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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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9
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Statement of financial position
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10
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Statement of changes in equity
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11
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Statement of cash flows
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12
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Notes to the financial statements
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13
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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 accountant & 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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2018 | 2017 | ||
£ | £ | ||
Turnover from continuing operations | 28,939,696 | 24,804,295 | |
Operating profit | 2,188,639 | 2,100,930 | |
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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 accountant & 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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2018
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2017
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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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29,335,029
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23,992,114
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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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(Loss)/profit for the financial year and total comprehensive income
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(
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------------
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------------
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Statement of Financial Position
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2018
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2017
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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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-------------
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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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------------
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------------
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Net assets
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------------
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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 2016
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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 2017
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Loss 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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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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------------
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------------
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At 30 April 2018
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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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2018
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2017
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£
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£
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(Loss)/profit for the financial year
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(
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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 expenses/(income)
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(
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Changes in:
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Stocks
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(
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(
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Trade and other debtors
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(
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(
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Trade and other creditors
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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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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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Proceeds from loans from group undertakings
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–
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(
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Proceeds from loans from participating interests
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–
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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 from financing activities
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------------
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---------
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Net increase in cash and cash equivalents
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Cash and cash equivalents at beginning of year
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3,532,809
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2,978,525
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------------
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Cash and cash equivalents at end of year
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------------
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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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2018
|
2017
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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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2018
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2017
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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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-------------
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-------------
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2018
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2017
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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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–
|
19,042
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Operating lease rentals
|
|
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Depreciation of tangible assets
|
233,834
|
353,991
|
Depreciation of tangible assets held under hire purchase
|
105,888
|
–
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---------
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---------
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|
2018
|
2017
|
|
£
|
£
|
|
Fees payable for the audit of the financial statements
|
|
|
--------
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--------
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Other non-audit services
|
|
|
--------
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--------
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2018
|
2017
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No.
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No.
|
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Production staff
|
|
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Administrative staff
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|
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Management staff
|
2
|
2
