REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements |
for the Year Ended 30 April 2023 |
for |
Bridgehead Container Services Limited |
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements |
for the Year Ended 30 April 2023 |
for |
Bridgehead Container Services Limited |
Bridgehead Container Services Limited (Registered number: 00805695) |
Contents of the Financial Statements |
for the Year Ended 30 April 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 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 |
Bridgehead Container Services Limited |
Company Information |
for the Year Ended 30 April 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Oriel House |
2/8 Oriel Road |
Bootle |
Merseyside |
L20 7EP |
Bridgehead Container Services Limited (Registered number: 00805695) |
Strategic Report |
for the Year Ended 30 April 2023 |
The directors present their strategic report for the year ended 30 April 2023. |
REVIEW OF BUSINESS AND FINANCIAL ANALYSIS |
The Company had another excellent year, operating in favourable market conditions. Turnover increased by over £1 million (18.7%) compared to the previous year due to high utilisation of the container fleet throughout the year. This also helped keep storage costs down, resulting in an increase in operating profit of over £1million. |
The strong rise in the value of the US$ during 2022 was not repeated this year and so reported currency gains were substantially reduced. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The directors meet regularly to discuss the risks facing the Company. The directors consider the key risks to be competitive. |
Our performance is governed by world trade, and any downturn in the market is our principal risk, since this will reduce our fleet utilisation, reducing turnover while simultaneously increasing storage costs. We operate on a global basis, and as such are exposed to geo-political risks in an increasingly uncertain world. However, our geographical markets are diverse, which mitigates the risk of over-exposure in any one specific area. |
Our customer base is similarly diverse, with no over-reliance on any particular customer. As such, our strong Balance Sheet, significant cash reserves and strong insurance cover provide a good defence against potential customer bankruptcies. |
As we operate in USD, we are exposed to exchange rate volatility, which can severely impact reported performance in any given year. This is closely monitored on a daily basis. |
We look forward with confidence to a successful 2023-24. |
ON BEHALF OF THE BOARD: |
Bridgehead Container Services Limited (Registered number: 00805695) |
Report of the Directors |
for the Year Ended 30 April 2023 |
The directors present their report with the financial statements of the company for the year ended 30 April 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of provision of transport equipment and associated services. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2022 to the date of this report. |
FINANCIAL INSTRUMENTS |
The Company manages its exposure to international trading markets and foreign exchange risk by holding significant cash reserves in its principal trading currencies, primarily US dollars. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he 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 company's auditors are aware of that information. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Bridgehead Container Services Limited |
Opinion |
We have audited the financial statements of Bridgehead Container Services Limited (the 'company') for the year ended 30 April 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 April 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 directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Bridgehead Container Services Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- | the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). |
In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: |
- | We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the sector in which it operates. We determined that the following laws and regulations were most significant: |
- | Those which are directly relevant to specific assertions in the financial statements. |
- | Those that relate to reporting frameworks being FRS102, the Companies Act 2006, and the relevant tax compliance regulations. |
- | In addition, we considered other laws and regulations which may be fundamental to the company's ability to operate including complying with regulations as part of our audit procedures which included discussions with management. The regulations the company adhere to are: |
- | International Convention for the Safety of Life at Sea, 1974 |
- | International Organization for Standardization (ISO) |
- | We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management, reviewing any board meeting minutes, and reviewing any legal costs incurred in the year and enquiring with management as to the circumstances around these legal costs. |
- | We assessed the susceptibility of the Company's financial statements to materiality misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included: |
- | identifying the controls that management has in place to prevent and detect fraud; |
- | challenging assumptions and judgements made by management in its significant accounting estimates; |
- | auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business; |
- | assessing the extent of compliance with the relevant laws and regulations. |
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. |
Report of the Independent Auditors to the Members of |
Bridgehead Container Services Limited |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants & Statutory Auditors |
Oriel House |
2/8 Oriel Road |
Bootle |
Merseyside |
L20 7EP |
Bridgehead Container Services Limited (Registered number: 00805695) |
Income Statement |
for the Year Ended 30 April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
4,642,401 | 3,448,681 |
Other operating income |
OPERATING PROFIT | 5 |
Exchange (loss)/gain | 6 |
4,730,231 | 5,698,642 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 7 |
PROFIT FOR THE FINANCIAL YEAR |
Bridgehead Container Services Limited (Registered number: 00805695) |
Other Comprehensive Income |
for the Year Ended 30 April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Bridgehead Container Services Limited (Registered number: 00805695) |
Balance Sheet |
30 April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
CURRENT ASSETS |
