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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Director's report |
3 |
Independent auditor's report to the members |
5 |
Consolidated statement of income and retained earnings |
9 |
Company statement of income and retained earnings |
10 |
Consolidated statement of financial position |
11 |
Company statement of financial position |
12 |
Consolidated statement of cash flows |
13 |
Notes to the financial statements |
14 |
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Officers and Professional Advisers |
Director |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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15E Molesworth Street |
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Cookstown |
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Co. Tyrone |
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BT80 8NX |
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Strategic Report |
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Director |
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Registered office: |
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Director's Report |
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Director |
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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 |
15E Molesworth Street |
Cookstown |
Co. Tyrone |
BT80 8NX |
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Consolidated Statement of Income and Retained Earnings |
2023 |
2022 |
||
Note |
£ |
£ |
|
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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Interest payable and similar expenses |
9 |
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------------ |
------------ |
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Profit before taxation |
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Tax on profit |
10 |
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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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Dividends paid and payable |
11 |
(
|
(
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Retained earnings at the start of the year |
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------------ |
------------ |
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Retained earnings at the end of the year |
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------------ |
------------ |
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Company Statement of Income and Retained Earnings |
2023 |
2022 |
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Note |
£ |
£ |
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
11 |
(
|
(
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Retained earnings at the start of the year |
|
|
------------ |
------------ |
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Retained earnings at the end of the year |
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2,801,278
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------------ |
------------ |
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Consolidated Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Intangible assets |
12 |
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Tangible assets |
13 |
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Investments |
14 |
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------------ |
------------ |
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Debtors |
15 |
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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 |
16 |
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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 |
17 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
20 |
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Profit and loss account |
21 |
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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 |
£ |
£ |
Tangible assets |
13 |
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Investments |
14 |
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------------ |
------------ |
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Debtors |
15 |
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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 |
16 |
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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 |
17 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
20 |
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Profit and loss account |
21 |
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2,801,278
|
------------ |
------------ |
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Shareholders funds |
|
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------------ |
------------ |
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Director |
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Consolidated Statement of Cash Flows |
2023 |
2022 |
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£ |
£ |
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Profit for the financial year |
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Adjustments for: |
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Depreciation of tangible assets |
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Amortisation of intangible assets |
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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 |
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Changes in: |
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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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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 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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Proceeds from borrowings |
(
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(
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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 from/(used in) financing activities |
|
(
|
------------ |
------------ |
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Net increase in cash and cash equivalents |
|
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Cash and cash equivalents at beginning of year |
1,375,599 |
667,965 |
------------ |
------------ |
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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 |
Goodwill |
- |
|
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Freehold 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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|
2023 |
2022 |
|
£ |
£ |
|
Rendering of services |
|
|
------------- |
------------- |
|
2023 |
2022 |
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£ |
£ |
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Other operating income |
|
|
-------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
|
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Loss on disposal of tangible assets |
|
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Foreign exchange differences |
(
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|
--------- |
--------- |
|
2023 |
2022 |
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No. |
No. |
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Production staff |
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|
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Wages and salaries |
|
|
------------ |
------------ |
|
2023 |
2022 |
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£ |
£ |
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Remuneration |
|
|
-------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
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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2023 |
