Company Registration No. 05851593 (England and Wales)
ONE ASSET LIMITED
DIRECTOR'S REPORT AND UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
ONE ASSET LIMITED
COMPANY INFORMATION
Directors
Mr N Smith
Mrs C L Smith
Mr J A Kamani
Company number
05851593
Registered office
225a Bristol Road
Birmingham
B5 7UB
Accountants
Edwards
34 High Street
Aldridge
Walsall
West Midlands
WS9 8LZ
Business address
225a Bristol Road
Birmingham
B5 7UB
ONE ASSET LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Accountants' report
4
Profit and loss account
5
Group statement of comprehensive income
6
Group balance sheet
7 - 8
Company balance sheet
9 - 10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 31
ONE ASSET LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 1 -
The directors present the strategic report for the year ended 31 December 2021.
Fair review of the business
The company is engaged in the licencing of intellectual property and the development of an LED Media estate for the purpose of selling and advertising. The subsidiary companies, Booh Media PLC, Buyers & Sellers Media PLC and EDM Contracts Limited are engaged in the sale of advertising space and equipment sales. The subsidiary companies One Experiential Limited and Elonex Outdoor Media Limited are engaged in the sale and hire of digital display hardware. The subsidiary companies BH Sunglasses Limited and 2.0 International Limited are engaged in the sale of sunglasses and clothing respectively. The associate company, Fischen Medical Limited is engaged in the sale of E-liquids and associated hardware. The associate companies WeDooh Limited and Elonex Alliance Limited are engaged in that of media owner.
The group profit and loss account is set out on page 5 and shows a group turnover for the year of £5,306,188 (2020 - £4,795,061) and profit before taxation for the year of £411,590 (2020 - loss before taxation £461,700).
The directors have conducted a comprehensive review of the development and performance of the business during the year and its position at the year end. The review considers the size and non-complex nature of the business and the risks and uncertainties faced.
One Asset Limited is in an agreement with Booh Media PLC for Booh Media PLC to sell the advertising on the boards owned by One Asset Limited in return for 50% of the revenue.
There have been no events since the statement of financial position date which materially affect the position of the company and group.
Principal risks and uncertainties
The market for advertising continues to evolve. In particular, the advertising spend of mid-sized businesses is being diverted to internet search strategies and away from local press. This often means that awareness of companies locally is more difficult to achieve because many channels such as TV advertising are too expensive. Advertising at sports venues and roadside is one of the few channels open to mid-sized businesses to raise awareness in their local markets.
The group monitors cash flow as part of its control procedures. The directors consider cash flow projections on a monthly basis and ensure that appropriate facilities are available to be drawn upon as necessary.
Based upon the activity levels forecast, the directors consider that the group will be able to maintain its cash at bank resources through the period that is twelve months from the date of approval of these financial statements.
Therefore, after making the enquiries that they consider necessary, the directors have a reasonable expectation that the group has adequate funding resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.
Key performance indicators
Management measure performance against key targets noted in the budget and forecasts. These include delivery specific milestones for the project i.e. equipment build, completion and cash burn. The main key performance indicators also include turnover and profit/loss levels.
ONE ASSET LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
Mr N Smith
Director
7 July 2022
ONE ASSET LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
The directors present their annual report and financial statements for the year ended 31 December 2021.
Results and dividends
The results for the year are set out on page 5.
The company declared a interim dividend of £91,649 to N Smith and C L Smith, directors, who are also the shareholders of the company.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr N Smith
Mrs C L Smith
Mr J A Kamani
Other matters
On 11 March 2020, the World Health Organisation officially declared COVID-19, the disease caused by novel coronavirus, a pandemic. Management is closely monitoring the evolution of this pandemic, including how it may affect the company, the economy and the general population. We have an appropriate response plan in place, and we will continue to monitor and assess the ongoing development and respond accordingly.
Going concern
In our capacity as directors, we are required to consider the group’s and company’s going concern status on an ongoing basis and at the time we approve and sign off our financial statements, considering a period of no less than 12 months from the date of approval. In making this assessment, we have prepared detailed forecasts for the group and company for the period to 31 December 2022. These forecasts have been based on the income and profits expected to be generated for the remainder of 2022.
We are therefore satisfied that they have made appropriate enquiries, considered all the available information and assessed the group’s and company’s current and forecast trading situation in the going concern assessment. As a result, in our capacity as directors, we have at the time of signing the financial statements have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and accordingly have continued to adopt the going concern basis in preparing the financial statements.
