|
|
|
|
Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Independent auditor's report to the members |
6 |
Statement of income and retained earnings |
11 |
Statement of financial position |
12 |
Statement of cash flows |
13 |
Notes to the financial statements |
14 |
|
Officers and Professional Advisers |
The board of directors |
|
|
|
Registered office |
|
|
|
Northern Ireland |
|
|
|
Auditor |
|
Chartered Accountants & statutory auditor |
|
Aisling House |
|
50 Stranmillis Embankment |
|
Belfast |
|
BT9 5FL |
|
Bankers |
|
Donegall Square West |
|
Belfast |
|
BT1 6JS |
|
Solicitors |
|
2-14 East Bridge Street |
|
Belfast |
|
BT1 3NQ |
|
|
|
Murray House |
|
Murray Street |
|
Belfast |
|
BT1 6DN |
|
|
Strategic Report |
|
Director |
Registered office: |
|
|
Northern Ireland |
|
|
Directors' Report |
|
|
|
|
|
Director |
Registered office: |
|
|
Northern Ireland |
|
|
Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered Accountants & statutory auditor |
Aisling House |
50 Stranmillis Embankment |
Belfast |
BT9 5FL |
|
Statement of Income and Retained Earnings |
2024 |
2023 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
|
|
------------- |
------------- |
|
Gross profit |
|
|
Administrative expenses |
|
|
|
------------ |
------------ |
||
Operating profit |
5 |
|
|
Other interest receivable and similar income |
8 |
|
– |
Interest payable and similar expenses |
9 |
|
|
------------ |
------------ |
||
Profit before taxation |
|
|
|
Tax on profit |
10 |
|
|
--------- |
--------- |
||
Profit for the financial year and total comprehensive income |
|
|
|
--------- |
--------- |
||
Retained earnings at the start of the year |
|
|
------------ |
------------ |
|
Retained earnings at the end of the year |
|
|
------------ |
------------ |
|
|
Statement of Financial Position |
2024 |
2023 |
|
Note |
£ |
£ |
Tangible assets |
11 |
|
|
Stocks |
12 |
|
|
Debtors |
13 |
|
|
Cash at bank and in hand |
|
|
|
------------- |
------------- |
||
|
|
||
Creditors: amounts falling due within one year |
15 |
|
|
------------- |
------------- |
||
Net current assets |
|
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
16 |
|
|
Provisions |
18 |
|
|
------------ |
------------ |
||
Net assets |
|
|
|
------------ |
------------ |
||
Called up share capital |
21 |
|
|
Profit and loss account |
|
|
|
------------ |
------------ |
||
Shareholders funds |
|
|
|
------------ |
------------ |
||
|
Director |
|
Statement of Cash Flows |
2024 |
2023 |
|
Note |
£ |
£ |
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Other interest receivable and similar income |
(
|
– |
Interest payable and similar expenses |
|
|
Gains on disposal of tangible assets |
(74,816) |
(2,539,733) |
Tax on profit |
|
|
Accrued income |
(
|
(
|
Changes in: |
||
Stocks |
|
(
|
Trade and other debtors |
|
|
Trade and other creditors |
(
|
|
------------ |
------------ |
|
Cash generated from operations |
|
(
|
Interest paid |
(
|
(
|
Interest received |
|
– |
Tax (paid)/received |
(
|
|
------------ |
------------ |
|
Net cash from/(used in) operating activities |
|
(
|
------------ |
------------ |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
|
|
------------ |
------------ |
|
Net cash (used in)/from investing activities |
(
|
|
------------ |
------------ |
|
Proceeds from borrowings |
(
|
|
Proceeds from loans from group undertakings |
(
|
|
Proceeds from loans from participating interests |
– |
(
|
Payments of finance lease liabilities |
(
|
|
------------ |
------------ |
|
Net cash (used in)/from financing activities |
(
|
|
------------ |
------------ |
|
Net increase in cash and cash equivalents |
|
|
|
Cash and cash equivalents at beginning of year |
(1,843,900) |
(1,971,615) |
|
------------ |
------------ |
||
Cash and cash equivalents at end of year |
14 |
(
|
(
|
------------ |
------------ |
||
|
Notes to the Financial Statements |
