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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
2 |
Independent auditor's report to the members |
4 |
Consolidated statement of comprehensive income |
8 |
Consolidated statement of financial position |
9 |
Company statement of financial position |
10 |
Consolidated statement of changes in equity |
11 |
Company statement of changes in equity |
12 |
Consolidated statement of cash flows |
13 |
Notes to the financial statements |
14 |
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Strategic Report |
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Director |
Director |
Registered office: |
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Directors' Report |
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Director |
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 |
22 Great Victoria Street |
Belfast |
BT2 7BA |
|
Consolidated Statement of Comprehensive Income |
2023 |
2022 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
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 |
|
– |
------------ |
------------ |
||
Operating profit |
6 |
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Interest payable and similar expenses |
10 |
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|
------------ |
------------ |
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Profit before taxation |
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Tax on profit |
11 |
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|
------------ |
------------ |
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Profit for the financial year |
|
|
|
------------ |
------------ |
||
Foreign currency retranslation |
(
|
|
Exceptional items written off in the year |
|
(
|
-------- |
--------- |
|
Other comprehensive income for the year |
(
|
(
|
------------ |
--------- |
|
Total comprehensive income for the year |
|
|
------------ |
--------- |
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|
Consolidated Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Intangible assets |
13 |
|
|
Tangible assets |
14 |
|
|
Investments |
15 |
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|
------------ |
------------ |
||
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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 |
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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|
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Creditors: amounts falling due after more than one year |
19 |
|
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Provisions |
21 |
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------------ |
------------ |
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Net assets |
|
|
|
------------ |
------------ |
||
Called up share capital |
25 |
|
|
Share premium account |
26 |
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Profit and loss account |
26 |
|
|
------------ |
------------ |
||
Shareholders funds |
|
|
|
------------ |
------------ |
||
|
|
Director |
Director |
|
Company Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Intangible assets |
13 |
|
– |
Tangible assets |
14 |
|
|
Investments |
15 |
|
|
------------ |
------------ |
||
|
|
||
Debtors |
16 |
|
|
Cash at bank and in hand |
|
|
|
--------- |
--------- |
||
|
|
||
Creditors: amounts falling due within one year |
18 |
|
|
------------- |
------------- |
||
Net current liabilities |
|
|
|
------------- |
------------- |
||
Total assets less current liabilities |
(
|
(
|
|
Creditors: amounts falling due after more than one year |
19 |
|
|
------------- |
------------ |
||
Net liabilities |
(
|
(
|
|
------------- |
------------ |
||
Called up share capital |
25 |
|
|
Share premium account |
26 |
|
|
Profit and loss account |
26 |
(
|
(
|
------------- |
------------ |
||
Shareholders deficit |
(
|
(
|
|
------------- |
------------ |
||
|
|
Director |
Director |
|
Consolidated Statement of Changes in Equity |
Called up share capital |
Share premium account |
Profit and loss account |
Total |
||
£ |
£ |
£ |
£ |
||
At 1 January 2022 |
|
|
|
|
|
Profit for the year |
|
|
|||
Other comprehensive income for the year: |
|||||
Foreign currency retranslation |
– |
– |
|
|
|
Exceptional items written off in the year |
– |
– |
(
|
(
|
|
------- |
--------- |
------------ |
------------ |
||
Total comprehensive income for the year |
– |
– |
|
|
|
At 31 December 2022 |
|
|
|
|
|
Profit for the year |
|
|
|||
Other comprehensive income for the year: |
|||||
Foreign currency retranslation |
– |
– |
(
|
(
|
|
Exceptional items written off in the year |
– |
– |
|
|
|
------- |
--------- |
------------ |
------------ |
||
Total comprehensive income for the year |
– |
– |
|
|
|
------- |
--------- |
------------ |
------------ |
||
At 31 December 2023 |
|
|
|
|
|
------- |
--------- |
------------ |
------------ |
||
|
