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For the period ended |
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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Director's report |
4 |
Independent auditor's report to the members |
6 |
Consolidated statement of comprehensive income |
11 |
Consolidated statement of financial position |
12 |
Company statement of financial position |
13 |
Consolidated statement of changes in equity |
14 |
Company statement of changes in equity |
15 |
Consolidated statement of cash flows |
16 |
Notes to the financial statements |
17 |
|
Officers and Professional Advisers |
Director |
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Registered office |
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United Kingdom |
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Auditor |
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Chartered accountants & statutory auditor |
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Tower House |
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Lucy Tower Street |
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Lincoln |
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LN1 1XW |
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Strategic Report |
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Director |
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Registered office: |
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United Kingdom |
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Director's Report |
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Director |
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Registered office: |
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United Kingdom |
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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 |
Tower House |
Lucy Tower Street |
Lincoln |
LN1 1XW |
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Consolidated Statement of Comprehensive Income |
Period from |
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1 Apr 23 to |
Year to |
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31 Dec 23 |
31 Mar 23 |
||
Note |
£ |
£ |
|
Turnover |
4 |
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Cost of sales |
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--------------- |
--------------- |
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Gross profit |
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Distribution costs |
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Administrative expenses |
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Other operating income |
5 |
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-------------- |
-------------- |
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Operating 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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Profit/(loss) before taxation |
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(
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Tax on profit/(loss) |
12 |
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----------- |
----------- |
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Profit/(loss) for the financial period and total comprehensive income |
|
(
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----------- |
----------- |
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The owners of the parent company |
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Non-controlling interests |
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(
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----------- |
----------- |
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(
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----------- |
----------- |
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Consolidated Statement of Financial Position |
31 Dec 23 |
31 Mar 23 |
|
Note |
£ |
£ |
Negative goodwill |
13 |
(
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(
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Tangible assets |
14 |
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-------------- |
-------------- |
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(
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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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--------------- |
--------------- |
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Net current assets |
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-------------- |
-------------- |
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Total assets less current liabilities |
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Provisions |
20 |
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– |
-------------- |
----------- |
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Net assets |
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-------------- |
----------- |
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Called up share capital |
23 |
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Profit and loss account |
24 |
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----------- |
--------- |
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Equity attributable to the owners of the parent company |
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Non-controlling interests |
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-------------- |
----------- |
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-------------- |
----------- |
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Director |
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Company Statement of Financial Position |
31 Dec 23 |
31 Mar 23 |
|
Note |
£ |
£ |
Investments |
15 |
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Debtors |
17 |
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Creditors: amounts falling due within one year |
18 |
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-------------- |
-------------- |
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Net current liabilities |
