Company registration number 01936377 (England and Wales)
BOUD MINERALS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Whitings LLP
Chartered Accountants
The Old School House
Dartford Road
March
Cambridgeshire
PE15 8AE
BOUD MINERALS LIMITED
COMPANY INFORMATION
Directors
Mr F Boud
Mr DE Boud
Mr TJ Boniface
Secretary
Mrs M Phillips - Resigned 18 July 2022
Company number
01936377
Registered office
West Bank
Sutton Bridge
Spalding
Lincolnshire
PE12 9QH
Auditor
Whitings LLP
The Old School House
Dartford Road
March
Cambridgeshire
PE15 8AE
Accountant
Whitings LLP
12/13 The Crescent
Wisbech
Cambridgeshire
PE13 1EH
BOUD MINERALS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 30
BOUD MINERALS 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 Directors are pleased to report that the results for the year ended 31 December 2021 are extremely strong despite the challenges facing the business as a result of various macro-economic factors such as inflation, increased direct costs and operational disruption as a result of Brexit and the COVID-19 pandemic.
The company continue to invest heavily in its fixed asset base to ensure that operationally they are as efficient as possible to ensure they can meet customer demand and continue to expand into the future, with the help of key strategic partners.
Principal risks and uncertainties
Credit Risk - The company's main financial assets are trade receivables, stock and cash and bank balances. Those assets represent the company's main exposure to credit risk, which is a risk that a counterparty will fail to discharge its obligations, resulting in financial loss to the company. Whilst the company does provide goods and services to many large customers it is not reliant on any of these to continue its operations, with this in mind the Directors believe that credit risk is both limited and mitigated.
Competitive Risk - the company operates in a highly competitive industry and faces competition from a number of sources. This competition may lead to pricing pressure which could result in squeezed profit margins and potential loss of business to other market players. The Directors continually monitor this risk, looking at ways which it can differentiate itself from competitors and continue to assert its strong position in the market.
Regulation Risk - the company operates in an industry which is subject to numerous laws and regulations covering a wide range of matters including health & safety, employment and other operating issues. The company is continually ensuring that the compliance demands of these regulatory factors are met and the Directors, supported by colleagues within the business, have ensured that the policies and culture in relation to this are well communicated to all employees.
Finance Risk - the company funded its operations for the year ended 31 December 2021 through a combination of retained profits, internally generated cash, loans and asset-backed finance arrangements. The Directors continuously monitor the financial health and liquidity of the business and look to utilise various methods of funding to the betterment of the business.
Economic Risk - the company operates in an industry which can be susceptible to adverse economic conditions through decreased business activity, especially in times of recession. Although the Directors acknowledge this risk, the core offering of the company is well diversified to combat this, with customers hailing from a range of industries. The directors are aware of the current conflict between the Ukraine and Russia and the impact this may have on the global supply chain and inflation going forwards, the Directors continue to monitor the situation closely.
Development and performance
The Directors post year end will continue to look for opportunities to grow its customer base and further improve ongoing financial performance, although it is noted that there are many challenges facing the business including continued spiralling inflation which will affect the cost base of the business for the foreseeable future.
BOUD MINERALS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
Key performance indicators
The Directors considered the company’s key performance indicators to be turnover, gross profit, gross margin and operating profit.
Turnover increased from £10,211,401 to £14,132,043.
Gross profit increased from £3,016,299 to £4,369,497.
Gross margin increased from 29.54% to 30.92%.
Operating profit increased from £712,845 to £1,118,732.
Mr F Boud
Director
28 September 2022
BOUD MINERALS 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 8.
Ordinary dividends were paid amounting to £77,100. The directors do not recommend payment of a final dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr F Boud
Mr DE Boud
Mr TJ Boniface
Auditor
Whitings LLP were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s
auditor
is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s
auditor
is aware of that information.
On behalf of the board
Mr F Boud
Director
28 September 2022
BOUD MINERALS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and 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.
