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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 |
Consolidated statement of income and retained earnings |
10 |
Company statement of income and retained earnings |
11 |
Consolidated statement of financial position |
12 |
Company statement of financial position |
13 |
Consolidated 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 auditor |
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22 Great Victoria Street |
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Belfast |
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BT2 7BA |
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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 auditor |
22 Great Victoria Street |
Belfast |
BT2 7BA |
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Consolidated 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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Distribution costs |
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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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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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Dividends paid and payable |
12 |
(
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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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Company Statement of Income and Retained Earnings |
2024 |
2023 |
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Note |
£ |
£ |
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
12 |
(
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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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Consolidated Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
Tangible assets |
13 |
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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 |
17 |
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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 |
18 |
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Provisions |
20 |
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------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
24 |
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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 |
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Company Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
Tangible assets |
13 |
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Investments |
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 |
17 |
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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 |
18 |
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Provisions |
20 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
24 |
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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 |
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Consolidated Statement of Cash Flows |
2024 |
2023 |
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Note |
£ |
£ |
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Cash generated from operations |
25 |
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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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--------- |
--------- |
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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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Proceeds from sale of tangible assets |
– |
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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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– |
Repayments of borrowings |
(
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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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--------- |
--------- |
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Net cash used in financing activities |
(
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(
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--------- |
--------- |
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Net increase/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
1,191,709 |
1,921,166 |
------------ |
------------ |
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Cash and cash equivalents at end of year |
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------------ |
------------ |
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Notes to the Financial Statements |
Freehold property |
- |
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Long leasehold property |
- |
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Plant and machinery |
- |
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Fixtures and 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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United Kingdom |
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Overseas |
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------------ |
------------ |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Rental income |
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Government grant income |
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Other operating income |
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– |
--------- |
--------- |
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--------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Depreciation of tangible assets |
|
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Gains on disposal of tangible assets |
– |
(
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Impairment of trade debtors |
147 |
6,989 |
Foreign exchange differences |
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Fees payable for the audit of the financial statements |
|
|
--------- |
--------- |
|
2024 |
2023 |
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No. |
No. |
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Production staff |
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Distribution staff |
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Management staff |
15 |
18 |
---- |
---- |
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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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Company contributions to defined contribution pension plans |
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--------- |
--------- |
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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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Interest on bank deposits |
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-------- |
------- |
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2024 |
2023 |
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£ |
£ |
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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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Interest on overdue taxation |
– |
|
--------- |
-------- |
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--------- |
-------- |
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2024 |
2023 |
|
£ |
£ |
|
UK current tax expense |
|
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Adjustments in respect of prior periods |
|
– |
--------- |
--------- |
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Total current tax |
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--------- |
--------- |
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Origination and reversal of timing differences |
