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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 statement of income and retained earnings |
9 |
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Company statement of income and retained earnings |
10 |
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Consolidated statement of financial position |
11 |
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Company statement of financial position |
12 |
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Consolidated statement of cash flows |
13 |
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Notes to the financial statements |
14 |
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Strategic Report |
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Director |
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Registered office: |
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England |
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Directors' Report |
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Director |
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Registered office: |
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England |
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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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Alex House |
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260-268 Chapel Street |
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Salford |
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England |
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M3 5JZ |
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Consolidated Statement of Income and Retained Earnings |
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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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------------ |
------------ |
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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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Dividends paid and payable |
12 |
– |
(
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Retained earnings at the start of the year |
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------------ |
------------ |
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Retained earnings at the end of the year |
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------------ |
------------ |
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Company Statement of Income and Retained Earnings |
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2024 |
2023 |
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Note |
£ |
£ |
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
12 |
– |
(
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Retained losses at the start of the year |
(
|
(
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--------- |
--------- |
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Retained losses at the end of the year |
(
|
(
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--------- |
--------- |
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Consolidated Statement of Financial Position |
|
2024 |
2023 |
|
|
Note |
£ |
£ |
|
Intangible assets |
13 |
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Tangible assets |
14 |
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------------ |
------------ |
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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 |
19 |
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------------ |
------------ |
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Net current (liabilities)/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 |
25 |
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Profit and loss account |
26 |
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------------ |
------------ |
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Shareholders funds |
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------------ |
------------ |
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Director |
Director |
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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 |
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 |
19 |
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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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Creditors: amounts falling due after more than one year |
20 |
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------------ |
------------ |
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Net liabilities |
(
|
(
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------------ |
------------ |
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Called up share capital |
25 |
|
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Profit and loss account |
26 |
(
|
(
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-------- |
--------- |
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Shareholders deficit |
(
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(
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-------- |
--------- |
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Director |
Director |
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Director |
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Consolidated Statement of Cash Flows |
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2024 |
2023 |
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Note |
£ |
£ |
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Profit for the financial year |
|
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Adjustments for: |
||
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Depreciation of tangible assets |
338,038 |
293,443 |
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Amortisation of intangible 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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Loss/(gains) on disposal of tangible assets |
|
(
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Tax on profit |
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Accrued (income)/expenses |
(
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Changes in: |
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Stocks |
(
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(
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Trade and other debtors |
(
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(
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Trade and other creditors |
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------------ |
------------ |
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Cash generated from operations |
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Interest paid |
(
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(
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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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Proceeds from borrowings |
(
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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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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 |
1,543,455 |
1,758,654 |
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|
------------ |
------------ |
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Cash and cash equivalents at end of year |
18 |
|
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|
------------ |
------------ |
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Notes to the Financial Statements |
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Goodwill |
- |
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Plant and Machinery |
- |
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Fixtures and Office Equipment |
- |
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Commercial Vehicles |
- |
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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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Amortisation of intangible assets |
|
|
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Depreciation of tangible assets |
