2024
|
2023
|
||
£
|
£
|
||
Turnover
|
10,487,399
|
13,584,943
|
|
Gross profit
|
1,638,514
|
2,342,529
|
|
Operating profit
|
263,107
|
922,041
|
|
Profit before tax
|
294,343
|
925,080
|
|
Net profit
|
201,444
|
757,888
|
|
Gross profit %
|
16
|
17
|
|
Debtor days
|
70
|
66
|
|
Creditor days
|
69
|
60
|
Director
|
23 October 2024
|
|
|
|
|
Director
|
|
for and on behalf of
|
|
Chartered Accountants and Statutory Auditors
41 Knowsley Street
Bury BL9 0ST
|
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER | 4 |
|
|
|
Cost of sales |
( |
( |
||
GROSS PROFIT |
|
|
||
Distribution costs |
( |
( |
||
Administrative expenses |
( |
( |
||
OPERATING PROFIT | 5 |
|
|
|
Profit on disposal of fixed assets |
|
|
||
Other interest receivable and similar income | 10 |
|
|
|
Interest payable and similar charges | 11 |
( |
( |
|
PROFIT BEFORE TAXATION |
|
|
||
Tax on Profit | 12 |
( |
( |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
|
|
||
2024 | 2023 | |||
---|---|---|---|---|
£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
|
|
||
OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
|
|
||
2024 | 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 13 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 14 |
|
|
||
Debtors | 15 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 16 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 17 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 19 |
|
|
||
Revaluation reserve | 21 |
|
|
||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 3,657,682 | 3,487,010 | |||
Director
|
|
Share Capital | Revaluation reserve | Profit and Loss Account | Total | |
---|---|---|---|---|
£ | £ | £ | £ | |
As at 1 February 2022 |
|
|
|
2,729,121 |
Profit for the year and total comprehensive income | - | - |
|
757,889 |
Transfer from revaluation reserve | - | - | 4,587 | 4,587 |
Transfer to/from Profit & Loss Account | - |
( |
- | (4,587) |
As at 31 January 2023 and 1 February 2023 |
|
|
|
3,487,010 |
Profit for the year and total comprehensive income | - | - |
|
170,672 |
Transfer from revaluation reserve | - | - | 4,587 | 4,587 |
Transfer to/from Profit & Loss Account | - |
( |
- | (4,587) |
As at 31 January 2024 |
|
|
|
3,657,682 |
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
|
|
|
Interest paid |
( |
( |
||
Tax paid |
( |
( |
||
Net cash generated from operating activities |
|
|
||
Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
( |
||
Proceeds from disposal of tangible assets |
|
|
||
Interest received |
|
|
||
Net cash generated from/(used in) investing activities |
|
( |
||
Increase in cash and cash equivalents |
|
|
||
Cash and cash equivalents at beginning of year | 2 |
|
|
|
Cash and cash equivalents at end of year | 2 |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Tax on profit |
|
|
|
Interest expense |
|
|
|
Interest income |
( |
( |
|
Depreciation of tangible assets |
|
|
|
Profit on disposal of tangible assets | (991) | - | |
Movements in working capital: | |||
Decrease in stocks |
|
|
|
Decrease in trade and other debtors |
|
|
|
Decrease in trade and other creditors |
( |
( |
|
Net cash generated from operations |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 February 2023 | Cash flows | As at 31 January 2024 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
208,871 |
|
Freehold |
|
Plant & Machinery |
|
Motor Vehicles |
|
Fixtures & Fittings |
|
Computer Equipment |
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
United Kingdom |
|
|
|
Europe |
|
|
|
10,487,399 | 13,584,943 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bad debts | 39,271 | 7,393 | |
Depreciation of tangible fixed assets |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
Office and administration |
|
|
|
Sales, marketing and distribution |
|
|
|
Warehouse |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank interest receivable |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank loans and overdrafts |
|
|
|
The tax charge on the profit for the year was as follows:
|
|||||
Tax Rate | 2024 | 2023 | |||
---|---|---|---|---|---|
2024 | 2023 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 24.0% | 19.0% |
|
|
|
Deferred Tax | |||||
Deferred taxation |
|
|
|||
Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
|
|||||
2024 | 2023 | ||||
£ | £ | ||||
Profit before tax | 294,342 | 925,081 | |||
Tax on profit at 24% (UK standard rate) |
|
|
|||
Goodwill/depreciation not allowed for tax |
|
|
|||
Expenses not deductible for tax purposes |
|
|
|||
Capital allowances |
( |
( |
|||
Short term timing differences |
|
|
|||
Total tax charge for the period | 123,670 | 167,192 | |||
Land & Property | |||||
---|---|---|---|---|---|
Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
£ | £ | £ | £ | £ | |
Cost | |||||
As at 1 February 2023 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
|
|
|
( |
( |
As at 31 January 2024 |
|
|
|
|
|
Depreciation | |||||
As at 1 February 2023 |
|
|
|
|
|
Provided during the period |
|
|
|
|
|
Disposals |
|
|
|
( |
( |
As at 31 January 2024 |
|
|
|
|
|
Net Book Value | |||||
As at 31 January 2024 |
|
|
|
|
|
As at 1 February 2023 |
|
|
|
|
|
Land & Property | |||||
---|---|---|---|---|---|
Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
£ | £ | £ | £ | £ | |
At cost | 352,534 | 61,673 | 163,315 | 199,409 | 776,931 |
352,534 | 61,673 | 163,315 | 199,409 | 776,931 | |
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Materials |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Trade creditors |
|
|
|
Corporation tax |
|
|
|
Other taxes and social security |
|
|
|
VAT |
|
|
|
Other creditors |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Revaluation of property, plant and equipment |
|
- | |
Other timing differences | 39,574 | 52,812 | |
|
|
||
Deferred Tax | Total | |
---|---|---|
£ | £ | |
As at 1 February 2023 |
|
52,812 |
Additions |
|
30,771 |
Balance at 31 January 2024 |
|
83,583 |
Revaluation Reserve | |
---|---|
£ | |
As at 1 February 2023 |
|
Transfer to profit and loss |
( |
As at 31 January 2024 |
|