WatchHouse Coffee Holdings Limited - Limited company accounts 22.3

REGISTERED NUMBER: 10135302 (England and Wales)

WatchHouse Coffee Holdings Limited

Directors' Report and

Consolidated Financial Statements

for the Period 1 August 2021 to 27 July 2022

Page

Company Information

1

Directors' Report

2

Independent Auditors' Report

4

Consolidated Income Statement

7

Consolidated Other Comprehensive Income

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Company Statement of Changes in Equity

12

Notes to the Consolidated Financial Statements

13

Directors:

R Marcelin-Horne

S M Gregg

Edition Capital Directors Ltd

Registered office:

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Registered number:

10135302 (England and Wales)

Auditors:

Haines Watts

Chartered Accountants and Statutory Auditor

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

The directors present their report with the financial statements of the Company and the Group for the period 1 August 2021 to 27 July 2022.

Principal activity

The principal activity of the Group in the period under review was that of Public houses and bars

Dividends

No dividends will be distributed for the period ended 27 July 2022.

Directors

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

R Marcelin-Horne

S M Gregg

Other changes in directors holding office are as follows:

H J Heartfield - resigned 13 January 2022

Edition Capital Directors Ltd - appointed 13 January 2022

R Kiveal ceased to be a director after 27 July 2022 but prior to the date of this report.

Political donations and expenditure

Donations of £1,645 (2021: £3,531) were made during the period, none of which were political in nature.

Statement of directors' responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the Group's auditors are aware of that information.

On behalf of the board:

R Marcelin-Horne - Director

22 March 2023

Opinion

We have audited the financial statements of WatchHouse Coffee Holdings Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the period ended 27 July 2022 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 and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the Group's and of the Parent Company affairs as at 27 July 2022 and of the Group's loss 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 Directors' Report, but does not include the financial statements and our Auditors' Report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Directors' Report has 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 Directors' Report.

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; or

-

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Directors' Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities, 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 an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

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:

We gained an understanding of the legal and regulatory framework applicable to the Group and the industry in which it operates, and considered the risk of acts by the Group that were contrary to applicable laws and regulations, including fraud. We discussed with the directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

During the audit we focused on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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 Auditors' Report.

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 an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Jepson FCCA (Senior Statutory Auditor)

for and on behalf of Haines Watts

Chartered Accountants and Statutory Auditor

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

23 March 2023

Turnover

6,524,813

3,730,809

Cost of sales

(5,601,119

)

(2,909,062

)

Gross profit

923,694

821,747

Administrative expenses

(2,364,720

)

(1,514,649

)

Operating loss

(1,441,026

)

(692,902

)

Interest payable and similar expenses

(89,615

)

(3,229

)

Loss before taxation

4

(1,530,641

)

(696,131

)

Tax on loss

-

-

Loss for the financial period

(1,530,641

)

(696,131

)

Loss attributable to:

Owners of the parent

(1,530,641

)

(696,131

)

Loss for the period

(1,530,641

)

(696,131

)

Other comprehensive income

-

-

Total comprehensive income for the period

(1,530,641

)

(696,131

)

Total comprehensive income attributable to:

Owners of the parent

(1,530,641

)

(696,131

)

Fixed assets

Intangible assets

6

87,609

4,041

Tangible assets

7

3,376,421

2,447,853

Investments

8

-

-

3,464,030

2,451,894

Current assets

Stocks

268,911

112,106

Debtors

9

423,164

405,955

Cash at bank

79,644

62,016

771,719

580,077

Creditors

Amounts falling due within one year

10

2,637,315

1,019,094

Net current liabilities

(1,865,596

)

(439,017

)

Total assets less current liabilities

1,598,434

2,012,877

Creditors

Amounts falling due after more than one year

11

985,451

254,295

Net assets

612,983

1,758,582

Capital and reserves

Called up share capital

2

2

Share premium

3,251,961

2,866,919

Retained earnings

(2,638,980

)

(1,108,339

)

Shareholders' funds

612,983

1,758,582

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 22 March 2023 and were signed on its behalf by:

R Marcelin-Horne - Director

Fixed assets

Intangible assets

6

-

4,041

Tangible assets

7

64,902

19,520

Investments

8

8

8

64,910

23,569

Current assets

Debtors

9

760,452

245,709

Cash at bank

57

710

760,509

246,419

Creditors

Amounts falling due within one year

10

136,362

2,491

Net current assets

624,147

243,928

Total assets less current liabilities

689,057

267,497

Creditors

Amounts falling due after more than one year

11

97,142

-

Net assets

591,915

267,497

Capital and reserves

Called up share capital

2

2

Share premium

3,251,961

2,866,919

Retained earnings

(2,660,048

)

(2,599,424

)

Shareholders' funds

591,915

267,497

Company's loss for the financial year

(60,624

)

(3,321,344

)

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 22 March 2023 and were signed on its behalf by:

R Marcelin-Horne - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 August 2020

2

(412,208

)

2,888,419

2,476,213

Changes in equity

Total comprehensive income

-

(696,131

)

-

(696,131

)

Capital fees

-

-

(21,500

)

(21,500

)

Balance at 31 July 2021

2

(1,108,339

)

2,866,919

1,758,582

Changes in equity

Issue of share capital

-

-

484,226

484,226

Total comprehensive income

-

(1,530,641

)

-

(1,530,641

)

Capital fees

-

-

(99,184

)

(99,184

)

Balance at 27 July 2022

2

(2,638,980

)

3,251,961

612,983

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 August 2020

2

721,920

2,888,419

3,610,341

Changes in equity

Total comprehensive income

-

(3,321,344

)

-

(3,321,344

)

Capital fees

-

-

(21,500

)

(21,500

)

Balance at 31 July 2021

2

(2,599,424

)

2,866,919

267,497

Changes in equity

Issue of share capital

-

-

484,226

484,226

Total comprehensive income

-

(60,624

)

-

(60,624

)

Capital fees

-

-

(99,184

)

(99,184

)

Balance at 27 July 2022

2

(2,660,048

)

3,251,961

591,915

1.	Statutory information

WatchHouse Coffee Holdings Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Set out below is a summary of principal accounting policies, all of which have been consistently applied throughout the period and preceding year (except as otherwise stated).

Basis of consolidation

The Group consolidated financial statements include the financial statements of the Company and all its subsidiary undertakings made up to 27 July 2022.

A subsidiary is an entity controlled by the Group. Control is the power to govern the financial and operating policies of an entity to obtain benefits from its activities.

Any subsidiary undertakings or associates sold or acquired during the period are included up to, or from, the dates of change of control or change of significant influence respectively.

All intra-group transactions, balances, income and expenses are eliminated on consolidation.

Significant judgements and estimates

In applying the Group's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that year, or in the period of the revision and future periods, if the revision affects both current and future years.

Critical accounting judgements and key sources of estimation uncertainty

The critical judgement that the directors have made in the process of applying the Group's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

(i) Assessing indicators and impairment

In assessing whether there have been any indicators or impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial year.

Key sources of estimation uncertainty

The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

(ii) Recoverability of receivables

The Group establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the director considers factors such as the aging of the receivables, and past experience of recoverability.

(iii) Determining residual values and useful economic lives of tangible and intangible assets

The Group depreciates tangible assets and amortises intangible assets over their estimated useful lives. The estimation of the useful lives is based on historical performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes. Judgement is applied by management when determining the residual values for tangible and intangible assets. When determining the residual value management aim to assess the amount that the Group would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts receivable for goods/services provided in the period and is stated net of VAT.

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.

Website development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

Tangible assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less accumulated depreciation and any impairment losses.

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

Short leasehold

-

Straight line over 3 to 10 years

Plant and machinery

-

Straight line over 7 years

Fixtures and fittings

-

Straight line over 3 to 10 years

Motor vehicles

-

Straight line over 4 years

Equipment

-

Straight line over 3 to 5 years

Financial instruments

Financial assets and liabilities are recognised when the Group becomes party to the contractual provisions of the financial instrument. The Group holds financial instruments which comprise cash and cash equivalents, trade and other receivables, trade and other payables, loans and borrowings. The Group has chosen to apply the provisions of FRS102 Section 11 Basic Financial Instruments in full.

