Page | |
---|---|
Company Information | 1 |
Strategic Report | 2—3 |
Directors' Report | 4 |
Independent Auditor's Report | 5—7 |
Consolidated Profit and Loss Account | 8 |
Consolidated Statement of Comprehensive Income | 9 |
Consolidated Balance Sheet | 10—11 |
Company Balance Sheet | 12 |
Consolidated Statement of Changes in Equity | 13 |
Company Statement of Changes in Equity | 14 |
Consolidated Statement of Cash Flows | 15 |
Notes to the Consolidated Statement of Cash Flows | 16 |
Company Statement of Cash Flows | 17 |
Notes to the Company Statement of Cash Flows | 18 |
Notes to the Financial Statements | 19—27 |
The following pages do not form part of the statutory accounts: | |
Consolidated Trading Profit and Loss Account | 28—29 |
Company Trading Profit and Loss Account | 30 |
Directors |
|
|
|
Company Number |
|
Registered Office | Olympus House |
2 Howley Park Business Village, Morley | |
West Yorkshire, Leeds | |
LS27 0BZ | |
Accountants | Northern Accountants |
Howley Park Business Village | |
Olympus House, 2 Pullan Way | |
Morley | |
Leeds | |
LS27 0BZ | |
Auditors |
|
Conqueror Court | |
Sittingbourne | |
Kent | |
ME10 5BH | |
Director
|
Director
|
24/09/2024
|
|
|
Director
|
Director
|
|
for and on behalf of
|
|
Conqueror Court
Sittingbourne
Kent
ME10 5BH
|
31 March 2024 | 31 March 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER | 3 |
|
|
|
Cost of sales |
( |
( |
||
GROSS PROFIT |
|
|
||
Administrative expenses |
( |
( |
||
Other operating income |
|
|
||
OPERATING PROFIT | 5 |
|
|
|
(Loss)/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 |
( |
( |
||
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
|
|
||
Profit attributable to: | ||||
Owners of the parent | 1,964,786 | 802,950 | ||
Non-controlling interest | 37,445 | 9,328 | ||
|
|
|||
31 March 2024 | 31 March 2023 | |||
---|---|---|---|---|
£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
|
|
||
OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
|
|
||
Total comprehensive income attributable to: | ||||
Owners of the parent | 1,964,786 | 802,950 | ||
Non-controlling interest | 37,445 | 9,328 | ||
|
|
|||
31 March 2024 | 31 March 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Intangible Assets | 12 |
|
|
||
Tangible Assets | 13 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 15 |
|
|
||
Debtors | 16 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 17 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
( |
( |
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 18 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 21 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 23 |
|
|
||
Profit and Loss Account |
|
|
|||
Equity attributable to owners of the parent | 2,932,295 | 967,509 | |||
Non-controlling interest |
|
|
|||
TOTAL EQUITY | 7,103,297 | 5,162,066 | |||
Director
|
Director
|
|
31 March 2024 | 31 March 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Investments | 14 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Debtors | 16 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 17 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
( |
( |
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 18 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 23 |
|
|
||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 2,927,584 | 1,633,573 | |||
Director
|
21/08/2024
|
Share Capital | Profit and Loss Account | Total Attributable to Parent | Non-controlling interest | Total | |
---|---|---|---|---|---|
£ | £ | £ | £ | £ | |
As at 1 February 2023 |
|
|
|
|
4,431,788 |
Profit for the period and total comprehensive income | - |
|
|
|
812,278 |
Dividends paid | - | - | - |
( |
(82,000) |
As at 31 March 2023 and 1 April 2023 |
|
|
|