|
|
|
Loss/(gains) on disposal of tangible assets |
|
(
|
|
Impairment of trade debtors |
1,749 |
565 |
|
Operating lease rentals |
|
|
|
--------- |
--------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Fees payable for the audit of the financial statements |
|
|
|
-------- |
-------- |
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|
2024 |
2023 |
|
|
No. |
No. |
|
|
Production staff |
|
|
|
Administrative staff |
|
|
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Management staff |
3 |
3 |
|
---- |
---- |
|
|
|
|
|
|
---- |
---- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
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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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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Remuneration |
|
|
|
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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|
2024 |
2023 |
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|
£ |
£ |
|
|
Aggregate remuneration |
|
|
|
--------- |
--------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Interest on cash and cash equivalents |
|
|
|
-------- |
-------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Interest on banks loans and overdrafts |
|
|
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Interest on obligations under finance leases and hire purchase contracts |
|
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Other interest payable and similar charges |
|
|
|
--------- |
--------- |
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--------- |
--------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
UK current tax expense |
|
|
|
Adjustments in respect of prior periods |
(
|
(
|
|
--------- |
--------- |
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|
Total current tax |
|
|
|
--------- |
--------- |
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Origination and reversal of timing differences |
|
|
|
--------- |
--------- |
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Tax on profit |
|
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|
--------- |
--------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Profit on ordinary activities before taxation |
|
|
|
--------- |
--------- |
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Profit on ordinary activities by rate of tax |
|
|
|
Adjustment to tax charge in respect of prior periods |
(
|
(
|
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Effect of expenses not deductible for tax purposes |
|
|
|
Effect of capital allowances and depreciation |
(
|
(
|
|
Unused tax losses |
|
|
|
Rounding on tax charge |
– |
6 |
|
Other tax adjustment to increase/(decrease) tax liability |
|
|
|
--------- |
--------- |
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|
Tax on profit |
|
|
|
--------- |
--------- |
|
|
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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Group |
Goodwill |
|
£ |
|
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
|
|
------------ |
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|
Amortisation |
|
|
At 1 January 2024 |
|
|
Charge for the year |
|
|
------------ |
|
|
At 31 December 2024 |
|
|
------------ |
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|
Carrying amount |
|
|
At 31 December 2024 |
|
|
------------ |
|
|
At 31 December 2023 |
|
|
------------ |
|
|
Group |
Plant and Machinery |
Fixtures and Fittings |
Commercial Vehicles |
Motor Vehicles |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|||||
|
At 1 January 2024 |
|
|
|
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Additions |
|
|
|
|
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|
Disposals |
(
|
– |
– |
– |
(
|
|
------------ |
--------- |
--------- |
--------- |
------------ |
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|
At 31 December 2024 |
|
|
|
|
|
|
------------ |
--------- |
--------- |
--------- |
------------ |
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|
Depreciation |
|||||
|
At 1 January 2024 |
|
|
(
|
|
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|
Charge for the year |
|
|
|
|
|
|
Disposals |
(
|
– |
– |
– |
(
|
|
------------ |
--------- |
--------- |
--------- |
------------ |
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|
At 31 December 2024 |
|
|
|
|
|
|
------------ |
--------- |
--------- |
--------- |
------------ |
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|
Carrying amount |
|||||
|
At 31 December 2024 |
|
|
|
|
|
|
------------ |
--------- |
--------- |
--------- |
------------ |
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|
At 31 December 2023 |
|
|
|
|
|
|
------------ |
--------- |
--------- |
--------- |
------------ |
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|
Group |
Plant and Machinery |
Fixtures and Fittings |
Commercial Vehicles |
Motor Vehicles |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
|
At 31 December 2024 |
|
|
|
|
|
|
--------- |
-------- |
--------- |
--------- |
------------ |
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At 31 December 2023 |
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|
--------- |
-------- |
--------- |
--------- |
------------ |
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Company |
Shares in group companies |
|
£ |
|
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
|
|
------------ |
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|
Impairment |
|
|
At 1 January 2024 and 31 December 2024 |
– |
|
------------ |
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|
Carrying amount |
|
|
At 1 January 2024 and 31 December 2024 |
|
|
------------ |
|
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At 31 December 2023 |
|
|
------------ |
|
|
Class of share |
Percentage of shares held |
|
|
Subsidiary undertakings |
||
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Raw materials and consumables |
|
|
– |
– |
|
Work in progress |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
|
|
– |
– |
|
|
--------- |
--------- |
---- |
---- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Trade debtors |
|
|
– |
– |
|
Prepayments and accrued income |
|
|
– |
– |
|
Other debtors |
|
|
|
|
|
------------ |
------------ |
------- |
------- |
|
|
|
|
|
|
|
|
------------ |
------------ |
------- |
------- |
|
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Cash at bank and in hand |
|
|
|
Bank overdrafts |
(
|
(
|
|
--------- |
------------ |
|
|
|
|
|
|
--------- |
------------ |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
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 |
|
|
– |
– |
|
Director loan accounts |
|
|
|
|
|
Other creditors |
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Bank loans and overdrafts |
|
– |
– |
– |
|
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
|
Director loan accounts |
– |
|
– |
|
|
Other creditors |
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
------------ |
--------- |
---- |
---- |
|
|
|
|
– |
– |
|
|
Less: future finance charges |
(
|
(
|
– |
– |
|
------------ |
--------- |
---- |
---- |
|
|
Present value of minimum lease payments |
|
|
– |
– |
|
------------ |
--------- |
---- |
---- |
|
|
Group |
Deferred tax (note 23) |
|
£ |
|
|
At 1 January 2024 |
|
|
Additions |
|
|
--------- |
|
|
At 31 December 2024 |
|
|
--------- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Included in provisions (note 22) |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Accelerated capital allowances |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
2,500 |
|
2,500 |
|
|
|
7,500 |
|
7,500 |
|
-------- |
-------- |
-------- |
-------- |
|
|
|
10,000 |
|
10,000 |
|
|
-------- |
-------- |
-------- |
-------- |
|
|
At 1 Jan 2024 |
Cash flows |
At 31 Dec 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
(1,154,075) |
|
|
Bank overdrafts |
(935) |
(364,805) |
(365,740) |
|
Debt due within one year |
(325,965) |
(369,405) |
(695,370) |
|
Debt due after one year |
(3,156,313) |
1,752,044 |
(1,404,269) |
|
------------ |
------------ |
------------ |
|
|
(
|
(
|
(
|
|
|
------------ |
------------ |
------------ |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
Later than 5 years |
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
|
|
– |
– |
|
|
------------ |
------------ |
---- |
---- |
|