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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 |
4 |
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Independent auditor's report to the members |
7 |
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Statement of comprehensive income |
11 |
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Statement of financial position |
12 |
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Statement of changes in equity |
14 |
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Statement of cash flows |
15 |
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Notes to the financial statements |
16 |
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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 Accountants & Statutory Auditor |
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28 Rutland Square |
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Edinburgh |
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EH1 2BW |
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Strategic Report |
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Director |
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Registered office: |
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Directors' Report |
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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 Accountants & Statutory Auditor |
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28 Rutland Square |
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Edinburgh |
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EH1 2BW |
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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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Other operating income |
5 |
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------------- |
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Operating 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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Profit before taxation |
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Tax on profit |
12 |
(
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--------- |
---------- |
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Profit for the financial year and total comprehensive income |
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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 |
15 |
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Stocks |
16 |
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Debtors |
17 |
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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 |
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Bank loans and overdrafts |
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Trade creditors |
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Other creditors including taxation and social security |
19 |
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Accruals and deferred income |
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------------- |
------------- |
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Net current liabilities |
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------------- |
------------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
20 |
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Bank loans and overdrafts |
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Other creditors including taxation and social security |
21 |
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– |
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Taxation including deferred tax |
23 |
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Net assets |
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Statement of Financial Position (continued) |
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2024 |
2023 |
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Note |
£ |
£ |
£ |
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Called up share capital |
26 |
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Revaluation reserve |
27 |
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Profit and loss account |
27 |
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Shareholders funds |
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Director |
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Statement of Changes in Equity |
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Called up share capital |
Revaluation reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 May 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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---------- |
------------- |
------------- |
------------- |
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Total comprehensive income for the year |
– |
(
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Dividends paid and payable |
13 |
– |
– |
(
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(
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---------- |
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------------- |
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Total investments by and distributions to owners |
– |
– |
(
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(
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At 30 April 2023 |
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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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---------- |
------------- |
------------- |
------------- |
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Total comprehensive income for the year |
– |
(
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Dividends paid and payable |
13 |
– |
– |
(
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(
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---- |
---- |
---------- |
---------- |
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Total investments by and distributions to owners |
– |
– |
(
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(
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---------- |
------------- |
------------- |
------------- |
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At 30 April 2024 |
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---------- |
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------------- |
------------- |
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Statement of Cash Flows |
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2024 |
2023 |
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Note |
£ |
£ |
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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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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 income |
(
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(
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Changes in: |
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Stocks |
(
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(
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Trade and other debtors |
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(
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Trade and other creditors |
(
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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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Net cash from operating activities |
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---------- |
---------- |
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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 used in investing activities |
(
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(
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---------- |
------------- |
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Proceeds from borrowings |
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(
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Payments of finance lease liabilities |
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– |
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Dividends paid |
(
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(
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---------- |
------------- |
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Net cash from/(used in) financing activities |
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(
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---------- |
------------- |
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Net increase/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
(525,947) |
21,788 |
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---------- |
---------- |
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Cash and cash equivalents at end of year |
18 |
(
