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Group Financial Statements |
Contents |
Pages |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
3 to 4 |
Independent auditor's report to the members |
5 to 8 |
Consolidated statement of comprehensive income |
9 |
Consolidated statement of financial position |
10 |
Company statement of financial position |
11 |
Consolidated statement of changes in equity |
12 |
Company statement of changes in equity |
13 |
Consolidated statement of cash flows |
14 |
Notes to the group financial statements |
15 to 27 |
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Officers and Professional Advisers |
The board of directors |
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Company secretary |
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Registered office |
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Auditor |
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Chartered Accountants & statutory auditor |
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Vantage House |
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2700 Kettering Parkway |
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Kettering Venture Park |
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Kettering |
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Northamptonshire |
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England |
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NN15 6XR |
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Strategic Report |
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Director |
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Directors' Report |
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Mr G Pepper
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Director |
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Independent Auditor's Report to the Members of
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered Accountants & statutory auditor |
Vantage House |
2700 Kettering Parkway |
Kettering Venture Park |
Kettering |
Northamptonshire |
England |
NN15 6XR |
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Consolidated Statement of Comprehensive Income |
2022 |
2021 |
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(restated) |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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------------- |
------------- |
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Gross profit |
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Administrative expenses |
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------------ |
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Operating profit |
5 |
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Other interest receivable and similar income |
8 |
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Interest payable and similar expenses |
9 |
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------------ |
------------ |
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Profit before taxation |
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Tax on profit |
10 |
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------------ |
------------ |
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Profit for the financial period and total comprehensive income |
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------------ |
------------ |
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The owners of the parent company |
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Non-controlling interests |
(
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--------- |
--------- |
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--------- |
--------- |
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Consolidated Statement of Financial Position |
2022 |
2021 |
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(restated) |
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Note |
£ |
£ |
Tangible assets |
12 |
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Stocks |
14 |
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Debtors |
15 |
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Cash at bank and in hand |
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------------- |
------------- |
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Creditors: amounts falling due within one year |
17 |
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------------- |
------------- |
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Net current assets |
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------------ |
------------ |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
18 |
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Provisions |
20 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
24 |
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Profit and loss account |
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------------ |
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Equity attributable to the owners of the parent company |
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Non-controlling interests |
(
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(
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------------ |
------------ |
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------------ |
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Director |
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Company Statement of Financial Position |
2022 |
2021 |
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(restated) |
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Note |
£ |
£ |
Tangible assets |
12 |
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Investments |
13 |
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------------ |
------------ |
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Stocks |
14 |
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Debtors |
15 |
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Cash at bank and in hand |
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------------- |
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Creditors: amounts falling due within one year |
17 |
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Net current assets |
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------------ |
------------ |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
18 |
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Provisions |
20 |
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------------ |
------------ |
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Net assets |
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------------ |
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Called up share capital |
24 |
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Profit and loss account |
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------------ |
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Shareholders funds |
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------------ |
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Director |
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Consolidated Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Equity attributable to the owners of the parent company |
Non-controlling interests |
Total |
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£ |
£ |
£ |
£ |
£ |
||
At 1 November 2020 |
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Profit for the period |
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---- |
------------ |
------------ |
-------- |
------------ |
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Total comprehensive income for the period |
– |
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Dividends paid and payable |
11 |
– |
(
|
(
|
(
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(
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---- |
------------ |
------------ |
-------- |
------------ |
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Total investments by and distributions to owners |
