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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Statement of income and retained earnings |
9 |
Statement of financial position |
10 |
Statement of cash flows |
11 |
Notes to the financial statements |
12 |
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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 |
Lowin House |
Tregolls Road |
Truro |
Cornwall |
TR1 2NA |
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Statement of Income and Retained Earnings |
2024 |
2023 |
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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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Operating profit |
6 |
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Other interest receivable and similar income |
9 |
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Interest payable and similar expenses |
10 |
– |
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Profit before taxation |
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Tax on profit |
11 |
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Profit for the financial year and total comprehensive income |
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Retained earnings at the start of the year |
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Retained earnings at the end of the year |
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Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
£ |
Tangible assets |
12 |
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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 |
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Total assets less current liabilities |
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Taxation including deferred tax |
16 |
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Net assets |
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Called up share capital |
19 |
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Profit and loss account |
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Shareholders funds |
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Director |
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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 |
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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)/loss on disposal of tangible assets |
(
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Tax on profit |
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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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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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Interest received |
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Tax paid |
(
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(
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--------- |
--------- |
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Net cash used in operating activities |
(
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(
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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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Payments of finance lease liabilities |
– |
(
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--------- |
--------- |
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Net cash from/(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 |
205,321 |
409,569 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Leasehold improvements |
- |
Straight line over 15 years |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
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2024 |
2023 |
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£ |
£ |
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Sale of goods |
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------------ |
------------- |
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2024 |
2023 |
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£ |
£ |
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Management charges receivable |
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Other operating income |
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--------- |
-------- |
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--------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Depreciation of tangible assets |
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(Gains)/loss on disposal of tangible assets |
(
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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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2024 |
2023 |
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No. |
No. |
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Administrative staff |
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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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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 obligations under finance leases and hire purchase contracts |
– |
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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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-------- |
--------- |
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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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Effect of capital allowances and depreciation |
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(
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Other tax adjustment to increase/(decrease) tax liability - deferred tax |
(12,343) |
85,193 |
--------- |
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Tax on profit |
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--------- |
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Short leasehold properties |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 February 2023 |
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Additions |
– |
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Disposals |
– |
– |
(
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– |
(
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-------- |
--------- |
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------------ |
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At 31 January 2024 |
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-------- |
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Depreciation |
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At 1 February 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 January 2024 |
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-------- |
--------- |
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--------- |
------------ |
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Carrying amount |
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At 31 January 2024 |
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-------- |
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------------ |
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At 31 January 2023 |
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-------- |
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--------- |
------------ |
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2024 |
2023 |
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£ |
£ |
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Raw materials and consumables |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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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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2024 |
2023 |
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£ |
£ |
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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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Amounts owed to connected undertakings |
3,713,221 |
3,326,171 |
Other creditors |
– |
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------------ |
------------ |
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------------ |
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Deferred tax (note 17) |
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£ |
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At 1 February 2023 |
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Unused amounts reversed |
(
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-------- |
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At 31 January 2024 |
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-------- |
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2024 |
2023 |
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£ |
£ |
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Included in provisions (note 16) |
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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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No. |
£ |
No. |
£ |
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2 |
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2 |
---- |
---- |
---- |
---- |
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At 1 Feb 2023 |
Cash flows |
At 31 Jan 2024 |
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£ |
£ |
£ |
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Cash at bank and in hand |
|
55,913 |
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Debt due within one year |
(82,233) |
(192,840) |
(275,073) |
--------- |
--------- |
--------- |
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(
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(
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--------- |
--------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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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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Later than 5 years |
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--------- |
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Notes to the Financial Statements (continued) |