Director
|
25th September 2024
|
|
||
|
||
|
||
|
||
|
Appointed |
|
|
Appointed |
|
|
Appointed |
|
Director
|
|
for and on behalf of
|
|
82 Wandsworth Bridge Road
London
SW6 2TF
|
2023 | 2022 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER | 3 |
|
|
|
Cost of sales |
( |
( |
||
GROSS PROFIT |
|
|
||
Administrative expenses |
( |
( |
||
Other operating income |
|
|
||
OPERATING PROFIT | 5 |
|
|
|
Loss on disposal of fixed assets |
( |
( |
||
Other interest receivable and similar income | 10 |
|
|
|
Interest payable and similar charges | 11 |
( |
( |
|
PROFIT BEFORE TAXATION |
|
|
||
Tax on Profit | 12 |
( |
( |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
|
|
||
2023 | 2022 | |||
---|---|---|---|---|
£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
|
|
||
OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
|
|
||
2023 | 2022 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 13 |
|
|
||
Investments | 14 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 15 |
|
|
||
Debtors | 16 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 17 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 18 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 21 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 23 |
|
|
||
Income Statement |
|
|
|||
SHAREHOLDERS' FUNDS | 1,285,755 | 1,247,349 | |||
Director
|
|
Share Capital | Income Statement | Total | |
---|---|---|---|
£ | £ | £ | |
As at 1 January 2022 |
|
|
1,229,938 |
Profit for the year and total comprehensive income | - |
|
17,411 |
As at 31 December 2022 and 1 January 2023 |
|
|
1,247,349 |
Profit for the year and total comprehensive income | - |
|
138,406 |
Dividends paid | - | (100,000) | (100,000) |
As at 31 December 2023 |
|
|
1,285,755 |
2023 | 2022 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from/(used in) operations | 1 |
|
( |
|
Interest paid |
( |
( |
||
Tax paid |
( |
( |
||
Net cash generated from/(used in) operating activities |
|
( |
||
Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
( |
||
Proceeds from disposal of tangible assets |
( |
|
||
Purchase of investment in subsidiary undertaking |
|
( |
||
Interest received |
|
|
||
Net cash generated from/(used in) investing activities |
|
( |
||
Cash flows from financing activities | ||||
Equity dividends paid |
( |
|
||
Proceeds from new bank borrowings |
|
|
||
Repayment of bank borrowings |
( |
|
||
Repayment of finance leases |
( |
( |
||
Net cash (used in)/generated from financing activities |
( |
|
||
Increase/(decrease) in cash and cash equivalents |
|
( |
||
Cash and cash equivalents at beginning of year | 2 |
|
|
|
Cash and cash equivalents at end of year | 2 |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Tax on profit |
|
|
|
Interest expense |
|
|
|
Interest income |
( |
|
|
Depreciation of tangible assets |
|
|
|
Loss on disposal of tangible assets | 6,209 | 17,553 | |
Movements in working capital: | |||
Decrease/(increase) in stocks |
|
( |
|
Decrease/(increase) in trade and other debtors |
|
( |
|
Increase in trade and other creditors |
|
|
|
Net cash generated from/(used in) operations |
|
( |
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 January 2023 | Cash flows | As at 31 December 2023 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
941,091 |
|
Finance leases | (105,369) | 89,685 | (15,684) |
Debts falling due within one year |
( |
1,773,893 |
( |
Debts falling due after more than one year | (439,394) | 181,818 | (257,576) |
(2,434,807) | 2,986,487 | 551,680 | |
Leasehold |
|
Plant & Machinery |
|
Fixtures & Fittings |
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
United Kingdom |
|
|
|
Europe |
|
|
|
31,801,561 | 34,743,033 | ||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Other operating income |
|
|
|
3,000 | 33,688 | ||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Bad debts | 37,961 | 17,163 | |
Operating lease rentals |
|
|
|
Depreciation of tangible fixed assets - owned |
|
|
|
Depreciation of tangible fixed assets - finance leases and hire purchase contracts |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
Office and administration |
|
|
|
Sales, marketing and distribution |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
Money purchase pension schemes |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Bank interest receivable |
|
|
|
Other interest receivable | 15 | - | |
55,239 | - | ||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Bank loans and overdrafts |
|
|
|
Other finance charges |
|
|
|
62,970 | 37,382 | ||
The tax charge on the profit for the year was as follows:
|
|||||
Tax Rate | 2023 | 2022 | |||
---|---|---|---|---|---|
2023 | 2022 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 23.5% | 19.0% |
|
|
|
Prior period adjustment |
( |
( |
|||
|
|
||||
Deferred Tax | |||||
Deferred taxation |
|
( |
|||
Total tax charge for the period |
|
|
|||
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:
|
|||||
2023 | 2022 | ||||
£ | £ | ||||