– |
(
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(
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(
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(
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At 31 October 2021 |
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(
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Profit for the period |
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(
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---- |
------------ |
------------ |
-------- |
------------ |
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Total comprehensive income for the period |
– |
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|
(
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Dividends paid and payable |
11 |
– |
(
|
(
|
(
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(
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---- |
--------- |
--------- |
-------- |
--------- |
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Total investments by and distributions to owners |
– |
(
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(
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(
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(
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---- |
------------ |
------------ |
--------- |
------------ |
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At 30 October 2022 |
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(
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---- |
------------ |
------------ |
--------- |
------------ |
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Company Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
||
£ |
£ |
£ |
||
At 1 November 2020 |
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Profit for the period |
|
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---- |
------------ |
------------ |
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Total comprehensive income for the period |
– |
|
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Dividends paid and payable |
11 |
– |
(
|
(
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---- |
------------ |
------------ |
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Total investments by and distributions to owners |
– |
(
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(
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At 31 October 2021 |
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Profit for the period |
|
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---- |
------------ |
------------ |
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Total comprehensive income for the period |
– |
|
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Dividends paid and payable |
11 |
– |
(
|
(
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---- |
--------- |
--------- |
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Total investments by and distributions to owners |
– |
(
|
(
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---- |
------------ |
------------ |
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At 30 October 2022 |
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---- |
------------ |
------------ |
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Consolidated Statement of Cash Flows |
2022 |
2021 |
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(restated) |
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Note |
£ |
£ |
Profit for the financial period |
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Adjustments for: |
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Depreciation of tangible assets |
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Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
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Gains on disposal of tangible assets |
(
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– |
Tax on profit |
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Accrued (income)/expenses |
(
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Other operating cash flow adjustment |
1,632 |
173 |
Changes in: |
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Stocks |
(
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(
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Trade and other debtors |
(
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(
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Trade and other creditors |
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Provisions and employee benefits |
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– |
------------ |
------------ |
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Cash generated from operations |
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(
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Interest paid |
(
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(
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Interest received |
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Tax paid |
(
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(
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------------ |
------------ |
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Net cash from/(used in) operating activities |
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(
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------------ |
------------ |
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Purchase of tangible assets |
(
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(
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Proceeds from sale of tangible assets |
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------------ |
------------ |
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Net cash used in investing activities |
(
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(
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------------ |
------------ |
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Proceeds from borrowings |
(
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Payments of finance lease liabilities |
|
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Dividends paid |
(
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(
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------------ |
------------ |
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Net cash (used in)/from financing activities |
(
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------------ |
------------ |
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Net increase/(decrease) in cash and cash equivalents |
|
(
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Cash and cash equivalents at beginning of period |
64,425 |
538,049 |
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--------- |
--------- |
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Cash and cash equivalents at end of period |
16 |
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--------- |
--------- |
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Notes to the Group Financial Statements |
Plant and Machinery |
- |
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Fixtures & Fittings |
- |
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Motor Vehicles |
- |
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Equipment |
- |
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2022 |
2021 |
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(restated) |
||
£ |
£ |
|
Construction contracts |
|
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------------- |
------------- |
|
2022 |
2021 |
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(restated) |
||
£ |
£ |
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
|
– |
--------- |
--------- |
|
2022 |
2021 |
|
No. |
No. |
|
Production staff |
|
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Administrative staff |
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Management staff |
12 |
20 |
---- |
---- |
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---- |
---- |
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2022 |
