|
|
FOR THE YEAR ENDED |
|
|
FINANCIAL STATEMENTS |
Contents |
Page |
Strategic report |
1 |
Director's report |
3 |
Independent auditor's report to the members |
5 |
Profit and loss account |
8 |
Balance sheet |
9 |
Statement of cash flows |
10 |
Notes to the financial statements |
11 |
|
STRATEGIC REPORT |
2024 | 2023 | |||
£ | £ | |||
Turnover | 21,238,768 | 27,712,522 | ||
Gross profit margin | 12.4% | 9.1% | ||
|
|
Director |
|
Registered office: |
|
|
|
|
|
|
|
DIRECTOR'S REPORT |
|
|
|
|
|
|
Director |
|
Registered office: |
|
|
|
|
|
|
|
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered Accountants & Statutory Auditor |
2 Crossways Business Centre |
Bicester Road |
Kingswood |
Aylesbury |
Bucks |
HP18 0RA |
|
PROFIT AND LOSS ACCOUNT |
2024 |
2023 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
|
|
------------ |
------------ |
|
Gross profit |
|
|
Administrative expenses |
|
|
|
----------- |
----------- |
||
Operating profit |
5 |
|
|
Other interest receivable and similar income |
9 |
|
|
Interest payable and similar expenses |
10 |
|
|
----------- |
----------- |
||
Profit before taxation |
|
|
|
Tax on profit |
11 |
|
|
-------- |
-------- |
||
Profit for the financial year and total comprehensive income |
|
|
|
-------- |
-------- |
||
Retained earnings at the start of the year |
|
|
----------- |
----------- |
|
Retained earnings at the end of the year |
|
|
----------- |
----------- |
|
|
BALANCE SHEET |
2024 |
2023 |
|||
Note |
£ |
£ |
£ |
£ |
Tangible assets |
13 |
|
|
||
Investments |
14 |
|
|
||
----------- |
-------- |
||||
|
|
||||
Debtors |
15 |
|
|
||
Cash at bank and in hand |
|
|
|||
----------- |
----------- |
||||
|
|
||||
Creditors: amounts falling due within one year |
16 |
|
|
||
----------- |
----------- |
||||
Net current assets |
|
|
|||
----------- |
----------- |
||||
Total assets less current liabilities |
|
|
|||
Creditors: amounts falling due after more than one year |
17 |
|
|
||
Taxation including deferred tax |
19 |
|
|
||
----------- |
----------- |
||||
Net assets |
|
|
|||
----------- |
----------- |
||||
Called up share capital |
22 |
|
|
||
Share premium account |
23 |
|
|
||
Capital redemption reserve |
23 |
|
|
||
Profit and loss account |
23 |
|
|
||
----------- |
----------- |
||||
Shareholders funds |
|
|
|||
----------- |
----------- |
||||
|
|
Director |
|
|
STATEMENT OF CASH FLOWS |
2024 |
2023 |
|
£ |
£ |
|
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Other interest receivable and similar income |
(
|
(
|
Interest payable and similar expenses |
|
|
Gains on disposal of tangible assets |
(
|
(
|
Tax on profit |
|
|
Changes in: |
||
Trade and other debtors |
|
|
Trade and other creditors |
(
|
(
|
-------- |
-------- |
|
Cash generated from operations |
|
|
Tax received |
– |
|
------ |
-------- |
|
Net cash from operating activities |
|
|
------ |
-------- |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
|
|
Interest received |
|
|
-------- |
-------- |
|
Net cash (used in)/from investing activities |
(
|
|
-------- |
-------- |
|
Payments of finance lease liabilities |
(
|
(
|
Interest paid |
(
|
(
|
New finance leases and hire purchase contracts |
268,650 |
40,340
|
-------- |
-------- |
|
Net cash from financing activities |
|
|
-------- |
-------- |
|
Net (decrease)/increase in cash and cash equivalents |
(
|
|
Cash and cash equivalents at beginning of year |
1,680,468 |
1,376,405 |
----------- |
----------- |
|
Cash and cash equivalents at end of year |
|
|
----------- |
----------- |
|
|
NOTES TO THE FINANCIAL STATEMENTS |
Goodwill |
- |
5% Straight Line
|
|
Leasehold Property |
- |
2% Straight Line
|
|
Plant & Machinery |
- |
25% Reducing Balance
|
|
Fixtures and Fittings |
- |
33% Reducing Balance
|
|
Motor Vehicles |
- |
25% Reducing Balance
|
|
2024 |
2023 |
|
£ |
£ |
|
Construction contracts |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
|
(
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
------- |
------- |
|
2024 |
2023 |
|
No. |
No. |
|
Production staff |
|
|
Administrative staff |
|
|
---- |
---- |
|
|
|
|
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
----------- |
----------- |
|
|
|
|
----------- |
----------- |
|
2024 |
2023 |
|
£ |
£ |
|