BOUD MINERALS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BOUD MINERALS LIMITED
- 5 -
Qualified Opinion
We have audited the financial statements of Boud Minerals Limited (the 'company') for the year ended 31 December 2021 which comprise the profit and loss account, the balance sheet and notes to the financial statements, including 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, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:
-
give a true and fair view of the state of the company's affairs as at 31 December 2021 and of its profit for the period then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for qualified opinion at the end of the previous year
We were unable to observe the physical counting of stocks at 31 December 2020 due to restrictions imposed as a result of the Coronavirus pandemic at the end of that year. We were unable to satisfy ourselves by alternative means concerning stock quantities of £1,780,220 held at 31 December 2020 by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount at 31 December 2020 was necessary or whether there was any consequential effect on the cost of sales for the year ended 31 December 2021.
We conducted our audit procedures in accordance with International Standards of 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 United Kingdom, including the Financial Reporting Councils 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 qualified opinion.
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.
The prior period financial statements were not audited due to the company previously being entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
BOUD MINERALS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BOUD MINERALS LIMITED
- 6 -
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit
:
-
the information given in the directors'
r
eport for the financial period for which the financial statements are prepared is consistent with the financial statements
; and
-
the directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified
d
material misstatements in the directors'
r
eport
. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
We have nothing to report in respect of the following matters in relation to which 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
remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
-
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors'
r
esponsibilities
s
tatement, 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 is 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.
BOUD MINERALS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BOUD MINERALS LIMITED
- 7 -
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the
financial statements
as a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with
ISAs (UK)
will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements
.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below
.
-
Enquiry of management around actual and potential litigation and claims;
-
Reviewing financial statement disclosures and testing supporting documentation to assess compliance with applicable laws and regulations; and
-
Performing
audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Ben Beech ACA (Senior statutory auditor)
For and on behalf of Whitings LLP
29 September 2022
Chartered Accountants &
Statutory Auditor
The Old School House
Dartford Road
March
Cambridgeshire
PE15 8AE
BOUD MINERALS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 8 -
2021
2020
Notes
£
£
Turnover
3
14,132,043
10,211,401
Cost of sales
(9,762,546)
(7,195,102)
Gross profit
4,369,497
3,016,299
Administrative expenses
(3,255,826)
(2,373,087)
Other operating income
5,061
69,633
Operating profit
4
1,118,732
712,845
Interest payable and similar expenses
8
(38,491)
(45,514)
Amounts written off investments
(20,000)
(20,000)
Profit before taxation
1,060,241
647,331
Tax on profit
9
(204,482)
(117,373)
Profit for the financial year
855,759
529,958
The profit and loss account has been prepared on the basis that all operations are continuing operations.
BOUD MINERALS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2021
- 9 -
2021
2020
£
£
Profit for the year
855,759
529,958
Other comprehensive income
-
-
Total comprehensive income for the year
855,759
529,958
BOUD MINERALS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 10 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
13
4,340,087
3,292,268
Investments
14
101
101
4,340,188
3,292,369
Current assets
Stocks
15
2,305,232
1,780,220
Debtors
16
1,878,563
1,398,951
Cash at bank and in hand
17
290,872
612,466
4,474,667
3,791,637
Creditors: amounts falling due within one year
18
(2,524,833)
(2,204,777)
Net current assets
1,949,834
1,586,860
Total assets less current liabilities
6,290,022
4,879,229
Creditors: amounts falling due after more than one year
20
(1,008,876)
(641,301)
Provisions for liabilities
Deferred tax liability
22
513,106
248,547
(513,106)
(248,547)
Net assets
4,768,040
3,989,381
Capital and reserves
Called up share capital
25
41,015
41,015
Share premium account
26
672,258
672,258
Revaluation reserve
27
239,293
239,293
Profit and loss reserves
28
3,815,474
3,036,815
Total equity
4,768,040
3,989,381
The financial statements were approved by the board of directors and authorised for issue on 28 September 2022 and are signed on its behalf by:
Mr F Boud
Director
Company Registration No. 01936377
BOUD MINERALS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021
- 11 -
Share capital
Share premium account
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 January 2020
41,015
672,258
239,293
2,583,957
3,536,523
Year ended 31 December 2020:
Profit and total comprehensive income for the year
-
-
-
529,958
529,958
Dividends
10
-
-
-
(77,100)
(77,100)
Balance at 31 December 2020
41,015
672,258
239,293
3,036,815
3,989,381
Year ended 31 December 2021:
Profit and total comprehensive income for the year
-
-
-
855,759
855,759
Dividends
10
-
-
-
(77,100)
(77,100)
Balance at 31 December 2021
41,015
672,258
239,293
3,815,474
4,768,040
BOUD MINERALS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 12 -
2021
2020
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
34
705,041
1,475,696
Interest paid
(38,491)
(45,514)
Income taxes (paid)/refunded
(60,077)
68,614
Net cash inflow from operating activities
606,473
1,498,796
Investing activities
Purchase of tangible fixed assets
(1,477,563)
(659,715)
Proceeds on disposal of tangible fixed assets
39,430
39,096
Impairment of investments
(20,000)
(20,000)
Net cash used in investing activities
(1,458,133)
(640,619)
Financing activities
Repayment of bank loans
(118,223)
(118,221)
