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FOR THE YEAR ENDED |
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FINANCIAL STATEMENTS |
Contents |
Pages |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
3 to 5 |
Independent auditor's report to the members |
6 to 9 |
Statement of comprehensive income |
10 |
Statement of financial position |
11 |
Statement of changes in equity |
12 |
Statement of cash flows |
13 |
Notes to the financial statements |
14 to 22 |
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OFFICERS AND PROFESSIONAL ADVISERS |
The board of directors |
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Company secretary |
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Registered office |
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United Kingdom |
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Auditor |
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Chartered Certified Accountants & statutory auditor |
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Numeric House |
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98 Station Road |
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Sidcup |
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Kent |
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DA15 7BY |
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Bankers |
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Chatham Customer Service Centre |
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Western Avenue |
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Waterside |
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Chatham Maritime |
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ME4 4RT |
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Solicitors |
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Griffin House |
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135 High Street |
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Crawley |
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West Sussex |
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RH10 1DQ |
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STRATEGIC REPORT |
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DIRECTORS' REPORT |
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(Appointed
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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 Certified Accountants & statutory auditor |
Numeric House |
98 Station Road |
Sidcup |
Kent |
DA15 7BY |
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STATEMENT OF COMPREHENSIVE INCOME |
2023 |
2022 |
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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 |
6 |
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Operating profit |
7 |
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Interest receivable |
11 |
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– |
Interest payable |
12 |
– |
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Profit before taxation |
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Taxation on ordinary activities |
13 |
(
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Profit for the financial year and total comprehensive income |
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STATEMENT OF FINANCIAL POSITION |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Tangible assets |
15 |
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Stocks |
16 |
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Debtors |
17 |
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Cash at bank and in hand |
– |
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Creditors: amounts falling due within one year |
19 |
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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 |
20 |
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– |
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Net assets |
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Called up share capital |
24 |
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Share premium account |
25 |
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Profit and loss account |
25 |
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Shareholders funds |
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STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Share premium account |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 January 2022 |
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Profit for the year |
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Total comprehensive income for the year |
– |
– |
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Issue of shares |
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– |
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Dividends paid and payable |
14 |
– |
– |
(
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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 December 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 |
14 |
– |
– |
(
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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 December 2023 |
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-------- |
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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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Interest receivable |
(
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– |
Interest payable |
– |
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Loss/(gains) on disposal of tangible assets |
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(
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Taxation on ordinary activities |
(
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Accrued expenses/(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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(
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Trade and other creditors |
(
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Cash generated from operations |
(
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(
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Interest paid |
– |
(
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Interest received |
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– |
Tax received |
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– |
------------ |
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Net cash used in 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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Net cash used in investing activities |
(
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(
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Proceeds from issue of ordinary shares |
– |
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Proceeds from borrowings |
– |
(
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Proceeds from loans from group undertakings |
(
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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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Net cash (used in)/from financing activities |
(
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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 |
427,860 |
1,366,614 |
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Cash and cash equivalents at end of year |
18 |
(
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NOTES TO THE FINANCIAL STATEMENTS |
Plant & Machinery |
- |
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Fixtures & Fittings |
- |
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Motor Vehicles |
- |
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2023 |
2022 |
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£ |
£ |
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Construction contracts |
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------------- |
------------- |
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2023 |
2022 |
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£ |
£ |
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Management charges receivable |
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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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Loss/(gains) on disposal of tangible assets |
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(
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Impairment of trade debtors |
– |
91,151 |
-------- |
-------- |
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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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Distribution 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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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Aggregate remuneration |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Interest on cash and cash equivalents |
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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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Adjustments in respect of prior periods |
(
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– |
Origination and reversal of timing differences |
(
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--------- |
------- |
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Taxation on ordinary activities |
(
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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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– |
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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Effect of group relief |
(
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(
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Effect on deferred tax |
(3)
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5,361
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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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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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Disposals |
(
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– |
(
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(
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-------- |
-------- |
-------- |
--------- |
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At 31 December 2023 |
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-------- |
-------- |
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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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-------- |
-------- |
-------- |
--------- |
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At 31 December 2023 |
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-------- |
-------- |
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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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2023 |
2022 |
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£ |
£ |
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Raw materials |
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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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Deferred tax asset |
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Prepayments and accrued income |
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Corporation tax repayable |
– |
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Directors loan account |
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Amounts recoverable on contracts |
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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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Cash at bank and in hand |
– |
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Bank overdrafts |
(
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– |
--------- |
--------- |
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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 group undertakings |
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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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– |
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 |
|
– |
Later than 1 year and not later than 5 years |
|
– |
-------- |
---- |
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– |
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-------- |
---- |
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2023 |
2022 |
|
£ |
£ |
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Included in debtors (note 17) |
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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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---- |
---- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
|
|
|
90,098 |
|
90,098 |
--------- |
-------- |
--------- |
-------- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(427,860) |
– |
Bank overdrafts |
– |
(881,974) |
(881,974) |
Debt due within one year |
(1,520,355) |
363,552 |
(1,156,803) |
Debt due after one year |
– |
(52,176) |
(52,176) |
------------ |
--------- |
------------ |
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(
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(
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(
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------------ |
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NOTES TO THE FINANCIAL STATEMENTS (continued) |