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Group Strategic Report, Report of the Directors and Consolidated Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' 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 group strategic report, report of the directors and consolidated financial statements |
14 |
|
Strategic Report |
2024 | 2023 | ||
Turnover | 13,846,536 | 12,072,650 | |
Gross profit % | 35 | 36 | |
EBT | 1,679,663 | 1,835,696 | |
Net assets | 4,538,497 | 3,485,376 | |
|
Director |
Registered office: |
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Directors' Report |
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Director |
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 |
5 |
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------------ |
------------ |
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Operating profit |
6 |
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Other interest receivable and similar income |
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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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(
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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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(
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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 |
£ |
£ |
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Tangible assets |
12 |
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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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------------ |
------------ |
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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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Creditors: Amounts falling due after more than one year |
17 |
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Provisions |
19 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
23 |
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Profit and loss account |
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------------ |
------------ |
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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 |
£ |
£ |
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Tangible assets |
12 |
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Investments |
13 |
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------------ |
------------ |
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Stocks |
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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Creditors: Amounts falling due after more than one year |
17 |
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Provisions |
19 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
23 |
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Profit and loss account |
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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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Government grant income |
(
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(
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Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
64,910 |
80,008 |
Loss/(gains) on disposal of tangible assets |
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(
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Tax on profit |
|
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Accrued expenses/(income) |
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(
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Changes in: |
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Stocks |
(
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Trade and other debtors |
(
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Trade and other creditors |
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(
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------------ |
------------ |
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Cash generated from operations |
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Interest paid |
(
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(
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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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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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Proceeds from borrowings |
(
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Repayments of borrowings |
– |
(
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Government grant income |
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Payments of finance lease liabilities |
(
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(
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Dividends paid |
(
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(
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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 |
1,104,405 |
508,174 |
------------ |
------------ |
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Cash and cash equivalents at end of year |
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------------ |
------------ |
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Notes to the Group Strategic Report, Report of the Directors and Consolidated Financial Statements |
Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Computer equipment |
- |
|
|
2024 |
2023 |
|
£ |
£ |
|
Rendering of services |
|
|
------------- |
------------- |
|
2024 |
2023 |
|
£ |
£ |
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Rental income |
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Government grant income |
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Waste disposal sales |
|
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Other operating income |
– |
|
--------- |
-------- |
|
|
|
|
--------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
Loss/(gains) on disposal of tangible assets |
|
(
|
Impairment of trade debtors |
– |
9,288 |
Foreign exchange differences |
(
|
– |
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Fees payable for the audit of the group strategic report, report of the directors and consolidated financial statements |
|
|
-------- |
-------- |
|
2024 |
2023 |
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No. |
No. |
|
Production staff |
|
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Administrative staff |
|
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Management staff |
4 |
4 |
---- |
---- |
|
|