New finance lease obligations
900,810
-
Payment of finance leases obligations
(175,421)
(65,099)
Dividends paid
(77,100)
(77,100)
Net cash generated from/(used in) financing activities
530,066
(260,420)
Net (decrease)/increase in cash and cash equivalents
(321,594)
597,757
Cash and cash equivalents at beginning of year
612,466
14,709
Cash and cash equivalents at end of year
290,872
612,466
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 13 -
1
Accounting policies
Company information
Boud Minerals Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
West Bank, Sutton Bridge, Spalding, Lincolnshire, PE12 9QH.
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 freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale 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 amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 14 -
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.5
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
2% straight line basis. Land not depreciated
Freehold improvements
10% straight line basis
Plant and equipment
10 - 25% straight line basis
Fixtures and fittings
10 - 25% straight line basis
Motor vehicles
20% straight line and reducing balance basis
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 credited or charged to profit or loss
.
1.6
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
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
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.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 15 -
1.7
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.8
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
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.
1.9
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.
1.10
Financial instruments
The company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
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.
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 16 -
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
method 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.
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 company
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 company 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.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
Trade creditors
are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 17 -
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts,
are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are
s
ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in
profit
or
loss
in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as
being measured at
fair value th
r
ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations
expire or are discharged or cancelled.
1.11
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.12
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
company’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 when the
company
has 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.
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 18 -
1.13
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
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 demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.14
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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.
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
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.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
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.
2
Judgements and key sources of estimation uncertainty
In the application of the company’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.
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 19 -
3
Turnover and other revenue
2021
2020
£
£
Turnover analysed by class of business
Merchanted products
5,395,762
4,310,347
Manufactured products
8,736,281
5,901,054
14,132,043
10,211,401
All turnover arose within the United Kingdom.
2021
2020
£
£
Other revenue
Grants received
1,196
68,254
4
Operating profit
2021
2020
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange gains
(88,123)
(9,811)
Government grants
(1,196)
(68,254)
Depreciation of owned tangible fixed assets
258,025
243,642
Depreciation of tangible fixed assets held under finance leases
67,069
43,226
Profit on disposal of tangible fixed assets
(1,849)
(1,167)
Operating lease charges
32,134
32,727
5
Auditor's remuneration
2021
2020
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
11,500
6
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Director
3
3
Staff
51
38
Total
54
41
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
6
Employees
(Continued)
- 20 -
Their aggregate remuneration comprised:
2021
2020
£
£
Wages and salaries
1,739,248
1,236,721
Social security costs
172,481
116,525
Pension costs
53,105
35,651
1,964,834
1,388,897
7
Directors' remuneration
2021
2020
£
£
Remuneration for qualifying services
150,729
107,729
Company pension contributions to defined contribution schemes
6,144
5,894
156,873
113,623
8
Interest payable and similar expenses
2021
2020
£
£
Other finance costs:
Interest on finance leases and hire purchase contracts
15,011
14,337
Other interest
23,480
31,177
38,491
45,514
9
Taxation
2021
2020
£
£
Current tax
UK corporation tax on profits for the current period
(60,077)
60,077
Adjustments in respect of prior periods
(11,907)
Total current tax
(60,077)
48,170
Deferred tax
Origination and reversal of timing differences
264,559
69,203
Total tax charge
204,482
117,373
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
9
Taxation
(Continued)
- 21 -
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2021
2020
£
£
Profit before taxation
1,060,241
647,331
Expected tax charge based on the standard rate of corporation tax in the UK of 19.00% (2020: 19.00%)
201,446
122,993
Tax effect of expenses that are not deductible in determining taxable profit
4,655
20
Unutilised tax losses carried forward
(3,141)
Effect of change in corporation tax rate
123,145
Permanent capital allowances in excess of depreciation
(74,313)
Depreciation on assets not qualifying for tax allowances
5,705
5,705
Research and development tax credit
(56,156)
Under/(over) provided in prior years
(11,907)
Other
3,703
Taxation charge for the year
204,482
117,373
Factors that may affect future tax charges
Future increases to the UK Corporation tax rates were substantively enacted to increase the main rate of corporation tax from 19% to a rate between 19% and 25% with effect from 1 April 2023. The deferred tax liabilities do reflect these rates.
