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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Income statement |
9 |
Statement of financial position |
10 |
Statement of changes in equity |
11 |
Statement of cash flows |
12 |
Notes to the financial statements |
13 |
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Strategic Report |
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Director |
Director |
Registered office: |
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Directors' Report |
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Director |
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 |
8th Floor Beckett House |
36 Old Jewry |
London |
EC2R 8DD |
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Income Statement |
2023 |
2022 |
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(restated) |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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------------ |
------------ |
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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 (loss)/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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------------ |
------------ |
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(Loss)/profit before taxation |
(
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Tax on (loss)/profit |
12 |
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--------- |
-------- |
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(Loss)/profit for the financial year |
(
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--------- |
-------- |
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Statement of Financial Position |
2023 |
2022 |
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(restated) |
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Note |
£ |
£ |
£ |
Intangible assets |
14 |
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Tangible assets |
15 |
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------------ |
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Debtors |
16 |
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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 |
17 |
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------------ |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
18 |
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Taxation including deferred tax |
20 |
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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 |
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--------- |
------------ |
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Shareholders funds |
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--------- |
------------ |
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Director |
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 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 |
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 December 2022 |
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Loss for the year |
(
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(
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---- |
------------ |
------------ |
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Total comprehensive income for the year |
– |
(
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(
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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 December 2023 |
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---- |
--------- |
--------- |
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Statement of Cash Flows |
2023 |
2022 |
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(restated) |
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£ |
£ |
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(Loss)/profit for the financial year |
(
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Adjustments for: |
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Depreciation of tangible assets |
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Amortisation of intangible assets |
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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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Loss/(gains) on disposal of tangible assets |
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(
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Tax on (loss)/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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Cash generated from operations |
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Interest paid |
(
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(
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Interest received |
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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 from/(used in) investing activities |
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(
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--------- |
--------- |
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Proceeds from borrowings |
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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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--------- |
--------- |
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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 |
111,534 |
591,398 |
--------- |
--------- |
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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 |
Goodwill |
- |
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Long leasehold property |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Rendering of services |
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------------ |
------------ |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Rental income |
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– |
-------- |
---- |
|
2023 |
2022 |
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(restated) |
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£ |
£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Loss/(gains) on disposal of tangible assets |
|
(
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Impairment of trade debtors |
– |
4,078 |
Operating lease rentals |
|
– |
--------- |
--------- |
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2023 |
2022 |
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(restated) |
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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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Administrative staff |
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Management staff |
2 |
2 |
---- |
---- |
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---- |
---- |
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2023 |
2022 |
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(restated) |
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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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(restated) |
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£ |
£ |
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Remuneration |
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-------- |
-------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Interest on bank deposits |
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---- |
---- |
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2023 |
2022 |
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(restated) |
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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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(restated) |
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£ |
£ |
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Origination and reversal of timing differences |
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------- |
-------- |
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Tax on (loss)/profit |
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------- |
-------- |
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2023 |
2022 |
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(restated) |
||
£ |
£ |
|
(Loss)/profit on ordinary activities before taxation |
(
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--------- |
-------- |
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(Loss)/profit on ordinary activities by rate of tax |
(
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Effect of capital allowances and depreciation |
(
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(
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Unused tax losses |
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Deferred tax |
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--------- |
--------- |
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Tax on (loss)/profit |
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--------- |
--------- |
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2023 |
2022 |
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(restated) |
||
£ |
£ |
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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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Goodwill |
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£ |
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Cost |
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At 1 January 2023 (as restated) and 31 December 2023 |
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--------- |
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Amortisation |
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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 |
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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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Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 Jan 2023 (as restated) |
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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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At 31 Dec 2023 |
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--------- |
------------ |
------- |
------------ |
-------- |
------------ |
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Depreciation |
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At 1 Jan 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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At 31 Dec 2023 |
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--------- |
------------ |
------- |
------------ |
-------- |
------------ |
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Carrying amount |
||||||
At 31 Dec 2023 |
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--------- |
------------ |
------- |
------------ |
-------- |
------------ |
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At 31 Dec 2022 |
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--------- |
------------ |
------- |
------------ |
-------- |
------------ |
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Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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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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(restated) |
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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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2023 |
2022 |
|
(restated) |
||
£ |
£ |
|
Other debtors |
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|
--------- |
--------- |
|
2023 |
2022 |
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(restated) |
||
£ |
£ |
|
Bank loans and overdrafts |
|
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Trade creditors |
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Accruals and deferred income |
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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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Director loan accounts |
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Other creditors |
|
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------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
|
(restated) |
||
£ |
£ |
|
Obligations under finance leases and hire purchase contracts |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
(restated) |
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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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Deferred tax (note 21) |
|
£ |
|
At 1 January 2023 (as restated) |
|
Additions |
|
--------- |
|
At 31 December 2023 |
|
--------- |
|
2023 |
2022 |
|
(restated) |
||
£ |
£ |
|
Included in provisions (note 20) |
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--------- |
--------- |
|
2023 |
2022 |
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(restated) |
||
£ |
£ |
|
Accelerated capital allowances |
|
|
Unused tax losses |
(
|
(
|
--------- |
--------- |
|
323,786 |
319,341 |
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--------- |
--------- |
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Share capital | Profit & loss account | Total | ||
£ | £ | £ | ||
As at January 2023 (as previously stated) | 100 | 2,050,249 | 2,050,349 | |
Effect of prior year adjustment | – | (764,310) | (764,310) | |
As at January 2023 (restated) | 100 | 1,285,939 | 1,286,039 | |
2023 |
2022 |
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(restated) |
||||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
---- |
---- |
---- |
---- |
|
At 1 Jan 2023 |
Cash flows |
New finance leases |
At 31 Dec 2023 |
|
£ |
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(94,774) |
|
|
Debt due within one year |
(1,234,093) |
45,148 |
(200,262) |
(1,389,207) |
Debt due after one year |
(1,150,869) |
478,356 |
(699,684) |
(1,372,197) |
------------ |
--------- |
--------- |
------------ |
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(
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(
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(
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------------ |
--------- |
--------- |
------------ |
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2023 |
2022 |
|
(restated) |
||
£ |
£ |
|
Not later than 1 year |
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Later than 1 year and not later than 5 years |
|
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Later than 5 years |
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------------- |
------------- |
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------------- |
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Notes to the Financial Statements (continued) |
2023 |
2022 |
|
(restated) |
||
£ |
£ |
|
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 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
£ |
||
|
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|
(
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(
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(
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(
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-------- |
--------- |
--------- |
------- |
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(
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(
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(
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-------- |
--------- |
--------- |
------- |
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2022 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
|
|
(
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18,333
|
|
|
(
|
|
(
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(18,806) |
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-------- |
--------- |
--------- |
-------- |
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(
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(
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(
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-------- |
--------- |
--------- |
-------- |
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