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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 |
7 |
|
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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Northern Ireland |
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Auditor |
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Chartered accountants & statutory auditor |
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Suite 2, 2 Mannin Way |
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Lancaster Business Park |
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Caton Road |
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Lancaster |
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LA1 3SU |
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Strategic Report |
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Dr T C Mamisch
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Director |
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Registered office: |
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Northern Ireland |
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Directors' Report |
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Dr T C Mamisch
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(Appointed
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Mrs L Mendelsohn
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(Appointed
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Mr J B Campbell
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(Appointed
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Mr R Parsons
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(Resigned
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Mr A White
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(Resigned
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Mr G White
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(Resigned
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Mr L White
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(Resigned
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Mr T White
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(Resigned
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Dr T C Mamisch
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Director |
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Registered office: |
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Northern Ireland |
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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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Suite 2, 2 Mannin Way |
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Lancaster Business Park |
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Caton Road |
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Lancaster |
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LA1 3SU |
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Consolidated Statement of Comprehensive Income |
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Period from |
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1 Apr 24 to |
Year to |
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31 Dec 24 |
31 Mar 24 |
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(restated) |
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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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------------ |
------------ |
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Operating profit |
6 |
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Other interest receivable and similar income |
10 |
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Interest payable and similar expenses |
11 |
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------------ |
------------ |
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Profit before taxation |
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Tax on profit |
12 |
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------------ |
------------ |
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Profit for the financial period and total comprehensive income |
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------------ |
------------ |
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Consolidated Statement of Financial Position |
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31 Dec 24 |
31 Mar 24 |
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(restated) |
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Note |
£ |
£ |
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Tangible assets |
15 |
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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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------------ |
------------- |
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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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------------ |
------------ |
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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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Provisions |
22 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
27 |
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Profit and loss account |
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------------ |
------------ |
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Shareholders funds |
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------------ |
