31 May 2024
|
31 May 2023
|
|
Turnover
|
£42,123,635
|
£39,402,561
|
Gross Profit
|
16.2%
|
12.1%
|
Pre-Tax Profit
|
£1,057,859
|
(£119,717)
|
Retained Assets
|
£6,739,405
|
£5,924,142
|
Director
|
10 December 2024
|
|
|
Director
|
|
for and on behalf of
|
|
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER | 3 |
|
|
|
Cost of sales |
( |
( |
||
GROSS PROFIT |
|
|
||
Distribution costs |
|
|
||
Administrative expenses |
( |
( |
||
Other operating income |
|
|
||
Profit on revaluation of investments |
|
|
||
OPERATING PROFIT/(LOSS) | 4 |
|
( |
|
Loss on disposal of fixed assets |
( |
|
||
Other interest receivable and similar income | 9 |
|
|
|
Interest payable and similar charges | 10 |
( |
( |
|
PROFIT/(LOSS) BEFORE TAXATION |
|
( |
||
Tax on Profit/(loss) | 11 |
( |
( |
|
PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
|
( |
||
2024 | 2023 | |||
---|---|---|---|---|
£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
|
( |
||
OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
|
( |
||
2024 | 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 12 |
|
|
||
Investments | 13 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 14 |
|
|
||
Debtors | 15 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 16 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 17 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 19 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 21 |
|
|
||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 6,739,448 | 5,924,184 | |||
Director
|
|
2024 | 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
CURRENT ASSETS | |||||
Debtors | 15 |
|
|
||
Investments |
|
|
|||
|
|
||||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 21 |
|
|
||
SHAREHOLDERS' FUNDS | 3,906,432 | 3,906,432 | |||
Director
|
|
Share Capital | Profit and Loss Account | Total | |
---|---|---|---|
£ | £ | £ | |
As at 1 June 2022 |
|
|
6,091,859 |
Loss for the year and total comprehensive income | - |
( |
(165,675) |
Dividends paid | - | (2,000) | (2,000) |
As at 31 May 2023 and 1 June 2023 |
|
|
5,924,184 |
Profit for the year and total comprehensive income | - |
|
815,264 |
As at 31 May 2024 |
|
|
6,739,448 |
Share Capital | |
---|---|
£ | |
As at 1 June 2022 |
|
As at 31 May 2023 and 1 June 2023 |
|
As at 31 May 2024 |
|
2024 | 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 tangible assets |
( |
( |
||
Interest received |
|
|
||
Net cash used in investing activities |
( |
( |
||
Cash flows from financing activities | ||||
Equity dividends paid |
|
( |
||
Repayment of finance leases |
|
|
||
Net cash generated from financing activities |
|
|
||
Increase in cash and cash equivalents |
|
|
||
Cash and cash equivalents at beginning of year | 2 |
|
|
|
Foreign exchange gains on cash and cash equivalents |
|
|
||
Cash and cash equivalents at end of year | 2 |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Profit/(loss) for the financial year |
|
( |
|
Adjustments for: | |||
Tax on profit/(loss) |
|
|
|
Interest expense |
|
|
|
Interest income |
( |
|
|
Depreciation of tangible assets |
|
|
|
Loss on disposal of tangible assets | 180,401 | - | |
Profit on revaluation of fixed assets | (53,705) | (7,600) | |
Foreign exchange gains | (391) | (867) | |
Movements in working capital: | |||
Decrease/(increase) in stocks |
|
( |
|
Decrease/(increase) in trade and other debtors |
|
( |
|
(Decrease)/increase in trade and other creditors |
( |
|
|
Net cash generated from operations |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 June 2023 | Cash flows | As at 31 May 2024 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
185,799 |
|
Finance leases | (39,355) | (130,443) | (169,798) |
1,383,024 | 55,356 | 1,438,380 | |
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from/(used in) operations | 1 |
|
|
|
Increase/(decrease) in cash and cash equivalents |
|
|
||
Cash and cash equivalents at beginning of year | 2 |
|
|
|
Cash and cash equivalents at end of year | 2 |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Profit/(loss) for the financial year |
