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For the year ended |
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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Directors' responsibilities statement |
6 |
Independent auditor's report to the members |
7 |
Income statement |
11 |
Statement of financial position |
12 |
Statement of changes in equity |
13 |
Notes to the financial statements |
14 |
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Officers and Professional Advisers |
The board of directors |
J Drake (Appointed 8 January 2024)
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P Duffill (Appointed 8 May 2024)
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M G Negus (Resigned 8 January 2024)
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G Mitchell (Resigned 9 April 2024)
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G Wearing (Resigned 11 October 2023)
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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Enterprise House |
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38 Tyndall Court |
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Commerce Road |
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Lynch Wood |
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Peterborough |
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Cambridgeshire |
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PE2 6LR |
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Strategic Report |
2022 | 2023 | 2024 | ||
Revenue (£000s) | 20,242 | 21,380 | 8,354 | |
Gross profit (£000s) | 5,205 | 4,507 | 1,630 | |
Operating profit excluding central function costs (£000s) | 2,730 | 2,732 | 144 | |
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Director |
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Directors' Report |
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J Drake
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(Appointed
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(Appointed
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(Resigned
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(Resigned
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(Resigned
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J Drake
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Director |
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Directors' Responsibilities Statement |
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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 |
Enterprise House |
38 Tyndall Court |
Commerce Road |
Lynch Wood |
Peterborough |
Cambridgeshire |
PE2 6LR |
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Income Statement |
2024 |
2023 |
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(restated) |
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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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------------ |
------------- |
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Gross profit |
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Administrative expenses |
(
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(
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Other operating income |
5 |
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------------ |
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Operating (loss)/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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------------ |
------------ |
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(Loss)/profit before taxation |
(
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Tax on (loss)/profit |
12 |
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------------ |
--------- |
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(Loss)/profit for the financial year |
(
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------------ |
--------- |
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Statement of Financial Position |
2024 |
2023 |
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(restated) |
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Note |
£ |
£ |
Tangible assets |
13 |
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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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------------- |
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Net current assets |
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Total assets less current liabilities |
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Provisions |
17 |
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Net assets |
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Called up share capital |
22 |
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Capital redemption reserve |
23 |
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Profit and loss account |
23 |
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Shareholders funds |
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J Drake
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Director |
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Statement of Changes in Equity |
Called up share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 August 2022 |
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Profit for the year |
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-------- |
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Total comprehensive income for the year |
– |
– |
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At 31 July 2023 |
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Loss 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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-------- |
-------- |
------------ |
------------ |
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At 30 July 2024 |
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-------- |
-------- |
------------ |
------------ |
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Notes to the Financial Statements |
Short leasehold property | - | To break point in the lease | |
Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Equipment | - | 25 % straight line | |
2024 |
2023 |
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(restated) |
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£ |
£ |
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Sale of goods |
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------------ |
------------- |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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United Kingdom |
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Europe |
298,757 |
855,891 |
Rest of the World |
165,205 |
2,032,093 |
------------ |
------------- |
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------------ |
------------- |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Government grant income |
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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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(restated) |
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£ |
£ |
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Depreciation of tangible assets |
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Impairment of trade debtors |
82,649 |
14,342 |
Foreign exchange differences |
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Operating lease charges |
– |
84,500 |
--------- |
--------- |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Fees payable for the audit of the financial statements |
|
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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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(restated) |
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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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(restated) |
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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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(restated) |
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£ |
£ |
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Aggregate 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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(restated) |
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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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(restated) |
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£ |
£ |
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Other interest payable and similar charges |
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--------- |
--------- |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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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 (loss)/profit |
(
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(
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--------- |
-------- |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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(Loss)/profit on ordinary activities before taxation |
(
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------------ |
--------- |
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(Loss)/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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(
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Effect of revenue exempt from tax |
(
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(
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Effect of different UK tax rates on some earnings |
– |
16,329 |
Utilisation of tax losses |
|
(
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Other adjustment |
(2,074) |
– |
Adjustments in respect of prior periods |
– |
(125,729) |
Transfer pricing adjustments |
(37,451) |
39,664 |
------------ |
--------- |
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Tax on (loss)/profit |
(
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(
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------------ |
--------- |
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Short leasehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Computer |
Total |
|
£ |
£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 Aug 2023 (as restated) |
|
|
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136,607 |
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Additions |
|
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|
– |
53,550 |
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Disposals |
– |
(
|
– |
– |
– |
(
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--------- |
--------- |
------------ |
-------- |
--------- |
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At 30 Jul 2024 |
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190,157 |
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--------- |
--------- |
------------ |
-------- |
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------------ |
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Depreciation |
||||||
At 1 Aug 2023 |
– |
|
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110,801 |
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Charge for the year |
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16,622 |
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Disposals |
– |
(
|
– |
– |
– |
(
|
--------- |
--------- |
------------ |
-------- |
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------------ |
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At 30 Jul 2024 |
|
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127,423 |
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--------- |
--------- |
------------ |
-------- |
--------- |
------------ |
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Carrying amount |
||||||
At 30 Jul 2024 |
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|
– |
62,734 |
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--------- |
--------- |
------------ |
-------- |
--------- |
------------ |
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At 31 Jul 2023 |
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25,806 |
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--------- |
--------- |
------------ |
-------- |
--------- |
------------ |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Work in progress |
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Finished goods and goods for resale |
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--------- |
------------ |
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--------- |
------------ |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
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Deferred tax asset |
|
– |
Prepayments and accrued income |
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Corporation tax repayable |
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Other debtors |
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------------- |
------------- |
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------------- |
------------- |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Bank loans and overdrafts |
|
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Trade creditors |
|
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Social security and other taxes |
|
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Other creditors |
193,261 |
189,051 |
------------- |
------------ |
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------------- |
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Warranties |
Deferred tax (note 18) |
Dilapidation |
Total |
|
£ |
£ |
£ |
£ |
|
At 1 August 2023 (as restated) |
|
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200,900 |
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Additions |
|
– |
– |
|
Charge against provision |
– |
(
|
– |
(
|
-------- |
-------- |
--------- |
--------- |
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At 30 July 2024 |
|
– |
200,900 |
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-------- |
-------- |
--------- |
--------- |
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2024 |
2023 |
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(restated) |
||
£ |
£ |
|
Included in debtors (note 15) |
|
– |
Included in provisions (note 17) |
– |
(
|
--------- |
-------- |
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|
(
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--------- |
-------- |
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2024 |
2023 |
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(restated) |
||
£ |
£ |
|
Accelerated capital allowances |
|
|
Unused tax losses |
(
|
– |
Pension plan obligations |
(
|
(
|
--------- |
-------- |
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(343,351) |
47,491 |
|
--------- |
-------- |
|
2024 |
2023 |
|
(restated) |
||
£ |
£ |
|
Government grants recognised directly in income |
|
|
---- |
-------- |
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2024 |
2023 |
|||
(restated) |
||||
No. |
£ |
No. |
£ |
|
|
|
12,000 |
|
12,000 |
-------- |
-------- |
-------- |
-------- |
|
2024 |
2023 |
|
(restated) |
||
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
– |
|
-------- |
--------- |
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-------- |
--------- |
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