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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 financial statements |
15 to 25 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Flintshire |
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Auditor |
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Chartered accountants & statutory auditor |
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BSN Associates Limited |
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3B Swallowfield Courtyard |
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Wolverhampton Road |
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Oldbury |
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West Midlands |
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B69 2JG |
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Strategic Report |
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Director |
Registered office: |
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Flintshire |
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Directors' Report |
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Director |
Registered office: |
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Flintshire |
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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 |
BSN Associates Limited |
3B Swallowfield Courtyard |
Wolverhampton Road |
Oldbury |
West Midlands |
B69 2JG |
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Consolidated 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 |
5 |
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– |
------------ |
------------ |
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Operating profit |
6 |
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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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Profit before taxation |
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Tax on profit |
11 |
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--------- |
--------- |
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Profit for the financial year and total comprehensive income |
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--------- |
--------- |
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Consolidated Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
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Tangible assets |
14 |
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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 |
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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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 |
25 |
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Capital redemption reserve |
26 |
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Profit and loss account |
26 |
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------------ |
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Shareholders funds |
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------------ |
------------ |
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Director |
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Company Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
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Investments |
15 |
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------------ |
------------ |
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Total assets less current liabilities |
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------------ |
------------ |
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Called up share capital |
25 |
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Capital redemption reserve |
26 |
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Profit and loss account |
26 |
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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 |
Capital redemption reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 October 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 30 September 2022 |
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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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---- |
---- |
------------ |
------------ |
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At 30 September 2023 |
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---- |
---- |
------------ |
------------ |
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Company Statement of Changes in Equity |
Called up share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
||
At 1 October 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 30 September 2022 |
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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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Redemption of shares |
(
|
|
(
|
(
|
|
---- |
---- |
--------- |
--------- |
||
Total investments by and distributions to owners |
(
|
|
(
|
(
|
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---- |
---- |
------------ |
------------ |
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At 30 September 2023 |
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---- |
---- |
------------ |
------------ |
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Consolidated Statement of Cash Flows |
2023 |
2022 |
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£ |
£ |
|
Profit for the financial year |
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Adjustments for: |
||
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 profit |
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Accrued expenses/(income) |
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(
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Changes in: |
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Trade and other debtors |
(
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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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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 operating activities |
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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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(
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Repayments of borrowings |
(
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(
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Government grant income |
|
– |
Payments of finance lease liabilities |
(
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(
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Dividends paid |
(
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(
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--------- |
--------- |
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Net cash used in financing activities |
(
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(
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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 year |
1,599,107 |
2,522,880 |
------------ |
------------ |
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Cash and cash equivalents at end of year |
|
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------------ |
