|
|
|
|
|
For the Year Ended |
|
|
|
|
|
Financial Statements |
|
Contents |
Pages |
|
Officers and Professional Advisers |
1 |
|
Strategic Report |
2 to 6 |
|
Directors' Report |
7 to 9 |
|
Independent Auditor's Report to the Members |
10 to 13 |
|
Consolidated Statement of Comprehensive Income |
14 |
|
Consolidated Statement of Financial Position |
15 |
|
Company Statement of Financial Position |
16 |
|
Consolidated Statement of Changes in Equity |
17 |
|
Company Statement of Changes in Equity |
18 |
|
Consolidated Statement of Cash Flows |
19 |
|
Notes to the Financial Statements |
20 to 34 |
|
|
|
Officers and Professional Advisers |
|
The Board of Directors |
|
|
|
|
|
|
|
|
Registered Office |
|
|
|
|
|
|
|
|
|
|
|
Auditor |
|
|
Chartered accountants & statutory auditor |
|
|
The Beehive |
|
|
Lions Drive |
|
|
Shadsworth Business Park |
|
|
Blackburn |
|
|
BB1 2QS |
|
|
Bankers |
|
|
5th Floor |
|
|
1 Spinningfield Square |
|
|
Manchester |
|
|
M3 3AP |
|
|
Solicitors |
|
|
Rutherford House |
|
|
4 Wellington Street (St. Johns) |
|
|
Blackburn |
|
|
BB1 8DD |
|
|
|
|
Strategic Report |
|
|
|
Director |
|
Registered office: |
|
|
|
|
|
|
|
|
|
|
|
Directors' Report |
|
|
|
|
|
|
|
|
|
| 2025 | % of turnover | 2024 | % of turnover | ||
| £ | £ | £ | £ | ||
| Electricity | 218,764 | 1 | 294,331 | 1 | |
| CO2 | 45,295 | – | 59,788 | – | |
| Gas | 624,767 | 2 | 716,182 | 2 | |
| CO2 | 114,270 | – | 131,432 | – | |
| Diesel (litres) | 372,653 | 1 | 400,213 | 1 | |
| Total energy consumption | 843,531 | 3 | 1,010,513 | 3 | |
| Total CO2 | 159,565 | – | 191,220 | 1 | |
|
|
|
Director |
|
Registered office: |
|
|
|
|
|
|
|
|
|
|
|
Independent Auditor's Report to the Members of
|
|
|
|
(Senior Statutory Auditor) |
|
For and on behalf of |
|
|
|
Chartered accountants & statutory auditor |
|
The Beehive |
|
Lions Drive |
|
Shadsworth Business Park |
|
Blackburn |
|
BB1 2QS |
|
|
|
Consolidated Statement of Comprehensive Income |
|
2025 |
2024 |
||
|
Note |
£ |
£ |
|
|
Turnover |
4 |
|
|
|
Cost of sales |
(
|
(
|
|
------------- |
------------- |
|
|
Gross profit |
|
|
|
Distribution costs |
(
|
(
|
|
|
Administrative expenses |
(
|
(
|
|
|
Other operating income |
5 |
|
|
|
------------ |
------------ |
||
|
Operating loss |
6 |
(
|
(
|
|
Other interest receivable and similar income |
10 |
|
|
|
Interest payable and similar expenses |
11 |
(
|
(
|
|
------------ |
------------ |
||
|
Loss before taxation |
(
|
(
|
|
|
Tax on loss |
12 |
|
|
|
------------ |
--------- |
||
|
Loss for the financial year and total comprehensive income |
(
|
(
|
|
|
------------ |
--------- |
||
|
|
|
Consolidated Statement of Financial Position |
|
2025 |
2024 |
||
|
Note |
£ |
£ |
|
|
Tangible assets |
13 |
|
|
|
|
Investments |
14 |
|
|
|
|
------------- |
------------- |
|||
|
|
|
|||
|
Stocks |
15 |
|
|
|
|
Debtors |
16 |
|
|
|
|
Investment Properties |
17 |
|
– |
|
|
Cash at bank and in hand |
|
|
||
|
------------- |
------------- |
|||
|
|
|
|||
|
Creditors: amounts falling due within one year |
18 |
(
|
(
|
|
|
------------- |
------------- |
|||
|
Net current assets |
|
|
||
|
------------- |
------------- |
|||
|
Total assets less current liabilities |
|
|
||
|
Creditors: amounts falling due after more than one year |
19 |
(
|
(
|
|
|
Provisions |
21 |
(
|
(
|
|
|
------------- |
------------- |
|||
|
Net assets |
|
|
||
|
------------- |
------------- |
|||
|
Called up share capital |
24 |
|
|
|
|
Revaluation reserve |
25 |
|
|
|
|
Other reserves, including the fair value reserve |
25 |
|
|
|
|
Profit and loss account |
25 |
|
|
|
|
------------- |
------------- |
|||
|
Shareholders funds |
|
|
||
|
------------- |
------------- |
|||
|
|
|
Director |
|
|
|
Company Statement of Financial Position |
|
2025 |
2024 |
||
|
Note |
£ |
£ |
|
|
Investments |
14 |
|
|
|
|
Debtors |
16 |
