|
2024
|
2023
|
||
|
£
|
£
|
||
|
Turnover
|
12,725,960
|
13,340,554
|
|
|
Gross Profit
|
2,987,068
|
2,703,794
|
|
|
Gross Profit Margin
|
23.5%
|
20.3%
|
|
|
Net Assets
|
5,515,506
|
4,465,635
|
|
Director
|
|
30/05/2025
|
|
|
|
Director
|
|
|
|
for and on behalf of
|
|
|
|
Suite 2B, Cadogan House
322 Lisburn Road
Belfast
BT9 6GH
|
| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| TURNOVER |
|
|
||
| Cost of sales |
( |
( |
||
| GROSS PROFIT |
|
|
||
| Administrative expenses |
( |
( |
||
| Other operating income |
|
|
||
| OPERATING PROFIT | 4 |
|
|
|
| Profit/(loss) on revaluation of investments |
|
( |
||
| Income from Shares in group undertakings |
|
|
||
| Profit on disposal of fixed assets |
|
|
||
| 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 |
|
|
|||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 20 |
|
|
||
| Revaluation reserve |
|
|
|||
| Income Statement |
|
|
|||
| SHAREHOLDERS' FUNDS | 4,905,309 | 3,864,485 | |||
|
Director
|
|
|
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 13 |
|
|
||
| Investments | 14 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| 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 |
|
|
|||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 20 |
|
|
||
| Share premium account |
|
|
|||
| Income Statement |
|
|
|||
| SHAREHOLDERS' FUNDS | 1,996,896 | 601,101 | |||
|
Director
|
|
|
| Share Capital | Revaluation reserve | Income Statement | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| As at 1 April 2022 |
|
|
|
2,883,893 |
| Profit for the year and total comprehensive income | - | - |
|
1,329,019 |
| Dividends paid | - | - | (349,527) | (349,527) |
| Arising on shares issued during the period |
|
- | - | 1,100 |
| As at 31 March 2023 and 1 April 2023 |
|
|
|
3,864,485 |
| Profit for year | - | - | 1,258,086 |
|
| Other comprehensive income (expense) type A | - | - | - | - |
| Other comprehensive income for the year | - |
|
|
|
| Total comprehensive income for the year | - | - |
|
1,258,086 |
| Dividends paid | - | - | (217,262) | (217,262) |
| As at 31 March 2024 |
|
|
|
4,905,309 |
| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| Cash flows from operating activities | ||||
| Net cash generated from operations | 1 |
|
|
|
| Interest paid |
( |
( |
||
| Tax (paid)/refunded |
( |
|
||
| Net cash generated from operating activities |
|
|
||
| Cash flows from investing activities | ||||
| Purchase of tangible assets |
( |
( |
||
| Proceeds from disposal of tangible assets |
|
|
||
| Grants received |
|
|
||
| Interest received |
|
|
||
| Dividends received |
|
|
||
| Net cash (used in)/generated from investing activities |
( |
|
||
| Cash flows from financing activities | ||||
| Proceeds from issue of share capital |
|
|
||
| Equity dividends paid |
( |
( |
||
| Proceeds from new bank borrowings |
|
|
||
| Repayment of bank borrowings |
( |
|
||
| Repayment of finance leases |
( |
( |
||
| Amount introduced by directors | - | 8,354 | ||
| Amount withdrawn by directors | (12,963) | - | ||
| Net cash used in financing activities |
( |
( |
||
| Increase/(decrease) in cash and cash equivalents |
|
( |
||
| Cash and cash equivalents at beginning of year | 2 |
|
|
|
| Foreign exchange losses on cash and cash equivalents |
( |
|
||
| 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 shares in group undertakings | (118,249) | (288,690) | |
| Amortisation of intangible assets |
|
|
|
| Depreciation of tangible assets |
|
|
|
| Profit on disposal of tangible assets | (33,079) | (7,175) | |
| (Profit)/loss on revaluation of fixed assets | (59,106) | 56,517 | |
| Grant income | (25,087) | (60,493) | |
| Foreign exchange losses/(gains) | 56,580 | (11,508) | |
| Movements in working capital: | |||
| Increase 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 April 2023 | Cash flows | As at 31 March 2024 | |
|---|---|---|---|
| £ | £ | £ | |
| Cash at bank and in hand |
|
263,846 |
|
| Finance leases | (21,488) | 21,488 | - |
| Debts falling due within one year |
( |
17,999 |
( |
| 2,008,312 | 303,333 | 2,311,645 | |
| Freehold |
|
| Leasehold |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Grant income |
