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For the period 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 comprehensive income |
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 changes in equity |
14 |
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Company statement of changes in equity |
15 |
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Consolidated statement of cash flows |
16 |
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Notes to the financial statements |
17 |
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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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Enterprise House |
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38 Tyndall Court |
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Commerce Road |
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Lynch Wood |
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Peterborough |
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Cambridgeshire |
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PE2 6LR |
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Bankers |
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14/15 Hereward Cross |
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Peterborough |
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Cambridgeshire |
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PE1 1TB |
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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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(Appointed
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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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Enterprise House |
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38 Tyndall Court |
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Commerce Road |
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Lynch Wood |
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Peterborough |
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Cambridgeshire |
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PE2 6LR |
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Consolidated Statement of Comprehensive Income |
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Period from |
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1 Jun 23 to |
Year to |
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30 Nov 24 |
31 May 23 |
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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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Material operating profit item |
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– |
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------------ |
------------ |
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Operating profit/(loss) |
6 |
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(
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Interest payable and similar expenses |
10 |
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------------ |
------------ |
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Profit/(loss) before taxation |
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(
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Tax on profit/(loss) |
11 |
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(
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--------- |
--------- |
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Profit/(loss) for the financial period |
|
(
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--------- |
--------- |
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Revaluation of tangible assets |
– |
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--------- |
--------- |
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Total comprehensive income for the period |
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(
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--------- |
--------- |
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Consolidated Statement of Financial Position |
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30 Nov 24 |
31 May 23 |
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Note |
£ |
£ |
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Tangible assets |
14 |
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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 |
18 |
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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 |
19 |
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Provisions |
21 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
24 |
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Share premium account |
25 |
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– |
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Revaluation reserve |
25 |
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Profit and loss account |
25 |
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------------ |
--------- |
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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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30 Nov 24 |
31 May 23 |
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Note |
£ |
£ |
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Investments |
15 |
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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 |
18 |
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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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--------- |
-------- |
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Net assets |
