Live Manage Facilitate Limited - Limited company accounts 23.2

REGISTERED NUMBER: 10006957 (England and Wales)

Strategic Report, Report of the Director and

Financial Statements for the Year Ended 30 November 2023

for

Live Manage Facilitate Limited

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTOR:

Mrs L M Foran

REGISTERED OFFICE:

210 Price Street

Birkenhead

Wirral

CH41 3PS

REGISTERED NUMBER:

10006957 (England and Wales)

AUDITORS:

Douglas Fairless Partnership

Chartered Certified Accountants

and Statutory Auditors

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

The director presents her strategic report for the year ended 30 November 2023.

Live Manage Facilitate Ltd is one of the leading, nationwide installers of Energy Efficient Measures performed under the ECO Scheme (Energy Company Obligation), which is currently the ECO4 scheme.Our business has grown significantly since we were incorporated in 2016. The financial statements to 30/11/22 showed that we had eclipsed the small company reporting limits and further growth in the year to 30/11/23, has meant that we are no longer entitled to small company reporting exemptions and our financial statements to 30/11/23 are subject to statutory audit for the first time.

REVIEW OF BUSINESS

The year to 30/11/23 has been an excellent year for Live Manage Facilitate Ltd, with several key contracts won. This has allowed us to grow the business significantly, creating dozens of new jobs for the local community. Our turnover for the year to 30/11/23 (as shown on page 8) has increased to £47.64million from £20.96million in 2022, which is an increase of 127% year on year.This expansion of our operations has meant we have had to invest significantly in expanding our head office premises. In 2024 we have also set up a new warehouse in Prenton to give us the capacity to service the further planned expansion for the business.

Gross Profit Margins are one of our main key performance indicators, gross margins are monitored closely by management and indicate whether we are delivering our installations in line with our company strategy. Gross profit margins for the 30/11/23 year are at the level we expect to achieve coming in at 35.48%, which is a pleasing return and an increase over the 32.69% achieved in the 30/11/22 year.

Due to achieving our GPM targets, coupled with the significant up lift in revenues and achieving large increases in economies of scale, the 30/11/23 financial statements are showing that we have achieved an impressive net profit margin return of 25.15%, which has increased from 17.48% in 2022. This has resulted in retained earning after taxation and dividends paid to our parent company, increasing to £11.33million as detailed on page 10. This increase in profits and retained earnings has also resulted in our cash flow position showing significant improvements over the excellent results achieved in the 2022 year (as detailed on page 12)).

With contracts already in place for 2024, we expect next years financial statements to show further growth as we concentrate and expand our market position.

PRINCIPAL RISKS AND UNCERTAINTIES

The biggest risk to our business would be the loss of any of our major contracts. As many of our major contracts are paid through our customers accessing government funding, the loss of a contract would only likely occur due to us not achieving our contractual obligations. The controls and processes that we have in place for contract compliance ensure that we always achieve full compliance which mitigates this risk.

The principle uncertainty facing the business is the future of the governments ECO schemes. The current contracts are performed under ECO4 which runs until 31/03/26, therefore there is no guarantee that the business will then continue under current contracts in place under ECO5, which as of now has not had any form of details released. The future of the ECO schemes will of course be subject to political influence given the impending general election, any future government could replace or significantly change the ECO schemes, however this is considered highly unlikely due to the current drive in the UK to achieve net carbon zero. When the ECO5 scheme details are released we will ensure that we put measures in place to ensure that Live Manage Facilitate Ltd remain a key preferred installer in the market place available to the energy companies to deliver their funding obligations under the ECO scheme.

ON BEHALF OF THE BOARD:

Mrs L M Foran - Director

18 April 2024

The director presents her report with the financial statements of the company for the year ended 30 November 2023.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Installation of energy efficient measures.

DIVIDENDS

Interim dividends per share were paid as follows:

£70.00

- 9 December 2022

£85.00

- 31 July 2023

£20.00

- 15 August 2023

£15.10

- 30 September 2023

£190.10

The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 30 November 2023 will be £ 1,901,000 .

DIRECTOR

Mrs L M Foran held office during the whole of the period from 1 December 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless she is 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 director is 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 director is 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 her to ensure that the financial statements comply with the Companies Act 2006. She is 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 director is 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 she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Douglas Fairless Partnership, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs L M Foran - Director

18 April 2024

Opinion

We have audited the financial statements of Live Manage Facilitate Limited (the 'company') for the year ended 30 November 2023 which comprise the Income Statement, Other 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 30 November 2023 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 Director.

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, 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 director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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.

Extent to which the audit was capable of detecting irregularities, including fraud

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.

