|
|
|
|
FINANCIAL STATEMENTS |
Contents |
Pages |
|
OFFICERS AND PROFESSIONAL ADVISERS |
The board of directors |
|
|
|
|
|
Company secretary |
|
Registered office |
|
|
|
|
|
|
|
Auditor |
|
Chartered Accountants & statutory auditor |
|
35 Westgate |
|
Huddersfield |
|
HD1 1PA |
|
Bankers |
|
2 Cloth Hall Street |
|
Huddersfield |
|
West Yorkshire |
|
HD1 2ES |
|
Solicitors |
|
14 High Street |
|
Huddersfield |
|
HD1 2HA |
|
|
STRATEGIC REPORT |
|
Director |
|
DIRECTORS' REPORT |
|
|
|
|
|
|
|
Director |
|
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered Accountants & statutory auditor |
35 Westgate |
Huddersfield |
HD1 1PA |
|
STATEMENT OF COMPREHENSIVE INCOME |
2023 |
2022 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
(
|
(
|
------------ |
------------ |
|
Gross profit |
|
|
Administrative expenses |
(
|
(
|
|
Other operating income |
|
|
|
------------ |
------------ |
||
Operating profit |
5 |
|
|
Gain on financial assets at fair value through profit or loss |
|
– |
|
Interest receivable and similar income |
9 |
|
|
Interest payable and similar expenses |
10 |
(
|
(
|
------------ |
------------ |
||
Profit before taxation |
|
|
|
Tax on profit |
11 |
(
|
(
|
------------ |
------------ |
||
Profit for the financial year and total comprehensive income |
|
|
|
------------ |
------------ |
||
|
STATEMENT OF FINANCIAL POSITION |
2023 |
2022 |
|
Note |
£ |
£ |
Intangible assets |
13 |
|
|
Tangible assets |
14 |
|
|
------------ |
------------ |
||
|
|
||
Stocks |
15 |
|
|
Debtors |
16 |
|
|
Investments |
17 |
|
– |
Cash at bank and in hand |
|
|
|
------------ |
------------ |
||
|
|
||
Creditors: amounts falling due within one year |
18 |
(
|
(
|
------------ |
------------ |
||
Net current assets |
|
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
|
|
Taxation including deferred tax |
19 |
(
|
(
|
------------ |
------------ |
||
Net assets |
|
|
|
------------ |
------------ |
||
Called up share capital |
22 |
|
|
Capital redemption reserve |
23 |
|
|
Profit and loss account |
23 |
|
|
------------ |
------------ |
||
Shareholders funds |
|
|
|
------------ |
------------ |
||
|
Director |
|
STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Capital redemption reserve |
Profit and loss account |
Total |
||
£ |
£ |
£ |
£ |
||
At 1 January 2022 |
|
|
|
|
|
Profit for the year |
|
|
|||
------------ |
------------ |
------------ |
------------ |
||
Total comprehensive income for the year |
– |
– |
|
|
|
Dividends paid and payable |
12 |
– |
– |
(
|
(
|
------------ |
------------ |
------------ |
------------ |
||
Total investments by and distributions to owners |
– |
– |
(
|
(
|
|
At 31 December 2022 |
|
|
|
|
|
Profit for the year |
|
|
|||
------------ |
------------ |
------------ |
------------ |
||
Total comprehensive income for the year |
– |
– |
|
|
|
------------ |
------------ |
------------ |
------------ |
||
At 31 December 2023 |
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
||
|
STATEMENT OF CASH FLOWS |
2023 |
2022 |
|
£ |
£ |
|
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Amortisation of intangible assets |
|
|
Gain on financial assets at fair value through profit or loss |
(18,751) |
– |
Interest receivable and similar income |
(
|
(
|
Interest payable and similar expenses |
|
|
Gains on disposal of tangible assets |
(
|
– |
Tax on profit |
|
|
Changes in: |
||
Stocks |
|
(
|
Trade and other debtors |
(
|
(
|
Trade and other creditors |
|
|
------------ |
------------ |
|
Cash generated from operations |
|
|
Interest paid |
(
|
(
|
Interest received |
|
|
Tax paid |
(
|
(
|
------------ |
------------ |
|
Net cash from operating activities |
|
|
------------ |
------------ |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
|
– |
Purchase of intangible assets |
(
|
– |
Purchases of other investments |
(
|
– |
Proceeds from sale of other investments |
|
– |
------------ |
------------ |
|
Net cash used in investing activities |
(
|
(
|
------------ |
------------ |
|
Dividends paid |
– |
(
|
------------ |
------------ |
|
Net cash used in financing activities |
– |
(
|
------------ |
------------ |
|
Net decrease in cash and cash equivalents |
(
|
(
|
Cash and cash equivalents at beginning of year |
2,356,519 |
2,750,272 |
------------ |
------------ |
|
Cash and cash equivalents at end of year |
|
|
------------ |
------------ |
|
|
NOTES TO THE FINANCIAL STATEMENTS |
Website |
- |
|
|
Land and buildings |
- |
|
|
Plant and machinery |
- |
|
|
Computer equipment |
- |
|
|
Motor vehicles |
- |
|
|
Office equipment |
- |
|
|
2023 |
2022 |
|
£ |
£ |
|
