|
|
|
|
Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
4 |
Independent auditor's report to the members |
6 |
Consolidated statement of comprehensive income |
10 |
Consolidated statement of financial position |
11 |
Company statement of financial position |
12 |
Consolidated statement of changes in equity |
13 |
Company statement of changes in equity |
14 |
Consolidated statement of cash flows |
15 |
Notes to the financial statements |
16 |
|
Strategic Report |
|
Director |
Registered office: |
|
|
|
|
Directors' Report |
|
|
|
|
|
|
|
|
|
|
|
|
|
Director |
Registered office: |
|
|
|
|
Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered accountants & statutory auditor |
246 Park View |
Whitley Bay |
Tyne and Wear |
NE26 3QX |
|
Consolidated Statement of Comprehensive Income |
2024 |
2023 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
|
|
------------- |
------------- |
|
Gross profit |
|
|
Administrative expenses |
|
|
|
Other operating income |
5 |
|
|
------------ |
------------ |
||
Operating profit |
6 |
|
|
Other interest receivable and similar income |
10 |
|
|
Interest payable and similar expenses |
11 |
|
|
------------ |
------------ |
||
Profit before taxation |
|
|
|
Tax on profit |
12 |
|
|
------------ |
--------- |
||
Profit for the financial year and total comprehensive income |
|
|
|
------------ |
--------- |
||
|
Consolidated Statement of Financial Position |
2024 |
2023 |
|
Note |
£ |
£ |
Intangible assets |
14 |
|
|
Tangible assets |
15 |
|
|
--------- |
--------- |
||
|
|
||
Stocks |
17 |
|
|
Debtors |
18 |
|
|
Cash at bank and in hand |
|
|
|
------------- |
------------- |
||
|
|
||
Creditors: amounts falling due within one year |
19 |
|
|
------------- |
------------- |
||
Net current assets |
|
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
20 |
|
|
Provisions |
22 |
|
|
------------ |
------------ |
||
Net assets |
|
|
|
------------ |
------------ |
||
Called up share capital |
27 |
|
|
Capital redemption reserve |
28 |
|
|
Profit and loss account |
28 |
|
|
------------ |
------------ |
||
Shareholders funds |
|
|
|
------------ |
------------ |
||
|
|
Director |
Director |
|
Company Statement of Financial Position |
2024 |
2023 |
|
Note |
£ |
£ |
Tangible assets |
15 |
|
|
Investments |
16 |
|
|
------------ |
------------ |
||
|
|
||
Stocks |
17 |
|
|
Debtors |
18 |
|
|
Cash at bank and in hand |
|
|
|
------------ |
------------ |
||
|
|
||
Creditors: amounts falling due within one year |
19 |
|
|
------------ |
------------ |
||
Net current assets |
|
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
20 |
|
|
Provisions |
22 |
|
|
------------ |
------------ |
||
Net assets |
|
|
|
------------ |
------------ |
||
Called up share capital |
27 |
|
|
Capital redemption reserve |
28 |
|
|
Profit and loss account |
28 |
|
|
------------ |
------------ |
||
Shareholders funds |
|
|
|
------------ |
------------ |
||
|
|
Director |
Director |
|
Consolidated Statement of Changes in Equity |
Called up share capital |
Capital redemption reserve |
Profit and loss account |
Total |
||
£ |
£ |
£ |
£ |
||
At 1 May 2022 |
|
|
|
|
|
Profit for the year |
|
|
|||
------- |
---- |
------------ |
------------ |
||
Total comprehensive income for the year |
– |
– |
|
|
|
Dividends paid and payable |
13 |
– |
– |
(
|
(
|
------- |
---- |
------------ |
------------ |
||
Total investments by and distributions to owners |
– |
– |
(
|
(
|
|
At 30 April 2023 |
|
|
|
|
|
Profit for the year |
|
|
|||
------- |
---- |
------------ |
------------ |
||
Total comprehensive income for the year |
– |
– |
|
|
|
Dividends paid and payable |
13 |
– |
– |
(
|
(
|
---- |
---- |
--------- |
--------- |
||
Total investments by and distributions to owners |
– |
– |
(
|
(
|
|
------- |
---- |
------------ |
------------ |
||
At 30 April 2024 |
|
|
|
|
|
------- |
---- |
------------ |
------------ |
||
|
Company Statement of Changes in Equity |
Called up share capital |
Capital redemption reserve |
Profit and loss account |
Total |
||
£ |
£ |
£ |
£ |
||
At 1 May 2022 |
|
|
|
|
|
Profit for the year |
|
|
|||
------- |
---- |
------------ |
------------ |
||
Total comprehensive income for the year |
– |
– |
|
|
|
Dividends paid and payable |
13 |
– |
