|
Director
|
Company Secretary
|
|
27 May 2025
|
|
|
|
|
|
|
|
Director
|
Company Secretary
|
|
|
|
for and on behalf of
|
|
|
| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| TURNOVER |
|
|
||
| Cost of sales |
( |
( |
||
| GROSS PROFIT |
|
|
||
| Administrative expenses |
( |
( |
||
| Other operating income |
|
|
||
| OPERATING PROFIT | 4 |
|
|
|
| (Loss)/profit on disposal of fixed assets |
( |
|
||
| Other interest receivable and similar income | 9 |
|
|
|
| Interest payable and similar charges | 10 |
( |
( |
|
| PROFIT BEFORE TAXATION |
|
|
||
| Tax on Profit | 11 |
|
|
|
| PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
|
|
||
| RETAINED EARNINGS | ||||
| As at 1 January 2024 |
|
|
||
| Dividends paid | (717,000) | (732,000) | ||
| As at 31 December 2024 |
|
|
||
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 12 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Stocks | 13 |
|
|
||
| Debtors | 14 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 15 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year | 16 |
( |
( |
||
| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 19 |
( |
( |
||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 21 |
|
|
||
| Revaluation reserve | 26 |
|
|
||
| Capital redemption reserve |
|
|
|||
| Profit and Loss Account |
|
|
|||
| SHAREHOLDERS' FUNDS | 5,749,155 | 6,027,989 | |||
|
Director
|
|
|
| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| Cash flows from operating activities | ||||
| Net cash (used in)/generated from operations | 1 |
( |
|
|
| Interest paid |
( |
( |
||
| Tax refunded |
|
|
||
| Net cash (used in)/generated from operating activities |
( |
|
||
| Cash flows from investing activities | ||||
| Purchase of tangible assets |
( |
( |
||
| Proceeds from disposal of tangible assets |
|
|
||
| Interest received |
|
|
||
| Net cash generated from/(used in) investing activities |
|
( |
||
| Cash flows from financing activities | ||||
| Equity dividends paid |
( |
( |
||
| Repayment of bank borrowings |
( |
( |
||
| Repayment of finance leases |
( |
( |
||
| Amount introduced by directors | 18,125 | - | ||
| Amount withdrawn by directors | - | (72,849) | ||
| Net cash used in financing activities |
( |
( |
||
| (Decrease)/increase in cash and cash equivalents |
( |
|
||
| Cash and cash equivalents at beginning of year | 2 |
|
|
|
| Cash and cash equivalents at end of year | 2 |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Profit for the financial year |
|
|
|
| Adjustments for: | |||
| Tax on profit |
( |
( |
|
| Interest expense |
|
|
|
| Interest income |
( |
( |
|
| Depreciation of tangible assets |
|
|
|
| Loss/(profit) on disposal of tangible assets | 3,709 | (5,372) | |
| Movements in working capital: | |||
| (Increase)/decrease in stocks |
( |
|
|
| (Increase)/decrease in trade and other debtors |
( |
|
|
| Decrease in trade and other creditors |
( |
( |
|
| Net cash (used in)/generated from operations |
( |
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Cash at bank and in hand |
|
|
|
| As at 1 January 2024 | Cash flows | As at 31 December 2024 | |
|---|---|---|---|
| £ | £ | £ | |
| Cash at bank and in hand |
|
(830,561) |
|
| Finance leases | (120,738) | 120,738 | - |
| Debts falling due within one year |
( |
4,638 |
( |
| Debts falling due after more than one year | (130,491) | 55,015 | (75,476) |
| 1,460,124 | (650,170) | 809,954 | |
|
United Kingdom
|
11,391,181
|
12,644,247
|
|
Overseas
|
159,700
|
299,317
|
|
11,550,881
|
12,943,564
|
| Leasehold |
|
| Plant and machinery |
|
| Motor vehicles |
|
| Fixtures and fittings |
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Other operating income |
|
|
|
| 3,146 | 52,599 | ||
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | 12 | 24,246 | |
| Depreciation of tangible fixed assets |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
| 2024 | 2023 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Sales, marketing and distribution |
|
|
|
| Manufacturing |
|
|
|
|
|
|
||
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Finance charges payable under finance leases and hire purchase contracts | 7,337 | 5,450 | |
| Foreign exchange charges |
|
( |
|
| 15,202 | 20,094 | ||
|
The tax credit on the profit for the year was as follows:
|
|||||
| Tax Rate | 2024 | 2023 | |||
|---|---|---|---|---|---|
| 2024 | 2023 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
( |
( |
|
| Deferred Tax | |||||
| Deferred taxation |
( |
( |
|||
| Total tax charge for the period |
( |
( |
|||
|
The actual credit for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
|
|||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Profit before tax | 125,738 | 401,097 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
|
( |
|||
| Tax losses utilised |
( |
( |
|||
| Capital allowances |
( |
( |
|||
| Short term timing differences |
( |
( |
|||
| Research and Development tax credit |
( |
( |
|||
| Total tax charge for the period | (312,353) | (610,883) | |||
| Land & Property | |||||
|---|---|---|---|---|---|
| Leasehold | Plant and machinery | Motor vehicles | Fixtures and fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 January 2024 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| Disposals |
|
|
( |
( |
( |
| As at 31 December 2024 |
|
|
|
|
|
| Depreciation | |||||
| As at 1 January 2024 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| Disposals |
|
|
( |
( |
( |
| As at 31 December 2024 |
|
|
|
|
|
| Net Book Value | |||||
| As at 31 December 2024 |
|
|
|
|
|
| As at 1 January 2024 |
|
|
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Plant and machinery |
|
|
|
| Land & Property | |
|---|---|
| Leasehold | |
| £ | |
| Cost | 745,938 |
| Accumulated depreciation and impairment | 353,676 |
| Carrying amount |
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Materials |
|
|
|
| Finished goods |
|
|
|
| Work in progress |
|
|
|
|
|
|
||
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Other debtors | 298,932 | 344,337 | |
|
|
|
||
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts | - |
|
|
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Corporation tax | - |
|
|
| Other taxes and social security |
|
|
|
| VAT |
|
|
|
| Net wages | 36,694 | - | |
| Other creditors |
|
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year or on demand: | |||
| Bank loans |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due between one and five years: | |||
| Bank loans |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
|
|
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 184,278 | 296,713 | |
| Deferred Tax | Total | |
|---|---|---|
| £ | £ | |
| As at 1 January 2024 |
|
296,713 |
| Utilised |
( |
(112,435) |
| Balance at 31 December 2024 |
|
184,278 |
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
| As at 1 January 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 December 2024 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Clifford Graham |
|
|
|
- |
|
| Mr Paul Norman |
|
|
|
- |
|
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
|
|
|