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FINANCIAL STATEMENTS |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Consolidated income statement |
9 |
Consolidated statement of comprehensive income |
10 |
Consolidated statement of financial position |
11 |
Company statement of financial position |
13 |
Consolidated statement of changes in equity |
14 |
Company statement of changes in equity |
16 |
Consolidated statement of cash flows |
17 |
Notes to the financial statements |
18 |
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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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168 Church Road |
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Hove |
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East Sussex |
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BN3 2DL |
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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 |
168 Church Road |
Hove |
East Sussex |
BN3 2DL |
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CONSOLIDATED INCOME STATEMENT |
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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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 |
10 |
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Interest payable and similar expenses |
11 |
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------------- |
------------- |
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Profit before taxation |
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Tax on profit |
12 |
(
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---------- |
---------- |
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Profit for the financial year |
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---------- |
---------- |
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The owners of the parent company |
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Non-controlling interests |
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(
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---------- |
--------- |
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---------- |
--------- |
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME |
2024 |
2023 |
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£ |
£ |
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Profit for the financial year |
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Revaluation of tangible assets |
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– |
Tax relating to components of other comprehensive income |
(
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– |
--------------- |
--------- |
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Other comprehensive income for the year |
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– |
--------------- |
--------- |
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Total comprehensive income for the year |
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--------------- |
--------- |
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The owners of the parent company |
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Non-controlling interests |
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(
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--------------- |
--------- |
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--------------- |
--------- |
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
2024 |
2023 |
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Note |
£ |
£ |
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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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Creditors: amounts falling due within one year |
17 |
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Net current liabilities |
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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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Taxation including deferred tax |
19 |
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--------------- |
--------------- |
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Net assets |
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--------------- |
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Called up share capital |
23 |
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Revaluation reserve |
24 |
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Profit and loss account |
24 |
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--------------- |
--------------- |
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Equity attributable to the owners of the parent company |
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Non-controlling interests |
(
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(
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--------------- |
--------------- |
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--------------- |
--------------- |
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued) |
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Director |
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COMPANY STATEMENT OF FINANCIAL POSITION |
2024 |
2023 |
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Note |
£ |
£ |
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Investments |
14 |
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Debtors |
16 |
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Creditors: amounts falling due within one year |
17 |
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--------- |
--------- |
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Net current liabilities |
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--------- |
--------- |
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Total assets less current liabilities |
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--------- |
--------- |
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Called up share capital |
23 |
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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 CHANGES IN EQUITY |
Called up share capital |
Revaluation reserve |
Profit and loss account |
Equity attributable to the owners of the parent company |
Non-controlling interests |
Total |
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Note |
£ |
£ |
£ |
£ |
£ |
£ |
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At 1 May 2022 |
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(
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Profit for the year |
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(
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--------- |
------------- |
------------- |
------------- |
---------- |
------------- |
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Total comprehensive income for the year |
– |
– |
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(
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At 30 April 2023 |
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(
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Profit for the year |
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Other comprehensive income for the year: |
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Revaluation of tangible assets |
13 |
– |
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– |
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– |
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Tax relating to components of other comprehensive income |
12 |
– |
(
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– |
(
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– |
(
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--------- |
------------- |
------------- |
------------- |
---------- |
------------- |
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Total comprehensive income for the year |
– |
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--------- |
------------- |
------------- |
------------- |
---------- |
------------- |
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At 30 April 2024 |
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(
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--------- |
------------- |
------------- |
------------- |
---------- |
------------- |
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COMPANY STATEMENT OF CHANGES IN EQUITY |
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COMPANY STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 May 2022 |
|
– |
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Profit for the year |
– |
– |
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At 30 April 2023 |
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– |
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Profit for the year |
– |
– |
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--------- |
---- |
--------- |
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At 30 April 2024 |
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– |
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--------- |
---- |
--------- |
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CONSOLIDATED STATEMENT OF CASH FLOWS |
2024 |
2023 |
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£ |
£ |
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Profit for the financial year |
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Adjustments for: |
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Depreciation of tangible assets |
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Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
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Loss/(gains) on disposal of tangible assets |
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(
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Tax on profit |
(
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Accrued (income)/expenses |
(
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Changes in: |
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Stocks |
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Trade and other debtors |
(
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Trade and other creditors |
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(
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------------- |
------------- |
