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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
7 |
Independent auditor's report to the members |
10 |
Consolidated statement of comprehensive income |
14 |
Consolidated statement of financial position |
15 |
Company statement of financial position |
17 |
Consolidated statement of changes in equity |
19 |
Company statement of changes in equity |
20 |
Consolidated statement of cash flows |
21 |
Notes to the financial statements |
22 |
|
Officers and Professional Advisers |
The board of directors |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
|
Ground Floor, Seneca House |
|
Links Point |
|
Amy Johnson Way |
|
Blackpool |
|
Lancashire |
|
FY4 2FF |
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Bankers |
|
298 Deansgate |
|
Manchester |
|
M3 4HH |
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Strategic Report |
J I Tuffs
|
Director |
Registered office: |
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Directors' Report |
Mr P Crooks
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Mr R M Booth
|
(Resigned
|
J I Tuffs
|
Director |
Registered office: |
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Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered accountants & statutory auditor |
Ground Floor, Seneca House |
Links Point |
Amy Johnson Way |
Blackpool |
Lancashire |
FY4 2FF |
|
Consolidated Statement of Comprehensive Income |
Period from |
|||
1 Oct 22 to |
Year to |
||
30 Nov 23 |
30 Sep 22 |
||
(restated) |
|||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
|
|
------------- |
------------ |
|
Gross profit |
|
|
Administrative expenses |
|
|
|
Other operating income |
5 |
|
– |
------------ |
------------ |
||
Operating profit |
6 |
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Other interest receivable and similar income |
10 |
|
|
Interest payable and similar expenses |
11 |
|
|
------------ |
------------ |
||
Profit before taxation |
|
|
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Tax on profit |
12 |
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|
--------- |
--------- |
||
Profit for the financial period and total comprehensive income |
|
|
|
--------- |
--------- |
||
|
Consolidated Statement of Financial Position |
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
Note |
£ |
£ |
Intangible assets |
14 |
|
|
Tangible assets |
15 |
|
|
------------ |
------------ |
||
|
|
||
Debtors |
17 |
|
|
Cash at bank and in hand |
|
|
|
------------ |
------------ |
||
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Creditors: amounts falling due within one year |
|||
Bank loans and overdrafts |
|
|
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Trade creditors |
|
|
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Other creditors including taxation and social security |
18 |
|
|
Accruals and deferred income |
|
|
|
------------ |
------------ |
||
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||
------------ |
------------ |
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Net current (liabilities)/assets |
(
|
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
|||
Bank loans and overdrafts |
– |
|
|
Other creditors including taxation and social security |
19 |
– |
|
---- |
------------ |
||
– |
|
||
Provisions |
21 |
|
|
------------ |
------------ |
||
Net assets |
|
|
|
------------ |
------------ |
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Called up share capital |
24 |
|
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Capital redemption reserve |
25 |
|
– |
Other reserves, including the fair value reserve |
25 |
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Profit and loss account |