------------ |
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Dr T C Mamisch
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Director |
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Company Statement of Financial Position |
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31 Dec 24 |
31 Mar 24 |
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(restated) |
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Note |
£ |
£ |
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Intangible assets |
– |
(
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Investments |
16 |
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---- |
--------- |
||
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(
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Debtors |
18 |
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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 |
19 |
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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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Net assets |
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--------- |
------------ |
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Called up share capital |
27 |
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Profit and loss account |
(
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--------- |
------------ |
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Shareholders funds |
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--------- |
------------ |
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Dr T C Mamisch
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|
Director |
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Consolidated Statement of Changes in Equity |
|
Called up share capital |
Profit and loss account |
Total |
||
|
£ |
£ |
£ |
||
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At 1 April 2023 |
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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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Dividends paid and payable |
13 |
– |
(
|
(
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|
--------- |
------------ |
------------ |
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Total investments by and distributions to owners |
– |
(
|
(
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At 31 March 2024 |
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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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Dividends paid and payable |
13 |
– |
(
|
(
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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 December 2024 |
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|
--------- |
------------ |
------------ |
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Company Statement of Changes in Equity |
|
Called up share capital |
Profit and loss account |
Total |
||
|
£ |
£ |
£ |
||
|
At 1 April 2023 |
|
– |
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Profit for the period |
|
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||
|
--------- |
------------ |
------------ |
||
|
Total comprehensive income for the period |
– |
|
|
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Dividends paid and payable |
13 |
– |
(
|
(
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|
--------- |
------------ |
------------ |
||
|
Total investments by and distributions to owners |
– |
(
|
(
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At 31 March 2024 |
|
1,353,779
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1,859,289
|
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Profit for the period |
|
|
||
|
--------- |
------------ |
------------ |
||
|
Total comprehensive income for the period |
– |
|
|
|
|
Dividends paid and payable |
13 |
– |
(
|
(
|
|
---- |
------------ |
------------ |
||
|
Total investments by and distributions to owners |
– |
(
|
(
|
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|
--------- |
------------ |
------------ |
||
|
At 31 December 2024 |
|
(
|
|
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|
--------- |
------------ |
------------ |
||
|
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Consolidated Statement of Cash Flows |
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
Profit for the financial period |
|
|
|
Adjustments for: |
||
|
Depreciation of tangible assets |
|
|
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Amortisation of intangible assets |
– |
(62,500) |
|
Government grant income |
(
|
(
|
|
Other interest receivable and similar income |
(
|
(
|
|
Interest payable and similar expenses |
|
|
|
Gains on disposal of tangible assets |
(
|
(
|
|
Tax on profit |
|
|
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Accrued (income)/expenses |
(
|
|
|
Changes in: |
||
|
Stocks |
(
|
(
|
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Trade and other debtors |
|
(
|
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Trade and other creditors |
|
|
|
Provisions and employee benefits |
– |
(
|
|
------------ |
------------ |
|
|
Cash generated from operations |
|
|
|
Interest paid |
(
|
(
|
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Interest received |
|
|
|
Tax paid |
(
|
(
|
|
------------ |
------------ |
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Net cash from operating activities |
|
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|
------------ |
