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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
3 |
Directors' report |
6 |
Independent auditor's report to the member |
8 |
Consolidated statement of comprehensive income |
13 |
Consolidated statement of financial position |
14 |
Company statement of financial position |
15 |
Consolidated statement of changes in equity |
16 |
Company statement of changes in equity |
17 |
Consolidated statement of cash flows |
18 |
Notes to the financial statements |
19 |
|
Officers and Professional Advisers |
The board of directors |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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Aisling House |
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50 Stranmillis Embankment |
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Belfast |
|
BT9 5FL |
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Bankers |
|
8 Wimpole Street |
|
London |
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United Kingdom |
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W1G 9SP |
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1601 Washington Avenue |
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Suite 800 |
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Miami Beach |
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FL33139 |
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United States of America |
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11-16 Donegall Square East |
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Belfast |
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BT1 5UB |
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Benmore House |
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353 Lisburn Road |
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Belfast |
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BT9 7EP |
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Allied Irish Bank |
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92 Ann Street |
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Belfast |
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BT1 3AY |
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Solicitors |
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Jefferson House |
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42 Queen Street |
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Belfast |
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BT1 6HL |
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Marlborough House |
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30 Victoria Street |
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Belfast |
|
BT1 3GG |
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Strategic Report |
|
Director |
Registered office: |
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Directors' Report |
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(Appointed
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Director |
Registered office: |
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Independent Auditor's Report to the Member of
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered accountants & statutory auditor |
Aisling House |
50 Stranmillis Embankment |
Belfast |
BT9 5FL |
|
Consolidated Statement of Comprehensive Income |
2024 |
2023 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
|
|
------------- |
------------- |
|
Gross profit |
|
|
Administrative expenses |
|
|
|
Other operating income |
5 |
|
|
------------- |
------------- |
||
Operating profit/(loss) |
6 |
|
(
|
Other interest receivable and similar income |
10 |
|
|
Interest payable and similar expenses |
11 |
|
|
------------- |
------------- |
||
Loss before taxation |
(
|
(
|
|
Tax on loss |
12 |
|
(
|
------------ |
------------ |
||
Loss for the financial year |
(
|
(
|
|
------------ |
------------ |
||
Revaluation of tangible assets |
|
– |
------------- |
------------ |
|
Total comprehensive income for the year |
|
(
|
------------- |
------------ |
|
|
Consolidated Statement of Financial Position |
2024 |
2023 |
|
Note |
£ |
£ |
Intangible assets |
13 |
|
|
Tangible assets |
14 |
|
|
-------------- |
-------------- |
||
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Stocks |
16 |
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Debtors |
17 |
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|
Cash at bank and in hand |
|
|
|
------------- |
------------- |
||
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||
Creditors: amounts falling due within one year |
19 |
|
|
------------- |
------------- |
||
Net current liabilities |
|
|
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-------------- |
-------------- |
||
Total assets less current liabilities |
|
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Creditors: amounts falling due after more than one year |
20 |
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Provisions |
22 |
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-------------- |
-------------- |
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Net assets |
|
|
|
-------------- |
-------------- |
||
Called up share capital |
25 |
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Revaluation reserve |
26 |
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Other reserves, including the fair value reserve |
26 |
