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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Income statement |
9 |
Statement of comprehensive income |
10 |
Statement of financial position |
11 |
Statement of changes in equity |
12 |
Notes to the financial statements |
13 |
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Strategic Report |
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Director |
Registered office: |
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Directors' Report |
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(Resigned
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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 |
Camburgh House |
27 New Dover Road |
Canterbury |
Kent |
CT1 3DN |
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Income Statement |
Period from |
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1 Jan 23 to |
Year to |
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31 Mar 24 |
31 Dec 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 |
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Administrative expenses |
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Other operating income |
5 |
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------------ |
------------ |
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Operating loss |
6 |
(
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(
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Interest payable and similar expenses |
10 |
|
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------------ |
------------ |
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Loss before taxation |
(
|
(
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Tax on loss |
11 |
(
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------------ |
------------ |
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Loss for the financial period |
(
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(
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------------ |
------------ |
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Statement of Comprehensive Income |
Period from |
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1 Jan 23 to |
Year to |
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31 Mar 24 |
31 Dec 22 |
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£ |
£ |
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Loss for the financial period |
(
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(
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Revaluation of tangible assets |
(
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------------ |
------------ |
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Other comprehensive income for the period |
(
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------------ |
------------ |
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Total comprehensive income for the period |
(
|
(
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------------ |
------------ |
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Statement of Financial Position |
31 Mar 24 |
31 Dec 22 |
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Note |
£ |
£ |
Tangible assets |
12 |
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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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------------ |
------------ |
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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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Creditors: amounts falling due after more than one year |
16 |
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Taxation including deferred tax |
17 |
(
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Other provisions |
17 |
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--------- |
--------- |
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52,034 |
633,974 |
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------------ |
------------- |
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Net assets |
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------------ |
------------- |
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Called up share capital |
21 |
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Revaluation reserve |
22 |
– |
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Other reserves, including the fair value reserve |
22 |
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Profit and loss account |
22 |
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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 Changes in Equity |
Called up share capital |
Revaluation reserve |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
||
Note |
£ |
£ |
£ |
£ |
£ |
|
At 1 January 2022 |
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Loss for the period |
(
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(
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Other comprehensive income for the period |
20 |
– |
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– |
– |
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------- |
------------ |
--------- |
------------ |
------------ |
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Total comprehensive income for the period |
– |
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– |
(
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(
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Capital contribution |
– |
– |
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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 31 December 2022 |
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Loss for the period |
(
|
(
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Other comprehensive income for the period |
20 |
– |
(
|
– |
– |
(
|
------- |
------------ |
--------- |
------------ |
------------ |
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Total comprehensive income for the period |
– |
(
|
– |
(
|
(
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Capital contribution |
– |
– |
|
– |
|
|
---- |
---- |
-------- |
---- |
-------- |
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Total investments by and distributions to owners |
– |
– |
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– |
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------- |
---- |
--------- |
------------ |
------------ |
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At 31 March 2024 |
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– |
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------- |
---- |
--------- |
------------ |
------------ |
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Notes to the Financial Statements |
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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1 Jan 23 to |
Year to |
|
31 Mar 24 |
31 Dec 22 |
|
£ |
£ |
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Other operating income |
|
|
--------- |
--------- |
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Period from |
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1 Jan 23 to |
Year to |
|
31 Mar 24 |
31 Dec 22 |
|
£ |
£ |
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Depreciation of tangible assets |
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Gains on disposal of tangible assets |
(
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– |
Gains on disposal of investment property |
(
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– |
Impairment of trade debtors |
4,817,185 |
45,539 |
------------ |
--------- |
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Period from |
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1 Jan 23 to |
Year to |
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31 Mar 24 |
31 Dec 22 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
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31 Mar 24 |
31 Dec 22 |
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No. |
No. |
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Production staff |
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Administrative staff |
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Management staff |
4 |
5 |
Number of selling staff |
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---- |
---- |
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---- |
---- |
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Period from |
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1 Jan 23 to |
Year to |
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31 Mar 24 |
31 Dec 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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Period from |