On behalf of the board
Mr N Smith
Director
7 July 2022
ONE ASSET LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ONE ASSET LIMITED FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of One Asset Limited for the year ended 31 December 2021 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which
are detailed
at
https://www.icaew.com/regulation
This report is made solely to the Board of Directors of One Asset Limited, as a body, in accordance with the terms of our engagement letter dated 25 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of One Asset Limited
and state those matters that we have agreed to state to the Board of Directors of One Asset Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than One Asset Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that One Asset Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and loss of One Asset Limited. You consider that One Asset Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of One Asset Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Edwards
8 July 2022
Chartered Accountants
34 High Street
Aldridge
Walsall
West Midlands
WS9 8LZ
ONE ASSET LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
2021
2020
Notes
£
£
Turnover
3
5,306,188
4,795,061
Cost of sales
(3,143,814)
(3,450,273)
Gross profit
2,162,374
1,344,788
Administrative expenses
(1,847,943)
(2,096,426)
Other operating income
219,145
312,472
Operating profit/(loss)
4
533,576
(439,166)
Interest payable and similar expenses
7
(59,211)
(22,534)
Amounts written off investments
8
(62,775)
Profit/(loss) before taxation
411,590
(461,700)
Tax on profit/(loss)
9
(32,000)
74,191
Profit/(loss) for the financial year
379,590
(387,509)
Profit/(loss) for the financial year is attributable to:
- Owners of the parent company
340,150
(393,828)
- Non-controlling interests
39,440
6,319
379,590
(387,509)
ONE ASSET LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
2021
2020
£
£
Profit/(loss) for the year
379,590
(387,509)
Other comprehensive income
-
-
Total comprehensive income for the year
379,590
(387,509)
Total comprehensive income for the year is attributable to:
- Owners of the parent company
340,150
(393,828)
- Non-controlling interests
39,440
6,319
379,590
(387,509)
ONE ASSET LIMITED
GROUP BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 7 -
2021
2020
Notes
£
£
£
£
Fixed assets
Goodwill
11
5,615
21,128
Other intangible assets
11
62,623
Total intangible assets
68,238
21,128
Tangible assets
12
2,245,341
1,608,456
Investments
13
37,775
550
2,351,354
1,630,134
Current assets
Stocks
16
890,903
1,133,522
Debtors
17
1,801,037
1,394,014
Cash at bank and in hand
1,892,509
2,534,101
4,584,449
5,061,637
Creditors: amounts falling due within one year
18
(3,387,714)
(3,202,956)
Net current assets
1,196,735
1,858,681
Total assets less current liabilities
3,548,089
3,488,815
Creditors: amounts falling due after more than one year
19
(1,165,130)
(1,340,881)
Provisions for liabilities
Deferred tax liability
22
97,000
65,000
(97,000)
(65,000)
Net assets
2,285,959
2,082,934
Capital and reserves
Called up share capital
24
110
110
Profit and loss reserves
2,136,205
1,972,620
Equity attributable to owners of the parent company
2,136,315
1,972,730
Non-controlling interests
149,644
110,204
2,285,959
2,082,934
For the financial year ended 31 December 2021 the
group
was entitled to exemption from audit under section
477
of the Companies Act 2006
.
ONE ASSET LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 8 -
Directors' responsibilities
under the Companies Act 2006
:
-
The members have not required the
company
to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act
with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to
groups and
companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 7 July 2022 and are signed on its behalf by:
07 July 2022
Mr N Smith
Director
ONE ASSET LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2021
31 December 2021
- 9 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
12
1,570,044
1,132,549
Investments
13
100,935
100,785
1,670,979
1,233,334
Current assets
Stocks
16
780,407
1,133,522
Debtors
17
851,752
779,107
Cash at bank and in hand
561,659
97,182
2,193,818
2,009,811
Creditors: amounts falling due within one year
18
(1,805,291)
(1,119,732)
Net current assets
388,527
890,079
Total assets less current liabilities
2,059,506
2,123,413
Creditors: amounts falling due after more than one year
19
(217,311)
(324,091)
Net assets
1,842,195
1,799,322
Capital and reserves
Called up share capital
24
110
110
Profit and loss reserves
1,842,085
1,799,212
Total equity
1,842,195
1,799,322
As permitted by s408 Companies Act 2006, the
c
ompany has not presented its own profit and loss account and related notes. The
c
ompany’s profit for the year was £134,521 (2020 - £36,522 loss).
