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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Statement of comprehensive income |
9 |
Statement of financial position |
10 |
Statement of changes in equity |
11 |
Statement of cash flows |
12 |
Notes to the financial statements |
13 |
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Strategic Report |
2023 | 2022 | ||
£ | £ | ||
Turnover | 8,964,433 | 7,756,296 | |
Gross profit | 3,666,146 | 3,149,966 | |
Gross profit margin (%) | 42 | 41 | |
Net assets | 5,256,363 | 5,095,092 | |
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Director |
Registered office: |
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England |
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Directors' Report |
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Director |
Registered office: |
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England |
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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 |
Camburgh House |
27 New Dover Road |
Canterbury |
Kent |
CT1 3DN |
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Statement of Comprehensive Income |
2023 |
2022 |
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(restated) |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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Gross profit |
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Distribution costs |
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Administrative expenses |
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------------ |
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Operating profit |
5 |
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Other interest receivable and similar income |
9 |
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Profit before taxation |
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Tax on profit |
10 |
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--------- |
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Profit for the financial year and total comprehensive income |
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Statement of Financial Position |
2023 |
2022 |
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(restated) |
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Note |
£ |
£ |
Intangible assets |
12 |
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Tangible assets |
13 |
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--------- |
--------- |
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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 |
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Total assets less current liabilities |
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Provisions |
17 |
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Net assets |
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Called up share capital |
21 |
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Revaluation reserve |
22 |
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Capital redemption reserve |
22 |
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Profit and loss account |
22 |
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Shareholders funds |
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------------ |
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Director |
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Statement of Changes in Equity |
Called up share capital |
Revaluation reserve |
Capital redemption reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
£ |
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At 1 January 2022 |
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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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Redemption of shares |
(
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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 December 2022 |
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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 |
11 |
– |
– |
– |
(
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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 December 2023 |
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-------- |
--------- |
-------- |
------------ |
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Statement of Cash Flows |
2023 |
2022 |
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(restated) |
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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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– |
Other interest receivable and similar income |
(
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(
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Gains on disposal of tangible assets |
– |
(
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Tax on profit |
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Accrued expenses |
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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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(
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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 received |
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Tax paid |
(
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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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------------ |
--------- |
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Net cash used in investing activities |
(
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(
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------------ |
--------- |
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Dividends paid |
(
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– |
Cancellation of share capital |
– |
(
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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 increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year |
1,290,522 |
821,463 |
------------ |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Goodwill |
- |
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Patents, trademarks and licences |
- |
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Short leasehold property |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Sale of goods |
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------------ |
------------ |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Amortisation of intangible assets |
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– |
Depreciation of tangible assets |
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Gains on disposal of tangible assets |
– |
(
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Foreign exchange differences |
(
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(
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--------- |
--------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Fees payable for the audit of the financial statements |
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– |
-------- |
---- |
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2023 |
2022 |
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No. |
No. |
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Administrative and production staff |
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---- |
---- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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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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--------- |
--------- |
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--------- |
--------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Remuneration |
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Company contributions to defined contribution pension plans |
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--------- |
--------- |
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--------- |
--------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Interest on bank deposits |
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---- |
------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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UK current tax expense |
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– |
Origination and reversal of timing differences |
(
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--------- |
--------- |
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Tax on profit |
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--------- |
--------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Profit on ordinary activities before taxation |
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------------ |
--------- |
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Profit on ordinary activities by rate of tax |
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Effect of expenses not deductible for tax purposes |
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(
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Effect of capital allowances and depreciation |
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(
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Utilisation of tax losses |
(
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(
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Effect of deferred tax provisions |
(
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Research and development credit |
– |
(65,776)
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--------- |
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Tax on profit |
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------------ |
--------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
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– |
--------- |
---- |
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Goodwill |
Patents, trademarks and licences |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 January 2023 (as restated) and 31 December 2023 |
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-------- |
--------- |
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Amortisation |
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At 1 January 2023 |
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Charge for the year |
– |
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-------- |
--------- |
--------- |
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At 31 December 2023 |
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-------- |
--------- |
--------- |
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Carrying amount |
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At 31 December 2023 |
– |
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-------- |
--------- |
--------- |
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At 31 December 2022 |
– |
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-------- |
--------- |
--------- |
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Short leasehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
|||||
At 1 January 2023 (as restated) |
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Additions |
– |
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– |
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Disposals |
– |
(
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– |
– |
(
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--------- |
------------ |
--------- |
-------- |
------------ |
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At 31 December 2023 |
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--------- |
------------ |
--------- |
-------- |
------------ |
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Depreciation |
|||||
At 1 January 2023 |
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Charge for the year |
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– |
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Disposals |
– |
(
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– |
– |
(
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--------- |
------------ |
--------- |
-------- |
------------ |
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At 31 December 2023 |
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--------- |
------------ |
--------- |
-------- |
------------ |
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Carrying amount |
|||||
At 31 December 2023 |
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– |
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--------- |
------------ |
--------- |
-------- |
------------ |
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At 31 December 2022 |
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– |
– |
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--------- |
------------ |
--------- |
-------- |
------------ |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Raw materials and consumables |
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--------- |
--------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
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Prepayments and accrued income |
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Other debtors |
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------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Trade creditors |
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Accruals and deferred income |
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Corporation tax |
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– |
Social security and other taxes |
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------------ |
------------ |
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------------ |
------------ |
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Deferred tax (note 18) |
|
£ |
|
At 1 January 2023 (as restated) |
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Charge against provision |
(
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--------- |
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At 31 December 2023 |
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--------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Included in provisions (note 17) |
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--------- |
--------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Unused tax credits |
(
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– |
Provisions |
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--------- |
--------- |
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160,181 |
171,003 |
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--------- |
--------- |
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2023 |
2022 |
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(restated) |
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No. |
£ |
No. |
£ |
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60,000 |
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60,000 |
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|
2,000 |
|
2,000 |
-------- |
-------- |
-------- |
-------- |
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-------- |
-------- |
-------- |
-------- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
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Cash at bank and in hand |
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1,334,813 |
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------------ |
------------ |
------------ |
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