Plant and machinery |
- |
|
|
Fixtures and fittings |
- |
|
|
Motor vehicles |
- |
|
|
2024 |
2023 |
|
£ |
£ |
|
Construction contracts |
|
|
------------- |
------------- |
|
2024 |
2023 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
|
(
|
Foreign exchange differences |
|
– |
--------- |
--------- |
|
2024 |
2023 |
|
No. |
No. |
|
Production staff |
|
|
Administrative staff |
|
|
Management staff |
2 |
2 |
---- |
---- |
|
|
|
|
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Remuneration |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on cash and cash equivalents |
|
– |
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
Other interest payable and similar charges |
|
– |
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
UK current tax expense |
|
|
Adjustments in respect of prior periods |
(
|
– |
-------- |
--------- |
|
Total current tax |
|
|
-------- |
--------- |
|
Origination and reversal of timing differences |
|
|
-------- |
--------- |
|
Tax on profit |
|
|
-------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
--------- |
--------- |
|
Profit on ordinary activities by rate of tax |
|
|
Adjustment to tax charge in respect of prior periods |
(
|
|
Effect of expenses not deductible for tax purposes |
|
|
Effect of capital allowances and depreciation |
|
(
|
Group relief |
(
|
(
|
Origination and reversal of timing differences |
|
|
Capital assets expensed |
– |
3,420
|
--------- |
--------- |
|
Tax on profit |
|
|
--------- |
--------- |
|
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 April 2023 |
|
|
|
|
Additions |
|
– |
|
|
Disposals |
(
|
– |
– |
(
|
------------ |
-------- |
--------- |
------------ |
|
At 31 March 2024 |
|
|
|
|
------------ |
-------- |
--------- |
------------ |
|
Depreciation |
||||
At 1 April 2023 |
|
|
|
|
Charge for the year |
|
|
|
|
Disposals |
(
|
– |
– |
(
|
------------ |
-------- |
--------- |
------------ |
|
At 31 March 2024 |
|
|
|
|
------------ |
-------- |
--------- |
------------ |
|
Carrying amount |
||||
At 31 March 2024 |
|
|
|
|
------------ |
-------- |
--------- |
------------ |
|
At 31 March 2023 |
|
|
|
|
------------ |
-------- |
--------- |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Work in progress |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Amounts owed by undertakings in which the company has a participating interest |
|
|
Prepayments and accrued income |
|
|
Other debtors |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Cash at bank and in hand |
|
|
Bank overdrafts |
(
|
(
|
------------ |
------------ |
|
(
|
(
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
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 |
|
|
Other creditors |
|
– |
Other creditors |
|
|
------------ |
------------- |
|
|
|
|
------------ |
------------- |
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
--------- |
------------ |
|
|
|
|
--------- |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
|
|
--------- |
------------ |
|
|
|
|
--------- |
------------ |
|
Deferred tax (note 19) |
|
£ |
|
At 1 April 2023 |
|
Additions |
|
--------- |
|
At 31 March 2024 |
|
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Included in provisions (note 18) |
|
|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Accelerated capital allowances |
|
|
--------- |
--------- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
---- |
---- |
---- |
---- |
|
At 1 Apr 2023 |
Cash flows |
At 31 Mar 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(3,607) |
|
Bank overdrafts |
(1,887,063) |
247,572 |
(1,639,491) |
Debt due within one year |
(7,079,566) |
1,559,889 |
(5,519,677) |
Debt due after one year |
(1,526,809) |
586,551 |
(940,258) |
------------- |
------------ |
------------ |
|
(
|
|
(
|
|
------------- |
------------ |
------------ |
|
|
Notes to the Financial Statements (continued) |