2024
|
2023
|
||
£
|
£
|
||
Turnover
|
£8,566,147
|
£9,041,063
|
|
EBITDA
|
£699,850
|
£1,825,283
|
|
Director
|
23/01/2025
|
|
|
Director
|
|
for and on behalf of
|
|
1st Floor, Prospect House
Rouen Road
Norwich
Norfolk
NR1 1RE
|
2024 | 2023 as restated |
|||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER | 4 |
|
|
|
Cost of sales |
( |
( |
||
GROSS PROFIT |
|
|
||
Administrative expenses |
( |
( |
||
Other operating income |
|
|
||
OPERATING PROFIT | 6 |
|
|
|
Loss on disposal of fixed assets |
( |
|
||
Other interest receivable and similar income | 11 |
|
|
|
Interest payable and similar charges | 12 |
( |
( |
|
PROFIT BEFORE TAXATION |
|
|
||
Tax on Profit | 13 |
( |
( |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
|
|
||
2024 | 2023 as restated |
|||
---|---|---|---|---|
£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
|
|
||
OTHER COMPREHENSIVE INCOME: | ||||
Gain on revaluation of freehold property |
|
|
||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
|
|
||
2024 | 2023 as restated |
||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 15 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 18 |
|
|
||
Debtors | 19 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 20 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 21 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Dilapidations Provision | 25 |
( |
( |
||
Deferred Taxation | 24 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 26 |
|
|
||
Revaluation reserve | 31 |
|
|
||
Capital redemption reserve |
|
|
|||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 3,671,005 | 3,910,679 | |||
Director
|
2024 | 2023 as restated |
||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Investment Properties | 16 |
|
|
||
Investments | 17 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Debtors | 19 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 20 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
( |
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 24 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 26 |
|
|
||
Revaluation reserve | 31 |
|
|
||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 1,287,776 | 1,177,135 | |||
Director
|
|
Share Capital | Revaluation reserve | Capital Redemption | Profit and Loss Account | Total | |
---|---|---|---|---|---|
£ | £ | £ | £ | £ | |
As at 1 May 2022 |
|
|
|
|
2,920,424 |
Profit for year | - | - | - | 1,268,905 |
|
Surplus on revaluation | - |
|
- | - |
|
Deferred tax on revaluation | - | (96,232) | - | - | (96,232) |
Other comprehensive income for the year | - |
|
- |
|
|
Total comprehensive income for the year | - | 288,697 | - |
|
1,557,602 |
Dividends paid | - | - | - | (567,347) | (567,347) |
As at 30 April 2023 and 1 May 2023 as restated |
|
|
|
|
3,910,679 |
Profit for year | - | - | - | 192,426 |
|
Surplus on revaluation | - |
|
- | - |
|
Deferred tax on revaluation | - | (12,500) | - | - | (12,500) |
Other comprehensive income for the year | - |
|
- |
|
|
Total comprehensive income for the year | - | 37,500 | - |
|
229,926 |
Dividends paid | - | - | - | (469,600) | (469,600) |
As at 30 April 2024 |
|
|
|
|
3,671,005 |
Share Capital | Revaluation reserve | Profit and Loss Account | Total | |
---|---|---|---|---|
£ | £ | £ | £ | |
As at 1 May 2022 |
|
|
|
759,703 |
Profit for the year and total comprehensive income | - | - |
|
984,779 |
Dividends paid | - | - | (567,347) | (567,347) |
Transfer to revaluation reserve | - | - | (332,900) | (332,900) |
Transfer to/from Profit & Loss Account | - |
|
- | 332,900 |
As at 30 April 2023 and 1 May 2023 as restated |
|
|
|
1,177,135 |
Profit for the year and total comprehensive income | - | - |
|
580,241 |
Dividends paid | - | - | (469,600) | (469,600) |
