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REGISTERED NUMBER: 10972150 (England and Wales)






























GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD

30 JUNE 2018 TO 28 JUNE 2019

FOR

BASTIAN PLC

BASTIAN PLC (REGISTERED NUMBER: 10972150)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 6

Report of the Independent Auditors 8

Consolidated Statement of Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


BASTIAN PLC

COMPANY INFORMATION
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019







DIRECTORS: Mrs MA Bastian
Mr KC Bastian



SECRETARY: Mr KC Bastian



REGISTERED OFFICE: Granville Hall
Granville Road
Leicester
Leicestershire
LE1 7RU



REGISTERED NUMBER: 10972150 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr W Scales FCA FMAAT



AUDITORS: Mark J Rees LLP, Statutory Auditor
Chartered Accountants
Granville Hall
Granville Road
Leicester
LE1 7RU

BASTIAN PLC (REGISTERED NUMBER: 10972150)

GROUP STRATEGIC REPORT
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


The directors present their strategic report of the company and the group for the period 30 June 2018 to 28 June 2019.

In 2009, the owners of Fischer Future Heat UK Limited, Keith and Maria Bastian decided to bring German manufactured
heating to the UK. They already had over 12 years' experience in the industry when they started supplying Fischer heating to
the British public. Their passion for bringing efficient and economical heating to the British market has led them on a
journey which has seen them grow the company into a household name. In 2012, Fischer Future Heat UK Limited was
moved to its current Head Office location at Frog Island. In November 2017, Fischer Future Heat UK Limited became a
part of the Bastian Plc group of companies.

German engineering under British ownership is a unique aspect of our organisation that we are extremely proud of and we
know many of our customers are delighted to hear that we are British owned and comment that it offers them peace of mind,
knowing that the company they are dealing with is not so far away!

In 2017 Foxglove Energy Supply Limited and Fischer Energy Plc were added to the Bastian Plc portfolio of companies.

Foxglove Energy Supply Limited, and its sister company Fischer Energy Plc, are here to bring positive change for
customers who value fairness, honesty and loyalty. We offer a simple ‘One Fair Tariff’ to all our customers. Foxglove
Energy Supply Limited is ‘Powering The Future’ by delivering the fairest and most competitive price we can.

Foxglove Energy Supply Limited already has a fantastic relationship with the British public in energy saving heating
through our sister company, Fischer Future Heat UK Limited. We appreciate the frustrations many people can face when
aiming for the best deal to power and heat your home. We are in a unique position to provide a complete service that
ensures an efficient way to heat your home, powered by an energy supplier that delivers fair and honest service at a
competitive rate.

As a family run business, we provide ourselves on doing things the right way. Sustainability is everything to us, from
supplying clean energy to making sure we have the best people doing all they can for our valued customers. We invest in the
future of our planet by providing you renewal energy with prices aimed at keeping your bills low.

We are proud to partner with Orsted, a global leader in offshore wind. Headquartered in Denmark, the company has
invested £8 billion building eleven wind farms right here in the UK. A further £4 billion spend is planned by the end of the
year 2020. Orsted is committed to ensuring sustainable growth and development and this is a vision both of our companies
share.

Here at Foxglove Energy Supply Limited, we are in a position to guarantee that the energy we buy on your behalf has a
direct and positive impact within the United Kingdom. The electricity that we purchase from Orsted has a significant impact
on the reduction of UK CO2 emissions. It also helps boost the local economy and provides hundreds of jobs in the
communities where wind farms are closely situated. 100% of the electricity we supply to all our customers comes from
renewable sources. In fact, not only is our electricity completely clean, it is also wholly generated from offshore UK wind
farms, benefitting not only the environment but the UK economy too.

The directors are responsible for the maintenance of the group websites www.fischerfutureheat.com and
www.foxgloveenergy.co.uk.


BASTIAN PLC (REGISTERED NUMBER: 10972150)

GROUP STRATEGIC REPORT
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019

REVIEW OF BUSINESS
The Group experienced significant growth in the energy segment of the business, with a rapid rise in customer recruitment
being achieved. This has now stabilised. Due to the rapid growth there have been challenges in the customer service areas
but these have now been resolved and the company has successfully implemented significant improvements in the customer
service offering.

The Group's storage heater business experienced a drop in revenue due to Brexit and the connected lack of confidence in
consumer markets but has increased profit margins due to internal efficiencies. The business segment's revenue levels have
since recovered, releasing new products that have seen popular demand since the year end and experiencing a rise in
turnover to prior levels.

The results for the year and financial position of the group are as shown in the financial statements.

FINANCIAL KEY PERFORMANCE INDICATORS
The Group has had a challenging year, experiencing both a period of significant growth with an increase in revenue of £70.7
million and difficult market conditions. The group has achieved turnover of £111.4 million (2018: £40.7 million) and gross
profit margins of 12.06% (2018: 30.4%). This has resulted in an operating loss of £970k (2018: profit of £4.6 million) and
net assets of £4,2 million (2018: £6.3 million). Net loss of 1.9 million (2018: profit of £3.1 million) was suffered in the
period.

