|
|
|
|
Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
2 |
Independent auditor's report to the members |
4 |
Statement of comprehensive income |
9 |
Statement of financial position |
10 |
Statement of changes in equity |
11 |
Statement of cash flows |
12 |
Notes to the financial statements |
13 |
|
Strategic Report |
|
Director |
Registered office: |
|
|
|
|
|
|
Directors' Report |
|
|
|
|
|
|
|
|
|
Director |
Registered office: |
|
|
|
|
|
|
Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered accountants & statutory auditor |
61 Macrae Road |
Ham Green |
Bristol |
BS20 0DD |
|
Statement of Comprehensive Income |
2023 |
2022 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
|
|
------------- |
------------- |
|
Gross profit |
|
|
Distribution costs |
|
|
|
Administrative expenses |
|
|
|
Other operating income |
5 |
|
|
------------ |
------------ |
||
Operating profit |
6 |
|
|
Interest payable and similar expenses |
10 |
|
|
------------ |
------------ |
||
Profit before taxation |
|
|
|
Tax on profit |
11 |
|
|
------------ |
------------ |
||
Profit for the financial year and total comprehensive income |
|
|
|
------------ |
------------ |
||
|
Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Intangible assets |
13 |
|
|
Tangible assets |
14 |
|
|
------------ |
------------ |
||
|
|
||
Stocks |
15 |
|
|
Debtors |
16 |
|
|
Investments |
17 |
|
|
Cash at bank and in hand |
|
|
|
------------ |
------------ |
||
|
|
||
Creditors: amounts falling due within one year |
18 |
|
|
------------ |
------------ |
||
Net current assets |
|
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
19 |
|
|
Taxation including deferred tax |
21 |
|
|
------------ |
------------ |
||
Net assets |
|
|
|
------------ |
------------ |
||
Called up share capital |
25 |
|
|
Other reserves, including the fair value reserve |
26 |
|
|
Profit and loss account |
26 |
|
|
------------ |
------------ |
||
Members funds |
|
|
|
------------ |
------------ |
||
|
Director |
|
Statement of Changes in Equity |
Called up share capital |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
|||
£ |
£ |
£ |
£ |
|||
At 1 February 2021 |
|
|
|
|
||
Profit for the year |
|
|
||||
Other comprehensive income for the year: |
||||||
Transfer re investment property fair value adjustment |
– |
367,000 |
(367,000) |
– |
||
---- |
--------- |
------------ |
------------ |
|||
Total comprehensive income for the year |
– |
|
|
|
||
Dividends paid and payable |
12 |
– |
– |
(
|
(
|
|
---- |
--------- |
------------ |
------------ |
|||
Total investments by and distributions to owners |
– |
– |
(
|
(
|
||
At 31 January 2022 |
|
|
|
|
||
Profit for the year |
|
|
||||
---- |
--------- |
------------ |
------------ |
|||
Total comprehensive income for the year |
– |
– |
|
|
||
Dividends paid and payable |
12 |
– |
– |
(
|
(
|
|
---- |
---- |
--------- |
--------- |
|||
Total investments by and distributions to owners |
– |
– |
(
|
(
|
||
---- |
--------- |
------------ |
------------ |
|||
At 31 January 2023 |
|
|
|
|
||
---- |
--------- |
------------ |
------------ |
|||
|
Statement of Cash Flows |
2023 |
2022 |
|
£ |
£ |
|
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Amortisation of intangible assets |
|
|
Fair value adjustment of investment property |
– |
(
|
Government grant income |
– |
(
|
Interest payable and similar expenses |
|
|
Loss on disposal of tangible assets |
|
– |
Tax on profit |
|
|
Accrued (income)/expenses |
(
|
|
Changes in: |
||
Stocks |
(
|
(
|
Trade and other debtors |
(
|
(
|
Trade and other creditors |
(
|
|
------------ |
------------ |
|
Cash generated from operations |
|
|
Interest paid |
(
|
(
|
Tax paid |
(
|
(
|
------------ |
--------- |
|
Net cash from/(used in) operating activities |
|
(
|
------------ |
--------- |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
|
– |
Purchase of intangible assets |
(
|
– |
------------ |
--------- |
|
Net cash used in investing activities |
(
|
(
|
------------ |
--------- |
|
Proceeds from borrowings |
(
|
(
|
Government grant income |
– |
|
Payments of finance lease liabilities |
|
|
Dividends paid |
(
|
(
|
------------ |
--------- |
|
Net cash used in financing activities |
(
|
(
|
------------ |
--------- |
|
Net increase/(decrease) in cash and cash equivalents |
|
(
|
Cash and cash equivalents at beginning of year |
706,153 |
1,584,228 |
------------ |
------------ |
|
Cash and cash equivalents at end of year |
|
|
------------ |
------------ |
|
|
Notes to the Financial Statements |
Goodwill |
- |
Over 5 years |
|
Land |
- |
Not depreciated |
|
Plant and equipment |
- |
|
|
Fixtures and fittings |
- |
|
|
Motor vehicles |
- |
|
|
2023 |
2022 |
|
£ |
£ |
|
Sale of goods |
|
|
------------- |
------------- |
|
2023 |
2022 |
|
£ |
£ |
|
Rental income |
|
|
Government grant income |