Transfer to revaluation reserve | - | - | (37,500) | (37,500) |
Transfer to/from Profit & Loss Account | - |
|
- | 37,500 |
As at 30 April 2024 |
|
|
|
1,287,776 |
2024 | 2023 as restated |
|||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
|
|
|
Interest paid |
( |
( |
||
Tax paid |
( |
( |
||
Net cash generated from operating activities |
|
|
||
Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
( |
||
Grants received |
|
|
||
Interest received |
|
|
||
Net cash used in investing activities |
( |
( |
||
Cash flows from financing activities | ||||
Equity dividends paid |
( |
( |
||
Repayment of bank borrowings |
( |
( |
||
Proceeds from new other loans | 1,281,021 | - | ||
Repayment of finance leases |
( |
( |
||
Amount withdrawn by directors | - | (6,470) | ||
Net cash generated from/(used in) financing activities |
|
( |
||
(Decrease)/increase 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 as restated |
||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Tax on profit |
|
|
|
Interest expense |
|
|
|
Interest income |
( |
( |
|
Depreciation of tangible assets |
|
|
|
Loss on disposal of tangible assets | 1,261 | - | |
Grant income | - | (9,598) | |
Movements in working capital: | |||
Increase in stocks |
( |
( |
|
Decrease/(increase) in trade and other debtors |
|
( |
|
Decrease in trade and other creditors |
( |
( |
|
Net cash generated from operations |
|
|
|
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 May 2023 | Cash flows | Non-cash changes | As at 30 April 2024 | |
---|---|---|---|---|
£ | £ | £ | £ | |
Cash at bank and in hand |
|
(2,034,324) | 584,734 |
|
Finance leases | (440,311) | (846,543) | - | (1,286,854) |
Debts falling due within one year |
( |
- | - |
( |
Debts falling due after more than one year | (151,667) | 70,000 | - | (81,667) |
1,385,409 | (2,810,867) | 584,734 | (840,724) | |
Freehold |
|
Leasehold Improvements |
|
Plant & Machinery |
|
Motor Vehicles |
|
Fixtures & Fittings |
|
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
Grant income | - |
|
|
Other operating income |
|
|
|
1,032 | 42,571 | ||
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
Bad debts | 14,019 | (5,035) | |
Operating lease rentals |
|
|
|
Depreciation of tangible fixed assets |
|
|
|
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the group and company's financial statements |
|
|
|
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
|
|
||
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
|
|
||
2024 | 2023 as restated |
||
---|---|---|---|
Money purchase pension schemes |
|
|
|
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
Bank interest receivable |
|
|
|
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
Bank loans and overdrafts |
|
|
|
Finance charges payable under finance leases and hire purchase contracts | 33,808 | 21,888 | |
Other finance charges |
|
|
|
52,715 | 41,223 | ||
The tax charge on the profit for the group for the year was as follows:
|
|||||
Tax Rate | 2024 | 2023 as restated |
|||
---|---|---|---|---|---|
2024 | 2023 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 25.0% | 19.5% |
( |
|
|
Deferred Tax | |||||
Deferred taxation |
|
|
|||
Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
|
|||||
2024 | 2023 | ||||
£ | £ | ||||
Profit before tax | 410,163 | 1,586,757 | |||
Tax on profit at 25% (UK standard rate) |
|
|
|||
Goodwill/depreciation not allowed for tax |
|
|
|||
Expenses not deductible for tax purposes |
( |
|
|||
Tax losses utilised |
|
|
|||
Capital allowances |
( |
( |
Short term timing differences |
|
|
|||
Prior period adjustment |
|
|
|||
Difference in tax rates |
|
|
|||
Total tax charge for the period | 217,737 | 317,582 | |||
Future Tax Changes
There are no factors to note regarding future tax changes.
