2024
|
2023
|
||
£
|
£
|
||
Revenue
|
18,635,365
|
16,234,778
|
|
Gross Profit
|
4,788,634
|
3,983,363
|
|
Profit before taxation
|
1,994,595
|
1,932,105
|
|
|
|
||
|
|
Director
|
16 April 2025
|
|
|
|
|
|
Director
|
|
for and on behalf of
|
|
Building 2 The Sidings
Antrim Road
Lisburn
BT28 3AJ
|
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER |
|
|
||
Cost of sales |
( |
( |
||
GROSS PROFIT |
|
|
||
Distribution costs |
( |
( |
||
Administrative expenses |
( |
( |
||
Other operating income |
|
|
||
OPERATING PROFIT | 4 |
|
|
|
Income from other current asset investments |
|
|
||
Profit on disposal of current asset investments | 56,130 | - | ||
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 ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
|
|
||
OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
|
|
||
2024 | 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Intangible Assets | 12 |
|
|
||
Tangible Assets | 13 |
|
|
||
Investments | 14 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 15 |
|
|
||
Debtors | 16 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 17 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 18 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 20 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 22 |
|
|
||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 5,284,252 | 4,008,307 | |||
Director
|
Director
|
|
2024 | 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 13 |
|
|
||
Investments | 14 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 15 |
|
|
||
Debtors | 16 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 17 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 18 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 20 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 22 |
|
|
||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 5,127,577 | 3,921,167 | |||
Director
|
Director
|
Share Capital | Profit and Loss Account | Total | |
---|---|---|---|
£ | £ | £ | |
As at 1 August 2022 |
|
|
2,528,185 |
Profit for the year and total comprehensive income | - |
|
1,554,372 |
Dividends paid | - | (74,250) | (74,250) |
As at 31 July 2023 and 1 August 2023 |
|
|
4,008,307 |
Profit for the year and total comprehensive income | - |
|
1,452,695 |
Dividends paid | - | (176,750) | (176,750) |
As at 31 July 2024 |
|
|
5,284,252 |
Share Capital | Profit and Loss Account | Total | |
---|---|---|---|
£ | £ | £ | |
As at 1 August 2022 |
|
|
2,461,329 |
Profit for the year and total comprehensive income | - |
|
1,534,088 |
Dividends paid | - | (74,250) | (74,250) |
As at 31 July 2023 and 1 August 2023 |
|
|
3,921,167 |
Profit for the year and total comprehensive income | - |
|
1,383,160 |
Dividends paid | - | (176,750) | (176,750) |
As at 31 July 2024 |
|
|
5,127,577 |
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 intangible assets |
( |
|
||
Purchase of tangible assets |
( |
( |
||
Proceeds from disposal of tangible assets |
|
|
||
Proceeds from disposal of investment in subsidiary undertaking |
( |
|
||
Purchase of other fixed asset investments |
( |
|
||
Proceeds from disposal of current asset investments |
|
|
||
Interest received |
|
|
||
Net cash used in investing activities |
( |
( |
||
Cash flows from financing activities | ||||
Purchase/redemption of own shares |
( |
( |
||
Equity dividends paid |
( |
( |
||
Repayment of finance leases |
|
( |
||
Amount introduced by directors | 49,259 | 42,127 | ||
Net cash generated from/(used in) financing activities |
|
( |
||
(Decrease)/increase in cash and cash equivalents |
( |
|
||
Cash and cash equivalents at beginning of year | 2 |
|
|
|
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 investments | - | (25,400) | |
Amortisation of intangible assets |
|
|
|
Depreciation of tangible assets |
|
|
|
Profit on disposal of tangible assets | (6,136) | (40,000) | |
Profit on disposal of current asset investments | (56,130) | - | |
Grant income | - | (2,185) | |
Foreign exchange losses | 1,979 | - | |
Movements in working capital: | |||
Decrease in stocks |
|
|
|
Decrease/(increase) in trade and other debtors |
|
( |
|
(Decrease)/increase in trade and other creditors |
( |
|
|
