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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
5 |
Independent auditor's report to the members |
7 |
Consolidated statement of income and retained earnings |
11 |
Company statement of income and retained earnings |
12 |
Consolidated statement of financial position |
13 |
Company statement of financial position |
14 |
Consolidated statement of cash flows |
15 |
Notes to the financial statements |
16 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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103 High Street |
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Waltham Cross |
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Herts |
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EN8 7AN |
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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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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 |
103 High Street |
Waltham Cross |
Herts |
EN8 7AN |
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Consolidated Statement of Income and Retained Earnings |
Period from |
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29 Nov 21 to |
Year to |
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27 Nov 22 |
28 Nov 21 |
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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 loss |
6 |
(
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(
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Loss on financial assets at fair value through profit or loss |
(
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– |
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Other interest receivable and similar income |
10 |
– |
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Interest payable and similar expenses |
11 |
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------------ |
------------ |
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Loss before taxation |
(
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(
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Tax on loss |
12 |
(
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------------ |
--------- |
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Loss for the financial period and total comprehensive income |
(
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(
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------------ |
--------- |
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Retained losses at the start of the period |
(
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(
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------------ |
------------ |
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Retained losses at the end of the period |
(
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(
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------------ |
------------ |
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Company Statement of Income and Retained Earnings |
Period from |
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29 Nov 21 to |
Year to |
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27 Nov 22 |
28 Nov 21 |
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Note |
£ |
£ |
Loss for the financial period and total comprehensive income |
(
|
(
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Retained losses at the start of the period |
(
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(
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--------- |
--------- |
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Retained losses at the end of the period |
(
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(
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--------- |
--------- |
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Consolidated Statement of Financial Position |
27 Nov 22 |
28 Nov 21 |
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Note |
£ |
£ |
Intangible assets |
13 |
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Tangible assets |
14 |
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------------ |
------------ |
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Stocks |
16 |
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Debtors |
17 |
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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 |
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------------ |
------------ |
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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 |
19 |
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Provisions |
21 |
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------------ |
------------ |
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Net (liabilities)/assets |
(
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------------ |
------------ |
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Called up share capital |
24 |
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Share premium account |
25 |
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Other reserves, including the fair value reserve |
25 |
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Profit and loss account |
25 |
(
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(
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------------ |
------------ |
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Shareholders (deficit)/funds |
(
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------------ |
------------ |
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Director |
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Company Statement of Financial Position |
27 Nov 22 |
28 Nov 21 |
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Note |
£ |
£ |
Investments |
15 |
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Debtors |
17 |
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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 |
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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 |
19 |
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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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Share premium account |
25 |
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Other reserves, including the fair value 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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Consolidated Statement of Cash Flows |
27 Nov 22 |
28 Nov 21 |
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£ |
£ |
|
Loss for the financial period |
(
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(
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Adjustments for: |
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Depreciation of tangible assets |
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Impairment of tangible assets |
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– |
Amortisation of intangible assets |
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Loss on financial assets at fair value through profit or loss |
168,651 |
– |
Other interest receivable and similar income |
– |
(
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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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Other operating cash flow adjustment |
(168,651) |
(139,350) |
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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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 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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Proceeds from loans from group undertakings |
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– |
Payments of finance lease liabilities |
(
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------------ |
------------ |
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Net cash (used in)/from financing activities |
(
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------------ |
------------ |
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Net (decrease)/increase in cash and cash equivalents |
(
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Cash and cash equivalents at beginning of period |
1,426,352 |
– |
------------ |
------------ |
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Cash and cash equivalents at end of period |
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------------ |
------------ |
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Notes to the Financial Statements |
Goodwill |
- |
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Short leasehold property |
- |
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Plant and machinery |
- |
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Equipment |