Debtors | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 12 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Retained earnings | 14 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bridgehead Container Services Limited (Registered number: 00805695) |
Statement of Changes in Equity |
for the Year Ended 30 April 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 May 2021 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 April 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 April 2023 |
Bridgehead Container Services Limited (Registered number: 00805695) |
Cash Flow Statement |
for the Year Ended 30 April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) |
Cash flows from financing activities |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of year |
2 |
27,298,409 |
Cash and cash equivalents at end of year | 2 | 33,709,304 | 28,419,243 |
Bridgehead Container Services Limited (Registered number: 00805695) |
Notes to the Cash Flow Statement |
for the Year Ended 30 April 2023 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
30.4.23 | 30.4.22 |
£ | £ |
Profit before taxation |
Depreciation charges |
Profit on disposal of fixed assets | ( |
) | ( |
) |
Finance income | (301,360 | ) | (14,381 | ) |
5,096,527 | 6,309,615 |
(Increase)/decrease in trade and other debtors | ( |
) |
Decrease in trade and other creditors | ( |
) | ( |
) |
Cash generated from operations |
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 April 2023 |
30.4.23 | 1.5.22 |
£ | £ |
Cash and cash equivalents | 33,709,304 | 28,419,243 |
Year ended 30 April 2022 |
30.4.22 | 1.5.21 |
£ | £ |
Cash and cash equivalents | 28,419,243 | 27,298,409 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.5.22 | Cash flow | At 30.4.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 28,419,243 | 5,290,061 | 33,709,304 |
28,419,243 | 33,709,304 |
Total | 28,419,243 | 5,290,061 | 33,709,304 |
Bridgehead Container Services Limited (Registered number: 00805695) |
Notes to the Financial Statements |
for the Year Ended 30 April 2023 |
1. | STATUTORY INFORMATION |
Bridgehead Container Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net container rental and associated charges, excluding value added tax. |
Turnover is recognised when the company's right to receive payment is established. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Transport equipment | - over 10 to 15 years, with a 30% residual value. |
Fixtures and fittings | - 15% on cost |
Motor vehicles | - 25% on cost |
Computer equipment | - 20% on cost |
The company have revised their accounting estimate of residual values of transport equipment from 10% to 30% of cost price on a prospective basis for 2021-22. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Bridgehead Container Services Limited (Registered number: 00805695) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
2. | ACCOUNTING POLICIES - continued |
Lessee operating leases |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
Lessor operating leases |
The net book value of assets held for use in operating leases is £28,012,433.98 (2022: £28,537,705). Depreciation charged in the year amounted to £1,419,626.49 (2022: £1,355,957). |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
In the opinion of the directors it would be seriously prejudicial to include details of turnover by geographical area. |
4. | EMPLOYEES AND DIRECTORS |
30.4.23 | 30.4.22 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
30.4.23 | 30.4.22 |
Directors | 3 | 3 |
Administration staff | 7 | 9 |
30.4.23 | 30.4.22 |
£ | £ |
Directors' remuneration |
5. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
30.4.23 | 30.4.22 |
£ | £ |
Other operating leases |
Depreciation - owned assets |
Profit on disposal of fixed assets | ( |
) | ( |
) |
Auditors' remuneration |
6. | EXCEPTIONAL ITEMS |
30.4.23 | 30.4.22 |
£ | £ |
Exchange (loss)/gain |
Bridgehead Container Services Limited (Registered number: 00805695) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
7. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
30.4.23 | 30.4.22 |
£ | £ |
Current tax: |
UK corporation tax |
Under/(over) provision | - | (19,969 | ) |
Total current tax |
Deferred tax |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
30.4.23 | 30.4.22 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2022 - |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) |
Capital allowances in excess of depreciation | ( |
) | ( |
) |
Adjustments to tax charge in respect of previous periods | ( |
) |
Profit on disposal | (269,304 | ) | (145,121 | ) |
Deferred tax charge relating to accelerated capital allowances | 372,768 | 319,440 |
Deferred tax charge relating to change in tax rate | - | 1,359,830 |
Corporation tax charge relating to change in tax rate | (196,003 | ) | - |
Total tax charge | 1,066,976 | 2,423,619 |
8. | DIVIDENDS |
30.4.23 | 30.4.22 |
£ | £ |
Preference shares shares of £1 each |
Interim |
Ordinary B shares of £1 each |
Interim |
Ordinary C share of £1 |
Interim |
Bridgehead Container Services Limited (Registered number: 00805695) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
9. | TANGIBLE FIXED ASSETS |
Fixtures |
Transport | and | Motor | Computer |
equipment | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 May 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Trade debtors |
Other debtors |
Tax |
VAT |
Prepayments |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Intercompany | 50,187 | 24,916 |
Accrued expenses |
12. | PROVISIONS FOR LIABILITIES |
30.4.23 | 30.4.22 |
£ | £ |
Deferred tax | 6,038,727 | 5,665,959 |
Bridgehead Container Services Limited (Registered number: 00805695) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
12. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 May 2022 |
Provided during year |
Balance at 30 April 2023 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.23 | 30.4.22 |
value: | £ | £ |
Preference shares | £1 | 80,000 | 80,000 |
Ordinary B | £1 | 3 | 3 |
Ordinary A | £1 | 99,996 | 99,996 |
Ordinary C | £1 | 1 | 1 |
180,000 | 180,000 |
14. | RESERVES |
Retained |
earnings |
£ |
At 1 May 2022 |
Profit for the year |
Dividends | ( |
) |
At 30 April 2023 |
15. | RELATED PARTY DISCLOSURES |
Related party balances relate to Morbridge International Limited which is under common control. |
30.4.23 | 30.4.22 |
£ | £ |
Sales |
Purchases |
Repayment from related party | 335,308 | 373,006 |
Recharge to related party | 367,618 | 358,000 |
Amount due from related party |
Amount due to related party |
16. | CONTROLLING PARTY |
The controlling party is Mrs J H Marshall. |