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(
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---------- |
---------- |
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Notes to the Financial Statements |
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Goodwill |
- |
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Property |
- |
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Fixtures & Fittings |
- |
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Motor Vehicles |
- |
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Solar Panels |
- |
4
% straight line |
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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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Rental income |
|
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Management charges receivable |
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ATM income |
2,755 |
5,311 |
|
---------- |
---------- |
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|
---------- |
---------- |
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|
2024 |
2023 |
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|
£ |
£ |
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Depreciation of tangible assets |
|
|
|
Gains on disposal of tangible assets |
(
|
(
|
|
---------- |
---------- |
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|
2024 |
2023 |
|
|
£ |
£ |
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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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Distribution staff |
|
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Administrative staff |
|
|
|
---- |
---- |
|
|
|
|
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|
---- |
---- |
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2024 |
2023 |
|
|
£ |
£ |
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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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--------- |
--------- |
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2024 |
2023 |
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|
£ |
£ |
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Interest on cash and cash equivalents |
|
|
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Gain on financial instruments |
– |
65,400 |
|
---- |
--------- |
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---- |
--------- |
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|
2024 |
2023 |
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|
£ |
£ |
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Interest on banks loans and overdrafts |
|
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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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Origination and reversal of timing differences |
(
|
|
|
---- |
--------- |
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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 capital allowances and depreciation |
|
(
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|
Notional tax on revalued property |
(63,792) |
60,435 |
|
--------- |
---------- |
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Tax on profit |
(
|
|
|
--------- |
---------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Dividends on equity shares |
|
|
|
---------- |
---------- |
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Goodwill |
|
|
£ |
|
|
Cost |
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|
At 1 May 2023 and 30 April 2024 |
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|
---------- |
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Amortisation |
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At 1 May 2023 and 30 April 2024 |
|
|
---------- |
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Carrying amount |
|
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At 30 April 2024 |
– |
|
---------- |
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|
At 30 April 2023 |
– |
|
---------- |
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|
Freehold property |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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|
£ |
£ |
£ |
£ |
£ |
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|
Cost |
|||||
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At 1 May 2023 |
|
|
|
274,000 |
|
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Additions |
|
|
|
– |
|
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Disposals |
(
|
– |
– |
– |
(
|
|
------------- |
------------- |
---------- |
---------- |
------------- |
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|
At 30 April 2024 |
|
|
|
274,000 |
|
|
------------- |
------------- |
---------- |
---------- |
------------- |
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Depreciation |
|||||
|
At 1 May 2023 |
|
|
|
1,827 |
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|
Charge for the year |
|
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|
10,960 |
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Disposals |
(
|
– |
– |
– |
(
|
|
------------- |
------------- |
---------- |
---------- |
------------- |
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|
At 30 April 2024 |
|
|
|
12,787 |
|
|
------------- |
------------- |
---------- |
---------- |
------------- |
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|
Carrying amount |
|||||
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At 30 April 2024 |
|
|
|
261,213 |
|
|
------------- |
------------- |
---------- |
---------- |
------------- |
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At 30 April 2023 |
|
|
|
272,173 |
|
|
------------- |
------------- |
---------- |
---------- |
------------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Finished goods and goods for resale |
|
|
|
------------- |
---------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
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Trade debtors |
|
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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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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Cash at bank and in hand |
|
|
|
Bank overdrafts |
(
|
(
|
|
---------- |
---------- |
|
|
(
|
(
|
|
|
---------- |
---------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
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Social security and other taxes |
|
|
|
Obligations under finance leases |
|
– |
|
Director loan accounts |
|
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Other creditors |
|
|
|
---------- |
---------- |
|
|
|
|
|
|
---------- |
---------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Obligations under finance leases |
|
– |
|
---------- |
---- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Not later than 1 year |
|
– |
|
Later than 1 year and not later than 5 years |
|
– |
|
---------- |
---- |
|
|
|
– |
|
|
---------- |
---- |
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Deferred tax (note 24) |
|
|
£ |
|
|
At 1 May 2023 |
|
|
Additions |
(
|
|
---------- |
|
|
At 30 April 2024 |
|
|
---------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Included in provisions (note 23) |
|
|
|
---------- |
---------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
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Accelerated capital allowances |
|
|
|
Fair value adjustment of investment property |
|
|
|
---------- |
---------- |
|
|
312,485 |
313,054 |
|
|
---------- |
---------- |
|
|
2024 |
2023 |
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No. |
£ |
No. |
£ |
|
|
|
135,000 |
135,000 |
135,000 |
135,000 |
|
|
5,000 |
5,000 |
5,000 |
5,000 |
|
---------- |
---------- |
---------- |
---------- |
|
|
140,000 |
140,000 |
140,000 |
140,000 |
|
|
---------- |
---------- |
---------- |
---------- |
|
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
135,000 |
|
135,000 |
|
|
|
5,000 |
|
5,000 |
|
---------- |
---------- |
---------- |
---------- |
|
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|
---------- |
---------- |
---------- |
---------- |
|
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At 1 May 2023 |
Cash flows |
At 30 Apr 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
1,035 |
|
|
Bank overdrafts |
(562,181) |
241,972 |
(320,209) |
|
Debt due within one year |
(236,276) |
11,803 |
(224,473) |
|
Debt due after one year |
(1,261,344) |
(755,101) |
(2,016,445) |
|
------------- |
---------- |
------------- |
|
|
(
|
(
|
(
|
|
|
------------- |
---------- |
------------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Not later than 1 year |
|
|
|
Later than 1 year and not later than 5 years |
|
|
|
---------- |
--------- |
|
|
|
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|
---------- |
--------- |
|
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|
Notes to the Financial Statements (continued) |