Net cash generated from operations |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 August 2023 | Cash flows | As at 31 July 2024 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
(1,598,466) |
|
Finance leases | (454,234) | (905,409) | (1,359,643) |
2,526,937 | (2,503,875) | 23,062 | |
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 |
|
|
||
Purchase of investment in subsidiary undertaking |
( |
|
||
Proceeds from disposal of investment in subsidiary undertaking |
|
|
||
Purchase of other fixed asset investments |
( |
|
||
Proceeds from disposal of current asset investments |
|
|
||
Interest received |
|
|
||
Net cash used in investing activities |
( |
( |
||
Cash flows from financing activities | ||||
Purchase/redemption of own shares |
|
( |
||
Equity dividends paid |
( |
( |
||
Repayment of finance leases |
|
( |
||
Amount introduced by directors | 49,259 | 42,127 | ||
Net cash generated from/(used in) financing activities |
|
( |
||
(Decrease)/increase in cash and cash equivalents |
( |
|
||
Cash and cash equivalents at beginning of year | 2 |
|
|
|
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 | (6,136) | (40,000) | |
Profit on disposal of current asset investments | (56,130) | - | |
Grant income | - | (2,185) | |
Movements in working capital: | |||
Decrease in stocks |
|
|
|
(Increase)/decrease in trade and other debtors |
( |
|
|
Increase in trade and other creditors |
|
|
|
Net cash generated from operations |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 August 2023 | Cash flows | As at 31 July 2024 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
(1,836,578) |
|
Finance leases | (454,234) | (905,409) | (1,359,643) |
2,526,837 | (2,741,987) | (215,150) | |
Leasehold |
|
Plant & Machinery |
|
Motor Vehicles |
|
Fixtures & Fittings |
|
Computer Equipment |
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Grant income | - |
|
|
- | 2,185 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bad debts | 48,760 | (7,625) | |
Depreciation of tangible fixed assets |
|
|
|
Amortisation of intangible fixed assets |
|
|
|
Profit on disposal of tangible fixed assets |
( |
( |
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
|
|
|
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Wages and salaries |
|
|
|
|
|||
Social security costs |
|
|
|
|
|||
Other pension costs |
|
|
|
|
|||
|
|
|
|
||||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank interest receivable |
|
|
|
Deposit account interest | 1,029 | 21,148 | |
Interest from other current asset investments - listed | - | 25,400 | |
5,005 | 46,548 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank loans and overdrafts |
|
|
|
Finance charges payable under finance leases and hire purchase contracts | 43,062 | 17,456 | |
45,525 | 19,388 | ||
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% | 21.0% |
|
|
|
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 | 1,994,595 | 1,932,105 | |||
Tax on profit at 25% (UK standard rate) |
|
|
|||
Expenses not deductible for tax purposes |
|
|
|||
Capital allowances |
( |
( |
|||
Short term timing differences |
|
|
|||
Overseas tax suffered/expensed |
( |
( |
|||
Total tax charge for the period | 541,900 | 377,733 | |||
Goodwill | |||
---|---|---|---|
£ | |||
Cost | |||
As at 1 August 2023 |
|
||
Additions |
|
||
As at 31 July 2024 |
|
||
Amortisation | |||
As at 1 August 2023 |
|
||
Provided during the period |
|
||
As at 31 July 2024 |
|
||
Net Book Value | |||
As at 31 July 2024 |
|
||
As at 1 August 2023 |
|
||
Land & Property | ||||
---|---|---|---|---|
Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
£ | £ | £ | £ | |
Cost | ||||
As at 1 August 2023 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
|
( |
( |
|
Transfers |
|
|
|
|
As at 31 July 2024 |
|
|
|
|
Depreciation | ||||
As at 1 August 2023 |
|
|
|
|
Provided during the period |
|
|
|
|
Disposals |
|
( |
( |
|
As at 31 July 2024 |
|
|
|
|
Net Book Value | ||||
As at 31 July 2024 |
|
|
|
|
As at 1 August 2023 |
|
|
|
|
Computer Equipment | Total | |
---|---|---|
£ | £ | |
Cost | ||
As at 1 August 2023 |
|
|
Additions |
|
|
Disposals |
( |
( |
Transfers |
|
|
As at 31 July 2024 |
|
|
Depreciation | ||
As at 1 August 2023 |
|
|
Provided during the period |
|
|
Disposals |
( |
( |
As at 31 July 2024 |
