|
|
|
|
Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
2 |
Independent auditor's report to the members |
4 |
Consolidated statement of comprehensive income |
8 |
Consolidated statement of financial position |
9 |
Company statement of financial position |
10 |
Consolidated statement of changes in equity |
11 |
Company statement of changes in equity |
13 |
Consolidated statement of cash flows |
14 |
Notes to the financial statements |
15 |
|
Strategic Report |
|
Director |
Registered office: |
|
|
England |
|
|
Directors' Report |
|
|
|
|
|
Director |
Registered office: |
|
|
England |
|
|
Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered accountants & statutory auditor |
Omega Court |
364-366 Cemetery Road |
Sheffield |
S11 8FT |
|
Consolidated Statement of Comprehensive Income |
2023 |
2022 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
|
|
------------ |
------------ |
|
Gross profit |
|
|
Administrative expenses |
|
|
|
Other operating income |
5 |
|
|
----------- |
----------- |
||
Operating profit |
6 |
|
|
Loss on financial assets at fair value through profit or loss |
(
|
(
|
|
Other interest receivable and similar income |
10 |
|
|
Interest payable and similar expenses |
11 |
|
– |
----------- |
----------- |
||
Profit before taxation |
|
|
|
Tax on profit |
12 |
|
|
--------- |
----------- |
||
Profit for the financial year |
|
|
|
--------- |
----------- |
||
Revaluation of tangible assets |
– |
|
--------- |
----------- |
|
Total comprehensive income for the year |
|
|
--------- |
----------- |
|
|
Consolidated Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Tangible assets |
15 |
|
|
Stocks |
16 |
|
|
Debtors |
17 |
|
|
Investments |
18 |
|
|
Cash at bank and in hand |
|
|
|
------------ |
------------ |
||
|
|
||
Creditors: amounts falling due within one year |
19 |
|
|
------------ |
------------ |
||
Net current assets |
|
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
|
|
Provisions |
20 |
|
|
------------ |
------------ |
||
Net assets |
|
|
|
------------ |
------------ |
||
Called up share capital |
24 |
|
|
Revaluation reserve |
25 |
|
|
Capital redemption reserve |
25 |
|
|
Other reserves, including the fair value reserve |
25 |
|
|
Profit and loss account |
25 |
|
|
------------ |
------------ |
||
Shareholders funds |
|
|
|
------------ |
------------ |
||
|
Director |
|
Company Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Debtors |
17 |
|
|
Investments |
18 |
|
|
Cash at bank and in hand |
|
|
|
----------- |
----------- |
||
|
|
||
Creditors: amounts falling due within one year |
19 |
|
|
----------- |
----------- |
||
Net current assets |
|
|
|
----------- |
----------- |
||
Total assets less current liabilities |
|
|
|
----------- |
----------- |
||
Called up share capital |
24 |
|
|
Capital redemption reserve |
25 |
|
|
Profit and loss account |
25 |
|
|
----------- |
----------- |
||
Shareholders funds |
|
|
|
----------- |
----------- |
||
|
Director |
|
Consolidated Statement of Changes in Equity |
Called up share capital |
Revaluation reserve |
Capital redemption reserve |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
|||
Note |
£ |
£ |
£ |
£ |
£ |
£ |
||
At 1 July 2021 |
|
|
|
|
|
|
||
Profit for the year |
|
|
||||||
Other comprehensive income for the year: |
||||||||
Revaluation of tangible assets |
15 |
– |
|
– |
– |
– |
|
|
Reclassification from revaluation reserve to profit and loss account |
– |
(
|
– |
– |
|
– |
||
Reclassification from fair value reserve to profit and loss account |
– |
– |
– |
506,162
|
(506,162) |
– |
||
--------- |
--------- |
--------- |
--------- |
------------ |
