Directors |
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Secretary |
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Company Number |
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Registered Office | Aeroplas Drive |
Great Western Way | |
Tipton | |
West Midlands | |
DY4 7AB | |
Accountants | Harrison Partners Limited |
Masonic Building | |
9 Mill Street | |
Sutton Coldfield | |
B72 1TJ | |
Auditors |
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Masonic Building | |
9 Mill Street | |
Sutton Coldfield | |
B72 1TJ | |
Director
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22 August 2024
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Resigned |
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Director
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for and on behalf of
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Masonic Building
9 Mill Street
Sutton Coldfield
B72 1TJ
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2023 | 2022 | |||
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Notes | £ | £ | ||
TURNOVER | 3 |
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Cost of sales |
( |
( |
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GROSS PROFIT |
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Distribution costs |
( |
( |
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Administrative expenses |
( |
( |
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Other operating income |
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OPERATING PROFIT | 5 |
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(Loss)/profit on disposal of fixed assets |
( |
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Other interest receivable and similar income | 10 |
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Interest payable and similar charges | 11 |
( |
( |
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PROFIT BEFORE TAXATION |
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Tax on Profit | 12 |
( |
( |
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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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2023 | 2022 | |||
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£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
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OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
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2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 13 |
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CURRENT ASSETS | |||||
Stocks | 14 |
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Debtors | 15 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 16 |
( |
( |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 17 |
( |
( |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 19 |
( |
( |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 21 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 9,763,316 | 8,842,696 | |||
Director
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Share Capital | Profit and Loss Account | Total | |
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£ | £ | £ | |
As at 1 January 2022 |
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7,829,462 |
Profit for the year and total comprehensive income | - |
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1,013,234 |
As at 31 December 2022 and 1 January 2023 |
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8,842,696 |
Profit for the year and total comprehensive income | - |
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920,620 |
As at 31 December 2023 |
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9,763,316 |
Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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2023 | 2022 | ||
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£ | £ | ||
United Kingdom |
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Europe |
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10,601,434 | 13,659,165 | ||
2023 | 2022 | ||
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£ | £ | ||
Rental income |
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20,519 | - | ||
2023 | 2022 | ||
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£ | £ | ||
Bad debts | - | 2,617 | |
Depreciation of tangible fixed assets |
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2023 | 2022 | ||
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£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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2023 | 2022 | ||
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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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2023 | 2022 | ||
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Office and administration |
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Sales, marketing and distribution |
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Manufacturing |
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Management |
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2023 | 2022 | ||
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£ | £ | ||
Emoluments |
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2023 | 2022 | ||
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£ | £ | ||
Bank interest receivable |
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164,651 | 12,235 | ||
2023 | 2022 | ||
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£ | £ | ||
Bank loans and overdrafts | - |
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Finance charges payable under finance leases and hire purchase contracts | 20,353 | 11,806 | |
Foreign exchange charges |
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( |
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Other finance charges |
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21,928 | 9,229 | ||
The tax charge on the profit for the year was as follows:
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Tax Rate | 2023 | 2022 | |||
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2023 | 2022 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 23.5% | 19.0% |
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Deferred Tax | |||||
Origination and reversal of timing differences |
( |
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Total tax charge for the period |
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The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
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2023 | 2022 | ||||
£ | £ | ||||
Profit before tax | 1,182,368 | 1,450,379 | |||
Tax on profit at 23.5% (UK standard rate) |
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Goodwill/depreciation not allowed for tax |
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Expenses not deductible for tax purposes |
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Capital allowances |
( |
( |
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Short term timing differences |
( |
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Research and Development tax credit |
( |
( |
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Total tax charge for the period | 261,748 | 437,145 | |||
Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
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£ | £ | £ | £ | |
Cost | ||||
As at 1 January 2023 |
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Additions |
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Disposals |
( |
( |
( |
( |
As at 31 December 2023 |
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Depreciation | ||||
As at 1 January 2023 |
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Provided during the period |
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Disposals |
( |
( |
( |
( |
As at 31 December 2023 |
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Net Book Value | ||||
As at 31 December 2023 |
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As at 1 January 2023 |
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2023 | 2022 | ||
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£ | £ | ||
Plant & Machinery |
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Motor Vehicles |
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2023 | 2022 | ||
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£ | £ | ||
Materials |
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Finished goods |
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2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Prepayments and accrued income |
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Other debtors | - |
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2023 | 2022 | ||
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£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
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Trade creditors |
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Amounts owed to group undertakings |
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Other creditors | 6,327 | 5,313 | |
Corporation tax |
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Taxation and social security | 105,532 | 164,539 | |
Accruals and deferred income |
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2023 | 2022 | ||
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£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
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2023 | 2022 | ||
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£ | £ | ||
Net obligations under finance lease and hire purchase contracts | 347,562 | 296,087 | |
Amounts owed to group undertakings | 804,160 | 548,555 |
2023 | 2022 | ||
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£ | £ | ||
The future minimum finance lease payments are as follows: | |||
Not later than one year |
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Later than one year and not later than five years |
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2023 | 2022 | ||
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£ | £ | ||
Other timing differences | 878,731 | 892,591 | |
Deferred Tax | Total | |
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£ | £ | |
As at 1 January 2023 |
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892,591 |
Utilised |
( |
(13,860) |
Balance at 31 December 2023 |
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878,731 |