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REGISTERED NUMBER: 05126771 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Concept Distribution Limited

Concept Distribution Limited (Registered number: 05126771)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Concept Distribution Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr J Waring





REGISTERED OFFICE: 316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE





REGISTERED NUMBER: 05126771 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Concept Distribution Limited (Registered number: 05126771)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,900 -
Tangible assets 5 687,244 692,502
690,144 692,502

CURRENT ASSETS
Stocks 6 1,196,925 1,653,351
Debtors 7 275,880 385,068
Prepayments and accrued income 4,514 3,225
Cash at bank 250,687 76,114
1,728,006 2,117,758
CREDITORS
Amounts falling due within one year 8 431,834 826,165
NET CURRENT ASSETS 1,296,172 1,291,593
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,986,316

1,984,095

CREDITORS
Amounts falling due after more than one
year

9

(161,303

)

(277,175

)

PROVISIONS FOR LIABILITIES (50,077 ) (56,296 )
NET ASSETS 1,774,936 1,650,624

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,773,936 1,649,624
SHAREHOLDERS' FUNDS 1,774,936 1,650,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Concept Distribution Limited (Registered number: 05126771)

Statement of Financial Position - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 July 2024 and were signed by:





Mr J Waring - Director


Concept Distribution Limited (Registered number: 05126771)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Concept Distribution Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal place of business is Unit 10 Leachfield Industrial Estate, Green Lane West, Garstang, Preston, Lancashire, PR3 1PR.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery 25% on cost and 4% on cost
Fixtures and fittings 33% on cost
Motor vehicles 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Concept Distribution Limited (Registered number: 05126771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 3,700
Additions 2,900
At 31 December 2023 6,600
AMORTISATION
At 1 January 2023
and 31 December 2023 3,700
NET BOOK VALUE
At 31 December 2023 2,900
At 31 December 2022 -

Concept Distribution Limited (Registered number: 05126771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 635,000 81,873 12,193 25,700 754,766
Additions - 1,248 1,467 - 2,715
At 31 December 2023 635,000 83,121 13,660 25,700 757,481
DEPRECIATION
At 1 January 2023 - 32,229 12,193 17,842 62,264
Charge for year - 5,434 489 2,050 7,973
At 31 December 2023 - 37,663 12,682 19,892 70,237
NET BOOK VALUE
At 31 December 2023 635,000 45,458 978 5,808 687,244
At 31 December 2022 635,000 49,644 - 7,858 692,502

6. STOCKS
31.12.23 31.12.22
£    £   
Stocks 1,196,925 1,653,351

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 220,575 265,892
Other debtors 55,305 119,176
275,880 385,068

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 96,976 96,980
Other loans - 12,500
Trade creditors 23,190 213,398
Tax 34,020 129,092
Social security and other taxes 4,919 3,743
VAT 30,944 5,852
Other creditors 2,738 2,684
Directors' current accounts 209,200 357,653
Accrued expenses 29,847 4,263
431,834 826,165

Concept Distribution Limited (Registered number: 05126771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 161,303 254,282
Other loans - 1-2 years - 12,500
Other loans - 2-5 years - 10,393
161,303 277,175

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 258,279 351,262

The company has two Enterprise Finance Guarantee - CBILS (Coronavirus Business Interruption Loan Scheme) of £200,000 each. These are supported by the UK Government with the EFG Guarantee, and offered at lower interest rates (3%/3.85% above the Bank of England's Base Rate respectively).

One of the loans is also secured with a debenture over all the property, assets and undertakings of the company.



11. POST BALANCE SHEET EVENTS

The company has entered into legal action against a former customer for passing off and copyright infringement. Therefore, the company has paid out legal costs during the year to protect the company's name and imagery. As at June 2024, both parties are scheduled for a case management conference prior to court.