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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 24 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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3B Swallowfield Courtyard |
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Wolverhampton Road |
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Oldbury |
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West Midlands |
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B69 2JG |
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Bankers |
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Market Place |
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Willenhall |
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West Midlands |
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WV13 2AF |
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Solicitors |
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3 Waterfront Business Park |
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Brierley Hill |
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West Midlands |
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DY5 1LX |
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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 |
3B Swallowfield Courtyard |
Wolverhampton Road |
Oldbury |
West Midlands |
B69 2JG |
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Statement of Comprehensive Income |
2023 |
2022 |
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Note |
£000 |
£000 |
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Turnover |
4 |
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Raw material and consumables |
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Change in stocks of finished goods and in work in progress |
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(
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Staff costs |
7 |
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Depreciation and other amounts written off tangible and intangible fixed assets |
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Other operating expenses |
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-------- |
-------- |
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Operating profit |
5 |
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Other interest receivable and similar income |
9 |
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Amounts written back to investments |
– |
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Interest payable and similar expenses |
10 |
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-------- |
-------- |
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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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Statement of Financial Position |
2023 |
2022 |
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Note |
£000 |
£000 |
£000 |
Tangible assets |
14 |
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Investments |
15 |
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------- |
------- |
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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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-------- |
-------- |
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Creditors: amounts falling due within one year |
18 |
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Net current assets |
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-------- |
-------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
19 |
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Taxation including deferred tax |
20 |
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Other provisions |
20 |
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---- |
---- |
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294 |
218 |
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-------- |
-------- |
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Net assets |
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-------- |
-------- |
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Called up share capital |
24 |
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Profit and loss account |
25 |
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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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£000 |
£000 |
£000 |
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At 1 January 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 |
12 |
– |
(
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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 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 |
12 |
– |
(
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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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£000 |
£000 |
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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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Amounts written back to investments |
– |
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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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Tax on profit |
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Accrued expenses |
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Changes in: |
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Stocks |
– |
(
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Trade and other debtors |
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(
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Trade and other creditors |
(
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Provisions and employee benefits |
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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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------- |
------- |
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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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Repayments of borrowings |
(
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(
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Funds paid to group undertakings |
– |
(
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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 increase/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
1,107 |
2,745 |
------- |
------- |
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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 |
Intellectual Property |
- |
2 years |
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Freehold Property |
- |
2.50% straight line |
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Plant & Machinery |
- |
7.5% - 25% straight line |
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2023 |
2022 |
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£000 |
£000 |
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Sale of goods |
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-------- |
-------- |
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2023 |
2022 |
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£000 |
£000 |
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United Kingdom |
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Overseas |
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-------- |
-------- |
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-------- |
-------- |
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2023 |
2022 |
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£000 |
£000 |
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Gains on disposal of tangible assets |
– |
(
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Research and development expenditure written off |
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Auditors fee |
15 |
15 |
Accountancy services |
1 |
1 |
Tax advisory services |
4 |
3 |
Operating lease rentals |
65 |
53 |
---- |
---- |
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2023 |
2022 |
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£000 |
£000 |
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Fees payable for the audit of the financial statements |
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---- |
---- |
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Taxation advisory services |
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Other non-audit services |
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---- |
---- |
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5 |
4 |
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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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£000 |
£000 |
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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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£000 |
£000 |
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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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No. |
No. |
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Defined contribution plans |
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---- |
---- |
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2023 |
2022 |
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£000 |
£000 |
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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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£000 |
£000 |
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Interest on cash and cash equivalents |
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---- |
---- |
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2023 |
2022 |
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£000 |
£000 |
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Interest on banks loans and overdrafts |
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---- |
---- |
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2023 |
2022 |
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£000 |
£000 |
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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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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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£000 |
£000 |
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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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Rounding on tax charge |
2 |
– |
Research and development relief |
(4) |
(12) |
Difference due to change of tax rate for deferred tax |
33 |
– |
------- |
------- |
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Tax on profit |
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------- |
------- |
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2023 |
2022 |
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£000 |
£000 |
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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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Intellectual property |
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£000 |
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Cost |
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At 1 January 2023 and 31 December 2023 |
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---- |
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Amortisation |
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At 1 January 2023 and 31 December 2023 |
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---- |
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Carrying amount |
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At 31 December 2023 |
– |
---- |
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At 31 December 2022 |
– |
---- |
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Freehold property |
Plant and machinery |
Total |
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£000 |
£000 |
£000 |
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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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At 31 December 2023 |
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------- |
------- |
------- |
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Depreciation |
|||
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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At 31 December 2022 |
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------- |
------- |
------- |
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Shares in group undertakings |
Shares in participating interests |
Total |
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£000 |
£000 |
£000 |
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Cost |
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At 1 January 2023 and 31 December 2023 |
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------- |
---- |
------- |
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Impairment |
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At 1 January 2023 and 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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£000 |
£000 |
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GRP Signs Limited |
2,790 |
2,790 |
|
2023 |
2022 |
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£000 |
£000 |
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Raw materials and consumables |
|
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Finished goods and goods for resale |
|
|
------- |
------- |
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|
|
|
------- |
------- |
|
2023 |
2022 |
|
£000 |
£000 |
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Trade debtors |
|
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Amounts owed by group undertakings |
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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 |
|
£000 |
£000 |
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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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Other creditors |
|
|
------- |
------- |
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|
|
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------- |
------- |
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2023 |
2022 |
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£000 |
£000 |
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Bank loans and overdrafts |
|
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---- |
------- |
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Warranties |
Deferred tax (note 21) |
Total |
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£000 |
£000 |
£000 |
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At 1 January 2023 |
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Additions |
|
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---- |
---- |
---- |
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At 31 December 2023 |
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|
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---- |
---- |
---- |
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2023 |
2022 |
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£000 |
£000 |
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Included in provisions (note 20) |
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---- |
---- |
|
2023 |
2022 |
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£000 |
£000 |
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Accelerated capital allowances |
|
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Provisions |
(
|
(
|
---- |
---- |
|
148 |
103 |
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---- |
---- |
|
2023 |
2022 |
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No. |
£ |
No. |
£ |
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180,000 |
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180,000 |
--------- |
--------- |
--------- |
--------- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£000 |
£000 |
£000 |
|
Cash at bank and in hand |
|
287 |
|
Debt due within one year |
(2,975) |
(93) |
(3,068) |
Debt due after one year |
(1,317) |
822 |
(495) |
------- |
------- |
------- |
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(
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(
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------- |
------- |
------- |
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2023 |
2022 |
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£000 |
£000 |
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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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