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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 |
Statement of comprehensive income |
11 |
Statement of financial position |
12 |
Statement of changes in equity |
14 |
Statement of cash flows |
15 |
Notes to the financial statements |
17 |
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OFFICERS AND PROFESSIONAL ADVISERS |
The board of directors |
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Company secretary |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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Equitable House |
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55 Pellon Lane |
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Halifax |
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West Yorkshire |
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HX1 5SP |
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Bankers |
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7 Waterhouse Street |
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Halifax |
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West Yorkshire |
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HX1 1XZ |
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STRATEGIC REPORT |
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Director |
Registered office: |
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DIRECTORS' REPORT |
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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 |
Equitable House |
55 Pellon Lane |
Halifax |
West Yorkshire |
HX1 5SP |
|
STATEMENT OF COMPREHENSIVE INCOME |
Period from |
Period from |
||
29 Oct 22 to |
30 Oct 21 to |
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3 Nov 23 |
28 Oct 22 |
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Note |
£ |
£ |
|
TURNOVER |
4 |
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Cost of sales |
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--------------- |
--------------- |
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GROSS PROFIT |
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Distribution costs |
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Administrative expenses |
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Property rental expenses |
5 |
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------------- |
------------- |
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OPERATING PROFIT |
6 |
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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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PROFIT BEFORE TAXATION |
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Tax on profit |
12 |
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---------- |
---------- |
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PROFIT FOR THE FINANCIAL 53 WEEK PERIOD |
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---------- |
---------- |
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Remeasurement of net defined benefit liability |
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---------- |
---------- |
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TOTAL COMPREHENSIVE INCOME FOR THE 53 WEEK PERIOD |
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---------- |
---------- |
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STATEMENT OF FINANCIAL POSITION |
3 Nov 23 |
28 Oct 22 |
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Note |
£ |
£ |
£ |
£ |
Tangible assets |
14 |
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Investments |
15 |
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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 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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PROVISIONS |
20 |
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------------- |
------------- |
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NET ASSETS EXCLUDING DEFINED BENEFIT PENSION PLAN LIABILITY |
9,492,029 |
9,576,331 |
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Defined benefit pension plan liability |
22 |
(
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(
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------------- |
------------- |
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NET ASSETS INCLUDING DEFINED BENEFIT PENSION PLAN LIABILITY |
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------------- |
------------- |
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STATEMENT OF FINANCIAL POSITION (continued) |
3 Nov 23 |
28 Oct 22 |
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Note |
£ |
£ |
£ |
£ |
Called up share capital |
24 |
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Revaluation reserve |
25 |
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Profit and loss account |
25 |
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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 |
Revaluation reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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AT 30 OCTOBER 2021 |
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Profit for the 53 week period |
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Other comprehensive income for the 53 week period: |
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Remeasurement of net defined benefit liability |
– |
– |
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------- |
---------- |
------------- |
------------- |
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TOTAL COMPREHENSIVE INCOME FOR THE 53 WEEK PERIOD |
– |
– |
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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 28 OCTOBER 2022 |
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Profit for the 53 week period |
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Other comprehensive income for the 53 week period: |
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Reclassification from revaluation reserve to profit and loss account |
– |
(
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– |
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Remeasurement of net defined benefit liability |
– |
– |
|
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------- |
---------- |
------------- |
------------- |
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TOTAL COMPREHENSIVE INCOME FOR THE 53 WEEK PERIOD |
– |
(
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Dividends paid and payable |
13 |
– |
– |
(
|
(
|
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---- |
---- |
---------- |
---------- |