25 |
(
|
(
|
------------ |
------------ |
||
Shareholders funds |
|
|
|
------------ |
------------ |
||
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Consolidated Statement of Financial Position (continued) |
J I Tuffs
|
Director |
|
Company Statement of Financial Position |
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
Note |
£ |
£ |
Intangible assets |
14 |
|
|
Tangible assets |
15 |
|
|
Investments |
16 |
|
|
------------ |
------------ |
||
|
|
||
Debtors |
17 |
|
|
Cash at bank and in hand |
|
|
|
------------ |
------------ |
||
|
|
||
Creditors: amounts falling due within one year |
|||
Bank loans and overdrafts |
|
|
|
Trade creditors |
(
|
(
|
|
Amounts owed to group undertakings |
|
|
|
Other creditors including taxation and social security |
18 |
|
|
Accruals and deferred income |
|
|
|
------------ |
------------ |
||
|
|
||
------------ |
------------ |
||
Net current liabilities |
|
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
(
|
|
Creditors: amounts falling due after more than one year |
||
Bank loans and overdrafts |
– |
|
--------- |
------------ |
|
Net assets/(liabilities) |
|
(
|
--------- |
------------ |
|
Called up share capital |
24 |
|
|
Capital redemption reserve |
25 |
|
– |
Profit and loss account |
25 |
|
(
|
--------- |
------------ |
||
Shareholders funds/(deficit) |
|
(
|
|
--------- |
------------ |
||
|
Company Statement of Financial Position (continued) |
J I Tuffs
|
Director |
|
Consolidated Statement of Changes in Equity |
Called up share capital |
Capital redemption reserve |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
||
£ |
£ |
£ |
£ |
£ |
||
At 1 October 2021 (as previously reported) |
|
– |
|
(
|
|
|
Prior period adjustments |
– |
– |
– |
(67,134) |
(67,134) |
|
-------- |
---- |
------------ |
--------- |
------------ |
||
At 1 October 2021 (restated) |
|
– |
|
(
|
|
|
-------- |
---- |
------------ |
--------- |
------------ |
||
Profit for the period |
|
|
||||
-------- |
---- |
------------ |
--------- |
------------ |
||
Total comprehensive income for the period |
– |
– |
– |
|
|
|
Dividends paid and payable |
13 |
– |
– |
– |
(
|
(
|
-------- |
---- |
------------ |
--------- |
------------ |
||
Total investments by and distributions to owners |
– |
– |
– |
(
|
(
|
|
At 30 September 2022 |
|
– |
|
(
|
|
|
Profit for the period |
|
|
||||
-------- |
---- |
------------ |
--------- |
------------ |
||
Total comprehensive income for the period |
– |
– |
– |
|
|
|
Dividends paid and payable |
13 |
– |
– |
– |
(
|
(
|
Cancellation of subscribed capital |
(
|
|
– |
(
|
(
|
|
---- |
---- |
---- |
--------- |
--------- |
||
Total investments by and distributions to owners |
(
|
|
– |
(
|
(
|
|
-------- |
---- |
------------ |
--------- |
------------ |
||
At 30 November 2023 |
|
|
|
(
|
|
|
-------- |
---- |
------------ |
--------- |
------------ |
||
|
Company Statement of Changes in Equity |
Called up share capital |
Capital redemption reserve |
Profit and loss account |
Total |
||
£ |
£ |
£ |
£ |
||
At 1 October 2021 |
|
– |
(
|
(
|
|
Loss for the period |
(
|
(
|
|||
-------- |
---- |
------------ |
------------ |
||
Total comprehensive income for the period |
– |
– |
(
|
(
|
|
Dividends paid and payable |
13 |
– |
– |
(
|
(
|
-------- |
---- |
------------ |
------------ |
||
Total investments by and distributions to owners |
– |
– |
(
|
(
|
|
At 30 September 2022 (as previously reported) |
|
– |
(
|
(
|
|
Prior period adjustments |
– |
– |
(1,218,045) |
(1,218,045) |
|
-------- |
---- |
------------ |
------------ |
||
At 30 September 2022 (restated) |
|
– |
(4,849,965) |
(4,838,745) |
|
-------- |
---- |
------------ |
------------ |
||
Profit for the period |
|
|
|||
-------- |
