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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 statement of comprehensive income |
9 |
Consolidated statement of financial position |
10 |
Company statement of financial position |
11 |
Consolidated statement of changes in equity |
12 |
Company statement of changes in equity |
14 |
Consolidated statement of cash flows |
15 |
Notes to the financial statements |
16 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Auditor |
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Chartered Accountants & statutory auditor |
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269 Farnborough Road |
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Farnborough |
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Hampshire |
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GU14 7LY |
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Strategic Report |
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Director |
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Directors' Report |
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Director |
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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 |
269 Farnborough Road |
Farnborough |
Hampshire |
GU14 7LY |
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Consolidated Statement of Comprehensive Income |
2024 |
2023 |
||
Note |
£ |
£ |
|
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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Gain on financial assets at fair value through profit or loss |
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Income from other fixed asset investments |
10 |
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Other interest receivable and similar income |
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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Foreign currency retranslation |
|
(
|
------------ |
------------ |
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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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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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Consolidated Statement of Financial Position |
2024 |
2023 |
|
Note |
£ |
£ |
Intangible assets |
14 |
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Tangible assets |
15 |
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------------- |
------------- |
||
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Stocks |
17 |
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Debtors |
18 |
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Investments |
19 |
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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 |
20 |
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------------- |
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Net current assets |
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------------- |
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Total assets less current liabilities |
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Provisions |
21 |
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------------- |
------------- |
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Net assets |
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------------- |
------------- |
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Called up share capital |
25 |
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Revaluation reserve |
26 |
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Capital redemption reserve |
26 |
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Profit and loss account |
26 |
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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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Director |
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Company Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
Tangible assets |
15 |
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Investments |
16 |
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------------ |
------------ |
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Debtors |
18 |
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Investments |
19 |
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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 |
20 |
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------------ |
------------ |
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Net current assets |
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------------- |
------------- |
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Total assets less current liabilities |
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Provisions |
21 |
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------------- |
------------- |
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Net assets |
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------------- |
------------- |
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Called up share capital |
25 |
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Revaluation reserve |
26 |
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Capital redemption reserve |
26 |
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Profit and loss account |
26 |
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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 |
Capital redemption reserve |
Profit and loss account |
Equity attributable to the owners of the parent company |
Non-controlling interests |
Total |
|||
£ |
£ |
£ |
£ |
£ |
£ |
£ |
|||
At 1 October 2022 |
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Profit for the year |