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
ONE ASSET LIMITED
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021
31 December 2021
- 10 -
The financial statements were approved by the board of directors and authorised for issue on 7 July 2022 and are signed on its behalf by:
07 July 2022
Mr N Smith
Director
Company Registration No. 05851593
ONE ASSET LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021
- 11 -
Share capital
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
Balance at 1 January 2020
110
2,505,534
2,505,644
103,885
2,609,529
Year ended 31 December 2020:
Loss and total comprehensive income for the year
-
(393,828)
(393,828)
6,319
(387,509)
Dividends
10
-
(139,086)
(139,086)
-
(139,086)
Balance at 31 December 2020
110
1,972,620
1,972,730
110,204
2,082,934
Year ended 31 December 2021:
Profit and total comprehensive income for the year
-
340,150
340,150
39,440
379,590
Dividends
10
-
(176,565)
(176,565)
-
(176,565)
Balance at 31 December 2021
110
2,136,205
2,136,315
149,644
2,285,959
ONE ASSET LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2020
110
1,917,202
1,917,312
Year ended 31 December 2020:
Loss and total comprehensive income for the year
-
(36,522)
(36,522)
Dividends
10
-
(81,468)
(81,468)
Balance at 31 December 2020
110
1,799,212
1,799,322
Year ended 31 December 2021:
Profit and total comprehensive income for the year
-
134,522
134,522
Dividends
10
-
(91,649)
(91,649)
Balance at 31 December 2021
110
1,842,085
1,842,195
ONE ASSET LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 13 -
2021
2020
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
27
310,780
981,482
Interest paid
(59,211)
(22,534)
Income taxes paid
(31,829)
(125,075)
Net cash inflow from operating activities
219,740
833,873
Investing activities
Purchase of intangible assets
(62,623)
-
Purchase of tangible fixed assets
(1,038,326)
(165,561)
Proceeds on disposal of tangible fixed assets
854,775
35,830
Purchase of investments
(100,000)
-
Net cash used in investing activities
(346,174)
(129,731)
Financing activities
Proceeds of new bank loans
-
1,429,650
Repayment of bank loans
(110,946)
(52,660)
Payment of finance leases obligations
(227,647)
(15,979)
Dividends paid to equity shareholders
(176,565)
(139,086)
Net cash (used in)/generated from financing activities
(515,158)
1,221,925
Net (decrease)/increase in cash and cash equivalents
(641,592)
1,926,067
Cash and cash equivalents at beginning of year
2,534,101
608,034
Cash and cash equivalents at end of year
1,892,509
2,534,101
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 14 -
1
Accounting policies
Company information
One Asset Limited (“the company”)
is a
private
limited company domiciled and incorporated in
England and Wales
.
The registered office is
225a Bristol Road, Birmingham, B5 7UB.
The group consists of One Asset Limited and all of its subsidiaries.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The group financial statements (the “Group”) consolidate the financial statements of One Asset Limited (the “Company”) and its subsidiary undertakings except for three associates, which are under section 405 of the Companies Act 2006, are not material for the purpose of giving a true and fair view, for the year ended 31 December 2021. The consolidation has been carried out using the acquisition method of accounting. The results of the subsidiary undertakings are included from the date of acquisition.
The Company has taken advantage of section 408 of the Companies Act 2006 and has not included its own income statement in these financial statements.
1.2
Business combinations
In the parent company
financial statements, t
he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date.
Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date.
I
nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.
Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 15 -
1.3
Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company
One Asset Limited
together with
all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates
.
All
financial statements
are made up to 31 December 2021
.
Where necessary, adjustments are made to the
financial statements
of subsidiaries to bring the accounting policies used into line with those used by other members of the
g
roup.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.
Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.
If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.
Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.
1.4
Going concern
These financial statements are prepared on a going concern basis.
The directors have prepared detailed forecasts for the group and the company for the period to 31 December 2022. These forecasts have been based on the income and profits expected to be generated for the remainder of 2022.
As part of their going concern assessment, the directors have considered the forecasts carefully and also considered the ability of the group and company to manage its working capital requirements in order to be able to meet its liabilities as they fall due.
The directors are therefore satisfied that they have made appropriate enquiries, considered all the available information and assessed the group’s and company’s current and forecast trading situation in their going concern assessment. As a result, directors have at the time of signing the financial statements have a reasonable expectation that the group and company has adequate resources to continue in operational existence for the foreseeable future and accordingly have continued to adopt the going concern basis in preparing the financial statements.
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 16 -
1.5
Turnover
Revenue generated from advertising contracts is credited to the profit and loss account in line with the sale contract and the relevant sporting season.
Revenue from the sales of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amounts of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will follow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.6
Intangible fixed assets - goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the consolidated profit and loss account over its estimated economic life of 10 years.
1.7
Intangible fixed assets other than goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the consolidated profit and loss account over its estimated economic life of 10 years.
1.8
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
10% straight line
Leasehold property
10% straight line
Plant and equipment
25% reducing balance/10% straight line
Fixtures, fittings and equipment
25% reducing balance
Motor vehicles
25% - 33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the
profit and loss account
.
