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FOR THE YEAR ENDED |
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CONSOLIDATED FINANCIAL STATEMENTS |
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CONTENTS |
PAGES |
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Officers and professional advisers |
1 |
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Strategic report |
2 to 3 |
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Directors' report |
4 to 5 |
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Independent auditor's report to the members |
6 to 9 |
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Consolidated statement of comprehensive income |
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 changes in equity |
13 |
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Company statement of changes in equity |
14 |
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Consolidated statement of cash flows |
15 |
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Notes to the consolidated financial statements |
16 to 25 |
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OFFICERS AND PROFESSIONAL ADVISERS |
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THE BOARD OF DIRECTORS |
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COMPANY SECRETARY |
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REGISTERED OFFICE |
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England |
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AUDITOR |
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Chartered accountants & statutory auditor |
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20-22 Bridge End |
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Leeds |
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LS1 4DJ |
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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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20-22 Bridge End |
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Leeds |
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LS1 4DJ |
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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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------------- |
------------- |
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GROSS PROFIT |
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Distribution costs |
(
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(
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Administrative expenses |
(
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(
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Other operating income |
5 |
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------------ |
------------ |
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OPERATING PROFIT/(LOSS) |
6 |
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(
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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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------------ |
------------ |
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PROFIT/(LOSS) BEFORE TAXATION |
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(
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Tax on profit/(loss) |
12 |
– |
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--------- |
------------ |
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PROFIT/(LOSS) FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME |
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(
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--------- |
------------ |
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The owners of the parent company |
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(
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Non-controlling interests |
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(
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--------- |
------------ |
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(
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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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------------- |
------------- |
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CREDITORS: amounts falling due within one year |
17 |
(
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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 |
18 |
(
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(
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PROVISIONS |
20 |
(
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(
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------------- |
------------- |
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NET LIABILITIES |
(
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(
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------------- |
------------- |
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Called up share capital |
23 |
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Profit and loss account |
(
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(
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------------ |
------------ |
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EQUITY ATTRIBUTABLE TO THE OWNERS OF THE PARENT COMPANY |
(
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(
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NON-CONTROLLING INTERESTS |
(
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(
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------------ |
------------ |
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(
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(
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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 |
14 |
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Debtors |
16 |
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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 |
17 |
(
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(
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------------- |
------------- |
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NET CURRENT LIABILITIES |
(
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(
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------------ |
------------ |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
(
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(
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------------ |
------------ |
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NET LIABILITIES |
(
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(
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------------ |
------------ |
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Called up share capital |
23 |
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Profit and loss account |
(