|
|
|
|
-------- |
-------- |
|||
|
Net current assets |
|
|
||
|
--------- |
--------- |
|||
|
Total assets less current liabilities |
|
|
||
|
Creditors: amounts falling due after more than one year |
19 |
(
|
(
|
|
|
--------- |
--------- |
|||
|
Net assets |
|
|
||
|
--------- |
--------- |
|||
|
Called up share capital |
24 |
|
|
|
|
--------- |
--------- |
|||
|
Shareholders funds |
|
|
||
|
--------- |
--------- |
|||
|
|
|
Director |
|
|
|
Consolidated Statement of Changes in Equity |
|
Called up share capital |
Revaluation reserve |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
|
|
£ |
£ |
£ |
£ |
£ |
|
|
At 1 March 2023 |
|
|
|
|
|
|
Loss for the year |
(
|
(
|
|||
|
--------- |
------------ |
-------- |
------------- |
------------- |
|
|
Total comprehensive income for the year |
– |
– |
– |
(
|
(
|
|
EOT contribution |
– |
– |
– |
(
|
(
|
|
--------- |
------------ |
-------- |
------------- |
------------- |
|
|
Total investments by and distributions to owners |
– |
– |
– |
(
|
(
|
|
At 29 February 2024 |
|
|
|
|
|
|
Loss for the year |
(
|
(
|
|||
|
--------- |
------------ |
-------- |
------------- |
------------- |
|
|
Total comprehensive income for the year |
– |
– |
– |
(
|
(
|
|
--------- |
------------ |
-------- |
------------- |
------------- |
|
|
At 28 February 2025 |
|
|
|
|
|
|
--------- |
------------ |
-------- |
------------- |
------------- |
|
|
|
|
Company Statement of Changes in Equity |
|
Called up share capital |
Profit and loss account |
Total |
|
|
£ |
£ |
£ |
|
|
At 1 March 2023 |
|
– |
|
|
Profit for the year |
– |
– |
|
|
At 29 February 2024 |
|
– |
|
|
Profit for the year |
– |
– |
|
|
--------- |
---- |
--------- |
|
|
At 28 February 2025 |
|
– |
|
|
--------- |
---- |
--------- |
|
|
|
|
Consolidated Statement of Cash Flows |
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Loss for the financial year |
(
|
(
|
|
Adjustments for: |
||
|
Depreciation of tangible assets |
|
|
|
Fair value adjustment of investment property |
– |
(
|
|
Other interest receivable and similar income |
(
|
(
|
|
Interest payable and similar expenses |
|
|
|
Loss/(gains) on disposal of tangible assets |
|
(
|
|
Tax on profit |
(
|
(
|
|
Accrued (income)/expenses |
(
|
|
|
Changes in: |
||
|
Stocks |
|
|
|
Trade and other debtors |
|
(
|
|
Trade and other creditors |
(
|
(
|
|
------------ |
------------ |
|
|
Cash generated from operations |
|
|
|
Interest paid |
(
|
(
|
|
Interest received |
|
|
|
Tax paid |
– |
(
|
|
------------ |
------------ |
|
|
Net cash from operating activities |
|
|
|
------------ |
------------ |
|
|
Purchase of tangible assets |
(
|
(
|
|
Proceeds from sale of tangible assets |
|
|
|
------------ |
------------ |
|
|
Net cash from/(used in) investing activities |
|
(
|
|
------------ |
------------ |
|
|
Repayments of borrowings |
(
|
(
|
|
Payments of finance lease liabilities |
(
|
(
|
|
EOT contribution |
– |
(
|
|
------------ |
------------ |
|
|
Net cash used in financing activities |
(
|
(
|
|
------------ |
------------ |
|
|
Net decrease in cash and cash equivalents |
(
|
(
|
|
Cash and cash equivalents at beginning of year |
972,278 |
2,395,529 |
|
--------- |
------------ |
|
|
Cash and cash equivalents at end of year |
|
|
|
--------- |
------------ |
|
|
|
|
Notes to the Financial Statements |
|
Freehold property |
- |
|
|
|
Long leasehold property |
- |
Over remaining lease term
|
|
|
Plant and machinery |
- |
10% - 33% reducing balance
|
|
|
Motor vehicles |
- |
|
|
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Sale of goods |
|
|
|
------------- |
------------- |
|
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Rental income |
|
|
|
Other operating income |
– |
|
|
-------- |
--------- |
|
|
|
|
|
|
-------- |
--------- |
|
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Depreciation of tangible assets |
