Key performance indicator
|
2024
|
2023
|
Growth
|
Turnover
|
£24.9m
|
£21.6m
|
15.3%
|
Gross profit
|
£5.3m
|
£5.2m
|
1.9%
|
EBITDA
|
£3.9m
|
£3.9m
|
0.0%
|
Tangible fixed assets
|
£6.28m
|
£6.07m
|
3.5%
|
Head count
|
65
|
67
|
(3.0)%
|
Director
|
27th March 2025
|
|
Director
|
|
for and on behalf of
|
|
1 London Road
Ipswich
IP1 2HA
|
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER |
|
|
||
Cost of sales |
( |
( |
||
GROSS PROFIT |
|
|
||
Administrative expenses |
( |
( |
||
Other operating income |
|
|
||
Other operating expenses |
|
|
||
OPERATING PROFIT | 4 |
|
|
|
Profit on disposal of fixed assets |
|
|
||
Other interest receivable and similar income | 9 |
|
|
|
Interest payable and similar charges | 10 |
( |
( |
|
PROFIT BEFORE TAXATION |
|
|
||
Tax on Profit | 11 |
( |
( |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
|
|
||
Profit attributable to: | ||||
Owners of the parent | 2,009,631 | 2,314,928 | ||
Non-controlling interest | 147,838 | 91,213 | ||
|
|
|||
2024 | 2023 | |||
---|---|---|---|---|
£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
|
|
||
OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
|
|
||
Total comprehensive income attributable to: | ||||
Owners of the parent | 2,009,631 | 2,314,928 | ||
Non-controlling interest | 147,838 | 91,213 | ||
|
|
|||
2024 | 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 12 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 14 |
|
|
||
Debtors | 15 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 16 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 17 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 19 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 21 |
|
|
||
Profit and Loss Account |
|
|
|||
Equity attributable to owners of the parent | 8,527,037 | 7,732,181 | |||
Non-controlling interest |
|
|
|||
TOTAL EQUITY | 9,223,719 | 8,425,025 | |||
Director
|
|
2024 | 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Investments | 13 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Debtors | 15 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 16 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
( |
( |
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
( |
|||
NET ASSETS/(LIABILITIES) |
|
( |
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 21 |
|
|
||
Profit and Loss Account |
|
( |
|||
SHAREHOLDERS' FUNDS | 172,679 | (570,698) | |||
Director
|
|
Share Capital | Other reserves | Profit and Loss Account | Total Attributable to Parent | |
---|---|---|---|---|
£ | £ | £ | £ | |
As at 1 July 2022 |
|
|
|
|
Profit for the year and total comprehensive income | - | - |
|
|
Dividends paid | - | - | (1,259,164) | (1,259,164) |
Arising on shares issued during the period |
|
- | - | 3 |
Movements type A | - | - | - | - |
Transfer to/from Profit & Loss Account | - |
|
- | - |
As at 30 June 2023 and 1 July 2023 |
|
|
|
|
Profit for the year and total comprehensive income | - | - |
|
|
Dividends paid | - | - | (1,214,775) | (1,214,775) |
Arising on shares issued during the period |
|
- | - | 3 |
As at 30 June 2024 |
|
|
|
|
Non-controlling interest | Total | |
---|---|---|
£ | £ | |
As at 1 July 2022 |
|
7,358,045 |
Profit for the year and total comprehensive income |
|
2,406,141 |
Dividends paid |
( |
(1,339,164) |
Arising on shares issued during the period | - | 3 |
Movements type A | - | - |
Transfer to/from Profit & Loss Account | - | - |
As at 30 June 2023 and 1 July 2023 |
|
8,425,025 |
Profit for the year and total comprehensive income |
|
2,157,469 |
Dividends paid |
( |
(1,358,775) |
Arising on shares issued during the period | - | 3 |
As at 30 June 2024 |
|
9,223,719 |
Share Capital | Other reserves | Profit and Loss Account | Total | |
---|---|---|---|---|
£ | £ | £ | £ | |
As at 1 July 2022 |
|
|
( |
(507,728) |
Profit for the year and total comprehensive income | - | - |
|
1,196,191 |
