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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
5 |
Consolidated statement of income and retained earnings |
6 |
Company statement of income and retained earnings |
7 |
Consolidated statement of financial position |
8 |
Company statement of financial position |
10 |
Consolidated statement of cash flows |
12 |
Notes to the financial statements |
13 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Accountants |
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Chartered Accountants |
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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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Donegall Square West |
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Belfast |
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BT1 6JS |
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Solicitors |
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109 Cregagh Road |
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Belfast |
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Northern Ireland |
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BT6 8PZ |
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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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Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
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Consolidated Statement of Income and Retained Earnings |
Period from |
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Year to |
24 Jun 21 to |
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30 Jun 23 |
30 Jun 22 |
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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/(loss) |
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(
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Administrative expenses |
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Other operating income |
5 |
– |
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--------- |
------------ |
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Operating (loss)/profit |
6 |
(
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Income from shares in group undertakings |
10 |
(
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– |
Other interest receivable and similar income |
11 |
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Interest payable and similar expenses |
12 |
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– |
------------ |
------------ |
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(Loss)/profit before taxation |
(
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Tax on (loss)/profit |
13 |
(
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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 earnings at the start of the year |
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------------ |
------------ |
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Retained (losses)/earnings at the end of the year |
(
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------------ |
------------ |
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Company Statement of Income and Retained Earnings |
Period from |
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Year to |
24 Jun 21 to |
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30 Jun 23 |
30 Jun 22 |
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Note |
£ |
£ |
(Loss)/profit for the financial year and total comprehensive income |
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(
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Retained (losses)/earnings at the start of the year |
(
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------------ |
------------ |
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Retained earnings/(losses) at the end of the year |
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(
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------------ |
------------ |
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Consolidated Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Tangible assets |
14 |
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Debtors |
16 |
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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 |
17 |
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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 |
18 |
– |
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--------- |
--------- |
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Net assets |
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--------- |
--------- |
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Called up share capital |
22 |
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Other reserves, including the fair value reserve |
23 |
– |
(
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Profit and loss account |
23 |
(
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--------- |
------------ |
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Shareholders funds |
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--------- |
------------ |
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Consolidated Statement of Financial Position (continued) |
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Director |
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Company Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Tangible assets |
14 |
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Investments |
15 |
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-------- |
------------ |
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Debtors |
16 |
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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 |
17 |
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------------ |
------------ |
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Net current assets/(liabilities) |
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(
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------------ |
------------ |
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Total assets less current liabilities |
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(
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Provisions |
18 |
– |
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------------ |
------------ |
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Net assets/(liabilities) |
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(
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------------ |
------------ |
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Called up share capital |
22 |
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Profit and loss account |
23 |
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(
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------------ |
------------ |
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Shareholders funds/(deficit) |
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(
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------------ |
------------ |
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Company Statement of Financial Position (continued) |
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Director |
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Consolidated 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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Government grant income |
– |
(
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Income from shares in group undertakings |
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– |
Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
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– |
Loss on disposal of tangible assets |
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Tax on profit/(loss) |
(582,167) |
985,451 |
Accrued expenses/(income) |
|
(
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Movement in deferred tax asset |
(52,622) |
– |
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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------------ |
------------ |
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Cash generated from operations |
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Interest paid |
(
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– |
Interest received |
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Tax received |
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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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Proceeds from sale of tangible assets |
– |
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--------- |
------------ |
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Net cash from investing activities |
– |
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--------- |
------------ |
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Proceeds from borrowings |
(
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(
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Proceeds from loans from group undertakings |
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(
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Government grant income |
– |
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--------- |
------------ |
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Net cash used in financing activities |
(
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(
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--------- |
------------ |
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Net decrease in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
71,907 |
125,392 |
-------- |
--------- |
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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 |
Freehold property |
- |
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Long leasehold property |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Period from |
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Year to |
24 Jun 21 to |
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30 Jun 23 |
30 Jun 22 |
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£ |
£ |
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Sale of goods |
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Rental income |
– |
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-------- |
--------- |
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-------- |
--------- |
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Period from |
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Year to |
24 Jun 21 to |
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30 Jun 23 |
30 Jun 22 |
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£ |
£ |
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Government grant income |
– |
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Other operating income |
– |
|
---- |
------------ |
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– |
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---- |
------------ |
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Period from |
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Year to |
24 Jun 21 to |
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30 Jun 23 |
30 Jun 22 |
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£ |
£ |
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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 |
20,000 |
– |
--------- |
------------ |
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Period from |