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----- |
----- |
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Total assets less current liabilities |
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----- |
----- |
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Called up share capital |
23 |
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----- |
----- |
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Shareholders funds |
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----- |
----- |
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Director |
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Consolidated Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Equity attributable to the owners of the parent company |
Non-controlling interests |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
At 1 April 2022 |
|
– |
|
– |
|
Profit for the period |
|
|
(
|
(
|
|
----- |
--------- |
--------- |
----------- |
----------- |
|
Total comprehensive income for the period |
– |
|
|
(
|
(
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Acquisition of subsidiary with minority interest |
– |
– |
– |
|
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----- |
--------- |
--------- |
----------- |
----------- |
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Total investments by and distributions to owners |
– |
– |
– |
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At 31 March 2023 |
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Profit for the period |
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----- |
----------- |
----------- |
----------- |
----------- |
|
Total comprehensive income for the period |
– |
|
|
|
|
----- |
----------- |
----------- |
----------- |
-------------- |
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At 31 December 2023 |
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----- |
----------- |
----------- |
----------- |
-------------- |
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Company Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
|
£ |
£ |
£ |
|
At 1 April 2022 |
|
– |
|
Profit for the period |
– |
– |
|
At 31 March 2023 |
|
– |
|
Profit for the period |
– |
– |
|
----- |
----- |
----- |
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At 31 December 2023 |
|
– |
|
----- |
----- |
----- |
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Consolidated Statement of Cash Flows |
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
Profit/(loss) for the financial period |
|
(
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Amortisation of intangible assets |
(
|
(
|
Other interest receivable and similar income |
(
|
(
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Interest payable and similar expenses |
|
|
Tax on profit |
|
|
Accrued (income)/expenses |
(
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Changes in: |
||
Stocks |
|
(
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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 |
(
|
(
|
Interest received |
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Tax paid |
– |
(
|
-------------- |
----------- |
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Net cash from/(used in) operating activities |
|
(
|
-------------- |
----------- |
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Purchase of tangible assets |
(
|
(
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Acquisition of subsidiaries |
– |
(
|
-------------- |
-------------- |
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Net cash used in investing activities |
(
|
(
|
-------------- |
-------------- |
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Proceeds from borrowings |
(
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Payments of finance lease liabilities |
|
– |
Other financing cash flow adjustment |
– |
|
-------------- |
-------------- |
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Net cash (used in)/from financing activities |
(
|
|
-------------- |
-------------- |
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Net increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of period |
541,516 |
1 |
-------------- |
----------- |
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Cash and cash equivalents at end of period |
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-------------- |
----------- |
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Notes to the Financial Statements |
Goodwill |
- |
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Freehold property |
- |
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Plant and machinery |
- |
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Computer Software |
- |
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Period from |
||
1 Apr 23 to |
Year to |
|
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
Sale of goods |
|
|
--------------- |
--------------- |
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Period from |
||
1 Apr 23 to |
Year to |
|
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
Other operating income |
|
|
----- |
-------- |
|
Period from |
||
1 Apr 23 to |
Year to |
|
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
Amortisation of intangible assets |
(
|
(
|
Depreciation of tangible assets |
|
|
Impairment of trade debtors |
(29,429) |
(31,417) |
Operating lease rentals |
|
|
Foreign exchange differences |
|
|
----------- |
----------- |
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Period from |
||
1 Apr 23 to |
Year to |
|
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
--------- |
--------- |
|
Audit-related assurance services |
|
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Taxation compliance services |
|
|
--------- |
--------- |
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18,000 |
15,000 |
|
--------- |
--------- |
|
31 Dec 23 |
31 Mar 23 |
|
No. |
No. |
|
Administrative staff |
|
|
Number of sales staff |
|
|
Number of stores staff |
|
|
----- |
----- |
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|
|
----- |
----- |
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Period from |
||
1 Apr 23 to |
Year to |
|
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
