEW OF BUSINESS

The group has continued to grow and operate profitably throughout the year under review in spite of ongoing challenges related to COVID-19. Turnover increased by 7.3% from the the previous year to £50,054,001, and the gross margin obtained improved as well, resulting in an increase of gross profits to £6,146,433 (12.3% of turnover), compared with £5,472,987 (11.7% of turnover) in the corresponding period last year.

Net operating costs saw a 4.87% decrease to £4,382,921 (from £4,607,183), and overall this has resulted in an increase of net profit before tax to £1,855,254 (3.71% of turnover) compared with £964,309 (2.07% of turnover) in 2020.

Post tax profits of £1,505,707 have all been transferred to reserves, thus increasing the Shareholders' Funds from £12,126,366 to £13,632,073 . This continues to represent a very healthy position from which the group can continue to grow and trade profitably.

During the year the group has invested a further £602,989 in tangible fixed assets. This reflects the aim of the directors to continually look to expand and modernise in order to maintain the market position of the group. Despite this cash funds of £3,868,464 continue to provide sufficient resources for ongoing trading purposes and to fund ongoing anticipated capital expenditure.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors are aware of the risks and uncertainties inherent in the current economic climate and are constantly striving to mitigate these with a detailed and far reaching business plan. They are aware that more than 50% of turnover is derived from one major customer but strive to ensure that the company is not unduly dependent upon that source of income by developing other potential markets, and this policy has proved highly successful in recent years with the introduction of new customers and product lines.

Health and safety, and environmental considerations are also taken very seriously and are reviewed internally and externally on a regular basis.

SECTION 172(1) STATEMENT

The Board of directors are aware of their duty under Section 172 of the Companies Act 2006 to act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole.

As a family owned company, the Board gives careful consideration to the consequences of any decision in the long term, focusing on flexibility to meet the ever changing consumer need. Particular recognition is also given to the need to act fairly between members of the company.

The interests of the company's employees and the need to foster the company's business relationships with suppliers, customers and others is also prioritised, with continual engagement with wider stakeholder groups forming part of the day to day operations.

Continual re-investment into the most up to date technology ensures that the growth of the business is undertaken in a sustainable manner, with a positive impact from of the company's operations on the community and the environment.

The company's ongoing success has come from the Board's desire to maintain a reputation for high standards of business conduct, and this ethos continues to inform all operational decisions.

STAFF POLICY

Although all four directors are male, the company employs approximately an equal number of male and female staff at all levels, and endeavours to ensure that there is no discrimination on grounds of gender, race or disability.

ON BEHALF OF THE BOARD:

J L Litherland - Secretary

30 March 2022

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of pre-packaging and sale of onions

DIVIDENDS

No dividends will be distributed for the year ended 31 July 2021.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 August 2020 to the date of this report.

W H Rix

J G Rix

G P Rix

S J Rix

FINANCIAL INSTRUMENTS

The company considers itself to have a normal level of exposure to price, credit, liquidity and cash flow risks arising from operating activities.

DISABLED EMPLOYEES

The directors recognise their responsibilities toward giving full and fair consideration to applications for employment to the company made by disabled persons, having regard to their particular aptitudes and abilities.

No discrimination is made in terms of training, careers development and promotion of disabled persons employed by the company.

If employees become disabled, every effort is made for continuing their employment. and for arranging appropriate training.

ENGAGEMENT WITH EMPLOYEES

The directors maintain constant communication with their employees regarding all matters affecting their interests. Regular updates on factors affecting the performance of the company are provided, and feedback encouraged so that employees views can be taken into account. Principal decisions taken during the year considered employee engagement, welfare and performance.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The directors are conscious of the need to foster positive business relationships with suppliers, customers and others to promote the success of the business as a whole. The company has a dedicated grower group, and works hard to source suitable onion growers around the world; building long lasting relationships. Principal decisions made during the year are made made with a focus on flexibility, and the company is well placed to meet the ever changing needs of their customers.

