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For the year ended
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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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Profit and loss account
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10
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Balance sheet
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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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Registered office
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Auditor
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Chartered Certified Accountants & statutory auditor
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5 Minton Place
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Victoria Road
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Bicester
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Oxon
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OX26 6QB
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Strategic Report
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Director
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Registered office:
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Directors' Report
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(Appointed
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(Appointed
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(Resigned
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(Resigned
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(Resigned
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Director
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Registered office:
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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 Certified Accountants & statutory auditor
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5 Minton Place
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Victoria Road
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Bicester
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Oxon
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OX26 6QB
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Profit and Loss Account
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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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Cost of sales
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------------
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------------
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Gross profit
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Administrative expenses
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Other operating income
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5
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------------
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------------
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Operating loss
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6
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(
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(
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Interest receivable
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10
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–
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Interest payable
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11
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------------
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------------
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Loss before taxation
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(
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(
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Taxation on ordinary activities
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12
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(
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(
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---------
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---------
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Loss for the financial year
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(
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(
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---------
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---------
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Balance Sheet
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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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13
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Stocks
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14
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Debtors
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15
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Cash at bank and in hand
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------------
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------------
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Creditors: amounts falling due within one year
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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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Creditors: amounts falling due after more than one year
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18
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Taxation including deferred tax
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20
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------------
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------------
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Net assets
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------------
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------------
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Called up share capital
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24
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Capital redemption reserve
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25
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Non-distributable reserves
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25
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–
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Profit and loss account
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25
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(
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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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Director
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Statement of Changes in Equity
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Called up share capital
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Capital redemption reserve
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Non-distributable reserves
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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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At 1 January 2017
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–
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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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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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At 31 December 2017
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–
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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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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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Conversion of debt to equity
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–
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–
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–
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User defined investments by and distributions to owners movement 1
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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 investments by and distributions to owners
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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 31 December 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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Note
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£
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£
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Loss for the financial year
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(
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(
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Adjustments for:
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Depreciation of tangible assets
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Interest receivable
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–
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(
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Interest payable
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Loss on disposal of tangible assets
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Taxation on ordinary activities
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(
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(
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Accrued (income)/expenses
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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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(
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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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(
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Interest paid
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(
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(
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Interest received
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–
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------------
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---------
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Net cash (used in)/from operating activities
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(
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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 issue of ordinary shares
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–
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Proceeds from loans from group undertakings
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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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Other financing cash flow adjustment
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–
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------------
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---------
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Net cash from/(used in) financing activities
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(
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------------
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---------
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Net increase/(decrease) in cash and cash equivalents
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(
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Cash and cash equivalents at beginning of year
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20,766
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96,897
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--------
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--------
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Cash and cash equivalents at end of year
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16
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--------
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--------
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Notes to the Financial Statements
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Tenants improvements
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-
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Plant and machinery
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-
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Motor vehicles
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-
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Office Equipment
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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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Sale of goods
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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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United Kingdom
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Europe
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USA
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Other
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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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Other operating income
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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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Depreciation of tangible assets
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|
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Loss on disposal of tangible assets
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|
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Impairment of trade debtors
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640
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564
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Foreign exchange differences
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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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|
Fees payable for the audit of the financial statements
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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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No.
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No.
