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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Director's report |
3 |
Independent auditor's report to the members |
5 |
Consolidated statement of income and retained earnings |
9 |
Company statement of income and retained earnings |
10 |
Consolidated statement of financial position |
11 |
Company statement of financial position |
12 |
Consolidated statement of cash flows |
13 |
Notes to the financial statements |
14 |
|
Strategic Report |
2024 | 2023 | ||
Turnover | 8,362,032 | 7,744,957 | |
Gross profit (%) | 66 | 64 | |
Earnings before, interest, tax, depreciation and amortisation | 1,878,469 | 1,674,129 | |
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Director |
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Registered office: |
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Director's Report |
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Director |
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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 |
Lyndhurst |
1-3 Cranmer Street |
Long Eaton |
Nottingham |
NG10 1NJ |
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Consolidated Statement of Income and Retained Earnings |
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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Gross profit |
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Distribution costs |
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Administrative expenses |
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Other operating income |
– |
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------------ |
------------ |
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Operating profit |
5 |
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Income from other fixed asset investments |
9 |
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– |
Other interest receivable and similar income |
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Amounts written off investments |
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Interest payable and similar expenses |
– |
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------------ |
------------ |
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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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------------ |
------------ |
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Dividends paid and payable |
11 |
– |
(
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Retained earnings at the start of the year |
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------------ |
------------ |
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Retained earnings at the end of the year |
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------------ |
------------ |
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Company Statement of Income and Retained Earnings |
2024 |
2023 |
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Note |
£ |
£ |
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Profit for the financial year and total comprehensive income |
(
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Dividends paid and payable |
11 |
– |
(
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Retained earnings at the start of the year |
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------------ |
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Retained earnings at the end of the year |
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------------ |
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Consolidated Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
Intangible assets |
12 |
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Tangible assets |
13 |
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Investments |
14 |
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------------ |
------------ |
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Debtors |
15 |
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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 |
16 |
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------------ |
------------ |
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Net current assets |
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------------ |
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Total assets less current liabilities |
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Provisions |
17 |
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------------ |
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Net assets |
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------------ |
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Called up share capital |
20 |
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Profit and loss account |
21 |
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Shareholders funds |
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------------ |
------------ |
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Director |
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Company Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
Intangible assets |
12 |
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Tangible assets |
13 |
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Investments |
14 |
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------------ |
------------ |
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Debtors |
15 |
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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 |
16 |
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------------ |
------------ |
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Net current liabilities |
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------------ |
------------ |
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Total assets less current liabilities |
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Provisions |
17 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
20 |
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Profit and loss account |
21 |
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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 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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Amounts written off investments |
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Gain on financial assets at fair value through profit or loss |
– |
(3,188) |
Income from other fixed asset investments |
(
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– |
Other interest receivable and similar income |
(87,638) |
(62,072) |
Interest payable and similar expenses |
– |
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Loss on disposal of tangible assets |
– |
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Tax on (loss)/profit |
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Accrued expenses/(income) |
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(
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Changes in: |
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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 paid |
– |
(
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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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Cash advances and loans granted |
– |
(
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Acquisition of interests in associates and joint ventures |
– |
(
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Proceeds from sale of other investments |
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– |
------------ |
------------ |
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Net cash from/(used in) investing activities |
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(
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------------ |
------------ |
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Proceeds from borrowings |