Dividends paid | - | - | (1,259,164) | (1,259,164) |
Arising on shares issued during the period |
|
- | - | 3 |
Movements type A | - | - | - | - |
Transfer to/from Profit & Loss Account | - |
|
- | - |
As at 30 June 2023 and 1 July 2023 |
|
|
( |
(570,698) |
Profit for the year and total comprehensive income | - | - |
|
1,958,149 |
Dividends paid | - | - | (1,214,775) | (1,214,775) |
Arising on shares issued during the period |
|
- | - | 3 |
As at 30 June 2024 |
|
|
|
172,679 |
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
|
|
|
Interest paid |
( |
( |
||
Tax paid |
( |
( |
||
Net cash generated from operating activities |
|
|
||
Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
( |
||
Proceeds from disposal of tangible assets |
|
|
||
Interest received |
|
|
||
Net cash used in investing activities |
( |
( |
||
Cash flows from financing activities | ||||
Proceeds from issue of share capital |
|
|
||
Equity dividends paid |
( |
( |
||
Repayment of finance leases |
( |
( |
||
Amount introduced by directors | 1,468,000 | 170,513 | ||
Amount withdrawn by directors | (1,407,500) | - | ||
Net cash used in financing activities |
( |
( |
||
(Decrease)/increase in cash and cash equivalents |
( |
|
||
Cash and cash equivalents at beginning of year | 2 |
|
|
|
Foreign exchange losses on cash and cash equivalents |
( |
( |
||
Cash and cash equivalents at end of year | 2 |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Tax on profit |
|
|
|
Interest expense |
|
|
|
Interest income |
( |
( |
|
Depreciation of tangible assets |
|
|
|
Profit on disposal of tangible assets | (6,638) | (1,250) | |
Foreign exchange losses | 652 | 13,922 | |
Movements in working capital: | |||
Decrease in stocks |
|
|
|
Increase in trade and other debtors |
( |
( |
|
Increase/(decrease) in trade and other creditors |
|
( |
|
Net cash generated from operations |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 July 2023 | Cash flows | As at 30 June 2024 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
(31,638) |
|
Finance leases | (223,650) | 77,878 | (145,772) |
1,290,099 | 46,240 | 1,336,339 | |
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash (used in)/generated from operations | 1 |
( |
|
|
Interest paid |
|
( |
||
Tax paid |
( |
( |
||
Net cash (used in)/generated from operating activities |
( |
|
||
Cash flows from investing activities | ||||
Interest received |
|
|
||
Dividends received |
|
|
||
Net cash generated from investing activities |
|
|
||
Cash flows from financing activities | ||||
Proceeds from issue of share capital |
|
|
||
Equity dividends paid |
( |
( |
||
Amount introduced by directors | 1,324,000 | 90,513 | ||
Amount withdrawn by directors | (1,262,000) | - | ||
Net cash used in financing activities |
( |
( |
||
Increase in cash and cash equivalents |
|
|
||
Cash and cash equivalents at beginning of year | 2 |
|
|
|
Foreign exchange losses on cash and cash equivalents |
( |
|
||
Cash and cash equivalents at end of year | 2 |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Tax on profit |
|
|
|
Interest expense | - |
|
|
Interest income |
( |
( |
|
Income from shares in group undertakings | (1,656,000) | (920,000) | |
Foreign exchange losses | 9,865 | - | |
Movements in working capital: | |||
Increase in trade and other debtors |
( |
( |
|
(Decrease)/increase in trade and other creditors |
( |
|
|
Net cash (used in)/generated from operations |
( |
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 July 2023 | Cash flows | As at 30 June 2024 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
23,810 |
|
Freehold |
|
Leasehold |
|
Plant & Machinery |
|
Motor Vehicles |
|
Fixtures & Fittings |
|
Computer Equipment |
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Other operating income | - |
|
|
- | 6,439 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bad debts | 44,140 | 30,438 | |
Operating lease rentals |
|
|
|