|
|
|
Loss/(gains) on disposal of tangible assets |
|
(
|
|
Fair value adjustments to investment property |
– |
(
|
|
Impairment of trade debtors |
77,238 |
117,451 |
|
Foreign exchange differences |
(
|
– |
|
Operating lease rent |
|
|
|
------------ |
------------ |
|
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Fees payable for the audit of the financial statements |
|
|
|
-------- |
-------- |
|
|
Taxation advisory services |
|
|
|
-------- |
-------- |
|
|
2025 |
2024 |
|
|
No. |
No. |
|
|
Production staff |
|
|
|
Distribution staff |
|
|
|
Administrative staff |
|
|
|
---- |
---- |
|
|
|
|
|
|
---- |
---- |
|
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
------------- |
------------- |
|
|
|
|
|
|
------------- |
------------- |
|
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Remuneration |
|
|
|
--------- |
--------- |
|
|
2025 |
2024 |
|
|
No. |
No. |
|
|
Defined contribution plans |
|
– |
|
---- |
---- |
|
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Aggregate remuneration |
|
|
|
--------- |
--------- |
|
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Interest on cash and cash equivalents |
|
|
|
-------- |
-------- |
|
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Interest on banks loans and overdrafts |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Dividends paid on shares classed as debt |
|
|
|
Other interest payable and similar charges |
|
|
|
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
|
|
2025 |
2024 |
|
|
£ |
£ |
|
|
UK current tax income |
– |
(
|
|
Adjustments in respect of prior periods |
– |
(
|
|
---- |
--------- |
|
|
Total current tax |
– |
(
|
|
---- |
--------- |
|
|
Origination and reversal of timing differences |
(
|
|
|
--------- |
--------- |
|
|
Tax on profit |
(
|
(
|
|
--------- |
--------- |
|
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Loss on ordinary activities before taxation |
(
|
(
|
|
------------ |
--------- |
|
|
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 |
(
|
|
|
Effect of revenue exempt from tax |
– |
(
|
|
Effect of different UK tax rates on some earnings |
– |
59,171 |
|
Unused tax losses |
|
– |
|
------------ |
--------- |
|
|
Tax on profit |
(
|
(
|
|
------------ |
--------- |
|
|
Group |
Freehold property |
Long leasehold property |
Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|||||
|
At 1 March 2024 |
|
|
|
|
|
|
Additions |
– |
|
|
|
|
|
Disposals |
– |
– |
(
|
(
|
(
|
|
------------- |
--------- |
------------- |
------------ |
------------- |
|
|
At 28 February 2025 |
|
|
|
|
|
|
------------- |
--------- |
------------- |
------------ |
------------- |
|
|
Depreciation |
|||||
|
At 1 March 2024 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Disposals |
– |
– |
(
|
(
|
(
|
|
------------- |
--------- |
------------- |
------------ |
------------- |
|
|
At 28 February 2025 |
|
|
|
|
|
|
------------- |
--------- |
------------- |
------------ |
------------- |
|
|
Carrying amount |
|||||
|
At 28 February 2025 |
|
|
|
|
|
|
------------- |
--------- |
------------- |
------------ |
------------- |
|
|
At 29 February 2024 |
|
|
|
|
|
|
------------- |
--------- |
------------- |
------------ |
------------- |
|
|
Group |
Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
|
|
At 28 February 2025 |
|
|
|
|
------------ |
------------ |
------------ |
|
|
At 29 February 2024 |
|
|
|
|
------------ |
------------ |
------------ |
|
|
Group |
Investments properties |
|
£ |
|
|
Cost |
|
|
At 1 March 2024 |
|
|
Transfers |
(529,545)
|
|
--------- |
|
|
At 28 February 2025 |
|
|
--------- |
|
|
Impairment |
|
|
At 1 March 2024 and 28 February 2025 |
– |
|
--------- |
|
|
Carrying amount |
|
|
At 28 February 2025 |
|
|
--------- |
|
|
At 29 February 2024 |
|
|
--------- |
|
|
Company |
