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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Statement of comprehensive income |
9 |
Statement of financial position |
10 |
Statement of changes in equity |
11 |
Statement of cash flows |
12 |
Notes to the financial statements |
13 |
|
Strategic Report |
2023 | 2022 | ||
£ | £ | ||
Turnover | 18,093,848 | 15,583,178 | |
Gross profit | 3,778,001 | 3,482,637 | |
Gross profit margin % | 22 | 22 | |
Net profit margin (before tax) % | 16 | 15 | |
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Director |
Registered office: |
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Directors' Report |
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Director |
Registered office: |
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Independent Auditor's Report to the Members of
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered accountants & statutory auditor |
Camburgh House |
27 New Dover Road |
Canterbury |
Kent |
CT1 3DN |
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Statement of Comprehensive Income |
Period from |
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1 Jul 22 to |
Year to |
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31 May 23 |
30 Jun 22 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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------------- |
------------- |
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Gross profit |
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Administrative expenses |
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------------ |
------------ |
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Operating profit |
5 |
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Other interest receivable and similar income |
9 |
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Interest payable and similar expenses |
10 |
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Profit before taxation |
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Tax on profit |
11 |
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Profit for the financial period and total comprehensive income |
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Statement of Financial Position |
31 May 23 |
30 Jun 22 |
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Note |
£ |
£ |
£ |
Tangible assets |
13 |
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Stocks |
14 |
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Debtors |
15 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
17 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
18 |
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Taxation including deferred tax |
20 |
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Net assets |
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Called up share capital |
23 |
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Profit and loss account |
24 |
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------------ |
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Shareholders funds |
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Director |
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Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 July 2021 |
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Profit for the period |
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---- |
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Total comprehensive income for the period |
– |
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Dividends paid and payable |
12 |
– |
(
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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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At 30 June 2022 |
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Profit for the period |
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---- |
------------ |
------------ |
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Total comprehensive income for the period |
– |
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Dividends paid and payable |
12 |
– |
(
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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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At 31 May 2023 |
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---- |
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Statement of Cash Flows |
31 May 23 |
30 Jun 22 |
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Note |
£ |
£ |
Profit for the financial period |
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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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Interest payable and similar expenses |
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Gains on disposal of tangible assets |
(
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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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Changes in: |
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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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Cash generated from operations |
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Interest paid |
(
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(
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Interest received |
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------------ |
------------ |
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Net cash from operating activities |
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------------ |
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Purchase of tangible assets |
(
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(
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Proceeds from sale of tangible assets |
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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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Proceeds from/(repayment of) borrowings |
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(
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Proceeds from/(repayment of) loans from group undertakings |
(
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Proceeds from/(repayment of) finance leases |
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(
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Dividends paid |
(
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(
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------------ |
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Net cash used in 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 period |
215,114 |
(191,853) |
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Cash and cash equivalents at end of period |
16 |
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--------- |
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Notes to the Financial Statements |
Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Period from |
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1 Jul 22 to |
Year to |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
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Rendering of services |
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------------- |
------------- |
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2023 |
2022 |
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£ |
£ |
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United Kingdom |
18,093,848 |
15,583,178 |
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Period from |
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1 Jul 22 to |
Year to |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
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Depreciation of tangible assets |
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Gains on disposal of tangible assets |
(
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(
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------------ |
------------ |
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Period from |
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1 Jul 22 to |
Year to |
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31 May 23 |
30 Jun 22 |
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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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Other non-audit services |
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-------- |
-------- |
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31 May 23 |
30 Jun 22 |
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No. |
No. |
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Administrative staff |
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Management staff |
6 |
5 |
Number of other staff |
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---- |
---- |
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---- |
---- |
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Period from |
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1 Jul 22 to |
Year to |
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31 May 23 |
30 Jun 22 |
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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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Period from |
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1 Jul 22 to |
Year to |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
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Remuneration |
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Company contributions to defined contribution pension plans |