Company Statement of Changes in Equity |
Called up share capital |
Share premium account |
Profit and loss account |
Total |
||
£ |
£ |
£ |
£ |
||
At 1 January 2022 |
|
|
(
|
(
|
|
Loss for the year |
(
|
(
|
|||
Other comprehensive income for the year: |
|||||
Exceptional items written off in the year |
– |
– |
(
|
(
|
|
------- |
--------- |
------------ |
------------ |
||
Total comprehensive income for the year |
– |
– |
(
|
(
|
|
At 31 December 2022 |
|
|
(
|
(
|
|
Loss for the year |
(
|
(
|
|||
Other comprehensive income for the year: |
|||||
Exceptional items written off in the year |
– |
– |
|
|
|
------- |
--------- |
------------ |
------------ |
||
Total comprehensive income for the year |
– |
– |
(
|
(
|
|
------- |
--------- |
------------- |
------------- |
||
At 31 December 2023 |
|
|
(
|
(
|
|
------- |
--------- |
------------- |
------------- |
||
|
Consolidated Statement of Cash Flows |
2023 |
2022 |
|
Note |
£ |
£ |
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Amortisation of intangible assets |
|
|
Government grant income |
(
|
– |
Interest payable and similar expenses |
|
|
Gains on disposal of tangible assets |
– |
(
|
Unrealised foreign currency (gains)/loss |
(40,527) |
101,713 |
Tax on profit |
|
|
Accrued expenses/(income) |
|
(
|
Exceptional items written off in the year |
16,975 |
(974,299) |
Changes in: |
||
Trade and other debtors |
(
|
|
Trade and other creditors |
(
|
|
------------ |
------------ |
|
Cash generated from operations |
|
|
Interest paid |
(
|
(
|
Tax paid |
(
|
(
|
------------ |
------------ |
|
Net cash from operating activities |
|
|
------------ |
------------ |
|
Purchase of tangible assets |
(
|
(
|
Purchase of intangible assets |
(
|
– |
Acquisition of subsidiaries |
– |
(
|
------------ |
------------ |
|
Net cash used in investing activities |
(
|
(
|
------------ |
------------ |
|
Proceeds from borrowings |
– |
|
Repayments of borrowings |
(
|
(
|
Government grant income |
|
– |
Payments of finance lease liabilities |
(
|
(
|
------------ |
------------ |
|
Net cash (used in)/from financing activities |
(
|
|
------------ |
------------ |
|
Net decrease in cash and cash equivalents |
(
|
(
|
|
Cash and cash equivalents at beginning of year |
2,113,706 |
2,303,389 |
|
------------ |
------------ |
||
Cash and cash equivalents at end of year |
17 |
|
|
------------ |
------------ |
||
|
Notes to the Financial Statements |
Goodwill |
- |
|
|
Alterations to property |
- |
|
|
Fixtures and fittings |
- |
|
|
Motor vehicles |
- |
|
|
Equipment |
- |
|
|
2023 |
2022 |
|
£ |
£ |
|
Rendering of services |
|
|
------------- |
------------- |
|
2023 |
2022 |
|
£ |
£ |
|
United Kingdom |
|
|
Republic of Ireland |
|
|
------------- |
------------- |
|
|
|
|
------------- |
------------- |
|
2023 |
2022 |
|
£ |
£ |
|
Government grant income |
|
– |
Other operating income |
|
– |
-------- |
---- |
|
|
– |
|
-------- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
– |
(
|
Impairment of trade debtors |
(28,757) |
170,285 |
Foreign exchange differences |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
2023 |
2022 |
|
No. |
No. |
|
Administrative staff |
|
|
Care staff |
|
|
------- |
------- |
|
|
|
|
------- |
------- |
|
2023 |
2022 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------- |
------------- |
|
|
|
|
------------- |
------------- |
|
2023 |
2022 |
|
£ |
£ |
|
Remuneration |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on overdue taxation |
|
|
Other interest payable and similar charges |
|
|
--------- |
-------- |
|
|
|
|
--------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
UK current tax income |
|
|
Adjustments in respect of prior periods |
|
(
|
--------- |
--------- |
|
Total current tax |
|
|
--------- |
--------- |
|
Origination and reversal of timing differences |
|
|
--------- |
--------- |
|
Tax on profit |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
------------ |
------------ |
|
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 |
|
(
|
Effect of different UK tax rates on some earnings |
(139,512) |
(55,816) |
Utilisation of tax losses |
(
|
|
Effect of amortisation of goodwill |
|
|
Exceptional items deductions |
– |
(100,088)
|
------------ |
------------ |
|
Tax on loss |
|
|
------------ |
------------ |
|
Group |
Goodwill |
Software Development costs |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 January 2023 |
|
– |
|
Additions from internal developments |
– |
|
|
------------ |
--------- |
------------ |
|
At 31 December 2023 |
|
|
|
------------ |
--------- |
------------ |
|
Amortisation |
|||
At 1 January 2023 |
|
– |
|
Charge for the year |
|
– |
|
------------ |
--------- |
------------ |
|
At 31 December 2023 |
|
– |
|
------------ |
--------- |
------------ |
|
Carrying amount |
|||
At 31 December 2023 |
|
|
|
------------ |
--------- |
------------ |
|
At 31 December 2022 |
|
– |
|
------------ |
--------- |
------------ |
