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FINANCIAL STATEMENTS |
Contents |
Pages |
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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 auditor |
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35 Westgate |
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Huddersfield |
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HD1 1PA |
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Bankers |
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10 Market Place |
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Bradford |
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BD1 1XW |
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STRATEGIC REPORT |
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Director |
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DIRECTORS' REPORT |
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(Appointed
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Director |
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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 |
35 Westgate |
Huddersfield |
HD1 1PA |
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CONSOLIDATED PROFIT AND LOSS ACCOUNT |
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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(
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Operating profit |
5 |
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Other interest receivable and similar income |
9 |
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Interest payable and similar expenses |
10 |
(
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(
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Profit before taxation |
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Tax on profit |
11 |
(
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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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CONSOLIDATED BALANCE SHEET |
2024 |
2023 |
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Note |
£ |
£ |
Intangible assets |
13 |
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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 |
18 |
(
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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 |
19 |
(
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(
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Provisions |
21 |
(
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(
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Net assets |
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Called up share capital |
25 |
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Profit and loss account |
26 |
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Shareholders funds |
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Director |
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BALANCE SHEET |
2024 |
2023 |
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Note |
£ |
£ |
Intangible assets |
13 |
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Tangible assets |
14 |
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Investments |
15 |
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------------ |
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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 |
18 |
(
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(
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Net current assets |
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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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(
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Provisions |
21 |
(
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(
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Net assets |
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Called up share capital |
25 |
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Profit and loss account |
26 |
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Shareholders funds |
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Director |
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 April 2022 |
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Profit for the year |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
12 |
– |
(
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(
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Total investments by and distributions to owners |
– |
(
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(
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At 31 March 2023 |
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Profit for the year |
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------------ |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
12 |
– |
(
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(
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Total investments by and distributions to owners |
– |
(
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(
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At 31 March 2024 |
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COMPANY STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 April 2022 |
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Profit for the year |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
12 |
– |
(
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(
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Total investments by and distributions to owners |
– |
(
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(
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At 31 March 2023 |
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Profit for the year |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
12 |
– |
(
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(
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Total investments by and distributions to owners |
– |
(
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(
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At 31 March 2024 |
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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 |
197,863 |
146,069 |
Amortisation of intangible assets |
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Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
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Gains on disposal of tangible assets |
(
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(
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Unrealised foreign currency gains |
(4,022) |
– |
Tax on profit |
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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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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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Net cash (used in)/from operating activities |
(
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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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Purchase of futures contracts, forward contracts, option contracts and swap contracts |
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– |
------------ |
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Net cash used in investing activities |
(
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(
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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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Net cash used in financing activities |
(
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(
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Net decrease in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
2,977,476 |
3,120,429 |
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Cash and cash equivalents at end of year |
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NOTES TO THE FINANCIAL STATEMENTS |
Goodwill |
- |
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Intellectual Property Rights |
- |
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Short Leasehold Property |
- |
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Plant & Machinery |
- |
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Fixtures & Fittings |
- |
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Motor Vehicles |
- |
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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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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Gains on disposal of tangible assets |
(
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(
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Impairment of trade debtors |
107,716 |
71,562 |
Operating lease rentals |
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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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£ |
£ |
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Fees payable for the audit of the financial statements |
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------------ |
------------ |
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2024 |
2023 |
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No. |
No. |
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Distribution staff |
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Administrative staff |
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------------ |
------------ |
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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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2024 |
2023 |
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£ |
£ |
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Remuneration |
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Company contributions to defined contribution pension plans |
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------------ |
------------ |
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2024 |
2023 |
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No. |
No. |
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Defined contribution plans |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Aggregate remuneration |
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Company contributions to defined contribution pension plans |
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------------ |
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2024 |
2023 |
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£ |
£ |
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Interest on cash and cash equivalents |
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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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Loss on financial instruments |
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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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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 timing differences in respect of fixed assets |
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(
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Deferred tax not recognised |
(
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Change in deferred tax rates |
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(
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Trading losses brought forward |
(
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(
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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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Equity dividends on ordinary shares |
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------------ |
------------ |
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Group |
Goodwill |
Intellectual property rights |
Total |
£ |
£ |
£ |
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Cost |
|||
At 1 April 2023 and 31 March 2024 |
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------------ |
------------ |
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Amortisation |
|||
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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Company |
Goodwill |
Intellectual property rights |
Total |
£ |
£ |
£ |
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Cost |
|||
At 1 April 2023 and 31 March 2024 |
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------------ |
------------ |
------------ |
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Amortisation |
|||
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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Group |
Short leasehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
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Cost |
|||||
At 1 April 2023 |
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Additions |
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Disposals |
– |
(
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– |
(
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(
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Transfers |
– |
|
(
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– |
(
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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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Disposals |
– |
(
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– |
(
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(
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Transfers |
– |
|
(
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– |
(
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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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676,274
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------------ |
------------ |
------------ |
------------ |
------------ |
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Company |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
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Cost |
||||
At 1 April 2023 |
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Additions |
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Disposals |
(
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– |
(
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(
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Transfers |
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(
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– |
(
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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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Disposals |
(
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– |
(
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(
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Transfers |
|
(
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– |
(
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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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Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 April 2023 and 31 March 2024 |
|
------------ |
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Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
------------ |
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Carrying amount |
|
At 1 April 2023 and 31 March 2024 |
|
------------ |
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At 31 March 2023 |
|
------------ |
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Registered office |
Class of share |
Percentage of shares held |
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Subsidiary undertakings |
|||
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Unit 1, River Street, Brighouse, West Yorkshire, HD6 1LU |
£1 Ordinary |
100 |
|
60 Constitution Street, Edinburgh, Scotland, EH6 6RR |
£1 Ordinary |
100 |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Goods for resale |
|
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
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Amounts owed by group undertakings |
– |
– |
|
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Prepayments and accrued income |
|
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Derivative financial assets |
|
– |
|
– |
Other debtors |
|
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------------ |
------------ |
------------ |
------------ |
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade creditors |
|
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Accruals and deferred income |
|
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Social security and other taxes |
|
|
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Obligations under finance leases and hire purchase contracts |
|
|
|
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Derivative financial liability |
|
– |
|
– |
Directors loan account |
|
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Other creditors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
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 22) |
£ |
|
At 1 April 2023 |
|
Additions |
|
------------ |
|
At 31 March 2024 |
|
------------ |
|
Company |
Deferred tax (note 22) |
£ |
|
At 1 April 2023 |
|
Additions |
|
------------ |
|
At 31 March 2024 |
|
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 21) |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Financial assets measured at fair value through profit or loss |
1,070,343 |
– |
1,070,343 |
– |
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Financial liabilities measured at fair value through profit or loss |
1,074,365 |
– |
1,074,365 |
– |
------------ |
------------ |
------------ |
------------ |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
88 |
|
88 |
|
|
1 |
|
1 |
|
|
6 |
|
6 |
|
|
5 |
|
5 |
------------ |
------------ |
------------ |
------------ |
|
|
100 |
|
100 |
|
------------ |
------------ |
------------ |
------------ |
|
At 1 Apr 2023 |
Cash flows |
At 31 Mar 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(771,497) |
|
Debt due within one year |
(50,365) |
– |
(50,365) |
Debt due after one year |
(62,956) |
50,366 |
(12,590) |
------------ |
------------ |
------------ |
|
|
(
|
|
|
------------ |
------------ |
------------ |
|
|
NOTES TO THE FINANCIAL STATEMENTS (continued) |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
|
|
Later than 1 year and not later than 5 years |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
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|
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------------ |
------------ |
------------ |
------------ |
|