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--------- |
--------- |
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--------- |
--------- |
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31 May 23 |
30 Jun 22 |
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No. |
No. |
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Defined contribution plans |
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---- |
---- |
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Period from |
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1 Jul 22 to |
Year to |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
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Aggregate remuneration |
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-------- |
--------- |
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Period from |
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1 Jul 22 to |
Year to |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
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Interest on loans and receivables |
53,588 |
58,908 |
-------- |
-------- |
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Period from |
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1 Jul 22 to |
Year to |
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31 May 23 |
30 Jun 22 |
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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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Period from |
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1 Jul 22 to |
Year to |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
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Origination and reversal of timing differences |
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--------- |
--------- |
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Tax on profit |
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--------- |
--------- |
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Period from |
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1 Jul 22 to |
Year to |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
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Profit on ordinary activities before taxation |
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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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Effect of capital allowances and depreciation |
(
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(
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Utilisation of tax losses |
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(
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Deferred tax adjustment |
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------------ |
------------ |
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Tax on profit |
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------------ |
------------ |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
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Dividends on equity shares |
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------------ |
------------ |
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Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 July 2022 |
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Additions |
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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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At 31 May 2023 |
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------------- |
--------- |
------------ |
------------- |
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Depreciation |
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At 1 July 2022 |
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Charge for the period |
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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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At 31 May 2023 |
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------------- |
--------- |
------------ |
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Carrying amount |
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At 31 May 2023 |
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------------- |
--------- |
------------ |
------------- |
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At 30 June 2022 |
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------------- |
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Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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At 31 May 2023 |
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------------ |
--------- |
------------ |
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At 30 June 2022 |
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------------ |
--------- |
------------ |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
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Contracted for but not provided for in the financial statements |
|
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------------ |
------------ |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
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Raw materials and consumables |
|
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-------- |
-------- |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
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Trade debtors |
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Prepayments and accrued income |
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Amounts recoverable on long term contracts |
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Other debtors |
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------------ |
------------ |
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------------ |
------------ |
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31 May 23 |
30 Jun 22 |
|
£ |
£ |
|
Cash at bank and in hand |
|
|
Bank overdrafts |
– |
(
|
------------ |
--------- |
|
|
|
|
------------ |
--------- |
|
31 May 23 |
30 Jun 22 |
|
£ |
£ |
|
Bank loans and overdrafts |
– |
|
Trade creditors |
|
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Amounts owed to group undertakings |
|
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Accruals and deferred income |
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Social security and other taxes |
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Obligations under finance leases and hire purchase contracts |
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Director loan accounts |
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Other creditors |
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------------ |
------------ |
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------------ |
------------ |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
|
Obligations under finance leases and hire purchase contracts |
|
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------------ |
------------ |
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31 May 23 |
30 Jun 22 |
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£ |
£ |
|
Not later than 1 year |
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Later than 1 year and not later than 5 years |
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------------ |
------------ |
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------------ |
------------ |
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Deferred tax (note 21) |
|
£ |
|
At 1 July 2022 |
|
Charge against provision |
|
------------ |
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At 31 May 2023 |
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------------ |
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31 May 23 |
30 Jun 22 |
|
£ |
£ |
|
Included in provisions (note 20) |
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------------ |
------------ |
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31 May 23 |
30 Jun 22 |
|
£ |
£ |
|
Accelerated capital allowances |
|
|
Unused tax losses |
(
|
(
|
------------ |
------------ |
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1,822,114 |
1,316,797 |
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------------ |
------------ |
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31 May 23 |
30 Jun 22 |
|||
No. |
£ |
No. |
£ |
|
|
|
449 |
|
449 |
|
|
20 |
|
20 |
|
|
41 |
|
41 |
-------- |
---- |
-------- |
---- |
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-------- |
---- |
-------- |
---- |
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At 1 Jul 2022 |
Cash flows |
At 31 May 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
1,221,157 |
|
Bank overdrafts |
(43,624) |
43,624 |
– |
Debt due within one year |
(3,973,541) |
(244,229) |
(4,217,770) |
Debt due after one year |
(1,994,808) |
(560,062) |
(2,554,870) |
------------ |
------------ |
------------ |
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(
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(
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------------ |
------------ |
------------ |
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Notes to the Financial Statements (continued) |
2023 | 2022 | ||
£ | £ | ||
Loans due to related parties | 2,028,766 | 1,683,000 | |
Loans due from related companies | 1,535,054 | 2,004,255 | |
Interest received on loans to related companies | 53,588 | 57,704 | |
Sales to related parties | 295,594 | 204,560 | |
Purchases from directors | 49,940 | 392,780 | |
Purchases from related companies | 491,320 | 110,320 | |
Amounts due to directors | 620,740 | 68,812 | |