- |
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Period from |
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29 Nov 21 to |
Year to |
|
27 Nov 22 |
28 Nov 21 |
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£ |
£ |
|
Rendering of services |
|
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------------- |
------------ |
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Period from |
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29 Nov 21 to |
Year to |
|
27 Nov 22 |
28 Nov 21 |
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£ |
£ |
|
Other operating income - desc in a/cs |
|
– |
Other operating income |
|
|
--------- |
--------- |
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--------- |
--------- |
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Period from |
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29 Nov 21 to |
Year to |
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27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
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Depreciation of tangible assets |
|
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Administrative expenses |
488,559 |
– |
|
Loss on disposal of tangible assets |
|
– |
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Impairment of trade debtors |
5,184 |
41,527 |
|
--------- |
--------- |
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Period from |
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29 Nov 21 to |
Year to |
|
27 Nov 22 |
28 Nov 21 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
27 Nov 22 |
28 Nov 21 |
|
No. |
No. |
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Administrative staff |
|
|
---- |
---- |
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Period from |
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29 Nov 21 to |
Year to |
|
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
|
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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Period from |
||
29 Nov 21 to |
Year to |
|
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
|
Remuneration |
|
|
--------- |
-------- |
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Period from |
||
29 Nov 21 to |
Year to |
|
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
|
Interest on cash and cash equivalents |
– |
|
---- |
------- |
|
Period from |
||
29 Nov 21 to |
Year to |
|
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Other interest payable and similar charges |
|
|
--------- |
-------- |
|
|
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--------- |
-------- |
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Period from |
||
29 Nov 21 to |
Year to |
|
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
|
UK current tax income |
– |
|
Origination and reversal of timing differences |
(
|
|
-------- |
-------- |
|
Tax on loss |
(
|
|
-------- |
-------- |
|
Period from |
||
29 Nov 21 to |
Year to |
|
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
|
Loss on ordinary activities before taxation |
(
|
(
|
------------ |
--------- |
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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 |
– |
|
Effect of expenses not deductible for tax purposes |
|
(
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Effect of capital allowances and depreciation |
(
|
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Unused tax losses |
|
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Adjustment for deferred tax |
(
|
|
------------ |
--------- |
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Tax on loss |
(
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------------ |
--------- |
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Group |
Goodwill |
£ |
|
Cost |
|
At 29 November 2021 and 27 November 2022 |
|
-------- |
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Amortisation |
|
At 29 November 2021 |
|
Charge for the period |
|
-------- |
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At 27 November 2022 |
|
-------- |
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Carrying amount |
|
At 27 November 2022 |
|
-------- |
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At 28 November 2021 |
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-------- |
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Group |
Short leasehold property |
Plant and machinery |
Fixtures and fittings |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 29 November 2021 |
|
|
|
56,553 |
|
Additions |
|
|
|
25,135 |
|
Disposals |
(
|
(
|
(
|
(
9,154) |
(
|
------------ |
--------- |
------------ |
-------- |
------------ |
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At 27 November 2022 |
|
|
|
72,534 |
|
------------ |
--------- |
------------ |
-------- |
------------ |
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Depreciation |
|||||
At 29 November 2021 |
|
|
|
36,465 |
|
Charge for the period |
|
|
|
9,972 |
|
Impairment losses |
|
– |
|
– |
|
------------ |
--------- |
------------ |
-------- |
------------ |
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At 27 November 2022 |
|
|
|
46,437 |
|
------------ |
--------- |
------------ |
-------- |
------------ |
|
Carrying amount |
|||||
At 27 November 2022 |
|
|
|
26,097 |
|
------------ |
--------- |
------------ |
-------- |
------------ |
|
At 28 November 2021 |
|
|
|
20,088 |
|
------------ |
--------- |
------------ |
-------- |
------------ |
|
Group |
Plant and machinery |
Fixtures and fittings |
Total |
£ |
£ |
£ |
|
At 27 November 2022 |
|
|
|
-------- |
-------- |
-------- |
|
At 28 November 2021 |
– |
– |
– |
-------- |
-------- |
-------- |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 29 November 2021 and 27 November 2022 |
|
------------ |
|
Impairment |
|
At 29 November 2021 and 27 November 2022 |
– |
------------ |
|
Carrying amount |
|
At 29 November 2021 and 27 November 2022 |
|
------------ |
|
At 28 November 2021 |
|
------------ |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
27 Nov 22 |
28 Nov 21 |
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
£ |
£ |
|
Finished goods and goods for resale |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
27 Nov 22 |
28 Nov 21 |
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Amounts owed by group undertakings |
– |
– |
|
– |
Prepayments and accrued income |
|
|
– |
– |
Other debtors |
|
|
– |
– |
--------- |
--------- |
------------ |
---- |
|
|
|
|
– |
|
--------- |
--------- |
------------ |
---- |
|
Group |
Company |
|||
27 Nov 22 |
28 Nov 21 |
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
|
– |
– |
|
Accruals and deferred income |
|
|
|
|
Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
|
|
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
Director loan accounts |
|
– |
– |
– |
Other creditors - desc in a/cs |
|
– |
– |
– |
Other creditors 2 - desc in a/cs |
4
|
– |
– |
– |
Other creditors |
|
|
|
|
------------ |
------------ |
-------- |
--------- |
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------------ |
------------ |
-------- |
--------- |
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Group |
Company |
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27 Nov 22 |
28 Nov 21 |
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
Other creditors |
|
|
|
|
------------ |
------------ |
------------ |
--------- |
|
|
|
|
|
|
------------ |
------------ |
------------ |
--------- |
|
Group |
Company |
|||
27 Nov 22 |
28 Nov 21 |
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
------- |
-------- |
---- |
---- |
|
|
|
– |
– |
|
------- |
-------- |
---- |
---- |
|
Group |
Deferred tax (note 22) |
£ |
|
At 29 November 2021 |
|
Additions |
(
|
--------- |
|
At 27 November 2022 |
|
--------- |
|
Group |
Company |
|||
27 Nov 22 |
28 Nov 21 |
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 21) |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
|
Group |
Company |
|||
27 Nov 22 |
28 Nov 21 |
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
|
27 Nov 22 |
28 Nov 21 |
|||
No. |
£ |
No. |
£ |
|
|
|
19,804 |
|
19,804 |
-------- |
-------- |
-------- |
-------- |
|
27 Nov 22 |
28 Nov 21 |
|||
No. |
£ |
No. |
£ |
|
|
|
19,804 |
|
19,804 |
-------- |
-------- |
-------- |
-------- |
|
27 Nov 22 |
28 Nov 21 |
|||
No. |
£ |
No. |
£ |
|
At 29 Nov 2021 |
Cash flows |
At 27 Nov 2022 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(791,530) |
|
Debt due within one year |
(126,822) |
22,633 |
(104,189) |
Debt due after one year |
(552,909) |
82,217 |
(470,692) |
------------ |
--------- |
--------- |
|
|
(
|
|
|
------------ |
--------- |
--------- |
|
Group |
Company |
|||
27 Nov 22 |
28 Nov 21 |
27 Nov 22 |
28 Nov 21 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
Later than 5 years |
|
|
– |
– |
------------- |
------------- |
---- |
---- |
|
|
|
– |
– |
|
------------- |
------------- |
---- |
---- |
|