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For the period ended |
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Consolidated Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Independent auditor's report to the member |
6 |
Consolidated statement of comprehensive income |
10 |
Consolidated statement of financial position |
11 |
Company statement of financial position |
12 |
Consolidated statement of changes in equity |
13 |
Company statement of changes in equity |
14 |
Consolidated statement of cash flows |
15 |
Notes to the consolidated financial statements |
16 |
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Officers and Professional Advisers |
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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Enterprise House |
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38 Tyndall Court |
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Commerce Road |
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Lynch Wood |
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Peterborough |
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Cambridgeshire |
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PE2 6LR |
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Strategic Report |
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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 Member of
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered accountants & statutory auditor |
Enterprise House |
38 Tyndall Court |
Commerce Road |
Lynch Wood |
Peterborough |
Cambridgeshire |
PE2 6LR |
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Consolidated Statement of Comprehensive Income |
Period from |
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1 Feb 22 to |
Year to |
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31 Dec 22 |
31 Jan 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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Other operating income |
5 |
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------------- |
------------- |
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Operating profit |
6 |
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Other interest receivable and similar income |
10 |
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Interest payable and similar expenses |
11 |
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------------- |
------------- |
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Profit before taxation |
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Tax on profit |
12 |
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------------ |
------------ |
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Profit for the financial period |
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------------ |
------------ |
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Foreign currency retranslation |
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(
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Increase in other reserves |
4,925 |
10,803 |
--------- |
--------- |
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Other comprehensive income for the period |
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(
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------------ |
------------ |
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Total comprehensive income for the period |
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------------ |
------------ |
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Consolidated Statement of Financial Position |
31 Dec 22 |
31 Jan 22 |
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Note |
£ |
£ |
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Intangible assets |
14 |
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Tangible assets |
15 |
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-------- |
-------- |
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Debtors |
17 |
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Cash at bank and in hand |
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------------- |
------------- |
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Creditors: amounts falling due within one year |
18 |
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------------- |
------------- |
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Net current assets |
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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 |
19 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
21 |
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Other reserves, including the fair value reserve |
22 |
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Profit and loss account |
22 |
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------------ |
------------ |
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Shareholder funds |
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------------ |
------------ |
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Director |
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Company Statement of Financial Position |
31 Dec 22 |
31 Jan 22 |
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Note |
£ |
£ |
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Tangible assets |
15 |
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Investments |
16 |
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-------- |
-------- |
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Debtors |
17 |
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Cash at bank and in hand |
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------------ |
------------ |
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Creditors: amounts falling due within one year |
18 |
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------------ |
------------ |
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Net current assets |
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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 |
19 |
– |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
21 |
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Profit and loss account |
22 |
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------------ |
------------ |
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Shareholder funds |
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------------ |
------------ |
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Director |
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Consolidated Statement of Changes in Equity |