------------ |
|||
Total comprehensive income for the year |
– |
|
– |
|
|
|
||
Dividends paid and payable |
13 |
– |
– |
– |
– |
(
|
(
|
|
--------- |
--------- |
--------- |
--------- |
------------ |
------------ |
|||
Total investments by and distributions to owners |
– |
– |
– |
– |
(
|
(
|
||
At 30 June 2022 |
|
|
|
|
|
|
||
Profit for the year |
|
|
||||||
Other comprehensive income for the year: |
||||||||
Reclassification from revaluation reserve to profit and loss account |
– |
(
|
– |
– |
|
– |
||
Reclassification from fair value reserve to profit and loss account |
– |
– |
– |
(57,743) |
57,743
|
– |
||
--------- |
--------- |
--------- |
----------- |
------------ |
------------ |
|||
Total comprehensive income for the year |
– |
(
|
– |
(
|
|
|
||
|
Consolidated Statement of Changes in Equity (continued) |
Called up share capital |
Revaluation reserve |
Capital redemption reserve |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
||
Note |
£ |
£ |
£ |
£ |
£ |
£ |
|
Dividends paid and payable |
13 |
– |
– |
– |
– |
(
|
(
|
---- |
---- |
---- |
---- |
--------- |
--------- |
||
Total investments by and distributions to owners |
– |
– |
– |
– |
(
|
(
|
|
--------- |
--------- |
--------- |
--------- |
------------ |
------------ |
||
At 30 June 2023 |
|
|
|
|
|
|
|
--------- |
--------- |
--------- |
--------- |
------------ |
------------ |
||
|
Company Statement of Changes in Equity |
Called up share capital |
Capital redemption reserve |
Profit and loss account |
Total |
|
£ |
£ |
£ |
£ |
|
At 1 July 2021 |
|
|
|
|
Loss for the year |
(
|
(
|
||
--------- |
--------- |
--------- |
----------- |
|
Total comprehensive income for the year |
– |
– |
(
|
(
|
At 30 June 2022 |
|
|
|
|
Profit for the year |
– |
– |
||
--------- |
--------- |
--------- |
----------- |
|
At 30 June 2023 |
|
|
|
|
--------- |
--------- |
--------- |
----------- |
|
|
Consolidated Statement of Cash Flows |
2023 |
2022 |
|
£ |
£ |
|
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Gain on financial assets at fair value through profit or loss |
– |
(655,889) |
Other interest receivable and similar income |
(
|
(
|
Interest payable and similar expenses |
|
– |
Gains on disposal of tangible assets |
(
|
(
|
Tax on loss |
|
|
Accrued expenses/(income) |
|
(
|
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)/from operating activities |
(
|
|
--------- |
--------- |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
|
|
Proceeds from sale of other investments |
|
– |
--------- |
--------- |
|
Net cash used in investing activities |
(
|
(
|
--------- |
--------- |
|
Proceeds from borrowings |
|
– |
Dividends paid |
(
|
(
|
--------- |
--------- |
|
Net cash used in financing activities |
(
|
(
|
--------- |
--------- |
|
Net decrease in cash and cash equivalents |
(
|
(
|
Cash and cash equivalents at beginning of year |
11,261,458 |
11,567,305 |
------------ |
------------ |
|
Cash and cash equivalents at end of year |
|
|
------------ |
------------ |
|
|
Notes to the Financial Statements |
Goodwill |
- |
20
%
|
|
Computer software |
- |
|
|
Freehold property |
- |
|
|
Plant and machinery |
- |
|
|
Fixtures and fittings |
- |
|
|
Motor vehicles |
- |
|
|
Equipment |
- |
|
|
2023 |
2022 |
|
£ |
£ |
|
Sale of goods |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
United Kingdom |
|
|
Overseas |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Rental income |
|
|
Other operating income |
|
– |
------- |
------- |
|
|
|
|
------- |
------- |
|
2023 |
2022 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
|
(
|
Impairment of trade debtors |
(3,930) |
1,911 |