-------------- |
-------------- |
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-------------- |
-------------- |
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Period from |
||
1 Apr 23 to |
Year to |
|
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
Remuneration |
|
|
Company contributions to defined contribution pension plans |
|
|
----------- |
----------- |
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|
|
|
----------- |
----------- |
|
31 Dec 23 |
31 Mar 23 |
|
No. |
No. |
|
Defined contribution plans |
|
|
----- |
----- |
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Period from |
||
1 Apr 23 to |
Year to |
|
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
Aggregate remuneration |
|
|
Company contributions to defined contribution pension plans |
|
|
----------- |
----------- |
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|
|
----------- |
----------- |
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Period from |
||
1 Apr 23 to |
Year to |
|
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
Interest on cash and cash equivalents |
|
|
-------- |
----- |
|
Period from |
||
1 Apr 23 to |
Year to |
|
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
Other interest payable and similar charges |
|
|
----------- |
----------- |
|
|
|
|
----------- |
----------- |
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Period from |
||
1 Apr 23 to |
Year to |
|
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
UK current tax income |
– |
(
|
Origination and reversal of timing differences |
|
|
-------- |
--------- |
|
Tax on profit |
|
|
-------- |
--------- |
|
Period from |
||
1 Apr 23 to |
Year to |
|
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
|
Profit/(loss) on ordinary activities before taxation |
|
(
|
----------- |
----------- |
|
Profit/(loss) on ordinary activities by rate of tax |
|
(
|
Adjustment to tax charge in respect of prior periods |
– |
(
|
Effect of expenses not deductible for tax purposes |
|
(
|
Effect of capital allowances and depreciation |
|
|
Utilisation of tax losses |
(
|
– |
----------- |
----------- |
|
Tax on profit |
|
|
----------- |
----------- |
|
Group |
Goodwill |
£ |
|
Cost |
|
At 1 April 2023 and 31 December 2023 |
(
|
-------------- |
|
Amortisation |
|
At 1 April 2023 |
(
|
Charge for the period |
(
|
-------------- |
|
At 31 December 2023 |
(
|
-------------- |
|
Carrying amount |
|
At 31 December 2023 |
(
|
-------------- |
|
At 31 March 2023 |
(
|
-------------- |
|
Group |
Freehold property |
Plant and machinery |
Computer equipment |
Total |
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 April 2023 |
|
|
|
|
Additions |
– |
|
|
|
Disposals |
– |
(
|
– |
(
|
-------------- |
-------------- |
----------- |
-------------- |
|
At 31 December 2023 |
|
|
|
|
-------------- |
-------------- |
----------- |
-------------- |
|
Depreciation |
||||
At 1 April 2023 |
|
|
|
|
Charge for the period |
|
|
|
|
Disposals |
– |
(
|
– |
(
|
-------------- |
-------------- |
----------- |
-------------- |
|
At 31 December 2023 |
|
|
|
|
-------------- |
-------------- |
----------- |
-------------- |
|
Carrying amount |
||||
At 31 December 2023 |
|
|
|
|
-------------- |
-------------- |
----------- |
-------------- |
|
At 31 March 2023 |
|
|
|
|
-------------- |
-------------- |
----------- |
-------------- |
|
Company |
Other investments other than loans |
£ |
|
Cost |
|
At 1 April 2023 and 31 December 2023 |
|
----- |
|
Impairment |
|
At 1 April 2023 and 31 December 2023 |
– |
----- |
|
Carrying amount |
|
At 1 April 2023 and 31 December 2023 |
|
----- |
|
At 31 March 2023 |
|
----- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary A |
76 |
|
Ordinary |
76 |
|
Ordinary |
76 |
|
Ordinary |
76 |
Redeemable Preference |
76 |
|
Group |
Company |
|||
31 Dec 23 |
31 Mar 23 |
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
£ |
£ |
|
Finished goods and goods for resale |
|
|
– |
– |
-------------- |
-------------- |
----- |
----- |
|
Group |
Company |
|||
31 Dec 23 |
31 Mar 23 |
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Amounts owed by group undertakings |
– |
– |
|
|
Prepayments and accrued income |
|
|
– |
– |
Corporation tax repayable |
|
|
– |
– |
-------------- |
-------------- |
-------------- |
-------------- |
|
|
|
|
|
|
-------------- |
-------------- |
-------------- |
-------------- |
|
Group |
Company |
|||
31 Dec 23 |
31 Mar 23 |
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
– |
– |
|
|
Accruals and deferred income |
|
|
– |
– |
Social security and other taxes |
|
|
– |
– |
Obligations under finance leases and hire purchase contracts |
|
– |
– |
– |
Other creditors |
|
|
|
|
--------------- |
--------------- |
-------------- |
-------------- |
|
|
|
|
|
|
--------------- |
--------------- |
-------------- |
-------------- |
|
Group |
Company |
|||
31 Dec 23 |
31 Mar 23 |
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
– |
– |
– |
--------- |
----- |
----- |
----- |
|
Group |
Deferred tax (note 21) |
£ |
|
At 1 April 2023 |
– |
Additions |
|
-------- |
|
At 31 December 2023 |
|
-------- |
|
Group |
Company |
|||
31 Dec 23 |
31 Mar 23 |
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 20) |
|
– |
– |
– |
-------- |
----- |
----- |
----- |
|
Group |
Company |
|||
31 Dec 23 |
31 Mar 23 |
31 Dec 23 |
31 Mar 23 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
– |
|
– |
Unused tax losses |
(
|
– |
(
|
– |
--------- |
----- |
--------- |
----- |
|
3,930 |
– |
3,930 |
– |
|
--------- |
----- |
--------- |
----- |
|
31 Dec 23 |
31 Mar 23 |
|||
No. |
£ |
No. |
£ |
|
|
|
1 |
|
1 |
----- |
----- |
----- |
----- |
|
At 1 Apr 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
865,564 |
|
Debt due within one year |
(5,579,731) |
1,247,977 |
(4,331,754) |
-------------- |
-------------- |
-------------- |
|
(
|
|
(
|
|
-------------- |
-------------- |
-------------- |
|
Group |
Company |
||||
31 Dec 23 |
31 Mar 23 |
31 Dec 23 |
31 Mar 23 |
||
£ |
£ |
£ |
£ |
||
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
-------------- |
----------- |
----- |
----- |
||
|
|
– |
– |
||
-------------- |
----------- |
----- |
----- |
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