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2024
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2023
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Turnover
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11,088,287
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10,294,416
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GP %
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46.89%
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52,.61%
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NP %
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7.18%
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23.51%
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Current Ratio
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2.52 : 1
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2.87 : 1
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Director
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22/05/2025
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Director
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for and on behalf of
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Chartered Certified Accountants
56 English Street
Armagh
Co Armagh
BT61 7LG
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| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| TURNOVER |
|
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||
| Cost of sales |
( |
( |
||
| GROSS PROFIT |
|
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||
| Distribution costs |
( |
( |
||
| Administrative expenses |
( |
( |
||
| OPERATING PROFIT | 3 |
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| Profit on disposal of fixed assets |
|
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||
| Other interest receivable and similar income | 8 |
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| Interest payable and similar charges | 9 |
( |
( |
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| PROFIT BEFORE TAXATION |
|
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||
| Tax on Profit | 10 |
( |
( |
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| PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| PROFIT FOR THE FINANCIAL YEAR |
|
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||
| OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
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| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 11 |
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| CURRENT ASSETS | |||||
| Stocks | 12 |
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| Debtors | 13 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 14 |
( |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 15 |
( |
( |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 18 |
( |
( |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 20 |
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| Capital redemption reserve |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 7,219,980 | 6,625,198 | |||
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Director
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| Share Capital | Capital Redemption | Profit and Loss Account | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| As at 1 September 2022 |
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5,615,072 |
| Profit for the year and total comprehensive income | - | - |
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2,010,126 |
| Dividends paid | - | - | (1,000,000) | (1,000,000) |
| As at 31 August 2023 and 1 September 2023 |
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6,625,198 |
| Profit for the year and total comprehensive income | - | - |
|
594,782 |
| As at 31 August 2024 |
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7,219,980 |
| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| Cash flows from operating activities | ||||
| Net cash generated from operations | 1 |
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| Interest paid |
( |
( |
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| Tax paid |
( |
( |
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| Net cash generated from operating activities |
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| Cash flows from investing activities | ||||
| Purchase of tangible assets |
( |
( |
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| Proceeds from disposal of tangible assets |
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| Interest received |
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| Net cash generated from/(used in) investing activities |
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( |
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| Cash flows from financing activities | ||||
| Equity dividends paid |
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( |
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| Repayment of bank borrowings |
( |
( |
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| Repayment of other loans | (405) | 157 | ||
| Repayment of finance leases |
( |
( |
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| Amount withdrawn by directors | (335,294) | (1,814,156) | ||
| Net cash used in financing activities |
( |
( |
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| Increase/(decrease) in cash and cash equivalents |
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( |
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| Cash and cash equivalents at beginning of year | 2 |
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| Cash and cash equivalents at end of year | 2 |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Profit for the financial year |
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| Adjustments for: | |||
| Tax on profit |
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| Interest expense |
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| Interest income |
( |
( |
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| Depreciation of tangible assets |
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| Profit on disposal of tangible assets | (25,150) | (8,658) | |
| Movements in working capital: | |||
| (Increase)/decrease in stocks |
( |
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| (Increase)/decrease in trade and other debtors |
( |
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| Increase in trade and other creditors |
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| Net cash generated from operations |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Cash at bank and in hand |
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| As at 1 September 2023 | Cash flows | As at 31 August 2024 | |
|---|---|---|---|
| £ | £ | £ | |
| Cash at bank and in hand |
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1,400,068 |
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| Finance leases | (514) | 514 | - |
| Debts falling due within one year |
( |
(4,163) |
( |
| Debts falling due after more than one year | (178,746) | 117,976 | (60,770) |
| 5,340,610 | 1,514,395 | 6,855,005 | |
| Freehold |
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| Leasehold |
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| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | 20,700 | 1,082 | |
| Depreciation of tangible fixed assets |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
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| Other pension costs |
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| 2024 | 2023 | ||
|---|---|---|---|
| Office and administration |
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| Production |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
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| Company contributions to money purchase pension schemes |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
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| Company contributions to defined benefit pension schemes |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
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| Other interest | 16,631 | 17,126 | |
| 186,627 | 102,707 | ||
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Interest payable on other loans |
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| Finance charges payable under finance leases and hire purchase contracts | - | 1,244 | |
| 12,004 | 11,387 | ||
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The tax charge on the profit for the year was as follows:
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| Tax Rate | 2024 | 2023 | |||
|---|---|---|---|---|---|
| 2024 | 2023 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
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| Deferred Tax | |||||
| Deferred taxation |
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| Total tax charge for the period |
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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:
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| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 796,668 | 2,419,998 | |||
| Tax on profit at 25% (UK standard rate) |
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| Goodwill/depreciation not allowed for tax |
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| Expenses not deductible for tax purposes |
( |
( |
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| Capital allowances |
( |
( |
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| Short term timing differences |
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| Difference in tax rates |
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| Total tax charge for the period | 201,886 | 409,872 | |||
| Land & Property | |||||
|---|---|---|---|---|---|
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 September 2023 |
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| Additions |
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| Disposals |
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( |
( |
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( |
| As at 31 August 2024 |
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| Depreciation | |||||
| As at 1 September 2023 |
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| Provided during the period |
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| Disposals |
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( |
( |
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( |
| As at 31 August 2024 |
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| Net Book Value | |||||
| As at 31 August 2024 |
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| As at 1 September 2023 |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Motor Vehicles |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Raw Materials |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Staff Loans |
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| VAT |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts | - |
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| Trade creditors |
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| Bank loans and overdrafts |
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| Other loans |
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| Corporation tax |
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| Other taxes and social security |
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| Net wages | 18,807 | - | |
| Pension contributions |
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| Accruals and deferred income |
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| Directors' loan accounts |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year or on demand: | |||
| Bank loans |
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| Other loans |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due between one and five years: | |||
| Bank loans |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year | - |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 164,917 | 148,230 | |
| Deferred Tax | Total | |
|---|---|---|
| £ | £ | |
| As at 1 September 2023 |
|
148,230 |
| Additions |
|
16,687 |
| Balance at 31 August 2024 |
|
164,917 |
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Final dividend paid | - |
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