In identifying and assessing risks of material misstatement in the financial statements in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, the control environment and the impact of business performance on Directors earnings.

- results of our enquiries of management and key finance persons about their own identification and assessment of the risks and irregularities.

- any matters we identified after obtaining and reviewing company policies and procedures relating to; identifying, evaluating and complying with laws and regulations. Detecting and responding to risks of fraud. The internal controls in place to mitigate the risks of fraud or non-compliance with laws and regulations.

From this assessment, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis of our opinion. Our procedures to respond to risks identified included the following:

- 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;

- reading minutes of meetings of those charged with governance, reviewing correspondence with HMRC; and

- in addressing the risk of fraud through management override of controls; we have tested the operational effectiveness of internal controls relevant to the financial statements, tested 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.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

Gregory Newton FCCA (Senior Statutory Auditor)

for and on behalf of Douglas Fairless Partnership

Chartered Certified Accountants

and Statutory Auditors

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

18 April 2024

TURNOVER

3

47,639,197

20,956,990

Cost of sales

30,738,899

14,105,374

GROSS PROFIT

16,900,298

6,851,616

Distribution costs

59,500

22,301

Administrative expenses

4,660,147

3,088,743

4,719,647

3,111,044

OPERATING PROFIT

5

12,180,651

3,740,572

Interest payable and similar expenses

6

195,956

76,504

PROFIT BEFORE TAXATION

11,984,695

3,664,068

Tax on profit

7

2,781,025

692,833

PROFIT FOR THE FINANCIAL YEAR

9,203,670

2,971,235

PROFIT FOR THE YEAR

9,203,670

2,971,235

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

9,203,670

2,971,235

FIXED ASSETS

Tangible assets

9

531,007

376,711

CURRENT ASSETS

Stocks

10

6,771,858

3,827,267

Debtors

11

8,953,837

2,892,279

Cash at bank

2,844,443

2,304,224

18,570,138

9,023,770

CREDITORS

Amounts falling due within one year

12

7,655,646

5,277,921

NET CURRENT ASSETS

10,914,492

3,745,849

TOTAL ASSETS LESS CURRENT LIABILITIES

11,445,499

4,122,560

CREDITORS

Amounts falling due after more than one year

13

-

11,833

PROVISIONS FOR LIABILITIES

16

103,677

71,575

CAPITAL AND RESERVES

Called up share capital

17

10,000

10,000

Retained earnings

18

11,331,822

4,029,152

SHAREHOLDERS' FUNDS

11,341,822

4,039,152

11,445,499

4,122,560

The financial statements were approved by the director and authorised for issue on 18 April 2024 and were signed by:

Mrs L M Foran - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 December 2021

10,000

1,357,917

1,367,917

Changes in equity

Dividends

-

(300,000

)

(300,000

)

Total comprehensive income

-

2,971,235

2,971,235

Balance at 30 November 2022

10,000

4,029,152

4,039,152

Changes in equity

Dividends

-

(1,901,000

)

(1,901,000

)

Total comprehensive income

-

9,203,670

9,203,670

Balance at 30 November 2023

10,000

11,331,822

11,341,822

Cash flows from operating activities

Cash generated from operations

1

3,611,102

2,199,464

Interest paid

(192,143

)

(72,691

)

Interest element of hire purchase payments paid

(3,813

)

(3,813

)

Tax paid

(696,260

)

(86,069

)

Net cash from operating activities

2,718,886

2,036,891

Cash flows from investing activities

Purchase of tangible fixed assets

(256,292

)

(97,381

)

Net cash from investing activities

(256,292

)

(97,381

)

Cash flows from financing activities

Capital repayments in year

(21,375

)

(23,167

)

Amount withdrawn by directors

-

(58

)

Equity dividends paid

(1,901,000

)

(300,000

)

Net cash from financing activities

(1,922,375

)

(323,225

)

Increase in cash and cash equivalents

540,219

1,616,285

Cash and cash equivalents at beginning of year

2

2,304,224

687,939

Cash and cash equivalents at end of year

2

2,844,443

2,304,224

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

30.11.23

30.11.22

£

£

Profit before taxation

11,984,695

3,664,068

Depreciation charges

101,997

115,419

Finance costs

195,956

76,504

12,282,648

3,855,991

Increase in stocks

(2,944,591

)

(2,251,762

)

Increase in trade and other debtors

(6,061,558

)

(1,410,211

)

Increase in trade and other creditors

334,603

2,005,446

Cash generated from operations

3,611,102

2,199,464

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 30 November 2023

30.11.23

1.12.22

£

£

Cash and cash equivalents

2,844,443

2,304,224

Year ended 30 November 2022

30.11.22

1.12.21

£

£

Cash and cash equivalents

2,304,224

687,939

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.22

Cash flow

At 30.11.23

£

£

£

Net cash

Cash at bank and in hand

2,304,224

540,219

2,844,443

2,304,224

540,219

2,844,443

Debt

Finance leases

(35,513

)

21,375

(14,138

)

(35,513

)

21,375

(14,138

)

Total

2,268,711

561,594

2,830,305

1.	STATUTORY INFORMATION

Live Manage Facilitate 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts and of Value Added Tax. The following criteria must also be met before revenue is recognised.