– |
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Repayments of borrowings |
(
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– |
Dividends paid |
– |
(
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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/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
2,893,782 |
3,741,105 |
------------ |
------------ |
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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 |
Patents, trademarks and licences |
- |
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Property improvements |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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2024 |
2023 |
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£ |
£ |
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Rendering of services |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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United Kingdom |
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Overseas |
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------------ |
------------ |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Depreciation of tangible assets |
|
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Loss on disposal of tangible assets |
– |
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Impairment of trade debtors |
(2,274) |
(2,813) |
Research and development expenditure written off |
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Foreign exchange differences |
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--------- |
--------- |
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2024 |
2023 |
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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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2024 |
2023 |
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No. |
No. |
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Administrative staff |
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Research and development staff |
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---- |
---- |
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---- |
---- |
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2024 |
2023 |
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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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2024 |
2023 |
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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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2024 |
2023 |
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No. |
No. |
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Defined contribution plans |
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---- |
---- |
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2024 |
2023 |
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£ |
£ |
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(Gain)/loss on disposal of other fixed asset investments |
142,811 |
– |
--------- |
---- |
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2024 |
2023 |
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£ |
£ |
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UK current tax expense |
|
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Adjustments in respect of prior periods |
(
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--------- |
--------- |
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Total current tax |
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--------- |
--------- |
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Origination and reversal of timing differences |
(
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(
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--------- |
--------- |
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Tax on (loss)/profit |
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--------- |
--------- |
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2024 |
2023 |
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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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Adjustment to tax charge in respect of prior periods |
(6,465) |
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Effect of expenses not deductible for tax purposes |
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Effect of capital allowances and depreciation |
– |
(
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Effect of revenue exempt from tax |
– |
(
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Effect of different UK tax rates on some earnings |
– |
(41,131) |
Research and development tax credits |
(
|
(
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------------ |
------------ |
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Tax on (loss)/profit |
|
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------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
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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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Group and company |
Patents, trademarks and licences |
Digital software assets |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 October 2023 and 30 September 2024 |
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------- |
------------ |
------------ |
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Amortisation |
|||
At 1 October 2023 and 30 September 2024 |
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– |
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------- |
------------ |
------------ |
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Carrying amount |
|||
At 1 October 2023 and 30 September 2024 |
– |
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------- |
------------ |
------------ |
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At 30 September 2023 |
– |
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------- |
------------ |
------------ |
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Group |
Freehold property |
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
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Cost |
||||||
At 1 Oct 2023 |
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Additions |
– |
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– |
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------------ |
--------- |
--------- |
--------- |
--------- |
------------ |
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At 30 Sep 2024 |
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------------ |
--------- |
--------- |
--------- |
--------- |
------------ |
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Depreciation |
||||||
At 1 Oct 2023 |
– |
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Charge for the year |
– |
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------------ |
--------- |
--------- |
--------- |
--------- |
------------ |
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At 30 Sep 2024 |
– |
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------------ |
--------- |
--------- |
--------- |
--------- |
------------ |
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Carrying amount |
||||||
At 30 Sep 2024 |
|
– |
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------------ |
--------- |
--------- |
--------- |
--------- |
------------ |
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At 30 Sep 2023 |
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------------ |
--------- |
--------- |
--------- |
--------- |
------------ |
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Company |
Freehold property |
Plant and machinery |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 October 2023 and 30 September 2024 |
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------------ |
-------- |
------------ |
