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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 to 3
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Directors' report
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4 to 5
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Independent auditor's report to the members
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6 to 9
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Consolidated statement of comprehensive income
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10
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Consolidated statement of financial position
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11
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Company statement of financial position
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12
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Consolidated statement of changes in equity
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13
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Company statement of changes in equity
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14
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Consolidated statement of cash flows
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15
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Notes to the financial statements
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16 to 28
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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 Auditors
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2 Westbrook Court
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Sharrow Vale Road
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Sheffield
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S11 8YZ
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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 Auditors
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2 Westbrook Court
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Sharrow Vale Road
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Sheffield
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S11 8YZ
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Consolidated Statement of Comprehensive Income
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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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(
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(
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------------
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------------
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Gross profit
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Administrative expenses
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(
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(
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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 profit/(loss)
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6
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(
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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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------------
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------------
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Profit/(loss) before taxation
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(
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Tax on profit/(loss)
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–
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–
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---------
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---------
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Profit/(loss) for the financial year
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(
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---------
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---------
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Revaluation of tangible assets
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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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Consolidated 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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Intangible assets
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11
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Tangible assets
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12
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------------
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-------------
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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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Creditors: amounts falling due within one year
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17
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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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Net (liabilities)/assets
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(
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Called up share capital
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23
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Revaluation reserve
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24
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Profit and loss account
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24
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(
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(
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Shareholders (deficit)/funds
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(
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------------
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------------
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Director
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Company 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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Investments
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13
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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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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
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18
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------------
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Net assets
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Called up share capital
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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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Director
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Consolidated Statement of Changes in Equity
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Called up share capital
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Revaluation reserve
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Profit and loss account
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Total
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Note
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£
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£
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£
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£
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At 1 April 2020
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(
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Loss for the year
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(
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(
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Other comprehensive income for the year:
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||||||
Revaluation of tangible assets
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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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----
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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 31 March 2021
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(
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Profit for the year
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Other comprehensive income for the year:
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Revaluation of tangible assets
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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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----
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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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At 31 March 2022
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(
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(
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----
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Company Statement of Changes in Equity
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Called up share capital
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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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At 1 April 2020
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–
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Profit for the year
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–
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–
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At 31 March 2021
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–
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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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At 31 March 2022
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–
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----
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----
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----
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Consolidated Statement of Cash Flows
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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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Profit/(loss) 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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Amortisation of intangible assets
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Government grant income
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(
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(
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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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Accrued expenses
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Interest accrued to directors
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(100,000)
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(100,000)
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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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Net cash from/(used in) 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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---------
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Net cash from/(used in) investing activities
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(
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---------
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---------
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Repayment of borrowings
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(
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(
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Government grant income
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Repayment of finance lease liabilities
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(
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(
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Payments of hire purchase liabilities
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(
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(
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---------
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---------
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Net cash (used in)/from financing activities
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(
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---------
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---------
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Net increase in cash and cash equivalents
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Cash and cash equivalents at beginning of year
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(5,628)
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(36,181)
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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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--------
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Notes to the Financial Statements
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Goodwill
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-
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10% straight line
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Freehold property
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-
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No depreciation
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Fixtures and fittings
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-
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3 to 10 years straight line
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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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------------
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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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Government grant income
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Other operating income
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–
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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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Amortisation of intangible assets
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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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2,350
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(13,657)
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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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Fees payable for the audit of the financial statements
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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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Management staff
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10
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10
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Administration and support
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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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---------
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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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Interest on cash and cash equivalents
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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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Interest on banks loans and overdrafts
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Interest on obligations under finance leases and hire purchase contracts
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Other interest payable and similar charges
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---------
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---------
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---------
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Group
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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
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Charge for the year
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------------
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At 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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Group
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Freehold property
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Long leasehold property
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Fixtures and fittings
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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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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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Revaluations
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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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-------------
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Depreciation
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||||
At 1 April 2021
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|
–
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Charge for the year
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–
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–
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Disposals
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(
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–
|
–
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(
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------------
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------------
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------------
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-------------
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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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-------------
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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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-------------
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At 31 March 2021
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------------
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------------
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------------
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-------------
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Group and company
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Long leasehold property
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£
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|
At 31 March 2022
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Aggregate cost
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3,245,292
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Aggregate depreciation
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–
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------------
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Carrying value
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------------
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At 31 March 2021
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Aggregate cost
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3,245,292
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Aggregate depreciation
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–
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------------
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Carrying value
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------------
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Group
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Long leasehold property
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Fixtures and fittings
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Total
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£
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£
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£
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At 31 March 2022
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5,100,000
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------------
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-------
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------------
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At 31 March 2021
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6,500,000
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------------
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-------
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------------
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Company
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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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Impairment
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At 1 April 2021 and 31 March 2022
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–
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----
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Carrying amount
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At 1 April 2021 and 31 March 2022
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----
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At 31 March 2021
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----
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Class of share
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Percentage of shares held
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Subsidiary undertakings
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|
ordinary
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100
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|
ordinary
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100
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Group
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Company
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2022
|
2021
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2022
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2021
|
|
£
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£
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£
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£
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|
Raw materials and consumables
|
|
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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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Group
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Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
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£
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|
Trade debtors
|
|
|
–
|
–
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Amounts owed by group undertakings
|
–
|
–
|
|
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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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---------
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---------
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---------
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---------
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2022
|
2021
|
|
£
|
£
|
|
Cash at bank and in hand
|
|
|
Bank overdrafts
|
–
|
(
|
---------
|
--------
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|
|
(
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|
---------
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--------
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|
Group
|
Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
|
£
|
|
Bank loans and overdrafts
|
|
|
–
|
–
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Trade creditors
|
|
|
–
|
–
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Accruals and deferred income
|
|
|
–
|
–
|
Social security and other taxes
|
|
|
–
|
–
|
Obligations under finance leases and hire purchase contracts
|
|
|
–
|
–
|
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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------------
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----
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----
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Group
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Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
|
£
|
|
Director loan accounts
|
|
|
|
|
Bank loans and overdrafts
|
–
|
|
–
|
–
|
Obligations under finance leases and hire purchase contracts
|
|
|
–
|
–
|
Other creditors
|
|
|
–
|
–
|
------------
|
------------
|
------------
|
------------
|
|
|
|
|
|
|
------------
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------------
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------------
|
------------
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Group
|
Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
|
£
|
|
Not later than 1 year
|
|
|
–
|
–
|
Later than 1 year and not later than 5 years
|
|
|
–
|
–
|
Later than 5 years
|
|
|
–
|
–
|
------------
|
------------
|
----
|
----
|
|
|
|
–
|
–
|
|
------------
|
------------
|
----
|
----
|
|
Group
|
Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
|
£
|
|
Government grants recognised directly in income
|
|
|
–
|
–
|
--------
|
---------
|
----
|
----
|
|
2022
|
2021
|
|||
No.
|
£
|
No.
|
£
|
|
|
|
100
|
|
100
|
----
|
----
|
----
|
----
|
|
At 1 Apr 2021
|
Cash flows
|
At 31 Mar 2022
|
|
£
|
£
|
£
|
|
Cash at bank and in hand
|
|
563,865
|
|
Bank overdrafts
|
(32,287)
|
32,287
|
–
|
Debt due within one year
|
(136,750)
|
(2,039,085)
|
(2,175,835)
|
Debt due after one year
|
(6,045,378)
|
2,175,835
|
(3,869,543)
|
------------
|
------------
|
------------
|
|
(
|
|
(
|
|
------------
|
------------
|
------------
|
|
|
Notes to the Financial Statements (continued)
|