|
|
FOR THE PERIOD ENDED |
|
|
CONSOLIDATED FINANCIAL STATEMENTS |
CONTENTS |
PAGES |
Officers and professional advisers |
1 |
Strategic report |
2 to 3 |
Directors' report |
4 to 5 |
Independent auditor's report to the members |
6 to 9 |
Consolidated statement of comprehensive income |
10 |
Consolidated statement of financial position |
11 |
Company statement of financial position |
12 |
Consolidated statement of changes in equity |
13 |
Company statement of changes in equity |
14 |
Consolidated statement of cash flows |
15 |
Notes to the consolidated financial statements |
16 to 26 |
|
OFFICERS AND PROFESSIONAL ADVISERS |
THE BOARD OF DIRECTORS |
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COMPANY SECRETARY |
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REGISTERED OFFICE |
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England |
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AUDITOR |
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Chartered accountants & statutory auditor |
|
20-22 Bridge End |
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Leeds |
|
LS1 4DJ |
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STRATEGIC REPORT |
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Director |
Registered office: |
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England |
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DIRECTORS' REPORT |
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Director |
Registered office: |
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England |
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
|
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(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered accountants & statutory auditor |
20-22 Bridge End |
Leeds |
LS1 4DJ |
|
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME |
Period from |
|||
1 Jan 22 to |
Year to |
||
30 Dec 22 |
31 Dec 21 |
||
Note |
£ |
£ |
|
TURNOVER |
4 |
|
|
Cost of sales |
(
|
(
|
------------- |
------------- |
|
GROSS PROFIT |
|
|
Distribution costs |
(
|
– |
|
Administrative expenses |
(
|
(
|
|
Other operating income |
5 |
|
|
------------ |
------------ |
||
OPERATING PROFIT |
6 |
|
|
Other interest receivable and similar income |
10 |
|
– |
Interest payable and similar expenses |
11 |
(
|
(
|
------------ |
------------ |
||
PROFIT BEFORE TAXATION |
|
|
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Tax on profit |
12 |
(
|
|
--------- |
------------ |
||
PROFIT FOR THE FINANCIAL PERIOD AND TOTAL COMPREHENSIVE INCOME |
|
|
|
--------- |
------------ |
||
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 |
30 Dec 22 |
31 Dec 21 |
|||
Note |
£ |
£ |
||
Tangible assets |
13 |
|
|
||
Stocks |
15 |
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Debtors |
16 |
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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 |
18 |
(
|
(
|
||
------------- |
------------- |
||||
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 |
19 |
(
|
(
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PROVISIONS |
21 |
(
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||
------------- |
------------- |
||||
NET ASSETS |
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|
|||
------------- |
------------- |
||||
Called up share capital |
25 |
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Profit and loss account |
|
|
|||
--------- |
--------- |
||||
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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Director |
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COMPANY STATEMENT OF FINANCIAL POSITION |
30 Dec 22 |
31 Dec 21 |
|||
Note |
£ |
£ |
||
Investments |
14 |
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|
||
Debtors |
16 |
|
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||
Cash at bank and in hand |
|
|
|||
------------- |
------------- |
||||
|
|
||||
CREDITORS: amounts falling due within one year |