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TOTAL INVESTMENTS BY AND DISTRIBUTIONS TO OWNERS |
– |
– |
(
|
(
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------- |
---------- |
------------- |
------------- |
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AT 3 NOVEMBER 2023 |
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------- |
---------- |
------------- |
------------- |
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STATEMENT OF CASH FLOWS |
3 Nov 23 |
28 Oct 22 |
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£ |
£ |
|
Profit for the financial 53 week period |
|
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Adjustments for: |
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Depreciation of tangible assets |
|
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Fair value adjustment of investment property |
|
(
|
Government grant income |
(
|
(
|
Other interest receivable and similar income |
(
|
(
|
Interest payable and similar expenses |
72,873 |
33,123 |
Gains on disposal of tangible assets |
(
|
– |
Gains on disposal of investment property |
– |
(
|
Tax on profit |
|
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Accrued expenses/(income) |
|
(
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Changes in: |
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Stocks |
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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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------------- |
---------- |
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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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Proceeds from sale of other investments |
– |
|
------------- |
---------- |
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Net cash (used in)/from investing activities |
(
|
|
------------- |
---------- |
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Proceeds from borrowings |
(
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(
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Government grant income |
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Dividends paid |
(
|
(
|
------------- |
---------- |
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Net cash used in financing activities |
(
|
(
|
------------- |
---------- |
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STATEMENT OF CASH FLOWS (continued) |
3 Nov 23 |
28 Oct 22 |
|
Note |
£ |
£ |
NET INCREASE IN CASH AND CASH EQUIVALENTS |
|
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CASH AND CASH EQUIVALENTS AT BEGINNING OF 53 WEEK PERIOD |
3,128,248 |
2,690,037 |
------------- |
------------- |
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CASH AND CASH EQUIVALENTS AT END OF 53 WEEK PERIOD |
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------------- |
------------- |
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NOTES TO THE FINANCIAL STATEMENTS |
Factory improvements |
- |
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Plant and machinery |
- |
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Office equipment |
- |
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Motor vehicles |
- |
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Period from |
Period from |
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29 Oct 22 to |
30 Oct 21 to |
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3 Nov 23 |
28 Oct 22 |
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£ |
£ |
|
Sale of goods |
|
|
--------------- |
--------------- |
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Period from |
Period from |
|
29 Oct 22 to |
30 Oct 21 to |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
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Rental income |
|
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Government grant income |
|
|
Other operating income |
(
|
(
|
--------- |
------- |
|
|
|
|
--------- |
------- |
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Period from |
Period from |
|
29 Oct 22 to |
30 Oct 21 to |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
|
– |
Gains on disposal of investment property |
– |
(
|
Fair value adjustments to investment property |
|
(
|
Impairment of trade debtors |
42,701 |
1,830 |
Foreign exchange differences |
|
|
---------- |
---------- |
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Period from |
Period from |
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29 Oct 22 to |
30 Oct 21 to |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
------- |
------- |
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Other non-audit services |
|
|
------- |
------- |
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3 Nov 23 |
28 Oct 22 |
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No. |
No. |
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Production staff |
|
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Distribution staff |
|
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Administrative staff |
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Management staff |
2 |
3 |
---- |
---- |
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---- |
---- |
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Period from |
Period from |
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29 Oct 22 to |
30 Oct 21 to |
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3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
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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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Period from |
Period from |
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29 Oct 22 to |
30 Oct 21 to |
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3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
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Remuneration |
|
|
Company contributions to defined contribution pension plans |
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|
--------- |
--------- |
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|
|
--------- |
--------- |
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3 Nov 23 |
28 Oct 22 |
|
No. |
No. |
|
Defined contribution plans |
|
|
---- |
---- |
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Period from |
Period from |
|
29 Oct 22 to |
30 Oct 21 to |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Interest on loans and receivables |
13,425 |
15,000 |
Interest on cash and cash equivalents |
|
|
---------- |
--------- |
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---------- |
--------- |
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Period from |