Remuneration |
|
|
------- |
------- |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on cash and cash equivalents |
|
|
------ |
------ |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
– |
Interest on obligations under finance leases and hire purchase contracts |
|
|
------- |
---- |
|
|
|
|
------- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Origination and reversal of timing differences |
|
|
------- |
------- |
|
Tax on profit |
|
|
------- |
------- |
|
2024 |
2023 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
-------- |
-------- |
|
Profit on ordinary activities by rate of tax |
|
|
Effect of expenses not deductible for tax purposes |
|
|
Investment tax credit |
119
|
(6,156)
|
Adjustments in respect of prior periods - deferred tax |
– |
(2,309)
|
Adjustment to closing deferred tax to average rate |
– |
27,586
|
-------- |
-------- |
|
Tax on profit |
|
|
-------- |
-------- |
|
Goodwill |
|
£ |
|
Cost |
|
At 1 March 2023 and 29 February 2024 |
|
-------- |
|
Amortisation |
|
At 1 March 2023 and 29 February 2024 |
|
-------- |
|
Carrying amount |
|
At 29 February 2024 |
– |
-------- |
|
At 28 February 2023 |
– |
-------- |
|
Leasehold Property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 1 March 2023 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
– |
(
|
(
|
(
|
(
|
-------- |
----------- |
-------- |
-------- |
----------- |
|
At 29 February 2024 |
|
|
|
|
|
-------- |
----------- |
-------- |
-------- |
----------- |
|
Depreciation |
|||||
At 1 March 2023 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Disposals |
– |
(
|
(
|
(
|
(
|
-------- |
----------- |
-------- |
-------- |
----------- |
|
At 29 February 2024 |
|
|
|
|
|
-------- |
----------- |
-------- |
-------- |
----------- |
|
Carrying amount |
|||||
At 29 February 2024 |
|
|
|
|
|
-------- |
----------- |
-------- |
-------- |
----------- |
|
At 28 February 2023 |
|
|
|
|
|
-------- |
----------- |
-------- |
-------- |
----------- |
|
Unquoted investments |
|
£ |
|
Cost |
|
At 1 March 2023 and 29 February 2024 |
|
------- |
|
Impairment |
|
At 1 March 2023 and 29 February 2024 |
– |
------- |
|
Carrying amount |
|
At 29 February 2024 |
|
------- |
|
At 28 February 2023 |
|
------- |
|
2024 |
2023 |
|
£ |
£ |
|
Amounts owed by customers on construction contracts |
|
|
Prepayments and accrued income |
|
|
Other debtors |
|
|
----------- |
----------- |
|
|
|
|
----------- |
----------- |
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
|
|
Accruals and deferred income |
|
|
Social security and other taxes |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
Other creditors |
|
|
----------- |
----------- |
|
|
|
|
----------- |
----------- |
|
2024 |
2023 |
|
£ |
£ |
|
Obligations under finance leases and hire purchase contracts |
|
|
Other creditors |
|
– |
-------- |
------- |
|
|
|
|
-------- |
------- |
|
2024 |
2023 |
|
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
|
|
-------- |
------- |
|
|
|
|
-------- |
------- |
|
Deferred tax (note 20) |
|
£ |
|
At 1 March 2023 |
|
Amounts recognised in profit and loss account |
48,520
|
-------- |
|
At 29 February 2024 |
|
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
Included in provisions (note 19) |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
Accelerated capital allowances |
|
|
Unused tax losses |
(
|
– |
Pension plan obligations |
(
|
(
|
-------- |
-------- |
|
163,462 |
114,942 |
|
-------- |
-------- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
3,000 |
|
3,000 |
------ |
------ |
------ |
------ |
|
At 1 Mar 2023 |
Cash flows |
At 29 Feb 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(99,922) |
|
Debt due within one year |
(11,643) |
(74,224) |
(85,867) |
Debt due after one year |
(21,582) |
(127,286) |
(148,868) |
----------- |
-------- |
----------- |
|
|
(
|
|
|
----------- |
-------- |
----------- |
|
2024 |
2023 |
|
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
|
– |
-------- |
------- |
|
|
|
|
-------- |
------- |
|
29 Feb 24 | 28 Feb 23 | |
£ | £ | |
Rent purchased from other related parties | £40,000 | £40,000 |
Amounts owed to other related parties | £96,144 | £nil |
Amounts due from other related parties | £1,765,867 | £1,054,029 |