1.9
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The associate has been accounted for under the cost model.
Entities in which the
group
has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 17 -
1.10
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.11
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.12
Financial instruments
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's
balance sheet
when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
m
ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those
held
at
fair value through profit and loss
, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 18 -
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including
creditors
, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
1.13
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
group’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset
if, and only if, there is
a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.14
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is committed to terminate the employment of an employee or to provide termination benefits.
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 19 -
1.15
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss
so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.16
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred
. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
1.17
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
1.18
Deferred income
When advertising income relates to periods outside the financial year, deferred and accrued income is calculated accordingly and is included in creditors or debtors.
1.19
Research and development
Research and development expenditure is written off against profits in the year in which it is incurred.
2
Judgements and key sources of estimation uncertainty
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Turnover and other revenue
Turnover is wholly attributable to the principal activity of the group and arose within the United Kingdom.
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 20 -
4
Operating profit/(loss)
2021
2020
£
£
Operating profit/(loss) for the year is stated after charging/(crediting):
Exchange differences apart from those arising on financial instruments measured at fair value through profit or loss
(12,280)
(4,791)
Government grants
(215,809)
(312,472)
Depreciation of owned tangible fixed assets
230,923
192,958
Depreciation of tangible fixed assets held under finance leases
17,323
22,248
(Profit)/loss on disposal of tangible fixed assets
(260,771)
651
Amortisation of intangible assets
15,513
15,513
Operating lease charges
26,588
38,539
5
Employees
The average monthly number of persons (including directors) employed by the group and company during the year was:
Group
Company
2021
2020
2021
2020
Number
Number
Number
Number
Administration and sales
16
12
4
5
25
26
-
-
Total
41
38
4
5
Their aggregate remuneration comprised:
Group
Company
2021
2020
2021
2020
£
£
£
£
Wages and salaries
726,487
694,642
47,077
48,734
Social security costs
76,672
61,765
8,902
4,204
Pension costs
162,970
11,727
617
434
966,129
768,134
56,596
53,372
6
Directors' remuneration
2021
2020
£
£
Remuneration for qualifying services
24,734
24,211
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 21 -
7
Interest payable and similar expenses
2021
2020
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
3,580
Other finance costs:
Interest on finance leases and hire purchase contracts
7,253
2,819
Interest on bank loan
51,958
16,135
Total finance costs
59,211
22,534
8
Amounts written off investments
2021
2020
£
£
Amounts written off investments held at fair value
(62,725)
-
Other gains and losses
(50)
-
(62,775)
9
Taxation
2021
2020
£
£
Current tax
Adjustments in respect of prior periods
(25,521)
Deferred tax
Origination and reversal of timing differences
32,000
(48,670)
Total tax charge/(credit)
32,000
(74,191)
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
9
Taxation
(Continued)
- 22 -
The actual charge/(credit) for the year can be reconciled to the expected charge/(credit) for the year based on the profit or loss and the standard rate of tax as follows:
2021
2020
£
£
Profit/(loss) before taxation
411,590
(461,700)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 19.00% (2020: 19.00%)
78,202
(87,723)
Tax effect of expenses that are not deductible in determining taxable profit
45,566
5,722
Tax effect of income not taxable in determining taxable profit
(69,399)
Unutilised tax losses carried forward
131,693
93,248
Group relief
(36,883)
Permanent capital allowances in excess of depreciation
(120,215)
(11,247)
Under/(over) provided in prior years
(25,521)
Deferred tax
32,000
(48,670)
Brought forward losses used
(28,964)
Taxation charge/(credit)
32,000
(74,191)
10
Dividends
2021
2020
Recognised as distributions to equity holders:
£
£
Company
Interim dividend paid
91,649
81,468
Group
Interim dividend paid
176,565
139,086
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 23 -
11
Intangible fixed assets
Group
Goodwill
Patents & licences
Website build
Total
£
£
£
£
Cost
At 1 January 2021
155,132
155,132
Additions
26,623
36,000
62,623
At 31 December 2021
155,132
26,623
36,000
217,755
Amortisation and impairment
At 1 January 2021
134,004
134,004
Amortisation charged for the year
15,513
15,513
At 31 December 2021
149,517
149,517
Carrying amount
At 31 December 2021
5,615
26,623
36,000
68,238
At 31 December 2020
21,128
21,128
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 24 -
12
Tangible fixed assets
Group
Freehold land and buildings
Leasehold property
Plant and equipment
Fixtures, fittings and equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 January 2021
222,862
458,620
199,889
1,836,070
156,181
2,873,622
Additions
683,663
895
346,546
448,031
1,479,135
Disposals
(6,965)
(55,846)
(464,457)
(134,278)
(661,546)
At 31 December 2021
683,663
215,897
402,774
200,784
1,718,159
469,934
3,691,211
Depreciation and impairment
At 1 January 2021
63,522
169,334
180,296
791,373
60,641
1,265,166
Depreciation charged in the year
22,286
64,705
12,315
125,040
23,900
248,246
Eliminated in respect of disposals
(697)
(46,876)
(1,459)
(18,510)
(67,542)
At 31 December 2021
85,111
187,163
192,611
914,954
66,031
1,445,870
Carrying amount
At 31 December 2021
683,663
130,786
215,611
8,173
803,205
403,903
2,245,341
At 31 December 2020
159,340
289,286
19,593
1,044,697
95,540
1,608,456
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 25 -
Company
Freehold land and buildings
Plant and equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 January 2021
46,839
1,885,386
1,932,225
Additions
683,663
346,546
1,030,209
Disposals
(462,990)
(462,990)
At 31 December 2021
683,663
46,839
1,768,942
2,499,444
Depreciation and impairment
At 1 January 2021
4,684
794,992
799,676
Depreciation charged in the year
4,684
125,040
129,724
At 31 December 2021
9,368
920,032
929,400
Carrying amount
At 31 December 2021
683,663
37,471
848,910
1,570,044
At 31 December 2020
42,155
1,090,394
1,132,549
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
Group
Company
2021
2020
2021
2020
£
£
£
£
Motor vehicles
376,344
66,742
Computer equipment
3,822
5,705
380,166
72,447
-
-
13
Fixed asset investments
Group
Company
2021
2020
2021
2020
Notes
£
£
£
£
Investments in subsidiaries
14
100,435
100,235
Investments in associates
15
500
550
500
550
Listed investments
37,275
37,775
550
100,935
100,785
Fixed asset investments revalued
Fixed asset investments include listed investments with an historic cost of £100,000 (2020: £Nil).
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
13
Fixed asset investments
(Continued)
- 26 -
Movements in fixed asset investments
Group
Shares in associates
Other investments
Total
£
£
£
Cost or valuation
At 1 January 2021
550
-
550
Additions
-
100,000
100,000
Valuation changes
-
(62,725)
(62,725)
Disposals
(50)
-
(50)
At 31 December 2021
500
37,275
37,775
Carrying amount
At 31 December 2021
500
37,275
37,775
At 31 December 2020
550
-
550
Movements in fixed asset investments
Company
Shares in subsidiaries and associates
£
Cost or valuation
At 1 January 2021
100,785
Additions
200
Disposals
(50)
At 31 December 2021
100,935
Carrying amount
At 31 December 2021
100,935
At 31 December 2020
100,785
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 27 -
14
Subsidiaries
Details of the company's subsidiaries at 31 December 2021 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Booh Media PLC
England
Ordinary
100.00
Buyers & Sellers Media PLC
England
Ordinary
99.95
EDM Contracts Limited
England
Ordinary
60.00
One Experiential Limited
England
Ordinary
80.00
Elonex Outdoor Media Limited
England
Ordinary
80.00
2.0 International Limited
England
Ordinary
100.00
BH Sunglasses Limited
England
Ordinary
100.00
All subsidiary companies have the following registered office 225a Bristol Road, Birmingham. B5 7UB.
15
Associates
Details of associates at 31 December 2021 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Fischen Medical Limited
England
Ordinary
40
WeDooh Limited
England
Ordinary
50
16
Stocks
Group
Company
2021
2020
2021
2020
£
£
£
£
Finished goods and goods for resale
890,903
1,133,522
780,407
1,133,522
17
Debtors
Group
Company
2021
2020
2021
2020
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,546,473
851,728
27,142
60,358
Amounts owed by group undertakings
-
-
795,238
561,036
Amounts owed by undertakings in which the company has a participating interest
1,230
163,178
-
135,199
Accrued income
182,597
155,046
-
-
Other debtors
29,501
199,293
19,039
12,181
Prepayments
41,236
24,769
10,333
10,333
1,801,037
1,394,014
851,752
779,107
All amounts shown under debtors fall due for payment within one year.