Our KPI's for the year highlight the significant level of sales growth achieved:

KPI's £    2019 2018

Turnover 111,391 40,660
Gross Profit 13,436 12,371
Gross Profit % 12.1 30.4
Operating Profit/(Loss) (970) 4,585
Operating Profit % (.8) 11.3
Net Profit (1,919) 3,075
Net Assets 4,189 6,321

However, the above analysis includes an exceptional item relating to a large bad debt to the tune of £1.1 million and the
results after the effect of commodities hedges undertaken in the year. To give a fuller and truer picture of the group's
performance in the year, by excluding these factors from the calculation of our KPI's for the year it can be seen that the
group has performed as follows;

KPI's £    2019 2018

Turnover 111,391 40,660
Gross Profit before hedge 14,718 12,371
Gross Profit % 13.2 30.4
Operating Profit/(Loss) excluding
hedges and exceptional item

1,362

4,585
Operating Profit % 1.2 11.3
Net Profit excluding hedges and
exceptional item

413

3,075
Net Assets 6,521 6,321

While profit margins are down this is attributable to the fact that the energy segment of the business has achieved high
growth in revenue but with much lower margins.

Substantial investment has been made in plant and machinery to improve service levels and efficiency and to provide the
capacity for future growth.


BASTIAN PLC (REGISTERED NUMBER: 10972150)

GROUP STRATEGIC REPORT
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019

Our experienced management team and strong financial position enable us to be well positioned to continue the successful
development of the company.

From late March 2020 the COVID-19 pandemic had a significant impact on our business operations. With businesses across
the country also closing we expect a significant fall in sales in certain business segments. We are adjusting our focus to
online sales and supporting our customers with extended guarantees and other required customer support. To mitigate our
costs we have taken advantage of the Government Job Retention scheme and the Coronavirus Large Business Interruption
Loan Scheme. However we will continue to offer technical support and sales/supply lines to our online customers.


NON FINANCIAL KEY PERFORMANCE INDICATORS
The Group uses a number of non financial factors to measure performance of its business segments.

Customer ratings and reviews from Trustpilot, the independent consumer review website, shows ratings of 4.5 stars out of 5
for both revenue streams of the Group.

Customer numbers are also deemed a crucial factor. For the Domestic Energy Supply segment of the Group, customer
numbers at the year end were maintained at 78k (2018: 61k).

The Group is proud of its conservational and environmentally focused culture. To showcase this, the domestic energy
supply segment of the business utilises a portfolio of 100% renewable energy sources.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors identify, assess and manage risks associated with the Group's business objectives and strategy in the following
categories;

Competition
The Group operates in highly competitive markets in the United Kingdom. It is the opinion of the directors that the Group is
in a strong position due to the experience and ability of of its management team, culture and the efficiency of its operations.

Liquidity and cashflow risk
The Group manages liquidity risk by ensuring that there are sufficient funds to meet amounts due to trade creditors and loan
repayments. Trade debtors are managed in respect of credit and cash flow risk by regular monitoring of amounts outstanding
in terms of time and credit limits and a very high penetration of direct debit collections.

The company manages cash responsibly and and operates both a daily cashflow model to monitor forecasted cashflows for
up to six months in advance alongside a longe range forecast model. These models are monitored and reviewed on an
ongoing basis. This allows the Group to manage risk by ensuring cash is allocated appropriately and any potential shortfalls
can be prepared for far in advance.

Energy commodity market risks
Movements in the energy commodities market can have a considerable impact on both its turnover and gross margin. The
Group has entered into an energy commodities hedge to mitigate this risk. The Group follows a strict and sophisticated
hedging policy, and manages the mark-to-market margin call risk arising from forward fuel contracts on an ongoing basis by
responding efficiently to changes in wholesale prices.

Bad debt risk
The Group holds significant customer debtor balances, which is particularly susceptible to seasonal fluctuations. To mitigate
this risk, the Group collects monthly direct debits from a very high proportion of its customers and has established a variety
of debt management procedures to significantly reduce the risk of loss of payments and bad debts.

With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be
subject to unforeseen events outside of our control.


BASTIAN PLC (REGISTERED NUMBER: 10972150)

GROUP STRATEGIC REPORT
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019

FUTURE ACTIVITIES
The group will continue to invest in its market and sales activities to broaden the customer base and develop a stronger
customer service offering. This includes expanding its product lines and management is continually looking for new ways to
innovate.

ON BEHALF OF THE BOARD:





Mr KC Bastian - Director


17 June 2020

BASTIAN PLC (REGISTERED NUMBER: 10972150)

REPORT OF THE DIRECTORS
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


The directors present their report with the financial statements of the company and the group for the period 30 June 2018 to
28 June 2019.

DIVIDENDS
The total distribution of dividends for the period ended 28 June 2019 will be £398,000 (2018: £214,000).

EVENTS SINCE THE END OF THE PERIOD
Information relating to events since the end of the period is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 30 June 2018 to the date of this report.

Mrs MA Bastian
Mr KC Bastian

POLITICAL DONATIONS AND EXPENDITURE
No political donations were made in the period.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial
statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the
company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the
directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will
continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's
and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the
group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act
2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken
as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's
auditors are aware of that information.

BASTIAN PLC (REGISTERED NUMBER: 10972150)

REPORT OF THE DIRECTORS
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


AUDITORS
The auditors, Mark J Rees LLP, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General
Meeting.

