|
|
|
|
Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
4 |
Independent auditor's report to the members |
6 |
Statement of comprehensive income |
10 |
Statement of financial position |
11 |
Statement of changes in equity |
13 |
Statement of cash flows |
14 |
Notes to the financial statements |
15 |
|
Strategic Report |
2024 | 2023 | ||
£ | £ | ||
Turnover | 27,202,233 | 18,093,848 | |
Gross profit | 5,201,627 | 3,778,001 | |
Gross profit margin % | 19 | 21 | |
Net profit margin (before tax) % | 13 | 15 | |
|
|
Director |
Director |
|
|
Director |
|
Registered office: |
|
|
|
|
|
|
Directors' Report |
|
|
|
|
|
|
|
(Resigned
|
|
|
Director |
Director |
|
|
Director |
|
Registered office: |
|
|
|
|
|
|
Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered accountants & statutory auditor |
Camburgh House |
27 New Dover Road |
Canterbury |
Kent |
CT1 3DN |
|
Statement of Comprehensive Income |
Period from |
Period from |
||
1 Jun 23 to |
1 Jul 22 to |
||
7 Jul 24 |
31 May 23 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
|
|
------------- |
------------- |
|
Gross profit |
|
|
Administrative expenses |
|
|
|
Other operating income |
5 |
|
– |
------------ |
------------ |
||
Operating profit |
6 |
|
|
Other interest receivable and similar income |
10 |
|
|
Interest payable and similar expenses |
11 |
|
|
------------ |
------------ |
||
Profit before taxation |
|
|
|
Tax on profit |
12 |
|
|
------------ |
------------ |
||
Profit for the financial period and total comprehensive income |
|
|
|
------------ |
------------ |
||
|
Statement of Financial Position |
7 Jul 24 |
31 May 23 |
||
Note |
£ |
£ |
£ |
Tangible assets |
14 |
|
|
|
Stocks |
15 |
|
|
|
Debtors |
16 |
|
|
|
Cash at bank and in hand |
|
|
||
------------ |
------------ |
|||
|
|
|||
Creditors: amounts falling due within one year |
17 |
|
|
|
------------ |
------------ |
|||
Net current assets |
|
|
||
------------- |
------------- |
|||
Total assets less current liabilities |
|
|
||
Creditors: amounts falling due after more than one year |
18 |
|
|
|
Taxation including deferred tax |
20 |
|
|
|
Other provisions |
20 |
|
– |
|
------------ |
------------ |
|||
2,649,488 |
1,822,114 |
|||
------------- |
------------- |
|||
Net assets |
|
|
||
------------- |
------------- |
|||
Called up share capital |
23 |
|
|
|
Profit and loss account |
24 |
|
|
|
------------ |
------------ |
|||
Shareholders funds |
|
|
||
------------ |
------------ |
|||
|
Statement of Financial Position (continued) |
|
|
Director |
Director |
|
|
Director |
|
|
Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
||
£ |
£ |
£ |
||
At 1 July 2022 |
|
|
|
|
Profit for the period |
|
|
||
---- |
------------ |
------------ |
||
Total comprehensive income for the period |
– |
|
|
|
Dividends paid and payable |
13 |
– |
(
|
(
|
---- |
------------ |
------------ |
||
Total investments by and distributions to owners |
– |
(
|
(
|
|
At 31 May 2023 |
|
|
|
|
Profit for the period |
|
|
||
---- |
------------ |
------------ |
||
Total comprehensive income for the period |
– |
|
|
|
Dividends paid and payable |
13 |
– |
(
|
(
|
---- |
------------ |
------------ |
||
Total investments by and distributions to owners |
– |
(
|
(
|
|
---- |
------------ |
------------ |
||
At 7 July 2024 |
|
|
|
|
---- |
------------ |
------------ |
||
|
Statement of Cash Flows |
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Profit for the financial period |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Other interest receivable and similar income |
(
|
(
|
Interest payable and similar expenses |
|
|
Gains on disposal of tangible assets |
(
|
(
|
Tax on profit |
|
|
Accrued expenses/(income) |
|
(
|
Changes in: |
||
Stocks |
(
|
– |
Trade and other debtors |
(
|
|
Trade and other creditors |
|
(
|
Provisions and employee benefits |
|
– |
------------ |
------------ |
|
Cash generated from operations |
|
|
Interest paid |
(
|
(
|
Interest received |
|
|
------------ |
------------ |
|
Net cash from operating activities |
|
|
------------ |
------------ |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
|
|
------------ |
------------ |
|
Net cash used in investing activities |
(
|
(
|
------------ |
------------ |
|
Proceeds from/(repayment of) borrowings |
(
|
|
Proceeds from/(repayment of) loans from group undertakings |
(
|
(
|
Proceeds from/(repayment of) finance leases |
(
|
|
Dividends paid |
(
|
(
|
------------ |
------------ |
|
Net cash used in financing activities |
(
|
(
|
------------ |
------------ |
|
Net increase in cash and cash equivalents |
|
|
Cash and cash equivalents at beginning of period |
1,479,895 |
215,114 |
------------ |
------------ |
|
Cash and cash equivalents at end of period |
|
|
------------ |
------------ |
|
|
Notes to the Financial Statements |
Plant and machinery |
- |
|
|
Fixtures and fittings |
- |
|
|
Motor vehicles |
- |
|
|
Period from |
Period from |
|
1 Jun 23 to |
1 Jul 22 to |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Rendering of services |
|
|
------------- |
------------- |
|
2024 |
2023 |
||
£ |
£ |
||
United Kingdom |
27,202,233 |
18,093,848 |
|
Period from |
Period from |
|
1 Jun 23 to |
1 Jul 22 to |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Other operating income |
|
– |
--------- |
---- |
|
Period from |
Period from |
|
1 Jun 23 to |