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--------- |
-------- |
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Called up share capital |
24 |
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Share premium account |
25 |
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– |
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Profit and loss account |
25 |
(
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--------- |
-------- |
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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 |
|
Called up share capital |
Share premium account |
Revaluation reserve |
Profit and loss account |
Total |
|||
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Note |
£ |
£ |
£ |
£ |
£ |
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At 1 June 2022 |
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– |
– |
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Loss for the period |
(
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(
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Other comprehensive income for the period: |
|||||||
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Revaluation of tangible assets |
14 |
– |
– |
|
– |
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---- |
---- |
-------- |
------------ |
------------ |
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Total comprehensive income for the period |
– |
– |
|
(
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(
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Dividends paid and payable |
12 |
– |
– |
– |
(
|
(
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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 May 2023 |
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– |
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Profit for the period |
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---- |
---- |
-------- |
------------ |
------------ |
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Total comprehensive income for the period |
– |
– |
– |
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Issue of shares |
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– |
– |
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Dividends paid and payable |
12 |
– |
– |
– |
(
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(
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Cancellation of subscribed capital |
(
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– |
– |
– |
(
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Redemption of shares |
– |
– |
– |
(
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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 November 2024 |
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------- |
--------- |
-------- |
--------- |
------------ |
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|
Company Statement of Changes in Equity |
|
Called up share capital |
Share premium account |
Profit and loss account |
Total |
||
|
£ |
£ |
£ |
£ |
||
|
At 1 June 2022 |
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– |
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Profit for the period |
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|||
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---- |
---- |
--------- |
--------- |
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Total comprehensive income for the period |
– |
– |
|
|
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Dividends paid and payable |
12 |
– |
– |
(
|
(
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|
---- |
---- |
--------- |
--------- |
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|
Total investments by and distributions to owners |
– |
– |
(
|
(
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At 31 May 2023 |
|
– |
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Profit for the period |
|
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|||
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---- |
---- |
--------- |
--------- |
||
|
Total comprehensive income for the period |
– |
– |
|
|
|
|
Issue of shares |
|
|
– |
|
|
|
Dividends paid and payable |
12 |
– |
– |
(
|
(
|
|
Cancellation of subscribed capital |
(
|
– |
– |
(
|
|
|
Redemption of shares |
– |
– |
(
|
(
|
|
|
---- |
--------- |
--------- |
--------- |
||
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Total investments by and distributions to owners |
|
|
(
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|
------- |
--------- |
--------- |
--------- |
||
|
At 30 November 2024 |
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|
(
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|
------- |
--------- |
--------- |
--------- |
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Consolidated Statement of Cash Flows |
|
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
|
|
Profit/(loss) for the financial period |
|
(
|
|
Adjustments for: |
||
|
Depreciation of tangible assets |
|
|
|
Amortisation of intangible assets |
(
|
– |
|
Interest payable and similar expenses |
|
|
|
Gains on disposal of tangible assets |
(
|
(
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Tax on profit |
97,921 |
(187,400) |
|
Changes in: |
||
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Stocks |
(
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Trade and other debtors |
(
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(
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Trade and other creditors |
|
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Provisions and employee benefits |
– |
(
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|
------------ |
------------ |
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Cash generated from operations |
(