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 28 -
18
Creditors: amounts falling due within one year
Group
Company
2021
2020
2021
2020
Notes
£
£
£
£
Bank loans
20
298,446
102,612
98,446
69,279
Obligations under finance leases
21
107,162
25,029
Trade creditors
1,084,646
513,734
129,980
8,540
Amounts owed to group undertakings
1,110,573
189,985
Corporation tax payable
31,829
14,101
Other taxation and social security
236,030
495,123
147
155,406
Other creditors
7,545
108,953
1,776
101,872
Accruals and deferred income
1,653,885
1,925,676
464,369
580,549
3,387,714
3,202,956
1,805,291
1,119,732
Bank loans outstanding under the Coronavirus Business Interruption Loan scheme total £1,282,424 (2020: £1,393,370). No repayments or interest were due for a period of one year, after which interest is charged at 3.99% above base rate and repayments are due over a period of five years.
Bank loans and overdrafts are secured by a debenture comprising of fixed and floating charges over all assets of the group.
19
Creditors: amounts falling due after more than one year
Group
Company
2021
2020
2021
2020
Notes
£
£
£
£
Bank loans and overdrafts
20
983,978
1,290,758
217,311
324,091
Obligations under finance leases
21
181,152
50,123
1,165,130
1,340,881
217,311
324,091
Bank loans outstanding under the Coronavirus Business Interruption Loan scheme total £1,282,424 (2020: £1,393,370). No repayments or interest were due for a period of one year, after which interest is charged at 3.99% above base rate and repayments are due over a period of five years.
Bank loans and overdrafts are secured by a debenture comprising of fixed and floating charges over all assets of the group.
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 29 -
20
Loans and overdrafts
Group
Company
2021
2020
2021
2020
£
£
£
£
Bank loans
1,282,424
1,393,370
315,757
393,370
Payable within one year
298,446
102,612
98,446
69,279
Payable after one year
983,978
1,290,758
217,311
324,091
Bank loans and overdrafts are secured over a fixed and floating charge.
21
Finance lease obligations
Group
Company
2021
2020
2021
2020
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
107,162
25,029
In two to five years
181,152
50,123
288,314
75,152
-
-
Net obligations under finance lease contracts are secured on the assets to which they relate.
22
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
Liabilities
Liabilities
2021
2020
Group
£
£
Accelerated capital allowances
97,000
65,000
23
Retirement benefit schemes
2021
2020
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
162,970
11,727
A
defined contribution pension scheme
is operated
for all qualifying employees.
The assets of the scheme are held separately from those of the group in an independently administered fund.
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 30 -
24
Share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
Ordinary 'A' shares of £1 each
10
10
10
10
110
110
110
110
The rights attached to each category of shares can be found in the company's articles of association.
25
Operating lease commitments
Lessee
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Group
Company
2021
2020
2021
2020
£
£
£
£
Within one year
111,634
138,363
-
-
Between two and five years
95,113
128,969
-
-
206,747
267,332
-
-
26
Controlling party
The company is under the control of Mr N Smith by virtue of his interest in the company's issued share capital.
ONE ASSET LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 31 -
27
Cash generated from group operations
2021
2020
£
£
Profit/(loss) for the year after tax
379,590
(387,509)
Adjustments for:
Taxation charged/(credited)
32,000
(74,191)
Finance costs
59,211
22,534
(Gain)/loss on disposal of tangible fixed assets
(260,771)
651
Amortisation and impairment of intangible assets
15,513
15,513
Depreciation and impairment of tangible fixed assets
248,246
215,206
Other gains and losses
62,775
-
Movements in working capital:
Decrease/(increase) in stocks
242,619
(452,428)
(Increase)/decrease in debtors
(407,043)
444,691
(Decrease)/increase in creditors
(61,360)
1,197,015
Cash generated from operations
310,780
981,482
28
Analysis of changes in net funds - group
1 January 2021
Cash flows
New finance leases
31 December 2021
£
£
£
£
Cash at bank and in hand
2,534,101
(641,592)
-
1,892,509
Borrowings excluding overdrafts
(1,393,370)
110,946
-
(1,282,424)
Obligations under finance leases
(75,152)
227,647