Financial assets and liabilities - classified as basic financial instruments

(i) Cash and cash equivalents

This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables

Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the Group assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement.

(iii) Trade and other payables and loans and borrowings

Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, 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 Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to profit or loss over the shorter of estimated useful economic life and the term of the lease.

Finance lease payments are analysed between capital and interest components so that the interest element of the payment is charged to profit or loss over the term of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

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 the Income Statement in the period to which they relate. Employee's pension funds are maintained in a separately administered fund to the Group's own cash and cash equivalents.

Going concern

These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks including an assessment of uncertainty of future trading projection and financing for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Turnover for FY23 has like for like growth of 20.8% across 6 Houses, with the remaining 4 Houses continuing to outperform expectations. There has been at 9% year-on-year improvement on Group EBITDA to the end of December 2022 with each period reporting positive EBITDA (before pre-opening), and forecasting the year end to improve by a further 2.9%. Based on this assessment, budgets and forecasts prepared for the period to July 2026 and additional funding raised post year end, the Group has the appropriate level of support in place.

The WatchHouse group successfully raised £2.8m in September 2022 through a mixture of the online platform CrowdCube and direct investors. The funding will be used to develop and open 3 committed sites during the first half of 2023, with further agreements to open another site agreed in February 2023 and to expand into the US market to be fully funded by capital contributions from landlords. The directors consider that the Group maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations.

In addition, the Group's assets are assessed for recoverability on a regular basis, and the directors consider that the Group is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Group's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

3.	Employees and directors

The average number of employees during the period was 167 (2021 - 94 ) .

The average number of employees by undertakings that were proportionately consolidated during the period was 167 (2021 - 94 ) .

4.	Loss before taxation

The loss is stated after charging:

Period

1/8/21

to

Year ended

27/7/22

31/7/21

£

£

Depreciation - owned assets

554,803

328,135

Website development amortisation

4,041

4,042

5.	Individual income statement

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.

6.	Intangible fixed assets

Group

Website

development

£

Cost

At 1 August 2021

12,125

Additions

87,609

At 27 July 2022

99,734

Amortisation

At 1 August 2021

8,084

Amortisation for period

4,041

At 27 July 2022

12,125

Net book value

At 27 July 2022

87,609

At 31 July 2021

4,041

Website development additions reflect costs incurred in the development of a new website upon which the Group will operate its e-commerce platform. The website remains in development, hence no amortisation has been charged on the additions in the year.

Company

Website

development

£

Cost

At 1 August 2021

and 27 July 2022

12,125

Amortisation

At 1 August 2021

8,084

Amortisation for period

4,041

At 27 July 2022

12,125

Net book value

At 27 July 2022

-

At 31 July 2021

4,041

7.	Tangible fixed assets

Group

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

Cost

At 1 August 2021

1,142,007

334,576

840,778

Additions

644,619

65,377

678,301

Disposals

(43,865

)

-

(14,267

)

Grants

(131,306

)

-

-

At 27 July 2022

1,611,455

399,953

1,504,812

Depreciation

At 1 August 2021

158,256

47,797

230,557

Charge for period

144,028

57,136

124,276

Eliminated on disposal

(3,300

)

-

-

At 27 July 2022

298,984

104,933

354,833

Net book value

At 27 July 2022

1,312,471

295,020

1,149,979

At 31 July 2021

983,751

286,779

610,221

Motor

Computer

vehicles

equipment

Totals

£

£

£

Cost

At 1 August 2021

112,016

698,182

3,127,559

Additions

55,186

226,026

1,669,509

Disposals

-

-

(58,132

)

Grants

-

-

(131,306

)

At 27 July 2022

167,202

924,208

4,607,630

Depreciation

At 1 August 2021

58,205

184,891

679,706

Charge for period

34,177

195,186

554,803

Eliminated on disposal

-

-

(3,300

)

At 27 July 2022

92,382

380,077

1,231,209

Net book value

At 27 July 2022

74,820

544,131

3,376,421

At 31 July 2021

53,811

513,291

2,447,853