– |
(
|
(
|
------- |
---- |
------------ |
------------ |
||
Total investments by and distributions to owners |
– |
– |
(
|
(
|
|
At 30 April 2023 |
|
|
2,697,303
|
|
|
Profit for the year |
|
|
|||
------- |
---- |
------------ |
------------ |
||
Total comprehensive income for the year |
– |
– |
|
|
|
Dividends paid and payable |
13 |
– |
– |
(
|
(
|
---- |
---- |
--------- |
--------- |
||
Total investments by and distributions to owners |
– |
– |
(
|
(
|
|
------- |
---- |
------------ |
------------ |
||
At 30 April 2024 |
|
|
|
|
|
------- |
---- |
------------ |
------------ |
||
|
Consolidated Statement of Cash Flows |
2024 |
2023 |
||
Note |
£ |
£ |
|
Cash generated from operations |
29 |
(
|
|
Interest paid |
(
|
(
|
Interest received |
|
|
Tax paid |
(
|
(
|
------------ |
------------ |
|
Net cash (used in)/from operating activities |
(
|
|
------------ |
------------ |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
|
|
Acquisition of subsidiaries |
– |
(
|
------------ |
------------ |
|
Net cash used in investing activities |
(
|
(
|
------------ |
------------ |
|
Proceeds from borrowings |
(
|
|
Government grant income |
– |
|
Payments of finance lease liabilities |
|
|
Equity payments |
(
|
(
|
------------ |
------------ |
|
Net cash (used in)/from financing activities |
(
|
|
------------ |
------------ |
|
Net (decrease)/increase in cash and cash equivalents |
(
|
|
Cash and cash equivalents at beginning of year |
3,784,385 |
2,344,048 |
------------ |
------------ |
|
Cash and cash equivalents at end of year |
|
|
------------ |
------------ |
|
|
Notes to the Financial Statements |
Goodwill |
- |
Amortised over ten years |
|
Short leasehold property |
- |
Amortised over five years |
|
Motor vehicles |
- |
25.00% Straight line |
|
2024 |
2023 |
|
£ |
£ |
|
Construction contracts |
|
|
------------- |
------------- |
|
2024 |
2023 |
|
£ |
£ |
|
Rental income |
|
– |
Government grant income |
– |
|
-------- |
------- |
|
|
|
|
-------- |
------- |
|
2024 |
2023 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
|
(
|
Impairment of trade debtors |
(2,162) |
(5,576) |
Operating lease rentals |
|
|
--------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
Other non-audit services |
– |
|
-------- |
-------- |
|
2024 |
2023 |
|
No. |
No. |
|
Production staff |
|
|
Administrative staff |
|
|
Management staff |
8 |
8 |
---- |
---- |
|
|
|
|
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on cash and cash equivalents |
|
– |
Interest on bank deposits |
|
|
Other interest receivable and similar income |
|
– |
-------- |
------- |
|
|
|
|
-------- |
------- |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
Interest payable on overdue taxation |
|
|
--------- |
-------- |
|
|
|
|
--------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
UK current tax expense |
|
|
Adjustments in respect of prior periods |
|
– |
--------- |
--------- |
|
Total current tax |
|
|
--------- |
--------- |
|
Origination and reversal of timing differences |
|
|
--------- |
--------- |
|
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 |
(
|
|
Rounding on tax charge |
– |
2 |
Deferred tax movement |
|
|
Adjustment due to tax rate change during the year |
– |
5,595
|
------------ |
--------- |
|
Tax on profit |
|
|
------------ |
--------- |
|
Group |
Goodwill |
£ |
|
Cost |
|
At 1 May 2023 and 30 April 2024 |
|
--------- |
|
Amortisation |
|
At 1 May 2023 |
|
Charge for the year |
|
--------- |
|
At 30 April 2024 |
|
--------- |
|
Carrying amount |
|
At 30 April 2024 |
|
--------- |
|
At 30 April 2023 |
|
--------- |
|
Group |
Freehold property |
Short leasehold property |
Fixtures and fittings |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 1 May 2023 |
|
|
|
|
|
Additions |
– |
|
|
|
|
Disposals |
– |
– |
– |
(
|
(
|
-------- |
--------- |
--------- |
--------- |
------------ |
|
At 30 April 2024 |
|
|
|
|
|
-------- |
--------- |
--------- |
--------- |
------------ |
|
Depreciation |
|||||
At 1 May 2023 |
– |
|
|
|
|
Charge for the year |
– |
|
|
|
|
Disposals |
– |
– |
– |
(
|
(
|
-------- |
--------- |
--------- |
--------- |
------------ |
|
At 30 April 2024 |
– |
|
|
|
|
-------- |
--------- |
--------- |
--------- |
------------ |
|