Foreign exchange differences |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
------- |
------- |
|
Other non-audit services |
– |
|
------- |
------- |
|
2023 |
2022 |
|
No. |
No. |
|
Production staff |
|
|
Administrative staff |
|
|
Management staff |
3 |
3 |
---- |
---- |
|
|
|
|
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
----------- |
----------- |
|
|
|
|
----------- |
----------- |
|
2023 |
2022 |
|
£ |
£ |
|
Remuneration |
|
|
Company contributions to defined contribution pension plans |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
2023 |
2022 |
|
No. |
No. |
|
Defined contribution plans |
|
|
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on loans and receivables |
26,259 |
27,186 |
Interest on cash and cash equivalents |
|
|
Interest on bank deposits |
|
|
Gain on fair value adjustment of financial assets at fair value through profit or loss |
– |
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Other interest payable and similar charges |
|
– |
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
UK current tax income |
|
|
Origination and reversal of timing differences |
|
|
--------- |
--------- |
|
Tax on loss |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
--------- |
----------- |
|
Profit on ordinary activities by rate of tax |
|
|
Effect of expenses not deductible for tax purposes |
|
– |
Effect of different UK tax rates on some earnings |
72,395 |
– |
Other tax adjustment to increase/(decrease) tax liability |
(
|
(
|
--------- |
----------- |
|
Tax on loss |
|
|
--------- |
----------- |
|
2023 |
2022 |
|
£ |
£ |
|
Dividends |
|
|
--------- |
--------- |
|
Group |
Goodwill |
Computer software |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 July 2022 |
|
|
|
Disposals |
– |
(
|
(
|
--------- |
------- |
--------- |
|
At 30 June 2023 |
|
– |
|
--------- |
------- |
--------- |
|
Amortisation |
|||
At 1 July 2022 |
|
|
|
Disposals |
– |
(
|
(
|
--------- |
------- |
--------- |
|
At 30 June 2023 |
|
– |
|
--------- |
------- |
--------- |
|
Carrying amount |
|||
At 30 June 2023 |
– |
– |
– |
--------- |
------- |
--------- |
|
At 30 June 2022 |
– |
– |
– |
--------- |
------- |
--------- |
|
Group |
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Jul 2022 |
|
|
|
|
|
|
Additions |
– |
|
|
|
|
|
Disposals |
– |
– |
(
|
(
|
(
|
(
|
----------- |
----------- |
------- |
--------- |
--------- |
----------- |
|
At 30 Jun 2023 |
|
|
|
|
|
|
----------- |
----------- |
------- |
--------- |
--------- |
----------- |
|
Depreciation |
||||||
At 1 Jul 2022 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Disposals |
– |
– |
(
|
(
|
(
|
(
|
----------- |
----------- |
------- |
--------- |
--------- |
----------- |
|
At 30 Jun 2023 |
|
|
|
|
|
|
----------- |
----------- |
------- |
--------- |
--------- |
----------- |
|
Carrying amount |
||||||
At 30 Jun 2023 |
|
|
|
|
|
|
----------- |
----------- |
------- |
--------- |
--------- |
----------- |
|
At 30 Jun 2022 |
|
|
|
|
– |
|
----------- |
----------- |
------- |
--------- |
--------- |
----------- |
|
2023 | 2022 | ||
£ | £ | ||
Original cost and additions at cost | 370,283 | 370,283 | |
Valuation in 2002 | 56,632 | 56,632 | |
Valuation in 2010 | 402,176 | 402,176 | |
Valuation in 2015 | (20,000) | (20,000) | |
Valuation in 2022 | 65,909 | 65,909 | |
--------- | --------- | ||
Total | 875,000 | 875,000 | |
--------- | --------- | ||
Group |
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
At 30 Jun 2023 |
||||||
Aggregate cost |
1,172,913 |
4,489,448 |
4,221 |
139,359 |
166,822 |
5,972,763 |
Aggregate depreciation |
(330,690) |
(3,513,653) |
(2,010) |
(88,437) |
(85,020) |