|
5,162,066 |
Profit for the year and total comprehensive income | - |
|
|
|
2,002,231 |
Dividends paid | - | - | - |
( |
(61,000) |
As at 31 March 2024 |
|
|
|
|
7,103,297 |
Share Capital | Profit and Loss Account | Total | |
---|---|---|---|
£ | £ | £ | |
As at 1 February 2023 |
|
|
1,071,589 |
Profit for the period and total comprehensive income | - |
|
561,984 |
As at 31 March 2023 and 1 April 2023 |
|
|
1,633,573 |
Profit for the year and total comprehensive income | - |
|
1,294,011 |
As at 31 March 2024 |
|
|
2,927,584 |
31 March 2024 | 31 March 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
|
|
|
Interest paid |
( |
( |
||
Tax (paid)/refunded |
( |
|
||
Net cash generated from operating activities |
|
|
||
Cash flows from investing activities | ||||
Purchase of intangible assets |
|
|
||
Purchase of tangible assets |
( |
( |
||
Proceeds from disposal of tangible assets |
|
|
||
Interest received |
|
|
||
Net cash used in investing activities |
( |
( |
||
Cash flows from financing activities | ||||
Equity dividends paid |
( |
( |
||
Proceeds from new bank borrowings |
|
|
||
Repayment of bank borrowings |
( |
( |
||
Repayment of finance leases |
( |
|
||
Amount introduced by directors | 71,826 | 789 | ||
Net cash used in financing 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 |
|
( |
|
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Tax on profit |
|
|
|
Interest expense |
|
|
|
Interest income |
( |
( |
|
Depreciation of tangible assets |
|
|
|
Loss/(profit) on disposal of tangible assets | 11,770 | (11,032) | |
Movements in working capital: | |||
Increase in stocks |
( |
( |
|
Decrease/(increase) in trade and other debtors |
|
( |
|
(Decrease)/increase in trade and other creditors |
( |
|
|
Net cash generated from operations |
|
|
|
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
Overdraft facilities repayable on demand |
( |
( |
|
Cash and cash equivalents as stated in the Statement of Cash Flows | 675,408 | (39,419) | |
As at 1 April 2023 | Cash flows | As at 31 March 2024 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
657,243 |
|
Overdraft facilities repayable on demand | (74,329) | 57,584 | (16,745) |
Cash and cash equivalents |
( |
714,827 |
|
Finance leases | (63,372) | (478,456) | (541,828) |
Debts falling due within one year |
( |
(507,573) |
( |
Debts falling due after more than one year | (1,670,304) | 1,396,497 | (273,807) |
(1,826,078) | 1,125,295 | (700,783) | |
31 March 2024 | 31 March 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash used in operations | 1 |
( |
( |
|
Interest paid |
( |
( |
||
Net cash used in operating activities |
( |
( |
||
Cash flows from investing activities | ||||
Purchase of other fixed asset investments |
|
( |
||
Dividends received |
|
|
||
Net cash generated from investing activities |
|
|
||
Cash flows from financing activities | ||||
Repayment of bank borrowings |
( |
( |
||
(Decrease)/increase in cash and cash equivalents |
( |
|
||
Cash and cash equivalents at beginning of year | 2 |
|
|
|
Cash and cash equivalents at end of year | 2 |
|
|
|
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Interest expense |
|
|
|
Income from shares in group undertakings | (1,250,000) | (82,000) | |
Movements in working capital: | |||
Increase in trade and other debtors |
( |
( |
|
Decrease in trade and other creditors |
( |
( |
|
Net cash used in operations |
( |
( |
|
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 April 2023 | Cash flows | As at 31 March 2024 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
(5,851) |
|
Debts falling due within one year |
( |
- |
( |
Debts falling due after more than one year | (30,833) | 10,000 | (20,833) |
(34,693) | 4,149 | (30,544) | |
