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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Consolidated income statement |
9 |
Consolidated statement of financial position |
10 |
Company statement of financial position |
11 |
Consolidated statement of changes in equity |
12 |
Company statement of changes in equity |
13 |
Consolidated statement of cash flows |
14 |
Notes to the financial statements |
15 |
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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 |
392-394 Hoylake Road |
Moreton |
Wirral |
CH46 6DF |
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Consolidated Income Statement |
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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------------ |
------------ |
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Operating profit |
5 |
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Other interest receivable and similar income |
8 |
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Interest payable and similar expenses |
9 |
(
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(
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------------ |
------------ |
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Profit before taxation |
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Tax on profit |
10 |
(
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(
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-------- |
--------- |
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Profit for the financial year |
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-------- |
--------- |
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Consolidated Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Tangible assets |
12 |
– |
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Debtors |
14 |
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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 |
15 |
(
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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 |
16 |
(
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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 |
18 |
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Profit and loss account |
19 |
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--------- |
--------- |
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Shareholders funds |
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--------- |
--------- |
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Director |
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Company Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Investments |
13 |
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Debtors |
14 |
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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 |
15 |
(
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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 |
16 |
(
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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 |
18 |
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Share premium account |
19 |
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Other reserves, including the fair value reserve |
19 |
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Profit and loss account |
19 |
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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 Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 4 April 2021 |
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Profit for the year |
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---- |
--------- |
--------- |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
11 |
– |
(
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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 3 April 2022 |
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Profit for the year |
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---- |
--------- |
--------- |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
11 |
– |
(
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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 1 April 2023 |
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---- |
--------- |
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Company Statement of Changes in Equity |
Called up share capital |
Share premium account |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
£ |
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At 4 April 2021 |
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(
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Profit for the year |
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Other comprehensive income for the year: |
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Reclassification from revaluation reserve to profit and loss account |
– |
– |
– |
(
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(
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Reclassification from fair value reserve to profit and loss account |
– |
– |
246,877
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– |
246,877
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---- |
--------- |
--------- |
--------- |
--------- |
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Total comprehensive income for the year |
– |
– |
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Dividends paid and payable |
11 |
– |
– |
– |
(
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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 3 April 2022 |
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Profit for the year |
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---- |
--------- |
--------- |
--------- |
------------ |
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Total comprehensive income for the year |
– |
– |
– |
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Dividends paid and payable |
11 |
– |
– |
– |
(
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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 1 April 2023 |
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---- |
--------- |
--------- |
-------- |
--------- |
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Consolidated 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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Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
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Tax on profit |
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Accrued (income)/expenses |
(
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Changes in: |
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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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--------- |
--------- |
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Cash generated from operations |
(
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(
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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 used in operating activities |
(
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(
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-------- |
--------- |
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Proceeds from borrowings |
(
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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 |
475,166 |
800,983 |
--------- |
--------- |
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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 |
Plant and machinery |
- |
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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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Depreciation of tangible assets |
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Impairment of trade debtors |
325,304 |
– |
--------- |
------- |
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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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Apex employees |
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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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Other interest receivable and similar income |
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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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2023 |
2022 |
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£ |
£ |
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UK current tax expense |
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Tax on profit |
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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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Effect of expenses not deductible for tax purposes |
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Income not taxable for tax purposes |
(
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(
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-------- |
--------- |
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Tax on profit |
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-------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
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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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Group |
Plant and machinery |
£ |
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Cost |
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At 4 April 2022 and 1 April 2023 |
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------- |
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Depreciation |
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At 4 April 2022 |
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Charge for the year |
|
------- |
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At 1 April 2023 |
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------- |
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Carrying amount |
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At 1 April 2023 |
– |
------- |
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At 3 April 2022 |
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------- |
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Company |
Shares in group undertakings |
£ |
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Cost |
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At 4 April 2022 and 1 April 2023 |
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--------- |
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Impairment |
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At 4 April 2022 and 1 April 2023 |
– |
--------- |
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Carrying amount |
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At 4 April 2022 and 1 April 2023 |
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--------- |
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At 3 April 2022 |
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--------- |
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Shares in group undertakings |
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£ |
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Valuation in 2019 |
366,824 |
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Valuation in 2020 |
(241,489) |
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Valuation in 2022 |
333,135 |
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Cost |
500,000 |
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--------- |
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958,470 |
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--------- |
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Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Ordinary |
100 |
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Ordinary |
100 |
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Ordinary |
100 |
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Ordinary |
100 |
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Ordinary |
100 |
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
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Trade debtors |
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– |
– |
Amounts owed by group undertakings |
– |
– |
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Prepayments and accrued income |
|
|
– |
– |
Directors loan account |
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Other debtors |
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– |
------------ |
------------ |
--------- |
--------- |
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------------ |
------------ |
--------- |
--------- |
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Group |
Company |
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2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
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Trade creditors |
|
|
– |
– |
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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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
|
|
-------- |
-------- |
-------- |
-------- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
265 |
|
265 |
|
|
88 |
|
88 |
-------- |
---- |
-------- |
---- |
|
|
353 |
|
353 |
|
-------- |
---- |
-------- |
---- |
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At 4 Apr 2022 |
Cash flows |
At 1 Apr 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(201,747) |
|
Debt due within one year |
(20,000) |
(1,651) |
(21,651) |
Debt due after one year |
(70,834) |
21,611 |
(49,223) |
--------- |
--------- |
--------- |
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(
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--------- |
--------- |
--------- |
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Notes to the Financial Statements (continued) |
2023 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
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(
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(
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(
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--------- |
------- |
-------- |
-------- |
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(
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--------- |
------- |
-------- |
-------- |
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2022 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
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(
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– |
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(
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-------- |
--------- |
-------- |
--------- |
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(
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-------- |
--------- |
-------- |
--------- |
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2023 | 2022 | ||
£ | £ | ||
Transaction value: | |||
Management fees incurred | 430,000 | 600,000 | |
Balance owed by/(owed to): | |||
Pearl Management Limited | 1,362,979 | 925,521 | |
Emerald Contor Limited | 2,954 | 5,000 | |
2023 | 2022 | ||
£ | £ | ||
Balances owed by/(owed to) | |||
Pearl Management Limited | (215,409) | (215,396) | |
Due to
|
(25,169) | (21,857) | |
Due from
|
36,992 | (85,270) | |