10
Dividends
2021
2020
£
£
Dividends paid
77,100
77,100
11
Impairments
Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:
2021
2020
Notes
£
£
In respect of:
Fixed asset investments
14
20,000
20,000
Recognised in:
Amounts written off investments
20,000
20,000
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
11
Impairments
(Continued)
- 22 -
The impairment losses in respect of financial assets are recognised in other gains and losses in the profit and loss account.
12
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2021 and 31 December 2021
464,215
Amortisation and impairment
At 1 January 2021 and 31 December 2021
464,215
Carrying amount
At 31 December 2021
At 31 December 2020
More information on impairment
movements
in the
year is given in note 11.
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 23 -
13
Tangible fixed assets
Freehold land and buildings
Freehold improvements
Assets under construction
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 January 2021
1,925,000
90,986
21,430
2,000,637
163,819
323,840
4,525,712
Additions
8,320
1,195,147
8,988
265,108
1,477,563
Disposals
(29,645)
(29,645)
Transfers
(21,430)
(21,430)
At 31 December 2021
1,925,000
90,986
8,320
3,195,784
172,807
559,303
5,952,200
Depreciation and impairment
At 1 January 2021
142,536
3,033
872,945
111,130
103,800
1,233,444
Depreciation charged in the year
28,000
7,114
234,175
31,970
23,835
325,094
Depreciation charged in the year (HP)
21,422
45,647
67,069
Eliminated in respect of disposals
(13,494)
(13,494)
At 31 December 2021
170,536
10,147
1,128,542
143,100
159,788
1,612,113
Carrying amount
At 31 December 2021
1,754,464
80,839
8,320
2,067,242
29,707
399,515
4,340,087
At 31 December 2020
1,782,464
87,953
21,430
1,127,692
52,689
220,040
3,292,268
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
13
Tangible fixed assets
(Continued)
- 24 -
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
2021
2020
£
£
Plant and equipment
539,377
221,242
Motor vehicles
842,959
145,222
1,382,336
366,464
14
Fixed asset investments
2021
2020
Notes
£
£
Investments in subsidiaries
101
101
15
Stocks
2021
2020
£
£
Raw materials and consumables
2,305,232
1,780,220
Stock recognised in cost of sales during the year as an expense was £9,169,165 (2020: £6,861,832)
.
16
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
1,493,298
1,212,559
Corporation tax recoverable
97,901
37,824
Other debtors
15,685
17,656
Prepayments and accrued income
271,679
130,912
1,878,563
1,398,951
An impairment loss of £24,130 (2020: £nil) was provided against trade debtors.
17
Cash and cash equivalents
Cash at bank and in hand at the year end was £290,872 (2020 - £612,466).
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 25 -
18
Creditors: amounts falling due within one year
2021
2020
Notes
£
£
Bank loans
19
118,222
118,223
Obligations under finance leases
21
364,010
124,418
Trade creditors
1,735,982
1,157,295
Amounts owed to group undertakings
340
340
Corporation tax
60,077
Other taxation and social security
231,005
487,961
Other creditors
23,446
182,868
Accruals and deferred income
51,828
73,595
2,524,833
2,204,777
Bank loans and hire purchase agreements are secured against the assets to which they relate to.