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Cash generated from operations |
(
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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 (used in)/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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------------- |
------------- |
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Net cash used in financing activities |
– |
(
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------------- |
------------- |
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Net decrease in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
3,840,478 |
5,450,625 |
------------- |
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Cash and cash equivalents at end of year |
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NOTES TO THE FINANCIAL STATEMENTS |
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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Manufacture and distribution of glass products |
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Rent receivable |
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--------------- |
--------------- |
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--------------- |
--------------- |
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2024 |
2023 |
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£ |
£ |
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Management charges receivable |
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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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Loss/(gains) on disposal of tangible assets |
|
(
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Impairment of trade debtors |
(1) |
(22,252) |
---------- |
---------- |
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2024 |
2023 |
|
£ |
£ |
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Fees payable for the audit of the financial statements |
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|
--------- |
--------- |
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Other non-audit services |
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|
--------- |
--------- |
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2024 |
2023 |
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No. |
No. |
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Production staff |
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Administrative staff |
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|
---- |
---- |
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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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No. |
No. |
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Defined contribution plans |
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---- |
---- |
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2024 |
2023 |
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£ |
£ |
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Interest on cash and cash equivalents |
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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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Dividends paid on shares classed as debt |
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Other loan interest |
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Other interest payable and similar charges |
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|
---------- |
---------- |
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---------- |
---------- |
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2024 |
2023 |
|
£ |
£ |
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UK current tax income |
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Origination and reversal of timing differences |
(
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|
---------- |
---------- |
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Tax on profit |
(
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|
---------- |
---------- |
|
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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Effect of expenses not deductible for tax purposes |
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Effect of capital allowances and depreciation |
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Effect of different UK tax rates on some earnings |
(340) |
– |
Utilisation of tax losses |
(
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(
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Movement on deferred tax |
(
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|
---------- |
---------- |
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Tax on profit |
(
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|
---------- |
---------- |
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Group |
Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
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Cost |
|||||
At 1 May 2023 |
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Additions |
– |
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– |
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Disposals |
– |
(
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– |
– |
(
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Revaluations |
|
– |
– |
– |
|
--------------- |
--------------- |
------------- |
------------- |
--------------- |
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At 30 April 2024 |
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--------------- |
--------------- |
------------- |
------------- |
--------------- |
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Depreciation |
|||||
At 1 May 2023 |
– |
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Charge for the year |
– |
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Disposals |
– |
(
|
– |
– |
(
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--------------- |
--------------- |
------------- |
------------- |
--------------- |
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At 30 April 2024 |
– |
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--------------- |
--------------- |
------------- |
------------- |
--------------- |
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Carrying amount |
|||||
At 30 April 2024 |
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--------------- |
--------------- |
------------- |
------------- |
--------------- |
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At 30 April 2023 |
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--------------- |
--------------- |
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--------------- |
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Group |
Freehold property |
£ |
|
At 30 April 2024 |
|
Aggregate cost |
19,954,777 |
Aggregate depreciation |
– |
--------------- |
|
Carrying value |
|
--------------- |
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At 30 April 2023 |
|
Aggregate cost |
19,954,777 |
Aggregate depreciation |
– |
--------------- |
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Carrying value |
|
--------------- |
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Company |
Other investments other than loans |
£ |
|
Cost |
|
At 1 May 2023 and 30 April 2024 |
|
--------- |
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Impairment |
|
At 1 May 2023 and 30 April 2024 |
– |
--------- |
|
Carrying amount |
|
At 1 May 2023 and 30 April 2024 |
|
--------- |
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At 30 April 2023 |
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--------- |
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Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Ordinary |
100 |
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Ordinary |
80 |
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Ordinary |
100 |
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Ordinary |
80 |
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Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
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Raw materials and consumables |
|
|
– |
– |
---------- |
---------- |
---- |
---- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
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|
– |
– |
Prepayments and accrued income |
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|
– |
– |
Amounts due from related parties |
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– |
– |
Other debtors |
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------------- |
------------- |
---- |
---- |
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------------- |
------------- |
---- |
---- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
– |
– |
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Accruals and deferred income |
|
|
– |
– |
Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
|
– |
– |
Amounts owed to related parties |
|
|
– |
– |
Other creditors |
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|
– |
– |
------------- |
------------- |
--------- |
--------- |
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------------- |
------------- |
--------- |
--------- |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Other creditors |
– |
|
– |
– |
---- |
------------- |
---- |
---- |
|
Group |
Deferred tax (note 20) |
£ |
|
At 1 May 2023 |
|
Additions |
|
------------- |
|
At 30 April 2024 |
|
------------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 19) |
|
|
– |
– |
------------- |
------------- |
---- |
---- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
Revaluation of tangible assets |
|
|
– |
– |
Unused tax losses |
(
|
(
|
– |
– |
------------- |
------------- |
---- |
---- |
|
5,376,713 |
1,998,838 |
– |
– |
|
------------- |
------------- |
---- |
---- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
100,000 |
100,000 |
100,000 |
100,000 |
---------- |
---------- |
---------- |
---------- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
10,004 |
|
10,004 |
--------- |
--------- |
--------- |
--------- |
|
At 1 May 2023 |
Cash flows |
At 30 Apr 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(2,636,458) |
|
------------- |
------------- |
------------- |
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|
NOTES TO THE FINANCIAL STATEMENTS (continued) |