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1 Jan 23 to |
Year to |
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31 Mar 24 |
31 Dec 22 |
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£ |
£ |
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Remuneration |
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Company contributions to defined contribution pension plans |
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--------- |
--------- |
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--------- |
--------- |
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31 Mar 24 |
31 Dec 22 |
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No. |
No. |
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Defined contribution plans |
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---- |
---- |
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Period from |
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1 Jan 23 to |
Year to |
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31 Mar 24 |
31 Dec 22 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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Interest on obligations under finance leases and hire purchase contracts |
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--------- |
--------- |
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--------- |
--------- |
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Period from |
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1 Jan 23 to |
Year to |
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31 Mar 24 |
31 Dec 22 |
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£ |
£ |
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UK current tax income |
(
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– |
Origination and reversal of timing differences |
(
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--------- |
--------- |
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Tax on loss |
(
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--------- |
--------- |
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Period from |
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1 Jan 23 to |
Year to |
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31 Mar 24 |
31 Dec 22 |
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£ |
£ |
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Loss on ordinary activities before taxation |
(
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(
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------------ |
------------ |
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Loss on ordinary activities by rate of tax |
(
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(
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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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Short term timing difference leading to an increase (decrease) in taxation |
(
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Group relief |
(
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------------ |
------------ |
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Tax on loss |
(
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------------ |
------------ |
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Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Investment property |
Total |
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£ |
£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 Jan 2023 |
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Additions |
– |
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– |
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Disposals |
(
|
– |
– |
(
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(
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(
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------------ |
------------ |
--------- |
--------- |
------------ |
------------- |
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At 31 Mar 2024 |
– |
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– |
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------------ |
------------ |
--------- |
--------- |
------------ |
------------- |
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Depreciation |
||||||
At 1 Jan 2023 |
– |
|
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|
– |
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Charge for the period |
– |
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|
– |
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Disposals |
– |
– |
– |
(
|
– |
(
|
------------ |
------------ |
--------- |
--------- |
------------ |
------------- |
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At 31 Mar 2024 |
– |
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– |
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------------ |
------------ |
--------- |
--------- |
------------ |
------------- |
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Carrying amount |
||||||
At 31 Mar 2024 |
– |
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– |
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------------ |
------------ |
--------- |
--------- |
------------ |
------------- |
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At 31 Dec 2022 |
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------------ |
------------ |
--------- |
--------- |
------------ |
------------- |
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31 Mar 24 |
31 Dec 22 |
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£ |
£ |
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Raw materials and consumables |
|
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Work in progress |
|
|
------------ |
------------ |
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------------ |
------------ |
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31 Mar 24 |
31 Dec 22 |
|
£ |
£ |
|
Trade debtors |
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Amounts owed by group undertakings |
|
– |
Prepayments and accrued income |
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Other debtors |
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– |
------------ |
--------- |
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------------ |
--------- |
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31 Mar 24 |
31 Dec 22 |
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£ |
£ |
|
Bank loans and overdrafts |
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Trade creditors |
|
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Social security and other taxes |
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Other creditors |
|
– |
------------ |
------------ |
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------------ |
------------ |
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31 Mar 24 |
31 Dec 22 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
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Amounts owed to group undertakings |
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------------ |
------------ |
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------------ |
------------ |
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MOT and warranty provision |
Deferred tax (note 18) |
Total |
|
£ |
£ |
£ |
|
At 1 January 2023 |
|
|
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Additions |
|
(
|
(
|
Charge against provision |
(
|
– |
(
|
--------- |
--------- |
--------- |
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At 31 March 2024 |
|
(
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|
--------- |
--------- |
--------- |
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31 Mar 24 |
31 Dec 22 |
|
£ |
£ |
|
Included in provisions (note 17) |
(
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|
--------- |
--------- |
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31 Mar 24 |
31 Dec 22 |
|
£ |
£ |
|
Accelerated capital allowances |
(
|
(
|
Revaluation of tangible assets |
– |
|
Unused tax losses |
(
|
– |
Provisions |
|
|
--------- |
--------- |
|
(101,562) |
526,531 |
|
--------- |
--------- |
|
Revaluation reserve |
|
£ |
|
Period ended 31 March 2024 |
|
Revaluation of tangible assets |
(
|
------------ |
|
Period ended 31 December 2022 |
|
Revaluation of tangible assets |
|
--------- |
|
31 Mar 24 |
31 Dec 22 |
|||
No. |
£ |
No. |
£ |
|
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|
1,000 |
|
1,000 |
------- |
------- |
------- |
------- |
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Notes to the Financial Statements (continued) |