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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Independent auditor's report to the members |
6 |
Statement of income and retained earnings |
10 |
Statement of financial position |
11 |
Statement of cash flows |
12 |
Notes to the financial statements |
13 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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United Kingdom |
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Auditor |
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Chartered accountants & statutory auditor |
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384 Linthorpe Road |
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Middlesbrough |
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TS5 6HA |
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Strategic Report |
2023 | 2022 | ||
£ | £ | ||
Gross margin % | 20 | 18 | |
Turnover | 9,695,815 | 13,873,972 | |
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Director |
Registered office: |
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United Kingdom |
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Directors' Report |
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Director |
Registered office: |
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United Kingdom |
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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 |
384 Linthorpe Road |
Middlesbrough |
TS5 6HA |
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Statement of Income and Retained Earnings |
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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Administrative expenses |
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Other operating income |
5 |
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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 and total comprehensive income |
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--------- |
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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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Retained earnings at the end of the year |
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Tangible assets |
13 |
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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 |
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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 |
19 |
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Net assets |
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Called up share capital |
23 |
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Share premium account |
24 |
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Profit and loss account |
24 |
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Shareholders funds |
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------------ |
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Director |
Director |
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Director |
Director |
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Statement of Cash Flows |
2023 |
2022 |
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£ |
£ |
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Profit for the financial year |
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Adjustments for: |
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Depreciation of tangible assets |
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Government grant income |
– |
(
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Interest payable and similar expenses |
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Gains on disposal of tangible assets |
– |
(
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Tax on profit |
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Accrued income |
(
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(
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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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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 |
(
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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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(
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Proceeds from loans from participating interests |
(
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– |
Government grant income |
– |
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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 used in financing activities |
(
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(
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--------- |
------------ |
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Net (decrease)/increase in cash and cash equivalents |
(
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Cash and cash equivalents at beginning of year |
1,547,806 |
983,298 |
------------ |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Long leasehold property |
- |
Straight line over the length of the lease |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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2023 |
2022 |
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£ |
£ |
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Rendering of services |
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------------ |
------------- |
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2023 |
2022 |
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£ |
£ |
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Government grant income |
– |
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Damages and compensation claim receivable |
221,930 |
– |
Grant income |
6,600
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6,600
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--------- |
-------- |
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--------- |
-------- |
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2023 |
2022 |
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£ |
£ |
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Depreciation of tangible assets |
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Gains on disposal of tangible assets |
– |
(
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Impairment of trade debtors |
40,000 |
14,174 |
--------- |
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2023 |
2022 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
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------- |
------- |
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2023 |
2022 |
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No. |
No. |
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Production staff |
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Administrative staff |
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---- |
---- |
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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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£ |
£ |
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Aggregate 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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£ |
£ |
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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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Adjustments in respect of prior periods |
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(
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-------- |
--------- |
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Total current tax |
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-------- |
--------- |
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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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Adjustment to tax charge in respect of prior periods |
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(
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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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Tax on profit |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
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--------- |
--------- |
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Long leasehold property |
Plant and machinery |
Fixtures and fittings |
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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-------- |
--------- |
--------- |
-------- |
------------ |
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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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-------- |
--------- |
--------- |
-------- |
------------ |
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At 31 December 2023 |
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-------- |
--------- |
--------- |
-------- |
------------ |
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Carrying amount |
|||||
At 31 December 2023 |
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– |
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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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Work in progress |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
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Amounts owed by undertakings in which the company has a participating interest |
– |
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Prepayments and 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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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to undertakings in which the company has a participating interest |
– |
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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 |
225,778
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35,166
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------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
|
£ |
£ |
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Bank loans and overdrafts |
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Obligations under finance leases and hire purchase contracts |
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|
--------- |
--------- |
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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 20) |
|
£ |
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At 1 January 2023 |
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Charge against provision |
(
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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 19) |
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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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£ |
£ |
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Government grants recognised directly in income |
– |
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---- |
------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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|
1,000 |
|
1,000 |
------- |
------- |
------- |
------- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(522,199) |
|
Debt due within one year |
(167,723) |
12,725 |
(154,998) |
Debt due after one year |
(367,112) |
152,626 |
(214,486) |
------------ |
--------- |
------------ |
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(
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------------ |
--------- |
------------ |
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2023 |
2022 |
|
£ |
£ |
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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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