(
|
(
|
--------- |
-------- |
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Tax on profit |
|
|
--------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
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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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Adjustment to tax charge in respect of prior periods |
|
– |
Effect of expenses not deductible for tax purposes |
|
– |
Effect of capital allowances and depreciation |
|
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Effect of revenue exempt from tax |
(
|
(
|
Effect of different UK tax rates on some earnings |
– |
(5,406) |
Unused tax losses |
|
– |
Effect of research and development credits |
– |
(
|
--------- |
--------- |
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Tax on profit |
|
|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
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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Group and company |
Freehold property |
Long leasehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Jul 2023 |
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Additions |
– |
– |
|
– |
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Disposals |
– |
(
|
(
|
(
|
(
|
(
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------------ |
--------- |
------------ |
--------- |
--------- |
------------- |
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At 30 Jun 2024 |
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------------ |
--------- |
------------ |
--------- |
--------- |
------------- |
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Depreciation |
||||||
At 1 Jul 2023 |
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Charge for the year |
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Disposals |
– |
(
|
(
|
(
|
(
|
(
|
------------ |
--------- |
------------ |
--------- |
--------- |
------------- |
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At 30 Jun 2024 |
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------------ |
--------- |
------------ |
--------- |
--------- |
------------- |
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Carrying amount |
||||||
At 30 Jun 2024 |
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------------ |
--------- |
------------ |
--------- |
--------- |
------------- |
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At 30 Jun 2023 |
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------------ |
--------- |
------------ |
--------- |
--------- |
------------- |
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Group and company |
Plant and machinery |
Motor vehicles |
Total |
£ |
£ |
£ |
|
At 30 June 2024 |
|
|
|
-------- |
------- |
-------- |
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At 30 June 2023 |
|
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|
--------- |
------- |
--------- |
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Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 July 2023 and 30 June 2024 |
|
---- |
|
Impairment |
|
At 1 July 2023 and 30 June 2024 |
– |
---- |
|
Carrying amount |
|
At 1 July 2023 and 30 June 2024 |
|
---- |
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At 30 June 2023 |
|
---- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
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Ordinary |
100 |
Capital and reserves |
Profit/(loss) for the year |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Subsidiary undertakings |
||||
|
(984) |
87 |
(
|
– |
---- |
---- |
------- |
---- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Work in progress |
|
|
|
|
Finished goods and goods for resale |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
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|
------------ |
------------ |
------------ |
------------ |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
|
|
Amounts owed by group undertakings |
– |
– |
|
|
Prepayments and accrued income |
|
|
|
|
Other debtors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
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|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Debenture loans |
|
|
|
|
Bank loans and overdrafts |
|
|
|
|
Trade creditors |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Corporation tax |
|
|
|
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Social security and other taxes |
|
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
|
Director loan accounts |
|
|
|
|
Other creditors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
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|
------------ |
------------ |
------------ |
------------ |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Debenture loans |
|
|
|
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Bank loans and overdrafts |
|
|
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Accruals and deferred income |
|
|
|
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Obligations under finance leases and hire purchase contracts |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
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|
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|
------------ |
------------ |
------------ |
------------ |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
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Later than 1 year and not later than 5 years |
|
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|
|
-------- |
-------- |
-------- |
-------- |
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|
-------- |
-------- |
-------- |
-------- |
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Group and company |
Deferred tax (note 21) |
Other provisions |
Total |
£ |
£ |
£ |
|
At 1 July 2023 |
|
|
|
Additions |
(
|
– |
(
|
--------- |
--------- |
--------- |
|
At 30 June 2024 |
|
|
|
--------- |
--------- |
--------- |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 20) |
|
|
|
|
-------- |
--------- |
-------- |
--------- |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
|
|
Pension plan obligations |
(
|
– |
(
|
– |
-------- |
--------- |
-------- |
--------- |
|
86,744 |
101,093 |
86,744 |
101,093 |
|
-------- |
--------- |
-------- |
--------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Deferred government grants due after more than one year |
|
|
|
|
------- |
------- |
------- |
------- |
|
Government grants released to profit or loss |
|
|
|
|
---- |
---- |
---- |
---- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100,002 |
|
100,002 |
--------- |
--------- |
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Government grant income |
(
|
(
|
Other interest receivable and similar income |
(
|
(
|
Interest payable and similar expenses |
|
|
Gains on disposal of tangible assets |
– |
(
|
Tax on profit |
|
|
Accrued (income)/expenses |
(
|
|
Changes in: |
||
Stocks |
|
(
|
Trade and other debtors |
|
|
Trade and other creditors |
(
|
(
|
Provisions and employee benefits |
– |
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
At 1 Jul 2023 |
Cash flows |
At 30 Jun 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
171,370 |
|
Debt due within one year |
(230,662) |
(5,620) |
(236,282) |
Debt due after one year |
(1,216,600) |
213,624 |
(1,002,976) |
------------ |
--------- |
------------ |
|
(
|
|
|
|
------------ |
--------- |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
|
|
Later than 1 year and not later than 5 years |
|
|
|
|
Later than 5 years |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
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------------ |
------------ |
------------ |
------------ |
|
|
Notes to the Financial Statements (continued) |