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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
2 |
Independent auditor's report to the members |
4 |
Consolidated statement of comprehensive income |
8 |
Consolidated statement of financial position |
9 |
Company statement of financial position |
10 |
Consolidated statement of changes in equity |
11 |
Company statement of changes in equity |
12 |
Consolidated statement of cash flows |
13 |
Notes to the financial statements |
14 |
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Strategic Report |
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Director |
Director |
Registered office: |
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Northern Ireland |
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Directors' Report |
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Director |
Director |
Registered office: |
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Northern Ireland |
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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 |
631 Lisburn Road |
Belfast |
BT9 7GT |
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Consolidated Statement of Comprehensive Income |
2024 |
2023 |
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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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------------ |
------------ |
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Operating profit |
6 |
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Other interest receivable and similar income |
10 |
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– |
------------ |
------------ |
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Profit before taxation |
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Tax on profit |
11 |
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------------ |
------------ |
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Profit for the financial year |
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------------ |
------------ |
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Foreign currency retranslation |
(
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– |
--------- |
------------ |
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Total comprehensive income for the year |
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--------- |
------------ |
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Consolidated Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
Intangible assets |
13 |
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– |
Tangible assets |
14 |
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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 |
18 |
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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 |
19 |
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– |
------------ |
------------ |
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Net assets |
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------------ |
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Called up share capital |
23 |
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Other reserves, including the fair value reserve |
24 |
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Profit and loss account |
24 |
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------------ |
------------ |
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Shareholders funds |
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------------ |
------------ |
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Director |
Director |
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Company Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
Intangible assets |
13 |
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– |
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 |
18 |
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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 |
19 |
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– |
------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
23 |
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Profit and loss account |
24 |
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------------ |
------------ |
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Shareholders funds |
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------------ |
------------ |
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Director |
Director |
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Consolidated Statement of Changes in Equity |
Called up share capital |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 May 2022 |
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Profit for the year |
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---- |
---- |
------------ |
------------ |
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Total comprehensive income for the year |
– |
– |
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Dividends paid and payable |
12 |
– |
– |
(
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(
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---- |
---- |
------------ |
------------ |
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Total investments by and distributions to owners |
– |
– |
(
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(
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At 30 April 2023 |
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Profit for the year |
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Other comprehensive income for the year: |
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Foreign currency retranslation |
– |
– |
(
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(
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---- |
---- |
------------ |
------------ |
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Total comprehensive income for the year |
– |
– |
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Dividends paid and payable |
12 |
– |
– |
(
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(
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---- |
---- |
--------- |
--------- |
|||
Total investments by and distributions to owners |
– |
– |
(
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(
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---- |
---- |
------------ |
------------ |
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At 30 April 2024 |
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---- |
---- |
------------ |
------------ |
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Company Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 May 2022 |
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Profit for the year |
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---- |
------------ |
------------ |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
12 |
– |
(
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(
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---- |
------------ |
------------ |
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Total investments by and distributions to owners |
– |
(
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(
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At 30 April 2023 |
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Profit for the year |
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---- |
------------ |
------------ |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
12 |
– |
(
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(
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---- |
--------- |
--------- |
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Total investments by and distributions to owners |
– |
(
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(
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---- |
------------ |
------------ |
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At 30 April 2024 |
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---- |
------------ |
------------ |
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Consolidated Statement of Cash Flows |
2024 |
2023 |
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Note |
£ |
£ |
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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Government grant income |
(
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(
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Other interest receivable and similar income |
(
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– |
Loss on disposal of tangible assets |
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– |
Unrealised foreign currency gains |
(29,128) |
– |
Tax on profit |
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Accrued expenses |
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Changes in: |
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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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Proceeds from sale of tangible assets |
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– |
Purchase of intangible assets |
(
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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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Proceeds from borrowings |
(
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Government grant income |
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Dividends paid |
(
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(
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------------ |
--------- |
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Net cash (used in)/from financing activities |
(
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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 |