2021 |
|
(restated) |
||
£ |
£ |
|
Wages and salaries |
|
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Social security costs |
|
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Other pension costs |
|
|
------------ |
------------ |
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------------ |
------------ |
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2022 |
2021 |
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(restated) |
||
£ |
£ |
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Remuneration |
|
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-------- |
-------- |
|
2022 |
2021 |
|
(restated) |
||
£ |
£ |
|
Interest on loans and receivables |
362,789 |
337,294 |
--------- |
--------- |
|
2022 |
2021 |
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(restated) |
||
£ |
£ |
|
Interest on banks loans and overdrafts |
|
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Interest on obligations under finance leases and hire purchase contracts |
|
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Other interest payable and similar charges |
|
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--------- |
--------- |
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--------- |
--------- |
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2022 |
2021 |
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(restated) |
||
£ |
£ |
|
UK current tax expense |
|
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Origination and reversal of timing differences |
|
|
--------- |
--------- |
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Tax on profit |
|
|
--------- |
--------- |
|
2022 |
2021 |
|
(restated) |
||
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
------------ |
------------ |
|
Profit on ordinary activities by rate of tax |
|
|
Effect of expenses not deductible for tax purposes |
(
|
(
|
Effect of capital allowances and depreciation |
(
|
(
|
Deferred tax |
|
|
------------ |
------------ |
|
Tax on profit |
|
|
------------ |
------------ |
|
2022 |
2021 |
|
(restated) |
||
£ |
£ |
|
Dividends paid during the period (excluding those for which a liability existed at the end of the prior period ) |
|
|
--------- |
--------- |
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Group |
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Nov 2021 (as restated) |
|
|
|
|
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Additions |
– |
|
|
|
|
|
Disposals |
– |
(
|
– |
(
|
– |
(
|
--------- |
------------ |
--------- |
------------ |
-------- |
------------ |
|
At 30 Oct 2022 |
|
|
|
|
|
|
--------- |
------------ |
--------- |
------------ |
-------- |
------------ |
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Depreciation |
||||||
At 1 Nov 2021 |
– |
|
|
|
|
|
Charge for the period |
– |
|
|
|
|
|
Disposals |
– |
(
|
– |
(
|
– |
(
|
--------- |
------------ |
--------- |
------------ |
-------- |
------------ |
|
At 30 Oct 2022 |
– |
|
|
|
|
|
--------- |
------------ |
--------- |
------------ |
-------- |
------------ |
|
Carrying amount |
||||||
At 30 Oct 2022 |
|
|
|
|
|
|
--------- |
------------ |
--------- |
------------ |
-------- |
------------ |
|
At 31 Oct 2021 |
|
|
|
|
|
|
--------- |
------------ |
--------- |
------------ |
-------- |
------------ |
|
Company |
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Nov 2021 (as restated) |
|
|
|
|
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|
Additions |
– |
|
|
|
|
|
Disposals |
– |
(
|
– |
(
|
– |
(
|
--------- |
--------- |
--------- |
------------ |
-------- |
------------ |
|
At 30 Oct 2022 |
|
|
|
|
|
|
--------- |
--------- |
--------- |
------------ |
-------- |
------------ |
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Depreciation |
||||||
At 1 Nov 2021 |
– |
|
|
|
|
|
Charge for the period |
– |
|
|
|
|
|
Disposals |
– |
(
|
– |
(
|
– |
(
|
--------- |
--------- |
--------- |
------------ |
-------- |
------------ |
|
At 30 Oct 2022 |
– |
|
|
|
|
|
--------- |
--------- |
--------- |
------------ |
-------- |
------------ |
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Carrying amount |
||||||
At 30 Oct 2022 |
|
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|
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|
--------- |
--------- |
--------- |
------------ |
-------- |
------------ |
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At 31 Oct 2021 |
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--------- |
--------- |
--------- |
------------ |
-------- |
------------ |
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Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 November 2021 as restated and 30 October 2022 |
|
---- |
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Impairment |
|
At 1 November 2021 as restated and 30 October 2022 |
– |
---- |
|
Carrying amount |
|
At 1 November 2021 and 30 October 2022 |
|
---- |
|
At 31 October 2021 |
|
---- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
80 |
Group |
Company |
|||
2022 |
2021 |
2022 |
2021 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Raw materials and consumables |
|
|
|
|
Work in progress |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2022 |
2021 |
2022 |
2021 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
|
|
Amounts owed by group undertakings |
– |
– |
|
– |
Prepayments and accrued income |
|
|
|
|
Corporation tax repayable |
– |
– |
|
– |
Other debtors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
2022 |
2021 |
|
(restated) |
||
£ |
£ |
|
Cash at bank and in hand |
|
|
Bank overdrafts |
(
|
(
|
--------- |
-------- |
|
|
|
|
--------- |
-------- |
|
Group |
Company |
|||
2022 |
2021 |
2022 |
2021 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
|
|
Trade creditors |
|
|
|
|
Amounts owed to group undertakings |
– |
– |
|
|
Accruals and deferred income |
|
|
|
|
Corporation tax |
|
|
– |
|
Social security and other taxes |
|
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
|
Director loan accounts |
|
|
|
|
Other creditors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2022 |
2021 |
2022 |
2021 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
Group |
Company |
|||
2022 |
2021 |
2022 |
2021 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
|
|
Later than 1 year and not later than 5 years |
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
Group |
Deferred tax (note 21) |
Snagging Provision |
Total |
£ |
£ |
£ |
|
At 1 November 2021 (as restated) |
|
– |
|
Additions |
|
|
|
--------- |
-------- |
--------- |
|
At 30 October 2022 |
|
|
|
--------- |
-------- |
--------- |
|
Company |
Deferred tax (note 21) |
£ |
|
At 1 November 2021 (as restated) |
|
Additions |
|
--------- |
|
At 30 October 2022 |
|
--------- |
|
Group |
Company |
|||
2022 |
2021 |
2022 |
2021 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Included in provisions (note 20) |
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
Group |
Company |
|||
2022 |
2021 |
2022 |
2021 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
2022 |
2021 |
|||
(restated) |
||||
No. |
£ |
No. |
£ |
|
|
|
195 |
|
195 |
|
|
195 |
|
195 |
|
|
195 |
|
195 |
|
|
195 |
|
195 |
---- |
---- |
---- |
---- |
|
|
780 |
|
780 |
|
---- |
---- |
---- |
---- |
|
At 1 Nov 2021 |
Cash flows |
At 30 Oct 2022 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
203,242 |
|
Bank overdrafts |
(573) |
(659) |
(1,232) |
Debt due within one year |
(1,062,304) |
9,155 |
(1,053,149) |
Debt due after one year |
(1,162,326) |
37,475 |
(1,124,851) |
------------ |
--------- |
------------ |
|
(
|
|
(
|
|
------------ |
--------- |
------------ |
|
|
Notes to the Group Financial Statements (continued) |
2022 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
(
|
(
|
|
(
|
|
|
– |
(
|
– |
(
|
|
|
(
|
(
|
|
(
|
|
|
(
|
(
|
|
(
|
|
--------- |
--------- |
--------- |
--------- |
||
(
|
(
|
|
(
|
||
--------- |
--------- |
--------- |
--------- |
||
2021 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
(
|
(
|
|
(
|
|
|
– |
– |
– |
– |
|
|
(
|
(
|
|
(
|
|
|
(
|
(
|
|
(
|
|
--------- |
--------- |
--------- |
--------- |
||
(
|
(
|
|
(
|
||
--------- |
--------- |
--------- |
--------- |
||