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Financial Statements |
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Contents |
Page |
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Strategic report |
1 |
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Directors' report |
3 |
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Independent auditor's report to the members |
5 |
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Consolidated income statement |
9 |
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Consolidated statement of financial position |
10 |
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Company statement of financial position |
11 |
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Consolidated statement of changes in equity |
12 |
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Company statement of changes in equity |
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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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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392-394 Hoylake Road |
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Moreton |
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Wirral |
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CH46 6DF |
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Consolidated Income Statement |
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2024 |
2023 |
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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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------------- |
------------- |
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Gross profit |
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Administrative expenses |
(
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(
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--------- |
------------ |
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Operating (loss)/profit |
5 |
(
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Other interest receivable and similar income |
8 |
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Interest payable and similar expenses |
9 |
(
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(
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--------- |
------------ |
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(Loss)/profit before taxation |
(
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Tax on (loss)/profit |
10 |
– |
(
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-------- |
-------- |
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(Loss)/profit for the financial 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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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 |
15 |
(
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(
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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 |
16 |
(
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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 |
18 |
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Profit and loss account |
19 |
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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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2024 |
2023 |
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Note |
£ |
£ |
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Investments |
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 |
15 |
(
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(
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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 |
16 |
(
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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 |
18 |
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Share premium account |
19 |
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Other reserves, including the fair value reserve |
19 |
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Profit and loss account |
19 |
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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 |
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Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 4 April 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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Dividends paid and payable |
11 |
– |
(
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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 1 April 2023 |
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Loss for the year |
(
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(
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---- |
--------- |
--------- |
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Total comprehensive income for the year |
– |
(
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(
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Dividends paid and payable |
11 |
– |
(
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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 March 2024 |
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---- |
--------- |
--------- |
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Company Statement of Changes in Equity |
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Called up share capital |
Share premium account |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
£ |
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At 4 April 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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Dividends paid and payable |
11 |
– |
– |
– |
(
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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 1 April 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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Dividends paid and payable |
11 |
– |
– |
– |
(
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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 March 2024 |
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---- |
--------- |
--------- |
-------- |
--------- |
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Consolidated Statement of Cash Flows |
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2024 |
2023 |
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£ |
£ |
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(Loss)/profit for the financial year |
(
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Adjustments for: |
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Depreciation of tangible assets |
– |
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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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Tax on profit |
– |
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Accrued expenses/(income) |
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(
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Changes in: |
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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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(
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Interest paid |
(
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(
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Interest received |
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Tax received/(paid) |
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(
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-------- |
-------- |
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Net cash from/(used in) operating activities |
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(
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-------- |
-------- |
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Proceeds from borrowings |
(
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(
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Proceeds from loans from group undertakings |
(
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– |
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Dividends paid |
(
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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 |
273,419 |
475,166 |
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--------- |