Profit before tax | 260,892 | 21,294 | |||
Tax on profit at 23.5% (UK standard rate) |
|
|
|||
Goodwill/depreciation not allowed for tax |
|
|
|||
Expenses not deductible for tax purposes |
|
|
|||
Capital allowances |
( |
( |
|||
Short term timing differences |
( |
|
|||
Prior period adjustment |
( |
( |
|||
Total tax charge for the period | 115,682 | 20,227 | |||
Land & Property | ||||
---|---|---|---|---|
Leasehold | Plant & Machinery | Fixtures & Fittings | Total | |
£ | £ | £ | £ | |
Cost or Valuation | ||||
As at 1 January 2023 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
( |
( |
( |
( |
As at 31 December 2023 |
|
|
|
|
Depreciation | ||||
As at 1 January 2023 |
|
|
|
|
Provided during the period |
|
|
|
|
Disposals |
( |
( |
( |
( |
As at 31 December 2023 |
|
|
|
|
Net Book Value | ||||
As at 31 December 2023 |
|
|
|
|
As at 1 January 2023 |
|
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Plant & Machinery |
|
|
|
|
|
||
Subsidiaries | Unlisted | Total | |
---|---|---|---|
£ | £ | £ | |
Cost | |||
As at 1 January 2023 |
|
|
|
As at 31 December 2023 |
|
|
|
Provision | |||
As at 1 January 2023 |
|
|
- |
As at 31 December 2023 |
|
|
- |
Net Book Value | |||
As at 31 December 2023 |
|
|
|
As at 1 January 2023 |
|
|
|
Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
---|---|---|---|---|
|
82 Wandsworth Bridge Road, London SW6 2TF |
|
|
- |
|
82 Wandsworth Bridge Road, London SW6 2TF |
|
|
- |
|
82 Wandsworth Bridge Road, London SW6 2TF |
|
|
- |
|
82 Wandsworth Bridge Road, London SW6 2TF |
|
|
- |
Capital and Reserves | Profit/(loss) | |
---|---|---|
£ | £ | |
ACS Business Supplies Ltd |
|
|
Amalgamated Computer Supplies Ltd |
|
|
PFS Managed Services Limited |
|
|
Scribble and Print Ltd |
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Finished goods |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Trade debtors |
|
|
|
Prepayments and accrued income |
|
|
|
Other debtors |
|
|
|
|
|
||
Due after more than one year | |||
Other debtors |
|
|
|
|
|
||
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
|
|
|
Trade creditors |
|
|
|
Bank loans and overdrafts |
|
|
|
Other creditors | 161,315 | 158,189 | |
Corporation tax |
|
|
|
Taxation and social security | 461,990 | 451,261 | |
Accruals and deferred income |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Net obligations under finance lease and hire purchase contracts | - |
|
|
Bank loans |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Amounts falling due within one year or on demand: | |||
Bank loans |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Amounts falling due between one and five years: | |||
Bank loans |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
The future minimum finance lease payments are as follows: | |||
Not later than one year |
|
|
|
Later than one year and not later than five years | - |
|
|
|
|
||
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Other timing differences | 117,569 | 110,765 | |
Deferred Tax | Total | |
---|---|---|
£ | £ | |
As at 1 January 2023 |
|
110,765 |
Deferred taxation |
|
|
Balance at 31 December 2023 |
|
117,569 |
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
||
As at 1 January 2023 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 December 2023 | |
---|---|---|---|---|---|
£ | £ | £ | £ | £ | |
Mrs Sacha Jones |
|
|
( |
- |
|
Mr Mukhtar Hussain |
|
|
( |
- |
|
Mr Robert Stevenson |
|
|
|
- |
|
Mrs Martine Box |
|
|
( |
- |
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Interim dividend paid |
|
|
|
100,000 | - | ||
Rozy Futures Limited
Mr Hussain, the company's director and shareholder has a significant interest in Rozy Futures Limited.
The company has rental lease agreement with Rozy Futures Limited for its premises and the rent charged to the company during the period amounted to £115,310 (2022:£115,310). Rozy Futures Limited has a loan balance with the company on an interest free and unsecured basis which is repayable on demand. At the year end the balance owed to the company amounted to £132,328 (2022: £168,328).
Scribble and Print Limited
Wholly owned subsidiary
The company had historically paid expenses on behalf of Scribble and Print Limited amounting to £5,078 which has been fully provided this year. The balance due from Scribble and Print Limited as at 31 December 2023 was £Nil (2022: £5,078)
JC Assets Ltd
Sohaib Hussain, a shareholder, has an interest in JC Assets Ltd
The company loaned £50,000 to JC Assets Ltd with a £1,000 coupon which was repaid during the year. The balance outstanding as at 31 December 2023 was £Nil (2022: £50,000).
Organon Pension SIPP re M Hussain
Mr M Hussain, the company's director and shareholder is a trustee and beneficiary of Organon Pension SIPP re M. Hussain.
The Pension Scheme and Rozy Futures Limited own the property and jointly charge rent to the company under a lease agreement. Rent paid to the Pension Scheme in 2023 amounted to £44,690 (2022: £44,690). There was no outstanding balance at the year end.