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Other comprehensive income for the year: |
|||||||||
Foreign currency retranslation |
– |
– |
– |
(
|
(
|
– |
(
|
||
-------- |
------------ |
------- |
------------- |
------------- |
--------- |
------------- |
|||
Total comprehensive income for the year |
– |
– |
– |
|
|
|
|
||
Dividends paid and payable |
13 |
– |
– |
– |
(
|
(
|
– |
(
|
|
-------- |
------------ |
------- |
------------- |
------------- |
--------- |
------------- |
|||
Total investments by and distributions to owners |
– |
– |
– |
(
|
(
|
– |
(
|
||
At 30 September 2023 |
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Profit for the year |
|
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|
|||||
Other comprehensive income for the year: |
|||||||||
Foreign currency retranslation |
– |
– |
– |
|
|
– |
|
||
-------- |
------------ |
------- |
------------- |
------------- |
--------- |
------------- |
|||
Total comprehensive income for the year |
– |
– |
– |
|
|
|
|
||
|
Consolidated Statement of Changes in Equity (continued) |
Called up share capital |
Revaluation reserve |
Capital redemption reserve |
Profit and loss account |
Equity attributable to the owners of the parent company |
Non-controlling interests |
Total |
||
£ |
£ |
£ |
£ |
£ |
£ |
£ |
||
Dividends paid and payable |
13 |
– |
– |
– |
(
|
(
|
– |
(
|
---- |
---- |
---- |
--------- |
--------- |
---- |
--------- |
||
Total investments by and distributions to owners |
– |
– |
– |
(
|
(
|
– |
(
|
|
-------- |
------------ |
------- |
------------- |
------------- |
--------- |
------------- |
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At 30 September 2024 |
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-------- |
------------ |
------- |
------------- |
------------- |
--------- |
------------- |
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Company Statement of Changes in Equity |
Called up share capital |
Revaluation reserve |
Capital redemption reserve |
Profit and loss account |
Total |
||
£ |
£ |
£ |
£ |
£ |
||
At 1 October 2022 |
|
|
|
|
|
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Loss for the year |
(
|
(
|
||||
-------- |
------------ |
------- |
------------ |
------------- |
||
Total comprehensive income for the year |
– |
– |
– |
(
|
(
|
|
Dividends paid and payable |
13 |
– |
– |
– |
(
|
(
|
-------- |
------------ |
------- |
------------ |
------------- |
||
Total investments by and distributions to owners |
– |
– |
– |
(
|
(
|
|
At 30 September 2023 |
|
|
|
|
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|
Profit for the year |
|
|
||||
-------- |
------------ |
------- |
------------ |
------------- |
||
Total comprehensive income for the year |
– |
– |
– |
|
|
|
Dividends paid and payable |
13 |
– |
– |
– |
(
|
(
|
---- |
---- |
---- |
--------- |
--------- |
||
Total investments by and distributions to owners |
– |
– |
– |
(
|
(
|
|
-------- |
------------ |
------- |
------------ |
------------- |
||
At 30 September 2024 |
|
|
|
|
|
|
-------- |
------------ |
------- |
------------ |
------------- |
||
|
Consolidated Statement of Cash Flows |
2024 |
2023 |
|
£ |
£ |
|
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Amortisation of intangible assets |
|
|
Gain on financial assets at fair value through profit or loss |
(384,045) |
(207,268) |
Income from other fixed asset investments |
(
|
(
|
Other interest receivable and similar income |
(
|
(
|
Gains on disposal of tangible assets |
(
|
– |
Tax on profit/(loss) |
|
|
Accrued expenses/(income) |
|
(
|
Other operating cash flow adjustment |
365,881 |
(959,642) |
Changes in: |
||
Stocks |
|
|
Trade and other debtors |
|
|
Trade and other creditors |
(
|
(
|
------------ |
------------ |
|
Cash generated from operations |
|
|
Interest received |
|
|
Tax paid |
(
|
(
|
------------ |
------------ |
|
Net cash from operating activities |
|
|
------------ |
------------ |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
|
|
Purchases of other investments |
(
|
(
|
Proceeds from sale of other investments |
|
|
Dividends received |
|
|
------------ |
------------ |
|
Net cash used in investing activities |
(
|
(
|
------------ |
------------ |
|
Proceeds from borrowings |
– |
(
|
Dividends paid |
(
|
(
|
------------ |
------------ |
|
Net cash used in financing activities |
(
|
(
|
------------ |
------------ |
|
Net increase in cash and cash equivalents |
|
|
Cash and cash equivalents at beginning of year |
14,502,634 |
10,285,755 |
------------- |
------------- |
|
Cash and cash equivalents at end of year |
|
|
------------- |
------------- |
|
|
Notes to the Financial Statements |
Patents, trademarks and licences |
- |
|
|
Freehold property |
- |
|
|
Plant and machinery |
- |
|
|
2024 |
2023 |
|
£ |
£ |
|
Sale of goods |
|
|
------------- |
------------- |
|
2024 |
2023 |
|
£ |
£ |
|
United Kingdom |
|
|
Overseas sales |
|
|
------------- |
------------- |
|
|
|
|
------------- |
------------- |
|
2024 |
2023 |
||
£ |
£ |
||
Rest of Europe |
22,639,089 |
23,105,841 |
|
North America |
10,614,247 |
11,735,065 |
|
Rest of the world |
15,817,492 |
15,723,102 |
|
------------- |
------------- |
||
TOTAL |
49,070,828 |
50,564,008 |
|
------------- |
------------- |
||
2024 |
2023 |
|
£ |
£ |
|
Rental income |
|
|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
|
Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
|
– |
Foreign exchange differences |
|
(
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
Other non-audit services |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
No. |
No. |
|
Production staff |
|
|
Administrative staff |
|
|
---- |
---- |
|
|
|
|
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Wages and salaries |
|
|
Other pension costs |
|
|
------------- |
------------- |
|
|
|
|
------------- |
------------- |
|
2024 |
2023 |
|
£ |
£ |
|
Remuneration |
