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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Director's report |
4 |
Independent auditor's report to the members |
6 |
Profit and loss account |
10 |
Balance sheet |
11 |
Statement of changes in equity |
12 |
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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384 Linthorpe Road |
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Middlesbrough |
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TS5 6HA |
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Strategic Report |
2023 | 2022 | ||
£ | £ | ||
Turnover | 3,535,166 | 3,824,425 | |
Profit after tax | 881,668 | 925,732 | |
Net assets | 429,927 | 452,879 | |
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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 |
384 Linthorpe Road |
Middlesbrough |
TS5 6HA |
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Profit and Loss Account |
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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------------ |
------------ |
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Gross profit |
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Administrative expenses |
(
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(
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Other operating income |
5 |
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------------ |
------------ |
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Operating profit |
6 |
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Gain/(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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------------ |
------------ |
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Profit before taxation |
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Tax on profit |
12 |
(
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(
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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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Balance Sheet |
2023 |
2022 |
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Note |
£ |
£ |
Tangible assets |
14 |
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Investments |
15 |
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--------- |
--------- |
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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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--------- |
--------- |
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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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(
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Provisions |
19 |
(
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(
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--------- |
--------- |
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Net assets |
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--------- |
--------- |
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Called up share capital |
23 |
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Investment fair value reserve |
24 |
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Profit and loss account |
24 |
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--------- |
--------- |
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Shareholders funds |
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--------- |
--------- |
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Director |
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Statement of Changes in Equity |
Called up share capital |
Investment fair value reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 January 2022 |
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Profit for the year |
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Other comprehensive income for the year: |
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Transfer between fair value and profit and loss reserves |
– |
(
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– |
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---- |
-------- |
--------- |
--------- |
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Total comprehensive income for the year |
– |
(
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Dividends paid and payable |
13 |
– |
– |
(
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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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At 31 December 2022 |
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Profit for the year |
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Other comprehensive income for the year: |
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Transfer between fair value and profit and loss reserves |
– |
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(
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– |
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---- |
-------- |
--------- |
--------- |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
13 |
– |
– |
(
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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 31 December 2023 |
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---- |
-------- |
--------- |
--------- |
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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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(Gain)/loss on financial assets at fair value through profit or loss |
(23,634) |
10,585 |
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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– |
Purchases of other investments |
(
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(
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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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Proceeds from loans from group undertakings |
(
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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 decrease in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
252,696 |
316,374 |
--------- |
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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 |
Fixtures and fittings |
- |
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Equipment |
- |
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2023 |
2022 |
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£ |
£ |
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Rendering of services |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Management charges receivable |
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--------- |
-------- |
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2023 |
2022 |
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£ |
£ |
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Depreciation of tangible assets |
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Loss on disposal of tangible assets |
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– |
Impairment of trade debtors |
(7,940) |
– |
Foreign exchange differences |
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– |
-------- |
------- |
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2023 |
2022 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
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------- |
------- |
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2023 |
2022 |
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No. |
No. |
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Administrative staff |
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---- |
---- |
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2023 |
2022 |
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£ |
£ |
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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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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Remuneration |
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Company contributions to defined contribution pension plans |
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– |
-------- |
------- |
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-------- |
------- |
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2023 |
2022 |
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£ |
£ |
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Interest on cash and cash equivalents |
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------- |
---- |
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2023 |
2022 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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Other interest payable and similar charges |
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– |
------- |
-------- |
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------- |
-------- |
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2023 |
2022 |
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£ |
£ |
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UK current tax expense |
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Adjustments in respect of prior periods |
– |
(
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--------- |
--------- |
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Total current tax |
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--------- |
--------- |
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Origination and reversal of timing differences |
(
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--------- |
--------- |
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Tax on profit |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Profit on ordinary activities before taxation |
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------------ |
------------ |
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Profit on ordinary activities by rate of tax |
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Adjustment to tax charge in respect of prior periods |
– |
(
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Effect of expenses not deductible for tax purposes |
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Effect of capital allowances and depreciation |
(
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Effect of revenue exempt from tax |
(
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– |
Deferred tax movement |
(
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------------ |
------------ |
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Tax on profit |
|
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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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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Fixtures and fittings |
Equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 January 2023 |
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Additions |
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Disposals |
– |
(
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(
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-------- |
-------- |
-------- |
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At 31 December 2023 |
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-------- |
-------- |
-------- |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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Disposals |
– |
(
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(
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-------- |
-------- |
-------- |
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At 31 December 2023 |
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-------- |
-------- |
-------- |
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Carrying amount |
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At 31 December 2023 |
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-------- |
-------- |
-------- |
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At 31 December 2022 |
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-------- |
-------- |
-------- |
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Listed investments |
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£ |
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Cost |
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At 1 January 2023 |
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Additions |
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Revaluations |
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--------- |
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At 31 December 2023 |
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--------- |
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Impairment |
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At 1 January 2023 and 31 December 2023 |
– |
--------- |
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Carrying amount |
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At 31 December 2023 |
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--------- |
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At 31 December 2022 |
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--------- |
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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Amounts owed by connected parties |
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– |
Prepayments and accrued income |
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--------- |
--------- |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to connected parties |
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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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--------- |
--------- |
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--------- |
--------- |
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2023 |
2022 |
|
£ |
£ |
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Bank loans and overdrafts |
|
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-------- |
-------- |
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Deferred tax (note 20) |
|
£ |
|
At 1 January 2023 |
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Unused amounts reversed |
(
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------- |
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At 31 December 2023 |
|
------- |
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2023 |
2022 |
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£ |
£ |
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Included in provisions (note 19) |
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------- |
------- |
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2023 |
2022 |
|
£ |
£ |
|
Accelerated capital allowances |
|
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------- |
------- |
|
2023 |
2022 |
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No. |
£ |
No. |
£ |
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100 |
|
100 |
---- |
---- |
---- |
---- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(183,737) |
|
Debt due within one year |
(151,776) |
40,261 |
(111,515) |
Debt due after one year |
(25,801) |
10,220 |
(15,581) |
--------- |
--------- |
--------- |
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(
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(
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--------- |
--------- |
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Notes to the Financial Statements (continued) |