19
Loans and overdrafts
2021
2020
£
£
Bank loans
561,564
679,787
Payable within one year
118,222
118,223
Payable after one year
443,342
561,564
The bank loan is secured by fixed and floating charges over the company’s assets.
Interest on the bank loans are charged at 2.73% above fixed rate and 3.53% over LIBOR.
20
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
19
443,342
561,564
Obligations under finance leases
21
565,534
79,737
1,008,876
641,301
Bank loans and hire purchase agreements are secured against the assets to which they relate to.
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 26 -
21
Finance lease obligations
2021
2020
Future minimum lease payments due under finance leases:
£
£
Within one year
364,010
124,418
In two to five years
565,534
79,737
929,544
204,155
Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
22
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2021
2020
Balances:
£
£
Accelerated capital allowances
593,074
248,547
Tax losses
(79,968)
-
513,106
248,547
2021
Movements in the year:
£
Liability at 1 January 2021
248,547
Charge to profit or loss
264,559
Liability at 31 December 2021
513,106
The deferred tax liability set out above is expected to reverse within [12 months] and relates to accelerated capital allowances that are expected to mature within the same period.
23
Government grants
Government grant income received in the year was £1,196 (2020 - £68,254).
Government grant income represents amounts received under the Coronavirus Job Retention Scheme
.
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 27 -
24
Retirement benefit schemes
2021
2020
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
53,105
35,651
The company operates a defined contribution pension scheme for all qualifying employees.
The assets of the scheme are held separately from those of the company in an independently administered fund.
25
Share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
8,894
8,894
8,894
8,894
Ordinary B shares of £1 each
20,918
20,918
20,918
20,918
Ordinary C shares non voting of £1 each
3,000
3,000
3,000
3,000
Ordinary D shares of £1 each
8,203
8,203
8,203
8,203
41,015
41,015
41,015
41,015
All classes of shares shall rank pari passu except that 1)
the directors may pay interim dividends at variable rates on the different share classes of shares and 2) the C ordinary shares have no voting rights.
26
Share premium account
2021
2020
£
£
At the beginning and end of the year
672,258
672,258
The balance classified as share premium relates to the aggregate net processed less nominal value of shares on issue of the Company's equity share capital.
27
Revaluation reserve
2021
2020
£
£
At the beginning and end of the year
239,293
239,293
Represents all of the current and prior period gains on the valuation of the Company's freehold property.
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 28 -
28
Profit and loss reserves
2021
2020
£
£
At the beginning of the year
3,036,815
2,583,957
Profit for the year
855,759
529,958
Dividends declared and paid in the year
(77,100)
(77,100)
At the end of the year
3,815,474
3,036,815
Represents all current and prior periods retained profits and losses, less dividends paid.
29
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2021
2020
£
£
Within one year
203,552
81,561
Between two and five years
365,799
292,343
569,351
373,904
30
Capital commitments
Amounts contracted for but not provided in the financial statements:
2021
2020
£
£
Acquisition of tangible fixed assets
24,900
76,986
31
Related party transactions
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2021
2020
£
£
Aggregate compensation
150,729
107,729
Transactions with related parties
During the year the company entered into the following transactions with related parties:
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
31
Related party transactions
(Continued)
- 29 -
Sales
Sales
Purchases
Purchases
2021
2020
2021
2020
£
£
£
£
Instarmac Group PLC
314,098
94,583
44,118
19,275
Boud AB
208,578
631,546
842,105
67,972
The following amounts were outstanding at the reporting end date:
2021
2020
Amounts due to related parties
£
£
Instarmac Group PLC
29,132
13,649
Boud AB
45,396
-
The following amounts were outstanding at the reporting end date:
2021
2020
Amounts due from related parties
£
£
Instarmac Group PLC
76,705
-
Boud AB
-
3,417
Other information
Boud Minerals AB, is a company owned and controlled by a director of Boud Minerals Ltd.
Boud Minerals Ltd are partially owned by Instarmac Holding Limited, who wholly own Instarmac Group PLC.