---- |
------------ |
------------ |
||
Total comprehensive income for the period |
– |
– |
|
|
|
Dividends paid and payable |
13 |
– |
– |
(
|
(
|
Cancellation of subscribed capital |
(
|
|
(
|
(
|
|
---- |
---- |
--------- |
--------- |
||
Total investments by and distributions to owners |
(
|
|
(
|
(
|
|
-------- |
---- |
--------- |
--------- |
||
At 30 November 2023 |
|
|
|
|
|
-------- |
---- |
--------- |
--------- |
||
|
Consolidated Statement of Cash Flows |
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
Profit for the financial period |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
34,122 |
49,890 |
Amortisation of intangible assets |
|
|
Other interest receivable and similar income |
(472) |
(11,972) |
Interest payable and similar expenses |
|
|
Loss on disposal of tangible assets |
– |
|
Tax on profit/(loss) |
|
|
Accrued expenses |
|
|
Changes in: |
||
Stocks |
– |
|
Trade and other debtors |
|
|
Trade and other creditors |
(
|
(
|
------------ |
------------ |
|
Cash generated from operations |
|
|
Interest paid |
(
|
(
|
Interest received |
|
|
Tax paid |
(
|
(
|
------------ |
------------ |
|
Net cash from operating activities |
|
|
------------ |
------------ |
|
Purchase of tangible assets |
(
|
(
|
Purchase of intangible assets |
(
|
|
------------ |
------------ |
|
Net cash (used in)/from investing activities |
(
|
|
------------ |
------------ |
|
Purchase of own shares |
(
|
– |
Repayments of borrowings |
(
|
(
|
Payments of finance lease liabilities |
(
|
(
|
Dividends paid |
(
|
(
|
------------ |
------------ |
|
Net cash used in financing activities |
(
|
(
|
------------ |
------------ |
|
Net (decrease)/increase in cash and cash equivalents |
(
|
|
Cash and cash equivalents at beginning of period |
742,202 |
321,674 |
--------- |
--------- |
|
Cash and cash equivalents at end of period |
|
|
--------- |
--------- |
|
|
Notes to the Financial Statements |
Goodwill |
- |
|
|
Development costs |
- |
|
|
Other intangibles |
- |
|
|
Freehold property |
- |
|
|
Long leasehold property |
- |
over the term of the lease
|
|
Plant and machinery |
- |
|
|
Fixtures, fittings and equipment |
- |
|
|
Motor vehicles |
- |
|
|
Computer equipment |
- |
20
%
|
|
Period from |
||
1 Oct 22 to |
Year to |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
Rendering of services |
|
|
------------- |
------------ |
|
Period from |
||
1 Oct 22 to |
Year to |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
Other operating income |
|
– |
-------- |
---- |
|
Period from |
||
1 Oct 22 to |
Year to |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
Amortisation of intangible assets |
|
|
Depreciation of tangible assets |
|
|
Loss on disposal of tangible assets |
– |
|
Impairment of trade debtors |
29,152 |
26,761 |
Foreign exchange differences |
|
(
|
------------ |
--------- |
|
Period from |
||
1 Oct 22 to |
Year to |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
30 Nov 23 |
30 Sep 22 |
|
No. |
No. |
|
Production staff |
|
– |
Administrative staff |
|
|
Management staff |
1 |
2 |
---- |
---- |
|
|
|
|
---- |
---- |
|
Period from |
||
1 Oct 22 to |
Year to |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
Period from |
||
1 Oct 22 to |
Year to |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
Remuneration |
|
|
Company contributions to defined contribution pension plans |
|
|
-------- |
-------- |
|
|
|
|
-------- |
-------- |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
No. |
No. |
|
Defined contribution plans |
|
|
---- |
---- |
|
Period from |
||
1 Oct 22 to |
Year to |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
Interest on cash and cash equivalents |
|
– |
Other interest receivable and similar income |