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|
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
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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Remuneration |
|
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Company contributions to defined contribution pension plans |
|
|
--------- |
--------- |
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--------- |
--------- |
|
2024 |
2023 |
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No. |
No. |
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Defined contribution plans |
|
|
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
UK current tax income |
|
|
Adjustments in respect of prior periods |
(
|
– |
--------- |
--------- |
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Total current tax |
|
|
--------- |
--------- |
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Origination and reversal of timing differences |
|
|
--------- |
--------- |
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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 |
– |
(
|
Effect of revenue exempt from tax |
(
|
(
|
------------ |
------------ |
|
Tax on profit |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
|
|
--------- |
--------- |
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Group |
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Computer equipment |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Oct 2023 |
|
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|
Additions |
|
|
|
|
|
|
Disposals |
– |
(
|
– |
(
|
– |
(
|
------------ |
------------ |
--------- |
-------- |
--------- |
------------ |
|
At 30 Sep 2024 |
|
|
|
|
|
|
------------ |
------------ |
--------- |
-------- |
--------- |
------------ |
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Depreciation |
||||||
At 1 Oct 2023 |
– |
|
|
|
|
|
Charge for the year |
– |
|
|
|
|
|
Disposals |
– |
(
|
– |
(
|
– |
(
|
------------ |
------------ |
--------- |
-------- |
--------- |
------------ |
|
At 30 Sep 2024 |
– |
|
|
|
|
|
------------ |
------------ |
--------- |
-------- |
--------- |
------------ |
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Carrying amount |
||||||
At 30 Sep 2024 |
|
|
|
|
|
|
------------ |
------------ |
--------- |
-------- |
--------- |
------------ |
|
At 30 Sep 2023 |
|
|
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|
------------ |
------------ |
--------- |
-------- |
--------- |
------------ |
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Company |
Freehold property |
Plant and machinery |
Fixtures and fittings |
Total |
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 October 2023 |
|
|
|
|
Additions |
|
|
– |
|
Disposals |
– |
(
|
– |
(
|
------------ |
------------ |
--------- |
------------ |
|
At 30 September 2024 |
|
|
|
|
------------ |
------------ |
--------- |
------------ |
|
Depreciation |
||||
At 1 October 2023 |
– |
|
|
|
Charge for the year |
– |
|
|
|
Disposals |
– |
(
|
– |
(
|
------------ |
------------ |
--------- |
------------ |
|
At 30 September 2024 |
– |
|
|
|
------------ |
------------ |
--------- |
------------ |
|
Carrying amount |
||||
At 30 September 2024 |
|
|
|
|
------------ |
------------ |
--------- |
------------ |
|
At 30 September 2023 |
|
|
|
|
------------ |
------------ |
--------- |
------------ |
|
Group and company |
Plant and machinery |
£ |
|
At 30 September 2024 |
|
--------- |
|
At 30 September 2023 |
|
------------ |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 October 2023 and 30 September 2024 |
|
-------- |
|
Impairment |
|
At 1 October 2023 and 30 September 2024 |
– |
-------- |
|
Carrying amount |
|
At 1 October 2023 and 30 September 2024 |
|
-------- |
|
At 30 September 2023 |
|
-------- |
|
Registered office |
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
|||
|
Tomolivia Court |
Ordinary |
100 |
Unit 21B |
|||
Merlin Way |
|||
Quarry Hill Industrial Estate |
|||
Ilkeston |
|||
Derbyshire |
|||
DE7 4RA |
|||
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 |
|
|
|
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Trade creditors |
|
|
|
|
Amounts owed to group undertakings |
– |
– |
|
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Accruals and deferred income |
|
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Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
|
Director loan accounts |
– |
|
– |
|
Other creditors |
|
|
|
|
------------ |
------------ |
------------ |
--------- |
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|
|
|
------------ |
------------ |
------------ |
--------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
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 20) |
£ |
|
At 1 October 2023 |
|
Additions |
|
--------- |
|
At 30 September 2024 |
|
--------- |
|
Company |
Deferred tax (note 20) |
£ |
|
At 1 October 2023 |
|
Additions |
|
--------- |
|
At 30 September 2024 |
|
--------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 19) |
|
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--------- |
--------- |
--------- |
--------- |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Deferred government grants due within one year |
|
|
|
|
Deferred government grants due after more than one year |
|
|
|
|
-------- |
-------- |
-------- |
-------- |
|
|
|
|
|
|
-------- |
-------- |
-------- |
-------- |
|
Government grants released to profit or loss |
|
|
|
|
------- |
------- |
------- |
------- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
200 |
|
200 |
---- |
---- |
---- |
---- |
|
At 1 Oct 2023 |
Cash flows |
At 30 Sep 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
303,291 |
|
Debt due within one year |
(377,689) |
167,262 |
(210,427) |
Debt due after one year |
(514,293) |
213,236 |
(301,057) |
------------ |
--------- |
------------ |
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|
|
|
|
------------ |
--------- |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
--------- |
------------ |
---- |
---- |
|
|
|
– |
– |
|
--------- |
------------ |
---- |
---- |
|
2024 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
(
|
|
– |
|
|
|
(
|
|
– |
|
|
-------- |
--------- |
---- |
--------- |
||
(
|
|
– |
|
||
-------- |
--------- |
---- |
--------- |
||
2023 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
(
|
|
(
|
(66,731) |
|
|
|
|
(
|
(
|
|
-------- |
--------- |
--------- |
-------- |
||
|
|
(
|
(67,806) |
||
-------- |
--------- |
--------- |
-------- |
||
|
Notes to the Group Strategic Report, Report of the Directors and Consolidated Financial Statements (continued) |
Transaction value |
Balance owed by/(owed to) |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
|
|
|
|
|
---- |
---- |
------- |
---- |
|