ON BEHALF OF THE BOARD:





Mr KC Bastian - Director


17 June 2020

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BASTIAN PLC


Opinion
We have audited the financial statements of Bastian Plc (the 'parent company') and its subsidiaries (the 'group') for the
period ended 28 June 2019 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance
Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity,
Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements,
including a summary of significant accounting policies. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted
Accounting Practice).

In our opinion the financial statements:
- give a true and fair view of the state of the group's and of the parent company affairs as at 28 June 2019 and of the
group's loss for the period then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our
responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial
statements section of our report. We are independent of the group in accordance with the ethical requirements that are
relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you
where:
- the directors' use of the going concern basis of accounting in the preparation of the financial statements is not
appropriate; or
- the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant
doubt about the group's ability to continue to adopt the going concern basis of accounting for a period of at least twelve
months from the date when the financial statements are authorised for issue.
We agree with the assessment of going concern of the directors as outlined in note 3.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group
Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the
Auditors thereon.

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

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in
the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in the financial statements or a
material misstatement of the other information. If, based on the work we have performed, we conclude that there is a
material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the
financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal
requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BASTIAN PLC


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the
Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if,
in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been
received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for
the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal
control as the directors determine necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis
of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have
no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable
assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies
Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are
required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do
not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit
work, for this report, or for the opinions we have formed.




Mr W Scales FCA FMAAT (Senior Statutory Auditor)
for and on behalf of Mark J Rees LLP, Statutory Auditor
Chartered Accountants
Granville Hall
Granville Road
Leicester
LE1 7RU

17 June 2020

BASTIAN PLC (REGISTERED NUMBER: 10972150)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019

Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
Notes £    £   

TURNOVER 4 111,391,047 40,660,218

Cost of sales 97,955,385 28,288,984
GROSS PROFIT 13,435,662 12,371,234

Administrative expenses 14,514,293 7,825,799
(1,078,631 ) 4,545,435

Other operating income 108,589 39,627
OPERATING (LOSS)/PROFIT 6 (970,042 ) 4,585,062

Connected company balance
written off 7 994,463 -
(1,964,505 ) 4,585,062

Interest receivable and similar income 106,071 103,255
(1,858,434 ) 4,688,317

Interest payable and similar expenses 8 61,072 36,790
(LOSS)/PROFIT BEFORE TAXATION (1,919,506 ) 4,651,527

Tax on (loss)/profit 9 (185,488 ) 1,576,509
(LOSS)/PROFIT FOR THE FINANCIAL
PERIOD

(1,734,018

)

3,075,018

BASTIAN PLC (REGISTERED NUMBER: 10972150)

CONSOLIDATED BALANCE SHEET
28 JUNE 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 693,326 439,741
Tangible assets 13 3,471,479 3,635,441
Investments 14 254,000 254,000
Investment property 15 1,928,864 1,452,932
6,347,669 5,782,114

CURRENT ASSETS
Stocks 16 771,860 774,864
Debtors: amounts falling due within one year 17 18,051,192 13,686,894
Debtors: amounts falling due after more than
one year

17

2,736,901

2,593,391
Cash at bank and in hand 1,994,278 2,406,015
23,554,231 19,461,164
CREDITORS
Amounts falling due within one year 18 24,374,005 17,361,621
NET CURRENT (LIABILITIES)/ASSETS (819,774 ) 2,099,543
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,527,895

7,881,657

CREDITORS
Amounts falling due after more than one year 19 (1,283,123 ) (1,489,289 )

PROVISIONS FOR LIABILITIES 23 (55,522 ) (71,100 )
NET ASSETS 4,189,250 6,321,268

CAPITAL AND RESERVES
Called up share capital 24 50,000 50,000
Share premium 25 3,000,000 3,000,000
Merger reserve 25 (2,950,001 ) (2,950,001 )
Fair value reserve 25 252,159 75,091
Retained earnings 25 3,837,092 6,146,178
SHAREHOLDERS' FUNDS 4,189,250 6,321,268

The financial statements were approved by the Board of Directors and authorised for issue on 17 June 2020 and were signed
on its behalf by:




Mr KC Bastian - Director


BASTIAN PLC (REGISTERED NUMBER: 10972150)

COMPANY BALANCE SHEET
28 JUNE 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 - -
Investments 14 3,000,002 3,000,002
Investment property 15 - -
3,000,002 3,000,002

CURRENT ASSETS
Debtors: amounts falling due within one year 17 63,000 62,500

CREDITORS
Amounts falling due within one year 18 12,502 12,502
NET CURRENT ASSETS 50,498 49,998
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,050,500

3,050,000

CAPITAL AND RESERVES
Called up share capital 24 50,000 50,000
Share premium 25 3,000,000 3,000,000
Retained earnings 25 500 -
SHAREHOLDERS' FUNDS 3,050,500 3,050,000

Company's profit for the financial year 398,500 214,000

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 17 June 2020 and were signed
on its behalf by:





Mr KC Bastian - Director


BASTIAN PLC (REGISTERED NUMBER: 10972150)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019

Called up
share Retained Share
capital earnings premium
£    £    £   

Balance at 20 September 2017 - 3,360,251 -

Changes in equity
Issue of share capital 50,000 - 3,000,000
Dividends - (214,000 ) -
Total comprehensive income - 2,999,927 -
Balance at 29 June 2018 50,000 6,146,178 3,000,000