18 |
(
|
(
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||
------------- |
------------- |
||||
NET CURRENT LIABILITIES |
(
|
(
|
|||
------------ |
------------ |
||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
(
|
(
|
|||
CREDITORS: amounts falling due after more than one year |
19 |
(
|
– |
||
PROVISIONS |
21 |
– |
|
||
------------ |
------------ |
||||
NET LIABILITIES |
(
|
(
|
|||
------------ |
------------ |
||||
Called up share capital |
25 |
|
|
||
Profit and loss account |
(
|
(
|
|||
------------ |
------------ |
||||
SHAREHOLDERS DEFICIT |
(
|
(
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|||
------------ |
------------ |
||||
|
Director |
|
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 |
|
£ |
£ |
£ |
£ |
£ |
|
AT 1 JANUARY 2021 |
|
(
|
(
|
– |
(
|
Profit for the period |
|
|
|
|
|
---- |
------------ |
------------ |
-------- |
------------ |
|
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
– |
|
|
|
|
AT 31 DECEMBER 2021 |
|
832,348
|
832,548
|
|
916,428
|
Profit for the period |
|
|
|
|
|
---- |
------------ |
------------ |
-------- |
------------ |
|
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
– |
|
|
|
|
---- |
------------ |
------------ |
--------- |
------------ |
|
AT 30 DECEMBER 2022 |
|
|
|
|
|
---- |
------------ |
------------ |
--------- |
------------ |
|
|
COMPANY STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Profit and loss account |
Total |
|
£ |
£ |
£ |
|
AT 1 JANUARY 2021 |
|
(
|
(
|
Loss for the period |
(
|
(
|
|
---- |
------------ |
------------ |
|
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
– |
(
|
(
|
AT 31 DECEMBER 2021 |
|
(
|
(
|
Loss for the period |
(
|
(
|
|
---- |
------------ |
------------ |
|
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
– |
(
|
(
|
---- |
------------ |
------------ |
|
AT 30 DECEMBER 2022 |
|
(
|
(
|
---- |
------------ |
------------ |
|
|
CONSOLIDATED STATEMENT OF CASH FLOWS |
30 Dec 22 |
31 Dec 21 |
|
Note |
£ |
£ |
Profit for the financial period |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Fair value adjustment of investment property |
(
|
(
|
Government grant income |
– |
(
|
Other interest receivable and similar income |
(
|
– |
Interest payable and similar expenses |
|
|
Loss on disposal of tangible assets |
|
|
Tax on loss |
|
(
|
Accrued (income)/expenses |
(
|
|
Changes in: |
||
Stocks |
(
|
(
|
Trade and other debtors |
|
|
Trade and other creditors |
(
|
(
|
------------- |
------------- |
|
Cash generated from operations |
(
|
(
|
Interest paid |
(
|
(
|
Interest received |
|
– |
Tax paid |
– |
(
|
------------- |
------------- |
|
Net cash used in operating activities |
(
|
(
|
------------- |
------------- |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
|
|
------------- |
------------- |
|
Net cash used in investing activities |
(
|
(
|
------------- |
------------- |
|
Proceeds from borrowings |
|
|
Proceeds from loans from group undertakings |
(
|
|
Government grant income |
– |
|
Payments of finance lease liabilities |
|
|
------------- |
------------- |
|
Net cash from financing activities |
|
|
------------- |
------------- |
|
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS |
(
|
|
|
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
1,400,470 |
639,789 |
|
------------ |
------------ |
||
CASH AND CASH EQUIVALENTS AT END OF PERIOD |
17 |
|
|
------------ |
------------ |
||
|
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
Plant and machinery |
- |
Variable, depending on type of asset
|
|
Fixtures and fittings |
- |
Variable, depending on type of asset
|
|
Motor vehicles |
- |
|
|
Computer Equipment |
- |
Variable, depending on type of asset
|
|
Period from |
|||
1 Jan 22 to |
Year to |
||
30 Dec 22 |
31 Dec 21 |
||
£ |
£ |
||
Rendering of services |
|
– |
|
Property sales |
|
|
|
Rental income |
504,283
|
457,910
|
|
------------- |
------------- |
||
|
|
||
------------- |