------------ |
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Notes to the Financial Statements |
Negative Goodwill |
- |
In full on acquisition |
|
Freehold property |
- |
4% - 10% Straight line |
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Laboratory Equipment |
- |
10% - 25% Straight line |
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Tenant's improvements |
- |
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Motor Vehicles |
- |
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Office Equipment |
- |
25
% straight line |
|
2023 |
2022 |
|
£ |
£ |
|
Rendering of services |
|
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------------- |
------------- |
|
2023 |
2022 |
|
£ |
£ |
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Government grant income |
|
– |
------- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
Loss on disposal of tangible assets |
|
– |
Impairment of trade debtors |
– |
(31) |
Auditors fee - audit of the financial statements |
16,650 |
16,408 |
Auditors fee - other non audit costs |
3,600 |
3,548 |
Operating lease rentals |
802,011 |
392,695 |
--------- |
--------- |
|
2023 |
2022 |
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No. |
No. |
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Administrative staff |
|
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Engineers |
60 |
52 |
Laboratory technicians |
16 |
23 |
---- |
---- |
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---- |
---- |
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2023 |
2022 |
|
£ |
£ |
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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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2023 |
2022 |
|
£ |
£ |
|
Remuneration |
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Excess retirement benefits of directors and past directors |
|
|
--------- |
--------- |
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--------- |
--------- |
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2023 |
2022 |
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No. |
No. |
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Defined contribution plans |
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---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
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Aggregate remuneration |
|
|
Company contributions to defined contribution pension plans |
|
|
-------- |
--------- |
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-------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on cash and cash equivalents |
|
|
-------- |
------- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Other interest payable and similar charges |
|
|
-------- |
-------- |
|
|
|
|
-------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
UK current tax income |
|
|
Adjustments in respect of prior periods |
(
|
(
|
--------- |
-------- |
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Total current tax |
|
|
--------- |
-------- |
|
Origination and reversal of timing differences |
|
|
--------- |
-------- |
|
Tax on profit |
|
|
--------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
--------- |
--------- |
|
Profit on ordinary activities by rate of tax |
|
|
Adjustment to tax charge in respect of prior periods |
(
|
(
|
Effect of expenses not deductible for tax purposes |
|
(
|
Rounding on tax charge |
1 |
– |
--------- |
--------- |
|
Tax on profit |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
|
|
-------- |
-------- |
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Group |
Goodwill |
£ |
|
Cost |
|
At 1 October 2022 and 30 September 2023 |
(
|
--------- |
|
Amortisation |
|
At 1 October 2022 and 30 September 2023 |
(
|
--------- |
|
Carrying amount |
|
At 1 October 2022 and 30 September 2023 |
– |
--------- |
|
At 30 September 2022 |
– |
--------- |
|
Group |
Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Oct 2022 |
|
|
|
|
744,325 |
|
Additions |
– |
|
– |
|
44,801 |
|
Disposals |
– |
– |
(
|
– |
(
14,036) |
(
|
--------- |
--------- |
--------- |
-------- |
--------- |
------------ |
|
At 30 Sep 2023 |
|
|
|
|
775,090 |
|
--------- |
--------- |
--------- |
-------- |
--------- |
------------ |
|
Depreciation |
||||||
At 1 Oct 2022 |
|
|
|
|
653,729 |
|
Charge for the year |
|
|
|
|
47,404 |
|
Disposals |
– |
– |
(
|
– |
(
13,859) |
(
|
--------- |
--------- |
--------- |
-------- |
--------- |
------------ |
|
At 30 Sep 2023 |
|
|
|
|
687,274 |
|
--------- |
--------- |
--------- |
-------- |
--------- |
------------ |
|
Carrying amount |
||||||
At 30 Sep 2023 |
|
|
|
|
87,816 |
|
--------- |
--------- |
--------- |
-------- |
--------- |
------------ |
|
At 30 Sep 2022 |
|
|
|
|
90,596 |
|
--------- |
--------- |
--------- |
-------- |
--------- |
------------ |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 October 2022 and 30 September 2023 |
|
------------ |
|
Impairment |
|
At 1 October 2022 and 30 September 2023 |
– |
------------ |
|
Carrying amount |
|
At 1 October 2022 and 30 September 2023 |
|
------------ |
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At 30 September 2022 |
|
------------ |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Prepayments and accrued income |
|
|
– |
– |
------------ |
------------ |
---- |
---- |
|
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Trade creditors |
|
|
– |
– |
Accruals and deferred income |
|
|
– |
– |
Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
|
– |
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
Other creditors |
– |
19,198 |
– |
– |
------------ |
------------ |
---- |
---- |
|
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Accruals and deferred income |
|
– |
– |
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
|
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
|
|
– |
– |
|
-------- |
-------- |
---- |
---- |
|
Group |
Deferred tax (note 21) |
£ |
|
At 1 October 2022 |
|
Additions |
|
-------- |
|
At 30 September 2023 |
|
-------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 20) |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Deferred government grants due within one year |
|
– |
– |
– |
Deferred government grants due after more than one year |
|
– |
– |
– |
-------- |
---- |
---- |
---- |
|
|
– |
– |
– |
|
-------- |
---- |
---- |
---- |
|
Government grants recognised directly in income |
|
– |
– |
– |
------- |
---- |
---- |
---- |
|
Group |
|||
2023 |
2022 |
||
£ |
£ |
||
Other debtors |
2,318,238 |
2,162,425 |
|
------------ |
------------ |
||
Group |
|||
2023 |
2022 |
||
£ |
£ |
||
Bank loans and overdrafts |
266,831 |
461,922 |
|
Trade creditors |
1,027,856 |
1,000,035 |
|
------------ |
------------ |
||
|
|
||
------------ |
------------ |
||
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
26 |
|
29 |
---- |
---- |
---- |
---- |
|
At 1 Oct 2022 |
Cash flows |
At 30 Sep 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
8,459 |
|
Debt due within one year |
(115,342) |
73,957 |
(41,385) |
Debt due after one year |
(371,864) |
126,070 |
(245,794) |
------------ |
--------- |
------------ |
|
|
|
|
|
------------ |
--------- |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
Later than 5 years |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
|
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|