|
|
---- |
-------- |
|
|
|
|
---- |
-------- |
|
Period from |
||
1 Oct 22 to |
Year to |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Interest payable |
– |
|
Other interest payable and similar charges |
(
|
(
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
Period from |
||
1 Oct 22 to |
Year to |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
UK current tax expense |
|
|
Adjustments in respect of prior periods |
(
|
(
|
--------- |
--------- |
|
Total current tax |
|
|
--------- |
--------- |
|
Origination and reversal of timing differences |
(
|
|
--------- |
--------- |
|
Tax on profit/(loss) |
|
|
--------- |
--------- |
|
Period from |
||
1 Oct 22 to |
Year to |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
--------- |
--------- |
|
Profit on ordinary activities by rate of tax |
|
|
Adjustment to tax charge in respect of prior periods |
(
|
(44,224) |
Effect of expenses not deductible for tax purposes |
|
|
Effect of capital allowances and depreciation |
(
|
|
Effect of revenue exempt from tax |
– |
(
|
Utilisation of tax losses |
– |
(
|
Unused tax losses |
|
(
|
Tax over/under provision |
– |
3,687 |
Deferred Tax movement |
– |
10,187 |
--------- |
--------- |
|
Tax on profit/(loss) |
|
|
--------- |
--------- |
|
30 Nov 23 |
30 Sep 22 |
|
(restated) |
||
£ |
£ |
|
Dividends paid during the period (excluding those for which a liability existed at the end of the prior period ) |
|
|
Dividends proposed after the period end and not recognised as a liability |
– |
|
--------- |
--------- |
|
Group |
Goodwill |
Development costs |
Intellectual property |
Total |
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 October 2022 (as restated) |
|
|
|
|
Additions from internal developments |
– |
– |
|
|
------------ |
--------- |
--------- |
------------- |
|
At 30 November 2023 |
|
|
|
|
------------ |
--------- |
--------- |
------------- |
|
Amortisation |
||||
At 1 October 2022 |
|
|
|
|
Charge for the period |
|
– |
|
|
------------ |
--------- |
--------- |
------------- |
|
At 30 November 2023 |
|
|
|
|
------------ |
--------- |
--------- |
------------- |
|
Carrying amount |
||||
At 30 November 2023 |
|
|
|
|
------------ |
--------- |
--------- |
------------- |
|
At 30 September 2022 |
|
|
|
|
------------ |
--------- |
--------- |
------------- |
|
Company |
Intellectual property |
£ |
|
Cost |
|
At 1 October 2022 (as restated) and 30 November 2023 |
|
------- |
|
Amortisation |
|
At 1 October 2022 |
|
Charge for the period |
|
------- |
|
At 30 November 2023 |
|
------- |
|
Carrying amount |
|
At 30 November 2023 |
|
------- |
|
At 30 September 2022 |
|
------- |
|
Group |
Freehold property |
Long leasehold property |
Fixtures, fittings and equipment |
Motor vehicles |
Computer equipment |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Oct 2022 (as restated) |
|
|
|
|
|
|
Additions |
– |
– |
– |
– |
|
|
--------- |
-------- |
--------- |
--------- |
--------- |
------------ |
|
At 30 Nov 2023 |
|
|
|
|
|
|
--------- |
-------- |
--------- |
--------- |
--------- |
------------ |
|
Depreciation |
||||||
At 1 Oct 2022 |
|
|
|
|
|
|
Charge for the period |
|
– |
|
|
|
|
--------- |
-------- |
--------- |
--------- |
--------- |
------------ |
|
At 30 Nov 2023 |
|
|
|
|
|
|
--------- |
-------- |
--------- |
--------- |
--------- |
------------ |
|
Carrying amount |
||||||
At 30 Nov 2023 |
|
– |
|
|
|
|
--------- |
-------- |
--------- |
--------- |
--------- |
------------ |
|
At 30 Sep 2022 |
|
– |
|
|
|
|
--------- |
-------- |
--------- |
--------- |
--------- |
------------ |
|
Company |
Fixtures and fittings |
£ |
|
Cost |
|
At 1 October 2022 (as restated) and 30 November 2023 |
|
------- |
|
Depreciation |
|