(440,809)
(288,314)
1,065,579
(302,999)
(440,809)
321,771
2021-12-31
2021-01-01
false
CCH Software
CCH Accounts Production 2022.100
No description of principal activity
Mr N Smith
Mrs C L Smith
Mr J A Kamani
Mr H F Cottam
05851593
2021-01-01
2021-12-31
05851593
bus:Director1
2021-01-01
2021-12-31
05851593
bus:Director2
2021-01-01
2021-12-31
05851593
bus:Director3
2021-01-01
2021-12-31
05851593
bus:CompanySecretary1
2021-01-01
2021-12-31
05851593
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2021-01-01
2021-12-31
05851593
bus:Consolidated
2021-12-31
05851593
bus:Consolidated
2021-01-01
2021-12-31
05851593
bus:Consolidated
2020-01-01
2020-12-31
05851593
2020-01-01
2020-12-31
05851593
2021-12-31
05851593
core:Goodwill
bus:Consolidated
2021-12-31
05851593
core:Goodwill
bus:Consolidated
2020-12-31
05851593
core:OtherResidualIntangibleAssets
bus:Consolidated
2021-12-31
05851593
core:OtherResidualIntangibleAssets
bus:Consolidated
2020-12-31
05851593
core:PatentsTrademarksLicencesConcessionsSimilar
bus:Consolidated
2021-12-31
05851593
core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill
bus:Consolidated
2021-12-31
05851593
core:PatentsTrademarksLicencesConcessionsSimilar
bus:Consolidated
2020-12-31
05851593
core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill
bus:Consolidated
2020-12-31
05851593
bus:Consolidated
2020-12-31
05851593
2020-12-31
05851593
core:LandBuildings
core:OwnedOrFreeholdAssets
bus:Consolidated
2021-12-31
05851593
core:LandBuildings
core:LeasedAssetsHeldAsLessee
bus:Consolidated
2021-12-31
05851593
core:PlantMachinery
bus:Consolidated
2021-12-31
05851593
core:FurnitureFittings
bus:Consolidated
2021-12-31
05851593
core:ComputerEquipment
bus:Consolidated
2021-12-31
05851593
core:MotorVehicles
bus:Consolidated
2021-12-31
05851593
core:LandBuildings
core:OwnedOrFreeholdAssets
bus:Consolidated
2020-12-31
05851593
core:LandBuildings
core:LeasedAssetsHeldAsLessee
bus:Consolidated
2020-12-31
05851593
core:PlantMachinery
bus:Consolidated
2020-12-31
05851593
core:FurnitureFittings
bus:Consolidated
2020-12-31
05851593
core:ComputerEquipment
bus:Consolidated
2020-12-31
05851593
core:MotorVehicles
bus:Consolidated
2020-12-31
05851593
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-12-31
05851593
core:PlantMachinery
2021-12-31
05851593
core:ComputerEquipment
2021-12-31
05851593
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-12-31
05851593
core:PlantMachinery
2020-12-31
05851593
core:ComputerEquipment
2020-12-31
05851593
core:ShareCapital
bus:Consolidated
2021-12-31
05851593
core:ShareCapital
bus:Consolidated
2020-12-31
05851593
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2021-12-31
05851593
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2020-12-31
05851593
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2019-12-31
05851593
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2021-01-01
2021-12-31
05851593
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core:OwnedOrFreeholdAssets
2021-01-01
2021-12-31
05851593
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core:LongLeaseholdAssets
2021-01-01
2021-12-31
05851593
core:PlantMachinery
2021-01-01
2021-12-31
05851593
core:FurnitureFittings
2021-01-01
2021-12-31
05851593
core:MotorVehicles
2021-01-01
2021-12-31
05851593
core:UKTax
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:UKTax
bus:Consolidated
2020-01-01
2020-12-31
05851593
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1
2021-01-01
2021-12-31
05851593
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2020-01-01
2020-12-31
05851593
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2
2021-01-01
2021-12-31
05851593
bus:Consolidated
2
2020-01-01
2020-12-31
05851593
bus:Consolidated
3
2021-01-01
2021-12-31
05851593
bus:Consolidated
3
2020-01-01
2020-12-31
05851593
core:Goodwill
bus:Consolidated
2020-12-31
05851593
core:PatentsTrademarksLicencesConcessionsSimilar
bus:Consolidated
2020-12-31
05851593
core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill
bus:Consolidated
2020-12-31
05851593
bus:Consolidated
2020-12-31
05851593
core:Goodwill
core:ExternallyAcquiredIntangibleAssets
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:PatentsTrademarksLicencesConcessionsSimilar
core:ExternallyAcquiredIntangibleAssets
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill
core:ExternallyAcquiredIntangibleAssets