|
|
Company contributions to defined contribution pension plans |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2024 |
2023 |
|
No. |
No. |
|
Defined contribution plans |
|
|
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
|
Aggregate remuneration |
|
|
Company contributions to defined contribution pension plans |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Dividends from other fixed asset investments |
42,302 |
39,102 |
(Gain)/loss on disposal of other fixed asset investments |
1,493 |
156,402 |
-------- |
--------- |
|
|
|
|
-------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
|
Interest on bank deposits |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
UK current tax income |
|
|
Tax on profit/(loss) |
|
|
--------- |
--------- |
|
2024 | 2023 | ||
£ | £ | ||
Overseas taxation | 425,324 | 541,527 | |
--------- | --------- | ||
2024 |
2023 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
------------ |
------------ |
|
Profit on ordinary activities by rate of tax |
|
|
Adjustments in respect of differing tax rates |
(
|
(
|
------------ |
------------ |
|
Tax on profit/(loss) |
|
|
------------ |
------------ |
|
2024 |
2023 |
|
£ |
£ |
|
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
|
|
--------- |
--------- |
|
Group |
Patents, trademarks and licences |
£ |
|
Cost |
|
At 1 October 2023 and 30 September 2024 |
|
--------- |
|
Amortisation |
|
At 1 October 2023 |
|
Charge for the year |
|
--------- |
|
At 30 September 2024 |
|
--------- |
|
Carrying amount |
|
At 30 September 2024 |
|
--------- |
|
At 30 September 2023 |
|
--------- |
|
Group |
Freehold property |
Plant and machinery |
Freehold Woodland |
Total |
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 October 2023 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
– |
(
|
– |
(
|
Exchange adjustments |
(
|
|
– |
|
------------- |
------------- |
--------- |
------------- |
|
At 30 September 2024 |
|
|
|
|
------------- |
------------- |
--------- |
------------- |
|
Depreciation |
||||
At 1 October 2023 |
|
|
– |
|
Charge for the year |
|
|
– |
|
Disposals |
– |
(
|
– |
(
|
Exchange adjustments |
(
|
(
|
– |
(
|
------------- |
------------- |
--------- |
------------- |
|
At 30 September 2024 |
|
|
– |
|
------------- |
------------- |
--------- |
------------- |
|
Carrying amount |
||||
At 30 September 2024 |
|
|
|
|
------------- |
------------- |
--------- |
------------- |
|
At 30 September 2023 |
|
|
|
|
------------- |
------------- |
--------- |
------------- |
|
Company |
Freehold property |
Plant and machinery |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 October 2023 |
|
|
|
|
Additions |
– |
– |
|
|
Disposals |
– |
– |
(
|
(
|
------------- |
------- |
--------- |
------------- |
|
At 30 September 2024 |
|
|
|
|
------------- |
------- |
--------- |
------------- |
|
Depreciation |
||||
At 1 October 2023 |
|
|
|
|
Charge for the year |
|
– |
|
|
Disposals |
– |
– |
(
|
(
|
------------- |
------- |
--------- |
------------- |
|
At 30 September 2024 |
|
|
|
|
------------- |
------- |
--------- |
------------- |
|
Carrying amount |
||||
At 30 September 2024 |
|
|
|
|
------------- |
------- |
--------- |
------------- |
|
At 30 September 2023 |
|
|
|
|
------------- |
------- |
--------- |
------------- |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 October 2023 and 30 September 2024 |
|
--------- |
|
Impairment |
|
At 1 October 2023 and 30 September 2024 |
– |
--------- |
|
Carrying amount |
|
At 1 October 2023 and 30 September 2024 |
|
--------- |
|
At 30 September 2023 |
|
--------- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
80 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Raw materials and consumables |
|
|
– |
– |
Work in progress |
|
|
– |
– |
Finished goods and goods for resale |
|
|
– |
– |
------------- |
------------- |
---- |
---- |
|
|
|
– |
– |
|
------------- |
------------- |
---- |
---- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
|
|
Amounts owed by group undertakings |
– |
– |
|
– |
Prepayments and accrued income |
|
|
– |
– |
Other debtors |
|
|
|
|
------------- |
------------- |
--------- |
--------- |
|
|
|
|
|
|
------------- |
------------- |
--------- |
--------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Other investments |
3,767,829 |
3,347,202 |
3,767,829 |
3,347,202 |
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade creditors |
|
|
|
|
Amounts owed to group undertakings |
– |
– |
|
|
Accruals and deferred income |
|
|
|
|
Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
|
|
|
Dividends payable |
– |
|
– |
|
Other creditors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Deferred tax (note 22) |
£ |
|
At 1 October 2023 |
|
Additions |
|
-------- |
|
At 30 September 2024 |
|
-------- |
|
Company |
Deferred tax (note 22) |
£ |
|
At 1 October 2023 |
|
-------- |
|
At 30 September 2024 |
|
-------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 21) |
|
|
|
|
-------- |
-------- |
-------- |
-------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
Revaluation of tangible assets |
|
|
|
|
-------- |
-------- |
-------- |
-------- |
|
38,583 |
34,418 |
25,718 |
25,718 |
|
-------- |
-------- |
-------- |
-------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Financial assets measured at fair value through profit or loss |
3,767,829 |
3,347,202 |
3,767,829 |
3,347,202 |
------------ |
------------ |
------------ |
------------ |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
24,000 |
|
24,000 |
-------- |
-------- |
-------- |
-------- |
|
At 1 Oct 2023 |
Cash flows |
At 30 Sep 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
2,327,375 |
|
Current asset investments |
|
420,627 |
|
------------- |
------------ |
------------- |
|
|
|
|
|
------------- |
------------ |
------------- |
|
|
Notes to the Financial Statements (continued) |