(4,019,810) |
----------- |
----------- |
------ |
--------- |
--------- |
----------- |
|
Carrying value |
|
|
|
|
|
|
----------- |
----------- |
------ |
--------- |
--------- |
----------- |
|
At 30 Jun 2022 |
||||||
Aggregate cost |
1,172,913 |
3,683,739 |
42,554 |
308,911 |
86,393 |
5,294,510 |
Aggregate depreciation |
(312,176) |
(3,344,580) |
(41,347) |
(216,903) |
(86,393) |
(4,001,399) |
----------- |
----------- |
------- |
--------- |
------- |
----------- |
|
Carrying value |
|
|
|
|
– |
|
----------- |
----------- |
------- |
--------- |
------- |
----------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Raw materials and consumables |
|
|
– |
– |
Finished goods and goods for resale |
|
|
– |
– |
----------- |
----------- |
---- |
---- |
|
|
|
– |
– |
|
----------- |
----------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Amounts owed by group undertakings |
– |
– |
|
|
Prepayments and accrued income |
|
|
– |
– |
Other debtors |
|
|
– |
– |
----------- |
----------- |
----------- |
----------- |
|
|
|
|
|
|
----------- |
----------- |
----------- |
----------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Investments in group undertakings |
– |
– |
2,089,474 |
2,089,474 |
Investments in bonds |
391,767 |
502,205 |
– |
– |
--------- |
--------- |
----------- |
----------- |
|
|
|
|
|
|
--------- |
--------- |
----------- |
----------- |
|
Proportion owned |
||
Jepson & Co Limited |
99 |
|
Jepsons Signs Limited |
100 |
|
Degron Limited |
100 |
|
Kenric Plastics Limited |
99 |
|
NP Screws Limited |
99 |
|
Regis Specialised Accessories Limited |
100 |
|
National Numbers Limited |
100 |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
– |
– |
|
|
Accruals and deferred income |
|
|
– |
– |
Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
|
– |
– |
Director loan accounts |
|
– |
– |
– |
Other creditors |
|
|
– |
– |
----------- |
----------- |
----------- |
----------- |
|
|
|
|
|
|
----------- |
----------- |
----------- |
----------- |
|
Group |
Deferred tax (note 21) |
£ |
|
At 1 July 2022 |
|
Additions |
|
--------- |
|
At 30 June 2023 |
|
--------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 20) |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
Revaluation of tangible assets |
|
|
– |
– |
Fair value adjustment of investment property |
|
|
– |
– |
Unused tax losses |
(
|
– |
– |
– |
--------- |
--------- |
---- |
---- |
|
413,442 |
264,434 |
– |
– |
|
--------- |
--------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Financial assets measured at fair value through profit or loss |
17,948,076 |
16,970,388 |
2,257,896 |
2,257,896 |
------------ |
------------ |
----------- |
----------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Financial liabilities measured at fair value through profit or loss |
2,185,860 |
1,700,785 |
3,145,169 |
3,145,169 |
----------- |
----------- |
----------- |
----------- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
446,840 |
|
446,840 |
--------- |
--------- |
--------- |
--------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
At start of year |
|
|
– |
– |
Reclassification from fair value reserve to profit and loss account |
(57,743) |
506,162 |
– |
– |
----------- |
----------- |
---- |
---- |
|
At end of year |
|
|
– |
– |
----------- |
----------- |
---- |
---- |
|
At 1 Jul 2022 |
Cash flows |
At 30 Jun 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(1,357,902) |
|
Debt due within one year |
– |
(10,717) |
(10,717) |
Current asset investments |
|
(110,438) |
|
------------ |
----------- |
------------ |
|
|
(
|
|
|
------------ |
----------- |
------------ |
|