Shares in group undertakings |
|
£ |
|
|
Cost |
|
|
At 1 March 2024 and 28 February 2025 |
|
|
--------- |
|
|
Impairment |
|
|
At 1 March 2024 and 28 February 2025 |
– |
|
--------- |
|
|
Carrying amount |
|
|
At 1 March 2024 and 28 February 2025 |
|
|
--------- |
|
|
At 29 February 2024 |
|
|
--------- |
|
|
Registered office |
Class of share |
Percentage of shares held |
|
|
Subsidiary undertakings |
|||
|
|
England and Wales |
Ordinary |
100 |
|
Preference |
100 |
||
|
|
England and Wales |
Ordinary |
100 |
|
Preference |
100 |
||
|
|
England and Wales |
Ordinary |
100 |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Work in progress |
|
|
– |
– |
|
Finished goods and goods for resale |
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
|
|
– |
– |
|
|
------------ |
------------ |
---- |
---- |
|
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Trade debtors |
|
|
– |
– |
|
Amounts owed by group undertakings |
– |
– |
|
|
|
Prepayments and accrued income |
|
|
– |
– |
|
Corporation tax repayable |
|
|
– |
– |
|
Other debtors |
|
|
– |
– |
|
------------ |
------------ |
-------- |
-------- |
|
|
|
|
|
|
|
|
------------ |
------------ |
-------- |
-------- |
|
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Investment property held for sale |
529,545 |
– |
– |
– |
|
--------- |
---- |
---- |
---- |
|
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
– |
– |
|
Trade creditors |
|
|
– |
– |
|
Accruals and deferred income |
|
|
– |
– |
|
Social security and other taxes |
|
|
– |
– |
|
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
|
Other creditors |
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
|
|
– |
– |
|
|
------------ |
------------ |
---- |
---- |
|
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
– |
– |
|
Shares classed as financial liabilities |
|
|
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
|
Director loan accounts |
|
|
– |
– |
|
Other loans |
|
– |
– |
– |
|
------------ |
------------ |
--------- |
--------- |
|
|
|
|
|
|
|
|
------------ |
------------ |
--------- |
--------- |
|
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
|
|
– |
– |
|
|
------------ |
------------ |
---- |
---- |
|
|
Group |
Deferred tax (note 22) |
|
£ |
|
|
At 1 March 2024 |
|
|
Charge against provision |
(
|
|
------------ |
|
|
At 28 February 2025 |
|
|
------------ |
|
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Included in provisions (note 21) |
|
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Accelerated capital allowances |
|
|
– |
– |
|
Unused tax losses |
(
|
– |
– |
– |
|
Other timing differences |
(
|
(
|
– |
– |
|
------------ |
------------ |
---- |
---- |
|
|
1,217,603 |
1,423,041 |
– |
– |
|
|
------------ |
------------ |
---- |
---- |
|
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
Ordinary shares of £1 each |
278,579 |
278,579 |
278,579 |
278,579 |
|
Ordinary shares of £5 each |
2,500 |
12,500 |
2,500 |
12,500 |
|
--------- |
--------- |
--------- |
--------- |
|
|
|
291,079 |
|
291,079 |
|
|
--------- |
--------- |
--------- |
--------- |
|
|
|
|
519,600 |
|
519,600 |
|
--------- |
--------- |
--------- |
--------- |
|
|
At 1 Mar 2024 |
Cash flows |
At 28 Feb 2025 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
(239,141) |
|
|
Debt due within one year |
(1,353,286) |
187,660 |
(1,165,626) |
|
Debt due after one year |
(6,421,299) |
931,264 |
(5,490,035) |
|
------------ |
--------- |
------------ |
|
|
(
|
|
(
|
|
|
------------ |
--------- |
------------ |
|
|
|
|
Notes to the Financial Statements (continued) |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Tangible assets |
– |
|
– |
– |
|
---- |
--------- |
---- |
---- |
|
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
------------ |
--------- |
---- |
---- |
|
|
|
|
– |
– |
|
|
------------ |
--------- |
---- |
---- |
|