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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
4 |
Independent auditor's report to the members |
6 |
Statement of comprehensive income |
10 |
Statement of financial position |
11 |
Statement of changes in equity |
12 |
Statement of cash flows |
13 |
Notes to the financial statements |
14 |
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Strategic Report |
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Director |
Registered office: |
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Directors' Report |
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(Appointed
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(Retired
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Director |
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 |
57a Broadway |
Leigh-on-Sea |
Essex |
SS9 1PE |
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Statement of Comprehensive Income |
2023 |
2022 |
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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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Other operating income |
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------------ |
------------ |
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Operating loss |
5 |
(
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(
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Other interest receivable and similar income |
9 |
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Interest payable and similar expenses |
10 |
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------------ |
------------ |
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Loss before taxation |
(
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(
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Tax on loss |
11 |
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--------- |
--------- |
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Loss for the financial year |
(
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(
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--------- |
--------- |
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Revaluation of tangible assets |
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--------- |
------------ |
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Total comprehensive income for the year |
(
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--------- |
------------ |
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Statement of Financial Position |
2023 |
2022 |
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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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Creditors: amounts falling due within one year |
17 |
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Net current liabilities |
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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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Taxation including deferred tax |
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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Revaluation reserve |
25 |
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Profit and loss account |
25 |
(
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(
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------------ |
------------ |
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Shareholders funds |
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------------ |
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Director |
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Statement of Changes in Equity |
Called up share capital |
Revaluation reserve |
Profit and loss account |
Total |
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Note |
£ |
£ |
£ |
£ |
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At 1 April 2021 |
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Loss for the year |
(
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(
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Other comprehensive income for the year: |
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Revaluation of tangible assets |
12 |
– |
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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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At 31 March 2022 |
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(
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Loss for the year |
(
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(
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Other comprehensive income for the year: |
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Revaluation of tangible assets |
12 |
– |
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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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(
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---- |
------------ |
--------- |
------------ |
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At 31 March 2023 |
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(
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---- |
------------ |
--------- |
------------ |
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Statement of Cash Flows |
2023 |
2022 |
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Note |
£ |
£ |
Loss for the financial year |
(
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(
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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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Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
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Loss on disposal of tangible assets |
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Tax on loss |
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Accrued 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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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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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)/from investing activities |
(
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------------ |
--------- |
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Proceeds from borrowings |
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Proceeds from loans from participating interests |
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– |
Government grant income |
– |
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Payments of finance lease liabilities |
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------------ |
--------- |
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Net cash from financing activities |
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------------ |
--------- |
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Net (decrease)/increase in cash and cash equivalents |
(
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|
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Cash and cash equivalents at beginning of year |
32,705 |
(158,750) |
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--------- |
--------- |
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Cash and cash equivalents at end of year |
16 |
(
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--------- |
--------- |
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Notes to the Financial Statements |
Freehold property |
- |
50 years straight line |
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Plant and machinery |
- |
5 - 20% reducing balance |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
5 - 13 years straight line |
|
2023 |
2022 |
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£ |
£ |
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Sale of goods |
|
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Rendering of services |
|
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------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Depreciation of tangible assets |
|
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Loss on disposal of tangible assets |
|
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Impairment of trade debtors |
35,477 |
(46) |
--------- |
--------- |
|
2023 |
2022 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
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2023 |
2022 |
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No. |
No. |
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Production staff |
