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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
7 |
Independent auditor's report to the members |
9 |
Statement of comprehensive income |
13 |
Statement of financial position |
14 |
Statement of changes in equity |
15 |
Statement of cash flows |
16 |
Notes to the financial statements |
17 |
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Strategic Report |
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Director |
Registered office: |
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Directors' Report |
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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 |
57a Broadway |
Leigh-on-Sea |
Essex |
SS9 1PE |
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Statement of Comprehensive Income |
2024 |
2023 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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Gross profit |
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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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Other interest receivable and similar income |
10 |
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Interest payable and similar expenses |
11 |
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Profit before taxation |
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Tax on profit |
12 |
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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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Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
£ |
Tangible assets |
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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Taxation including deferred tax |
18 |
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Net assets |
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Called up share capital |
22 |
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Profit and loss account |
23 |
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Shareholders funds |
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Director |
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Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 April 2022 |
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Profit for the year |
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-------- |
--------- |
--------- |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
13 |
– |
(
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(
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-------- |
--------- |
--------- |
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Total investments by and distributions to owners |
– |
(
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(
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At 31 March 2023 |
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Profit for the year |
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-------- |
--------- |
--------- |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
13 |
– |
(
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(
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---- |
-------- |
-------- |
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Total investments by and distributions to owners |
– |
(
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(
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-------- |
------------ |
------------ |
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At 31 March 2024 |
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-------- |
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Statement of Cash Flows |
2024 |
2023 |
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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 |
60,634
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59,455
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Government grant income |
– |
(
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Other interest receivable and similar income |
(
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(
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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 expenses |
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Changes in: |
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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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--------- |
--------- |
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Cash generated from operations |
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Interest paid |
(
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(
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Interest received |
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Tax paid |
– |
(
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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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Government grant income |
– |
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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 in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
15,569 |
137,982 |
-------- |
--------- |
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Cash and cash equivalents at end of year |
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--------- |
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Notes to the Financial Statements |
Plant and machinery | - |
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Fixtures and fittings | - |
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Leased assets | - |
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Website development costs | - |
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|
2024 |
2023 |
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£ |
£ |
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Rendering of services |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Government grant income |
– |
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---- |
---- |
|
2024 |
2023 |
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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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(
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Impairment of trade debtors |
18,279 |
(3,595) |
Foreign exchange differences |
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-------- |
-------- |
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2024 |
2023 |
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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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Other non-audit services |
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------- |
------- |
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2024 |
2023 |
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No. |
No. |
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Administrative staff |
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Management staff |
3 |
3 |
---- |
---- |
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---- |
---- |
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2024 |
2023 |
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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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2024 |
2023 |
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£ |
£ |
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Remuneration |
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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Interest on cash and cash equivalents |
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---- |
---- |
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2024 |
2023 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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Other interest payable and similar charges |
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-------- |
------- |
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-------- |
------- |
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2024 |
2023 |
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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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Impact of change in tax rate |
7,210
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– |
------- |
------- |
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Total deferred tax |
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--------- |
--------- |
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Tax on profit |
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--------- |
--------- |
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2024 |
2023 |
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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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R&D claims in the year |
– |
(19,790) |
Adjustment for 130% superallowance |
(
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(
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Impact of change in tax rate |
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– |
--------- |
--------- |
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Tax on profit |
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--------- |
--------- |
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2024 |
2023 |
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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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Plant and machinery |
Fixtures, Fittings & Equipment |
Leased Assets |
Website development costs |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 April 2023 |
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211,103
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Additions |
– |
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31,716
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Disposals |
– |
– |
(
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– |
(
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-------- |
-------- |
--------- |
-------- |
--------- |
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At 31 March 2024 |
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215,675
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-------- |
-------- |
--------- |
-------- |
--------- |
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Depreciation |
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At 1 April 2023 |
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107,295
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Charge for the year |
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35,070
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Disposals |
– |
– |
(
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– |
(
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-------- |
-------- |
--------- |
-------- |
--------- |
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At 31 March 2024 |
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130,066
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-------- |
-------- |
--------- |
-------- |
--------- |
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Carrying amount |
|||||
At 31 March 2024 |
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85,609
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-------- |
-------- |
--------- |
-------- |
--------- |
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At 31 March 2023 |
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103,808
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|
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-------- |
-------- |
--------- |
-------- |
--------- |
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2024 |
2023 |
|
£ |
£ |
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Trade debtors |
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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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2024 |
2023 |
|
£ |
£ |
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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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Director loan accounts |
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Other creditors |
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------------ |
------------ |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Bank loans and overdrafts |
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-------- |
-------- |
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Deferred tax (note 19) |
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£ |
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At 1 April 2023 |
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Additions |
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-------- |
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At 31 March 2024 |
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-------- |
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2024 |
2023 |
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£ |
£ |
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Included in provisions (note 18) |
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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Accelerated capital allowances |
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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Government grants released to profit or loss |
– |
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---- |
---- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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50,000 |
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50,000 |
-------- |
-------- |
-------- |
-------- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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12,500 |
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12,500 |
-------- |
-------- |
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-------- |
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At 1 Apr 2023 |
Cash flows |
At 31 Mar 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(3,438) |
|
Debt due within one year |
(77,176) |
31,475 |
(45,701) |
Debt due after one year |
(30,833) |
10,000 |
(20,833) |
-------- |
-------- |
-------- |
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(
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(
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-------- |
-------- |
-------- |
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Transaction value |
Balance owed by/(owed to) |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
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Faber House Limited
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1,305,523
|
|
– |
– |
(
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(
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--------- |
--------- |
------------ |
------------ |
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