Directors |
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Secretary |
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Company Number |
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Registered Office | Moira Ind. Estate |
Old Kilmore Road | |
Moira | |
BT67 0LZ | |
Business | Moira Ind. Estate |
Old Kilmore Road | |
Moira | |
BT67 0LZ | |
Auditors |
|
Quaker Buildings | |
High Street | |
Lurgan | |
Co. Armagh | |
BT66 8BB | |
Bankers | Bank of Ireland |
4-8 High Street | |
Belfast | |
Co. Antrim | |
BT1 2BA | |
Director
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11 June 2024
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Director
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for and on behalf of
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Quaker Buildings
High Street
Lurgan
Co. Armagh
BT66 8BB
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2023 | 2022 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER | 3 |
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Cost of sales |
( |
( |
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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 |
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OPERATING (LOSS)/PROFIT | 4 |
( |
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Interest payable and similar charges | 9 |
( |
( |
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(LOSS)/PROFIT BEFORE TAXATION |
( |
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Tax on (Loss)/profit | 10 |
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( |
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(LOSS)/PROFIT AFTER TAXATION BEING (LOSS)/PROFIT FOR THE FINANCIAL YEAR |
( |
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2023 | 2022 | |||
---|---|---|---|---|
£ | £ | |||
LOSS FOR THE FINANCIAL YEAR |
( |
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OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
Prior year adjustment | - | (691,623) | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
( |
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2023 | 2022 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Intangible Assets | 11 |
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Tangible Assets | 12 |
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CURRENT ASSETS | |||||
Stocks | 13 |
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Debtors | 14 |
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Cash at bank and in hand |
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||||
Creditors: Amounts Falling Due Within One Year | 15 |
( |
( |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 16 |
( |
( |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | - |
( |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 19 |
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Capital redemption reserve |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 2,232,029 | 3,154,243 | |||
Director
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Share Capital | Capital Redemption | Profit and Loss Account | Total | |
---|---|---|---|---|
£ | £ | £ | £ | |
As at 1 January 2022 as previously stated |
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3,745,508 |
Prior year adjustment | - | - |
( |
( |
As at 1 January 2022 as restated |
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3,053,885 |
Profit for the year and total comprehensive income | - | - |
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180,358 |
Dividends paid | - | - | (80,000) | (80,000) |
As at 31 December 2022 and 1 January 2023 |
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3,154,243 |
Loss for the year and total comprehensive income | - | - |
( |
(842,312) |
Dividends paid | - | - | (80,000) | (80,000) |
Arising on shares issued during the period |
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- | - | 98 |
As at 31 December 2023 |
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2,232,029 |
2023 | 2022 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
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Interest paid |
( |
( |
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Tax paid |
( |
( |
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Net cash generated from operating activities |
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Cash flows from investing activities | ||||
Purchase of intangible assets |
( |
( |
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Purchase of tangible assets |
( |
( |
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Proceeds from disposal of tangible assets |
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Grants received/(refunded) |
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( |
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Net cash used in investing activities |
( |
( |
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Cash flows from financing activities | ||||
Proceeds from issue of share capital |
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Equity dividends paid |
( |
( |
||
Proceeds from new bank borrowings |
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Repayment of bank borrowings |
( |
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Amount introduced by directors | 85,105 | 85,406 | ||
Amount withdrawn by directors | (82,937) | (75,527) | ||
Net cash (used in)/generated from financing activities |
( |
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Increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year | 2 |
( |
( |
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Cash and cash equivalents at end of year | 2 |
( |
( |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
(Loss)/profit for the financial year |
( |
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Adjustments for: | |||
Tax on (loss)/profit |
( |
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Interest expense |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Profit on disposal of tangible assets | (894) | (14,502) | |
Grant income | (5,810) | (2,500) | |
Movements in working capital: | |||
Decrease/(increase) in stocks |
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( |
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Decrease in trade and other debtors |
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Increase/(decrease) in trade and other creditors |
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( |
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Net cash generated from operations |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
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Overdraft facilities repayable on demand |
( |
( |
