Director
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Director
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07/02/2025
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Company Secretary
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for and on behalf of
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Admiral House
Waterfront East
Brierley Hill
DY5 1XG
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2024 | 2023 | |||
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Notes | £ | £ | ||
TURNOVER | 3 |
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Cost of sales |
( |
( |
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GROSS PROFIT |
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Administrative expenses |
( |
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Other operating income |
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OPERATING PROFIT | 5 |
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Exceptional items | - | - | ||
Profit on disposal of fixed assets |
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Interest payable and similar charges | 10 |
( |
( |
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PROFIT BEFORE TAXATION |
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Tax on Profit | 11 |
( |
( |
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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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2024 | 2023 | |||
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£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
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OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
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2024 | 2023 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Intangible Assets | 12 |
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Tangible Assets | 13 |
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CURRENT ASSETS | |||||
Stocks | 14 |
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Debtors | 15 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 16 |
( |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 17 |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 20 |
( |
( |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 22 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 1,387,968 | 1,366,657 | |||
Director
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Director
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Share Capital | Profit and Loss Account | Total | |
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£ | £ | £ | |
As at 1 August 2022 |
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889,225 |
Profit for the year and total comprehensive income | - |
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477,432 |
As at 31 July 2023 and 1 August 2023 |
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1,366,657 |
Profit for the year and total comprehensive income | - |
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231,311 |
Dividends paid | - | (210,000) | (210,000) |
As at 31 July 2024 |
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1,387,968 |
2024 | 2023 | |||
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Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from/(used in) operations | 1 |
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( |
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Interest paid |
( |
( |
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Tax paid |
( |
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Net cash generated from/(used in) operating activities |
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( |
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Cash flows from investing activities | ||||
Purchase of intangible assets |
( |
( |
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Purchase of tangible assets |
( |
( |
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Proceeds from disposal of tangible assets |
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Net cash used in investing activities |
( |
( |
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Cash flows from financing activities | ||||
Equity dividends paid |
( |
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Proceeds from new bank borrowings |
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Repayment of bank borrowings |
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( |
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Proceeds from new debenture loans | - | 797,500 | ||
Repayment of debenture loans | (797,500) | - | ||
Proceeds from new other loans | 303,963 | - | ||
Repayment of finance leases |
( |
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Amount withdrawn by directors | (1,521) | - | ||
Net cash generated from financing activities |
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Increase/(decrease) in cash and cash equivalents |
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Cash and cash equivalents at beginning of year | 2 |
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Cash and cash equivalents at end of year | 2 |
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2024 | 2023 | ||
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£ | £ | ||
Profit for the financial year |
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Adjustments for: | |||
Tax on profit |
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Interest expense |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Profit on disposal of tangible assets | (18,437) | (16,500) | |
Movements in working capital: | |||
Decrease/(increase) in stocks |
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( |
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Decrease/(increase) in trade and other debtors |
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( |
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(Decrease)/increase in trade and other creditors |
( |
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Net cash generated from/(used in) operations |
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( |
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2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
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As at 1 August 2023 | Cash flows | As at 31 July 2024 | |
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£ | £ | £ | |
Cash at bank and in hand |
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25,944 |
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Finance leases | (46,327) | (263,179) | (309,506) |
Debts falling due within one year |
( |
(123,209) |
( |
Debts falling due after more than one year | (817,417) | (672,860) | (1,490,277) |
(873,393) | (1,033,304) | (1,906,697) | |
Freehold |
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Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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2024 | 2023 | ||
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£ | £ | ||
Sale of goods | 12,451,827 | 13,979,865 | |
2024 | 2023 | ||
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£ | £ | ||
Rental income |
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Other operating income | - |
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11,529 | 28,058 | ||
2024 | 2023 | ||
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£ | £ | ||
Bad debts | - | 4,632 | |
Depreciation of tangible fixed assets |
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Amortisation of intangible fixed assets |
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2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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2024 | 2023 | ||
