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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Independent auditor's report to the members |
6 |
Statement of comprehensive income |
11 |
Statement of financial position |
12 |
Statement of changes in equity |
13 |
Statement of cash flows |
14 |
Notes to the financial statements |
15 |
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Officers and Professional Advisers |
The board of directors |
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Company secretary |
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Registered office |
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Auditor |
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Chartered Accountants & Statutory Auditors |
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Aisling House |
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50 Stranmillis Embankment |
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Belfast |
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BT9 5FL |
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Bankers |
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11-16 Donegall Square East |
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Belfast |
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BT1 5UB |
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Solicitors |
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The Linenhall |
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32-38 Linenhall Street |
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Belfast |
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Northern Ireland |
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Antrim |
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BT2 8BG |
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Strategic Report |
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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 Auditors |
Aisling House |
50 Stranmillis Embankment |
Belfast |
BT9 5FL |
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Statement of Comprehensive Income |
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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Administrative expenses |
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Other operating income |
5 |
– |
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------------ |
------------ |
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Operating profit/(loss) |
6 |
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(
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Other interest receivable and similar income |
10 |
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– |
Interest payable and similar expenses |
11 |
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------------ |
------------ |
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Profit/(loss) before taxation |
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(
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Tax on profit/(loss) |
12 |
– |
– |
------------ |
------------ |
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Profit/(loss) for the financial year |
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(
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------------ |
------------ |
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Revaluation of tangible assets |
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– |
------------ |
------------ |
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Total comprehensive income for the year |
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(
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------------ |
------------ |
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Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
£ |
Intangible assets |
13 |
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Tangible assets |
14 |
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------------- |
------------- |
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Stocks |
15 |
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Debtors |
16 |
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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 |
18 |
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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 |
19 |
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Net assets |
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Called up share capital |
22 |
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Revaluation reserve |
23 |
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Capital redemption reserve |
23 |
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Profit and loss account |
23 |
(
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(
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------------- |
------------ |
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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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Note |
£ |
£ |
£ |
£ |
£ |
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At 1 July 2022 |
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(
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Loss for the year |
(
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(
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|||||
---- |
------------ |
------------ |
------------ |
------------ |
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Total comprehensive income for the year |
– |
– |
– |
(
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(
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At 30 June 2023 (as previously reported) |
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|
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(
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Prior period adjustments |
– |
(2,012,334) |
– |
– |
(2,012,334) |
||
---- |
------------ |
------------ |
------------ |
------------ |
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At 30 June 2023 (restated) |
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4,024,669
|
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(
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395,532
|
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---- |
------------ |
------------ |
------------ |
------------ |
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Profit for the year |
|
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Other comprehensive income for the year: |
|||||||
Revaluation of tangible assets |
14 |
– |
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– |
– |
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---- |
------------ |
------------ |
------------ |
------------ |
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Total comprehensive income for the year |
– |
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– |
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---- |
------------- |
------------ |
------------ |
------------ |
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At 30 June 2024 |
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|
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(
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---- |
------------- |
------------ |
------------ |
------------ |
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Statement of Cash Flows |
2024 |
2023 |
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Note |
£ |
£ |
Profit/(loss) for the financial year |
|
(
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Adjustments for: |
||
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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– |
Interest payable and similar expenses |
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(Gains)/loss on disposal of tangible assets |
(
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Gains on disposal of intangible assets |
(
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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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------------ |
------------ |
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Cash generated from operations |
(
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(
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Interest paid |
(
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(
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Interest received |
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– |
------------ |
------------ |
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Net cash used in operating activities |
(
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(
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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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Proceeds from sale of intangible assets |
|
– |
------------ |
------------ |
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Net cash (used in)/from investing activities |
(
|
|
------------ |
------------ |
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Proceeds from borrowings |
|
(
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Proceeds from loans from group undertakings |
(
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(
