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Financial Statements
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Contents
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Page
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Officers and professional advisers
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1
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Strategic report
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2
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Directors' report
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4
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Independent auditor's report to the members
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6
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Statement of comprehensive income
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10
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Statement of financial position
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11
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Statement of changes in equity
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12
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Statement of cash flows
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13
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Notes to the financial statements
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14
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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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Auditor
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Chartered accountants & statutory auditor
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Ashford House
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95 Dixons Green
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Dudley
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West Midlands
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DY2 7DJ
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Bankers
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Bitterscote House
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Bonehill Road
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Tamworth
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B78 3HQ
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Solicitors
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Capstan House
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The Waterfront
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Merry Hill
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West Midlands
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DY5 1XL
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Strategic Report
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2020 | 2019 | ||
£ | £ | ||
Turnover from continuing operations | 29,090,193 | 32,416,600 | |
Operating profit | 2,099,729 | 3,350,562 | |
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Directors' Report
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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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Ashford House
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95 Dixons Green
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Dudley
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West Midlands
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DY2 7DJ
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Statement of Comprehensive Income
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2020
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2019
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Note
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£
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£
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Turnover
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4
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Change in stocks of finished goods and in work in progress
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(
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(
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-------------
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-------------
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29,076,071
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32,414,647
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Raw material and consumables
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Other external charges
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Staff costs
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7
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Depreciation and other amounts written off tangible and intangible fixed assets
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Other operating expenses
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-------------
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-------------
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Operating profit
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5
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Other interest receivable and similar income
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9
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Interest payable and similar expenses
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10
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-------------
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-------------
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Profit before taxation
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Tax on profit
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11
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------------
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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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------------
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Statement of Financial Position
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2020
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2019
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Note
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£
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£
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£
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Tangible assets
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12
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Stocks
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13
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Debtors
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14
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Cash at bank and in hand
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Creditors: amounts falling due within one year
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15
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Net current assets
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-------------
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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
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16
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Taxation including deferred tax
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18
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Net assets
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Called up share capital
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22
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Share premium account
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23
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Revaluation reserve
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23
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Capital redemption reserve
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23
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Profit and loss account
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23
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------------
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------------
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Shareholders funds
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------------
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------------
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Statement of Changes in Equity
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Called up share capital
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Share premium account
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Revaluation reserve
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Capital redemption reserve
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Profit and loss account
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Total
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£
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£
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£
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£
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£
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£
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At 1 May 2018
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Profit for the year
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||||
-------
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----
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---------
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----
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------------
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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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–
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At 30 April 2019
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Profit for the year
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-------
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----
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---------
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----
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------------
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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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–
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-------
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----
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---------
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----
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------------
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------------
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At 30 April 2020
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-------
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----
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---------
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----
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------------
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------------
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Statement of Cash Flows
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2020
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2019
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£
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£
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Profit for the financial year
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Adjustments for:
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Depreciation of tangible assets
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Other interest receivable and similar income
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(
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(
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Interest payable and similar expenses
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Gains on disposal of tangible assets
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(
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–
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Tax on profit
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Accrued income
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(
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(
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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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Trade and other creditors
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(
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(
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------------
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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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(
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Interest received
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Tax paid
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(
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(
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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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---------
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Purchase of tangible assets
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(
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(
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Proceeds from sale of tangible assets
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–
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------------
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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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------------
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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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(
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------------
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------------
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Net cash (used in)/from financing activities
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(
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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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(
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Cash and cash equivalents at beginning of year
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3,521,657
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3,564,417
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Cash and cash equivalents at end of year
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Notes to the Financial Statements
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Freehold Property
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-
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100 years
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Plant & Equipment
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-
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4 years
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Office equipment
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-
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7 years
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Motor Vehicles
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-
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4 years
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Leasehold Property
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-
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125 years
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2020
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2019
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£
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£
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Sale of goods
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-------------
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-------------
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2020
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2019
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£
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£
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United Kingdom
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Rest of Europe
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Rest of the World
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-------------
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-------------
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2020
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2019
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£
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£
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Gains on disposal of tangible assets
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(
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–
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Impairment of trade debtors
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3,787
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(8,113)
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Operating lease rentals
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|
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Depreciation of tangible assets
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205,653
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169,565
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Depreciation of tangible assets held under hire purchase
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138,174
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138,174
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Exchange differences
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(703)
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5,600
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---------
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---------
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2020
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2019
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£
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£
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Fees payable for the audit of the financial statements
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--------
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--------
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Other non-audit services
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--------
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--------
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2020
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2019
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No.