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|
Profit and loss account |
26 |
|
|
------------- |
------------- |
||
Shareholder funds |
|
|
|
------------- |
------------- |
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|
Director |
|
Company Statement of Financial Position |
2024 |
2023 |
|
Note |
£ |
£ |
Investments |
15 |
|
|
Debtors |
17 |
|
|
Creditors: amounts falling due within one year |
19 |
|
|
------------ |
------------ |
||
Net current assets |
|
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
|
|
------------ |
------------ |
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Called up share capital |
25 |
|
|
Profit and loss account |
26 |
|
|
------------ |
------------ |
||
Shareholder funds |
|
|
|
------------ |
------------ |
||
|
Director |
|
Consolidated Statement of Changes in Equity |
Called up share capital |
Revaluation reserve |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
|||
Note |
£ |
£ |
£ |
£ |
£ |
||
At 1 July 2022 |
|
|
|
|
|
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Loss for the year |
(
|
(
|
|||||
---- |
------------- |
------------ |
------------- |
------------- |
|||
Total comprehensive income for the year |
– |
– |
– |
(
|
(
|
||
At 30 June 2023 (as previously reported) |
|
|
|
|
|
||
Prior period adjustments |
– |
(2,012,334) |
– |
– |
(2,012,334) |
||
---- |
------------- |
------------ |
------------- |
------------- |
|||
At 30 June 2023 (restated) |
|
8,409,100
|
|
|
33,602,040
|
||
---- |
------------- |
------------ |
------------- |
------------- |
|||
Loss for the year |
(
|
(
|
|||||
Other comprehensive income for the year: |
|||||||
Revaluation of tangible assets |
14 |
– |
|
– |
– |
|
|
---- |
------------- |
------------ |
------------- |
------------- |
|||
Total comprehensive income for the year |
– |
|
– |
(
|
|
||
---- |
------------- |
------------ |
------------- |
------------- |
|||
At 30 June 2024 |
|
|
|
|
|
||
---- |
------------- |
------------ |
------------- |
------------- |
|||
|
Company Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
|
£ |
£ |
£ |
|
At 1 July 2022 |
|
|
|
Profit for the year |
|
|
|
---- |
------------ |
------------ |
|
Total comprehensive income for the year |
– |
|
|
At 30 June 2023 |
|
|
|
Profit for the year |
|
|
|
---- |
------------ |
------------ |
|
Total comprehensive income for the year |
– |
|
|
---- |
------------ |
------------ |
|
At 30 June 2024 |
|
|
|
---- |
------------ |
------------ |
|
|
Consolidated Statement of Cash Flows |
2024 |
2023 |
|
Note |
£ |
£ |
Loss for the financial year |
(
|
(
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Amortisation of intangible assets |
|
|
Fair value adjustment of investment property |
– |
|
Other interest receivable and similar income |
(
|
(
|
Interest payable and similar expenses |
|
|
(Gains)/loss on disposal of tangible assets |
(
|
|
Gains on disposal of intangible assets |
(
|
– |
Tax on profit |
|
(
|
Accrued expenses/(income) |
|
(
|
Changes in: |
||
Stocks |
|
|
Trade and other debtors |
(
|
(
|
Trade and other creditors |
(
|
|
------------ |
------------- |
|
Cash generated from operations |
|
|
Interest paid |
(
|
(
|
Interest received |
|
|
------------ |
------------- |
|
Net cash from operating activities |
|
|
------------ |
------------- |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
|
|
Proceeds from sale of intangible assets |
|
– |
------------ |
------------- |
|
Net cash (used in)/from investing activities |
(
|
|
------------ |
------------- |
|
Proceeds from borrowings |
|
(
|
Proceeds from loans from participating interests |
|
|
Payments of finance lease liabilities |
(
|
|
------------ |
------------- |
|
Net cash from/(used in) financing activities |
|
(
|
------------ |
------------- |
|
Net (decrease)/increase in cash and cash equivalents |
(
|
|
|
Cash and cash equivalents at beginning of year |
5,033,000 |
3,421,543 |
|
------------ |
------------ |
||
Cash and cash equivalents at end of year |
18 |
|
|
------------ |
------------ |
||
|
Notes to the Financial Statements |
Goodwill |
- |
|
|
Franchise Licences |
- |
None
|
|
Land and buildings |
- |
|
|
Plant and machinery |
- |
|
|
Fixtures, fittings and equipment |
- |
|
|
Motor vehicles |
- |
|
|
2024 |
2023 |
|
£ |
£ |
|
Property sales |
|
|
Rent receivable |
|
|
Hotel income |
|
|
Warehousing & storage handling |
|
|
Golf course income |
|
|
Gym & Spa income |
|
|
------------- |
------------- |
|
|
|
|
------------- |
------------- |
|
2024 |
2023 |
|
£ |
£ |
|
Other operating income |
|
|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
|
Depreciation of tangible assets |
|
|
(Gains)/loss on disposal of tangible assets |
(
|
|
Gains on disposal of intangible assets |
(
|
– |
Fair value adjustments to investment property |
– |
|
Impairment of trade debtors |
7,532 |
88,190 |
Foreign exchange differences |
– |
(
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
No. |
No. |
|
Number of other staff |
|
|
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Fair value adjustment in respect of investment properties |
– |
|
– |
– |
---- |
------------ |
---- |
---- |
|
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 |
|
|
Other interest payable and similar charges |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Origination and reversal of timing differences |
|
(
|
--------- |
--------- |
|
Tax on profit |
|
(
|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Loss on ordinary activities before taxation |