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(
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------------ |
------------ |
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SHAREHOLDERS DEFICIT |
(
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(
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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 |
Equity attributable to the owners of the parent company |
Non-controlling interests |
Total |
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£ |
£ |
£ |
£ |
£ |
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AT 31 DECEMBER 2022 |
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Loss for the year |
(
|
(
|
(
|
(
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---- |
------------ |
------------ |
--------- |
------------ |
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TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
– |
(
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(
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(
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(
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AT 30 DECEMBER 2023 |
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(
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(
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(
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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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|
|
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---- |
------------ |
------------ |
--------- |
------------ |
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AT 30 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 |
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|
£ |
£ |
£ |
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AT 31 DECEMBER 2022 |
|
(
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(
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Loss for the year |
(
|
(
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---- |
------------ |
------------ |
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TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
– |
(
|
(
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AT 30 DECEMBER 2023 |
|
(
|
(
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Loss for the year |
(
|
(
|
|
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---- |
------------ |
------------ |
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TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
– |
(
|
(
|
|
---- |
------------ |
------------ |
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AT 30 DECEMBER 2024 |
|
(
|
(
|
|
---- |
------------ |
------------ |
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CONSOLIDATED STATEMENT OF CASH FLOWS |
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Profit/(loss) for the financial year |
|
(
|
|
Adjustments for: |
||
|
Depreciation of tangible assets |
|
|
|
Fair value adjustment of investment property |
(
|
|
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Other interest receivable and similar income |
(
|
(
|
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Interest payable and similar expenses |
|
|
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Loss on disposal of tangible assets |
|
– |
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Tax on loss |
– |
(
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Accrued expenses |
|
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Changes in: |
||
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Stocks |
(
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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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Interest paid |
(
|
(
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Interest received |
|
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Tax paid |
– |
(
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|
------------ |
------------ |
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Net cash from operating activities |
|
|
|
------------ |
------------ |
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Purchase of tangible assets |
(
|
(
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Proceeds from sale of tangible assets |
|
– |
|
------------ |
------------ |
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Net cash from/(used in) investing activities |
|
(
|
|
------------ |
------------ |
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Proceeds from borrowings |
(
|
(
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Payments of finance lease liabilities |
(
|
(
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|
------------ |
------------ |
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Net cash used in financing activities |
(
|
(
|
|
------------ |
------------ |
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NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
|
(
|
|
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |
94,699 |
669,835 |
|
------------ |
--------- |
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CASH AND CASH EQUIVALENTS AT END OF YEAR |
|
|
|
------------ |
--------- |
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
|
Plant and machinery |
- |
Variable, depending on type of asset
|
|
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Fixtures and fittings |
- |
Variable, depending on type of asset
|
|
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Motor vehicles |
- |
|
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Computer Equipment |
- |
Variable, depending on type of asset
|
|
|
2024 |
2023 |
||
|
£ |
£ |
||
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Rendering of services |
|
|
|
|
Property sales |
|
|
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Rental income |
1,028,056
|
554,251
|
|
|
------------- |
------------- |
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|
|
||
|
------------- |
------------- |
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|
2024 |
2023 |
||
|
£ |
£ |
||
|
Management charges receivable |
|
|
|
|
Other operating income |
|
|
|
|
-------- |
-------- |
||
|
|
|
||
|
-------- |
-------- |
||
|
2024 |
2023 |
||
|
£ |
£ |
||
|
Depreciation of tangible assets |
|
|
|
|
Loss on disposal of tangible assets |
|
– |
|
|
Fair value adjustments to investment property |
(
|
|
|
|
Impairment of trade debtors |
32,642 |
46,923 |
|
|
Foreign exchange differences |
– |
|
|
|
--------- |
------------ |
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|
2024 |
2023 |
||
|
£ |
£ |
||
|
Fees payable for the audit of the consolidated financial statements |
|
|
|
|
-------- |
-------- |
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|
2024 |
2023 |
||
|
No. |
No. |
||
|
Production staff |
|
|
|
|
Administrative staff |
|
|
|
|
Management staff |
2 |
2 |
|
|
---- |
---- |
||
|
|
|
||
|
---- |
---- |
||
|
2024 |
2023 |
||
|
£ |
£ |
||
|
Wages and salaries |
|
|
|
|