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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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2024 | 2023 | ||
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Office and administration |
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Sales, marketing and distribution |
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Manufacturing |
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Research and Development |
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2024 | 2023 | ||
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£ | £ | ||
Emoluments |
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2024 | 2023 | ||
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£ | £ | ||
Bank loans and overdrafts |
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Factoring charges | 135,136 | 77,123 | |
Finance charges payable under finance leases and hire purchase contracts | (526) | 7,329 | |
Foreign exchange |
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274,137 | 127,256 | ||
The tax charge on the profit for the year was as follows:
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Tax Rate | 2024 | 2023 | |||
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2024 | 2023 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 19.0% | 21.0% |
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Deferred Tax | |||||
Deferred taxation |
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Total tax charge for the period |
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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:
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2024 | 2023 | ||||
£ | £ | ||||
Profit before tax | 315,554 | 599,118 | |||
Tax on profit at 19% (UK standard rate) |
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Goodwill/depreciation not allowed for tax |
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Expenses not deductible for tax purposes |
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Tax losses utilised |
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( |
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Capital allowances |
( |
( |
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Short term timing differences |
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Total tax charge for the period | 84,243 | 121,686 | |||
Other | |||
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£ | |||
Cost | |||
As at 1 August 2023 |
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Additions |
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As at 31 July 2024 |
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Amortisation | |||
As at 1 August 2023 |
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Provided during the period |
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As at 31 July 2024 |
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Net Book Value | |||
As at 31 July 2024 |
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As at 1 August 2023 |
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Land & Property | |||||
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Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
£ | £ | £ | £ | £ | |
Cost | |||||
As at 1 August 2023 |
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Additions |
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Disposals |
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( |
( |
As at 31 July 2024 |
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Depreciation | |||||
As at 1 August 2023 |
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Provided during the period |
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As at 31 July 2024 |
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Net Book Value | |||||
As at 31 July 2024 |
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As at 1 August 2023 |
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2024 | 2023 | ||
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£ | £ | ||
Motor Vehicles |
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2024 | 2023 | ||
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£ | £ | ||
Oils, chemicals and additive |
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2024 | 2023 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Amounts owed by group undertakings | 1,832,463 | 1,824,247 | |
Other debtors | 185,002 | 112,180 | |
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2024 | 2023 | ||
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£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
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Trade creditors |
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Bank loans and overdrafts |
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Amounts owed to group undertakings | - |
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Other creditors | 1,769,991 | 1,751,884 | |
Corporation tax |
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Taxation and social security | 24,553 | 138,732 | |
Accruals and deferred income |
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2024 | 2023 | ||
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£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
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Bank loans |
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Bridging loan | - |
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Other creditors | - | 80,191 | |
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2024 | 2023 | ||
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£ | £ | ||
Bank loans |
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2024 | 2023 | ||
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£ | £ | ||
Net obligations under finance lease and hire purchase contracts | 309,506 | 46,327 | |
Bank loans and overdrafts | 1,623,486 | 797,500 | |
Other Creditors | 1,682,218 | 1,695,184 |
2024 | 2023 | ||
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£ | £ | ||
Amounts falling due within one year or on demand: | |||
Bank loans |
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2024 | 2023 | ||
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£ | £ | ||
Amounts falling due between one and five years: | |||
Bank loans |
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Debentures | - |
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2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Amounts falling due after more than five years: | |||
Bank loans |
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2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
The future minimum finance lease payments are as follows: | |||
Not later than one year |
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Later than one year and not later than five years |
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2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Accelerated capital allowances |
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Other timing differences | (10,000) | (10,000) | |
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Deferred Tax | Total | |
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£ | £ | |
As at 1 August 2023 |
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66,342 |
Deferred taxation |
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Balance at 31 July 2024 |
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149,910 |
As at 1 August 2023 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 July 2024 | |
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£ | £ | £ | £ | £ | |
Mr Richard Parry |
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- |
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2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Interim dividend paid |
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