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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Independent auditor's report to the members |
6 |
Statement of income and retained earnings |
11 |
Statement of financial position |
12 |
Statement of cash flows |
13 |
Notes to the financial statements |
14 |
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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 |
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Aisling House |
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50 Stranmillis Embankment |
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Belfast |
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BT9 5FL |
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Bankers |
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35 University Road |
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Belfast |
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BT7 1ND |
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Donegall Square West |
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Belfast |
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BT1 6JS |
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Solicitors |
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St George's Buildings |
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37 - 41 High Street |
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Belfast |
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BT1 2AB |
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Strategic Report |
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Director |
Registered office: |
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Directors' Report |
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Director |
Registered office: |
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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 |
Aisling House |
50 Stranmillis Embankment |
Belfast |
BT9 5FL |
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Statement of Income and Retained Earnings |
2023 |
2022 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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------------- |
------------- |
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Gross profit |
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Administrative expenses |
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Other operating income |
5 |
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Operating profit |
6 |
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Other interest receivable and similar income |
9 |
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------------ |
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Profit before taxation |
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Tax on profit |
10 |
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--------- |
--------- |
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(Loss)/profit for the financial year and total comprehensive income |
(
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--------- |
--------- |
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Retained losses at the start of the year |
(
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(
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------------ |
------------ |
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Retained losses at the end of the year |
(
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(
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------------ |
------------ |
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Intangible assets |
11 |
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Tangible assets |
12 |
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------------ |
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Stocks |
13 |
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Debtors |
14 |
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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 |
15 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
16 |
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Provisions |
17 |
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Net assets |
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------------ |
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Called up share capital |
20 |
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Profit and loss account |
(
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(
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------------ |
------------ |
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Shareholders funds |
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------------ |
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Director |
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Statement of Cash Flows |
2023 |
2022 |
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£ |
£ |
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(Loss)/profit for the financial year |
(
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Adjustments for: |
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Depreciation of tangible assets |
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Amortisation of intangible assets |
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Other interest receivable and similar income |
(
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(
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Loss on disposal of tangible assets |
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– |
Tax on profit |
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Accrued expenses |
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Changes in: |
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Stocks |
(
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Trade and other debtors |
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(
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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 received |
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Tax paid |
(
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(
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--------- |
--------- |
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Net cash from operating activities |
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--------- |
--------- |
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Purchase of tangible assets |
(
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(
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------------ |
--------- |
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Net cash used in investing activities |
(
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(
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------------ |
--------- |
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Net (decrease)/increase in cash and cash equivalents |
(
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Cash and cash equivalents at beginning of year |
2,871,791 |
2,429,590 |
------------ |
------------ |
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Cash and cash equivalents at end of year |
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------------ |
------------ |
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Notes to the Financial Statements |
Goodwill |
- |
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Freehold property |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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2023 |
2022 |
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£ |
£ |
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Sale of goods |
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------------- |
------------- |
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2023 |
2022 |
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£ |
£ |
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Rent Receivable |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
|
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Loss on disposal of tangible assets |
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– |
Impairment of trade debtors |
(7) |
– |
Foreign exchange differences |
– |
|
--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
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------- |
------- |
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2023 |
2022 |
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No. |
No. |
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Number of sales staff |
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---- |
---- |
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2023 |
2022 |
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£ |
£ |
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Wages and salaries |
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Social security costs |
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Other pension costs |
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------------ |
--------- |
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------------ |
--------- |
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2023 |
2022 |
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£ |
£ |
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Interest on cash and cash equivalents |
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---- |
---- |
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2023 |
2022 |
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£ |
£ |
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UK current tax expense |
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Origination and reversal of timing differences |
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--------- |
--------- |
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Tax on profit |
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--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
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Profit on ordinary activities before taxation |
|
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--------- |
--------- |
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Profit on ordinary activities by rate of tax |
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Effect of expenses not deductible for tax purposes |
|
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Effect of capital allowances and depreciation |
(
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(
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Origination and reversal of timing differences |
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--------- |
--------- |
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Tax on profit |
|
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--------- |
--------- |
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Goodwill |
Patents, trademarks and licences |
Total |
|
£ |
£ |
£ |
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Cost |
|||
At 1 January 2023 and 31 December 2023 |
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--------- |
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Amortisation |
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At 1 January 2023 |
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– |
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Charge for the year |
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– |
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--------- |
--------- |
--------- |
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At 31 December 2023 |
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– |
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--------- |
--------- |
--------- |
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Carrying amount |
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At 31 December 2023 |
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--------- |
--------- |
--------- |
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At 31 December 2022 |
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--------- |
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Land and Buildings |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2023 |
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– |
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Additions |
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Disposals |
– |
(
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– |
(
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------------ |
------------ |
-------- |
------------ |
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At 31 December 2023 |
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------------ |
------------ |
-------- |
------------ |
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Depreciation |
||||
At 1 January 2023 |
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– |
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Charge for the year |
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Disposals |
– |
(
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– |
(
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------------ |
------------ |
-------- |
------------ |
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At 31 December 2023 |
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------------ |
------------ |
-------- |
------------ |
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Carrying amount |
||||
At 31 December 2023 |
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------------ |
------------ |
-------- |
------------ |
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At 31 December 2022 |
|
|
– |
|
------------ |
------------ |
-------- |
------------ |
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2023 |
2022 |
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£ |
£ |
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Goods for resale |
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--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
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Trade debtors |
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Prepayments and accrued income |
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Other debtors |
|
|
--------- |
--------- |
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|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Trade creditors |
|
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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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Director loan accounts |
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Other creditors |
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------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
|
£ |
£ |
|
Amounts owed to undertakings in which the company has a participating interest |
|
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------------ |
------------ |
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Deferred tax (note 18) |
|
£ |
|
At 1 January 2023 |
|
Charge against provision |
|
--------- |
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At 31 December 2023 |
|
--------- |
|
2023 |
2022 |
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£ |
£ |
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Included in provisions (note 17) |
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--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
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Accelerated capital allowances |
|
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--------- |
--------- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
|
|
6,983,268 |
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6,983,268 |
------------ |
------------ |
------------ |
------------ |
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------------ |
------------ |
------------ |
------------ |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(1,480,813) |
|
Debt due within one year |
(55,000) |
– |
(55,000) |
Debt due after one year |
(3,431,554) |
– |
(3,431,554) |
------------ |
------------ |
------------ |
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(
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(
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(
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------------ |
------------ |
------------ |
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2023 |
2022 |
|
£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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------- |
-------- |
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------- |
-------- |
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Notes to the Financial Statements (continued) |
Balance brought forward and outstanding |
||
2023 |
2022 |
|
£ |
£ |
|
|
(
|
(
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-------- |
-------- |
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