Director |
|
Secretary |
|
Company Number |
|
Registered Office | Concept House |
Eastern Wood Road | |
Langage Industrial Estate | |
Plymouth | |
PL7 5ET | |
Auditors |
|
T/A Condy Mathias Chartered Accountants | |
6 Houndisombe Road | |
Plymouth | |
Devon | |
PL4 6HH | |
Unit
|
2024
|
2023
|
||
Turnover
|
£
|
23,716,910
|
24,102,040
|
|
Gross profit
|
£
|
4,369,738
|
4,447,389
|
|
Gross profit margin
|
%
|
18
|
19
|
|
Net profit margin
|
%
|
9
|
8
|
Director
|
18 November 2024
|
|
Director
|
|
for and on behalf of
|
|
T/A Condy Mathias Chartered Accountants
6 Houndisombe Road
Plymouth
Devon
PL4 6HH
|
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER | 4 |
|
|
|
Cost of sales |
( |
( |
||
GROSS PROFIT |
|
|
||
Distribution costs |
( |
( |
||
Administrative expenses |
( |
( |
||
Other operating income |
|
|
||
OPERATING PROFIT | 6 |
|
|
|
Profit/(loss) on disposal of fixed assets |
|
( |
||
Other interest receivable and similar income | 11 |
|
|
|
Interest payable and similar charges | 12 |
|
( |
|
PROFIT BEFORE TAXATION |
|
|
||
Tax on Profit | 13 |
( |
( |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
|
|
||
OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
|
|
||
RETAINED EARNINGS | ||||
As at 1 April 2023 |
|
|
||
Dividends paid | (600,000) | (590,000) | ||
As at 31 March 2024 |
|
|
||
2024 | 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 14 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 16 |
|
|
||
Debtors | 17 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 18 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 19 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Provisions For Charges | 20 |
( |
( |
||
Deferred Taxation |
( |
( |
|||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 21 |
|
|
||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 5,212,225 | 4,239,316 | |||
Director
|
|
Plant & machinery
|
15% reducing balance
|
Motor vehicles
|
25% straight line
|
Fixtures & fittings
|
15% straight line
|
Office equipment
|
15% straight line
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Sale of goods | 23,716,910 | 24,102,040 | |
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
United Kingdom |
|
|
|
Europe |
|
|
|
Rest of the world |
|
|
|
23,716,910 | 24,102,040 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Grant income |
|
|
|
Rental income |
|
|
|
Other operating income |
|
|
|
68,486 | 46,326 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bad debts | (25,343) | (3,523) | |
Research and Development Costs |
|
|
|
Operating lease rentals |
|
|
|
Depreciation of tangible fixed assets |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
|
|
|
Other Services | |||
Taxation compliance service |
|
|
|
Other non-audit services |
|
|
|
6,363 | 7,625 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
Office and administration |
|
|
|
Production |
|
|
|
Distribution |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes | - |
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
Money purchase pension schemes |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank interest receivable |
|
|
|
Other interest receivable | 3,142 | - | |
15,551 | 555 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Foreign exchange charges | - |
|
|
The tax charge on the profit for the year was as follows:
|
|||||
Tax Rate | 2024 | 2023 | |||
---|---|---|---|---|---|
2024 | 2023 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 25.0% | 19.0% |
|
|
|
Prior period adjustment |
( |
|
|||
|
|
||||
Deferred Tax | |||||
Deferred taxation |
|
|
|||
Origination and reversal of timing differences |
( |
|
|||
(9,569) | 10,459 | ||||
Total tax charge for the period |
|
|
|||
The 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 | 2,036,063 | 2,000,070 | |||
Tax on profit at 25% (UK standard rate) |
|
|
|||
Goodwill/depreciation not allowed for tax |
|
|
|||
Expenses not deductible for tax purposes |
|
|
|||
Capital allowances |
( |
( |
|||
Short term timing differences |
( |
|
|||
Prior period adjustment |
( |
|
|||
Group relief |
( |
|
|||
Total tax charge for the period | 463,154 | 383,030 | |||
The applicable charge has changed from the comparative year. This change is from the Spring Budget 2023 where the UK government put in place thresholds based on profits with 25% being the applicable rate for the thresholds met by this company.
|
Plant & Machinery etc. | Motor Vehicles | Total | |
---|---|---|---|
£ | £ | £ | |
Cost | |||
As at 1 April 2023 |
|
|
|
Additions |
|
|
|
Disposals |
( |
|
( |
As at 31 March 2024 |
|
|
|
Depreciation | |||
As at 1 April 2023 |
|
|
|
Provided during the period |
|
|
|
Disposals |
( |
|
( |
As at 31 March 2024 |
|
|
|
Net Book Value | |||
As at 31 March 2024 |
|
|
|
As at 1 April 2023 |
|
|
|
Subsidiaries | |
---|---|
£ | |
Cost | |
As at 1 April 2023 |
|
As at 31 March 2024 |
|
Provision | |
As at 1 April 2023 |
|
As at 31 March 2024 |
|
Net Book Value | |
As at 31 March 2024 |
|
As at 1 April 2023 |
|
Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
---|---|---|---|---|
|
6 Houndiscombe Road, Plymouth, PL4 6HH |
|
|
- |
|
6 Houndiscombe Road, Plymouth, PL4 6HH |
|
|
- |
Capital and Reserves | Profit/(loss) | |
---|---|---|
£ | £ | |
Net-IT Solutions Limited |
|
|
Applied Automation Limited |
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Stock |
|
|
|
Work in progress |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Trade debtors |
|
|
|
Amounts owed by group undertakings | 24,415 | 19,202 | |
Other debtors | 1,069,005 | 824,148 | |
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Trade creditors |
|
|
|
Bank loans and overdrafts |
|
|
|
Payments on account |
|
|
|
Amounts owed to group undertakings |
|
|
|
Amounts owed to participating interests |
|
|
|
Other creditors | 308,427 | 2,179,028 | |
Corporation tax |
|
|
|
Taxation and social security | 305,360 | 586,972 | |
Accruals and deferred income |
|
|
|
|
|
||
2024
|
2023
|
||
Current loans and borrowings
|
£
|
£
|
|
Bank overdrafts
|
145,271
|
271,493
|
|
Other borrowings
|
-
|
1,838,763
|
|
145,271
|
2,110,256
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Accruals and deferred income |
|
|
|
Deferred Tax | Other Provisions | Total | |
---|---|---|---|
£ | £ | £ | |
As at 1 April 2023 |
|
|
136,992 |
Additions |
|
|
303,245 |
Origination and reversal of timing differences |
( |
- |
( |
Balance at 31 March 2024 |
|
|
430,668 |
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years | - |
|
|
|
|
||
As at 1 April 2023 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 March 2024 | |
---|---|---|---|---|---|
£ | £ | £ | £ | £ | |
Mr David Rowe |
|
|
|
- |
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Interim dividend paid |
|
|
|