Period from |
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29 Oct 22 to |
30 Oct 21 to |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
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Interest on banks loans and overdrafts |
|
|
Net finance costs in respect of defined benefit pension plans |
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|
--------- |
--------- |
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|
--------- |
--------- |
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Period from |
Period from |
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29 Oct 22 to |
30 Oct 21 to |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
UK current tax expense |
|
|
Adjustments in respect of prior periods |
– |
|
---------- |
---------- |
|
Total current tax |
|
|
---------- |
---------- |
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Origination and reversal of timing differences |
(
|
|
--------- |
---------- |
|
Tax on profit |
|
|
--------- |
---------- |
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Period from |
Period from |
|
29 Oct 22 to |
30 Oct 21 to |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
---------- |
---------- |
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Profit on ordinary activities by rate of tax |
|
|
Effect of expenses not deductible for tax purposes |
|
|
Effect of capital allowances and depreciation |
|
|
Unused tax losses |
– |
|
Tax not due on fair value revaluation |
(
|
(
|
Deferred tax movement |
(36,925)
|
|
Chargeable gains |
– |
12,541
|
Capital losses |
– |
(
|
---------- |
---------- |
|
Tax on profit |
|
|
---------- |
---------- |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Dividends paid during the 53 week period (excluding those for which a liability existed at the end of the prior 53 week period ) |
|
|
---------- |
---------- |
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Long leasehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 29 October 2022 |
|
|
|
|
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Additions |
– |
– |
– |
|
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Disposals |
– |
(
|
– |
(
|
(
|
--------- |
------------- |
--------- |
---------- |
------------- |
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At 3 November 2023 |
|
|
|
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|
--------- |
------------- |
--------- |
---------- |
------------- |
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Depreciation |
|||||
At 29 October 2022 |
|
|
|
|
|
Charge for the 53 week period |
|
|
– |
|
|
Disposals |
– |
(
|
– |
(
|
(
|
--------- |
------------- |
--------- |
---------- |
------------- |
|
At 3 November 2023 |
|
|
|
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|
--------- |
------------- |
--------- |
---------- |
------------- |
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Carrying amount |
|||||
At 3 November 2023 |
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|
--------- |
------------- |
--------- |
---------- |
------------- |
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At 28 October 2022 |
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|
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|
--------- |
------------- |
--------- |
---------- |
------------- |
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Investment property |
|
£ |
|
Cost |
|
At 29 October 2022 |
|
Revaluations |
(
|
------------- |
|
At 3 November 2023 |
|
------------- |
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Impairment |
|
At 29 October 2022 and 3 November 2023 |
– |
------------- |
|
Carrying amount |
|
At 3 November 2023 |
|
------------- |
|
At 28 October 2022 |
|
------------- |
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Investment property |
|
£ |
|
At 3 November 2023 |
|
Aggregate cost |
1,100,344 |
Aggregate depreciation |
– |
------------- |
|
Carrying value |
1,100,344 |
------------- |
|
At 28 October 2022 |
|
Aggregate cost |
1,100,344 |
Aggregate depreciation |
– |
------------- |
|
Carrying value |
1,100,344 |
------------- |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Raw materials and consumables |
|
|
--------- |
---------- |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Trade debtors |
|
|
Prepayments and accrued income |
|
|
Other debtors |
|
|
------------- |
------------- |
|
|
|
|
------------- |
------------- |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Accruals and deferred income |
|
|
Corporation tax |
|
|
Social security and other taxes |
|
|
Gradon Trusts |
|
|
Other creditors |
|
|
------------- |
------------- |
|
|
|
|
------------- |
------------- |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
--------- |
--------- |
|
Deferred tax (note 21) |
|
£ |
|
At 29 October 2022 |
|
Provisions created during the year |
|
Provisions released during the year |
(
|
---------- |
|
At 3 November 2023 |
|
---------- |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Included in provisions (note 20) |
|
|
---------- |
---------- |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Accelerated capital allowances |
|
|
Fair value adjustment of investment property |
|
|
---------- |
---------- |
|
122,061 |
161,486 |
|
---------- |
---------- |
|
2023 | 2022 | ||
£ | £ | ||
Present value of defined benefit obligations | 581,000 | 730,000 | |
Liability recognised in the balance sheet | 581,000 | 730,000 | |
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Present value of defined benefit obligations |
(
|
(
|
---------- |
---------- |
|
|
|
|
---------- |
---------- |
|
3 Nov 23 |
||
£ |
||
At 29 October 2022 |
|
|
Interest expense |
|
|
Remeasurements: |
||
Actuarial gains and losses |
(
|
|
---------- |
||
At 3 November 2023 |
|
|
---------- |
||
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Deferred government grants due within one year |
|
|
---- |
---- |
|
Government grants released to profit or loss |
|
|
---- |
---- |
|
3 Nov 23 |
28 Oct 22 |
|||
No. |
£ |
No. |
£ |
|
|
|
2,000 |
|
2,000 |
------- |
------- |
------- |
------- |
|
At 29 October 2022 |
Cash flows |
At 3 November 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
324,260 |
|
Debt due within one year |
(10,000) |
– |
(10,000) |
Debt due after one year |
(26,667) |
10,000 |
(16,667) |
------------- |
---------- |
------------- |
|
|
|
|
|
------------- |
---------- |
------------- |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Tangible assets |
|
– |
--------- |
---- |
|
3 Nov 23 |
28 Oct 22 |
|
£ |
£ |
|
Not later than 1 year |
|
– |
Later than 1 year and not later than 5 years |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
|
NOTES TO THE FINANCIAL STATEMENTS (continued) |