Exchange differences |
|
|
|
Depreciation of tangible fixed assets - owned |
|
|
|
Depreciation of tangible fixed assets - finance leases and hire purchase contracts |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the group and company's financial statements |
|
|
|
Non-Audit Services | |||
Other non-audit services |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
Office and administration |
|
|
|
Sales, marketing and distribution |
|
|
|
Manufacturing |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
Money purchase pension schemes |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank interest receivable |
|
|
|
48,307 | 817 | ||
Total interest income on financial assets not measured at fair value through profit or loss: |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank loans and overdrafts | - |
|
|
Finance charges payable under finance leases and hire purchase contracts | 10,936 | 15,497 | |
Other finance charges | - |
|
|
10,936 | 21,763 | ||
Total interest expense on financial liabilities not measured at fair value through profit or loss: |
|
|
|
The tax charge on the profit for the year was as follows:
|
|||||
Tax Rate | 2024 | 2023 | |||
---|---|---|---|---|---|
2024 | 2023 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 25.0% | 20.5% |
|
|
|
Deferred Tax | |||||
Deferred taxation |
( |
|
|||
Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
|
|||||
2024 | 2023 | ||||
£ | £ | ||||
Profit before tax | 2,920,806 | 3,039,082 | |||
Tax on profit at 25% (UK standard rate) |
|
|
|||
Goodwill/depreciation not allowed for tax |
|
|
|||
Expenses not deductible for tax purposes |
|
|
Capital allowances |
( |
( |
|||
Short term timing differences |
( |
|
|||
Revenue exempt from taxation |
( |
|
|||
Total tax charge for the period | 763,337 | 632,941 | |||
Land & Property | ||||
---|---|---|---|---|
Freehold | Leasehold | Plant & Machinery | Total | |
£ | £ | £ | £ | |
Cost | ||||
As at 1 July 2023 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
|
|
( |
( |
As at 30 June 2024 |
|
|
|
|
Depreciation | ||||
As at 1 July 2023 |
|
|
|
|
Provided during the period |
|
|
|
|
Disposals |
|
|
( |
( |
As at 30 June 2024 |
|
|
|
|
Net Book Value | ||||
As at 30 June 2024 |
|
|
|
|
As at 1 July 2023 |
|
|
|
|
Subsidiaries | |
---|---|
£ | |
Cost | |
As at 1 July 2023 |
|
As at 30 June 2024 |
|
Provision | |
As at 1 July 2023 |
|
As at 30 June 2024 |
|
Net Book Value | |
As at 30 June 2024 |
|
As at 1 July 2023 |
|
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Stock |
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|
|
|
|||
Materials |
|
|
|
|
|||
Work in progress |
|
|
|
|
|||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Due within one year | |||||||
Trade debtors |
|
|
|
|
|||
Prepayments and accrued income |
|
|
|
|
|||
Other debtors | - |
|
|
|
|||
Amounts owed by subsidiaries | - | - |
|
|
|||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
Trade creditors |
|
|
( |
|
|||
Amounts owed to group undertakings | - | - |
|
|
|||
Other creditors | 291,236 | 291,690 | 155,106 | 93,106 | |||
Corporation tax |
|
|
|
|
|||
Taxation and social security | 516,093 | 668,471 | 34,490 | - | |||
Accruals and deferred income |
|
|
|
|
|||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
|
|
|
|
||||
Group | ||||
---|---|---|---|---|
2024 | 2023 | |||
£ | £ | |||
The future minimum finance lease payments are as follows: | ||||
Not later than one year |
|
|
||
Later than one year and not later than five years |
|
|
||
|
|
|||
|
|
|||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Other timing differences | 756,371 | 858,659 | |
Group | ||
---|---|---|
Deferred Tax | Total | |
£ | £ | |
As at 1 July 2023 |
|
858,659 |
Reversals |
( |
(102,288) |
Balance at 30 June 2024 |
|
756,371 |
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Final dividend paid |
|
|
|
1,214,775 | 1,259,164 | ||