Changes in equity
Dividends - (398,000 ) -
Total comprehensive income - (1,911,086 ) -
Balance at 28 June 2019 50,000 3,837,092 3,000,000
Fair
Merger value Total
reserve reserve equity
£    £    £   

Balance at 20 September 2017 (2,950,001 ) - 410,250

Changes in equity
Issue of share capital - - 3,050,000
Dividends - - (214,000 )
Total comprehensive income - 75,091 3,075,018
Balance at 29 June 2018 (2,950,001 ) 75,091 6,321,268

Changes in equity
Dividends - - (398,000 )
Total comprehensive income - 177,068 (1,734,018 )
Balance at 28 June 2019 (2,950,001 ) 252,159 4,189,250

BASTIAN PLC (REGISTERED NUMBER: 10972150)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   

Changes in equity
Issue of share capital 50,000 - 3,000,000 3,050,000
Dividends - (214,000 ) - (214,000 )
Total comprehensive income - 214,000 - 214,000
Balance at 29 June 2018 50,000 - 3,000,000 3,050,000

Changes in equity
Dividends - (398,000 ) - (398,000 )
Total comprehensive income - 398,500 - 398,500
Balance at 28 June 2019 50,000 500 3,000,000 3,050,500

BASTIAN PLC (REGISTERED NUMBER: 10972150)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019

Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,124,428 1,184,845
Interest paid (49,518 ) (30,332 )
Interest element of hire purchase payments
paid

(11,554

)

(6,458

)
Tax paid (1,124,580 ) 236,110
Net cash from operating activities 938,776 1,384,165

Cash flows from investing activities
Purchase of intangible fixed assets (375,937 ) (439,741 )
Purchase of tangible fixed assets (236,743 ) (509,743 )
Purchase of investment property (298,864 ) (362,932 )
Sale of tangible fixed assets 32,533 263,991
Opening cash position of acquisitions - 2,404,563
Interest received 106,071 103,255
Net cash from investing activities (772,940 ) 1,459,393

Cash flows from financing activities
New loans in year 3,000 268,000
Loan repayments in year (203,140 ) (193,400 )
Capital repayments in year (43,020 ) (174,073 )
Amount introduced by directors 542,532 415,302
Amount withdrawn by directors (876,945 ) (753,372 )
Net cash from financing activities (577,573 ) (437,543 )

(Decrease)/increase in cash and cash equivalents (411,737 ) 2,406,015
Cash and cash equivalents at beginning of
period

2

2,406,015

-

Cash and cash equivalents at end of period 2 1,994,278 2,406,015

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
£    £   
(Loss)/profit before taxation (1,919,506 ) 4,651,527
Depreciation charges 504,255 272,068
(Profit)/loss on disposal of fixed assets (13,731 ) 194,405
Gain on revaluation of fixed assets (177,068 ) (75,091 )
Finance costs 61,072 36,790
Finance income (106,071 ) (103,255 )
(1,651,049 ) 4,976,444
Decrease/(increase) in stocks 3,004 (774,864 )
Increase in trade and other debtors (4,354,133 ) (15,918,662 )
Increase in trade and other creditors 8,126,606 12,901,927
Cash generated from operations 2,124,428 1,184,845

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these
Balance Sheet amounts:

Period ended 28 June 2019
28.6.19 30.6.18
£    £   
Cash and cash equivalents 1,994,278 2,406,015
Period ended 29 June 2018
29.6.18 20.9.17
£    £   
Cash and cash equivalents 2,406,015 -

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


1. STATUTORY INFORMATION

The principal activities of Bastian Plc (the company) and its subsidiaries (together, the group) in the period under
review were comprised of the retail and installation of storage heaters and of the sale of domestic electricity and gas
supply.

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

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial
Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The group financial statements consolidate the financial statements of Bastian Plc and all its subsidiary undertakings
drawn up to the accounting period end each year.

The financial statements are presented in Sterling (£).

The group has taken advantage of the following disclosure exemption in preparing these financial statements, as
permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirement of Section 33 Related Party Disclosures paragraph 33.7.

Basis of consolidation
The group financial statements consolidate those of the company and of its subsidiary undertakings drawn up to 28
June 2019. Profits and losses on intra group transactions are eliminated in full. On acquisition of a subsidiary, all of
the subsidiary's assets and liabilities which exist at the date of acquisition are recorded at their fair values reflecting
their condition at that date.

The group has adopted the merger basis of accounting. The merger reserve included in the reserves represent the
difference between the cost of the investment in subsidiary undertakings and the nominal values of the share capital
of those subsidiary undertakings.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the
financial statements.

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


3. ACCOUNTING POLICIES - continued

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires the use of certain accounting estimates, as detailed in the
accounting policies above. It also requires management to exercise judgement in the process of applying the
accounting policies.

The directors are required to make judgements, estimates and assumptions in respect of the carrying amounts 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 relevant. These estimates and their underlying
assumptions are reviewed on an ongoing basis. The key sources of estimation uncertainty are detailed below.

Revenue recognition
Revenue includes an estimate of the sales value of units supplied to customers between the date of the last meter
reading and the period end. This is calculated by reference to data received through third party settlement systems,
together with estimates of consumption not yet processed through settlements and selling price estimates. These
estimates are sensitive to the assumptions used in determining the portion of ales not billed and based on meter
readings at the reporting date.