During the year the company took out a loan from Instarmac Group PLC of £200,000. The loan was repaid during the year and £1,896 interest was paid.
32
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Mr F Boud -
-
66,716
(67,968)
(1,252)
Mr DE Boud -
-
1,107
(6,025)
(4,918)
67,823
(73,993)
(6,170)
33
Ultimate controlling party
The ultimate controlling party is Mr F Boud who holds a majority shareholding in the company.
BOUD MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 30 -
34
Cash generated from operations
2021
2020
£
£
Profit for the year after tax
855,759
529,958
Adjustments for:
Taxation charged
204,482
117,373
Finance costs
38,491
45,514
Gain on disposal of tangible fixed assets
(1,849)
(1,167)
Depreciation and impairment of tangible fixed assets
392,163
286,868
Other gains and losses
20,000
20,000
Movements in working capital:
(Increase)/decrease in stocks
(525,012)
68,012
Increase in debtors
(419,535)
(456,075)
Increase in creditors
140,542
865,213
Cash generated from operations
705,041
1,475,696
35
Analysis of changes in net debt
1 January 2021
Cash flows
New finance leases
31 December 2021
£
£
£
£
Cash at bank and in hand
612,466
(321,594)
-
290,872
Borrowings excluding overdrafts
(679,787)
118,223
-
(561,564)
Obligations under finance leases
(204,155)
175,421
(900,810)
(929,544)
(271,476)
(27,950)
(900,810)
(1,200,236)
BOUD MINERALS LIMITED
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021
2021-12-31
2021-01-01
false
CCH Software
CCH Accounts Production 2022.200
No description of principal activity
Mr F Boud
Mr DE Boud
Mr TJ Boniface
Mrs M Phillips
01936377
2021-01-01
2021-12-31
01936377
bus:Director1
2021-01-01
2021-12-31
01936377
bus:Director2
2021-01-01
2021-12-31
01936377
bus:Director3
2021-01-01
2021-12-31
01936377
bus:CompanySecretary1
2021-01-01
2021-12-31
01936377
bus:RegisteredOffice
2021-01-01
2021-12-31
01936377
2021-12-31
01936377
2020-01-01
2020-12-31
01936377
dpl:Item1
2021-01-01
2021-12-31
01936377
dpl:Item1
2020-01-01
2020-12-31
01936377
dpl:Item2
2021-01-01
2021-12-31
01936377
dpl:Item2
2020-01-01
2020-12-31
01936377
core:RetainedEarningsAccumulatedLosses
2020-01-01
2020-12-31
01936377
core:RetainedEarningsAccumulatedLosses
2021-01-01
2021-12-31
01936377
2020-12-31
01936377
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-12-31
01936377
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2021-12-31
01936377
core:ConstructionInProgressAssetsUnderConstruction
2021-12-31
01936377
core:PlantMachinery
2021-12-31
01936377
core:FurnitureFittings
2021-12-31
01936377
core:MotorVehicles
2021-12-31
01936377
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-12-31
01936377
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2020-12-31
01936377
core:ConstructionInProgressAssetsUnderConstruction
2020-12-31
01936377
core:PlantMachinery
2020-12-31
01936377
core:FurnitureFittings
2020-12-31
01936377
core:MotorVehicles
2020-12-31
01936377
core:CurrentFinancialInstruments
core:WithinOneYear
2021-12-31
01936377
core:CurrentFinancialInstruments
core:WithinOneYear
2020-12-31
01936377
core:Non-currentFinancialInstruments
core:AfterOneYear
2021-12-31
01936377
core:Non-currentFinancialInstruments
core:AfterOneYear
2020-12-31
01936377
core:CurrentFinancialInstruments
2021-12-31
01936377
core:CurrentFinancialInstruments
2020-12-31
01936377
core:Non-currentFinancialInstruments