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Administrative staff |
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Number of directors |
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---- |
---- |
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---- |
---- |
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2023 |
2022 |
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£ |
£ |
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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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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Remuneration |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Interest on loans and receivables |
5,205 |
11,546 |
------- |
-------- |
|
2023 |
2022 |
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£ |
£ |
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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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2023 |
2022 |
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£ |
£ |
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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 |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Loss on ordinary activities before taxation |
(
|
(
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--------- |
--------- |
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Loss on ordinary activities by rate of tax |
(
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Adjustment to tax charge in respect of prior periods |
(45,021) |
(
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Effect of capital allowances and depreciation |
(
|
(
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Unused tax losses |
|
(
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Tax on revaluation of freehold property |
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--------- |
--------- |
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Tax on loss |
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--------- |
--------- |
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Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
£ |
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Cost or valuation |
|||||
At 1 April 2022 |
|
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Additions |
|
– |
|
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Disposals |
– |
– |
– |
(
|
(
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Revaluations |
|
– |
– |
– |
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------------ |
--------- |
-------- |
------------ |
------------ |
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At 31 March 2023 |
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------------ |
--------- |
-------- |
------------ |
------------ |
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Depreciation |
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At 1 April 2022 |
– |
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Charge for the year |
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Disposals |
– |
– |
– |
(
|
(
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------------ |
--------- |
-------- |
------------ |
------------ |
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At 31 March 2023 |
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------------ |
--------- |
-------- |
------------ |
------------ |
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Carrying amount |
|||||
At 31 March 2023 |
|
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------------ |
--------- |
-------- |
------------ |
------------ |
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At 31 March 2022 |
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------------ |
--------- |
-------- |
------------ |
------------ |
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Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
|
At 31 March 2023 |
|
|
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-------- |
------------ |
------------ |
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At 31 March 2022 |
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-------- |
------------ |
------------ |
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Other investments other than loans |
|
£ |
|
Cost |
|
At 1 April 2022 and 31 March 2023 |
|
-------- |
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Impairment |
|
At 1 April 2022 and 31 March 2023 |
– |
-------- |
|
Carrying amount |
|
At 31 March 2023 |
|
-------- |
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At 31 March 2022 |
|
-------- |
|
2023 |
2022 |
|
£ |
£ |
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Raw materials and consumables |
|
|
-------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
Trade debtors |
|
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Amounts owed by undertakings in which the company has a participating interest |
– |
|
Prepayments and accrued income |
|
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Other debtors |
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------------ |
------------ |
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|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Cash at bank and in hand |
|
|
Bank overdrafts |
(
|
– |
--------- |
-------- |
|
(
|
|
|
--------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Amounts owed to undertakings in which the company has a participating interest |
|
– |
Accruals and deferred income |
|
|
Corporation tax |
– |
|
Social security and other taxes |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
Amounts under factoring agreement |
|
|
Other creditors |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
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2023 |
2022 |
|
£ |
£ |
|
Not later than 1 year |
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Later than 1 year and not later than 5 years |
|
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------------ |
------------ |
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------------ |
------------ |
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Deferred tax (note 21) |
|
£ |
|
At 1 April 2022 |
|
Additions |
|
--------- |
|
At 31 March 2023 |
|
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Included in provisions (note 20) |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Accelerated capital allowances |
|
|
Revaluation of tangible assets |
|
|
Unused tax losses |
(
|
(
|
--------- |
--------- |
|
859,510 |
721,754 |
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Government grants recognised directly in income |
– |
|
---- |
-------- |
|
2023 |
2022 |
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No. |
£ |
No. |
£ |
|
|
100 |
100 |
100 |
100 |
---- |
---- |
---- |
---- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
---- |
---- |
---- |
---- |
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At 1 Apr 2022 |
Cash flows |
At 31 Mar 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(32,205) |
|
Bank overdrafts |
– |
(128,019) |
(128,019) |
Debt due within one year |
(450,930) |
39,070 |
(411,860) |
Debt due after one year |
(1,331,764) |
(2,036,273) |
(3,368,037) |
------------ |
------------ |
------------ |
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(
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(
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(
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------------ |
------------ |
------------ |
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Notes to the Financial Statements (continued) |
2023 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts written off |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
|
– |
(86,041) |
– |
|
|
|
(
|
– |
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--------- |
-------- |
-------- |
-------- |
||
|
(
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(86,041) |
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--------- |
-------- |
-------- |
-------- |
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2022 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts written off |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
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|
– |
|
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– |
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--------- |
------- |
---- |
--------- |
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– |
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--------- |
------- |
---- |
--------- |
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