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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Director's report |
5 |
Independent auditor's report to the members |
7 |
Consolidated statement of comprehensive income |
11 |
Consolidated statement of financial position |
12 |
Company statement of financial position |
13 |
Consolidated statement of changes in equity |
14 |
Company statement of changes in equity |
15 |
Consolidated statement of cash flows |
16 |
Notes to the financial statements |
17 |
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Officers and Professional Advisers |
Director |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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The Old Mill, |
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9 Soar Lane |
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Leicester |
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LE3 5DE |
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Strategic Report |
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Director |
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Registered office: |
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Director's Report |
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Director |
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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 |
The Old Mill, |
9 Soar Lane |
Leicester |
LE3 5DE |
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Consolidated Statement of Comprehensive Income |
2023 |
2022 |
||
Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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------------- |
------------- |
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Gross profit |
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Administrative expenses |
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Other operating income |
5 |
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– |
------------ |
------------ |
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Operating profit |
6 |
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Interest payable and similar expenses |
10 |
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------------ |
------------ |
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(Loss)/profit before taxation |
(
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Tax on (loss)/profit |
11 |
(
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--------- |
------------ |
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Profit for the financial year and total comprehensive income |
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--------- |
------------ |
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Consolidated Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Negative goodwill |
12 |
(
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(
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Tangible assets |
13 |
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Investments |
14 |
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------------ |
------------ |
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Stocks |
15 |
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Debtors |
16 |
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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 |
17 |
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------------ |
------------ |
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Net current liabilities |
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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 |
18 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
22 |
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Profit and loss account |
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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 |
14 |
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Debtors |
16 |
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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 |
17 |
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------------ |
------------ |
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Net current liabilities |
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------------ |
------------ |
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Total assets less current liabilities |
(
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(
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--------- |
--------- |
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Net liabilities |
(
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(
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--------- |
--------- |
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Called up share capital |
22 |
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Profit and loss account |
(
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(
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--------- |
--------- |
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Shareholders deficit |
(
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(
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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 28 March 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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Issue of shares |
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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 29 March 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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------- |
------------ |
------------ |
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At 29 March 2023 |
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------- |
------------ |
------------ |
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Company Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
|
£ |
£ |
£ |
|
At 28 March 2021 |
|
(
|
(
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Loss for the year |
(
|
(
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|
------- |
--------- |
-------- |
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Total comprehensive income for the year |
– |
(
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(
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Issue of shares |
|
– |
|
------- |
--------- |
-------- |
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Total investments by and distributions to owners |
|
– |
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At 29 March 2022 |
|
(
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(
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Loss for the year |
(
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(
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------- |
--------- |
--------- |
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Total comprehensive income for the year |
– |
(
|
(
|
------- |
--------- |
--------- |
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At 29 March 2023 |
|
(
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(
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------- |
--------- |
--------- |
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Consolidated Statement of Cash Flows |
2023 |
2022 |
|
£ |
£ |
|
Profit for the financial year |
|
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Adjustments for: |
||
Depreciation of tangible assets |
|
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Amortisation of intangible assets |
(
|
(
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Interest payable and similar expenses |
|
|
Gains on disposal of tangible assets |
(
|
(
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Tax on loss |
