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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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Directors' responsibilities statement |
5 |
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Independent auditor's report to the member |
6 |
|
Statement of comprehensive income |
10 |
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Statement of financial position |
11 |
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Statement of changes in equity |
12 |
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Statement of cash flows |
13 |
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Notes to the financial statements |
14 |
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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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Scotland |
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Auditor |
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Chartered Certified Accountants & Registered Auditors |
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Stannergate House |
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41 Dundee Road West |
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Broughty Ferry |
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Dundee |
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DD5 1NB |
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Bankers |
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1 Queen's Cross |
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Aberdeen |
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AB15 4XU |
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Strategic Report |
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Director |
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Registered office: |
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Scotland |
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Directors' Report |
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Director |
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Registered office: |
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Scotland |
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Directors' Responsibilities Statement |
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Independent Auditor's Report to the Member of
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(Senior Statutory Auditor) |
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For and on behalf of |
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Chartered Certified Accountants & Registered Auditors |
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Stannergate House |
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41 Dundee Road West |
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Broughty Ferry |
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Dundee |
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DD5 1NB |
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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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Other operating income |
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------------- |
------------ |
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13,903,701 |
9,566,672 |
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Raw material and consumables |
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Staff costs |
7 |
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Depreciation and other amounts written off tangible and intangible fixed assets |
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Other operating expenses |
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------------- |
------------ |
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Operating profit |
5 |
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Interest payable and similar expenses |
9 |
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------------- |
------------ |
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Profit before taxation |
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Tax on profit |
10 |
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– |
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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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Intangible assets |
11 |
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Tangible assets |
12 |
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------------ |
------------ |
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Stocks |
13 |
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Debtors |
14 |
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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 |
16 |
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------------- |
------------ |
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Net current assets |
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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 |
17 |
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Taxation including deferred tax |
19 |
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– |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
22 |
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Share premium account |
23 |
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Profit and loss account |
23 |
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------------ |
------------ |
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Shareholder funds |
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------------ |
------------ |
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Director |
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Statement of Changes in Equity |
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Called up share capital |
Share premium account |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 October 2022 |
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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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At 30 September 2023 |
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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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------------ |
-------- |
------------ |
------------ |
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At 30 September 2024 |
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------------ |
-------- |
------------ |
------------ |
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Statement of Cash Flows |
|
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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Amortisation of intangible assets |
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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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– |
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Accrued expenses |
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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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|
--------- |
------------ |
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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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(
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Proceeds from sale of tangible assets |
|
– |
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Purchase of intangible assets |
(
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(
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Disposal of intangible assets |
|
– |
|
--------- |
------------ |
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Net cash used in investing activities |
(
|
(
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|
--------- |
------------ |
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Net (advances to)/proceeds received from, associated undertakings |
(
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Net advances/(repayment) of finance leases |
|
(
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|
--------- |
------------ |
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Net cash from financing activities |