1 Jul 22 to |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
|
(
|
Impairment of trade debtors |
100,955 |
– |
------------ |
------------ |
|
Period from |
Period from |
|
1 Jun 23 to |
1 Jul 22 to |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
7 Jul 24 |
31 May 23 |
|
No. |
No. |
|
Administrative staff |
|
|
Management staff |
6 |
6 |
Number of other staff |
|
|
---- |
---- |
|
|
|
|
---- |
---- |
|
Period from |
Period from |
|
1 Jun 23 to |
1 Jul 22 to |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
Period from |
Period from |
|
1 Jun 23 to |
1 Jul 22 to |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Remuneration |
|
|
Company contributions to defined contribution pension plans |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
7 Jul 24 |
31 May 23 |
|
No. |
No. |
|
Defined contribution plans |
|
|
---- |
---- |
|
Period from |
Period from |
|
1 Jun 23 to |
1 Jul 22 to |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Aggregate remuneration |
|
|
--------- |
-------- |
|
Period from |
Period from |
|
1 Jun 23 to |
1 Jul 22 to |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Interest on loans and receivables |
38,255 |
53,588 |
Interest on cash and cash equivalents |
|
– |
-------- |
-------- |
|
|
|
|
-------- |
-------- |
|
Period from |
Period from |
|
1 Jun 23 to |
1 Jul 22 to |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
– |
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
Period from |
Period from |
|
1 Jun 23 to |
1 Jul 22 to |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
UK current tax expense |
|
– |
Origination and reversal of timing differences |
|
|
--------- |
--------- |
|
Tax on profit |
|
|
--------- |
--------- |
|
Period from |
Period from |
|
1 Jun 23 to |
1 Jul 22 to |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
------------ |
------------ |
|
Profit 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 |
(
|
|
Deferred tax adjustment |
|
|
------------ |
------------ |
|
Tax on profit |
|
|
------------ |
------------ |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Dividends on equity shares |
|
|
------------ |
------------ |
|
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 June 2023 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
(
|
(
|
(
|
(
|
------------- |
--------- |
------------ |
------------- |
|
At 7 July 2024 |
|
|
|
|
------------- |
--------- |
------------ |
------------- |
|
Depreciation |
||||
At 1 June 2023 |
|
|
|
|
Charge for the period |
|
|
|
|
Disposals |
(
|
(
|
(
|
(
|
------------- |
--------- |
------------ |
------------- |
|
At 7 July 2024 |
|
|
|
|
------------- |
--------- |
------------ |
------------- |
|
Carrying amount |
||||
At 7 July 2024 |
|
|
|
|
------------- |
--------- |
------------ |
------------- |
|
At 31 May 2023 |
|
|
|
|
------------- |
--------- |
------------ |
------------- |
|
Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
|
At 7 July 2024 |
|
|
|
------------ |
--------- |
------------ |
|
At 31 May 2023 |
|
|
|
------------ |
--------- |
------------ |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Contracted for but not provided for in the financial statements |
|
|
------------ |
------------ |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Raw materials and consumables |
|
|
-------- |
-------- |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Trade debtors |
|
|
Amounts owed by group undertakings |
|
– |
Prepayments and accrued income |
|
|
Amounts recoverable on long term contracts |
|
|
Other debtors |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Trade creditors |
|
|
Amounts owed to group undertakings |
– |
|
Accruals and deferred income |
|
|
Corporation tax |
|
– |
Social security and other taxes |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
Director loan accounts |
– |
|
Other creditors |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Obligations under finance leases and hire purchase contracts |
|
|
------------ |
------------ |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
Onerous contracts |
Deferred tax (note 21) |
Total |
|
£ |
£ |
£ |
|
At 1 June 2023 |
– |
|
|
Additions |
|
|
|
-------- |
------------ |
------------ |
|
At 7 July 2024 |
|
|
|
-------- |
------------ |
------------ |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Included in provisions (note 20) |
|
|
------------ |
------------ |
|
7 Jul 24 |
31 May 23 |
|
£ |
£ |
|
Accelerated capital allowances |
|
|
Unused tax losses |
– |
(
|
------------ |
------------ |
|
2,630,769 |
1,822,114 |
|
------------ |
------------ |
|
7 Jul 24 |
31 May 23 |
|||
No. |
£ |
No. |
£ |
|
|
|
449 |
|
449 |
|
|
20 |
|
20 |
|
|
41 |
|
41 |
-------- |
---- |
-------- |
---- |
|
|
|
|
|
|
-------- |
---- |
-------- |
---- |
|
At 1 Jun 2023 |
Cash flows |
At 7 Jul 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
1,406,267 |
|
Debt due within one year |
(4,217,770) |
2,109,877 |
(2,107,893) |
Debt due after one year |
(2,554,870) |
101,065 |
(2,453,805) |
------------ |
------------ |
------------ |
|
(
|
|
(
|
|
------------ |
------------ |
------------ |
|
2024 | 2023 | ||
£ | £ | ||
Loans due to related parties | 569,245 | 1,535,054 | |
Loans due from related companies | 1,875,195 | 2,028,766 | |
Amounts due to directors | – | 620,740 | |
|
Notes to the Financial Statements (continued) |