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Financial Statements
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Contents
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Pages
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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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3 to 5
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Independent auditor's report to the members
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6 to 9
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Statement of income and retained earnings
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10
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Statement of financial position
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11 to 12
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Notes to the financial statements
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13 to 23
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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 Accountants & statutory auditor
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3B Swallowfield Courtyard
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Wolverhampton Road
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Oldbury
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West Midlands
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B69 2JG
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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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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 Accountants & statutory auditor
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3B Swallowfield Courtyard
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Wolverhampton Road
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Oldbury
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West Midlands
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B69 2JG
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Statement of Income and Retained Earnings
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2022
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2021
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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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Gross profit
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Distribution costs
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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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Operating profit
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6
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Interest receivable
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10
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(
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Profit before taxation
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Taxation on ordinary activities
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11
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Profit for the financial year and total comprehensive income
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Dividends paid and payable
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12
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(
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(
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Retained earnings at the start of the year
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Retained earnings at the end of the year
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Statement of Financial Position
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2022
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2021
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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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14
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Investments
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15
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Stocks
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16
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Debtors
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17
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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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18
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Net current assets
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Total assets less current liabilities
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Taxation including deferred tax
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19
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Net assets
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Statement of Financial Position (continued)
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2022
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2021
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Note
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£
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£
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£
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Called up share capital
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23
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Share premium account
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24
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Capital redemption reserve
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24
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Profit and loss account
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24
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Shareholders funds
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Director
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Notes to the Financial Statements
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Goodwill
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-
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20 years straight Line
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Freehold property
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-
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No depreciation charged
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Leasehold property improvement
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-
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Plant and machinery
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-
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10%-20% straight Line
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Motor vehicles
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-
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2022
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2021
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£
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£
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Sale of goods
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2022
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2021
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£
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£
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United Kingdom
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Europe
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4,377,576
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3,649,474
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Asia
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623,721
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508,581
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America
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2,331,951
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1,246,514
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Australasia
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144,199
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123,046
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Africa
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15,499
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5,665
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Middle East
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57,815
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60,391
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2022
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2021
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£
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£
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Government grant income
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–
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----
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-------
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2022
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2021
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£
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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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Impairment of trade debtors
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2,180
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2,796
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Foreign exchange differences
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(
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Operating lease rental
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103,630
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103,630
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2022
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2021
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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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Audit-related assurance services
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Taxation advisory services
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Other non-audit services
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--------
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--------
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25,774
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20,173
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--------
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--------
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2022
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2021
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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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----
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----
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----
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2022
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2021
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£
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£
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Wages and salaries
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Social security costs
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Other pension costs
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------------
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2022
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2021
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£
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£
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Remuneration
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Company contributions to defined contribution pension plans
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2022
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2021
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No.
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No.
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Defined contribution plans
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----
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2022
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2021
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£
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£
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Aggregate remuneration
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Company contributions to defined contribution pension plans
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---------
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2022
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2021
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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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2022
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2021
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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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Total current tax
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Origination and reversal of timing differences
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(
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Taxation on ordinary activities
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---------
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2022
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2021
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£
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£
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Profit on ordinary activities before taxation
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------------
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Profit on ordinary activities by rate of tax
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Adjustment to tax charge in respect of prior periods
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(
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(
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Effect of expenses not deductible for tax purposes
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(
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Research and development claims
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(312,625)
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(203,034)
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Tax on profit
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2022
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2021
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£
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£
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Dividends on equity shares
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------------
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Goodwill
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£
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Cost
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At 1 April 2021 and 31 March 2022
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---------
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Amortisation
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At 1 April 2021 and 31 March 2022
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Carrying amount
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At 31 March 2022
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–
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At 31 March 2021
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–
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Freehold property
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Leasehold property improvements
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Plant and machinery
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Motor vehicles
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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 April 2021
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Additions
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–
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–
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Disposals
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–
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–
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(
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–
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(
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---------
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---------
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--------
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At 31 March 2022
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---------
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Depreciation
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At 1 April 2021
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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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---------
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---------
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--------
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At 31 March 2022
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---------
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---------
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--------
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Carrying amount
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At 31 March 2022
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---------
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---------
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------------
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--------
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At 31 March 2021
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---------
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Shares in group undertakings
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£
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Cost
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At 1 April 2021 and 31 March 2022
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--------
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Impairment
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At 1 April 2021 and 31 March 2022
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--------
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Carrying amount
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At 31 March 2022
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--------
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At 31 March 2021
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--------
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2022
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2021
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£
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£
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Resistance Wires Limited (dormant)
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100
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100
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Precision Shaped Wires Limited (dormant)
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100
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100
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2022
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2021
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£
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£
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2022
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2021
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£
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£
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Raw materials
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------------
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------------
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2022
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2021
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£
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£
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Trade debtors
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Amounts owed by group undertakings
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–
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Prepayments and accrued income
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Other debtors
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–
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------------
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------------
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------------
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2022
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2021
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£
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£
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Trade creditors
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Amounts owed to group undertakings
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Accruals and deferred income
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Corporation tax
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Social security and other taxes
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Director loan accounts
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–
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Other creditors
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–
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------------
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------------
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------------
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------------
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Deferred tax (note 20)
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£
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At 1 April 2021
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Additions
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(
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--------
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At 31 March 2022
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--------
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2022
|
2021
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£
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£
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Included in provisions (note 19)
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--------
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--------
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2022
|
2021
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£
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£
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Accelerated capital allowances
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--------
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--------
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2022
|
2021
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£
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£
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Government grants recognised directly in income
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–
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----
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-------
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2022
|
2021
|
|||
No.
|
£
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No.
|
£
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|
181,400
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|
181,400
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93,149
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93,149
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---------
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---------
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---------
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---------
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2022
|
2021
|
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£
|
£
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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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Later than 5 years
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---------
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---------
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