STREAMLINED ENERGY AND CARBON REPORTING

Summary

Total emissions for the year were 915 tonnes of carbon dioxide equivalents (tCO2e) based on a verified usage of 4,179,453 kilowatt-hours (kWh) of energy. Emissions have reduced by 7.7% from the 19/20 baseline reporting year.

The organisation has undertaken 3 energy efficiency actions (EEA) in this reporting year and the intensity ratio has decreased from 39.22 to 31.76 kWh/tonne when compared to the previous reporting year.

Methodology

This report has been compiled in line with the "Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance March 2019".

Boundary

A Financial Control Boundary has been chosen for reporting on Green House Gases (GHGs).

A financial boundary has been chosen to align with the rest of the Director Financial Report.

All sites and companies in the UK have been included in the reporting, even if they do not qualify in their own right.

Reporting Period

This report covers emissions from the period 01 Aug 2020 to 31 Jul 2021. This reporting period has been chosen to match the organisations financial reporting year.

Environmental Impacts

Only environmental impacts from greenhouse gases (GHG) are included in this report/section.

Environmental impacts from waste, water, resource efficiency, ecosystem interaction and none GHG emission are considered separately and are outside the scope of this report.

The report has been limited to scope 1 and scope 2 emissions with scope 3 emissions for grey fleet travel as required by SECR reporting.

Greenhouse Gas Emissions

Table 1 below shows the GHG emissions for Stourgarden in tonnes of carbon dioxide equivalent for the base year of 19/20 and the current reporting year. Total emissions for 20/21 are 915 tonnes of carbon dioxide equivalent. This is 7.7% below the 19/20 baseline year.

The general definitions of the GHG Scopes are detailed below:

Scope 1 - All Direct Emissions from the activities of an organisation or under their control. Including combustion of fuel on site such as gas boilers, purchased fuel for vehicles and air-conditioning leaks.

Scope 2 - Indirect Emissions from electricity purchased and used by the organisation.

Scope 3 - All Other Indirect Emissions from activities of the organisation, occurring from sources that they do not own or control. Only Grey Fleet/employee car mileage claims need including for SECR.

Emission Source

Units

Baseline

Report Year

19/20

20/21

Scope 1

Gaseous Fuel

Emissions (tCO2e)

43.8

65.6

Delivery Vehicles

Emissions (tCO2e)

207.6

290.8

Sub Total

Emissions (tCO2e)

272.4

375.8

Scope 2

Grid Electricity

Emissions (tCO2e)

715.4

536.3

Sub Total

Emissions (tCO2e)

715.4

536.3

Scope 3

Grey Fleet

Emissions (tCO2e)

4.3

3.1

Sub Total

Emissions (tCO2e)

4.3

3.1

TOTAL EMISSIONS

Emissions (tCO2e)

992

915.2

Variance

%

-7.7%

Table 1: Greenhouse Gas Emission (GHG)

Underlying Energy Use

Table 2 below shows the energy use for Stourgarden in kilowatt hours (kWh) for the base year of 19/20 and the current reporting year. Total energy used for 20/21 was 4,179,453 kWh. This is 2.6% below the 19/20 baseline year.

Emission Source

Units

Baseline

Report Year

19/20

20/21

Scope 1

Gaseous Fuel

Energy (kWh)

204,334

305,810

Delivery Vehicles

Energy (kWh)

863,127

1,208,751

Sub Total

Energy (kWh)

1,155,131

1,595,332

Scope 2

Grid Electricity

Energy (kWh)

3,068,455

2,525,883

Renewable Energy

Energy (kWh)

51,151

45,671

Sub Total

Energy (kWh)

3,119,616

2,571,554

Scope 3

Grey Fleet

Energy (kWh)

17,215

12,567

Sub Total

Energy (kWh)

17,215

12,567

TOTAL ENERGY

Energy (kWh)

4,291,961

4,179,453

Variance

%

-2.6%

Table 2: Underlying Energy Use

Intensity Ratios

The tables below show the intensity ratios for the organisation.