Sale of goods |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
United Kingdom |
|
|
Overseas |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
|
– |
Impairment of trade debtors |
5,844 |
7,549 |
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
------------ |
------------ |
|
Other non-audit services |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
No. |
No. |
|
Selling and administrative |
|
|
Manufacturing |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Remuneration |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Aggregate remuneration |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on cash and cash equivalents |
|
|
Other interest receivable and similar income |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Dividends paid on shares classed as debt |
|
|
Other interest payable and similar charges |
– |
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
UK current tax expense |
|
|
Adjustments in respect of prior periods |
(
|
– |
------------ |
------------ |
|
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 |
|
|
Effect of expenses not deductible for tax purposes |
|
|
Rounding on tax charge |
(
199) |
– |
Effect of capital allowances |
(
|
(
|
Ineligible depreciation |
1,391
|
1,124
|
Effect of increased rate of deferred tax |
4,660
|
7,001
|
------------ |
------------ |
|
Tax on profit |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
– |
|
------------ |
------------ |
|
Website |
|
£ |
|
Cost |
|
At 1 January 2023 |
|
Additions |
|
------------ |
|
At 31 December 2023 |
|
------------ |
|
Amortisation |
|
At 1 January 2023 |
|
Charge for the year |
|
------------ |
|
At 31 December 2023 |
|
------------ |
|
Carrying amount |
|
At 31 December 2023 |
|
------------ |
|
At 31 December 2022 |
|
------------ |
|
Land and buildings |
Plant and machinery |
Computer equipment |
Motor vehicles |
Office equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Jan 2023 |
|
|
|
|
|
|
Additions |
|
|
– |
|
|
|
Disposals |
– |
– |
– |
(
|
– |
(
|
------------ |
------------ |
------------ |
------------ |
------------ |
------------ |
|
At 31 Dec 2023 |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
------------ |
------------ |
|
Depreciation |
||||||
At 1 Jan 2023 |
|
|
|
|
|
|
Charge for the year |
|
|
– |
|
|
|
Disposals |
– |
– |
– |
(
|
– |
(
|
------------ |
------------ |
------------ |
------------ |
------------ |
------------ |
|
At 31 Dec 2023 |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
------------ |
------------ |
|
Carrying amount |
||||||
At 31 Dec 2023 |
|
|
– |
|
|
|
------------ |
------------ |
------------ |
------------ |
------------ |
------------ |
|
At 31 Dec 2022 |
|
|
– |
|
|
|
------------ |
------------ |
------------ |
------------ |
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Raw materials |
|
|
Work in progress |
|
|
Finished goods |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Trade debtors |
|
|
Prepayments and accrued income |
|
|
Directors' loan accounts (note 26) |
|
|
Other debtors |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Other investments |
518,365 |
– |
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Trade creditors |
|
|
Accruals and deferred income |
|
|
Corporation tax |
|
|
Social security and other taxes |
|
|
Shares classed as financial liabilities |
|
|
Other creditors |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
Deferred tax (note 20) |
|
£ |
|
At 1 January 2023 |
|
Additions |
|
------------ |
|
At 31 December 2023 |
|
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Included in provisions (note 19) |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Accelerated capital allowances |
|
|
Fair value adjustment of financial assets |
|
– |
Other timing differences |
– |
(
|
------------ |
------------ |
|
197,800 |
118,800 |
|
------------ |
------------ |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
448 |
|
448 |
|
|
147 |
|
147 |
|
|
1 |
|
1 |
|
|
1 |
|
1 |
Ordinary 'E' shares of £1 each |
1 |
1 |
1 |
1 |
Ordinary 'F' shares of £1 each |
1 |
1 |
1 |
1 |
Ordinary 'G' shares of £1 each |
1 |
1 |
1 |
1 |
Ordinary 'H' shares of £1 each |
1 |
1 |
1 |
1 |
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
500,000 |
|
500,000 |
------------ |
------------ |
------------ |
------------ |
|
At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(60,445) |
|
Current asset investments |
– |
518,365 |
|
------------ |
------------ |
------------ |
|
|
|
|
|
------------ |
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Tangible assets |
|
|
------------ |
------------ |
|