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Depreciation |
|||
At 1 October 2023 |
– |
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Charge for the year |
– |
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|
------------ |
-------- |
------------ |
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At 30 September 2024 |
– |
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------------ |
-------- |
------------ |
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Carrying amount |
|||
At 30 September 2024 |
|
|
|
------------ |
-------- |
------------ |
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At 30 September 2023 |
|
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------------ |
-------- |
------------ |
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Group |
Interests in associates |
Loans to participating interests |
Other investments other than loans |
Total |
£ |
£ |
£ |
£ |
|
Share of net assets/cost |
||||
At 1 October 2023 |
|
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Disposals |
– |
– |
(
|
(
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------------ |
--------- |
--------- |
------------ |
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At 30 September 2024 |
|
|
– |
|
------------ |
--------- |
--------- |
------------ |
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Impairment |
||||
At 1 October 2023 |
|
– |
– |
|
Revaluations |
|
– |
– |
|
------------ |
--------- |
--------- |
------------ |
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At 30 September 2024 |
|
– |
– |
|
------------ |
--------- |
--------- |
------------ |
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Carrying amount |
||||
At 30 September 2024 |
|
|
– |
|
------------ |
--------- |
--------- |
------------ |
|
At 30 September 2023 |
|
|
|
|
------------ |
--------- |
--------- |
------------ |
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Company |
Shares in group undertakings |
Shares in participating interests |
Loans to participating interests |
Other investments other than loans |
Total |
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 1 October 2023 |
|
|
|
|
|
Disposals |
– |
– |
– |
(
|
(
|
---- |
------------ |
--------- |
--------- |
------------ |
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At 30 September 2024 |
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|
|
– |
|
---- |
------------ |
--------- |
--------- |
------------ |
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Impairment |
|||||
At 1 October 2023 |
– |
|
– |
– |
|
Revaluations |
– |
|
– |
– |
|
---- |
------------ |
--------- |
--------- |
------------ |
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At 30 September 2024 |
– |
|
– |
– |
|
---- |
------------ |
--------- |
--------- |
------------ |
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Carrying amount |
|||||
At 30 September 2024 |
|
|
|
– |
|
---- |
------------ |
--------- |
--------- |
------------ |
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At 30 September 2023 |
|
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|
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|
---- |
------------ |
--------- |
--------- |
------------ |
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Group |
Other investments other than loans |
£ |
|
At 30 September 2024 |
|
Aggregate cost |
– |
Aggregate depreciation |
– |
---- |
|
Carrying value |
– |
---- |
|
At 30 September 2023 |
|
Aggregate cost |
500,000 |
Aggregate depreciation |
– |
--------- |
|
Carrying value |
500,000 |
--------- |
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Company |
Other investments other than loans |
£ |
|
At 30 September 2024 |
|
Aggregate cost |
– |
Aggregate depreciation |
– |
---- |
|
Carrying value |
– |
---- |
|
At 30 September 2023 |
|
Aggregate cost |
500,000 |
Aggregate depreciation |
– |
--------- |
|
Carrying value |
500,000 |
--------- |
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Registered office |
Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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1 Cranmer Street |
Ordinary |
100 |
Long Eaton |
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Nottingham |
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NG10 1NJ |
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1 Cranmer Street |
A Ordinary |
80 |
Long Eaton |
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Nottingham |
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NG10 1NJ |
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Delves Road |
Ordinary |
100 |
Heanor |
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DE75 7SJ |
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Other significant holdings |
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Ichor Therapeutics, Inc. |
2603 US Route 11 |
Ordinary |
20.8 |
LaFayette |
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New York |
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13084 |
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USA |
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Bioma Ltd |
Heanor Gate Industrial Estate |
Ordinary |
38 |
Delves Road |
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Heanor |
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DE75 7SJ |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Amounts owed by group undertakings |
– |
– |
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Amounts owed by undertakings in which the company has a participating interest |
|
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Prepayments and accrued income |
|
|
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Director's loan account |
|
– |
|
– |
Other debtors |
|
|
|
|
--------- |
--------- |
-------- |
-------- |
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|
|
|
--------- |
--------- |
-------- |
-------- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
VAT on Capital Goods Scheme |
|
|
|
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-------- |
-------- |
-------- |
-------- |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
– |
– |
|
|
Accruals and deferred income |
|
|
|
|
Corporation tax |
|
|
|
|
Social security and other taxes |
|
|
– |
– |
Director loan accounts |
– |
|
– |
|
Other creditors |
|
|
– |
– |
--------- |
------------ |
------------ |
------------ |
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|
|
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|
--------- |
------------ |
------------ |
------------ |
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Group |
Deferred tax (note 18) |
£ |
|
At 1 October 2023 |
|
Charge against provision |
(
|
-------- |
|
At 30 September 2024 |
|
-------- |
|
Company |
Deferred tax (note 18) |
£ |
|
At 1 October 2023 |
|
Charge against provision |
(
|
-------- |
|
At 30 September 2024 |
|
-------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 17) |
|
|
|
|
-------- |
-------- |
---- |
-------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
|
|
Fair value adjustment of financial assets |
– |
|
– |
|
-------- |
-------- |
---- |
-------- |
|
38,459 |
77,095 |
9 |
21,107 |
|
-------- |
-------- |
---- |
-------- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
---- |
---- |
---- |
---- |
|
At 1 Oct 2023 |
Cash flows |
At 30 Sep 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
1,114,142 |
|
Debt due within one year |
(1,028,739) |
1,028,739 |
– |
------------ |
------------ |
------------ |
|
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|
------------ |
------------ |
------------ |
|
|
Notes to the Financial Statements (continued) |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Tangible assets |
|
– |
– |
– |
--------- |
---- |
---- |
---- |
|
2024 |
|||||
Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
(
|
|
(
|
|
|
------------ |
------------ |
------------ |
--------- |
||
2023 |
|||||
Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
|
|
(
|
(
|
|
-------- |
------------ |
------------ |
------------ |
||