2021-12-31
01936377
core:Non-currentFinancialInstruments
2020-12-31
01936377
core:ShareCapital
2021-12-31
01936377
core:ShareCapital
2020-12-31
01936377
core:SharePremium
2021-12-31
01936377
core:SharePremium
2020-12-31
01936377
core:RevaluationReserve
2021-12-31
01936377
core:RevaluationReserve
2020-12-31
01936377
core:RetainedEarningsAccumulatedLosses
2021-12-31
01936377
core:RetainedEarningsAccumulatedLosses
2020-12-31
01936377
core:ShareCapital
2019-12-31
01936377
core:SharePremium
2019-12-31
01936377
core:RevaluationReserve
2019-12-31
01936377
core:RetainedEarningsAccumulatedLosses
2019-12-31
01936377
2019-12-31
01936377
core:ShareCapitalOrdinaryShares
2021-12-31
01936377
core:ShareCapitalOrdinaryShares
2020-12-31
01936377
core:RetainedEarningsAccumulatedLosses
2020-12-31
01936377
1
2021-01-01
2021-12-31
01936377
1
2020-01-01
2020-12-31
01936377
2020-12-31
01936377
core:Goodwill
2021-01-01
2021-12-31
01936377
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-01-01
2021-12-31
01936377
core:LandBuildings
core:LongLeaseholdAssets
2021-01-01
2021-12-31
01936377
core:PlantMachinery
2021-01-01
2021-12-31
01936377
core:FurnitureFittings
2021-01-01
2021-12-31
01936377
core:MotorVehicles
2021-01-01
2021-12-31
01936377
dpl:Item1
dpl:AdministrativeExpenses
2021-01-01
2021-12-31
01936377
dpl:Item1
dpl:AdministrativeExpenses
2020-01-01
2020-12-31
01936377
core:UKTax
2021-01-01
2021-12-31
01936377
core:UKTax
2020-01-01
2020-12-31
01936377
2
2021-01-01
2021-12-31
01936377
2
2020-01-01
2020-12-31
01936377
3
2021-01-01
2021-12-31
01936377
3
2020-01-01
2020-12-31
01936377
core:Goodwill
2020-12-31
01936377
core:Goodwill
2021-12-31
01936377
core:Goodwill
2020-12-31
01936377
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-12-31
01936377
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2020-12-31
01936377
core:ConstructionInProgressAssetsUnderConstruction
2020-12-31
01936377
core:PlantMachinery
2020-12-31
01936377
core:FurnitureFittings
2020-12-31
01936377
core:MotorVehicles
2020-12-31
01936377
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2021-01-01
2021-12-31
01936377
core:ConstructionInProgressAssetsUnderConstruction
2021-01-01
2021-12-31
01936377
core:WithinOneYear
2021-12-31
01936377
core:WithinOneYear
2020-12-31
01936377
core:BetweenTwoFiveYears
2021-12-31
01936377
core:BetweenTwoFiveYears
2020-12-31
01936377
dpl:Item1
dpl:CostSales
2020-12-31
01936377
dpl:Item1
dpl:CostSales
2019-12-31
01936377
dpl:Item1
dpl:CostSales
2021-12-31
01936377
dpl:Item1
dpl:CostSales
2020-12-31
01936377
dpl:Item1
dpl:CostSales
2021-01-01
2021-12-31
01936377
dpl:Item1
dpl:CostSales
2020-01-01
2020-12-31
01936377
dpl:Item2
dpl:CostSales
2021-01-01
2021-12-31
01936377
dpl:Item2
dpl:CostSales
2020-01-01
2020-12-31
01936377
dpl:Item3
dpl:CostSales
2021-01-01
2021-12-31
01936377
dpl:Item3
dpl:CostSales
2020-01-01
2020-12-31
01936377
dpl:Item2
dpl:AdministrativeExpenses
2021-01-01
2021-12-31
01936377
dpl:Item2
dpl:AdministrativeExpenses
2020-01-01
2020-12-31
01936377
dpl:Item3
dpl:AdministrativeExpenses
2021-01-01
2021-12-31
01936377
dpl:Item3
dpl:AdministrativeExpenses
2020-01-01
2020-12-31
01936377
bus:PrivateLimitedCompanyLtd
2021-01-01
2021-12-31
01936377
bus:FRS102
2021-01-01
2021-12-31
01936377
bus:Audited
2021-01-01
2021-12-31
01936377
bus:FullAccounts
2021-01-01
2021-12-31
xbrli:pure
xbrli:shares
iso4217:GBP