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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Income statement |
9 |
Statement of income and retained earnings |
10 |
Statement of financial position |
11 |
Statement of cash flows |
13 |
Notes to the financial statements |
14 |
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Strategic Report |
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Director |
Trading address: |
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Directors' Report |
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Director |
Trading address: |
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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 |
Crown House |
4 High Street |
Tyldesley |
Manchester |
M29 8AL |
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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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Gross profit |
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Distribution costs |
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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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Profit before taxation |
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Tax on profit |
11 |
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-------- |
--------- |
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Profit for the financial year |
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-------- |
--------- |
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Statement of Income and Retained Earnings |
2023 |
2022 |
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Note |
£ |
£ |
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
12 |
(
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(
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Retained earnings at the start of the year |
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--------- |
--------- |
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Retained earnings at the end of the year |
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--------- |
--------- |
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Intangible assets |
13 |
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Tangible assets |
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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Creditors: amounts falling due within one year |
18 |
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------------ |
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Net current assets/(liabilities) |
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(
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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 |
19 |
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– |
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Taxation including deferred tax |
21 |
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--------- |
--------- |
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Net assets |
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--------- |
--------- |
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Statement of Financial Position (continued) |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Called up share capital |
25 |
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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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Statement of Cash Flows |
2023 |
2022 |
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Note |
£ |
£ |
Profit for the financial year |
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Adjustments for: |
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Depreciation of tangible assets |
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Amortisation of intangible assets |
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Interest payable and similar expenses |
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Gains on disposal of tangible assets |
(
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(
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Tax on profit |
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Accrued (income)/expenses |
(
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Changes in: |
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Stocks |
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(
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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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Cash generated from operations |
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Interest paid |
(
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(
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Tax received/(paid) |
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(
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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 |
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--------- |
--------- |
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Net cash used in investing activities |
(
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(
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--------- |
--------- |
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Proceeds from borrowings |
(
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– |
Payments of finance lease liabilities |
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(
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Dividends paid |
(
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(
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--------- |
--------- |
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Net cash from/(used in) financing activities |
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(
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--------- |
--------- |
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Net increase/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
(1,983,248) |
(1,702,972) |
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Cash and cash equivalents at end of year |
17 |
(
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(
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------------ |
------------ |
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Notes to the Financial Statements |
Goodwill |
- |
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Plant & machinery |
- |
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Motor vehicles |
- |
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2023 |
2022 |
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£ |
£ |
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Sale of goods |
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------------- |
------------- |
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2023 |
2022 |
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£ |
£ |
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Commission receivable |
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Other operating income |
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--------- |
--------- |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Gains on disposal of tangible assets |
(
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(
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Impairment of trade debtors |
260,900 |
2,145 |
--------- |
--------- |
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2023 |
2022 |
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No. |
No. |
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Administrative staff |
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---- |
---- |
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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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Remuneration |
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Company contributions to defined contribution pension plans |
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--------- |
--------- |
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--------- |
--------- |
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2023 |
2022 |
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No. |
No. |
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Defined contribution plans |
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---- |
---- |
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2023 |
2022 |
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£ |
£ |
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Exceptional amounts written off current assets |
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– |
--------- |
---- |
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2023 |
2022 |
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£ |
£ |
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Interest on obligations under finance leases and hire purchase contracts |
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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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Origination and reversal of timing differences |
|
(
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-------- |
-------- |
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Tax on profit |
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-------- |
-------- |
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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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Effect of capital allowances and depreciation |
(
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(
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Utilisation of tax losses |
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– |
Deferred taxation |
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(
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-------- |
--------- |
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Tax on profit |
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-------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Dividends on ordinary shares |
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------- |
--------- |
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Goodwill |
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£ |
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Cost |
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At 1 January 2023 and 31 December 2023 |
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--------- |
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Amortisation |
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At 1 January 2023 |
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Charge for the year |
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--------- |
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At 31 December 2023 |
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--------- |
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Carrying amount |
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At 31 December 2023 |
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--------- |
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At 31 December 2022 |
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Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 January 2023 |
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Additions |
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– |
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Disposals |
(
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– |
(
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------------ |
--------- |
------------ |
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At 31 December 2023 |
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------------ |
--------- |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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Disposals |
(
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– |
(
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------------ |
--------- |
------------ |
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At 31 December 2023 |
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------------ |
--------- |
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Carrying amount |
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At 31 December 2023 |
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------------ |
--------- |
------------ |
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At 31 December 2022 |
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------------ |
--------- |
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Plant and machinery |
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£ |
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At 31 December 2023 |
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--------- |
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At 31 December 2022 |
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--------- |
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2023 |
2022 |
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£ |
£ |
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Finished goods and goods for resale |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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Directors loan account |
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– |
Accrued income |
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Other debtors |
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------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
|
£ |
£ |
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Cash at bank and in hand |
|
|
Bank overdrafts |
(
|
(
|
------------ |
------------ |
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(
|
(
|
|
------------ |
------------ |
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2023 |
2022 |
|
£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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Obligations under finance leases and hire purchase contracts |
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Director loan accounts |
– |
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Other creditors |
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------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Obligations under finance leases and hire purchase contracts |
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– |
-------- |
---- |
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2023 |
2022 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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– |
--------- |
-------- |
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--------- |
-------- |
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Deferred tax (note 22) |
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£ |
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At 1 January 2023 |
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Additions |
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-------- |
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At 31 December 2023 |
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-------- |
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2023 |
2022 |
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£ |
£ |
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Included in provisions (note 21) |
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-------- |
------- |
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2023 |
2022 |
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£ |
£ |
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Accelerated capital allowances |
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-------- |
------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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5,000 |
5,000 |
5,000 |
5,000 |
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500 |
500 |
500 |
500 |
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4,500 |
4,500 |
4,500 |
4,500 |
-------- |
-------- |
-------- |
-------- |
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10,000 |
10,000 |
10,000 |
10,000 |
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-------- |
-------- |
-------- |
-------- |
|
2023 |
2022 |
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No. |
£ |
No. |
£ |
|
|
|
91 |
|
91 |
|
|
500 |
|
500 |
---- |
---- |
---- |
---- |
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---- |
---- |
---- |
---- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(1,502) |
|
Bank overdrafts |
(2,082,072) |
304,269 |
(1,777,803) |
Debt due within one year |
(11,517) |
(36,206) |
(47,723) |
Debt due after one year |
– |
(54,501) |
(54,501) |
------------ |
--------- |
------------ |
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(
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|
(
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------------ |
--------- |
------------ |
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2023 |
2022 |
|
£ |
£ |
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Not later than 1 year |
|
– |
Later than 1 year and not later than 5 years |
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Later than 5 years |
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--------- |
--------- |
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--------- |
--------- |
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