|
|
|
|
Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
2 |
Independent auditor's report to the members |
4 |
Statement of income and retained earnings |
7 |
Statement of financial position |
8 |
Statement of cash flows |
9 |
Notes to the financial statements |
10 |
|
Strategic Report |
|
Director |
Registered office: |
|
|
|
|
|
|
Directors' Report |
|
|
|
|
|
|
|
(Appointed
|
|
Director |
Registered office: |
|
|
|
|
|
|
Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered accountants & statutory auditor |
3B Swallowfield Courtyard |
Wolverhampton Road |
Oldbury |
West Midlands |
B69 2JG |
|
Statement of Income and Retained Earnings |
2024 |
2023 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
|
|
------------ |
------------ |
|
Gross profit |
|
|
Administrative expenses |
|
|
|
------------ |
------------ |
||
Operating profit |
5 |
|
|
Other interest receivable and similar income |
8 |
|
|
Interest payable and similar expenses |
9 |
|
|
------------ |
------------ |
||
Profit before taxation |
|
|
|
Tax on profit |
10 |
|
(
|
--------- |
--------- |
||
Profit for the financial year and total comprehensive income |
|
|
|
--------- |
--------- |
||
Dividends paid and payable |
11 |
(
|
(
|
Retained earnings at the start of the year |
|
|
------------ |
------------ |
|
Retained earnings at the end of the year |
|
|
------------ |
------------ |
|
|
Statement of Financial Position |
2024 |
2023 |
|
Note |
£ |
£ |
Tangible assets |
12 |
|
|
Investments |
13 |
|
– |
------------ |
------------ |
||
|
|
||
Stocks |
14 |
|
|
Debtors |
15 |
|
|
Cash at bank and in hand |
|
|
|
------------ |
------------ |
||
|
|
||
Creditors: amounts falling due within one year |
16 |
|
|
------------ |
------------ |
||
Net current assets |
|
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
17 |
|
|
Provisions |
19 |
|
– |
------------ |
------------ |
||
Net assets |
|
|
|
------------ |
------------ |
||
Called up share capital |
22 |
|
|
Profit and loss account |
23 |
|
|
------------ |
------------ |
||
Shareholders funds |
|
|
|
------------ |
------------ |
||
|
Director |
|
Statement of Cash Flows |
2024 |
2023 |
|
£ |
£ |
|
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Other interest receivable and similar income |
(
|
(
|
Interest payable and similar expenses |
|
|
Tax on profit |
|
(
|
Changes in: |
||
Stocks |
|
– |
Trade and other debtors |
(
|
(
|
Trade and other creditors |
|
(
|
--------- |
--------- |
|
Cash generated from operations |
|
|
Interest paid |
(
|
(
|
Interest received |
|
|
Tax received/(paid) |
|
(
|
--------- |
--------- |
|
Net cash from operating activities |
|
|
--------- |
--------- |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
|
– |
Acquisition of subsidiaries |
(
|
– |
--------- |
--------- |
|
Net cash used in investing activities |
(
|
(
|
--------- |
--------- |
|
Proceeds from borrowings |
– |
|
Repayments of borrowings |
(
|
(
|
Proceeds from loans from group undertakings |
|
– |
Payments of finance lease liabilities |
(
|
(
|
Dividends paid |
(
|
(
|
--------- |
--------- |
|
Net cash (used in)/from financing activities |
(
|
|
--------- |
--------- |
|
Net (decrease)/increase in cash and cash equivalents |
(
|
|
Cash and cash equivalents at beginning of year |
1,292,192 |
875,918 |
------------ |
------------ |
|
Cash and cash equivalents at end of year |
|
|
------------ |
------------ |
|
|
Notes to the Financial Statements |
Freehold property |
- |
|
|
Plant and machinery |
- |
|
|
Fixtures and fittings |
- |
|
|
Motor vehicles |
- |
|
|
2024 |
2023 |
|
£ |
£ |
|
Sale of goods |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
--------- |
--------- |
|
2024 |
2023 |
|
No. |
No. |
|
Production staff |
|
|
Administrative staff |
|
|
---- |
---- |
|
|
|
|
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Remuneration |
|
|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on bank deposits |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
Other interest payable and similar charges |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
UK current tax expense/(income) |
|
(
|
Origination and reversal of timing differences |
|
– |
--------- |
-------- |
|
Tax on profit |
|
(
|
--------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
--------- |
--------- |
|
Profit on ordinary activities by rate of tax |
|
|
Effect of expenses not deductible for tax purposes |
|
|
Effect of capital allowances and depreciation |
– |
(
|
Deferred Tax |
156,516 |
(94,264) |
--------- |
--------- |
|
Tax on profit |
|
(
|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
|
|
------- |
------- |
|
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 1 April 2023 |
|
|
|
|
|
Additions |
– |
|
|
|
|
Disposals |
– |
– |
– |
(
|
(
|
------------ |
-------- |
--------- |
--------- |
------------ |
|
At 31 March 2024 |
|
|
|
|
|
------------ |
-------- |
--------- |
--------- |
------------ |
|
Depreciation |
|||||
At 1 April 2023 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Disposals |
– |
– |
– |
(
|
(
|
------------ |
-------- |
--------- |
--------- |
------------ |
|
At 31 March 2024 |
|
|
|
|
|
------------ |
-------- |
--------- |
--------- |
------------ |
|
Carrying amount |
|||||
At 31 March 2024 |
|
|
|
|
|
------------ |
-------- |
--------- |
--------- |
------------ |
|
At 31 March 2023 |
|
|
|
|
|
------------ |
-------- |
--------- |
--------- |
------------ |
|
Shares in group undertakings |
|
£ |
|
Cost |
|
At 1 April 2023 |
– |
Additions |
|
--------- |
|
At 31 March 2024 |
|
--------- |
|
Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
--------- |
|
Carrying amount |
|
At 31 March 2024 |
|
--------- |
|
At 31 March 2023 |
– |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Raw materials and consumables |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
|
|
Prepayments and accrued income |
|
|
Corporation tax repayable |
– |
|
Other debtors |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Amounts owed to group undertakings |
|
– |
Accruals and deferred income |
|
|
Corporation tax |
|
– |
Social security and other taxes |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
Director loan accounts |
|
|
Other creditors |
35,307 |
23,272 |
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
Director loan accounts |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
Deferred tax (note 20) |
|
£ |
|
At 1 April 2023 |
– |
Additions |
|
--------- |
|
At 31 March 2024 |
|
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Included in provisions (note 19) |
|
– |
--------- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Accelerated capital allowances |
|
– |
--------- |
---- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
59,375 |
|
59,375 |
-------- |
-------- |
-------- |
-------- |
|
At 1 Apr 2023 |
Cash flows |
At 31 Mar 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(117,341) |
|
Debt due within one year |
(515,818) |
(229,290) |
(745,108) |
Debt due after one year |
(1,688,471) |
457,187 |
(1,231,284) |
------------ |
--------- |
------------ |
|
(
|
|
(
|
|
------------ |
--------- |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
|
|
-------- |
-------- |
|
|
|
|
-------- |
-------- |
|