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For the year ended |
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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Independent auditor's report to the members |
6 |
Statement of comprehensive income |
11 |
Statement of financial position |
12 |
Statement of changes in equity |
13 |
Statement of cash flows |
14 |
Notes to the financial statements |
15 |
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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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Tower House |
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Lucy Tower Street |
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Lincoln |
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LN1 1XW |
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Bankers |
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HSBC Bank plc. |
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84 High Street |
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Scunthorpe |
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North Lincolnshire |
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DN15 6HQ |
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Strategic Report |
2022 | 2021 | ||
£ | £ | ||
Energy Consumption used to calculate emissions (kWh) | 597,735 | 498,116 | |
Emissions in metric tonnes CO2e | |||
Purchased Electricity | 40 | 35 | |
Gas Consumption | 28 | 2 | |
Owned Vehicles | 70 | 80 | |
Total Emissions in metric tonnes CO2e | 138 | 117 | |
Emissions in metric tonnes CO2e per £million of turnover | 3 | 2 | |
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Director |
Company Secretary |
Registered office: |
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Directors' Report |
G J Vaughton
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M Gough
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(Resigned
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Director |
Company Secretary |
Registered office: |
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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 |
Tower House |
Lucy Tower Street |
Lincoln |
LN1 1XW |
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Statement of Comprehensive Income |
2022 |
2021 |
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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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--------------- |
--------------- |
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Gross profit |
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Distribution costs |
(
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(
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Administrative expenses |
(
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(
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Other operating income |
5 |
– |
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--------------- |
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Operating (loss)/profit |
6 |
(
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Interest payable and similar expenses |
10 |
(
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(
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------------- |
--------------- |
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(Loss)/profit before taxation |
(
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Tax on (loss)/profit |
11 |
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(
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---------- |
------------- |
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(Loss)/profit for the financial year and total comprehensive income |
(
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---------- |
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Statement of Financial Position |
2022 |
2021 |
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Note |
£ |
£ |
£ |
Tangible assets |
13 |
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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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Creditors: amounts falling due within one year |
16 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
17 |
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Taxation including deferred tax |
18 |
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--------------- |
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Net assets |
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Called up share capital |
21 |
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Capital redemption reserve |
22 |
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Profit and loss account |
22 |
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Shareholders funds |
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Director |
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Statement of Changes in Equity |
Called up share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 January 2021 |
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Profit for the year |
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------- |
---------- |
-------------- |
-------------- |
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Total comprehensive income for the year |
– |
– |
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Dividends paid and payable |
12 |
– |
– |
(
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(
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Redemption of shares |
(
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(
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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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At 31 December 2021 |
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Loss for the year |
(
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(
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------- |
---------- |
-------------- |
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Total comprehensive income for the year |
– |
– |
(
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(
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Dividends paid and payable |
12 |
– |
– |
(
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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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At 31 December 2022 |
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---- |
---------- |
-------------- |
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Statement of Cash Flows |
2022 |
2021 |
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£ |
£ |
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(Loss)/profit for the financial year |
(
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Adjustments for: |
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Depreciation of tangible assets |
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Government grant income |
– |
(
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Interest payable and similar expenses |
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Tax on (loss)/profit |
(
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Accrued (income)/expenses |
(
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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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(
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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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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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Purchase of own shares |
– |
(
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Proceeds from borrowings |
(
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Repayments of borrowings |
(
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(
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Proceeds from loans from group undertakings |
– |
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Government grant income |
– |
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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 decrease in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
2,402,546 |
4,353,243 |
------------- |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Leasehold property |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
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2022 |
2021 |
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£ |
£ |
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Sale of goods |
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--------------- |
--------------- |
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2022 |
2021 |
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£ |
£ |
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United Kingdom |
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Overseas |
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--------------- |
--------------- |
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--------------- |
--------------- |
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2022 |
2021 |
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£ |
£ |
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Government grant income |
– |
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---- |
--------- |
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2022 |
2021 |
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£ |
£ |
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Depreciation of tangible assets |