------------- |
||
Period from |
|||
1 Jan 22 to |
Year to |
||
30 Dec 22 |
31 Dec 21 |
||
£ |
£ |
||
Government grant income |
– |
|
|
Other operating income |
|
– |
|
-------- |
-------- |
||
|
|
||
-------- |
-------- |
||
Period from |
|||
1 Jan 22 to |
Year to |
||
30 Dec 22 |
31 Dec 21 |
||
£ |
£ |
||
Depreciation of tangible assets |
|
|
|
Loss on disposal of tangible assets |
|
|
|
Fair value adjustments to investment property |
(
|
(
|
|
Impairment of trade debtors |
(1,325) |
91,769 |
|
Foreign exchange differences |
(
|
– |
|
--------- |
--------- |
||
Period from |
|||
1 Jan 22 to |
Year to |
||
30 Dec 22 |
31 Dec 21 |
||
£ |
£ |
||
Fees payable for the audit of the consolidated financial statements |
|
|
|
-------- |
-------- |
||
Taxation compliance services |
– |
|
|
Taxation advisory services |
– |
|
|
Other non-audit services |
– |
|
|
-------- |
-------- |
||
– |
26,970 |
||
-------- |
-------- |
||
30 Dec 22 |
31 Dec 21 |
||
No. |
No. |
||
Production staff |
|
– |
|
Administrative staff |
|
|
|
Management staff |
2 |
2 |
|
---- |
---- |
||
|
|
||
---- |
---- |
||
Period from |
|||
1 Jan 22 to |
Year to |
||
30 Dec 22 |
31 Dec 21 |
||
£ |
£ |
||
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
------------ |
------------ |
||
|
|
||
------------ |
------------ |
||
Period from |
|||
1 Jan 22 to |
Year to |
||
30 Dec 22 |
31 Dec 21 |
||
£ |
£ |
||
Remuneration |
|
|
|
Company contributions to defined contribution pension plans |
|
|
|
--------- |
--------- |
||
|
|
||
--------- |
--------- |
||
Period from |
|||
1 Jan 22 to |
Year to |
||
30 Dec 22 |
31 Dec 21 |
||
£ |
£ |
||
Interest on cash and cash equivalents |
|
– |
|
---- |
---- |
||
Period from |
|||
1 Jan 22 to |
Year to |
||
30 Dec 22 |
31 Dec 21 |
||
£ |
£ |
||
Interest on banks loans and overdrafts |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Other loan interest payable |
– |
|
|
Other interest payable and similar charges |
– |
|
|
--------- |
------------ |
||
|
|
||
--------- |
------------ |
||
Period from |
|||
1 Jan 22 to |
Year to |
||
30 Dec 22 |
31 Dec 21 |
||
£ |
£ |
||
UK current tax income |
– |
|
|
R & D claim |
– |
(
|
|
---- |
---- |
||
Total current tax |
– |
|
|
---- |
---- |
||
Origination and reversal of timing differences |
|
(
|
|
--------- |
--------- |
||
Tax on loss |
|
(
|
|
--------- |
--------- |
||
Period from |
|||
1 Jan 22 to |
Year to |
||
30 Dec 22 |
31 Dec 21 |
||
£ |
£ |
||
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 |
(
|
– |
|
Utilisation of tax losses |
|
(
|
|
Other differences leading to an increase/(decrease) in the tax charge |
|
|
|
--------- |
------------ |
||
Tax on loss |
|
(
|
|
--------- |
------------ |
||
Group |
Investment property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Computer Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Jan 2022 |
|
|
|
– |
|
|
Additions |
– |
|
|
|
|
|
Disposals |
– |
(
|
– |
– |
– |
(
|
Revaluations |
|
– |
– |
– |
– |
|
------------ |
------------ |
--------- |
-------- |
-------- |
------------ |
|
At 30 Dec 2022 |
|
|
|
|
|
|
------------ |
------------ |
--------- |
-------- |
-------- |
------------ |
|
Depreciation |
||||||
At 1 Jan 2022 |
– |
|
|
– |
|
|
Charge for the period |
– |
|
|
|
|
|
Disposals |
– |
(
|
– |
– |
– |
(
|
------------ |
------------ |
--------- |
-------- |
-------- |
------------ |
|
At 30 Dec 2022 |
– |
|
|
|
|
|
------------ |
------------ |
--------- |
-------- |
-------- |
------------ |
|
Carrying amount |
||||||
At 30 Dec 2022 |
|
|
|
|
|
|
------------ |
------------ |
--------- |
-------- |
-------- |
------------ |
|
At 31 Dec 2021 |
|
|
|
– |
|
|
------------ |
------------ |
--------- |
-------- |
-------- |
------------ |
|
Company |
Unlisted |
£ |
|
Cost |
|
At 1 January 2022 and 30 December 2022 |
|
---- |
|
Impairment |
|
At 1 January 2022 and 30 December 2022 |
– |
---- |
|
Carrying amount |
|
At 1 January 2022 and 30 December 2022 |
|
---- |
|
At 31 December 2021 |
