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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 |
6 |
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Consolidated statement of comprehensive income |
10 |
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Consolidated statement of financial position |
11 |
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Company statement of financial position |
12 |
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Consolidated statement of changes in equity |
13 |
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Company statement of changes in equity |
14 |
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Consolidated 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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Registered office |
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England |
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Auditor |
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Chartered accountants & statutory auditor |
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Suite 2, 2 Mannin Way |
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Lancaster Business Park |
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Caton Road |
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Lancaster |
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LA1 3SU |
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Strategic Report |
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Director |
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Registered office: |
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England |
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Directors' Report |
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(Appointed
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(Appointed
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(Appointed
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Director |
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Registered office: |
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England |
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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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Suite 2, 2 Mannin Way |
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Lancaster Business Park |
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Caton Road |
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Lancaster |
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LA1 3SU |
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Consolidated Statement of Comprehensive Income |
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2024 |
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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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Distribution costs |
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Administrative expenses |
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Other operating income |
5 |
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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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Profit for the financial year and total comprehensive income |
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------------ |
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Consolidated Statement of Financial Position |
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2024 |
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Note |
£ |
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Intangible assets |
14 |
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Tangible assets |
15 |
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------------- |
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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 |
19 |
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Net current assets |
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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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Provisions |
22 |
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Net assets |
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Called up share capital |
26 |
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Profit and loss account |
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Shareholders funds |
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------------- |
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Director |
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Company Statement of Financial Position |
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2024 |
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Note |
£ |
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Debtors |
17 |
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Investments |
18 |
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Creditors: amounts falling due within one year |
19 |
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Net current assets |
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Total assets less current liabilities |
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Called up share capital |
26 |
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Profit and loss account |
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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 |
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Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 January 2024 |
– |
– |
– |
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Profit for the year |
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---- |
--------- |
--------- |
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Total comprehensive income for the year |
– |
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Issue of shares |
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– |
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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 31 December 2024 |
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--------- |
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Company 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 1 January 2024 |
– |
– |
– |
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Profit for the year |
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---- |
--------- |
--------- |
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Total comprehensive income for the year |
– |
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Issue of shares |
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– |
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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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At 31 December 2024 |
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--------- |
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Consolidated Statement of Cash Flows |
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2024 |
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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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Amortisation of intangible assets |
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Other interest receivable and similar income |
(
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Interest payable and similar expenses |
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Loss on disposal of tangible assets |
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Tax on profit |
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Accrued expenses |
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Changes in: |
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Stocks |
(
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Trade and other debtors |
(
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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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Interest received |
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Tax paid |
(
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------------- |
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Net cash (used in)/from operating activities |
(
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------------- |
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Purchase of tangible assets |
(
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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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------------- |
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Proceeds from issue of ordinary shares |
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Payments of share issue costs |
(
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Payments of finance lease liabilities |
(
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Dividends paid |
(
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------------- |
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Net cash from financing activities |
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------------- |
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Net increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year |
– |
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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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Goodwill |
- |
Over the economic life of the asset
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Patents, trademarks and licences |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
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2024 |
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£ |
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Sale of goods |
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------------- |
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2024 |
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£ |
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Other operating income |
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|
---- |
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2024 |
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£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
|