2022 |
|
£ |
£ |
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UK current tax expense |
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Tax on profit |
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|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
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Profit on ordinary activities before taxation |
|
|
------------ |
------------ |
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Profit on ordinary activities by rate of tax |
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Effect of capital allowances and depreciation |
(
|
(
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------------ |
------------ |
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Tax on profit |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
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|
--------- |
--------- |
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Group |
Goodwill |
£ |
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Cost |
|
At 1 November 2022 and 31 October 2023 |
|
--------- |
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Amortisation |
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At 1 November 2022 |
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Charge for the year |
|
--------- |
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At 31 October 2023 |
|
--------- |
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Carrying amount |
|
At 31 October 2023 |
|
--------- |
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At 31 October 2022 |
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--------- |
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Group |
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 1 November 2022 |
|
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Additions |
|
|
– |
|
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Disposals |
– |
– |
– |
(
|
(
|
------------ |
--------- |
--------- |
------------ |
------------ |
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At 31 October 2023 |
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------------ |
--------- |
--------- |
------------ |
------------ |
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Depreciation |
|||||
At 1 November 2022 |
|
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Charge for the year |
|
|
|
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Disposals |
– |
– |
– |
(
|
(
|
------------ |
--------- |
--------- |
------------ |
------------ |
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At 31 October 2023 |
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------------ |
--------- |
--------- |
------------ |
------------ |
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Carrying amount |
|||||
At 31 October 2023 |
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------------ |
--------- |
--------- |
------------ |
------------ |
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At 31 October 2022 |
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------------ |
--------- |
--------- |
------------ |
------------ |
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Company |
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 1 November 2022 |
|
|
|
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Additions |
|
|
– |
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Disposals |
– |
– |
– |
(
|
(
|
--------- |
--------- |
--------- |
------------ |
------------ |
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At 31 October 2023 |
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--------- |
--------- |
--------- |
------------ |
------------ |
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Depreciation |
|||||
At 1 November 2022 |
|
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Charge for the year |
|
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|
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Disposals |
– |
– |
– |
(
|
(
|
--------- |
--------- |
--------- |
------------ |
------------ |
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At 31 October 2023 |
|
|
|
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|
--------- |
--------- |
--------- |
------------ |
------------ |
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Carrying amount |
|||||
At 31 October 2023 |
|
|
|
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|
--------- |
--------- |
--------- |
------------ |
------------ |
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At 31 October 2022 |
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--------- |
--------- |
--------- |
------------ |
------------ |
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Group |
Interests in associates |
£ |
|
Share of net assets/cost |
|
At 1 November 2022 and 31 October 2023 |
|
-------- |
|
Impairment |
|
At 1 November 2022 and 31 October 2023 |
– |
-------- |
|
Carrying amount |
|
At 1 November 2022 and 31 October 2023 |
|
-------- |
|
At 31 October 2022 |
|
-------- |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 November 2022 and 31 October 2023 |
|
--------- |
|
Impairment |
|
At 1 November 2022 and 31 October 2023 |
– |
--------- |
|
Carrying amount |
|
At 1 November 2022 and 31 October 2023 |
|
--------- |
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At 31 October 2022 |
|
--------- |
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Registered office |
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
|||
|
Units A4 & A5 Walsall Enterprise Park |
Ordinary |
100 |
Regal Drive |
|||
Walsall |
|||
WS2 9HQ |
|||
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Unit E Atlas Trading Estate |
Ordinary |
100 |
Bradley Lane |
|||
Bilston |
|||
West Midlands |
|||
WV14 8TJ |
|||
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
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|
Prepayments and accrued income |
|
|
|
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Other debtors |
|
|
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|
------------ |
------------ |
------------ |
------------ |
|
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
|
|
Payments received on account |
(
|
(
|
(
|
(
|
Trade creditors |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Corporation tax |
|
|
|
|
Social security and other taxes |
|
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
|
Other creditors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
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|
------------ |
------------ |
------------ |
------------ |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
|
------------ |
------------ |
------------ |
--------- |
|
|
|
|
|
|
------------ |
------------ |
------------ |
--------- |
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Group |
Company |
|||
2023 |
2022 |
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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|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Financial assets measured at fair value through profit or loss |
6,001,308 |
7,473,599 |
6,001,308 |
5,567,288 |
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Financial liabilities measured at fair value through profit or loss |
2,659,697 |
3,810,384 |
2,659,697 |
2,721,008 |
------------ |
------------ |
------------ |
------------ |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
45,002 |
|
45,002 |
-------- |
-------- |
-------- |
-------- |
|
At 1 Nov 2022 |
Cash flows |
At 31 Oct 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
411,094 |
|
Debt due within one year |
(540,053) |
(110,640) |
(650,693) |
Debt due after one year |
(1,582,500) |
(282,137) |
(1,864,637) |
------------ |
--------- |
------------ |
|
(
|
|
(
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|
------------ |
--------- |
------------ |
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|
Notes to the Financial Statements (continued) |