Called up share capital |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 February 2021 |
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Profit for the period |
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Other comprehensive income for the period: |
||||||
Foreign currency retranslation |
– |
– |
(
|
(
|
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Increase in other reserves |
– |
10,803 |
– |
10,803 |
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---- |
-------- |
------------ |
------------ |
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Total comprehensive income for the period |
– |
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Dividends paid and payable |
13 |
– |
– |
(
|
(
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---- |
-------- |
------------ |
------------ |
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Total investments by and distributions to owners |
– |
– |
(
|
(
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At 31 January 2022 |
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Profit for the period |
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Other comprehensive income for the period: |
||||||
Foreign currency retranslation |
– |
– |
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|
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Increase in other reserves |
– |
4,925 |
– |
4,925 |
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---- |
-------- |
------------ |
------------ |
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Total comprehensive income for the period |
– |
|
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Dividends paid and payable |
13 |
– |
– |
(
|
(
|
|
---- |
---- |
------------ |
------------ |
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Total investments by and distributions to owners |
– |
– |
(
|
(
|
||
---- |
-------- |
------------ |
------------ |
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At 31 December 2022 |
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---- |
-------- |
------------ |
------------ |
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Company Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 February 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 |
13 |
– |
(
|
(
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|
---- |
------------ |
------------ |
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Total investments by and distributions to owners |
– |
(
|
(
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At 31 January 2022 |
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Profit for the period |
|
|
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Other comprehensive income for the period: |
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Foreign currency retranslation |
– |
|
|
||
---- |
------------ |
------------ |
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Total comprehensive income for the period |
– |
|
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Dividends paid and payable |
13 |
– |
(
|
(
|
|
---- |
------------ |
------------ |
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Total investments by and distributions to owners |
– |
(
|
(
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||
---- |
------------ |
------------ |
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At 31 December 2022 |
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---- |
------------ |
------------ |
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Consolidated Statement of Cash Flows |
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
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Profit for the financial period |
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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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Other interest receivable and similar income |
(
|
(
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Interest payable and similar expenses |
|
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Tax on profit |
|
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Accrued (income)/expenses |
(
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Changes in: |
||
Trade and other debtors |
(
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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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Tax paid |
(
|
(
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------------ |
------------ |
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Net cash (used in)/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 |
|
|
Purchase of intangible assets |
(
|
(
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------------ |
------------ |
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Net cash used in investing activities |
(
|
(
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------------ |
------------ |
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Proceeds from borrowings |
|
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Foreign exchange on consolidation |
|
(
|
Dividends paid |
(
|
(
|
Other financing cash flow adjustment |
226 |
11,695 |
------------ |
------------ |
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Net cash used in financing activities |
(
|
(
|
------------ |
------------ |
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Net (decrease)/increase in cash and cash equivalents |
(
|
|
Cash and cash equivalents at beginning of period |
7,392,390 |
4,685,024 |
------------ |
------------ |
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Cash and cash equivalents at end of period |
|
|
------------ |
------------ |
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Notes to the Consolidated Financial Statements |
Development costs |
- |
over the estimated useful life of five years |
|
Fixtures and fittings |
- |
|
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Equipment |
- |
33% on cost, 25% reducing balance |
|
Period from |
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1 Feb 22 to |
Year to |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
Rendering of services |
|
|
------------- |
------------- |
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Period from |
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1 Feb 22 to |
Year to |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
United Kingdom |
|
|
Overseas |
|
|
------------- |
------------- |
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|