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:ExternallyAcquiredIntangibleAssets
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:Goodwill
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:PatentsTrademarksLicencesConcessionsSimilar
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:LandBuildings
core:OwnedOrFreeholdAssets
bus:Consolidated
2020-12-31
05851593
core:LandBuildings
core:LeasedAssetsHeldAsLessee
bus:Consolidated
2020-12-31
05851593
core:PlantMachinery
bus:Consolidated
2020-12-31
05851593
core:FurnitureFittings
bus:Consolidated
2020-12-31
05851593
core:ComputerEquipment
bus:Consolidated
2020-12-31
05851593
core:MotorVehicles
bus:Consolidated
2020-12-31
05851593
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-12-31
05851593
core:PlantMachinery
2020-12-31
05851593
core:ComputerEquipment
2020-12-31
05851593
2020-12-31
05851593
core:LandBuildings
core:OwnedOrFreeholdAssets
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:LandBuildings
core:LeasedAssetsHeldAsLessee
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:PlantMachinery
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:FurnitureFittings
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:ComputerEquipment
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:MotorVehicles
bus:Consolidated
2021-01-01
2021-12-31
05851593
core:ComputerEquipment
2021-01-01
2021-12-31
05851593
core:MotorVehicles
2021-12-31
05851593
core:MotorVehicles
2020-12-31
05851593
core:ListedExchangeTraded
bus:Consolidated
2021-12-31
05851593
core:ListedExchangeTraded
bus:Consolidated
2020-12-31
05851593
core:ListedExchangeTraded
2021-12-31
05851593
core:ListedExchangeTraded
2020-12-31
05851593
core:Subsidiary1
2021-01-01
2021-12-31
05851593
core:Subsidiary2
2021-01-01
2021-12-31
05851593
core:Subsidiary3
2021-01-01
2021-12-31
05851593
core:Subsidiary4
2021-01-01
2021-12-31
05851593
core:Subsidiary5
2021-01-01
2021-12-31
05851593
core:Subsidiary6
2021-01-01
2021-12-31
05851593
core:Subsidiary7
2021-01-01
2021-12-31
05851593
core:Subsidiary1
1
2021-01-01
2021-12-31
05851593
core:Subsidiary2
2
2021-01-01
2021-12-31
05851593
core:Subsidiary3
3
2021-01-01
2021-12-31
05851593
core:Subsidiary4
4
2021-01-01
2021-12-31
05851593
core:Subsidiary5
5
2021-01-01
2021-12-31
05851593
core:Subsidiary6
6
2021-01-01
2021-12-31
05851593
core:Subsidiary7
7
2021-01-01
2021-12-31
05851593
core:Associate1
2021-01-01
2021-12-31
05851593
core:Associate2
2021-01-01
2021-12-31
05851593
core:Associate1
1
2021-01-01
2021-12-31
05851593
core:Associate2
2
2021-01-01
2021-12-31
05851593
core:CurrentFinancialInstruments
2021-12-31
05851593
core:CurrentFinancialInstruments
2020-12-31
05851593
core:CurrentFinancialInstruments
bus:Consolidated
2021-12-31
05851593
core:CurrentFinancialInstruments
bus:Consolidated
2020-12-31
05851593
core:WithinOneYear
bus:Consolidated
2021-12-31
05851593
core:WithinOneYear
bus:Consolidated
2020-12-31
05851593
core:CurrentFinancialInstruments
core:WithinOneYear
2021-12-31
05851593
core:CurrentFinancialInstruments
core:WithinOneYear
2020-12-31
05851593
core:Non-currentFinancialInstruments
core:AfterOneYear
bus:Consolidated
2021-12-31
05851593
core:Non-currentFinancialInstruments
core:AfterOneYear
bus:Consolidated
2020-12-31
05851593
core:Non-currentFinancialInstruments
core:AfterOneYear
2021-12-31
05851593
core:Non-currentFinancialInstruments
core:AfterOneYear
2020-12-31
05851593
core:Non-currentFinancialInstruments
bus:Consolidated
2021-12-31
05851593
core:Non-currentFinancialInstruments
bus:Consolidated
2020-12-31
05851593
core:Non-currentFinancialInstruments
2021-12-31
05851593
core:Non-currentFinancialInstruments
2020-12-31
05851593
core:CurrentFinancialInstruments
core:WithinOneYear
bus:Consolidated
2021-12-31
05851593
core:CurrentFinancialInstruments
core:WithinOneYear
bus:Consolidated
2020-12-31
05851593
core:WithinOneYear
2021-12-31
05851593
core:WithinOneYear
2020-12-31
05851593
core:BetweenTwoFiveYears
bus:Consolidated
2021-12-31
05851593
core:BetweenTwoFiveYears
bus:Consolidated
2020-12-31
05851593
core:BetweenTwoFiveYears
2021-12-31
05851593
core:BetweenTwoFiveYears
2020-12-31
05851593
bus:PrivateLimitedCompanyLtd
2021-01-01
2021-12-31
05851593
bus:FRS102
2021-01-01
2021-12-31
05851593
bus:AuditExemptWithAccountantsReport
2021-01-01
2021-12-31
05851593
bus:ConsolidatedGroupCompanyAccounts
2021-01-01
2021-12-31
05851593
bus:FullAccounts
2021-01-01
2021-12-31
xbrli:pure
xbrli:shares
iso4217:GBP