2024
|
2023
|
||
Gross Profit percentage
|
90.45%
|
87.75%
|
|
Net Profit percentage
|
17.04%
|
17.35%
|
|
Director
|
21/11/2024
|
|
Director
|
|
for and on behalf of
|
|
Chartered Certified Accountants
2 Manor Farm Court, Old Wolverton Road
Milton Keynes
Buckinghamshire
MK12 5NN
|
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER |
|
|
||
Cost of sales |
( |
( |
||
GROSS PROFIT |
|
|
||
Administrative expenses |
( |
( |
||
OPERATING PROFIT | 3 |
|
|
|
Loss on disposal of fixed assets |
( |
( |
||
Other interest receivable and similar income | 8 |
|
|
|
Interest payable and similar charges | 9 |
( |
( |
|
PROFIT BEFORE TAXATION |
|
|
||
Tax on Profit | 10 |
( |
( |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
|
|
||
2024 | 2023 | |||
---|---|---|---|---|
£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
|
|
||
OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
|
|
||
2024 | 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 11 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 12 |
|
|
||
Debtors | 13 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 14 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
( |
( |
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 15 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation |
( |
( |
|||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 19 |
|
|
||
Share premium account |
|
|
|||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 7,116,087 | 6,526,684 | |||
Director
|
|
Share Capital | Share Premium | Profit and Loss Account | Total | |
---|---|---|---|---|
£ | £ | £ | £ | |
As at 1 July 2022 |
|
|
|
5,980,876 |
Profit for the year and total comprehensive income | - | - |
|
545,808 |
As at 30 June 2023 and 1 July 2023 |
|
|
|
6,526,684 |
Profit for the year and total comprehensive income | - | - |
|
593,800 |
Dividends paid | - | - | (4,500) | (4,500) |
Arising on shares issued during the period |
|
- | - | 103 |
As at 30 June 2024 |
|
|
|
7,116,087 |
2024 | 2023 | |||
---|---|---|---|---|
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 |
( |
( |
||
Proceeds from disposal of tangible assets |
|
|
||
Interest received |
|
|
||
Net cash used in investing activities |
( |
( |
||
Cash flows from financing activities | ||||
Proceeds from issue of share capital |
|
|
||
Equity dividends paid |
( |
|
||
Repayment of bank borrowings |
( |
( |
||
Repayment of finance leases |
|
|
||
Amount withdrawn by directors | (29,324) | (18,096) | ||
Net cash generated from/(used in) financing activities |
|
( |
||
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 | ||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Tax on profit |
|
|
|
Interest expense |
|
|
|
Interest income |
( |
( |
|
Depreciation of tangible assets |
|
|
|
Loss on disposal of tangible assets | 22,958 | 2,145 | |
Movements in working capital: | |||
Increase in stocks |
( |
( |
|
Decrease/(increase) in trade and other debtors |
|
( |
|
(Decrease)/increase in trade and other creditors |
( |
|
|
Net cash generated from operations |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 July 2023 | Cash flows | As at 30 June 2024 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
116,863 |
|
Finance leases | (22,200) | (131,092) | (153,292) |
Debts falling due within one year |
( |
(10,650) |
( |
Debts falling due after more than one year | (1,083,504) | 107,022 | (976,482) |
694,092 | 82,143 | 776,235 | |
Plant & Machinery |
|
Motor Vehicles |
|
Fixtures & Fittings |
|
Computer Equipment |
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bad debts | - | 1,541 | |
Depreciation of tangible fixed assets |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
Office and administration |
|
|
|
Sales, marketing and distribution |
|
|
|
Operations |
|
|
|
Maintenance |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank interest receivable |
|
|
|
Other interest receivable | 289 | - | |
61,266 | 17,320 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank loans and overdrafts |
|
|
|
Finance charges payable under finance leases and hire purchase contracts | 5,489 | 1,923 | |
Other finance charges |
|
|
|
98,026 | 82,006 | ||
The tax charge on the profit for the year was as follows:
|
|||||
Tax Rate | 2024 | 2023 | |||
---|---|---|---|---|---|
2024 | 2023 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 25.0% | 25.0% |
|
|
|
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 | 719,488 | 768,951 | |||
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 |
( |
( |
|||
Difference in tax rates |
|
( |
|||
Total tax charge for the period | 138,595 | 64,881 | |||
Land & Property | ||||
---|---|---|---|---|
Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
£ | £ | £ | £ | |
Cost | ||||
As at 1 July 2023 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
|
( |
|
|
As at 30 June 2024 |
|
|
|
|
Depreciation | ||||
As at 1 July 2023 |
|
|
|
|
Provided during the period |
|
|
|
|
Disposals |
|
( |
|
|
As at 30 June 2024 |
|
|
|
|
Net Book Value | ||||
As at 30 June 2024 |
|
|
|
|
As at 1 July 2023 |
|
|
|
|
Computer Equipment | Total | |
---|---|---|
£ | £ | |
Cost | ||
As at 1 July 2023 |
|
|
Additions |
|
|
Disposals |
|
( |
As at 30 June 2024 |
|
|
Depreciation | ||
As at 1 July 2023 |
|
|
Provided during the period |
|
|
Disposals |
|
( |
As at 30 June 2024 |
|
|
Net Book Value | ||
As at 30 June 2024 |
|
|
As at 1 July 2023 |
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Stock |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Trade debtors | - |
|
|
Prepayments and accrued income |
|
|
|
Other debtors |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
|
|
|
Trade creditors |
|
|
|
Bank loans and overdrafts |
|
|
|
Corporation tax |
|
|
|
Other taxes and social security |
|
|
|
VAT |
|
|
|
Other creditors |
|
|
|
Accruals and deferred income |
|
|
|
Director's loan account |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
|
|
|
Bank loans |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank loans |
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Net obligations under finance lease and hire purchase contracts | 153,292 | 22,200 | |
Bank loans and overdrafts | 1,099,092 | 1,195,464 |
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Amounts falling due within one year or on demand: | |||
Bank loans |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Amounts falling due between one and five years: | |||
Bank loans |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Amounts falling due after more than five years: | |||
Bank loans |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
The future minimum finance lease payments are as follows: | |||
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
||
|
|
||
Deferred Tax | Total | |
---|---|---|
£ | £ | |
As at 1 July 2023 |
|
451,407 |
Utilised |
( |
(12,907) |
Balance at 30 June 2024 |
|
438,500 |
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Final dividend paid |
|
|
|