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Loss on disposal of tangible assets |
|
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Impairment of trade debtors |
136,211 |
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Foreign exchange differences |
|
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------------ |
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2024 |
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£ |
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Fees payable for the audit of the financial statements |
|
|
-------- |
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2024 |
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No. |
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Number of other staff |
79 |
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---- |
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2024 |
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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 |
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£ |
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Remuneration |
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|
-------- |
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2024 |
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|
£ |
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Interest on cash and cash equivalents |
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Interest receivable |
44,066 |
|
--------- |
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--------- |
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2024 |
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|
£ |
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Interest on obligations under finance leases and hire purchase contracts |
|
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Other interest payable and similar charges |
|
|
-------- |
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-------- |
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2024 |
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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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Tax on profit |
|
|
--------- |
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|
2024 |
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|
£ |
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Profit on ordinary activities before taxation |
|
|
------------ |
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Profit on ordinary activities by rate of tax |
|
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Adjustment to tax charge in respect of prior periods |
(
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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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Effect of revenue exempt from tax |
(
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Unused tax losses |
(
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Tax on profit pre group |
(46,699) |
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------------ |
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Tax on profit |
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------------ |
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|
2024 |
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|
£ |
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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
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|
--------- |
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Group |
Goodwill |
Patents, trademarks and licences |
Total |
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£ |
£ |
£ |
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Cost |
|||
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At 1 January 2024 |
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Additions |
|
– |
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------------- |
------------ |
------------- |
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At 31 December 2024 |
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------------- |
------------ |
------------- |
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Amortisation |
|||
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At 1 January 2024 |
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Charge for the year |
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Transfers |
– |
41,314 |
41,314 |
|
------------- |
------------ |
------------- |
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At 31 December 2024 |
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------------- |
------------ |
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Carrying amount |
|||
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At 31 December 2024 |
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------------- |
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Group |
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 Jan 2024 |
|
|
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|
– |
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Additions |
|
– |
|
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Disposals |
(
|
– |
(
|
– |
– |
(
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Transfers |
– |
(1,475) |
(10,515) |
(4,875) |
(257) |
(17,122) |
|
--------- |
-------- |
--------- |
--------- |
-------- |
------------ |
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At 31 Dec 2024 |
– |
|
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--------- |
-------- |
--------- |
--------- |
-------- |
------------ |
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Depreciation |
||||||
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At 1 Jan 2024 |
– |
|
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|
– |
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Charge for the year |
– |
|
|
|
|
|
|
--------- |
-------- |
--------- |
--------- |
-------- |
------------ |
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At 31 Dec 2024 |
– |
|
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|
|
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|
--------- |
-------- |
--------- |
--------- |
-------- |
------------ |
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Carrying amount |
||||||
|
At 31 Dec 2024 |
– |
|
|
|
|
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|
--------- |
-------- |
--------- |
--------- |
-------- |
------------ |
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|
Group |
Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
|
|
At 31 December 2024 |
|
|
|
|
--------- |
-------- |
--------- |
|
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Group |
Company |
|
|
2024 |
2024 |
|
|
£ |
£ |
|
|
Raw materials and consumables |
|
– |
|
------------ |
---- |
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|
Group |
Company |
|
|
2024 |
2024 |
|
|
£ |
£ |
|
|
Trade debtors |
|
– |
|
Prepayments and accrued income |
|
– |
|
Directors loan account |
|
|
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Other debtors |
|
– |
|
------------- |
------------ |
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------------- |
------------ |
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Group |
Company |
|
|
2024 |
2024 |
|
|
£ |
£ |
|
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Investments in group undertakings |
– |
29,775,000 |
|
---- |
------------- |
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Group |
Company |
|
|
2024 |
2024 |
|
|
£ |
£ |
|
|
Trade creditors |
|
– |
|
Amounts owed to group undertakings |
– |
|
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Accruals and deferred income |
|
– |
|
Corporation tax |
|
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Social security and other taxes |
|
– |
|
Obligations under finance leases and hire purchase contracts |
|
– |
|
Other creditors |
|
|
|
------------ |
------------ |
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|
------------ |
------------ |
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|
Group |
Company |
|
|
2024 |
2024 |
|
|
£ |
£ |
|
|
Obligations under finance leases and hire purchase contracts |
|
– |
|
-------- |
---- |
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|
Group |
Company |
|
|
2024 |
2024 |
|
|
£ |
£ |
|
|
Not later than 1 year |
|
– |
|
Later than 1 year and not later than 5 years |
|
– |
|
--------- |
---- |
|
|
|
– |
|
|
--------- |
---- |
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|
Group |
Deferred tax (note 23) |
|
£ |
|
|
At 1 January 2024 |
– |
|
Charge against provision |
|
|
-------- |
|
|
At 31 December 2024 |
|
|
-------- |
|
|
Group |
Company |
|
|
2024 |
2024 |
|
|
£ |
£ |
|
|
Included in provisions (note 22) |
|
– |
|
-------- |
---- |
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|
Group |
Company |
|
|
2024 |
2024 |
|
|
£ |
£ |
|
|
Accelerated capital allowances |
|
– |
|
-------- |
---- |
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|
2024 |
||
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No. |
£ |
|
|
|
|
3,712,500 |
|
|
|
3,712,500 |
|
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|
3,712,500 |
|
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|
3,712,500 |
|
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|
3,712,500 |
|
C2T Ordinary Shares shares of £1 each |
3,712,500 |
3,712,500 |
|
Redeemable P1 shares of £1 each |
3,750,000 |
3,750,000 |
|
Redeemable P2 shares of £1 each |
3,750,000 |
3,750,000 |
|
------------- |
------------- |
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29,775,000 |
|
|
------------- |
------------- |
|
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At 1 Jan 2024 |
Cash flows |
At 31 Dec 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
– |
2,333,382 |
|
|
Debt due within one year |
– |
(112,351) |
(112,351) |
|
Debt due after one year |
– |
(80,167) |
(80,167) |
|
---- |
------------ |
------------ |
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|
– |
|
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|
---- |
------------ |
------------ |
|
|
Group |
Company |
|
|
2024 |
2024 |
|
|
£ |
£ |
|
|
Not later than 1 year |
|
– |
|
Later than 1 year and not later than 5 years |
|
– |
|
------------ |
---- |
|
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|
– |
|
|
------------ |
---- |
|