Leasehold |
|
Plant & Machinery |
|
Motor Vehicles |
|
Fixtures & Fittings |
|
Computer Equipment |
|
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Other operating income |
|
|
|
2,935 | - | ||
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Bad debts | 70,212 | 5,946 | |
Depreciation of tangible fixed assets |
|
|
|
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the group and company's financial statements |
|
|
|
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
|
|
||
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
|
|
||
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Bank interest receivable |
|
|
|
Other interest receivable type A | 15 | - | |
880 | 450 | ||
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Bank loans and overdrafts |
|
|
|
Interest payable on other loans | - |
|
|
Factoring charges | - | 9,719 | |
Finance charges payable under finance leases and hire purchase contracts | 10,283 | 3,475 | |
Late payment tax charges |
|
|
|
Other finance charges |
|
|
|
104,275 | 42,801 | ||
Goodwill | |||
---|---|---|---|
£ | |||
Cost | |||
As at 1 April 2023 |
|
||
As at 31 March 2024 |
|
||
Amortisation | |||
As at 1 April 2023 |
|
||
As at 31 March 2024 |
|
||
Net Book Value | |||
As at 31 March 2024 |
|
||
As at 1 April 2023 |
|
||
Land & Property | ||||
---|---|---|---|---|
Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
£ | £ | £ | £ | |
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 |
|
|
|
|
Computer Equipment | 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 |
|
|
Unlisted | |
---|---|
£ | |
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 |
|
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Stock |
|
|
|
Work in progress |
|
|
|
|
|
||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
31 March 2024 | 31 March 2023 | 31 March 2024 | 31 March 2023 | ||||
£ | £ | £ | £ | ||||
Due within one year | |||||||
Trade debtors |
|
|
|
|
|||
Amounts owed by group undertakings | 229,023 | 2,866,425 | - | - | |||
Other debtors | 513,509 | 1,095,147 | - | 200 | |||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
31 March 2024 | 31 March 2023 | 31 March 2024 | 31 March 2023 | ||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
Trade creditors |
|
|
|
|
|||
Bank loans and overdrafts |
|
|
|
|
|||
Amounts owed to group undertakings |
|
|
|
|
|||
Other creditors | 1,787,637 | 1,146,705 | 790,000 | 730,000 | |||
Corporation tax |
|
|
|
|
|||
Taxation and social security | 105,027 | 113,534 | 2,306 | - | |||
Accruals and deferred income |
|
|
|
|
|||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
31 March 2024 | 31 March 2023 | 31 March 2024 | 31 March 2023 | ||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
Bank loans |
|
|
|
|
|||
Other creditors | - | 555,000 | - | 555,000 | |||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
31 March 2024 | 31 March 2023 | 31 March 2024 | 31 March 2023 | ||||
£ | £ | £ | £ | ||||
Amounts falling due within one year or on demand: | |||||||
Bank loans |
|
|
|
|
|||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
31 March 2024 | 31 March 2023 | 31 March 2024 | 31 March 2023 | ||||
£ | £ | £ | £ | ||||
Amounts falling due between one and five years: | |||||||
Bank loans |
|
|
|
|
|||
Group | ||||
---|---|---|---|---|
31 March 2024 | 31 March 2023 | |||
£ | £ | |||
The future minimum finance lease payments are as follows: | ||||
Not later than one year |
|
|
||
Later than one year and not later than five years |
|
|
||
|
|
|||
|
|
|||
31 March 2024 | 31 March 2023 | ||
---|---|---|---|
£ | £ | ||
Other timing differences | 347,550 | 164,520 | |
Group | ||
---|---|---|
Deferred Tax | Total | |
£ | £ | |
As at 1 April 2023 |
|