|
---- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Members interest |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Members interest |
100 |
|
Ordinary |
100 |
|
Members interest |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
75 |
Group |
Company |
|||
30 Dec 22 |
31 Dec 21 |
30 Dec 22 |
31 Dec 21 |
|
£ |
£ |
£ |
£ |
|
Raw materials and consumables |
|
|
– |
– |
Work in progress |
|
|
– |
– |
------------- |
------------- |
---- |
---- |
|
|
|
– |
– |
|
------------- |
------------- |
---- |
---- |
|
Group |
Company |
|||
30 Dec 22 |
31 Dec 21 |
30 Dec 22 |
31 Dec 21 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
|
|
Amounts owed by group undertakings |
– |
|
|
|
Prepayments and accrued income |
|
|
– |
– |
Corporation tax repayable |
|
|
– |
– |
Amounts due from related companies |
|
|
|
|
Other debtors |
|
|
|
|
------------ |
------------ |
------------- |
------------- |
|
|
|
|
|
|
------------ |
------------ |
------------- |
------------- |
|
30 Dec 22 |
31 Dec 21 |
|
£ |
£ |
|
Cash at bank and in hand |
|
|
Bank overdrafts |
(
|
– |
--------- |
------------ |
|
|
|
|
--------- |
------------ |
|
Group |
Company |
|||
30 Dec 22 |
31 Dec 21 |
30 Dec 22 |
31 Dec 21 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
– |
– |
– |
Trade creditors |
|
|
|
|
Amounts owed to group undertakings |
– |
|
|
|
Accruals and deferred income |
|
|
|
(
|
Social security and other taxes |
– |
|
– |
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
Amounts due to related companies |
|
|
|
|
Other loans |
– |
12,023,441
|
– |
11,324,633
|
Other creditors |
|
|
|
|
------------ |
------------- |
------------- |
------------- |
|
|
|
|
|
|
------------ |
------------- |
------------- |
------------- |
|
Group |
Company |
|||
30 Dec 22 |
31 Dec 21 |
30 Dec 22 |
31 Dec 21 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
|
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
------------- |
------------- |
------------ |
---- |
|
|
|
|
– |
|
------------- |
------------- |
------------ |
---- |
|
Group |
Company |
|||
30 Dec 22 |
31 Dec 21 |
30 Dec 22 |
31 Dec 21 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
|
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
Group |
Deferred tax (note 22) |
£ |
|
At 1 January 2022 |
(
|
Additions |
|
--------- |
|
At 30 December 2022 |
|
--------- |
|
Company |
Deferred tax (note 22) |
£ |
|
At 1 January 2022 |
(
|
Additions |
|
--------- |
|
At 30 December 2022 |
– |
--------- |
|
Group |
Company |
|||
30 Dec 22 |
31 Dec 21 |
30 Dec 22 |
31 Dec 21 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 21) |
|
(
|
– |
(
|
--------- |
------- |
---- |
--------- |
|
Group |
Company |
|||
30 Dec 22 |
31 Dec 21 |
30 Dec 22 |
31 Dec 21 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
Fair value adjustment of financial assets |
|
|
– |
– |
Unused tax losses |
– |
(
|
– |
(
|
--------- |
--------- |
---- |
--------- |
|
393,170 |
(6,796) |
– |
(347,716) |
|
--------- |
--------- |
---- |
--------- |
|
Group |
Company |
|||
30 Dec 22 |
31 Dec 21 |
30 Dec 22 |
31 Dec 21 |
|
£ |
£ |
£ |
£ |
|
Government grants recognised directly in income |
– |
|
– |
– |
---- |
-------- |
---- |
---- |
|
30 Dec 22 |
31 Dec 21 |
|||
No. |
£ |
No. |
£ |
|
|
|
200 |
|
200 |
---- |
---- |
---- |
---- |
|
At 1 Jan 2022 |
Cash flows |
At 30 Dec 2022 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(672,955) |
|
Bank overdrafts |
– |
(57,680) |
(57,680) |
Debt due within one year |
(153,905) |
43,077 |
(110,828) |
Debt due after one year |
(28,524,806) |
(37,802,676) |
(66,327,482) |
------------- |
------------- |
------------- |
|
(
|
(
|
(
|
|
------------- |
------------- |
------------- |
|
Group |
Company |
|||
30 Dec 22 |
31 Dec 21 |
30 Dec 22 |
31 Dec 21 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
Later than 5 years |
|
|
– |
– |
------------ |
------------ |
---- |
---- |
|
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|