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Production staff
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Distribution staff
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Administrative staff
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Number of other staff - Sales
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|
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----
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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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£
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|
Wages and salaries
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|
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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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------------
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2018
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2017
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£
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£
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Remuneration
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|
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Company contributions to defined contribution pension plans
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|
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--------
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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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£
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|
Interest on cash and cash equivalents
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–
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|
----
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----
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2018
|
2017
|
|
£
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£
|
|
Interest on banks loans and overdrafts
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|
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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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---------
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2018
|
2017
|
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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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Taxation on ordinary activities
|
(
|
(
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---------
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--------
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2018
|
2017
|
|
£
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£
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|
Loss on ordinary activities before taxation
|
(
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(
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---------
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---------
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Loss 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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(
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Capital allowances for year in excess of depreciation
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|
(
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---------
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---------
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Tax on loss
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(
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(
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---------
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---------
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Tenants Improvements
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Plant and machinery
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Motor vehicles
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Equipment
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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 January 2018
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Additions
|
|
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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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At 31 December 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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Depreciation
|
|||||
At 1 January 2018
|
|
|
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Charge for the year
|
|
|
|
|
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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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At 31 December 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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Carrying amount
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|||||
At 31 December 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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At 31 December 2017
|
|
|
|
|
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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
|
Motor vehicles
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Total
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|
£
|
£
|
£
|
|
At 31 December 2018
|
|
|
|
------------
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---------
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------------
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|
At 31 December 2017
|
|
|
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------------
|
---------
|
------------
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|
2018
|
2017
|
|
£
|
£
|
|
Raw materials
|
|
|
Finished goods
|
|
|
---------
|
---------
|
|
|
|
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---------
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---------
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|
2018
|
2017
|
|
£
|
£
|
|
Trade debtors
|
|
|
Amounts owed by group undertakings
|
|
|
Prepayments and accrued income
|
|
|
Directors loan account
|
–
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|
Other debtors
|
|
|
------------
|
------------
|
|
|
|
|
------------
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------------
|
|
2018
|
2017
|
|
£
|
£
|
|
Cash at bank and in hand
|
|
|
Bank overdrafts
|
(
|
(
|
---------
|
---------
|
|
|
|
|
---------
|
---------
|
|
2018
|
2017
|
|
£
|
£
|
|
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
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|
|
Other creditors
|
|
|
------------
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------------
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|
|
|
|
------------
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------------
|
|
2018
|
2017
|
|
£
|
£
|
|
Amounts owed to group undertakings
|
|
–
|
Obligations under finance leases and hire purchase contracts
|
|
|
------------
|
------------
|
|
|
|
|
------------
|
------------
|
|
2018
|
2017
|
|
£
|
£
|
|
Not later than 1 year
|
|
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Later than 1 year and not later than 5 years
|
|
|
------------
|
------------
|
|
|
|
|
------------
|
------------
|
|
Deferred tax (note 21)
|
|
£
|
|
At 1 January 2018
|
|
Additions
|
(
|
Charge against provision
|
(
|
---------
|
|
At 31 December 2018
|
|
---------
|
|
2018
|
2017
|
|
£
|
£
|
|
Included in provisions (note 20)
|
|
|
--------
|
---------
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|
2018
|
2017
|
|
£
|
£
|
|
Accelerated capital allowances
|
|
|
Unused tax losses
|
(
|
(
|
---------
|
---------
|
|
40,393
|
156,706
|
|
---------
|
---------
|
|
2018
|
2017
|
|
£
|
£
|
|
Trade debtors
|
1,507,141
|
1,604,738
|
Amounts due from group undertakings
|
138,739
|
131,496
|
Other debtors
|
229,045
|
6,731
|
------------
|
------------
|
|
|
|
|
------------
|
------------
|
|
Bank loans and overdrafts
|
98,205
|
514,692
|
Trade creditors
|
1,438,803
|
1,390,716
|
Amounts due to group undertakings
|
1,282,219
|
1,500,000
|
------------
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------------
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|
|
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------------
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------------
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|
2018
|
2017
|
|||
No.
|
£
|
No.
|
£
|
|
|
|
2,560,000.00
|
|
1,000,000.00
|
------------
|
---------------
|
------------
|
---------------
|
|
No.
|
£
|
|
At 1 January 2018
|
|
1,000,000
|
Issue of shares
|
–
|
1,560,000
|
------------
|
------------
|
|
At 31 December 2018
|
1,000,000
|
2,560,000
|
------------
|
------------
|
|
2018
|
2017
|
|
£
|
£
|
|
Tangible assets
|
|
–
|
---------
|
----
|
|
2018
|
2017
|
|
£
|
£
|
|
Not later than 1 year
|
|
|
Later than 1 year and not later than 5 years
|
|
|
---------
|
---------
|
|
|
|
|
---------
|
---------
|
|