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Number of sales and techinical staff
|
18
|
18
|
----
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----
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----
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----
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2018
|
2017
|
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£
|
£
|
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Wages and salaries
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|
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Social security costs
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|
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Other pension costs
|
|
|
------------
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------------
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------------
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------------
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2018
|
2017
|
|
£
|
£
|
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Remuneration
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|
|
---------
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---------
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2018
|
2017
|
|
£
|
£
|
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Aggregate remuneration
|
|
|
---------
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---------
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2018
|
2017
|
|
£
|
£
|
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Interest on cash and cash equivalents
|
|
|
-------
|
-------
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2018
|
2017
|
|
£
|
£
|
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Interest on banks loans and overdrafts
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|
|
--------
|
--------
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2018
|
2017
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|
£
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£
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|
UK current tax expense
|
|
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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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Total current tax
|
|
|
------------
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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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2018
|
2017
|
|
£
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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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------------
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Profit on ordinary activities by rate of tax
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|
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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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Rounding on tax charge
|
(
8)
|
(
59)
|
Adjustment in respect of prior periods
|
|
–
|
------------
|
------------
|
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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
|
Motor vehicles
|
Leasehold property
|
Total
|
|
£
|
£
|
£
|
£
|
£
|
£
|
|
Cost
|
||||||
At 1 May 2017
|
|
|
|
|
|
|
Additions
|
–
|
|
|
–
|
–
|
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Disposals
|
–
|
(
|
–
|
(
|
–
|
(
|
---------
|
------------
|
---------
|
---------
|
------------
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------------
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At 30 Apr 2018
|
|
|
|
|
|
|
---------
|
------------
|
---------
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---------
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------------
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------------
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Depreciation
|
||||||
At 1 May 2017
|
|
|
|
|
|
|
Charge for the year
|
|
|
|
|
|
|
Disposals
|
–
|
(
|
–
|
(
|
–
|
(
|
---------
|
------------
|
---------
|
---------
|
------------
|
------------
|
|
At 30 Apr 2018
|
|
|
|
|
|
|
---------
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------------
|
---------
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---------
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------------
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------------
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Carrying amount
|
||||||
At 30 Apr 2018
|
|
|
|
–
|
|
|
---------
|
------------
|
---------
|
---------
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------------
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------------
|
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At 30 Apr 2017
|
|
|
|
|
|
|
---------
|
------------
|
---------
|
---------
|
------------
|
------------
|
|
Plant and machinery
|
|
£
|
|
At 30 April 2018
|
|
---------
|
|
At 30 April 2017
|
–
|
---------
|
|
2018
|
2017
|
|
£
|
£
|
|
Raw materials and consumables
|
|
|
Finished goods and goods for resale
|
|
|
------------
|
------------
|
|
|
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------------
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------------
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2018
|
2017
|
|
£
|
£
|
|
Trade debtors
|
|
|
Prepayments and accrued income
|
|
|
Loan - Apollo Roofing Solutions Limited
|
1,054,599
|
805,573
|
Loan - Apollo Construction Solutions Limited
|
1,650,063
|
1,015,993
|
Other debtors
|
|
|
------------
|
------------
|
|
|
|
|
------------
|
------------
|
|
2018
|
2017
|
|
£
|
£
|
|
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
|
|
|
Taxation adjustment in prior periods
|
3,673,887
|
–
|
Other creditors
|
|
|
-------------
|
------------
|
|
|
|
|
-------------
|
------------
|
|
2018
|
2017
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
|
Obligations under finance leases and hire purchase contracts
|
|
–
|
------------
|
------------
|
|
|
|
|
------------
|
------------
|
|
2018
|
2017
|
|
£
|
£
|
|
Not later than 1 year
|
|
–
|
Later than 1 year and not later than 5 years
|
|
–
|
---------
|
----
|
|
|
–
|
|
---------
|
----
|
|
Deferred tax (note 19)
|
|
£
|
|
At 1 May 2017
|
|
Charge against provision
|
(
|
-------
|
|
At 30 April 2018
|
|
-------
|
|
2018
|
2017
|
|
£
|
£
|
|
Included in provisions (note 18)
|
|
|
----
|
-------
|
|
2018
|
2017
|
|
£
|
£
|
|
Accelerated capital allowances
|
|
|
----
|
-------
|
|
2018
|
2017
|
|
£
|
£
|
|
Trade debtors
|
4,138,925
|
4,028,380
|
Other debtors
|
4,375,810
|
1,959,744
|
Cash at bank and in hand
|
3,564,417
|
3,532,809
|
-------------
|
------------
|
|
|
|
|
-------------
|
------------
|
|
Bank loans and overdrafts
|
1,300,000
|
1,300,000
|
Trade creditors
|
3,922,634
|
2,375,581
|
Other creditors
|
3,203,744
|
3,886,169
|
Finance lease and hire purchase
|
361,864
|
–
|
Provisions
|
369
|
2,476
|
------------
|
------------
|
|
|
|
|
------------
|
------------
|
|
2018
|
2017
|
|||
No.
|
£
|
No.
|
£
|
|
|
|
1,334
|
|
1,334
|
|
|
71
|
|
71
|
-------
|
-------
|
-------
|
-------
|
|
|
|
|
|
|
-------
|
-------
|
-------
|
-------
|
|
2018
|
2017
|
|
£
|
£
|
|
Not later than 1 year
|
|
|
Later than 1 year and not later than 5 years
|
|
|
Later than 5 years
|
|
|
------------
|
------------
|
|
|
|
|
------------
|
------------
|
|
2018
|
|||||
Balance brought forward
|
Advances/ (credits) to the directors
|
Amounts repaid
|
Balance outstanding
|
||
£
|
£
|
£
|
£
|
||
|
(
|
|
(
|
(
|
|
------------
|
---------
|
---------
|
------------
|
||
2017
|
|||||
Balance brought forward
|
Advances/ (credits) to the directors
|
Amounts repaid
|
Balance outstanding
|
||
£
|
£
|
£
|
£
|
||
|
(
|
|
(
|
(
|
|
------------
|
---------
|
---------
|
------------
|
||
Transaction value
|
Balance owed by/(owed to)
|
|||
2018
|
2017
|
2018
|
2017
|
|
£
|
£
|
£
|
£
|
|
|
4,548,919
|
|
–
|
–
|
|
–
|
–
|
|
|
|
4,487,017
|
|
–
|
–
|
|
–
|
–
|
|
|
------------
|
------------
|
------------
|
------------
|
|