At 1 October 2022 |
|
Charge for the period |
|
------- |
|
At 30 November 2023 |
|
------- |
|
Carrying amount |
|
At 30 November 2023 |
|
------- |
|
At 30 September 2022 |
|
------- |
|
Group |
Motor vehicles |
£ |
|
At 30 November 2023 |
|
-------- |
|
At 30 September 2022 |
|
-------- |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 October 2022 as restated and 30 November 2023 |
|
------------- |
|
Impairment |
|
At 1 October 2022 as restated |
|
Impairment losses |
|
------------- |
|
At 30 November 2023 |
|
------------- |
|
Carrying amount |
|
At 30 November 2023 |
|
------------- |
|
At 30 September 2022 |
|
------------- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
30 Nov 23 |
30 Sep 22 |
30 Nov 23 |
30 Sep 22 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
|
Amounts owed by group undertakings |
– |
– |
|
|
Prepayments and accrued income |
|
|
|
|
Directors loan account |
|
|
|
|
Other debtors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
30 Nov 23 |
30 Sep 22 |
30 Nov 23 |
30 Sep 22 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
|
|
|
Obligations under finance leases |
|
|
– |
– |
Other creditors |
|
|
|
|
--------- |
------------ |
--------- |
--------- |
|
|
|
|
|
|
--------- |
------------ |
--------- |
--------- |
|
Group |
Company |
|||
30 Nov 23 |
30 Sep 22 |
30 Nov 23 |
30 Sep 22 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Obligations under finance leases |
– |
|
– |
– |
---- |
-------- |
---- |
---- |
|
Group |
Company |
|||
30 Nov 23 |
30 Sep 22 |
30 Nov 23 |
30 Sep 22 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
– |
|
– |
– |
-------- |
-------- |
---- |
---- |
|
|
|
– |
– |
|
-------- |
-------- |
---- |
---- |
|
Group |
Deferred tax (note 22) |
Other Provisions |
Total |
£ |
£ |
£ |
|
At 1 October 2022 (as restated) |
|
|
|
Additions |
(
|
– |
(
|
Charge against provision |
(
|
– |
(
|
-------- |
------- |
-------- |
|
At 30 November 2023 |
|
|
|
-------- |
------- |
-------- |
|
Group |
Company |
|||
30 Nov 23 |
30 Sep 22 |
30 Nov 23 |
30 Sep 22 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Included in provisions (note 21) |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
30 Nov 23 |
30 Sep 22 |
30 Nov 23 |
30 Sep 22 |
|
(restated) |
(restated) |
|||
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
30 Nov 23 |
30 Sep 22 |
|||
(restated) |
||||
No. |
£ |
No. |
£ |
|
|
6,427,000 |
6,427 |
6,427,000 |
6,427 |
|
3,060,000 |
3,060 |
3,060,000 |
3,060 |
|
510,000 |
510 |
510,000 |
510 |
|
80,000 |
80 |
103,000 |
103 |
|
100,000 |
100 |
100,000 |
100 |
Ordinary F Shares shares of £0.001 each |
1,020,000 |
1,020 |
1,020,000 |
1,020 |
------------- |
-------- |
------------- |
-------- |
|
11,197,000 |
11,197 |
11,220,000 |
11,220 |
|
------------- |
-------- |
------------- |
-------- |
|
30 Nov 23 |
30 Sep 22 |
|||
(restated) |
||||
No. |
£ |
No. |
£ |
|
|
|
6,427 |
|
6,427 |
|
|
3,060 |
|
3,060 |
|
|
510 |
|
510 |
|
|
80 |
|
103 |
|
|
100 |
|
100 |
Ordinary F Shares shares of £0.001 each |
1,020,000 |
1,020 |
1,020,000 |
1,020 |
------------- |
-------- |
------------- |
-------- |
|
|
11,197 |
|
11,220 |
|
------------- |
-------- |
------------- |
-------- |
|
At 1 Oct 2022 |
Cash flows |
At 30 Nov 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(22,459) |
|
Debt due within one year |
(565,252) |
(4,733,425) |
(5,298,677) |
Debt due after one year |
(5,297,211) |
5,297,211 |
– |
------------ |
------------ |
------------ |
|
(
|
|
(
|
|
------------ |
------------ |
------------ |
|
Balance brought forward and outstanding |
||
30 Nov 23 |
30 Sep 22 |
|
£ |
£ |
|
|
|
|
|
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
|
Notes to the Financial Statements (continued) |