Turnover
The two revenue streams of the group are recognised as follows;

Retail and installation of storage heaters
Revenue comprises the fair value for the sale of goods and provision of services excluding value added taxes and
represents net invoice value less estimated rebates, returns and settlement discounts.

The company supplies products to customers from its warehouses, under standard terms and conditions. In all cases
revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on
installation of the goods.

Sale of domestic electricity and gas supply
Revenue is recognised on the basis of electricity and gas supplied during the period. Revenue includes an estimate
of the sales value of units supplied to customers between the date of the last meter read and year end date. This
estimate is based on the latest data provided by the industry at a certain point in time and takes into account seasonal
variations and usage patterns. Revenue is recognised net of sales discounts, value added taxes and climate change
levy.

Turnover includes the directors' best estimate of differences between estimated sales and billed sales. All actual
metered consumption data related to customer's electricity consumption received by the end of the period has been
reflected in turnover. Actual metered consumption data relating to the period but received after the period end is not
reflected in turnover. The estimated consumption data is revised over a fourteen month settlement period.

Any unbilled revenue is included in trade revenue, net of related provisions, to the extent that it is considered
recoverable. Accrued revenue supplied since the last billing date is recognised in the balance sheet and is only
netted off against deferred income once it can be matched against specific customer payments.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less
any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life
or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost excluding land
Plant and machinery - 15% on cost
Fixtures and fittings - 25% on cost, 20% on cost and 15% on cost
Motor vehicles - 25% on reducing balance

Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount
may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of fair value
less costs to sell and value-in-use, are recognised as impairment losses. Impairments of revalued assets are treated as
a revaluation decrease. All other impairment losses are recognised in profit and loss.

Investment property
Investment properties for which value can be measured reliably without undue cost or effort on an ongoing basis are
measured at fair value annually with any change recognised in the profit and loss account.

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

Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or
defective items where appropriate.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Statement of
Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or
directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will
be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance
sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of
transaction. Exchange differences are taken into account in arriving at the operating result.

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are
depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of
the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme
are charged to profit or loss in the period to which they relate.

Financial instruments
A financial asset held as an equity instrument is recognised initially at the transaction price, including transaction
costs.

At the end of each reporting period, unlisted equity investments are recorded at fair value, where appropriate, or at
cost less impairment if their fair value cannot be reliably measured. Objective evidence of the impairment of
financial assets is assessed at each period end and any impairment loss recognised in the profit or loss immediately.
Impairment loss is calculated as the difference between the carrying amount of the instrument and the best estimate
of the cash flows expected to be derived from the asset, including sales proceeds if sold, at the balance sheet date.

Investment income is recognised in the financial statements when the company becomes entitled to its share of
profits from the financial instrument.

Derivative financial instruments are recognised using a valuation technique with material movements being
recognised in the profit and loss in the relevant period. Outstanding material derivatives at reporting date are
included under the appropriate format heading in debtors or creditors depending on the nature of the derivative.

The company has a risk management strategy in place and the energy commodities risk arising from fluctuating
energy requirements and market prices is hedged.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at
fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest
method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the
effective interest method.

Going concern
The financial statements have been prepared on the going concern basis. The industry one of the group's
components operates in is volatile and heavily reliant on estimates. Accordingly, the directors have analysed the
going concern status in detail. This analysis, along with confirmed support from group companies and the financial
strength of the other components of the group, has allowed the directors to conclude there is no material uncertainty
in relation to going concern.

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


4. TURNOVER

The turnover and loss (2018 - profit) before taxation are attributable to the principal activities of the group.

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

Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
£    £   
Retail of storage heaters 26,070,952 19,004,738
Domestic energy supply 85,320,095 21,655,480
111,391,047 40,660,218

5. EMPLOYEES AND DIRECTORS
Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
£    £   
Wages and salaries 3,046,671 1,470,095
Social security costs 211,569 158,335
Other pension costs 36,461 91,764
3,294,701 1,720,194

The average number of employees during the period was as follows:
Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18

Management 2 3
Administration 135 98
Sales 28 28
165 129

The average number of employees by undertakings that were proportionately consolidated during the period was
165 (2018 - 129 ) .

Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
£    £   
Directors' remuneration 28,353 45,792
Directors' pension contributions to money purchase schemes - 80,038

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


5. EMPLOYEES AND DIRECTORS - continued

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

6. OPERATING (LOSS)/PROFIT

The operating loss (2018 - operating profit) is stated after charging/(crediting):

Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
£    £   
Hire of plant and machinery 17,380 4,361
Depreciation - owned assets 247,197 321,454
Depreciation - assets on hire purchase contracts 134,706 135,004
(Profit)/loss on disposal of fixed assets (13,731 ) 194,405
Development costs amortisation 122,352 -
Auditors remuneration 24,880 24,250

7. EXCEPTIONAL ITEMS
Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
£    £   
Connected company balance
written off (994,463 ) -

The exceptional item in the year arose due to the forgiveness of the debt due by a connected company.

