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FINANCIAL STATEMENTS |
Contents |
Pages |
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OFFICERS AND PROFESSIONAL ADVISERS |
The board of directors |
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Registered office |
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Auditor |
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Chartered Accountants & statutory auditor |
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35 Westgate |
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Huddersfield |
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HD1 1PA |
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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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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 |
35 Westgate |
Huddersfield |
HD1 1PA |
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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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------------- |
------------- |
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Gross profit |
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Distribution costs |
(
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(
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Administrative expenses |
(
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(
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Other operating income |
5 |
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------------- |
------------- |
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Operating profit |
6 |
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Loss on financial assets at fair value through profit or loss |
– |
(
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Income from other fixed asset investments |
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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------------- |
------------- |
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Profit before taxation |
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Tax on profit |
13 |
(
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(
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------------ |
------------ |
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Profit for the financial year |
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------------ |
------------ |
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------------ |
------------ |
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Total comprehensive income for the year |
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------------ |
------------ |
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The owners of the parent company |
(
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Non-controlling interests |
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------------ |
------------ |
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------------ |
------------ |
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The owners of the parent company |
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Non-controlling interests |
(
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------------ |
------------ |
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------------ |
------------ |
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
2024 |
2023 |
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Note |
£ |
£ |
Intangible assets |
15 |
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Tangible assets |
16 |
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Investments |
17 |
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------------ |
------------ |
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Stocks |
18 |
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Debtors |
19 |
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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 |
20 |
(
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(
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------------ |
------------ |
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Net current 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 |
21 |
(
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(
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Provisions |
23 |
(
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(
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
27 |
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Share premium account |
28 |
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Profit and loss account |
28 |
(
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(
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------------ |
------------ |
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Equity attributable to the owners of the parent company |
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Non-controlling interests |
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------------ |
------------ |
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Director |
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BALANCE SHEET |
2024 |
2023 |
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Note |
£ |
£ |
Investments |
17 |
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Debtors |
19 |
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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 |
20 |
(
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(
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------------ |
------------ |
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Net current liabilities |
(
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(
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
27 |
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Share premium account |
28 |
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------------ |
------------ |
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Shareholders funds |
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------------ |
------------ |
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Director |
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Share premium account |
Profit and loss account |
Equity attributable to the owners of the parent company |
Non-controlling interests |
Total |
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£ |
£ |
£ |
£ |
£ |
£ |
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At 1 April 2022 |
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(
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Profit for the year |
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Other comprehensive income for the year: |
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Transfer from minority interests |
– |
– |
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(
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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 |
14 |
– |
– |
(
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(
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(
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(
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Cancellation of subscribed capital |
– |
– |
– |
– |
(
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(
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Acquisition of subsidiary with minority interest |
– |
– |
– |
– |
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Disposal of subsidiary with minority interest |
– |
– |
– |
– |
8,838 |
8,838 |
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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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(
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At 31 March 2023 |
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(
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Loss for the year |
(
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(
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Other comprehensive income for the year: |
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Transfer from minority interests |
– |
– |
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(
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– |
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------------ |
------------ |
------------ |
------------ |
------------ |
------------ |
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Total comprehensive income for the year |
– |
– |
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(
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Dividends paid and payable |
14 |
– |
– |
(
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(
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(
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(
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Acquisition of subsidiary with minority interest |
– |
– |
– |
– |
(
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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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(
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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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STATEMENT OF CHANGES IN SHAREHOLDERS FUNDS |
Called up share capital |
Share premium account |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 April 2022 |
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– |
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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 |
14 |
– |
– |
(
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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 March 2023 |
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– |
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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 |
14 |
– |
– |
(
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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 31 March 2024 |
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– |
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------------ |
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CONSOLIDATED STATEMENT OF CASH FLOWS |
2024 |
2023 |
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£ |
£ |
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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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Income from other fixed asset investments |
(
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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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Gains on disposal of tangible assets |
(
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(
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Tax on profit |
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Changes in: |
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Stocks |
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(
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Trade and other debtors |
(
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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 paid |
(
