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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
2 |
Independent auditor's report to the members |
4 |
Statement of income and retained earnings |
9 |
Statement of financial position |
10 |
Statement of cash flows |
11 |
Notes to the financial statements |
12 |
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Strategic Report |
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Director |
Director |
Registered office: |
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Directors' Report |
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(Appointed
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Director |
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 |
Aisling House |
50 Stranmillis Embankment |
Belfast |
BT9 5FL |
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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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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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Interest payable and similar expenses |
9 |
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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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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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------------ |
------------ |
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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 |
17 |
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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 |
18 |
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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 |
Director |
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Statement of Cash Flows |
2024 |
2023 |
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Note |
£ |
£ |
Profit for the financial year |
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Adjustments for: |
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Depreciation of tangible assets |
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Amortisation of intangible assets |
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Government grant income |
(
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(
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Interest payable and similar expenses |
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Tax on profit |
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Accrued (income)/expenses |
(
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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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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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------------ |
--------- |
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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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(
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Government grant income |
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Payments of finance lease liabilities |
– |
(
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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 |
937,094 |
260,489 |
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------------ |
--------- |
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Cash and cash equivalents at end of year |
16 |
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------------ |
--------- |
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Notes to the Financial Statements |
Goodwill |
- |
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Long leasehold property |
- |
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Plant and machinery |
- |
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|
2024 |
2023 |
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£ |
£ |
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Sale of goods |
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------------- |
------------- |
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2024 |
2023 |
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£ |
£ |
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United Kingdom |
1,803,199 |
1,915,033 |
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USA |
1,817,131 |
5,702,667 |
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Europe |
7,675,874 |
4,522,806 |
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Africa |
1,791,495 |
1,467,045 |
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Asia |
915,085 |
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------------- |
------------- |
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14,002,784 |
13,607,551 |
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------------- |
------------- |
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2024 |
2023 |
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£ |
£ |
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Government grant income |
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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Foreign exchange differences |
(
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(
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--------- |
--------- |
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2024 |
2023 |
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No. |
No. |
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Production staff |
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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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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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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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--------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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UK current tax expense |
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Origination and reversal of timing differences |
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--------- |
--------- |
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Tax on 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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Effect of expenses not deductible for tax purposes |
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– |
Effect of capital allowances and depreciation |
(
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Movement in provision for deferred taxation |
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--------- |
--------- |
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Tax on profit |
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--------- |
--------- |
|
2024 |
2023 |
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£ |
£ |
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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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Goodwill |
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£ |
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Cost |
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At 1 April 2023 and 31 March 2024 |
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--------- |
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Amortisation |
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At 1 April 2023 |
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Charge for the year |
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--------- |
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At 31 March 2024 |
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--------- |
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Carrying amount |
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At 31 March 2024 |
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--------- |
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At 31 March 2023 |
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--------- |
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Freehold property |
Long leasehold property |
Plant and machinery |
Total |
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£ |
£ |
£ |
£ |
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Cost |
||||
At 1 April 2023 |
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Additions |
– |
– |
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------------ |
--------- |
------------ |
------------ |
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At 31 March 2024 |
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------------ |
--------- |
------------ |
------------ |
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Depreciation |
||||
At 1 April 2023 |
– |
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Charge for the year |
– |
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------------ |
--------- |
------------ |
------------ |
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At 31 March 2024 |
– |
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------------ |
--------- |
------------ |
------------ |
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Carrying amount |
||||
At 31 March 2024 |
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------------ |
--------- |
------------ |
------------ |
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At 31 March 2023 |
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------------ |
--------- |
------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Finished goods and goods for resale |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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------------ |
------------ |
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------------ |
------------ |
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2024 |
2023 |
|
£ |
£ |
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Cash at bank and in hand |
|
|
Bank overdrafts |
(
|
(
|
------------ |
------------ |
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|
|
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------------ |
------------ |
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2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
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Trade creditors |
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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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Director loan accounts |
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------------ |
------------ |
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------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
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Bank loans and overdrafts |
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Accruals and deferred income |
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--------- |
--------- |
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--------- |
--------- |
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Deferred tax (note 20) |
|
£ |
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At 1 April 2023 |
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Additions |
(
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Charge against provision |
|
--------- |
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At 31 March 2024 |
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--------- |
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2024 |
2023 |
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£ |
£ |
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Included in provisions (note 19) |
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--------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Accelerated capital allowances |
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--------- |
--------- |
|
2024 |
2023 |
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£ |
£ |
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Deferred government grants due within one year |
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Deferred government grants due after more than one year |
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--------- |
--------- |
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--------- |
--------- |
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Government grants released to profit or loss |
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-------- |
-------- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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74,002 |
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74,002 |
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6,000 |
|
6,000 |
-------- |
-------- |
-------- |
-------- |
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-------- |
-------- |
-------- |
-------- |
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At 1 Apr 2023 |
Cash flows |
At 31 Mar 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
546,458 |
|
Bank overdrafts |
(737,505) |
535,353 |
(202,152) |
Debt due within one year |
(562,790) |
101,580 |
(461,210) |
Debt due after one year |
(598,021) |
68,964 |
(529,057) |
------------ |
------------ |
------------ |
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(
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------------ |
------------ |
------------ |
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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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(
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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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--------- |
-------- |
--------- |
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