--------- |
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Cash and cash equivalents at end of year |
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--------- |
--------- |
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Notes to the Financial Statements |
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Plant and machinery |
- |
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2024 |
2023 |
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£ |
£ |
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|
Rendering of services |
|
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|
------------- |
------------- |
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|
2024 |
2023 |
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|
£ |
£ |
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Depreciation of tangible assets |
– |
|
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Impairment of trade debtors |
– |
325,304 |
|
---- |
--------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
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Fees payable for the audit of the financial statements |
|
|
|
-------- |
-------- |
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Other non-audit services |
|
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-------- |
-------- |
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2024 |
2023 |
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No. |
No. |
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Apex employees |
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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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Interest on cash and cash equivalents |
|
– |
|
Other interest receivable and similar income |
– |
|
|
---- |
------- |
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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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Other interest payable and similar charges |
|
|
|
-------- |
------- |
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-------- |
------- |
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|
2024 |
2023 |
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|
£ |
£ |
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UK current tax expense |
– |
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Tax on profit |
– |
|
|
---- |
-------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
(Loss)/profit on ordinary activities before taxation |
(
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|
|
-------- |
-------- |
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(Loss)/profit on ordinary activities by rate of tax |
– |
|
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Effect of expenses not deductible for tax purposes |
– |
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Income not taxable for tax purposes |
– |
(9,500) |
|
-------- |
-------- |
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Tax on profit |
– |
|
|
-------- |
-------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
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 |
Plant and machinery |
|
£ |
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Cost |
|
|
At 2 April 2023 and 30 March 2024 |
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|
------- |
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Depreciation |
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At 2 April 2023 and 30 March 2024 |
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|
------- |
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Carrying amount |
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At 30 March 2024 |
– |
|
------- |
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At 1 April 2023 |
– |
|
------- |
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Company |
Shares in group undertakings |
|
£ |
|
|
Cost |
|
|
At 2 April 2023 and 30 March 2024 |
|
|
--------- |
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Impairment |
|
|
At 2 April 2023 and 30 March 2024 |
– |
|
--------- |
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|
Carrying amount |
|
|
At 2 April 2023 and 30 March 2024 |
|
|
--------- |
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At 1 April 2023 |
|
|
--------- |
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Shares in group undertakings |
||
|
£ |
||
|
Valuation in 2019 |
366,824 |
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Valuation in 2020 |
(241,489) |
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Valuation in 2022 |
333,135 |
|
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Cost |
500,000 |
|
|
--------- |
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|
958,470 |
||
|
--------- |
||
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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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Ordinary |
100 |
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Ordinary |
100 |
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|
Ordinary |
100 |
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Trade debtors |
|
|
– |
– |
|
Amounts owed by group undertakings |
– |
– |
|
|
|
Prepayments and accrued income |
|
|
– |
– |
|
Directors loan account |
– |
|
– |
|
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Other debtors |
|
|
– |
|
|
------------ |
------------ |
--------- |
--------- |
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------------ |
------------ |
--------- |
--------- |
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|
Group |
Company |
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|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
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Bank loans and overdrafts |
|
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Trade creditors |
|
|
– |
– |
|
Amounts owed to group undertakings |
(
|
– |
– |
– |
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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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|
– |
– |
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Other creditors |
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------------ |
------------ |
--------- |
--------- |
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------------ |
------------ |
--------- |
--------- |
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Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
|
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|
-------- |
-------- |
-------- |
-------- |
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|
2024 |
2023 |
|||
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No. |
£ |
No. |
£ |
|
|
|
|
265 |
|
265 |
|
|
|
88 |
|
88 |
|
-------- |
---- |
-------- |
---- |
|
|
|
353 |
|
353 |
|
|
-------- |
---- |
-------- |
---- |
|
|
At 2 Apr 2023 |
Cash flows |
At 30 Mar 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
(69,333) |
|
|
Debt due within one year |
(21,651) |
342 |
(21,309) |
|
Debt due after one year |
(49,223) |
19,718 |
(29,505) |
|
--------- |
-------- |
--------- |
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(
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--------- |
-------- |
--------- |
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|
Notes to the Financial Statements (continued) |
|
2024 |
|||||
|
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
|
£ |
£ |
£ |
£ |
||
|
|
|
– |
(
|
– |
|
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|
(
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|
– |
– |
|
|
-------- |
-------- |
-------- |
---- |
||
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|
(
|
– |
||
|
-------- |
-------- |
-------- |
---- |
||
|
2023 |
|||||
|
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
|
£ |
£ |
£ |
£ |
||
|
|
|
|
(
|
|
|
|
|
|
|
(
|
(
|
|
|
--------- |
------- |
-------- |
-------- |
||
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|
|
(
|
|
||
|
--------- |
------- |
-------- |
-------- |
||
| 2024 | 2023 | ||
| £ | £ | ||
| Transaction value: | |||
| Management fees incurred | 103,500 | – | |
| Balance owed by/(owed to): | |||
| Pearl Management Limited | 2,540,984 | 1,991,585 | |
| Emerald Contor Limited | 2,954 | 2,954 | |
| 2024 | 2023 | ||
| £ | £ | ||
| Balances owed by/(owed to) | |||
| Pearl Management Limited | (299,872) | (293,598) | |