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Cash and cash equivalents as stated in the Statement of Cash Flows | (1,781,140) | (3,629,182) | |
As at 1 January 2023 | Cash flows | As at 31 December 2023 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
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(18,863) |
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Overdraft facilities repayable on demand | (3,662,390) | 1,866,905 | (1,795,485) |
Cash and cash equivalents |
( |
1,848,042 |
( |
Debts falling due after more than one year | (734,677) | 407,151 | (327,526) |
(4,363,859) | 2,255,193 | (2,108,666) | |
Motor Vehicles |
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Fixtures & Fittings |
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Computer Equipment |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Bad debts | (6,146) | 201,833 | |
Depreciation of tangible fixed assets |
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Amortisation of intangible fixed assets |
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Profit on disposal of tangible fixed assets |
( |
( |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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Other Services | |||
Other non-audit services |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Wages and salaries |
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Social security costs |
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Other pension costs |
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2023 | 2022 | ||
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Office and administration |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
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Company contributions to money purchase pension schemes |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Bank loans and overdrafts |
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Other finance charges |
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236,648 | 142,641 | ||
The tax (credit)/charge on the (loss)/profit for the year was as follows:
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Tax Rate | 2023 | 2022 | |||
---|---|---|---|---|---|
2023 | 2022 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 19.0% | 19.0% |
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Deferred Tax | |||||
Deferred taxation |
( |
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Total tax charge for the period |
( |
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The actual (credit)/charge for the year can be reconciled to the expected (credit)/charge for the year based on the (loss)/profit and the standard rate of corporation tax as follows:
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2023 | 2022 | ||||
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£ | £ | ||||
Profit before tax | (1,068,584) | 218,890 | |||
Tax on profit at 19% (UK standard rate) |
( |
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Expenses not deductible for tax purposes |
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Capital allowances |
( |
( |
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Prior period adjustment |
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Deferred tax relating to changes in tax rates or laws |
( |
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Total tax charge for the period | (226,272) | 38,532 | |||
Other | |||
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£ | |||
Cost | |||
As at 1 January 2023 |
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Additions |
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As at 31 December 2023 |
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Amortisation | |||
As at 1 January 2023 |
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Provided during the period |
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As at 31 December 2023 |
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Net Book Value | |||
As at 31 December 2023 |
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As at 1 January 2023 |
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Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
---|---|---|---|---|
£ | £ | £ | £ | |
Cost | ||||
As at 1 January 2023 |
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Additions |
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Disposals |
( |
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( |
( |
As at 31 December 2023 |
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Depreciation | ||||
As at 1 January 2023 |
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Provided during the period |
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Disposals |
( |
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( |
( |
As at 31 December 2023 |
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Net Book Value | ||||
As at 31 December 2023 |
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As at 1 January 2023 |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Stock |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Trade debtors |
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Other debtors | 582,867 | 687,556 | |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Trade creditors |
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Bank loans and overdrafts |
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Other creditors | 516,665 | 534,203 | |
Corporation tax | - |
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Taxation and social security | 23,077 | 104,420 | |
Accruals and deferred income |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Bank loans |
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Accruals and deferred income |
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2023 | 2022 | ||
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£ | £ | ||
Bank loans and overdrafts | 1,795,485 | 3,662,390 |
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Amounts falling due between one and five years: | |||
Bank loans |
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Deferred Tax | Total | |
---|---|---|
£ | £ | |
As at 1 January 2023 |
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59,840 |
Deferred taxation |
( |
( |
Balance at 31 December 2023 |
( |
(188,151) |
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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As at 1 January 2023 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 December 2023 | |
---|---|---|---|---|---|
£ | £ | £ | £ | £ | |
Mr Iain Mercer |
( |
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( |
- |
( |
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Interim dividend paid |
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