1,853,137 |
1,384,045 |
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------------ |
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Cash and cash equivalents at end of year |
17 |
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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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Equipment |
- |
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2024 |
2023 |
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£ |
£ |
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Rendering of services |
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------------ |
------------ |
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2024 |
2023 |
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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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2024 |
2023 |
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£ |
£ |
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Amortisation of intangible assets |
|
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Depreciation of tangible assets |
|
|
Loss on disposal of tangible assets |
|
– |
Foreign exchange differences |
|
(
|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
– |
|
---- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
– |
-------- |
---- |
|
2024 |
2023 |
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No. |
No. |
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Employees |
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---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
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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2024 |
2023 |
|
£ |
£ |
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Remuneration |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
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Interest on cash and cash equivalents |
|
– |
-------- |
---- |
|
2024 |
2023 |
|
£ |
£ |
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UK current tax expense |
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Foreign current tax income |
|
– |
--------- |
--------- |
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Total current tax |
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--------- |
--------- |
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Origination and reversal of timing differences |
|
– |
--------- |
--------- |
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Tax on profit |
|
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--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
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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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Differential between foreign tax rates |
(
|
(
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------------ |
------------ |
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Tax on profit |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
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--------- |
--------- |
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Group and company |
Goodwill |
£ |
|
Cost |
|
At 1 May 2023 |
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Additions |
|
------------ |
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At 30 April 2024 |
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------------ |
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Amortisation |
|
At 1 May 2023 |
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Charge for the year |
|
------------ |
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At 30 April 2024 |
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------------ |
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Carrying amount |
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At 30 April 2024 |
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------------ |
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At 30 April 2023 |
– |
------------ |
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Group |
Freehold property |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 1 May 2023 |
|
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Additions |
|
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Disposals |
– |
– |
(
|
– |
(
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Exchange differences |
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------------ |
--------- |
--------- |
--------- |
------------ |
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At 30 April 2024 |
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------------ |
--------- |
--------- |
--------- |
------------ |
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Depreciation |
|||||
At 1 May 2023 |
|
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Charge for the year |
|
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Disposals |
– |
– |
(
|
– |
(
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Exchange differences |
|
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|
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|
------------ |
--------- |
--------- |
--------- |
------------ |
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At 30 April 2024 |
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------------ |
--------- |
--------- |
--------- |
------------ |
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Carrying amount |
|||||
At 30 April 2024 |
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|
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|
------------ |
--------- |
--------- |
--------- |
------------ |
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At 30 April 2023 |
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|
------------ |
--------- |
--------- |
--------- |
------------ |
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Company |
Freehold property |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 1 May 2023 |
|
|
|
|
|
Additions |
|
|
– |
– |
|
Disposals |
– |
– |
(
|
– |
(
|
------------ |
--------- |
--------- |
------- |
------------ |
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At 30 April 2024 |
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|
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|
------------ |
--------- |
--------- |
------- |
------------ |
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Depreciation |
|||||
At 1 May 2023 |
|
|
|
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Charge for the year |
|
|
|
|
|
Disposals |
– |
– |
(
|
– |
(
|
------------ |
--------- |
--------- |
------- |
------------ |
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At 30 April 2024 |
|
|
|
|
|
------------ |
--------- |
--------- |
------- |
------------ |
|
Carrying amount |
|||||
At 30 April 2024 |
|
|
|
|
|
------------ |
--------- |
--------- |
------- |
------------ |
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At 30 April 2023 |
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|
------------ |
--------- |
--------- |
------- |
------------ |
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Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 May 2023 and 30 April 2024 |
|
---- |
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Impairment |
|
At 1 May 2023 and 30 April 2024 |
– |
---- |
|
Carrying amount |
|
At 1 May 2023 and 30 April 2024 |
|
---- |
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At 30 April 2023 |
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---- |
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Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
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Ordinary |
100 |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
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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Prepayments and accrued income |
|
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|
– |
Corporation tax repayable |
– |
|
– |
– |
------------ |
------------ |
--------- |
------------ |
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------------ |
------------ |
--------- |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Cash at bank and in hand |
|
|
Bank overdrafts |
(
|
– |
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
– |
|
– |
Amounts owed to undertakings in which the company has a participating interest |
– |
– |
|
– |
Accruals and deferred income |
|
|
|
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Corporation tax |
|
|
|
|
Social security and other taxes |
|
– |
|
– |
Director loan accounts |
|
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|
Other creditors |
|
– |
|
– |
--------- |
------------ |
--------- |
--------- |
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|
--------- |
------------ |
--------- |
--------- |
|
Group and company |
Deferred tax (note 20) |
£ |
|
At 1 May 2023 |
– |
Additions |
|
-------- |
|
At 30 April 2024 |
|
-------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 19) |
|
– |
|
– |
-------- |
---- |
-------- |
---- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
– |
|
– |
-------- |
---- |
-------- |
---- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Government grants recognised directly in income |
|
|
– |
|
--------- |
--------- |
---- |
---- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
102 |
|
102 |
---- |
---- |
---- |
---- |
|
At 1 May 2023 |
Cash flows |
At 30 Apr 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(441,454) |
|
Bank overdrafts |
– |
(3,533) |
(3,533) |
Debt due within one year |
(961,422) |
666,707 |
(294,715) |
------------ |
--------- |
------------ |
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------------ |
--------- |
------------ |
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