Type

Units

Baseline

Report Year

19/20

20/21

Production

kWh/tonne

39.2

31.8

Table 3: Energy Consumption Intensity Ratios

Type

Units

Baseline

Report Year

19/20

20/21

Production

kgCO2e/tonne

9.1

7.0

Table 4: Emissions Intensity Ratios

Energy Efficiency Actions Taken

During the reporting year 2020/21 three energy efficiency action were taken:

Category

Title

Description

Other

Solar Panels

Installation of a new solar PV array on the factory roof.

Lighting

LED Upgrades

Upgrade of factory lights to new more efficient LEDs

Other

Electric Forklift Trucks

Purchase of electric forklifts to replace older LPG forklifts

Table 5: Energy Efficiency Actions Taken

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with section 414C (11) of the Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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.

ON BEHALF OF THE BOARD:

J L Litherland - Secretary

30 March 2022

Opinion

We have audited the financial statements of Stourgarden Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2021 which comprise the Consolidated Income Statement, 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 31 July 2021 and of the group's 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 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.

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 six, 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.

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:

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 engagement partner ensured that the engagement team had the appropriate skills and competencies to identify and recognise non-compliance with applicable laws and regulations;

- laws and regulations applicable to the company were identified through discussions with directors and as well as our wider understanding of the agricultural sector; and

-we assessed the extent of compliance with the laws and regulations identified through making enquiries of management and inspecting legal correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including an understanding of how fraud might occur, by:

- making enquiries of management 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; and

-investigated the rationale behind significant or unusual transactions.

In response to the risks of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-agreeing financial statement disclosures to underlying supporting documentation;

enquiring of management as to actual and potential litigation and claims; and

reviewing correspondence with HMRC, relevant regulators and the company's legal advisers.

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 may involve 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.

Sarah Hamilton (Senior Statutory Auditor)

for and on behalf of Richard Sexton & Co

Chartered Accountants and Statutory Auditors

3 Manor Road

Colchester

Essex

CO3 3LU

30 March 2022

TURNOVER

50,054,001

46,660,941

Cost of sales

43,907,568

41,187,954

GROSS PROFIT

6,146,433

5,472,987

Administrative expenses

4,382,922

4,607,182

1,763,511

865,805

Other operating income

90,413

90,413

OPERATING PROFIT

5

1,853,924

956,218

Interest receivable and similar income

1,330

8,091

PROFIT BEFORE TAXATION

1,855,254

964,309

Tax on profit

6

349,547

189,340

PROFIT FOR THE FINANCIAL YEAR

1,505,707

774,969

Profit attributable to:

Owners of the parent

1,505,707

774,969

PROFIT FOR THE YEAR

1,505,707

774,969

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,505,707

774,969

Total comprehensive income attributable to:

Owners of the parent

1,505,707

774,969

FIXED ASSETS

Tangible assets

8

5,712,716

6,368,560

Investments

9

100

100

Investment property

10

1,982,335

1,982,335

7,695,151

8,350,995

CURRENT ASSETS

Stocks

11

864,982

1,110,183

Debtors

12

6,195,934

5,713,283

Cash at bank

3,868,464

1,405,872

10,929,380

8,229,338

CREDITORS

Amounts falling due within one year

13

4,057,075

3,517,063

NET CURRENT ASSETS

6,872,305

4,712,275

TOTAL ASSETS LESS CURRENT LIABILITIES

14,567,456

13,063,270

PROVISIONS FOR LIABILITIES

14

(310,026

)

(221,134

)

ACCRUALS AND DEFERRED INCOME

15

(625,357

)

(715,770

)

NET ASSETS

13,632,073

12,126,366

CAPITAL AND RESERVES

Called up share capital

16

200

200

Share premium

17

49,800

49,800

Retained earnings

17

13,582,073

12,076,366

SHAREHOLDERS' FUNDS

13,632,073

12,126,366

The financial statements were approved by the Board of Directors and authorised for issue on 30 March 2022 and were signed on its behalf by:

W H Rix - Director

FIXED ASSETS

Tangible assets

8

5,712,716

6,368,560

Investments

9

2,000,101

2,000,101

Investment property

10

-

-

7,712,817

8,368,661

CURRENT ASSETS

Stocks

11

864,982

1,110,183

Debtors

12

6,187,600

5,704,949

Cash at bank

3,692,591

1,254,899

10,745,173

8,070,031

CREDITORS

Amounts falling due within one year

13

4,053,180

3,516,933

NET CURRENT ASSETS

6,691,993

4,553,098

TOTAL ASSETS LESS CURRENT LIABILITIES

14,404,810

12,921,759

PROVISIONS FOR LIABILITIES

14

(310,026

)

(221,134

)

ACCRUALS AND DEFERRED INCOME

15

(625,357

)

(715,770

)

NET ASSETS

13,469,427

11,984,855

CAPITAL AND RESERVES

Called up share capital

16

200

200

Share premium

17

49,800

49,800

Retained earnings

17

13,419,427

11,934,855

SHAREHOLDERS' FUNDS

13,469,427

11,984,855

Company's profit for the financial year

1,484,572

749,569

The financial statements were approved by the Board of Directors and authorised for issue on 30 March 2022 and were signed on its behalf by:

W H Rix - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 28 July 2019

200

11,301,397

49,800

11,351,397

Changes in equity

Total comprehensive income

-

774,969

-

774,969

Balance at 31 July 2020

200

12,076,366

49,800

12,126,366

Changes in equity

Total comprehensive income

-

1,505,707

-

1,505,707

Balance at 31 July 2021

200

13,582,073

49,800

13,632,073

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 28 July 2019

200

11,185,286

49,800

11,235,286

Changes in equity

Total comprehensive income

-

749,569

-

749,569

Balance at 31 July 2020

200

11,934,855

49,800

11,984,855

Changes in equity

Total comprehensive income

-

1,484,572

-

1,484,572

Balance at 31 July 2021

200

13,419,427

49,800

13,469,427

Cash flows from operating activities

Cash generated from operations

1

2,952,546

862,012

Tax paid

4,205

(200,447

)

Net cash from operating activities

2,956,751

661,565

Cash flows from investing activities

Purchase of tangible fixed assets

(602,989

)

(464,938

)

Sale of tangible fixed assets

107,500

53,000

Interest received

1,330

8,091

Net cash from investing activities

(494,159

)

(403,847

)

Increase in cash and cash equivalents

2,462,592

257,718

Cash and cash equivalents at beginning of year

2

1,405,872

1,148,154

Cash and cash equivalents at end of year

2

3,868,464

1,405,872

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

28.7.19

Year Ended

to

31.7.21

31.7.20

£

£

Profit before taxation

1,855,254

964,309

Depreciation charges

1,238,561

1,330,384

Profit on disposal of fixed assets

(87,229

)

(9,214

)

Government grants

(90,413

)

(90,413

)

Finance income

(1,330

)

(8,091

)

2,914,843

2,186,975

Decrease/(increase) in stocks

245,201

(149,831

)

(Increase)/decrease in trade and other debtors

(536,856

)

1,176,469

Increase/(decrease) in trade and other creditors

329,358

(2,351,601

)

Cash generated from operations

2,952,546

862,012

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 July 2021

31.7.21

1.8.20

£

£

Cash and cash equivalents

3,868,464

1,405,872

Period ended 31 July 2020

31.7.20

28.7.19

£

£

Cash and cash equivalents

1,405,872

1,148,154

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.20

Cash flow

At 31.7.21

£

£

£

Net cash

Cash at bank

1,405,872

2,462,592

3,868,464

1,405,872

2,462,592

3,868,464

Total

1,405,872

2,462,592

3,868,464