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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 |
5 |
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Independent auditor's report to the members |
7 |
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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 Certified Accountants & statutory auditor |
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Axis 15, Axis Court |
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Mallard Way |
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Riverside Business Park |
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Swansea |
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SA7 0AJ |
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Strategic Report |
| 2024 | 2023 | ||
| £ | £ | ||
| Turnover | 13,584,869 | 13,366,031 | |
| Gross profit % | 39 | 38 | |
| Gross profit | 5,342,878 | 5,083,140 | |
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Directors' Report |
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Mrs M Richards
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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 Certified Accountants & statutory auditor |
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Axis 15, Axis Court |
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Mallard Way |
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Riverside Business Park |
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Swansea |
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SA7 0AJ |
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Consolidated Statement of Comprehensive Income |
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2024 |
2023 |
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Note |
£ |
£ |
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TURNOVER |
4 |
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Cost of sales |
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------------- |
------------- |
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GROSS PROFIT |
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Administrative expenses |
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------------ |
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OPERATING PROFIT |
5 |
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Other interest receivable and similar income |
9 |
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Interest payable and similar expenses |
10 |
– |
(
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PROFIT BEFORE TAXATION |
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Tax on profit |
11 |
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------------ |
------------ |
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PROFIT FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME |
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------------ |
------------ |
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Consolidated Statement of Financial Position |
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2024 |
2023 |
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Note |
£ |
£ |
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Tangible assets |
13 |
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Stocks |
15 |
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Debtors |
16 |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
17 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Taxation including deferred tax |
18 |
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------------ |
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NET ASSETS |
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------------ |
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Called up share capital |
21 |
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Share premium account |
22 |
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Capital redemption reserve |
22 |
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Other reserves, including the fair value reserve |
22 |
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Profit and loss account |
22 |
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SHAREHOLDERS FUNDS |
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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 |
14 |
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Debtors |
16 |
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--------- |
--------- |
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NET CURRENT ASSETS |
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--------- |
--------- |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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--------- |
--------- |
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Called up share capital |
21 |
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Share premium account |
22 |
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--------- |
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SHAREHOLDERS FUNDS |
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--------- |
--------- |
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Consolidated Statement of Changes in Equity |
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Called up share capital |
Share premium account |
Capital redemption reserve |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
£ |
£ |
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AT 1 OCTOBER 2022 |
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Profit for the year |
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---- |
--------- |
---- |
---- |
------------ |
------------ |
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TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
– |
– |
– |
– |
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Dividends paid and payable |
12 |
– |
– |
– |
– |
(
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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 30 SEPTEMBER 2023 |
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Profit for the year |
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---- |
--------- |
---- |
---- |
------------ |
------------ |
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TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
– |
– |
– |
– |
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Dividends paid and payable |
12 |
– |
– |
– |
– |
(
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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 SEPTEMBER 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 |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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AT 1 OCTOBER 2022 |
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– |
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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 |
12 |
– |
– |
(
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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 30 SEPTEMBER 2023 |
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– |
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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 |
12 |
– |
– |
(
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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 SEPTEMBER 2024 |
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– |
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---- |
--------- |
--------- |
--------- |
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Consolidated Statement of Cash Flows |
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2024 |
2023 |
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Note |
£ |
£ |
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Cash generated from operations |
23 |
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Interest paid |
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Interest received |
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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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------------ |
------------ |
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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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------------ |
------------ |
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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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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 INCREASE IN CASH AND CASH EQUIVALENTS |
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CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |
4,479,707 |
3,721,737 |
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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 & machinery |
- |
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Computer Equipment |
- |
33% per annum of cost |
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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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Depreciation of tangible assets |
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Gains on disposal of tangible assets |
(
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(
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Impairment of trade debtors |
54,263 |
9,186 |
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Operating lease rentals |
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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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Distribution staff |
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Administrative staff |
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Management staff |
10 |
9 |
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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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Interest on cash and cash equivalents |
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--------- |
-------- |
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2024 |
2023 |
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|
£ |
£ |
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Interest on obligations under finance leases and hire purchase contracts |
– |
(
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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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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 on ordinary activities before taxation |
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|
------------ |
------------ |
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Profit on ordinary activities by rate of tax |
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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 UK tax rates on some earnings |
– |
(49,812) |
|
Deferred tax |
4,893 |
16,524 |
|
------------ |
------------ |
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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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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 |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 October 2023 |
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Additions |
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Disposals |
– |
– |
(
|
(
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--------- |
-------- |
--------- |
------------ |
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At 30 September 2024 |
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--------- |
-------- |
--------- |
------------ |
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Depreciation |
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At 1 October 2023 |
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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 30 September 2024 |
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--------- |
-------- |
--------- |
------------ |
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Carrying amount |
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At 30 September 2024 |
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--------- |
-------- |
--------- |
------------ |
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At 30 September 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 October 2023 and 30 September 2024 |
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---- |
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Impairment |
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At 1 October 2023 and 30 September 2024 |
– |
|
---- |
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Carrying amount |
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At 1 October 2023 and 30 September 2024 |
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---- |
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At 30 September 2023 |
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---- |
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Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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1000 £1 ordinary shares |
100 |
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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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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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|
£ |
£ |
£ |
£ |
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Trade debtors |
|
|
– |
– |
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Amounts owed by group undertakings |
– |
– |
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Prepayments and accrued income |
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|
– |
– |
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Other debtors |
|
|
– |
– |
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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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|
– |
– |
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Accruals and deferred income |
|
|
– |
– |
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Corporation tax |
|
|
– |
– |
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Social security and other taxes |
|
|
– |
– |
|
Other creditors |
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
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– |
– |
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------------ |
------------ |
---- |
---- |
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Group |
Deferred tax (note 19) |
|
£ |
|
|
At 1 October 2023 |
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|
Charge against provision |
|
|
--------- |
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At 30 September 2024 |
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|
--------- |
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|
Group |
Company |
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|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Included in provisions (note 18) |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
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Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Accelerated capital allowances |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
550 |
|
550 |
|
---- |
---- |
---- |
---- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Profit for the financial year |
|
|
|
Adjustments for: |
||
|
Depreciation of tangible assets |
|
|
|
Other interest receivable and similar income |
(
|
(
|
|
Interest payable and similar expenses |
– |
(
|
|
Gains on disposal of tangible assets |
(
|
(
|
|
Tax on profit |
|
|
|
Accrued expenses/(income) |
|
(
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|
Changes in: |
||
|
Stocks |
|
(
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|
Trade and other debtors |
|
(
|
|
Trade and other creditors |
|
|
|
------------ |
------------ |
|
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|
------------ |
------------ |
|
|
At 1 Oct 2023 |
Cash flows |
At 30 Sep 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
1,109,304 |
|
|
------------ |
------------ |
------------ |
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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 |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
|
|
– |
– |
|
|
--------- |
--------- |
---- |
---- |
|
| 2024 | 2023 | ||
| £ | £ | ||
| Balance due (to) | (35,289) | (128,110) | |
| Purchases from | 206,659 | 65,619 | |
| Sales to | 37,711 | 20,739 | |
| Rent paid to | 77,500 | 77,500 | |
| Management charges with | 84,000 | 143,000 | |
| Pension contributions to | 52,750 | 25,000 | |