8. INTEREST PAYABLE AND SIMILAR EXPENSES
Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
£    £   
Bank interest 2,544 682
Bank loan interest 46,974 29,650
Hire purchase 11,554 6,458
61,072 36,790

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


9. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the period was as follows:
Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
£    £   
Current tax:
UK corporation tax 47,352 780,058
Prior year
UK corporation tax (217,262 ) 616,055
Total current tax (169,910 ) 1,396,113

Deferred taxation (15,578 ) 180,396
Tax on (loss)/profit (185,488 ) 1,576,509

UK corporation tax has been charged at 19 % (2018 - 19 %).

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is
explained below:

Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
£    £   
(Loss)/profit before tax (1,919,506 ) 4,651,527
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
19 % (2018 - 19 %)

(364,706

)

883,790

Effects of:
Expenses not deductible for tax purposes 5,984 8,468
Income not taxable for tax purposes (34,335 ) (54,244 )
Depreciation in excess of capital allowances 1,427 297,186
Utilisation of tax losses 223,762 (174,746 )
Adjustments to tax charge in respect of previous periods (217,262 ) 616,055
Exceptional item 199,642 -
Total tax (credit)/charge (185,488 ) 1,576,509

10. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not
presented as part of these financial statements.


BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


11. DIVIDENDS
Period Period
30.6.18 20.9.17
to to
28.6.19 29.6.18
£    £   
Ordinary shares of £1 each
Interim 398,000 214,000

12. INTANGIBLE FIXED ASSETS

Group
Development
costs
£   
COST
At 30 June 2018 439,741
Additions 375,937
At 28 June 2019 815,678
AMORTISATION
Amortisation for period 122,352
At 28 June 2019 122,352
NET BOOK VALUE
At 28 June 2019 693,326
At 29 June 2018 439,741

During the period, costs relating to the development of the Customer Relationship Management system, an asset
central to the sales of one of the entities in the group, were capitalised.

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


13. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 30 June 2018 2,912,935 51,746 968,310 944,619 4,877,610
Additions 31,645 18,958 124,107 62,033 236,743
Disposals - - (1,515 ) (209,346 ) (210,861 )
At 28 June 2019 2,944,580 70,704 1,090,902 797,306 4,903,492
DEPRECIATION
At 30 June 2018 137,310 15,184 542,079 547,596 1,242,169
Charge for period 45,062 8,929 162,238 165,674 381,903
Eliminated on disposal - - (217 ) (191,842 ) (192,059 )
At 28 June 2019 182,372 24,113 704,100 521,428 1,432,013
NET BOOK VALUE
At 28 June 2019 2,762,208 46,591 386,802 275,878 3,471,479
At 29 June 2018 2,775,625 36,562 426,231 397,023 3,635,441

Included in cost of land and buildings is freehold land of £529,788 (2018 - £529,788) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 30 June 2018 523,176
Additions 32,033
At 28 June 2019 555,209
DEPRECIATION
At 30 June 2018 215,406
Charge for period 134,706
At 28 June 2019 350,112
NET BOOK VALUE
At 28 June 2019 205,097
At 29 June 2018 307,770

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


14. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 30 June 2018
and 28 June 2019 254,000
NET BOOK VALUE
At 28 June 2019 254,000
At 29 June 2018 254,000
Company
Shares in
group
undertaking
£   
COST
At 30 June 2018
and 28 June 2019 3,000,002
NET BOOK VALUE
At 28 June 2019 3,000,002
At 29 June 2018 3,000,002

The group or the company's investments at the Balance Sheet date in the share capital of companies include the
following:

Subsidiary


One Planets Company (Leicester) Limited
Registered office: Granville Hall, Granville Road, Leicester, United Kingdom, LE1 7RU
Nature of business: Dissolved
%
Class of shares: holding
Ordinary 100.00
30.6.19
£   
Aggregate capital and reserves (28,299 )
Loss for the period/year (28,299 )

One Planets Company (Leicester) Limited was dissolved on 10 December 2019. It ceased to trade prior to the
balance sheet date and therefore the director has prepared the accounts for One Planets Company (Leicester)
Limited on the break up basis.


BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


15. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 30 June 2018 1,452,932
Additions 298,864
Revaluations 177,068
At 28 June 2019 1,928,864
NET BOOK VALUE
At 28 June 2019 1,928,864
At 29 June 2018 1,452,932

Fair value at 28 June 2019 is represented by:

£   
Valuation in 2019 1,928,864

If investment property had not been revalued they would have been included at the following historical cost:

2019 2018
£    £   
Cost 1,676,705 1,377,841

Investment properties were revalued to fair value at 29 June 2019, based on a valuation undertaken by the directors.
The method used for determining fair value was valuing against an active market.

16. STOCKS

Group
2019 2018
£    £   
Stocks 771,860 774,864

During the period, stock amounting to £6,102,902 (2018: £4,605,156) was recognised as an expense.