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- The Company has transferred the significant risks and rewards of ownership to the buyer;

- The Company retains neither managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- The amount of revenue can be measured reliably;

- It is probable that the Company will receive the consideration due under the transaction; and

- The costs incurred or to be incurred in respect of the transaction can be measured reliably

Rendering of Services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the percentage stage of completion of the contract when all of the following conditions are satisfied:

The outcome of a transaction can be estimated reliably when all the following conditions are met:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration under the contract;

- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the transaction can be measured reliably.

Tangible fixed assets

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

Short leasehold

-

in accordance with the property

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on reducing balance

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

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock is calculated using the first-in, first-out method and includes purchase, transport and handling costs in bringing stock to their present location and condition.

Work in progress is valued based on the percentage value of works completed to date assessed by qualified quantity surveyors. Work In progress also incudes finished installations that have not yet been approved for invoicing by the customer or are in the approval process.

Taxation

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

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.

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.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

30.11.23

30.11.22

£

£

Services

47,639,197

20,956,990

47,639,197

20,956,990

4.	EMPLOYEES AND DIRECTORS

30.11.23

30.11.22

£

£

Wages and salaries

2,901,259

1,613,989

Social security costs

289,772

150,439

Other pension costs

57,085

32,591

3,248,116

1,797,019

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

30.11.23

30.11.22

Senior Managers

5

2

Direct

19

14

Sales, Design & Admin

18

15

Installations & Operations

13

6

Finance

12

9

Submissions

10

5

77

51

30.11.23

30.11.22

£

£

Director's remuneration

54,704

11,078

5.	OPERATING PROFIT

The operating profit is stated after charging:

30.11.23

30.11.22

£

£

Hire of plant and machinery

80,129

28,036

Direct sales costs

2,761,708

987,739

Depreciation - owned assets

101,996

115,420

Auditors' remuneration

14,000

-

Auditors' remuneration for non audit work

1,900

1,900

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

30.11.23

30.11.22

£

£

Bank interest

25,430

-

Invoice financing charges

166,713

72,691

Hire purchase

3,813

3,813

195,956

76,504

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

30.11.23

30.11.22

£

£

Current tax:

UK corporation tax

2,748,924

696,260

Deferred tax

32,101

(3,427

)

Tax on profit

2,781,025

692,833

Reconciliation of total tax charge 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:

30.11.23

30.11.22

£

£

Profit before tax

11,984,695

3,664,068

Profit multiplied by the standard rate of corporation tax in the UK of 23.011% (2022 - 19%)

2,757,798

696,173

Effects of:

Expenses not deductible for tax purposes

-

2,210

Capital allowances in excess of depreciation

(8,838

)

(2,123

)

Deferred tax movement

32,102

(3,427

)

Group Loss Relief

(37

)

-

Total tax charge

2,781,025

692,833

8.

DIVIDENDS

30.11.23

30.11.22

£

£

Ordinary shares of £1 each

Interim

1,901,000

300,000

9.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 December 2022

-

42,607

286,739

Additions

128,608

2,133

74,649

At 30 November 2023

128,608

44,740

361,388

DEPRECIATION

At 1 December 2022

-

4,494

62,380

Charge for year

12,307

6,546

39,738

At 30 November 2023

12,307

11,040

102,118

NET BOOK VALUE

At 30 November 2023

116,301

33,700

259,270

At 30 November 2022

-

38,113

224,359

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 December 2022

89,655

119,963

538,964

Additions

6,160

44,742

256,292

At 30 November 2023

95,815

164,705

795,256

DEPRECIATION

At 1 December 2022

31,218

64,161

162,253

Charge for year

23,954

19,451

101,996

At 30 November 2023

55,172

83,612

264,249

NET BOOK VALUE

At 30 November 2023

40,643

81,093

531,007

At 30 November 2022

58,437

55,802

376,711

10.

STOCKS

30.11.23

30.11.22

£

£

Stocks

1,071,637

1,109,338

Work-in-progress and finished installations

5,700,221

2,717,929

6,771,858

3,827,267