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Proceeds from loans from participating interests |
|
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Payments of finance lease liabilities |
(
|
|
------------ |
------------ |
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Net cash from/(used in) financing activities |
|
(
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------------ |
------------ |
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Net (decrease)/increase in cash and cash equivalents |
(
|
|
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Cash and cash equivalents at beginning of year |
1,644,406 |
402,982 |
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------------ |
------------ |
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Cash and cash equivalents at end of year |
17 |
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------------ |
------------ |
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Notes to the Financial Statements |
Goodwill |
- |
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Land and buildings |
- |
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Fixtures & Fittings |
- |
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Motor Vehicles |
- |
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|
2024 |
2023 |
|
£ |
£ |
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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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Other operating income |
– |
|
---- |
------- |
|
2024 |
2023 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
|
Depreciation of tangible assets |
|
|
(Gains)/loss on disposal of tangible assets |
(
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|
Gains on disposal of intangible assets |
(
|
– |
Impairment of trade debtors |
– |
(73,642) |
Operating lease rentals |
– |
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
2024 |
2023 |
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No. |
No. |
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Number of Employees |
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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 |
|
£ |
£ |
|
Remuneration |
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-------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
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Interest on cash and cash equivalents |
|
– |
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
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Interest on banks loans and overdrafts |
|
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Interest on obligations under finance leases and hire purchase contracts |
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Other interest payable and similar charges |
|
|
------------ |
------------ |
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|
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|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Profit/(loss) on ordinary activities before taxation |
|
(
|
------------ |
------------ |
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Profit/(loss) on ordinary activities by rate of tax |
– |
(
|
Effect of capital allowances and depreciation |
– |
|
Utilisation of tax losses |
– |
(
|
------------ |
------------ |
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Tax on profit/(loss) |
– |
– |
------------ |
------------ |
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Goodwill |
Licences |
Total |
|
£ |
£ |
£ |
|
Cost |
|||
At 1 July 2023 |
|
|
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Additions |
– |
– |
– |
Disposals of previously acquired businesses |
(
|
– |
(
|
------------ |
--------- |
------------ |
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At 30 June 2024 |
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------------ |
--------- |
------------ |
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Amortisation |
|||
At 1 July 2023 |
|
– |
|
Charge for the year |
|
– |
|
Disposals of previously acquired businesses |
(
|
– |
(
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------------ |
--------- |
------------ |
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At 30 June 2024 |
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– |
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------------ |
--------- |
------------ |
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Carrying amount |
|||
At 30 June 2024 |
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------------ |
--------- |
------------ |
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At 30 June 2023 |
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------------ |
--------- |
------------ |
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Land and buildings |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
|
Cost or valuation |
||||
At 1 July 2023 |
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Additions |
– |
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Revaluations |
|
– |
– |
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------------- |
------------- |
--------- |
------------- |
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At 30 June 2024 |
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------------- |
------------- |
--------- |
------------- |
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Depreciation |
||||
At 1 July 2023 |
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Charge for the year |
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------------- |
------------- |
--------- |
------------- |
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At 30 June 2024 |
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|
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------------- |
------------- |
--------- |
------------- |
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Carrying amount |
||||
At 30 June 2024 |
|
|
|
|
------------- |
------------- |
--------- |
------------- |
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At 30 June 2023 |
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|
|
|
------------- |
------------- |
--------- |
------------- |
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Motor vehicles |
|
£ |
|
At 30 June 2024 |
|
--------- |
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At 30 June 2023 |
|
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Raw materials and consumables |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Prepayments and accrued income |
|
|
Other debtors |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Amounts owed by group undertakings |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Cash at bank and in hand |
|
|
Bank overdrafts |
(
|
(
|
--------- |
------------ |
|
|
|
|
--------- |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Amounts owed to undertakings in which the company has a participating interest |
|
|
Accruals and deferred income |
|
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Social security and other taxes |
|
|
Obligations under finance leases and hire purchase contracts |
|
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Director loan accounts |
|
|
Other creditors |
|
|
------------- |
------------- |
|
|
|
|
------------- |
------------- |
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
------------- |
------------- |
|
|
|
|
------------- |
------------- |
|
2024 |
2023 |
|
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
2024 |
2023 |
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No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
---- |
---- |
---- |
---- |
|
At 1 Jul 2023 |
Cash flows |
At 30 Jun 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(1,353,515) |
|
Bank overdrafts |
(295,727) |
202,394 |
(93,333) |
Debt due within one year |
(11,988,079) |
(2,447,954) |
(14,436,033) |
Debt due after one year |
(12,677,456) |
189,259 |
(12,488,197) |
------------- |
------------ |
------------- |
|
(
|
(
|
(
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|
------------- |
------------ |
------------- |
|
2024 |
2023 |
|
£ |
£ |
|
Not later than 1 year |
– |
|
---- |
-------- |
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Notes to the Financial Statements (continued) |
2024 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
(
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|
(
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– |
– |
– |
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------------ |
--------- |
--------- |
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(
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(
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------------ |
--------- |
--------- |
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2023 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
(
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|
(
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|
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(
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– |
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------------ |
-------- |
------------ |
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(
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(
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------------ |
-------- |
------------ |
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