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


17. DEBTORS

Group Company
2019 2018 2019 2018
£    £    £    £   
Amounts falling due within one year:
Trade debtors 10,990,756 5,921,749 - -
Amounts owed by group undertakings - - 25,500 -
Other debtors 3,505,499 3,616,013 37,500 37,500
Derivative asset 785,007 2,066,504 - -
Directors' current accounts 274,483 338,070 - 25,000
Taxation 240,815 23,553 - -
Prepayments 2,254,632 1,721,005 - -
18,051,192 13,686,894 63,000 62,500

Amounts falling due after more than one year:
Other debtors 2,736,901 2,593,391 - -

Aggregate amounts 20,788,093 16,280,285 63,000 62,500

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2019 2018 2019 2018
£    £    £    £   
Bank loans and overdrafts (see note 20) 205,820 203,019 - -
Hire purchase contracts (see note 21) 2,450 42,245 - -
Trade creditors 9,655,786 6,369,769 - -
Amounts owed to group undertakings - - 12,500 12,500
Taxation 578,548 1,655,776 - -
Paye/Ni payable 54,525 56,384 - -
VAT 456,470 149,387 - -
Other creditors 2,540,504 2,385,412 2 2
Accruals and deferred income 10,879,902 6,499,629 - -
24,374,005 17,361,621 12,502 12,502

19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2019 2018
£    £   
Bank loans (see note 20) 1,282,398 1,488,339
Hire purchase contracts (see note 21) 725 950
1,283,123 1,489,289

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


20. LOANS

An analysis of the maturity of loans is given below:

Group
2019 2018
£    £   
Amounts falling due within one year or on
demand:
Bank loans - less than 1 yr 205,820 203,019
Amounts falling due between two and five
years:
Bank loans - 2-5 years 1,042,992 1,212,220
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more than 5 years
by instalment 239,406 276,119
239,406 276,119

At the balance sheet date, the group had six bank loans.

The first bank loan commenced in 2015. It is repayable over a term of 20 years, having interest charged at a rate of
4.1%.

The second bank loan commenced in 2015. It is repayable over a term of 20 years, having interest charged at 4.1%.

The third bank loan commenced in 2016. It is repayable over a term of 5 years, having interest charged at 2% over
the Bank of England's Base Rate.

The company's fourth loan commenced in 2016. It is repayable over a term of 5 years, with 59 equal monthly
repayments of £8,300 and a final balancing payment at the end of the term. Interest is charged at 2.5% using a 10
year amortisation profile.

The fifth bank loan commenced in 2017. It is repayable over a term of 5 years, having interest charged at a rate of
2% over the Bank of England's Base Rate.

The sixth bank loan commenced in 2017. It is repayable over a term of 5 years, having interest charged at a rate of
2% over the Bank of England's Base Rate.

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


21. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2019 2018
£    £   
Net obligations repayable:
Within one year 2,450 42,245
Between one and five years 725 950
3,175 43,195

Group
Non-cancellable operating
leases
2019 2018
£    £   
Within one year 35,429 35,429
Between one and five years 141,716 141,716
In more than five years 542,583 578,012
719,728 755,157

During the period, operating lease commitments amounting to £35,429 (2018:£40,358) were recognised as an
expense.

22. SECURED DEBTS

The following secured debts are included within creditors:

Group
2019 2018
£    £   
Bank loans 1,488,218 1,691,358
Hire purchase contracts 3,175 43,195
1,491,393 1,734,553

The bank loans of the group are secured on the assets to which they relate, a personal guarantee dated 12 March
2015 from Mr K C Bastian, director, limited to £50,000, a cross charge dated 8 November 2016 and an unlimited
debenture dated 18 March 2015, incorporating a fixed and floating charge.

There is a cross guarantee and debenture dated 8 November 2016 and a limited guarantee from the directors Mr KC
Bastian and Mrs MA Bastian amounting to £100,000 dated 17 February 2017.

The hire purchase contracts are secured on the asset to which they relate.

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


23. PROVISIONS FOR LIABILITIES

Group
2019 2018
£    £   
Deferred tax
Accelerated capital allowances 56,782 71,459
Other timing differences (1,260 ) (359 )
55,522 71,100

Group
Deferred
tax
£   
Balance at 30 June 2018 71,100
Provided during period (15,578 )
Balance at 28 June 2019 55,522

24. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
12,500 Ordinary £1 12,500 12,500

Allotted and issued:
Number: Class: Nominal 2019 2018
value: £    £   
37,500 Ordinary £1 37,500 37,500

Share Premium:

Number:

Class:

Nominal
Value:


£

3,000,000 Ordinary £1 3,000,000

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


25. RESERVES

Group
Fair
Retained Share Merger value
earnings premium reserve reserve Totals
£    £    £    £    £   

At 30 June 2018 6,146,178 3,000,000 (2,950,001 ) 75,091 6,271,268
Deficit for the period (1,734,018 ) (1,734,018 )
Dividends (398,000 ) (398,000 )
Transfer to fair value reserve (177,068 ) - - 177,068 -
At 28 June 2019 3,837,092 3,000,000 (2,950,001 ) 252,159 4,139,250

Company
Retained Share
earnings premium Totals
£    £    £   

At 30 June 2018 - 3,000,000 3,000,000
Profit for the period 398,500 398,500
Dividends (398,000 ) (398,000 )
At 28 June 2019 500 3,000,000 3,000,500


26. PENSION COMMITMENTS

The group operates defined contribution pension schemes. The assets of the schemes are held separately from those
of the group within independently administered funds. The total contributions paid in the year amounted to £36,497
(2018: £92,218). Contributions of £14,047 (2018:£5,211) were unpaid at the year end.

27. ENERGY PURCHASE COMMITMENTS

The group hedges its exposure to changes in market prices from energy purchases.