(4,423) |
– |
Accrued (income)/expenses |
(
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Changes in: |
||
Stocks |
(
|
(
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Trade and other debtors |
|
(
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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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Tax (paid)/received |
(
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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 |
|
|
Purchase of intangible assets |
– |
(
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Acquisition of subsidiaries |
(
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(
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Other investing cash flow adjustment |
– |
(30,000) |
------------ |
------------ |
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Net cash used in investing activities |
(
|
(
|
------------ |
------------ |
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Proceeds from issue of ordinary shares |
– |
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Proceeds from borrowings |
(
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Payments of finance lease liabilities |
|
(
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------------ |
------------ |
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Net cash from/(used in) financing activities |
|
(
|
------------ |
------------ |
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Net increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year |
465,389 |
319,770 |
--------- |
--------- |
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Cash and cash equivalents at end of year |
|
|
--------- |
--------- |
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Notes to the Financial Statements |
Goodwill |
- |
9-10 years straight line |
|
Plant and machinery |
- |
2-15 years straight line |
|
2023 |
2022 |
|
£ |
£ |
|
Sale of goods |
|
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Rendering of services |
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------------- |
------------- |
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------------- |
------------- |
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2023 |
2022 |
|
£ |
£ |
|
United Kingdom |
|
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Overseas sales |
451,189 |
230,238 |
------------- |
------------- |
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------------- |
------------- |
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2023 |
2022 |
|
£ |
£ |
|
Other operating income |
|
– |
------- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Amortisation of intangible assets |
(
|
(
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
|
(
|
Impairment of trade debtors |
(1,904) |
(82,763) |
Operating lease rentals |
|
– |
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
2023 |
2022 |
|
No. |
No. |
|
Distribution staff |
|
|
Administrative staff |
|
|
---- |
---- |
|
|
|
|
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
|
£ |
£ |
|
Remuneration |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Aggregate remuneration |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
UK current tax income |
|
– |
Adjustments in respect of prior periods |
(
|
– |
------- |
---- |
|
Total current tax |
(
|
– |
------- |
---- |
|
Origination and reversal of timing differences |
(
|
|
--------- |
--------- |
|
Tax on loss |
(
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
(Loss)/profit on ordinary activities before taxation |
(
|
|
-------- |
------------ |
|
(Loss)/profit on ordinary activities by rate of tax |
(
|
|
Adjustment to tax charge in respect of prior periods |
(
|
(
|
Effect of expenses not deductible for tax purposes |
|
|
Effect of capital allowances and depreciation |
(
|
– |
Unused tax losses |
|
– |
Effect of change in corporation tax rate |
– |
(50,859) |
Deferred tax |
(98,139) |
– |
--------- |
------------ |
|
Tax on loss |
(
|
|
--------- |
------------ |
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Group |
Goodwill |
£ |
|
Cost |
|
At 30 March 2022 |
(
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Acquisitions through business combinations |
|
------------ |
|
At 29 March 2023 |
(
|
------------ |
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Amortisation |
|
At 30 March 2022 |
(
|
Charge for the year |
(
|
------------ |
|
At 29 March 2023 |
(
|
------------ |
|
Carrying amount |
|
At 29 March 2023 |
(
|
------------ |
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At 29 March 2022 |
(
|
------------ |
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Group |
Plant and machinery |
£ |
|
Cost |
|
At 30 March 2022 |
|
Additions |
|
Disposals |
(
|
------------ |
|
At 29 March 2023 |
|
------------ |
|
Depreciation |
|
At 30 March 2022 |
|
Charge for the year |
|
Disposals |
(
|
------------ |
|
At 29 March 2023 |
|
------------ |
|
Carrying amount |
|
At 29 March 2023 |
|
------------ |
|
At 29 March 2022 |
|
------------ |
|
Group |
Plant and machinery |
£ |
|
At 29 March 2023 |
|
------------ |
|
At 29 March 2022 |
|
------------ |
|
Group |
Other investments other than loans |
£ |
|
Cost |
|
At 30 March 2022 and 29 March 2023 |
|
--------- |
|
Impairment |
|
At 30 March 2022 and 29 March 2023 |
– |
--------- |
|
Carrying amount |
|
At 30 March 2022 and 29 March 2023 |
|
--------- |
|
At 29 March 2022 |
|
--------- |
|
Company |
Shares in group undertakings |
Other investments other than loans |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 30 March 2022 and 29 March 2023 |
|
|
|
------------ |
--------- |
------------ |
|
Impairment |
|||
At 30 March 2022 and 29 March 2023 |
– |
– |
– |
------------ |
--------- |
------------ |
|
Carrying amount |
|||
At 30 March 2022 and 29 March 2023 |
|
|
|
------------ |
--------- |
------------ |
|
At 29 March 2022 |
|
|
|
------------ |
--------- |
------------ |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Raw materials and consumables |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Deferred tax asset |
|
|
|
|
Prepayments and accrued income |
|
|
– |
– |
Director's loan account |
|
– |
|
|
Other debtors |
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
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 |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
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|
|
|
------------ |
------------ |
------------ |
------------ |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
|
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
------------ |
------------ |
---- |
---- |
|
|
|
– |
– |
|
Less: future finance charges |
(
|
(
|
– |
– |
------------ |
------------ |
---- |
---- |
|
Present value of minimum lease payments |
|
|
– |
– |
------------ |
------------ |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Included in debtors (note 16) |
|
|
|
|
--------- |
--------- |
-------- |
-------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
(
|
(
|
– |
– |
Unused tax losses |
|
|
|
|
--------- |
--------- |
-------- |
-------- |
|
366,239 |
268,100 |
21,273 |
20,903 |
|
--------- |
--------- |
-------- |
-------- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,001 |
|
1,001 |
-------- |
------- |
-------- |
------- |
|
At 30 Mar 2022 |
Cash flows |
At 29 Mar 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
343,958 |
|
Debt due within one year |
(638,351) |
(29,079) |
(667,430) |
Debt due after one year |
(871,199) |
25,035 |
(846,164) |
------------ |
--------- |
--------- |
|
(
|
|
(
|
|
------------ |
--------- |
--------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
------------ |
------------ |
---- |
---- |
|
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|