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FOR THE YEAR ENDED |
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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 income and retained earnings |
10 |
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Company statement of income and retained earnings |
11 |
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Consolidated statement of financial position |
12 |
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Company statement of financial position |
13 |
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Consolidated statement of cash flows |
14 |
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Notes to the financial statements |
15 |
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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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Auditor |
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Chartered accountants & statutory auditor |
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Windsor House |
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A1 Business Park at |
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Long Bennington |
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Notts |
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NG23 5JR |
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Bankers |
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21 Prescot Street |
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E1 8AD |
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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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Windsor House |
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A1 Business Park at |
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Long Bennington |
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Notts |
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NG23 5JR |
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CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS |
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2024 |
2023 |
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Note |
£ |
£ |
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Turnover |
4 |
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Other operating income |
5 |
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– |
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20,476,854 |
21,139,591 |
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Raw material and consumables |
(
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(
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Other external charges |
(
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(
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Staff costs |
8 |
(
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(
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Depreciation and other amounts written off tangible and intangible fixed assets |
(
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(
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Other operating expenses |
(
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(
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------------- |
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Operating profit |
6 |
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Income from shares in group undertakings |
10 |
– |
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Other interest receivable and similar income |
11 |
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– |
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Interest payable and similar expenses |
12 |
(
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(
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Profit/(loss) before taxation |
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(
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13 |
(
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(
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--------- |
-------- |
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Profit/(loss) for the financial year and total comprehensive income |
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(
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--------- |
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Retained earnings at the start of the year |
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------------ |
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Retained earnings at the end of the year |
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COMPANY STATEMENT OF INCOME AND RETAINED EARNINGS |
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2024 |
2023 |
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Note |
£ |
£ |
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Retained earnings at the start of the year |
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------------ |
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Retained earnings at the end of the year |
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------------ |
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CONSOLIDATED 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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Investments |
16 |
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Stocks |
17 |
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Debtors |
18 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
19 |
(
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(
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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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(
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Taxation including deferred tax |
22 |
(
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(
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Net assets |
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Called up share capital |
25 |
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Profit and loss account |
26 |
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Shareholders funds |
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Director |
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COMPANY STATEMENT OF FINANCIAL POSITION |
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2024 |
2023 |
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Note |
£ |
£ |
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Investments |
16 |
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Creditors: amounts falling due within one year |
19 |
(
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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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Called up share capital |
25 |
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Profit and loss account |
26 |
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Shareholders funds |
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Director |
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CONSOLIDATED STATEMENT OF CASH FLOWS |
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2024 |
2023 |
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£ |
£ |
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Profit/(loss) for the financial year |
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(
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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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Income from shares in group undertakings |
– |
(
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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 expenses/(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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Trade and other creditors |
(
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(
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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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– |
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Tax paid |
(
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(
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--------- |
--------- |
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Net cash from operating activities |
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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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Dividends received |
– |
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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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Payments of finance lease liabilities |
(
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(
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--------- |
------------ |
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Net cash used in financing activities |
(
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(
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--------- |
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Net decrease in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
292,627 |
1,015,898 |
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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 |
- |
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Plant and machinery |
- |
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Fixtures and 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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Other operating income |
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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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(
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Impairment of trade debtors |
92,048 |
177,414 |
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Foreign exchange differences |
(
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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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2024 |
2023 |
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No. |
No. |
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Production staff |
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Administrative staff |
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Management staff |
1 |
1 |
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---- |
---- |
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---- |
---- |
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2024 |
2023 |
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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 |
2023 |
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£ |
£ |
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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 |
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No. |
No. |
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Defined contribution plans |
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---- |
---- |