|
|
Net Book Value | ||
As at 31 July 2024 |
|
|
As at 1 August 2023 |
|
|
Land & Property | ||||
---|---|---|---|---|
Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
£ | £ | £ | £ | |
Cost | ||||
As at 1 August 2023 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
|
( |
( |
|
As at 31 July 2024 |
|
|
|
|
Depreciation | ||||
As at 1 August 2023 |
|
|
|
|
Provided during the period |
|
|
|
|
Disposals |
|
( |
( |
|
As at 31 July 2024 |
|
|
|
|
Net Book Value | ||||
As at 31 July 2024 |
|
|
|
|
As at 1 August 2023 |
|
|
|
|
Computer Equipment | Total | |
---|---|---|
£ | £ | |
Cost | ||
As at 1 August 2023 |
|
|
Additions |
|
|
Disposals |
( |
( |
As at 31 July 2024 |
|
|
Depreciation | ||
As at 1 August 2023 |
|
|
Provided during the period |
|
|
Disposals |
( |
( |
As at 31 July 2024 |
|
|
Net Book Value | ||
As at 31 July 2024 |
|
|
As at 1 August 2023 |
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Plant & Machinery |
|
|
|
Motor Vehicles |
|
|
|
|
|
||
Other | |
---|---|
£ | |
Cost | |
As at 1 August 2023 |
|
Additions |
|
As at 31 July 2024 |
|
Provision | |
As at 1 August 2023 |
|
As at 31 July 2024 |
|
Net Book Value | |
As at 31 July 2024 |
|
As at 1 August 2023 |
|
Subsidiaries | Other | Total | |
---|---|---|---|
£ | £ | £ | |
Cost | |||
As at 1 August 2023 |
|
|
|
Additions |
|
|
|
Disposals |
( |
|
( |
As at 31 July 2024 |
|
|
|
Provision | |||
As at 1 August 2023 |
|
|
- |
As at 31 July 2024 |
|
|
- |
Net Book Value | |||
As at 31 July 2024 |
|
|
|
As at 1 August 2023 |
|
|
|
Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
---|---|---|---|---|
|
Cloughfern Avenue,BT37 0UZ |
|
|
- |
|
37 Colinglen Road BT17 0LP |
|
|
- |
|
37 Colinglen Road BT17 0LP |
|
|
- |
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Stock |
|
|
|
|
|||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Due within one year | |||||||
Trade debtors |
|
|
|
|
|||
Prepayments and accrued income |
|
|
|
|
|||
Other debtors |
( |
|
( |
|
|||
Directors' loan accounts |
|
|
|
|
|||
|
|
|
|
Due after more than one year | |||||||
Other debtors |
|
|
|
|
|||
Corporation tax recoverable assets |
|
|
|
|
|||
Amounts owed by group undertakings | - | - | - |
|
|||
|
|
|
|
||||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
Trade creditors |
|
|
|
|
|||
Other creditors | 7,048 | 79,304 | 5,674 | 79,304 | |||
Corporation tax |
|
|
|
|
|||
Taxation and social security | 376,165 | 183,714 | 223,489 | 183,714 | |||
Accruals and deferred income |
|
|
|
|
|||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
Amounts owed to group undertakings | - | - |
|
|
|||
Other creditors | 1,374,200 | 1,445,200 | 1,374,200 | 1,446,200 | |||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 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 |
|
|
|
|
|||
|
|
|
|
||||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Other timing differences | 696,523 | 476,116 | 548,734 | 476,116 | |||
Group | ||
---|---|---|
Deferred Tax | Total | |
£ | £ | |
As at 1 August 2023 |
|
476,116 |
Additions |
|
220,407 |
Balance at 31 July 2024 |
|
696,523 |
Company | ||
---|---|---|
Deferred Tax | Total | |
£ | £ | |
As at 1 August 2023 |
|
476,116 |
Deferred taxation |
|
|
Balance at 31 July 2024 |
|
548,734 |
Net assets acquired | |||
Book Values | Adjustments | Fair Value | |
---|---|---|---|
£ | £ | £ | |
Tangible Assets | 658,793 | - |
|
Stocks | 303,598 | - |
|
Debtors | 1,193,233 | - |
|
Cash at bank and in hand | 672,365 | - |
|
Creditors: Amounts falling due within one year | (650,668) | - |
( |
Deferred taxation | (158,935) | - |
( |
Total identifiable net assets | 2,018,386 | - |
|
Goodwill |
|
||
Total Consideration |
|
||
The consideration was satisfied by: | |||
Cash consideration paid |
|
||
Costs directly attributable to the business combination | 48,553 | ||
Total Consideration |
|
||
As at 1 August 2023 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 July 2024 | |
---|---|---|---|---|---|
£ | £ | £ | £ | £ | |
Mr Daniel McIlroy |
|
|
|
- |
|
Mr Franklin McIlroy |
|
|
|
- |
|
Mr Samuel McIlroy |
|
|
|
- |
|
Mr David McIlroy |
|
|
|
- |
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Interim dividend paid |
|
|
|
Final dividend paid |
|
|
|
176,750 | 74,250 | ||