The group has committed to purchase energy totalling £10,013,346 (2018: £11,072,457) and sell £Nil (2018:
£1,507,536).

The fair value of these forward contracts amounts to £785,007 (2018: £2,066,504) at the balance sheet date.

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


28. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the periods ended 28 June 2019 and 29 June 2018:

2019 2018
£    £   
Mr KC Bastian and Mrs MA Bastian
Balance outstanding at start of period 338,070 -
Amounts advanced 851,945 753,372
Amounts repaid (915,532 ) (415,302 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 274,483 338,070

The loans were interest free and repayable on demand.

BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019


29. RELATED PARTY DISCLOSURES

Fischer Malta Limited
At the balance sheet date the group owed £15,894 (2018: £146,965) to Fischer Malta Limited, a Maltese company
in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold an interest.

Fischer Marketing Malta Limited
At the balance sheet date the group owed £550,633 (2018: £550,633) to Fischer Marketing Malta Limited, a
Maltese company in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold
an interest.

Premier Radiators Malta Limited
At the balance sheet date the group was owed £374,945 (2018: £374,945) by Premier Radiators Malta Limited, a
Maltese company in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold
an interest. This debt was deemed to be non recoverable and written off in the year.

Premier Radiators Ireland Limited
At the balance sheet date the group was owed £67,002 (2018: £67,002) by Premier Radiators Ireland Limited, an
Irish company in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold an
interest. This debt was deemed to be non recoverable and written off in the year.

Premier Radiators Limited
At the balance sheet date the group owed £325,909 (2018:£250,000) to Premier Radiators Limited, an UK company
in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold an interest.

Fischer Future Heat Ireland Limited
At the balance sheet date the group was owed £94,783 (2018: £30,435) by Fischer Future Heat Ireland Malta
Limited, an Irish company in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A
Bastian hold an interest.

During the period, sales amounting to £51,535 (2018:£5,671) were made by the group to Fischer Future Heat
Ireland Limited.

Fischer Vienna
At the balance sheet date the group was owed £6,437 (2018: £2,089) by Fischer Vienna, an Austrian company in
which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold an interest.

Fischer Future Heat Group Limited
At the balance sheet date the group was owed £4,317,642 (2018: £4,161,336) by Fischer Future Heat Group
Limited, an UK company in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A
Bastian hold an interest.

Fischer GmbH Heiz Und Umwelttechnik
At the balance sheet date the group owed £2,472,444 (2018: £1,070,630) to Fischer GmbH Heiz Und
Umwelttechnik, a German company in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs
M A Bastian hold an interest.

During the period, the group made purchases amounting to £5,755,051 (2018:£4,148,928) from Fischer GmbH Heiz
Und Umwelttechnik.

Fischer Future Heat Gmbh
At the balance sheet date the group was owed £2,929,626 (2018: £2,468,141) by Fischer Future Heat GmbH, a
German company in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold
an interest.


BASTIAN PLC (REGISTERED NUMBER: 10972150)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JUNE 2018 TO 28 JUNE 2019

Ekorad Limited
At the balance sheet date the group was owed £23,624 (2018: £87,503) by (2018: to) Ekorad Limited, an UK
company in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold an
interest.

Novorad Limited
At the balance sheet date the group was owed £4,777 (2018: £1,777) by Novorad Limited, an UK company in which
the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold an interest.

During the period, sales amounting to £4,050 were made by the group to Novorad Limited.

Heat Energy Advisory Limited
At the balance sheet date the group owed £427,882 (2018: £21,431) to Heat Energy Advisory Limited, an UK
company in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold an
interest.

During the period, the group made purchases amounting to £5,031,501 (2018: £3,626,560) from Heat Energy
Advisory Limited.

Woodlands Installations Limited
At the balance sheet date the group was owed £266,999 (2018: owed £285,686) from (2018: to) Woodlands
Installations Limited, an UK company in which the directors and shareholders of Bastian Plc, Mr K C Bastian and
Mrs M A Bastian hold an interest.

During the period, the group made purchases amounting to £1,729,849 (2018: £1,384,220) from Woodlands
Installations Limited.

Range Marketing Limited
At the balance sheet date the group was owed £44,222(2018: £28,873) by Range Marketing Limited, an UK
company in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold an
interest.

During the period, the group made purchases amounting to £5,242,981 (2018: £1,384,220) from Range Marketing
Limited.

Fischer Developments (Leicester) Limited
At the balance sheet date the group was owed £2,809 by Fischer Developments (Leicester) Limited, an UK company
in which the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold an interest.

Fischer Commercial Limited
At the balance sheet date the group was owed £20 by Fischer Commercial Limited, an UK company in which the
directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold an interest.

The Bastian Family Discretionary Trust
At the balance sheet date the group was owed £10,944 by The Bastian Family Discretionary Trust, a Trust in which
the directors and shareholders of Bastian Plc, Mr K C Bastian and Mrs M A Bastian hold an interest.

During the period, a total of key management personnel compensation of £ 428,928 (2018 - £ 303,743 ) was paid.

30. POST BALANCE SHEET EVENTS

On 10 December 2019, One Planets Company (Leicester) Limited, a 100% owned subsidiary of Bastian Plc, was
dissolved. It was not considered to be a material component of the group. The director prepared the accounts of One
Planets (Company) Leicester on a break up basis.