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No.
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Production staff
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|
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Administrative staff
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Management staff
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2
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2
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Number of sales and techinical staff
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11
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14
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----
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----
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----
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----
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2020
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2019
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£
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£
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Wages and salaries
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Social security costs
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Other pension costs
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------------
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------------
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------------
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------------
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2020
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2019
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£
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£
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Remuneration
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---------
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---------
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2020
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2019
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£
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£
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Aggregate remuneration
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---------
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---------
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2020
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2019
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£
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£
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Interest on cash and cash equivalents
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----
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-------
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2020
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2019
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£
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£
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Interest on banks loans and overdrafts
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Interest on obligations under finance leases and hire purchase contracts
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--------
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--------
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--------
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--------
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2020
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2019
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£
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£
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UK current tax expense
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|
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Adjustments in respect of prior periods
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–
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(
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---------
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---------
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Total current tax
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---------
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---------
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Origination and reversal of timing differences
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---------
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--------
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Tax on profit
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---------
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--------
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2020
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2019
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£
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£
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Profit on ordinary activities before taxation
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------------
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------------
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Profit on ordinary activities by rate of tax
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Effect of expenses not deductible for tax purposes
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|
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Effect of capital allowances and depreciation
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(
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(
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Adjustment in respect of prior periods
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–
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(400,662)
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------------
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------------
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Tax on profit
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------------
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------------
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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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Leasehold property
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Total
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|
£
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£
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£
|
£
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£
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£
|
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Cost
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||||||
At 1 May 2019
|
|
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Additions
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–
|
|
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–
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Disposals
|
–
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–
|
–
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(
|
–
|
(
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---------
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------------
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---------
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---------
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------------
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-------------
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At 30 Apr 2020
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---------
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------------
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---------
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---------
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------------