------------ |
|
|
Purchase of tangible assets |
(
|
(
|
|
Proceeds from sale of tangible assets |
|
|
|
Proceeds from sale of intangible assets |
– |
|
|
------------ |
------------ |
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Net cash (used in)/from investing activities |
(
|
|
|
------------ |
------------ |
|
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Proceeds from borrowings |
(
|
(
|
|
Government grant income |
|
|
|
Payments of finance lease liabilities |
(
|
(
|
|
Dividends paid |
(
|
(
|
|
------------ |
------------ |
|
|
Net cash used in financing activities |
(
|
(
|
|
------------ |
------------ |
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|
Net (decrease)/increase in cash and cash equivalents |
(
|
|
|
Cash and cash equivalents at beginning of period |
5,134,737 |
3,523,180 |
|
------------ |
------------ |
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|
Cash and cash equivalents at end of period |
|
|
|
------------ |
------------ |
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Notes to the Financial Statements |
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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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Period from |
||
|
1 Apr 24 to |
Year to |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
Construction contracts |
|
|
|
------------- |
------------- |
|
|
Period from |
||
|
1 Apr 24 to |
Year to |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
United Kingdom |
|
|
|
Overseas |
|
|
|
------------- |
------------- |
|
|
|
|
|
|
------------- |
------------- |
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|
Period from |
||
|
1 Apr 24 to |
Year to |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
Government grant income |
|
|
|
------- |
------- |
|
|
Period from |
||
|
1 Apr 24 to |
Year to |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
Amortisation of intangible assets |
– |
(
|
|
Depreciation of tangible assets |
|
|
|
Gains on disposal of tangible assets |
(
|
(
|
|
Impairment of trade debtors |
225,505 |
190,699 |
|
Operating lease rentals |
|
|
|
Foreign exchange differences |
|
|
|
--------- |
--------- |
|
|
Period from |
||
|
1 Apr 24 to |
Year to |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
Fees payable for the audit of the financial statements |
|
|
|
-------- |
-------- |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
No. |
No. |
|
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Directors |
|
|
|
Staff |
|
|
|
---- |
---- |
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|
---- |
---- |
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Period from |
||
|
1 Apr 24 to |
Year to |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
------------ |
------------ |
|
|
|
|
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|
------------ |
------------ |
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Period from |
||
|
1 Apr 24 to |
Year to |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
Remuneration |
|
|
|
Company contributions to defined contribution pension plans |
|
|
|
--------- |
--------- |
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|
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--------- |
--------- |
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Period from |
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|
1 Apr 24 to |
Year to |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
Interest on cash and cash equivalents |
|
|
|
-------- |
--------- |
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Period from |
||
|
1 Apr 24 to |
Year to |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Other interest payable and similar charges |
|
|
|
-------- |
-------- |
|
|
|
|
|
|
-------- |
-------- |
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Period from |
||
|
1 Apr 24 to |
Year to |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
UK current tax expense |
|
|
|
Impact of changes in accounting policies and material errors |
– |
|
|
--------- |
--------- |
|
|
Total current tax |
|
|
|
--------- |
--------- |
|
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Origination and reversal of timing differences |
(
|
|
|
--------- |
--------- |
|
|
Tax on profit |
|
|
|
--------- |
--------- |
|
|
Period from |
||
|
1 Apr 24 to |
Year to |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
Profit on ordinary activities before taxation |
|
|
|
------------ |
------------ |
|
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Profit on ordinary activities by rate of tax |
|
|
|
Effect of expenses not deductible for tax purposes |
|
|
|
Effect of capital allowances and depreciation |
|
|
|
Research and development tax credit |
(
|
(
|
|
Accrued expenses from prior year paid |
(
|
– |
|
------------ |
------------ |
|
|
Tax on profit |
|
|
|
------------ |
------------ |
|
|
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
||
|
£ |
£ |
|
|
Dividends paid during the period (excluding those for which a liability existed at the end of the prior period ) |
|
|
|
Dividends proposed after the period end and not recognised as a liability |
– |
|
|
------------ |
------------ |
|
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Group |
Goodwill |
|
£ |
|
|
Cost |
|
|
At 1 April 2024 (as restated) and 31 December 2024 |
|
|
-------- |
|
|
Amortisation |
|
|
At 1 April 2024 and 31 December 2024 |
|
|
-------- |
|
|
Carrying amount |
|
|
At 1 April 2024 and 31 December 2024 |
– |
|
-------- |
|
|
At 31 March 2024 |
– |
|
-------- |