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Interest paid |
(
|
(
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Tax received |
|
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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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Proceeds from sale of interests in associates and joint ventures |
– |
|
|
--------- |
--------- |
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Net cash (used in)/from investing activities |
(
|
|
|
--------- |
--------- |
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Proceeds from issue of ordinary shares |
|
– |
|
Purchase of own shares |
(
|
– |
|
Proceeds from borrowings |
(
|
(
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Payments of finance lease liabilities |
|
(
|
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Dividends paid |
(
|
(
|
|
--------- |
--------- |
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Net cash from/(used in) financing activities |
|
(
|
|
--------- |
--------- |
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Net decrease in cash and cash equivalents |
(
|
(
|
|
Cash and cash equivalents at beginning of period |
822,143 |
1,231,039 |
|
--------- |
------------ |
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Cash and cash equivalents at end of period |
|
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|
--------- |
------------ |
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Notes to the Financial Statements |
|
Goodwill |
- |
|
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Freehold property |
- |
|
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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 |
- |
|
|
|
Period from |
||
|
1 Jun 23 to |
Year to |
|
|
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
|
|
Construction contracts |
|
|
|
------------- |
------------- |
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|
Period from |
||
|
1 Jun 23 to |
Year to |
|
|
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
|
|
Rental income |
|
|
|
Management charges receivable |
– |
|
|
Other operating income |
|
|
|
-------- |
--------- |
|
|
|
|
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|
-------- |
--------- |
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|
Period from |
||
|
1 Jun 23 to |
Year to |
|
|
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
|
|
Amortisation of intangible assets |
(
|
– |
|
Depreciation of tangible assets |
|
|
|
Gains on disposal of tangible assets |
(
|
(
|
|
--------- |
--------- |
|
|
Period from |
||
|
1 Jun 23 to |
Year to |
|
|
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
|
|
Fees payable for the audit of the financial statements |
|
|
|
-------- |
-------- |
|
|
30 Nov 24 |
31 May 23 |
|
|
No. |
No. |
|
|
Production staff |
|
|
|
Management staff |
3 |
3 |
|
---- |
---- |
|
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---- |
---- |
|
|
Period from |
||
|
1 Jun 23 to |
Year to |
|
|
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
|
|
Wages and salaries |
|
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|
Social security costs |
|
|
|
Other pension costs |
|
|
|
------------ |
------------ |
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------------ |
------------ |
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Period from |
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1 Jun 23 to |
Year to |
|
|
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
|
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Remuneration |
|
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Company contributions to defined contribution pension plans |
(
|
|
|
------- |
------- |
|
|
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|
------- |
------- |
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30 Nov 24 |
31 May 23 |
|
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No. |
No. |
|
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Defined contribution plans |
|
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|
---- |
---- |
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Period from |
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1 Jun 23 to |
Year to |
|
|
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
|
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Interest on banks loans and overdrafts |
|
|
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Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Other interest payable and similar charges |
|
|
|
-------- |
-------- |
|
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-------- |
-------- |
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|
Period from |
||
|
1 Jun 23 to |
Year to |
|
|
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
|
|
UK current tax expense |
|
(
|
|
Adjustments in respect of prior periods |
|
|
|
--------- |
-------- |
|
|
Total current tax |
|
(
|
|
--------- |
-------- |
|
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Origination and reversal of timing differences |
(
|
(
|
|
-------- |
--------- |
|
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Tax on profit |
|
(
|
|
-------- |
--------- |
|
|
Period from |
||
|
1 Jun 23 to |
Year to |
|
|
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
|
|
Profit/(loss) on ordinary activities before taxation |
|
(
|
|
--------- |
--------- |
|
|
Profit/(loss) on ordinary activities by rate of tax |
|
(
|
|
Adjustment to tax charge in respect of prior periods |
|
(2,977) |
|
Effect of expenses not deductible for tax purposes |
|
|
|
Effect of capital allowances and depreciation |
– |
(
|
|
Unused tax losses |
– |
(
|
|
--------- |
--------- |
|
|
Tax on profit |
|
(
|
|
--------- |
--------- |
|
|
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
|
|