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|
--------- |
------------ |
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Net (decrease)/increase in cash and cash equivalents |
(
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Cash and cash equivalents at beginning of year |
(1,879,986) |
(1,938,782) |
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|
------------ |
------------ |
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Cash and cash equivalents at end of year |
15 |
(
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(
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------------ |
------------ |
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Notes to the Financial Statements |
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Deferred Development Expenditure |
- |
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Plant & Machinery |
- |
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Fixtures & Fittings |
- |
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Motor Vehicles |
- |
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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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|
United Kingdom |
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Overseas |
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------------- |
------------ |
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------------- |
------------ |
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2024 |
2023 |
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|
£ |
£ |
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Gains on disposal of tangible assets |
(
|
– |
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Foreign exchange differences |
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Operating lease rent |
|
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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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Other non-audit services |
|
|
|
-------- |
-------- |
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2024 |
2023 |
|
|
No. |
No. |
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Production staff |
|
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Administrative staff |
|
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Management staff |
8 |
6 |
|
---- |
---- |
|
|
|
|
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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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|
£ |
£ |
|
|
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 |
|
|
No. |
No. |
|
|
Defined contribution plans |
|
|
|
---- |
---- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Aggregate remuneration |
|
|
|
Company contributions to defined contribution pension plans |
|
|
|
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Interest on banks loans and overdrafts |
|
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Interest on obligations under finance leases and hire purchase contracts |
|
|
|
--------- |
--------- |
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|
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|
--------- |
--------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
UK current tax expense |
|
– |
|
Origination and reversal of timing differences |
|
– |
|
--------- |
---- |
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|
Tax on profit |
|
– |
|
--------- |
---- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
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 |
|
– |
|
Effect of expenses not deductible for tax purposes |
(
|
– |
|
Effect of capital allowances and depreciation |
|
|
|
Utilisation of tax losses |
(
|
(
|
|
------------ |
--------- |
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|
Tax on profit |
|
– |
|
------------ |
--------- |
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|
Development costs |
|
|
£ |
|
|
Cost |
|
|
At 1 October 2023 |
|
|
Additions |
|
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Disposals |
(
|
|
------------ |
|
|
At 30 September 2024 |
|
|
------------ |
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Amortisation |
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At 1 October 2023 |
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|
Charge for the year |
|
|
------------ |
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At 30 September 2024 |
|
|
------------ |
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|
Carrying amount |
|
|
At 30 September 2024 |
|
|
------------ |
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At 30 September 2023 |
|
|
------------ |
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|
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
|
£ |
£ |
£ |
£ |
|
|
Cost |
||||
|
At 1 October 2023 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
(
|
(
|
(
|
(
|
|
------------ |
--------- |
-------- |
------------ |
|
|
At 30 September 2024 |
|
|
|
|
|
------------ |
--------- |
-------- |
------------ |
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Depreciation |
||||
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At 1 October 2023 |
|
|
|
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|
Charge for the year |
|
|
|
|
|
Disposals |
(
|
(
|
(
|
(
|
|
------------ |
--------- |
-------- |
------------ |
|
|
At 30 September 2024 |
|
|
|
|
|
------------ |
--------- |
-------- |
------------ |
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|
Carrying amount |
||||
|
At 30 September 2024 |
|
|
|
|
|
------------ |
--------- |
-------- |
------------ |
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|
At 30 September 2023 |
|
|
|
|
|
------------ |
--------- |
-------- |
------------ |
|
|
Plant and machinery |
Motor vehicles |
Total |
|
|
£ |
£ |
£ |
|
|
At 30 September 2024 |
|
|
|
|
--------- |
-------- |
--------- |
|
|
At 30 September 2023 |
|
|
|
|
--------- |
-------- |
--------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Raw materials and consumables |
|
|
|
Work in progress |
|
|
|
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Trade debtors |
|
|
|
Prepayments and accrued income |
|
|
|
Other debtors |
|
|
|
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Cash at bank and in hand |
|
|
|
Bank overdrafts |
(
|
(
|
|
------------ |
------------ |
|
|
(
|
(
|
|
|
------------ |
------------ |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
|
Trade creditors |
|
|
|
Amounts owed to group and other related undertakings |
|
|
|
Accruals and deferred income |
|
|
|
Corporation tax |
|
– |
|
Social security and other taxes |
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
Other creditors |
|
|
|
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
Other creditors |
|
|
|
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Not later than 1 year |
|
|
|
Later than 1 year and not later than 5 years |
|
|
|
--------- |
--------- |
|
|
|
|
|
|
Less: future finance charges |
(
|
(
|
|
--------- |
--------- |
|
|
Present value of minimum lease payments |
|
|
|
--------- |
--------- |
|
|
Deferred tax (note 20) |
|
|
£ |
|
|
At 1 October 2023 |
– |
|
Additions |
|
|
--------- |
|
|
At 30 September 2024 |
|
|
--------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Included in provisions (note 19) |
|
– |
|
--------- |
---- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Accelerated capital allowances |
|
|
|
Unused tax losses |
– |
(
|
|
Pension plan obligations |
(
|
(
|
|
--------- |
--------- |
|
|
136,412 |
– |
|
|
--------- |
--------- |
|
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
1,500,800 |
|
1,500,800 |
|
|
|
210,594 |
|
210,594 |
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
At 1 Oct 2023 |
Cash flows |
At 30 Sep 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
77,910 |
|
|
Bank overdrafts |
(1,925,068) |
(539,368) |
(2,464,436) |
|
Debt due within one year |
(780,544) |
24,228 |
(756,316) |
|
Debt due after one year |
(51,157) |
(224,493) |
(275,650) |
|
------------ |
--------- |
------------ |
|
|
(
|
(
|
(
|
|
|
------------ |
--------- |
------------ |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Not later than 1 year |
|
|
|
Later than 1 year and not later than 5 years |
|
|
|
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
|
|
|
|
Notes to the Financial Statements (continued) |