|
|
Group |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
|
|
Cost |
||||
|
At 1 April 2024 (as restated) |
|
|
|
|
|
Additions |
|
|
– |
|
|
Disposals |
(
|
– |
(
|
(
|
|
------------ |
--------- |
--------- |
------------ |
|
|
At 31 December 2024 |
|
|
|
|
|
------------ |
--------- |
--------- |
------------ |
|
|
Depreciation |
||||
|
At 1 April 2024 |
|
|
|
|
|
Charge for the period |
|
|
|
|
|
Disposals |
(
|
– |
(
|
(
|
|
------------ |
--------- |
--------- |
------------ |
|
|
At 31 December 2024 |
|
|
|
|
|
------------ |
--------- |
--------- |
------------ |
|
|
Carrying amount |
||||
|
At 31 December 2024 |
|
|
|
|
|
------------ |
--------- |
--------- |
------------ |
|
|
At 31 March 2024 |
|
|
|
|
|
------------ |
--------- |
--------- |
------------ |
|
|
Group |
Motor vehicles |
|
£ |
|
|
At 31 December 2024 |
|
|
--------- |
|
|
At 31 March 2024 |
|
|
--------- |
|
|
Company |
Shares in group undertakings |
|
£ |
|
|
Cost |
|
|
At 1 April 2024 as restated and 31 December 2024 |
|
|
---- |
|
|
Impairment |
|
|
At 1 April 2024 as restated and 31 December 2024 |
– |
|
---- |
|
|
Carrying amount |
|
|
At 1 April 2024 and 31 December 2024 |
|
|
---- |
|
|
At 31 March 2024 |
|
|
---- |
|
|
Class of share |
Percentage of shares held |
|
|
Subsidiary undertakings |
||
|
|
Ordinary Shares |
100 |
|
Group |
Company |
|||
|
31 Dec 24 |
31 Mar 24 |
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
(restated) |
|||
|
£ |
£ |
£ |
£ |
|
|
Raw materials and consumables |
|
|
– |
– |
|
Work in progress |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
|
|
– |
– |
|
|
--------- |
--------- |
---- |
---- |
|
|
Group |
Company |
|||
|
31 Dec 24 |
31 Mar 24 |
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
(restated) |
|||
|
£ |
£ |
£ |
£ |
|
|
Trade debtors |
|
|
– |
– |
|
Prepayments and accrued income |
|
|
– |
– |
|
Other debtors |
|
|
|
|
|
------------ |
------------ |
------- |
--------- |
|
|
|
|
|
|
|
|
------------ |
------------ |
------- |
--------- |
|
|
Group |
Company |
|||
|
31 Dec 24 |
31 Mar 24 |
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
(restated) |
|||
|
£ |
£ |
£ |
£ |
|
|
Trade creditors |
|
|
– |
– |
|
Accruals and deferred income |
|
|
|
|
|
Social security and other taxes |
|
|
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
|
Director loan accounts |
– |
|
– |
– |
|
Other creditors |
404,220 |
126,489 |
– |
– |
|
------------ |
------------ |
-------- |
-------- |
|
|
|
|
|
|
|
|
------------ |
------------ |
-------- |
-------- |
|
|
Group |
Company |
|||
|
31 Dec 24 |
31 Mar 24 |
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
(restated) |
|||
|
£ |
£ |
£ |
£ |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
|
-------- |
--------- |
---- |
---- |
|
|
Group |
Company |
|||
|
31 Dec 24 |
31 Mar 24 |
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
(restated) |
|||
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
|
|
– |
– |
|
|
--------- |
--------- |
---- |
---- |
|
|
Group |
Deferred tax (note 23) |
Defects and warranties |
Total |
|
£ |
£ |
£ |
|
|
At 1 April 2024 (as restated) |
|
|
|
|
Charge against provision |
(
|
– |
(
|
|
--------- |
-------- |
--------- |
|
|
At 31 December 2024 |
|
|
|
|
--------- |
-------- |
--------- |
|
|
Group |
Company |
|||
|
31 Dec 24 |
31 Mar 24 |
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
(restated) |
|||
|
£ |
£ |
£ |
£ |
|
|
Included in provisions (note 22) |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
Group |
Company |
|||
|
31 Dec 24 |
31 Mar 24 |
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
(restated) |
|||
|
£ |
£ |
£ |
£ |
|
|
Accelerated capital allowances |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
Group |
Company |
|||
|
31 Dec 24 |
31 Mar 24 |
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
(restated) |
|||
|
£ |
£ |
£ |
£ |
|
|
Deferred government grants due within one year |
|
|
– |
– |
|
-------- |
-------- |
---- |
---- |
|
|
Government grants recognised directly in income |
|
|
– |
– |
|
------- |
------- |
---- |
---- |
|
|
31 Dec 24 |
31 Mar 24 |
|||
|
(restated) |
||||
|
No. |
£ |
No. |
£ |
|
|
|
– |
– |
|
510 |
|
|
|
505,000 |
|
505,000 |
|
|
|
383 |
– |
– |
|
|
|
128 |
– |
– |
|
--------- |
--------- |
--------- |
--------- |
|
|
|
505,510 |
|
505,510 |
|
|
--------- |
--------- |
--------- |
--------- |
|
|
At 1 Apr 2024 |
Cash flows |
At 31 Dec 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
(2,197,999) |
|
|
Debt due within one year |
(301,717) |
272,082 |
(29,635) |
|
Debt due after one year |
(117,299) |
22,227 |
(95,072) |
|
------------ |
------------ |
------------ |
|
|
|
(
|
|
|
|
------------ |
------------ |
------------ |
|
|
|
|
Notes to the Financial Statements (continued) |
|
Group |
Company |
|||
|
31 Dec 24 |
31 Mar 24 |
31 Dec 24 |
31 Mar 24 |
|
|
(restated) |
(restated) |
|||
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
Later than 5 years |
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
|
|
– |
– |
|
|
------------ |
------------ |
---- |
---- |
|
|
31 Dec 24 |
||||
|
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
|
£ |
£ |
£ |
||
|
|
(
|
|
– |
|
|
|
(
|
|
– |
|
|
|
(
|
|
– |
|
|
|
(
|
|
– |
|
|
|
(
|
|
– |
|
|
--------- |
--------- |
---- |
||
|
(
|
|
– |
||
|
--------- |
--------- |
---- |
||
|
31 Mar 24 |
||||
|
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
|
£ |
£ |
£ |
||
|
|
(
|
|
(
|
|
|
|
(
|
|
(
|
|
|
|
(
|
|
(
|
|
|
|
(
|
|
(
|
|
|
|
(
|
|
(
|
|
|
--------- |
--------- |
--------- |
||
|
(
|
|
(
|
||
|
--------- |
--------- |
--------- |
||