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2024 |
2023 |
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£ |
£ |
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Income from group undertakings |
– |
28,323 |
|
---- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Other interest receivable and similar income |
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– |
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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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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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-------- |
-------- |
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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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UK current tax income |
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– |
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Adjustments in respect of prior periods |
– |
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-------- |
------- |
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Total current tax |
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-------- |
------- |
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Origination and reversal of timing differences |
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-------- |
-------- |
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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/(loss) on ordinary activities before taxation |
|
(
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--------- |
------- |
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Profit/(loss) 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 different tax rates on deferred tax |
– |
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--------- |
-------- |
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Tax on profit |
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--------- |
-------- |
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Group |
Goodwill |
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£ |
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Cost |
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At 1 January 2024 and 31 December 2024 |
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------------ |
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Amortisation |
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At 1 January 2024 and 31 December 2024 |
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------------ |
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Carrying amount |
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At 1 January 2024 and 31 December 2024 |
– |
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------------ |
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At 31 December 2023 |
– |
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------------ |
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Group |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
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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Disposals |
(
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– |
– |
(
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------------ |
--------- |
-------- |
------------ |
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At 31 December 2024 |
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------------ |
--------- |
-------- |
------------ |
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Depreciation |
||||
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At 1 January 2024 |
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Charge for the year |
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Disposals |
(
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– |
– |
(
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------------ |
--------- |
-------- |
------------ |
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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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At 31 December 2023 |
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------------ |
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Group |
Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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At 31 December 2024 |
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– |
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-------- |
---- |
-------- |
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At 31 December 2023 |
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--------- |
-------- |
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Group |
Other investments other than loans |
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£ |
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Cost |
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At 1 January 2024 and 31 December 2024 |
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--------- |
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Impairment |
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At 1 January 2024 and 31 December 2024 |
– |
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--------- |
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Carrying amount |
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At 1 January 2024 and 31 December 2024 |
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--------- |
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At 31 December 2023 |
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--------- |
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Company |
Shares in group undertakings |
|
£ |
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Cost |
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At 1 January 2024 and 31 December 2024 |
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------------ |
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Impairment |
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At 1 January 2024 and 31 December 2024 |
– |
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------------ |
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Carrying amount |
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At 1 January 2024 and 31 December 2024 |
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------------ |
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At 31 December 2023 |
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Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Ordinary |
100 |
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Ordinary |
100 |
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Other significant holdings |
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Abacus Lawrence Group Limited |
Ordinary |
20 |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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|
£ |
£ |
£ |
£ |
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Finished goods and goods for resale |
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|
– |
– |
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------------ |
------------ |
---- |
---- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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|
£ |
£ |
£ |
£ |
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Trade debtors |
|
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– |
– |
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Prepayments and accrued income |
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– |
– |
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Corporation tax repayable |
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– |
– |
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------------ |
------------ |
---- |
---- |
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– |
– |
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------------ |
------------ |
---- |
---- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
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Trade creditors |
|
|
– |
– |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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– |
– |
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Corporation tax |
– |
– |
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Social security and other taxes |
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– |
– |
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Obligations under finance leases and hire purchase contracts |
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|
– |
– |
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Other creditors |
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– |
– |
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------------ |
------------ |
------------ |
------------ |
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
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Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
|
------- |
--------- |
---- |
---- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
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Later than 1 year and not later than 5 years |
|
|
– |
– |
|
-------- |
--------- |
---- |
---- |
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|
– |
– |
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|
-------- |
--------- |
---- |
---- |
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Group |
Deferred tax (note 23) |
|
£ |
|
|
At 1 January 2024 |
|
|
Additions |
|
|
--------- |
|
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At 31 December 2024 |
|
|
--------- |
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Group |
Company |
|||
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2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Included in provisions (note 22) |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
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|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Accelerated capital allowances |
|
|
– |
– |
|
Unused tax losses |
– |
(
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
330,563 |
281,694 |
– |
– |
|
|
--------- |
--------- |
---- |
---- |
|
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
1,801,129 |
|
1,801,129 |
|
|
|
198,871 |
|
198,871 |
|
------------ |
------------ |
------------ |
------------ |
|
|
|
2,000,000 |
|
2,000,000 |
|
|
------------ |
------------ |
------------ |
------------ |
|
|
At 1 Jan 2024 |
Cash flows |
At 31 Dec 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
(93,750) |
|
|
Debt due within one year |
(1,442,497) |
129,686 |
(1,312,811) |
|
Debt due after one year |
(134,442) |
128,027 |
(6,415) |
|
------------ |
--------- |
------------ |
|
|
(
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|
(
|
|
|
------------ |
--------- |
------------ |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
|
|
– |
– |
|
|
------------ |
------------ |
---- |
---- |
|
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|
|
NOTES TO THE FINANCIAL STATEMENTS (continued) |