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(
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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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Acquisition of subsidiaries |
(
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(
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Purchases of other investments |
– |
(
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Dividends received |
|
– |
------------ |
------------ |
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Net cash used in investing activities |
(
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(
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------------ |
------------ |
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Repayments of borrowings |
(
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(
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Government grant income |
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Payments of finance lease liabilities |
(
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(
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Dividends paid |
(
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(
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Dividends paid to minority interests in subsidiaries |
(
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(
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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 |
628,270 |
861,801 |
------------ |
------------ |
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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 |
Goodwill |
- |
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Land and buildings |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
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Improvements to property |
- |
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2024 |
2023 |
|
£ |
£ |
|
Sale of goods |
|
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Rendering of services |
|
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------------- |
------------- |
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------------- |
------------- |
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2024 |
2023 |
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£ |
£ |
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Government grant income |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
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Depreciation of tangible assets |
485,410
|
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Gains on disposal of tangible assets |
(
|
(
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Impairment of trade debtors |
629 |
17,052 |
Research and development expenditure written off |
|
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Foreign exchange differences |
|
|
------------ |
------------ |
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2024 |
2023 |
|
£ |
£ |
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Fees payable for the audit of the financial statements |
|
|
------------ |
------------ |
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2024 |
2023 |
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No. |
No. |
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Total staff |
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------------ |
------------ |
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2024 |
2023 |
|
£ |
£ |
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Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
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|
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------------ |
------------ |
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2024 |
2023 |
|
£ |
£ |
|
Remuneration |
|
|
Company contributions to defined contribution pension plans |
|
|
------------ |
------------ |
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|
|
|
------------ |
------------ |
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2024 |
2023 |
|
No. |
No. |
|
Defined contribution plans |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Aggregate remuneration |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Income from other fixed asset investments |
6,860 |
– |
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on cash and cash equivalents |
– |
|
Interest on bank deposits |
|
|
------------ |
------------ |
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|
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
Other interest payable and similar charges |
|
|
------------ |
------------ |
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|
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|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
UK current tax income |
|
|
Adjustments in respect of prior periods |
(
|
– |
------------ |
------------ |
|
Total current tax |
|
|
------------ |
------------ |
|
Origination and reversal of timing differences |
(
|
|
------------ |
------------ |
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Tax on profit |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
------------ |
------------ |
|
Profit on ordinary activities by rate of tax |
|
|
Adjustment to tax charge in respect of prior periods |
(
|
(
|
Effect of expenses not deductible for tax purposes |
|
|
Effect of capital allowances and depreciation |
|
|
Effect of revenue exempt from tax |
(
|
– |
Effect of different UK tax rates on some earnings |
(440) |
56,466 |
Utilisation of tax losses |
(
|
(
|
Unused tax losses |
|
|
Rounding on tax charge |
– |
2,095 |
R & D tax allowances |
(
|
(
|
------------ |
------------ |
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Tax on profit |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
|
|
------------ |
------------ |
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Group |
Goodwill |
£ |
|
Cost |
|
At 1 April 2023 |
|
Acquisitions through business combinations |
|
Disposals of previously acquired businesses |
(
|
------------ |
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At 31 March 2024 |
|
------------ |
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Amortisation |
|
At 1 April 2023 |
|
Charge for the year |
|
------------ |
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At 31 March 2024 |
|
------------ |
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Carrying amount |
|
At 31 March 2024 |
|
------------ |
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At 31 March 2023 |
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------------ |
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Group |
Land and buildings |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Improvements to property |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
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At 1 Apr 2023 |
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Additions |
|
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Disposals |
– |
– |
– |
(
|
– |
(
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------------ |
------------ |
------------ |
------------ |
------------ |
------------ |
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At 31 Mar 2024 |
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------------ |
------------ |
------------ |
------------ |
------------ |
------------ |
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Depreciation |
||||||
At 1 Apr 2023 |
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Charge for the year |
|
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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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At 31 Mar 2023 |
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------------ |
------------ |
------------ |
------------ |
------------ |
------------ |
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Group |
Land and buildings |
£ |
|
At 31 March 2024 |
|
Aggregate cost |
2,796,913 |
Aggregate depreciation |
(80,428) |
------------ |
|
Carrying value |
|
------------ |
|
At 31 March 2023 |
|
Aggregate cost |
2,796,913 |
Aggregate depreciation |
(55,738) |
------------ |
|
Carrying value |
|
------------ |
|
Group |
Other investments other than loans |
£ |
|
Cost |
|
At 1 April 2023 and 31 March 2024 |
|
------------ |
|
Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
------------ |
|
Carrying amount |
|
At 1 April 2023 and 31 March 2024 |
|
------------ |
|
At 31 March 2023 |
|
------------ |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 April 2023 and 31 March 2024 |
|
------------ |
|
Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
------------ |
|
Carrying amount |
|
At 1 April 2023 and 31 March 2024 |
|
------------ |
|
At 31 March 2023 |
|
------------ |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
80 |
|
Ordinary |
100 |
|
Ordinary |
50.5 |
|
Ordinary |
50.5 |
|
Ordinary |
50.5 |
|
Ordinary |
50.5 |
|
Ordinary |
80 |
|
Ordinary |
92.5 |
|
Ordinary |
92.5 |
|
Ordinary |
92.5 |
|
Ordinary |
92.5 |
|
Ordinary |
92.5 |
|
Ordinary |
92.5 |
|
Ordinary |
92.5 |
|
Ordinary |
92.5 |
|
Ordinary |
92.5 |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Raw materials and consumables |
|
|
– |
– |
Work in progress |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
|
|
– |
– |
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Prepayments and accrued income |
|
|
– |
– |
Directors loan account |
|
– |
|
|
Other debtors |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
– |
– |
|
|
Accruals and deferred income |
|
|
– |
– |
Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
|
– |
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
Director loan accounts |
– |
|
– |
– |
Other creditors |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
|
|
– |
– |
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
|
|
– |
– |
|
Less: future finance charges |
(
|
(
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
Present value of minimum lease payments |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
Group |
Deferred tax (note 24) |
£ |
|
At 1 April 2023 |
|
Additions |
(
|
Charge against provision |
(
|
------------ |
|
At 31 March 2024 |
|
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 23) |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
Unused tax losses |
(
|
(
|
– |
– |
Property gain rolled over |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
178,937 |
252,290 |
– |
– |
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Deferred government grants due within one year |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
Government grants released to profit or loss |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,000 |
|
1,000 |
------------ |
------------ |
------------ |
------------ |
|
At 1 Apr 2023 |
Cash flows |
At 31 Mar 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(128,225) |
|
Debt due within one year |
(1,791,048) |
(400,879) |
(2,191,927) |
Debt due after one year |
(1,488,682) |
382,627 |
(1,106,055) |
------------ |
------------ |
------------ |
|
(
|
(
|
(
|
|
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
|
------------ |
------------ |
------------ |
------------ |
|
|
|
– |
|
|
------------ |
------------ |
------------ |
------------ |
|