(
|
(
|
--------- |
------------ |
|
Loss on ordinary activities by rate of tax |
(
|
(
|
Effect of expenses not deductible for tax purposes |
(
|
|
Effect of capital allowances and depreciation |
|
|
Utilisation of tax losses |
(
|
(
|
Unused tax losses |
|
|
Movement in deferred tax |
|
(
|
--------- |
------------ |
|
Tax on profit |
|
(
|
--------- |
------------ |
|
Group |
Goodwill |
Franchise licences |
Alcohol licences |
Total |
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 July 2023 |
|
|
|
|
Disposals of previously acquired businesses |
(
|
– |
– |
(
|
------------ |
-------- |
--------- |
------------ |
|
At 30 June 2024 |
|
|
|
|
------------ |
-------- |
--------- |
------------ |
|
Amortisation |
||||
At 1 July 2023 |
|
– |
– |
|
Charge for the year |
|
– |
– |
|
Disposals of previously acquired businesses |
(
|
– |
– |
(
|
------------ |
-------- |
--------- |
------------ |
|
At 30 June 2024 |
|
– |
– |
|
------------ |
-------- |
--------- |
------------ |
|
Carrying amount |
||||
At 30 June 2024 |
|
|
|
|
------------ |
-------- |
--------- |
------------ |
|
At 30 June 2023 |
|
|
|
|
------------ |
-------- |
--------- |
------------ |
|
Group |
Investment property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
|
Cost |
|||||
At 1 July 2023 |
|
|
|
|
|
Additions |
|
– |
|
|
|
Disposals |
(
|
– |
– |
(
|
(
|
Revaluations |
|
– |
– |
– |
|
-------------- |
--------- |
------------- |
------------ |
-------------- |
|
At 30 June 2024 |
|
|
|
|
|
-------------- |
--------- |
------------- |
------------ |
-------------- |
|
Depreciation |
|||||
At 1 July 2023 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Disposals |
– |
– |
– |
(
|
(
|
-------------- |
--------- |
------------- |
------------ |
-------------- |
|
At 30 June 2024 |
|
|
|
|
|
-------------- |
--------- |
------------- |
------------ |
-------------- |
|
Carrying amount |
|||||
At 30 June 2024 |
|
|
|
|
|
-------------- |
--------- |
------------- |
------------ |
-------------- |
|
At 30 June 2023 |
|
|
|
|
|
-------------- |
--------- |
------------- |
------------ |
-------------- |
|
Group |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
£ |
£ |
£ |
|
At 30 June 2024 |
|
|
|
--------- |
--------- |
--------- |
|
At 30 June 2023 |
|
|
|
--------- |
--------- |
--------- |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 July 2023 |
|
Additions |
|
---- |
|
At 30 June 2024 |
|
---- |
|
Impairment |
|
At 1 July 2023 and 30 June 2024 |
– |
---- |
|
Carrying amount |
|
At 30 June 2024 |
|
---- |
|
At 30 June 2023 |
|
---- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Development land |
|
|
– |
– |
Work in progress |
|
|
– |
– |
Finished goods and goods for resale |
|
|
– |
– |
------------ |
------------ |
---- |
---- |
|
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Amounts owed by group undertakings |
– |
– |
|
|
Amounts owed by related parties |
|
|
– |
– |
Prepayments and accrued income |
|
|
– |
– |
Other debtors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Amounts owed by related parties |
|
|
– |
– |
------------ |
------------ |
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Cash at bank and in hand |
|
|
Bank overdrafts |
(
|
(
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Trade creditors |
|
|
– |
– |
Amounts owed to related parties |
|
|
– |
– |
Accruals and deferred income |
|
|
– |
– |
Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
|
– |
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
Director loan accounts |
|
|
– |
– |
Other creditors |
|
|
|
|
------------- |
------------- |
---- |
---- |
|
|
|
|
|
|
------------- |
------------- |
---- |
---- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Amounts owed to related parties |
|
|
– |
– |
Accruals and deferred income |
|
|
– |
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
Other creditors |
– |
|
– |
– |
-------------- |
-------------- |
---- |
---- |
|
|
|
– |
– |
|
-------------- |
-------------- |
---- |
---- |
|
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 23) |
£ |
|
At 1 July 2023 |
|
Additions |
|
------------ |
|
At 30 June 2024 |
|
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 22) |
|
|
– |
– |
------------ |
------------ |
---- |
---- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
Revaluation of tangible assets |
|
|
– |
– |
Unused tax losses |
(
|
(
|
– |
– |
------------ |
------------ |
---- |
---- |
|
2,201,378 |
1,516,466 |
– |
– |
|
------------ |
------------ |
---- |
---- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
300 |
|
300 |
---- |
---- |
---- |
---- |
|
At 1 Jul 2023 |
Cash flows |
At 30 Jun 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(1,480,193) |
|
Bank overdrafts |
(295,727) |
202,394 |
(93,333) |
Debt due within one year |
(5,029,860) |
(1,252,725) |
(6,282,585) |
Debt due after one year |
(114,441,419) |
(1,948,386) |
(116,389,805) |
-------------- |
------------ |
-------------- |
|
(
|
(
|
(
|
|
-------------- |
------------ |
-------------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
– |
|
– |
– |
---- |
-------- |
---- |
---- |
|
|
Notes to the Financial Statements (continued) |
2024 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
(
|
(
|
(
|
|
------------ |
-------- |
------------ |
||
2023 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
(
|
(
|
(
|
|
------------ |
--------- |
------------ |
||