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FOR THE YEAR ENDED |
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FINANCIAL STATEMENTS |
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CONTENTS |
PAGE |
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Officers and professional advisers |
1 |
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Strategic report |
2 |
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Directors' report |
3 |
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Independent auditor's report to the members |
5 |
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Statement of comprehensive income |
9 |
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Statement of financial position |
10 |
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Statement of changes in equity |
11 |
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Statement of cash flows |
12 |
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Notes to the financial statements |
13 |
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OFFICERS AND PROFESSIONAL ADVISERS |
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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 Certified Accountants & statutory auditor |
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106-107 Dowgate Hill House |
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14-16 Dowgate Hill |
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London |
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EC4R 2SU |
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Bankers |
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1 Churchill Place |
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London |
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E14 5HP |
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STRATEGIC REPORT |
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Director |
Director |
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Registered office: |
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DIRECTORS' REPORT |
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(Resigned
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Director |
Director |
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Registered office: |
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
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(Senior Statutory Auditor) |
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For and on behalf of |
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Chartered Certified Accountants & statutory auditor |
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106-107 Dowgate Hill House |
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14-16 Dowgate Hill |
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London |
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EC4R 2SU |
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STATEMENT OF COMPREHENSIVE INCOME |
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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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(
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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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PROFIT BEFORE TAXATION |
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Tax on profit |
12 |
(
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(
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-------- |
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PROFIT FOR THE FINANCIAL YEAR |
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-------- |
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Reclassification from revaluation reserve to profit and loss account |
– |
(
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TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
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-------- |
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STATEMENT OF FINANCIAL POSITION |
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2024 |
2023 |
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Note |
£ |
£ |
£ |
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Tangible assets |
13 |
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Debtors |
14 |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
15 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Taxation including deferred tax |
16 |
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NET ASSETS |
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Called up share capital |
19 |
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Profit and loss account |
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SHAREHOLDERS FUNDS |
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Director |
Director |
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STATEMENT OF CHANGES IN EQUITY |
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Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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AT 1st SEPTEMBER 2022 |
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Profit for the year |
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Other comprehensive income for the year: |
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Reclassification from revaluation reserve to profit and loss account |
– |
(
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(
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TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
– |
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AT 31st AUGUST 2023 |
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Profit for the year |
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TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
– |
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AT 31st AUGUST 2024 |
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STATEMENT OF CASH FLOWS |
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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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Fair value adjustment of investment property |
– |
(
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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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Gains on disposal of tangible assets |
(
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(
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Tax on profit |
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Accrued expenses/(income) |
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(
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Changes in: |
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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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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 from investing activities |
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NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS |
(
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CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |
2,522,738 |
2,033,339 |
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CASH AND CASH EQUIVALENTS AT END OF YEAR |
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NOTES TO THE FINANCIAL STATEMENTS |
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Freehold property |
- |
2% on cost of buildings
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Motor vehicles |
- |
25% reducing balance
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Office equipment |
- |
25% reducing balance
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2024 |
2023 |
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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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£ |
£ |
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West Africa - by destination |
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------------- |
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2024 |
2023 |
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£ |
£ |
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Rental income |
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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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Gains on disposal of tangible assets |
(
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(
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Fair value adjustments to investment property |
– |
(
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Impairment of trade debtors |
– |
14,234 |
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Foreign exchange differences |
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(
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-------- |
--------- |
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2024 |
2023 |
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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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Audit-related assurance services |
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Other non-audit services |
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------- |
------- |
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8,000 |
7,750 |
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------- |
------- |
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2024 |
2023 |
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No. |
No. |
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Administrative staff |
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Management staff |
2 |
3 |
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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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Other interest payable and similar charges |
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------- |
------- |
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2024 |
2023 |
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£ |
£ |
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UK current tax expense |
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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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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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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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Capital gain on sale of property |
– |
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Fair value gain on investment properties |
– |
(33,285)
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Other timing differences |
(
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(551)
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-------- |
--------- |
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Tax on profit |
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-------- |
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Freehold property |
Motor vehicles |
Equipment |
Investment properties |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1st September 2023 |
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Additions |
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– |
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– |
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Disposals |
– |
(
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– |
– |
(
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--------- |
-------- |
-------- |
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At 31st August 2024 |
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--------- |
-------- |
-------- |
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Depreciation |
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At 1st September 2023 |
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– |
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Charge for the year |
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– |
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Disposals |
– |
(
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– |
– |
(
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--------- |
-------- |
-------- |
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At 31st August 2024 |
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– |
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--------- |
-------- |
-------- |
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Carrying amount |
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At 31st August 2024 |
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--------- |
-------- |
-------- |
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--------- |
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At 31st August 2023 |
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--------- |
-------- |
-------- |
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--------- |
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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------------ |
------------ |
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------------ |
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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------------ |
------------ |
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------------ |
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Deferred tax (note 17) |
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£ |
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At 1st September 2023 |
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Additions |
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------- |
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At 31st August 2024 |
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------- |
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2024 |
2023 |
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£ |
£ |
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Included in provisions (note 16) |
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------- |
------- |
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2024 |
2023 |
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£ |
£ |
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Accelerated capital allowances |
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------- |
------- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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250,000 |
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250,000 |
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--------- |
--------- |
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At 1 Sep 2023 |
Cash flows |
At 31 Aug 2024 |
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£ |
£ |
£ |
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Cash at bank and in hand |
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(415,173) |
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------------ |
--------- |
------------ |
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