Contents | |
Page | |
---|---|
Strategic Report | 1—2 |
Directors' Report | 3—4 |
Independent Auditor's Report | 5—7 |
Profit and Loss Account | 8 |
Statement of Comprehensive Income | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Notes to the Financial Statements | 12—18 |
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
|
0.00%
|
Tangible fixed assets
|
£ 6.28m
|
£ 6.07m
|
3.5%
|
Head count
|
65
|
67
|
(3.0%)
|
Director
|
21st October 2024
|
|
|
Director
|
|
for and on behalf of
|
|
1 London Road
Ipswich
Suffolk
IP1 2HA
|
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER | 3 |
|
|
|
Cost of sales |
( |
( |
||
GROSS PROFIT |
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Administrative expenses |
( |
( |
||
Other operating income |
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||
OPERATING PROFIT | 5 |
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|
Profit on disposal of fixed assets |
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||
Other interest receivable and similar income | 10 |
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|
Interest payable and similar charges | 11 |
( |
( |
|
PROFIT BEFORE TAXATION |
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||
Tax on Profit | 12 |
( |
( |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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||
2024 | 2023 | |||
---|---|---|---|---|
£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
|
|
||
OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
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|
||
2024 | 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 13 |
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||
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CURRENT ASSETS | |||||
Stocks | 14 |
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Debtors | 15 |
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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 | 16 |
( |
( |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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|||
Creditors: Amounts Falling Due After More Than One Year | 17 |
( |
( |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 19 |
( |
( |
||
NET ASSETS |
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|||
CAPITAL AND RESERVES | |||||
Called up share capital | 21 |
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||
Profit and Loss Account |
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|||
SHAREHOLDERS' FUNDS | 9,673,444 | 9,625,473 | |||
Director
|
|
Share Capital | Profit and Loss Account | Total | |
---|---|---|---|
£ | £ | £ | |
As at 1 July 2022 |
|
|
8,485,308 |
Profit for the year and total comprehensive income | - |
|
2,140,165 |
Dividends paid | - | (1,000,000) | (1,000,000) |
As at 30 June 2023 and 1 July 2023 |
|
|
9,625,473 |
Profit for the year and total comprehensive income | - |
|
1,847,971 |
Dividends paid | - | (1,800,000) | (1,800,000) |
As at 30 June 2024 |
|
|
9,673,444 |
Leasehold |
|
Plant & Machinery |
|
Motor Vehicles |
|
Fixtures & Fittings |
|
Computer Equipment |
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Unit hire | 5,078,474 | 4,967,512 | |
Unit sales | 17,707,494 | 14,291,049 | |
Vehicle transport contracts | 1,726,002 | 2,050,744 | |
Workshop income | 467,877 | 307,676 | |
24,979,847 | 21,616,981 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Other operating income | - |
|
|
- | 6,439 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bad debts | 44,140 | 30,438 | |
Operating lease rentals |
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|
|
Depreciation of tangible fixed assets - owned |
|
|
|
Depreciation of tangible fixed assets - finance leases and hire purchase contracts |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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|
Non-Audit Services | |||
Other non-audit services |
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|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Wages and salaries |
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|
|
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||
2024 | 2023 | ||
---|---|---|---|
Office and administration |
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Sales, marketing and distribution |
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Manufacturing |
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||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
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2024 | 2023 | ||
---|---|---|---|
Money purchase pension schemes |
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|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank interest receivable |
|
|
|
48,065 | 611 | ||
Total interest income on financial assets 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 | |
10,936 | 18,755 | ||
Total interest expense on financial liabilities 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% |
|
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|
Deferred Tax | |||||
Deferred taxation |
( |
|
|||
Total tax charge for the period |
|
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|||
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 | 2,510,590 | 2,701,906 | |||
Tax on profit at 25% (UK standard rate) |
|
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Goodwill/depreciation not allowed for tax |
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|||
Expenses not deductible for tax purposes |
|
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|||
Capital allowances |
( |
( |
|||
Short term timing differences |
( |
|
|||
Total tax charge for the period | 662,619 | 561,741 | |||
Land & Property | |||
---|---|---|---|
Leasehold | Plant & Machinery | Total | |
£ | £ | £ | |
Cost | |||
As at 1 July 2023 |
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|
Additions |
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|
Disposals |
|
( |
( |
As at 30 June 2024 |
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|
Depreciation | |||
As at 1 July 2023 |
|
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|
Provided during the period |
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Disposals |
|
( |
( |
As at 30 June 2024 |
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Net Book Value | |||
As at 30 June 2024 |
|
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|
As at 1 July 2023 |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Stock - cabin units |
|
|
|
Stock - components |
|
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|
Work in progress |
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||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Trade debtors |
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Prepayments and accrued income |
|
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Other debtors | - |
|
|
Amounts owed by group undertakings |
|
|
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|
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||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
|
|
|
Trade creditors |
|
|
|
Other creditors | 136,130 | 198,584 | |
Corporation tax |
|
|
|
Taxation and social security | 481,603 | 668,659 | |
Accruals and deferred income |
|
|
|
|
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||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
|
|
|
|
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||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
The future minimum finance lease payments are as follows: | |||
Not later than one year |
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Later than one year and not later than five years |
|
|
|
|
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||
|
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||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Other timing differences | 756,371 | 858,659 | |
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 |
|
|
|
1,800,000 | 1,000,000 | ||