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Year to |
24 Jun 21 to |
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30 Jun 23 |
30 Jun 22 |
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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 administrative staff |
– |
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---- |
---- |
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Period from |
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Year to |
24 Jun 21 to |
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30 Jun 23 |
30 Jun 22 |
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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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---- |
--------- |
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Period from |
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Year to |
24 Jun 21 to |
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30 Jun 23 |
30 Jun 22 |
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£ |
£ |
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Remuneration |
– |
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---- |
------- |
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Period from |
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Year to |
24 Jun 21 to |
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30 Jun 23 |
30 Jun 22 |
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£ |
£ |
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(Gain)/loss on FV adj to shares in group |
(3,659,298) |
– |
------------ |
---- |
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Period from |
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Year to |
24 Jun 21 to |
|
30 Jun 23 |
30 Jun 22 |
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£ |
£ |
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Interest on loans and receivables |
12,191 |
3,936 |
-------- |
------- |
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Period from |
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Year to |
24 Jun 21 to |
|
30 Jun 23 |
30 Jun 22 |
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£ |
£ |
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Other interest payable and similar charges |
|
– |
--------- |
---- |
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Period from |
||
Year to |
24 Jun 21 to |
|
30 Jun 23 |
30 Jun 22 |
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£ |
£ |
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UK current tax income |
– |
|
Origination and reversal of timing differences |
(
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--------- |
--------- |
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Tax on profit/(loss) |
(
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--------- |
--------- |
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Period from |
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Year to |
24 Jun 21 to |
|
30 Jun 23 |
30 Jun 22 |
|
£ |
£ |
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(Loss)/profit on ordinary activities before taxation |
(
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------------ |
------------ |
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(Loss)/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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Utilisation of tax losses |
|
(
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Unused tax losses |
– |
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Origination and reversal of timing differences |
(
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------------ |
------------ |
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Tax on profit/(loss) |
(
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------------ |
------------ |
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Group and company |
Investment Property |
Plant and machinery |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
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Cost |
||||
At 1 July 2022 |
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Disposals |
(
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– |
– |
(
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--------- |
-------- |
-------- |
--------- |
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At 30 June 2023 |
– |
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--------- |
-------- |
-------- |
--------- |
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Depreciation |
||||
At 1 July 2022 |
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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 30 June 2023 |
– |
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--------- |
-------- |
-------- |
--------- |
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Carrying amount |
||||
At 30 June 2023 |
– |
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--------- |
-------- |
-------- |
--------- |
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At 30 June 2022 |
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--------- |
-------- |
-------- |
--------- |
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Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 July 2022 and 30 June 2023 |
|
------------ |
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Impairment |
|
At 1 July 2022 |
– |
Impairment losses |
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------------ |
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At 30 June 2023 |
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------------ |
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Carrying amount |
|
At 30 June 2023 |
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------------ |
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At 30 June 2022 |
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------------ |
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Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
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Ordinary |
100 |
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Ordinary |
100 |
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Ordinary |
100 |
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
– |
|
– |
Amounts owed by group undertakings |
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– |
– |
Amounts owed by undertakings in which the company has a participating interest |
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Deferred tax asset |
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Directors loan account |
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Other debtors |
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------------ |
------------ |
------------ |
------------ |
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Deferred tax asset |
|
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|
--------- |
--------- |
-------- |
--------- |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Debenture loans |
– |
|
– |
|
Trade creditors |
|
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Amounts owed to group undertakings |
|
– |
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Amounts owed to undertakings in which the company has a participating interest |
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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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------------ |
------------ |
--------- |
------------ |
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Group and company |
Deferred tax (note 19) |
£ |
|
At 1 July 2022 |
|
Charge against provision |
(
|
--------- |
|
At 30 June 2023 |
– |
--------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Included in debtors (note 16) |
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Included in provisions (note 18) |
– |
(
|
– |
(
|
--------- |
--------- |
-------- |
--------- |
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(
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(
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--------- |
--------- |
-------- |
--------- |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
– |
|
– |
|
Revaluation of tangible assets |
– |
|
– |
|
Unused tax losses |
(
|
(
|
(
|
(
|
--------- |
--------- |
-------- |
--------- |
|
(105,044) |
477,123 |
(95,676) |
486,491 |
|
--------- |
--------- |
-------- |
--------- |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Government grants recognised directly in income |
– |
|
– |
– |
---- |
-------- |
---- |
---- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
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|
2 |
|
2 |
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450,000 |
|
450,000 |
--------- |
--------- |
--------- |
--------- |
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|
450,002 |
|
450,002 |
|
--------- |
--------- |
--------- |
--------- |
|
At 1 Jul 2022 |
Cash flows |
At 30 Jun 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(55,942) |
|
Debt due within one year |
(672,250) |
574,391 |
(97,859) |
--------- |
--------- |
-------- |
|
(
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(
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--------- |
--------- |
-------- |
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Notes to the Financial Statements (continued) |
2023 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
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(
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– |
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--------- |
--------- |
--------- |
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--------- |
--------- |
--------- |
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2022 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
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-------- |
--------- |
--------- |
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-------- |
--------- |
--------- |
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Transaction value |
Balance owed by/(owed to) |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
|
(
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(
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(
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(
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(
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(
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(
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– |
– |
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(
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– |
(
|
– |
|
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– |
|
– |
|
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– |
|
– |
--------- |
--------- |
--------- |
--------- |
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Transaction value |
Balance owed by/(owed to) |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
|
– |
– |
(
|
(
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– |
– |
(
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(
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(
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– |
– |
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(
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– |
(
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– |
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– |
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– |
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– |
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– |
--------- |
--------- |
--------- |
--------- |
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