------------- |
------------- |
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Period from |
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1 Feb 22 to |
Year to |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
Other operating income |
|
|
-------- |
-------- |
|
Period from |
||
1 Feb 22 to |
Year to |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
|
Depreciation of tangible assets |
|
|
Impairment of trade debtors |
(2,363) |
11,875 |
Foreign exchange differences |
(
|
|
--------- |
-------- |
|
Period from |
||
1 Feb 22 to |
Year to |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
Fees payable for the audit of the consolidated financial statements |
|
|
-------- |
-------- |
|
31 Dec 22 |
31 Jan 22 |
|
No. |
No. |
|
Administrative staff |
|
|
---- |
---- |
|
Period from |
||
1 Feb 22 to |
Year to |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
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------------ |
------------ |
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Period from |
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1 Feb 22 to |
Year to |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
Remuneration |
|
|
-------- |
-------- |
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Period from |
||
1 Feb 22 to |
Year to |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
Interest on loans and receivables |
238 |
6,011 |
Interest on cash and cash equivalents |
|
|
---- |
------- |
|
|
|
|
---- |
------- |
|
Period from |
||
1 Feb 22 to |
Year to |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Other interest payable and similar charges |
|
|
-------- |
------- |
|
|
|
|
-------- |
------- |
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Period from |
||
1 Feb 22 to |
Year to |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
UK current tax expense |
|
|
Adjustments in respect of prior periods |
(
|
– |
Foreign tax |
866,989 |
1,035,786 |
------------ |
------------ |
|
Total current tax |
|
|
------------ |
------------ |
|
Tax on profit |
|
|
------------ |
------------ |
|
Period from |
||
1 Feb 22 to |
Year to |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
------------ |
------------ |
|
Profit on ordinary activities by rate of tax |
|
|
Adjustment to tax charge in respect of prior periods |
(
|
– |
Effect of expenses not deductible for tax purposes |
|
|
Effect of capital allowances and depreciation |
|
|
Differences in tax rates between countries |
263,080 |
280,274 |
------------ |
------------ |
|
Tax on profit |
|
|
------------ |
------------ |
|
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
|
Dividends paid during the period (excluding those for which a liability existed at the end of the prior period ) |
|
|
------------ |
------------ |
|
Group |
Development costs |
£ |
|
Cost |
|
At 1 February 2022 |
|
Additions |
|
Other movements |
|
------- |
|
At 31 December 2022 |
|
------- |
|
Amortisation |
|
At 1 February 2022 |
|
Charge for the period |
|
Other movements |
|
------- |
|
At 31 December 2022 |
|
------- |
|
Carrying amount |
|
At 31 December 2022 |
|
------- |
|
At 31 January 2022 |
|
------- |
|
Group |
Fixtures and fittings |
Equipment |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 February 2022 |
|
96,773 |
|
Additions |
|
31,341 |
|
Disposals |
– |
(
13,326) |
(
|
Revaluations |
– |
462 |
|
-------- |
--------- |
--------- |
|
At 31 December 2022 |
|
115,250 |
|
-------- |
--------- |
--------- |
|
Depreciation |
|||
At 1 February 2022 |
|
68,380 |
|
Charge for the period |
|
14,447 |
|
Disposals |
– |
(
12,539) |
(
|
Revaluations |
– |
757 |
|
-------- |
--------- |
--------- |
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At 31 December 2022 |
|
71,045 |
|
-------- |
--------- |
--------- |
|
Carrying amount |
|||
At 31 December 2022 |
|
44,205 |
|
-------- |
--------- |
--------- |
|
At 31 January 2022 |
|
28,393 |
|
-------- |
--------- |
--------- |
|
Company |
Fixtures and fittings |
Equipment |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 February 2022 |
|
36,065 |
|
Additions |
|
2,124 |
|
-------- |
-------- |
-------- |
|
At 31 December 2022 |
|
38,189 |
|
-------- |
-------- |
-------- |
|
Depreciation |
|||
At 1 February 2022 |
|
21,126 |
|
Charge for the period |
|
4,619 |
|
-------- |
-------- |
-------- |
|
At 31 December 2022 |
|
25,745 |
|
-------- |
-------- |
-------- |
|
Carrying amount |
|||
At 31 December 2022 |
|
12,444 |
|
-------- |
-------- |
-------- |
|
At 31 January 2022 |
|
14,939 |
|
-------- |
-------- |
-------- |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 February 2022 |
|
Additions |
|
-------- |
|
At 31 December 2022 |
|
-------- |
|
Impairment |
|
At 1 February 2022 and 31 December 2022 |
– |
-------- |
|
Carrying amount |
|
At 31 December 2022 |
|
-------- |
|
At 31 January 2022 |
|
-------- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
31 Dec 22 |
31 Jan 22 |
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
|
|
Amounts owed by group undertakings |
– |
– |
– |
|
Prepayments and accrued income |
|
|
|
|
Other debtors |
|
|
|
|
------------- |
------------- |
------------ |
------------ |
|
|
|
|
|
|
------------- |
------------- |
------------ |
------------ |
|
Group |
Company |
|||
31 Dec 22 |
31 Jan 22 |
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
|
|
Trade creditors |
|
|
|
|
Amounts owed to group undertakings |
– |
– |
|
|
Accruals and deferred income |
|
|
|
|
Social security and other taxes |
|
|
|
|
Director loan accounts |
|
|
|
|
Other creditors |
|
|
|
|
------------- |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------- |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
31 Dec 22 |
31 Jan 22 |
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
|
--------- |
------------ |
---- |
--------- |
|
31 Dec 22 |
31 Jan 22 |
|||
No. |
£ |
No. |
£ |
|
|
|
2 |
|
2 |
---- |
---- |
---- |
---- |
|
At 1 Feb 2022 |
Cash flows |
At 31 Dec 2022 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(4,950,947) |
|
Debt due within one year |
(534,137) |
(856,743) |
(1,390,880) |
Debt due after one year |
(1,517,540) |
820,891 |
(696,649) |
------------ |
------------ |
------------ |
|
|
(
|
|
|
------------ |
------------ |
------------ |
|
Group |
Company |
|||
31 Dec 22 |
31 Jan 22 |
31 Dec 22 |
31 Jan 22 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
|
|
Later than 1 year and not later than 5 years |
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
|
|
|
|
|
--------- |
--------- |
--------- |
--------- |
|
|
Notes to the Consolidated Financial Statements (continued) |