Dividends paid during the period (excluding those for which a liability existed at the end of the prior period ) |
|
|
|
--------- |
--------- |
|
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Group |
Goodwill |
|
£ |
|
|
Cost |
|
|
At 1 June 2023 |
(
|
|
Acquisitions through business combinations |
(
|
|
------------ |
|
|
At 30 November 2024 |
(
|
|
------------ |
|
|
Amortisation |
|
|
At 1 June 2023 |
(
|
|
Charge for the period |
(
|
|
------------ |
|
|
At 30 November 2024 |
(
|
|
------------ |
|
|
Carrying amount |
|
|
At 30 November 2024 |
– |
|
------------ |
|
|
At 31 May 2023 |
– |
|
------------ |
|
|
Group |
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
||||||
|
At 1 Jun 2023 |
|
|
|
|
|
|
|
Additions |
– |
|
|
|
|
|
|
Disposals |
– |
– |
– |
(
|
– |
(
|
|
--------- |
--------- |
-------- |
------------ |
-------- |
------------ |
|
|
At 30 Nov 2024 |
|
|
|
|
|
|
|
--------- |
--------- |
-------- |
------------ |
-------- |
------------ |
|
|
Depreciation |
||||||
|
At 1 Jun 2023 |
|
|
|
|
|
|
|
Charge for the period |
– |
|
|
|
|
|
|
Disposals |
– |
– |
– |
(
|
– |
(
|
|
--------- |
--------- |
-------- |
------------ |
-------- |
------------ |
|
|
At 30 Nov 2024 |
|
|
|
|
|
|
|
--------- |
--------- |
-------- |
------------ |
-------- |
------------ |
|
|
Carrying amount |
||||||
|
At 30 Nov 2024 |
|
|
|
|
|
|
|
--------- |
--------- |
-------- |
------------ |
-------- |
------------ |
|
|
At 31 May 2023 |
|
|
|
|
|
|
|
--------- |
--------- |
-------- |
------------ |
-------- |
------------ |
|
|
Group |
Freehold property |
|
£ |
|
|
At 30 November 2024 |
|
|
Aggregate cost |
341,683 |
|
Aggregate depreciation |
(101,175) |
|
--------- |
|
|
Carrying value |
|
|
--------- |
|
|
At 31 May 2023 |
|
|
Aggregate cost |
341,683 |
|
Aggregate depreciation |
(95,690) |
|
--------- |
|
|
Carrying value |
|
|
--------- |
|
|
Group |
Motor vehicles |
|
£ |
|
|
At 30 November 2024 |
|
|
--------- |
|
|
At 31 May 2023 |
|
|
--------- |
|
|
Company |
Shares in group undertakings |
|
£ |
|
|
Cost |
|
|
At 1 June 2023 |
|
|
Additions |
|
|
--------- |
|
|
At 30 November 2024 |
|
|
--------- |
|
|
Impairment |
|
|
At 1 June 2023 and 30 November 2024 |
– |
|
--------- |
|
|
Carrying amount |
|
|
At 30 November 2024 |
|
|
--------- |
|
|
At 31 May 2023 |
|
|
--------- |
|
|
Registered office |
Class of share |
Percentage of shares held |
|
|
Subsidiary undertakings |
|||
|
|
Browns Yard, Seas End Road, Moulton Loosegate, Spalding, Lincs, United Kingdom, PE12 6JX |
Ordinary |
100 |
|
|
Browns Yard, Seas End Road, Moulton Seas End, Spalding, United Kingdom, PE12 6JX |
Ordinary |
100 |
|
Group |
Company |
|||
|
30 Nov 24 |
31 May 23 |
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
£ |
£ |
|
|
Raw materials and consumables |
|
|
– |
– |
|
Work in progress |
|
|
– |
– |
|
------------ |
--------- |
---- |
---- |
|
|
|
|
– |
– |
|
|
------------ |
--------- |
---- |
---- |
|
|
Group |
Company |
|||
|
30 Nov 24 |
31 May 23 |
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
£ |
£ |
|
|
Trade debtors |
|
|
– |
– |
|
Amounts owed by group undertakings |
– |
|
– |
|
|
Prepayments and accrued income |
|
|
– |
– |
|
Directors loan account |
|
|
|
|
|
Other debtors |
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
|
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
Group |
Company |
|||
|
30 Nov 24 |
31 May 23 |
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
– |
– |
|
Trade creditors |
|
|
– |
– |
|
Amounts owed to group undertakings |
– |
– |
|
|
|
Accruals and deferred income |
|
|
|
|
|
Corporation tax |
|
|
|
|
|
Social security and other taxes |
|
|
– |
– |
|
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
|
Other creditors |
|
|
|
|
|
------------ |
------------ |
--------- |
------------ |
|
|
|
|
|
|
|
|
------------ |
------------ |
--------- |
------------ |
|
|
Group |
Company |
|||
|
30 Nov 24 |
31 May 23 |
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
– |
– |
|
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
|
Other creditors |
|
|
– |
– |
|
--------- |
------------ |
---- |
---- |
|
|
|
|
– |
– |
|
|
--------- |
------------ |
---- |
---- |
|
|
Group |
Company |
|||
|
30 Nov 24 |
31 May 23 |
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
|
|
– |
– |
|
|
--------- |
--------- |
---- |
---- |
|
|
Group |
Deferred tax (note 22) |
|
£ |
|
|
At 1 June 2023 |
|
|
Additions |
|
|
--------- |
|
|
At 30 November 2024 |
|
|
--------- |
|
|
Group |
Company |
|||
|
30 Nov 24 |
31 May 23 |
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
£ |
£ |
|
|
Included in provisions (note 21) |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
Group |
Company |
|||
|
30 Nov 24 |
31 May 23 |
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
£ |
£ |
|
|
Accelerated capital allowances |
|
|
– |
– |
|
Revaluation of tangible assets |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
243,612 |
186,598 |
– |
– |
|
|
--------- |
--------- |
---- |
---- |
|
|
30 Nov 24 |
31 May 23 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
– |
– |
|
646 |
|
|
|
850 |
– |
– |
|
|
– |
– |
|
276 |
|
|
|
100 |
– |
– |
|
|
|
50 |
– |
– |
|
--------- |
------- |
---- |
---- |
|
|
|
1,000 |
|
922 |
|
|
--------- |
------- |
---- |
---- |
|
|
At 1 Jun 2023 |
Cash flows |
At 30 Nov 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
(660,930) |
|
|
Debt due within one year |
(327,769) |
(62,779) |
(390,548) |
|
Debt due after one year |
(912,496) |
294,951 |
(617,545) |
|
--------- |
--------- |
--------- |
|
|
(
|
(
|
(
|
|
|
--------- |
--------- |
--------- |
|
|
Group |
Company |
|||
|
30 Nov 24 |
31 May 23 |
30 Nov 24 |
31 May 23 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
-------- |
-------- |
---- |
---- |
|
|
|
|
– |
– |
|
|
-------- |
-------- |
---- |
---- |
|
|
|
|
Notes to the Financial Statements (continued) |