|
Land & Property | ||||
---|---|---|---|---|
Freehold | Leasehold Improvements | Plant & Machinery | Motor Vehicles | |
£ | £ | £ | £ | |
Cost or Valuation | ||||
As at 1 May 2023 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
|
|
|
( |
Revaluation |
|
|
|
|
As at 30 April 2024 |
|
|
|
|
Depreciation | ||||
As at 1 May 2023 |
|
|
|
|
Provided during the period |
|
|
|
|
Disposals |
|
|
|
( |
As at 30 April 2024 |
|
|
|
|
Net Book Value | ||||
As at 30 April 2024 |
|
|
|
|
As at 1 May 2023 |
|
|
|
|
Fixtures & Fittings | Total | |
---|---|---|
£ | £ | |
Cost or Valuation | ||
As at 1 May 2023 |
|
|
Additions |
|
|
Disposals |
|
( |
Revaluation |
|
|
As at 30 April 2024 |
|
|
Depreciation | ||
As at 1 May 2023 |
|
|
Provided during the period |
|
|
Disposals |
|
( |
As at 30 April 2024 |
|
|
Net Book Value | ||
As at 30 April 2024 |
|
|
As at 1 May 2023 |
|
|
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
Plant & Machinery |
|
|
|
Motor Vehicles |
|
|
|
|
|
||
2024 | |
---|---|
£ | |
Fair Value | |
As at 1 May 2023 |
|
Additions |
|
Revaluations | 50,000 |
As at 30 April 2024 |
|
Unlisted | |
---|---|
£ | |
Cost | |
As at 1 May 2023 |
|
As at 30 April 2024 |
|
Provision | |
As at 1 May 2023 |
|
As at 30 April 2024 |
|
Net Book Value | |
As at 30 April 2024 |
|
As at 1 May 2023 |
|
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
Materials |
|
|
|
Work in progress |
|
|
|
|
|
||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 as restated |
2024 | 2023 as restated |
||||
£ | £ | £ | £ | ||||
Due within one year | |||||||
Trade debtors |
|
|
|
|
|||
Prepayments and accrued income |
|
|
|
|
|||
Other debtors |
|
|
|
|
|||
Corporation tax recoverable assets |
|
|
|
|
|||
Amounts owed by group undertakings | - | - | - |
|
|||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 as restated |
2024 | 2023 as restated |
||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
Trade creditors |
|
|
|
|
|||
Bank loans and overdrafts |
|
|
|
|
|||
Amounts owed to group undertakings | - | - |
|
|
|||
Other creditors | 39,441 | 22,669 | 5,999 | 6,000 | |||
Corporation tax | - |
|
|
|
|||
Taxation and social security | 233,346 | 249,948 | - | - | |||
Accruals and deferred income |
|
|
|
|
|||
|
|
|
|
||||
Group | ||||
---|---|---|---|---|
2024 | 2023 as restated |
|||
£ | £ | |||
Net obligations under finance lease and hire purchase contracts |
|
|
||
Bank loans |
|
|
||
|
|
|||
Group | ||||
---|---|---|---|---|
2024 | 2023 as restated |
|||
£ | £ | |||
Amounts falling due within one year or on demand: | ||||
Bank loans |
|
|
||
Group | ||||
---|---|---|---|---|
2024 | 2023 as restated |
|||
£ | £ | |||
Amounts falling due between one and five years: | ||||
Bank loans |
|
|
||
Group | ||||
---|---|---|---|---|
2024 | 2023 as restated |
|||
£ | £ | |||
The future minimum finance lease payments are as follows: | ||||
Not later than one year |
|
|
||
Later than one year and not later than five years |
|
|
||
|
|
|||
|
|
|||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 as restated |
2024 | 2023 as restated |
||||
£ | £ | £ | £ | ||||
Other timing differences | 870,842 | 524,480 | 123,467 | 110,967 | |||
Group
|
Company
|
||||||
2024
|
2023
|
2024
|
2023
|
||||
£
|
£
|
£
|
£
|
||||
Deferred tax on written down fixed asset values
|
699,049
|
365,187
|
-
|
-
|
|||
Deferred tax on property revaluation
|
108,732
|
96,232
|
123,467
|
110,967
|
|||
Deferred tax on rolled over capital gains
|
63,061
|
63,061
|
-
|
-
|
|||
870,842
|
524,480
|
123,467
|
110,967
|
Group | |||
---|---|---|---|
Deferred Tax | Other Provisions | Total | |
£ | £ | £ | |
As at 1 May 2023 |
|
|
819,480 |
Additions |
|
|
346,362 |
Utilised |
|
( |
(11,780) |
Balance at 30 April 2024 |
|
|
1,154,062 |
Company | ||
---|---|---|
Deferred Tax | Total | |
£ | £ | |
As at 1 May 2023 |
|
110,967 |
Additions |
|
12,500 |
Balance at 30 April 2024 |
|
123,467 |
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
||
2024 | 2023 as restated |
||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Final dividend paid |
|
|
|
Group
|
Company
|
||||||
2024
|
2023
|
2024
|
2023
|
||||
£
|
£
|
£
|
£
|
||||
Cash at bank
|
563,265
|
2,047,387
|
34,532
|
NIL
|
|||
563,265
|
2,047,387
|
34,532
|
NIL
|