164,520 |
Additions |
|
183,030 |
Balance at 31 March 2024 |
|
347,550 |
31 March 2024 | 31 March 2023 | |||
---|---|---|---|---|
£ | £ | £ | £ | |
TURNOVER | ||||
Sales | 16,562,977 | 6,850,312 | ||
COST OF SALES | ||||
Purchases |
|
|
||
Materials |
( |
|
||
Subcontractor costs |
|
|
||
Wages and salaries |
|
|
||
Employers NI |
|
|
||
Employers pensions - defined contribution schemes |
|
|
||
Hire and leasing of plant, equipment and vehicles |
|
|
||
Consultancy fees |
|
|
||
Other direct costs |
|
|
||
( |
( |
|||
GROSS PROFIT | 6,966,802 | 2,384,398 | ||
Administrative Expenses | ||||
Directors' salaries |
|
|
||
Directors' pension - defined contribution schemes |
|
|
||
Wages and salaries |
|
|
||
Employers NI |
|
|
||
Employers pensions - defined contributions scheme |
|
|
||
Staff training |
|
|
||
Health and safety costs |
|
|
||
Protective clothing |
|
|
||
Staff expenses |
|
|
||
Travel and subsistence expenses |
|
|
||
Rent |
|
|
||
Rates | 20,593 | 466 | ||
Property management and service charges |
|
|
||
Light and heat |
|
|
||
Repairs and maintenance |
|
|
||
Cleaning |
|
|
||
Other premises costs |
|
|
||
Use of private residence |
( |
|
||
Vehicle running costs |
|
|
||
Computer software, consumables and maintenance |
|
|
||
Computer and IT consumables |
|
|
||
Repairs, renewals and maintenance |
|
|
||
Insurance |
|
|
||
Printing, postage and stationery |
|
|
||
Advertising and marketing costs |
( |
|
||
Telecommunications and data costs |
|
|
||
Telecommunications |
|
|
||
Website costs |
|
|
||
Accountancy fees |
|
|
||
Legal fees |
|
|
||
Professional fees |
|
|
Consultancy fees |
|
|
||
Management fees |
|
|
||
Subscriptions |
|
|
||
Bookkeeping fees |
|
|
||
Payroll fees |
|
|
||
Charitable donations |
|
|
||
Bad debts written off |
|
|
||
Other office costs |
|
|
||
Depreciation |
|
|
||
Depreciation of fixtures and fittings |
|
|
||
Depreciation of computer equipment |
|
|
||
Entertaining |
|
|
||
Sundry expenses |
|
|
||
( |
( |
|||
Other Operating Income | ||||
Other income - contributing to other operating income |
|
|
||
2,935 | - | |||
OPERATING PROFIT | 2,556,841 | 867,398 | ||
(Loss)/profit on disposal of tangible fixed assets | (11,770) | 11,032 | ||
(11,770) | 11,032 | |||
Other interest receivable and similar income | ||||
Bank interest receivable |
|
|
||
Other interest receivable type A |
|
|
||
880 | 450 | |||
Interest payable and similar charges | ||||
Bank interest payable |
|
|
||
Bank charges |
|
|
||
Bank loan interest |
|
|
||
Interest payable on other loans |
|
|
||
Factoring charges |
|
|
||
Other interest payable |
|
|
||
Hire purchase charges |
|
|
||
Late payment tax charges |
|
|
||
(104,275) | (42,801) | |||
PROFIT BEFORE TAXATION | 2,441,676 | 836,079 | ||
Tax on Profit | ||||
Corporation tax charge | 421,017 | 108,418 | ||
Deferred taxation | 183,030 | - | ||
Prior year adjustment | (164,602) | (84,617) | ||
(439,445) | (23,801) | |||
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
|
|
||
31 March 2024 | 31 March 2023 | |||
---|---|---|---|---|
£ | £ | £ | £ | |
TURNOVER | ||||
Sales | 80,000 | 3,600 | ||
GROSS PROFIT | 80,000 | 3,600 | ||
Administrative Expenses | ||||
Travel and subsistence expenses |
|
|
||
Vehicle running costs |
|
|
||
Accountancy fees |
|
|
||
Legal fees |
|
|
||
Entertaining |
|
|
||
Sundry expenses |
|
|
||
( |
( |
|||
OPERATING PROFIT | 58,288 | 2,406 | ||
Other exceptional operating costs | - | (480,000) | ||
Dividends from shares in subsidiaries |
|
|
||
1,250,000 | 562,000 | |||
Interest payable and similar charges | ||||
Bank interest payable |
|
|
||
Bank charges |
|
|
||
Interest payable on other loans |
|
|
||
(14,277) | (2,422) | |||
PROFIT FOR THE FINANCIAL YEAR |
|
|
||