Carrying amount |
|||||
At 30 April 2024 |
|
|
|
|
|
-------- |
--------- |
--------- |
--------- |
------------ |
|
At 30 April 2023 |
|
|
|
|
254,480
|
-------- |
--------- |
--------- |
--------- |
------------ |
|
Company |
Freehold property |
Short leasehold property |
Fixtures and fittings |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 1 May 2023 |
|
|
|
|
|
Additions |
– |
|
|
|
|
Disposals |
– |
– |
– |
(
|
(
|
-------- |
--------- |
--------- |
--------- |
--------- |
|
At 30 April 2024 |
|
|
|
|
|
-------- |
--------- |
--------- |
--------- |
--------- |
|
Depreciation |
|||||
At 1 May 2023 |
– |
|
|
|
|
Charge for the year |
– |
|
|
|
|
Disposals |
– |
– |
– |
(
|
(
|
-------- |
--------- |
--------- |
--------- |
--------- |
|
At 30 April 2024 |
– |
|
|
|
|
-------- |
--------- |
--------- |
--------- |
--------- |
|
Carrying amount |
|||||
At 30 April 2024 |
|
|
|
|
|
-------- |
--------- |
--------- |
--------- |
--------- |
|
At 30 April 2023 |
|
|
|
|
106,764
|
-------- |
--------- |
--------- |
--------- |
--------- |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 May 2023 and 30 April 2024 |
|
------------ |
|
Impairment |
|
At 1 May 2023 and 30 April 2024 |
– |
------------ |
|
Carrying amount |
|
At 1 May 2023 and 30 April 2024 |
|
------------ |
|
At 30 April 2023 |
|
------------ |
|
Registered office |
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
|||
|
Gosforth Industrial Estate |
Ordinary |
100 |
Newcastle upon Tyne |
|||
Tyne and Wear |
|||
NE3 1XL |
|||
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 |
|
|
|
– |
Other creditors |
|
|
|
|
Other short term creditors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
– |
Other creditors |
|
|
|
|
--------- |
------------ |
--------- |
--------- |
|
|
|
|
|
|
--------- |
------------ |
--------- |
--------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
|
|
Later than 1 year and not later than 5 years |
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
Group |
Deferred tax (note 23) |
£ |
|
At 1 May 2023 |
|
Additions |
|
-------- |
|
At 30 April 2024 |
|
-------- |
|
Company |
Deferred tax (note 23) |
£ |
|
At 1 May 2023 |
|
Additions |
|
-------- |
|
At 30 April 2024 |
|
-------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 22) |
|
|
|
|
-------- |
-------- |
-------- |
------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
|
|
-------- |
-------- |
-------- |
------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Government grants recognised directly in income |
– |
|
– |
– |
---- |
------- |
---- |
---- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Financial liabilities measured at fair value through profit or loss |
612,083 |
894,583 |
612,083 |
894,583 |
--------- |
--------- |
--------- |
--------- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
2,450 |
|
2,450 |
|
|
200 |
|
200 |
|
|
500 |
|
500 |
|
|
1,650 |
|
1,650 |
------- |
------- |
------- |
------- |
|
|
4,800 |
|
4,800 |
|
------- |
------- |
------- |
------- |
|
2024 |
2023 |
|
£ |
£ |
|
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
126,949 |
59,220 |
Amortisation of intangible assets |
|
|
Government grant income |
– |
(
|
Other interest receivable and similar income |
(
|
(
|
Interest payable and similar expenses |
|
|
Gains on disposal of tangible assets |
(
|
(
|
Tax on profit |
|
|
Accrued (income)/expenses |
(
|
|
Changes in: |
||
Stocks |
(
|
|
Trade and other debtors |
(
|
(
|
Trade and other creditors |
(
|
|
--------- |
------------ |
|
(
|
|
|
--------- |
------------ |
|
At 1 May 2023 |
Cash flows |
At 30 Apr 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(1,987,216) |
|
Debt due within one year |
(297,642) |
(59,274) |
(356,916) |
Debt due after one year |
(718,327) |
112,914 |
(605,413) |
------------ |
------------ |
------------ |
|
|
(
|
|
|
------------ |
------------ |
------------ |
|
Transaction value |
Balance owed by/(owed to) |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
|
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
|
Notes to the Financial Statements (continued) |
Transaction value |
Balance owed by/(owed to) |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
|
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|