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-------------
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Depreciation
|
||||||
At 1 May 2019
|
|
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Charge for the year
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|
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–
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Disposals
|
–
|
–
|
–
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(
|
–
|
(
|
---------
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------------
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---------
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---------
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------------
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-------------
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At 30 Apr 2020
|
|
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|
---------
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------------
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---------
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---------
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------------
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-------------
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Carrying amount
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||||||
At 30 Apr 2020
|
|
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|
–
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|
---------
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------------
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---------
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---------
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------------
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-------------
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At 30 Apr 2019
|
|
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|
–
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|
---------
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------------
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---------
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---------
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------------
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-------------
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Plant and machinery
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|
£
|
|
At 30 April 2020
|
|
---------
|
|
At 30 April 2019
|
|
---------
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|
2020
|
2019
|
|
£
|
£
|
|
Raw materials and consumables
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|
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Finished goods and goods for resale
|
|
|
------------
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------------
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|
|
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------------
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------------
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2020
|
2019
|
|
£
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£
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Trade debtors
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|
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Prepayments and accrued income
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|
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Corporation tax repayable
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|
–
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Loan - Apollo Roofing Solutions Limited
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399,990
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431,252
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Loan - Apollo Construction Solutions Limited
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28,273
|
1,100,578
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Other debtors
|
|
|
------------
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------------
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|
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------------
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------------
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|
2020
|
2019
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
|
Trade creditors
|
|
|
Accruals and deferred income
|
|
|
Corporation tax
|
–
|
|
Social security and other taxes
|
|
|
Obligations under finance leases and hire purchase contracts
|
|
|
Director loan accounts
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|
|
Other creditors
|
|
|
------------
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------------
|
|
|
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|
------------
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------------
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|
2020
|
2019
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
|
Obligations under finance leases and hire purchase contracts
|
|
|
------------
|
------------
|
|
|
|
|
------------
|
------------
|
|
2020
|
2019
|
|
£
|
£
|
|
Not later than 1 year
|
|
|
Later than 1 year and not later than 5 years
|
|
|
---------
|
---------
|
|
|
|
|
---------
|
---------
|
|
Deferred tax (note 19)
|
|
£
|
|
At 1 May 2019
|
|
Additions
|
|
--------
|
|
At 30 April 2020
|
|
--------
|
|
2020
|
2019
|
|
£
|
£
|
|
Included in provisions (note 18)
|
|
|
--------
|
--------
|
|
2020
|
2019
|
|
£
|
£
|
|
Accelerated capital allowances
|
|
|
--------
|
--------
|
|
2020
|
2019
|
|
£
|
£
|
|
Trade debtors
|
3,749,686
|
4,928,978
|
Other debtors
|
785,947
|
1,691,312
|
Cash at bank and in hand
|
3,305,838
|
3,521,657
|
------------
|
-------------
|
|
|
|
|
------------
|
-------------
|
|
Bank loans and overdrafts
|
1,330,000
|
2,500,000
|
Trade creditors
|
2,833,546
|
5,931,280
|
Other creditors
|
1,846,283
|
2,674,145
|
Finance lease and hire purchase
|
290,241
|
387,399
|
Provisions
|
67,960
|
19,713
|
------------
|
-------------
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|
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------------
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-------------
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2020
|
2019
|
|||
No.
|
£
|
No.
|
£
|
|
|
|
1,334
|
|
1,334
|
|
|
71
|
|
71
|
-------
|
-------
|
-------
|
-------
|
|
|
|
|
|
|
-------
|
-------
|
-------
|
-------
|
|
At 1 May 2019
|
Cash flows
|
At 30 Apr 2020
|
|
£
|
£
|
£
|
|
Cash at bank and in hand
|
|
(215,819)
|
|
Debt due within one year
|
(1,578,873)
|
478,895
|
(1,099,978)
|
Debt due after one year
|
(2,596,990)
|
1,169,893
|
(1,427,097)
|
------------
|
------------
|
------------
|
|
(
|
|
|
|
------------
|
------------
|
------------
|
|
|
Notes to the Financial Statements (continued)
|
2020
|
2019
|
|
£
|
£
|
|
Not later than 1 year
|
|
|
Later than 1 year and not later than 5 years
|
|
|
Later than 5 years
|
|
|
------------
|
------------
|
|
|
|
|
------------
|
------------
|
|
2020
|
|||||
Balance brought forward
|
Advances/ (credits) to the directors
|
Amounts repaid
|
Balance outstanding
|
||
£
|
£
|
£
|
£
|
||
|
(
|
|
–
|
(
|
|
------------
|
---------
|
----
|
---------
|
||
2019
|
|||||
Balance brought forward
|
Advances/ (credits) to the directors
|
Amounts repaid
|
Balance outstanding
|
||
£
|
£
|
£
|
£
|
||
|
(
|
|
(
|
(
|
|
------------
|
---------
|
---------
|
------------
|
||
Transaction value
|
Balance owed by/(owed to)
|
|||
2020
|
2019
|
2020
|
2019
|
|
£
|
£
|
£
|
£
|
|
Sales and recharges due to related company - Apollo Roofing Solutions Limited
|
7,572,220
|
8,691,845
|
–
|
–
|
Amounts due from related company - Apollo Roofing Solutions Limited
|
–
|
–
|
|
|
Sales and recharges due to related company - Apollo Construction Solutions Limited
|
2,959,301
|
5,230,956
|
–
|
–
|
Amounts due from related company - Apollo Construction Solutions Limited
|
–
|
–
|
|
|
------------
|
------------
|
---------
|
------------
|
|