|
|
|
Leasehold |
|
Plant & Machinery |
|
Motor Vehicles |
|
Fixtures & Fittings |
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
United Kingdom |
|
|
|
Rest of the world |
|
|
|
42,123,635 | 39,402,561 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bad debts | 23,579 | 3,760 | |
Depreciation of tangible fixed assets |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the group and company's financial statements | - |
|
|
Non-Audit Services | |||
Other non-audit services | - |
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
Office and administration |
|
|
|
Manufacturing |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Amounts paid to third parties in respect of directors' services |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank interest receivable |
|
|
|
14 | - | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Finance charges payable under finance leases and hire purchase contracts | 6,246 | 202 | |
6,246 | 202 | ||
The tax charge on the profit/(loss) for the year was as follows:
|
|||||
Tax Rate | 2024 | 2023 | |||
---|---|---|---|---|---|
2024 | 2023 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 25.0% | 19.0% |
|
( |
|
Prior period adjustment |
|
|
|||
|
( |
||||
Deferred Tax | |||||
Deferred taxation |
( |
|
|||
Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge/(credit) for the year based on the profit/(loss) and the standard rate of corporation tax as follows:
|
|||||
2024 | 2023 | ||||
£ | £ | ||||
Profit before tax | 1,057,860 | (119,717) | |||
Tax on profit at 25% (UK standard rate) |
|
( |
|||
Prior period adjustment |
|
|
|||
Difference in tax rates |
( |
|
|||
Total tax charge for the period | 242,596 | 45,958 | |||
Land & Property | |||||
---|---|---|---|---|---|
Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
£ | £ | £ | £ | £ | |
Cost | |||||
As at 1 June 2023 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
( |
( |
( |
( |
( |
As at 31 May 2024 |
|
|
|
|
|
Depreciation | |||||
As at 1 June 2023 |
|
|
|
|
|
Provided during the period |
|
|
|
|
|
Disposals |
( |
( |
( |
( |
( |
As at 31 May 2024 |
|
|
( |
|
|
Net Book Value | |||||
As at 31 May 2024 |
|
|
|
|
|
As at 1 June 2023 |
|
|
|
|
|
Unlisted | |
---|---|
£ | |
Cost | |
As at 1 June 2023 |
|
Revaluations |
|
As at 31 May 2024 |
|
Provision | |
As at 1 June 2023 |
|
As at 31 May 2024 |
|
Net Book Value | |
As at 31 May 2024 |
|
As at 1 June 2023 |
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Stock |
|
|
|
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Due within one year | |||||||
Trade debtors |
|
|
|
|
|||
Prepayments and accrued income |
|
|
|
|
|||
Other debtors |
|
|
|
|
|||
Corporation tax recoverable assets | - |
|
|
|
|||
Amounts owed by other participating interests | 1,112,476 | 1,096,282 | - | - | |||
|
|
|
|
||||
Group | ||||
---|---|---|---|---|
2024 | 2023 | |||
£ | £ | |||
Net obligations under finance lease and hire purchase contracts |
|
|
||
Trade creditors |
|
|
||
Corporation tax |
|
|
||
Other taxes and social security |
|
|
||
VAT |
|
|
||
Net wages | - | 52,392 | ||
Other creditors |
|
|
||
Accruals and deferred income |
|
|
||
Amounts owed to other participating interests | - |
|
||
|
|
|||
Group | ||||
---|---|---|---|---|
2024 | 2023 | |||
£ | £ | |||
Net obligations under finance lease and hire purchase contracts |
|
|
||
|
|
|||
Group | ||||
---|---|---|---|---|
2024 | 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 |
|
|
||
|
|
|||
|
|
|||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Other timing differences | 526,015 | 557,693 | |
Group | ||
---|---|---|
Deferred Tax | Total | |
£ | £ | |
As at 1 June 2023 |
|
557,693 |
Deferred taxation |
( |
( |
Balance at 31 May 2024 |
|
526,015 |
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Final dividend paid | - |
|
|
- | 2,000 | ||
2024
|
2023
|
|
Sales
|
£362,942
|
£2,224,869
|
Purchases
|
£832,311
|
£622,311
|
Rents payable
|
£210,000
|
£210,000
|
Amounts due from related party
|
£1,112,476
|
£1,096,282
|
Amounts due to related party
|
£0
|
£408,860
|