|
Company |
Software Development costs |
£ |
|
Cost |
|
At 1 January 2023 |
– |
Additions from internal developments |
|
--------- |
|
At 31 December 2023 |
|
--------- |
|
Amortisation |
|
At 1 January 2023 and 31 December 2023 |
– |
--------- |
|
Carrying amount |
|
At 31 December 2023 |
|
--------- |
|
At 31 December 2022 |
– |
--------- |
|
Group |
Alterations to property. |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 1 January 2023 |
|
|
|
|
|
Additions |
– |
|
|
|
|
Disposals |
– |
(
|
(
|
(
|
(
|
FX on translation |
(
|
(
|
– |
(
|
(
|
--------- |
--------- |
--------- |
--------- |
------------ |
|
At 31 December 2023 |
|
|
|
|
|
--------- |
--------- |
--------- |
--------- |
------------ |
|
Depreciation |
|||||
At 1 January 2023 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Disposals |
– |
(
|
(
|
(
|
(
|
FX on translation |
(
|
(
|
– |
(
|
(
|
--------- |
--------- |
--------- |
--------- |
------------ |
|
At 31 December 2023 |
|
|
|
|
|
--------- |
--------- |
--------- |
--------- |
------------ |
|
Carrying amount |
|||||
At 31 December 2023 |
|
|
|
|
|
--------- |
--------- |
--------- |
--------- |
------------ |
|
At 31 December 2022 |
|
|
|
|
|
--------- |
--------- |
--------- |
--------- |
------------ |
|
Company |
Fixtures and fittings |
Equipment |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 January 2023 |
|
|
|
Additions |
|
|
|
Disposals |
– |
(
|
(
|
-------- |
--------- |
--------- |
|
At 31 December 2023 |
|
|
|
-------- |
--------- |
--------- |
|
Depreciation |
|||
At 1 January 2023 |
|
|
|
Charge for the year |
|
|
|
-------- |
--------- |
--------- |
|
At 31 December 2023 |
|
|
|
-------- |
--------- |
--------- |
|
Carrying amount |
|||
At 31 December 2023 |
|
|
|
-------- |
--------- |
--------- |
|
At 31 December 2022 |
|
|
|
-------- |
--------- |
--------- |
|
Group |
Motor vehicles |
£ |
|
At 31 December 2023 |
|
--------- |
|
At 31 December 2022 |
|
--------- |
|
Group |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 January 2023 and 31 December 2023 |
|
--------- |
|
Impairment |
|
At 1 January 2023 and 31 December 2023 |
– |
--------- |
|
Carrying amount |
|
At 1 January 2023 and 31 December 2023 |
|
--------- |
|
At 31 December 2022 |
|
--------- |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 January 2023 |
|
Revaluations |
(
|
------------ |
|
At 31 December 2023 |
|
------------ |
|
Impairment |
|
At 1 January 2023 and 31 December 2023 |
– |
------------ |
|
Carrying amount |
|
At 31 December 2023 |
|
------------ |
|
At 31 December 2022 |
|
------------ |
|
Registered office |
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
|||
|
3b Boucher Business Studios |
Ordinary |
100 |
Glenmachan Place |
|||
Belfast |
|||
BT12 6QH |
|||
|
Unit 3, First floor, Block 3 |
Ordinary |
100 |
Belgard road, Tallaght |
|||
Dublin 4 |
|||
|
3b Boucher Business Studios |
Ordinary |
100 |
Glenmachan Place |
|||
Belfast |
|||
BT12 6QH |
|||
|
3b Boucher Business Studios |
Ordinary |
100 |
Glenmachan Place |
|||
Belfast |
|||
BT12 6QH |
|||
|
10 Willwmount Booterstown Avenue |
Ordinary |
100 |
Blackrock |
|||
Co Dublin |
|||
Other significant holdings |
|||
I - Innovations Ltd |
3b Boucher Business Studios |
Ordinary |
50 |
Glenmachan Place |
|||
Belfast |
|||
BT12 6QH |
|||
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
|
|
Prepayments and accrued income |
|
|
|
|
Directors loan account |
|
– |
|
– |
Other debtors |
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Cash at bank and in hand |
|
|
Bank overdrafts |
– |
(
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
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 |
|
|
– |
– |
Other creditors |
|
|
|
|
------------ |
------------ |
------------- |
------------- |
|
|
|
|
|
|
------------ |
------------ |
------------- |
------------- |
|
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 |
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
Group |
Deferred tax (note 22) |
£ |
|
At 1 January 2023 |
|
Additions |
|
-------- |
|
At 31 December 2023 |
|
-------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 21) |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Government grants recognised directly in income |
|
– |
|
– |
-------- |
---- |
-------- |
---- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,273 |
|
1,273 |
------- |
------- |
------- |
------- |
|
At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(885,824) |
|
Bank overdrafts |
(301,766) |
301,766 |
– |
Debt due within one year |
(739,716) |
70,399 |
(669,317) |
Debt due after one year |
(1,541,940) |
458,121 |
(1,083,819) |
------------ |
--------- |
------------ |
|
(
|
(
|
(
|
|
------------ |
--------- |
------------ |
|
2023 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
– |
|
|
|
---- |
-------- |
-------- |
||
2022 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
|
(
|
– |
|
--------- |
--------- |
---- |
||