Social security costs |
|
|
|
|
Other pension costs |
|
|
|
|
------------ |
------------ |
||
|
|
|
||
|
------------ |
------------ |
||
|
2024 |
2023 |
||
|
£ |
£ |
||
|
Remuneration |
|
|
|
|
Company contributions to defined contribution pension plans |
|
|
|
|
--------- |
--------- |
||
|
|
|
||
|
--------- |
--------- |
||
|
2024 |
2023 |
||
|
£ |
£ |
||
|
Interest on cash and cash equivalents |
|
|
|
|
Other interest receivable and similar income |
|
|
|
|
------- |
------- |
||
|
|
|
||
|
------- |
------- |
||
|
2024 |
2023 |
||
|
£ |
£ |
||
|
Interest on banks loans and overdrafts |
|
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
|
Other loan interest payable |
|
|
|
|
Other interest payable and similar charges |
– |
|
|
|
--------- |
------------ |
||
|
|
|
||
|
--------- |
------------ |
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|
2024 |
2023 |
||
|
£ |
£ |
||
|
Adjustments in respect of prior periods |
– |
|
|
|
Origination and reversal of timing differences |
– |
(
|
|
|
---- |
--------- |
||
|
Tax on loss |
– |
(
|
|
|
---- |
--------- |
||
|
2024 |
2023 |
||
|
£ |
£ |
||
|
Profit/(loss) on ordinary activities before taxation |
|
(
|
|
|
--------- |
------------ |
||
|
Profit/(loss) on ordinary activities by rate of tax |
|
(
|
|
|
Adjustment to tax charge in respect of prior periods |
– |
|
|
|
Effect of expenses not deductible for tax purposes |
|
|
|
|
Effect of capital allowances and depreciation |
|
(
|
|
|
Unused tax losses |
(
|
|
|
|
Effect of fair value adjustments |
(
|
|
|
|
--------- |
------------ |
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Tax on loss |
– |
(
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|
|
--------- |
------------ |
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Group |
Investment property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Computer Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
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Cost |
||||||
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At 31 Dec 2023 |
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|
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Additions |
– |
|
|
– |
|
|
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Disposals |
(
|
(
|
(
|
– |
– |
(
|
|
Revaluations |
|
– |
– |
– |
– |
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|
------------ |
------------ |
--------- |
-------- |
-------- |
------------- |
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At 30 Dec 2024 |
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|
------------ |
------------ |
--------- |
-------- |
-------- |
------------- |
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Depreciation |
||||||
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At 31 Dec 2023 |
– |
|
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Charge for the year |
– |
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|
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Disposals |
– |
(
|
(
|
– |
– |
(
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|
------------ |
------------ |
--------- |
-------- |
-------- |
------------- |
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At 30 Dec 2024 |
– |
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|
------------ |
------------ |
--------- |
-------- |
-------- |
------------- |
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Carrying amount |
||||||
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At 30 Dec 2024 |
|
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|
------------ |
------------ |
--------- |
-------- |
-------- |
------------- |
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At 30 Dec 2023 |
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|
------------ |
------------ |
--------- |
-------- |
-------- |
------------- |
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Company |
Unlisted |
|
£ |
|
|
Cost |
|
|
At 31 December 2023 and 30 December 2024 |
|
|
---- |
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Impairment |
|
|
At 31 December 2023 and 30 December 2024 |
– |
|
---- |
|
|
Carrying amount |
|
|
At 31 December 2023 and 30 December 2024 |
|
|
---- |
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At 30 December 2023 |
|
|
---- |
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|
Class of share |
Percentage of shares held |
|
|
Subsidiary undertakings |
||
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Members interest |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Members interest |
100 |
|
|
Ordinary |
100 |
|
|
Members interest |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
Ordinary |
50 |
|
|
Ordinary |
100 |
|
|
Ordinary |
100 |
|
|
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 |
|
|
|
|
|
Amounts owed by group undertakings |
– |
– |
|
|
|
Prepayments and accrued income |
|
|
|
– |
|
Corporation tax repayable |
|
|
– |
– |
|
Amounts due from related companies |
|
|
|
|
|
Other debtors |
|
|
|
|
|
------------ |
------------ |
------------- |
------------- |
|
|
|
|
|
|
|
|
------------ |
------------ |
------------- |
------------- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
– |
|
|
Trade creditors |
|
|
|
|
|
Amounts owed to group undertakings |
– |
– |
|
|
|
Accruals and deferred income |
|
|
|
|
|
Social security and other taxes |
|
|
– |
– |
|
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
|
Amounts due to related companies |
|
|
|
|
|
Other creditors |
|
|
|
|
|
------------- |
------------- |
------------- |
------------- |
|
|
|
|
|
|
|
|
------------- |
------------- |
------------- |
------------- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
– |
– |
|
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
|
------------- |
------------- |
---- |
---- |
|
|
|
|
– |
– |
|
|
------------- |
------------- |
---- |
---- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
|
|
– |
– |
|
|
--------- |
--------- |
---- |
---- |
|
|
Group |
Deferred tax (note 21) |
|
£ |
|
|
At 31 December 2023 and 30 December 2024 |
|
|
-------- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Included in provisions (note 20) |
|
|
– |
– |
|
-------- |
-------- |
---- |
---- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Accelerated capital allowances |
|
|
– |
– |
|
Fair value adjustment of financial assets |
|
|
– |
– |
|
-------- |
-------- |
---- |
---- |
|
|
90,171 |
90,171 |
– |
– |
|
|
-------- |
-------- |
---- |
---- |
|
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
200 |
|
200 |
|
---- |
---- |
---- |
---- |
|
|
At 31 Dec 2023 |
Cash flows |
At 30 Dec 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
1,443,987 |
|
|
Debt due within one year |
(789,065) |
(66,000) |
(855,065) |
|
Debt due after one year |
(64,557,179) |
2,717,804 |
(61,839,375) |
|
------------- |
------------ |
------------- |
|
|
(
|
|
(
|
|
|
------------- |
------------ |
------------- |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
|
|
– |
– |
|
|
------------ |
------------ |
---- |
---- |
|