|
|
|
| Other operating income |
|
|
|
| 25,462 | 125,914 | ||
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation of tangible fixed assets |
|
|
|
| Amortisation of intangible fixed assets |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
| Income from shares in group undertakings |
|
|
|
| 139,354 | 295,643 | ||
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Finance charges payable under finance leases and hire purchase contracts | 2,896 | 8,798 | |
| Other finance charges | - |
|
|
| 18,095 | 21,389 | ||
|
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% | 19.0% |
|
|
|
| Foreign tax |
|
( |
|||
|
|
|
||||
| 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 | 1,484,972 | 1,515,470 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Capital allowances |
( |
( |
|||
| Adjustment for long accounting periods |
|
|
|||
| Double taxation relief |
( |
( |
|||
| Dividends from companies |
( |
( |
|||
| Revenue exempt from taxation |
( |
|
|||
| Group relief |
( |
|
|||
| Foreign tax rates |
|
( |
|||
| Total tax charge for the period | 226,886 | 186,451 | |||
| Goodwill | Other | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2023 |
|
|
|
| As at 31 March 2024 |
|
|
|
| Amortisation | |||
| As at 1 April 2023 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 March 2024 |
|
|
|
| Net Book Value | |||
| As at 31 March 2024 |
|
|
|
| As at 1 April 2023 |
|
|
|
| Land & Property | ||||
|---|---|---|---|---|
| Freehold | Leasehold | Plant & Machinery | Motor Vehicles | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 April 2023 |
|
|
|
|
| Additions |
|
|
|
|
| As at 31 March 2024 |
|
|
|
|
| Depreciation | ||||
| As at 1 April 2023 |
|
|
|
|
| Provided during the period |
|
|
|
|
| As at 31 March 2024 |
|
|
|
|
| Net Book Value | ||||
| As at 31 March 2024 |
|
( |
|
|
| As at 1 April 2023 |
|
|
|
|
| Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2023 |
|
|
|
| Additions |
|
|
|
| As at 31 March 2024 |
|
|
|
| Depreciation | |||
| As at 1 April 2023 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 March 2024 |
|
|
|
| Net Book Value | |||
| As at 31 March 2024 |
|
|
|
| As at 1 April 2023 |
|
|
|
| Land & Property | |||
|---|---|---|---|
| Freehold | Plant & Machinery | Total | |
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2023 |
|
|
|
| Additions |
|
|
|
| As at 31 March 2024 |
|
|
|
| Depreciation | |||
| As at 1 April 2023 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 March 2024 |
|
|
|
| Net Book Value | |||
| As at 31 March 2024 |
|
|
|
| As at 1 April 2023 |
|
|
|
| Other | |
|---|---|
| £ | |
| Cost | |
| As at 1 April 2023 |
|
| Revaluations |
|
| As at 31 March 2024 |
|
| Provision | |
| As at 1 April 2023 |
|
| As at 31 March 2024 |
|
| Net Book Value | |
| As at 31 March 2024 |
|
| As at 1 April 2023 |
|
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at 1 April 2023 |
|
| As at 31 March 2024 |
|
| Provision | |
| As at 1 April 2023 |
|
| As at 31 March 2024 |
|
| Net Book Value | |
| As at 31 March 2024 |
|
| As at 1 April 2023 |
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
|
|
|
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
|
|
|
|
|||
| Other debtors | 335,921 | 1,445,989 | 34,085 | 1 | |||
|
|
|
|
|
||||
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Net obligations under finance lease and hire purchase contracts | - |
|
|
|
|||
| Trade creditors |
|
|
|
|
|||
| Bank loans and overdrafts |
|
|
|
|
|||
| Other creditors | 154,720 | 240,226 | 110 | - | |||
| Corporation tax |
|
|
|
|
|||
| Taxation and social security | 280,318 | 447,830 | - | - | |||
| Accruals and deferred income |
|
|
|
|
|||
|
|
|
|
|
||||
| Group | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Amounts falling due within one year or on demand: | ||||
| Bank loans |
|
|
||
| Group | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| The future minimum finance lease payments are as follows: | ||||
| Not later than one year | - |
|
||
| Less: Finance charges allocated to future periods | - |
|
||
| - |
|
|||
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
| Final dividend paid |
( |
|
|
| 217,262 | 349,527 | ||