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Impairment of trade debtors |
(60,583) |
56,099 |
Operating lease rentals |
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Foreign exchange differences |
(
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Stock write down |
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– |
------------- |
---------- |
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2022 |
2021 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
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--------- |
------- |
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Taxation advisory services |
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Other non-audit services |
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--------- |
------- |
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19,670 |
9,700 |
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--------- |
------- |
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2022 |
2021 |
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No. |
No. |
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Administrative staff |
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Management staff |
6 |
6 |
Sales staff |
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---- |
---- |
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---- |
---- |
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2022 |
2021 |
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£ |
£ |
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Wages and salaries |
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Social security costs |
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------------- |
------------- |
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------------- |
------------- |
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2022 |
2021 |
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£ |
£ |
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Remuneration |
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---------- |
---------- |
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2022 |
2021 |
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£ |
£ |
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Aggregate remuneration |
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---------- |
---------- |
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2022 |
2021 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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---------- |
---------- |
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2022 |
2021 |
|
£ |
£ |
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UK current tax expense |
– |
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Adjustments in respect of prior periods |
(
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--------- |
------------- |
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Total current tax |
(
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--------- |
------------- |
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Origination and reversal of timing differences |
(
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--------- |
------------- |
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Tax on (loss)/profit |
(
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--------- |
------------- |
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2022 |
2021 |
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£ |
£ |
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(Loss)/profit on ordinary activities before taxation |
(
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---------- |
------------- |
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(Loss)/profit on ordinary activities by rate of tax |
(
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Adjustment to tax charge in respect of prior periods |
(
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Effect of expenses not deductible for tax purposes |
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Effect of capital allowances and depreciation |
(
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(
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---------- |
------------- |
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Tax on (loss)/profit |
(
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---------- |
------------- |
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2022 |
2021 |
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£ |
£ |
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Equity dividends on ordinary shares |
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---------- |
--------- |
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Short leasehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 Jan 2022 |
– |
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Additions |
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--------- |
---------- |
---------- |
---------- |
---------- |
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At 31 Dec 2022 |
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--------- |
---------- |
---------- |
---------- |
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Depreciation |
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At 1 Jan 2022 |
– |
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Charge for the year |
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--------- |
---------- |
---------- |
---------- |
---------- |
------------- |
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At 31 Dec 2022 |
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--------- |
---------- |
---------- |
---------- |
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------------- |
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Carrying amount |
||||||
At 31 Dec 2022 |
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--------- |
---------- |
---------- |
---------- |
---------- |
------------- |
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At 31 Dec 2021 |
– |
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|
|
|
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--------- |
---------- |
---------- |
---------- |
---------- |
------------- |
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2022 |
2021 |
|
£ |
£ |
|
Finished goods and goods for resale |
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--------------- |
--------------- |
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2022 |
2021 |
|
£ |
£ |
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Trade debtors |
|
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Deferred tax asset |
|
– |
Prepayments and accrued income |
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Other debtors |
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--------------- |
--------------- |
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--------------- |
--------------- |
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2022 |
2021 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
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Trade creditors |
|
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Accruals and deferred income |
|
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Corporation tax |
– |
|
Social security and other taxes |
|
|
Director loan accounts |
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Other creditors |
|
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--------------- |
--------------- |
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--------------- |
--------------- |
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2022 |
2021 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
------------- |
------------- |
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Deferred tax (note 19) |
|
£ |
|
At 1 January 2022 |
|
Charge against provision |
(
|
---------- |
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At 31 December 2022 |
|
---------- |
|
2022 |
2021 |
|
£ |
£ |
|
Included in debtors (note 15) |
|
– |
Included in provisions (note 18) |
(
|
(
|
---------- |
---------- |
|
(
|
(
|
|
---------- |
---------- |
|
2022 |
2021 |
|
£ |
£ |
|
Accelerated capital allowances |
|
|
--------- |
---------- |
|
2022 |
2021 |
|
£ |
£ |
|
Government grants recognised directly in income |
– |
|
---- |
--------- |
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2022 |
2021 |
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No. |
£ |
No. |
£ |
|
|
|
875 |
|
875 |
|
|
20 |
|
20 |
--------- |
---- |
--------- |
---- |
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--------- |
---- |
--------- |
---- |
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At 1 Jan 2022 |
Cash flows |
At 31 Dec 2022 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(980,850) |
|
Debt due within one year |
(7,435,050) |
3,480,158 |
(3,954,892) |
Debt due after one year |
(2,508,333) |
700,000 |
(1,808,333) |
------------- |
------------- |
------------- |
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(
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|
(
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------------- |
------------- |
------------- |
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2022 |
2021 |
|
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
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Later than 5 years |
|
– |
------------- |
---------- |
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------------- |
---------- |
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