– |
|
-------- |
--------- |
|
|
|
|
-------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
|
Depreciation of tangible assets |
|
|
Loss on disposal of tangible assets |
|
– |
Fair value adjustments to investment property |
– |
(
|
Impairment of trade debtors |
27,394 |
315 |
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
2023 |
2022 |
|
No. |
No. |
|
Production staff |
|
|
Administrative staff |
|
|
Management staff |
4 |
4 |
---- |
---- |
|
|
|
|
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Wages and salaries |
|
|
Other pension costs |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Remuneration |
|
|
-------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
Other interest payable and similar charges |
|
|
-------- |
-------- |
|
|
|
|
-------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
UK current tax expense |
|
|
Origination and reversal of timing differences |
|
|
--------- |
--------- |
|
Tax on profit |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
------------ |
------------ |
|
Profit on ordinary activities by rate of tax |
|
|
Effect of expenses not deductible for tax purposes |
– |
(
|
Effect of capital allowances and depreciation |
|
– |
------------ |
------------ |
|
Tax on profit |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Equity dividends on A ordinary shares |
|
|
Equity dividends on B ordinary shares |
|
|
Equity dividends on C ordinary shares |
|
|
Equity dividends on D ordinary shares |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
Goodwill |
|
£ |
|
Cost |
|
At 1 February 2022 |
|
Additions |
– |
Acquisitions through business combinations |
|
--------- |
|
At 31 January 2023 |
|
--------- |
|
Amortisation |
|
At 1 February 2022 |
|
Charge for the year |
|
--------- |
|
At 31 January 2023 |
|
--------- |
|
Carrying amount |
|
At 31 January 2023 |
|
--------- |
|
At 31 January 2022 |
|
--------- |
|
Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Investment property |
Total |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Feb 2022 |
|
|
|
|
1,080,000 |
|
Additions |
– |
|
|
|
– |
|
Disposals |
– |
(
|
– |
(
|
– |
(
|
------------ |
--------- |
--------- |
--------- |
------------ |
------------ |
|
At 31 Jan 2023 |
|
|
|
|
1,080,000 |
|
------------ |
--------- |
--------- |
--------- |
------------ |
------------ |
|
Depreciation |
||||||
At 1 Feb 2022 |
|
|
|
|
– |
|
Charge for the year |
|
|
|
|
– |
|
Disposals |
– |
(
|
– |
(
|
– |
(
|
------------ |
--------- |
--------- |
--------- |
------------ |
------------ |
|
At 31 Jan 2023 |
|
|
|
|
– |
|
------------ |
--------- |
--------- |
--------- |
------------ |
------------ |
|
Carrying amount |
||||||
At 31 Jan 2023 |
|
|
|
|
1,080,000 |
|
------------ |
--------- |
--------- |
--------- |
------------ |
------------ |
|
At 31 Jan 2022 |
|
|
|
|
1,080,000 |
|
------------ |
--------- |
--------- |
--------- |
------------ |
------------ |
|
Investment property |
|
£ |
|
At 31 January 2023 |
|
Aggregate cost |
446,996 |
Aggregate depreciation |
– |
--------- |
|
Carrying value |
446,996 |
--------- |
|
At 31 January 2022 |
|
Aggregate cost |
446,996 |
Aggregate depreciation |
– |
--------- |
|
Carrying value |
446,996 |
--------- |
|
Motor vehicles |
|
£ |
|
At 31 January 2023 |
|
--------- |
|
At 31 January 2022 |
|
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Finished goods and goods for resale |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Trade debtors |
|
|
Prepayments and accrued income |
|
|
Corporation tax repayable |
– |
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Other investments |
20,000 |
20,000 |
-------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Accruals and deferred income |
|
|
Social security and other taxes |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
Refundable deposit |
41,800 |
41,800 |
Corporation tax |
322,714 |
210,257 |
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Obligations under finance leases and hire purchase contracts |
|
|
Director loan accounts |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
Deferred tax (note 22) |
|
£ |
|
At 1 February 2022 |
|
Additions |
|
--------- |
|
At 31 January 2023 |
|
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Included in provisions (note 21) |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Accelerated capital allowances |
|
|
Fair value adjustment of investment property |
|
|
--------- |
--------- |
|
283,464 |
205,710 |
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Government grants released to profit or loss |
– |
|
---- |
--------- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
50 |
|
50 |
|
|
25 |
|
25 |
|
|
25 |
|
25 |
|
|
25 |
|
25 |
---- |
---- |
---- |
---- |
|
|
|
|
|
|
---- |
---- |
---- |
---- |
|
At 1 Feb 2022 |
Cash flows |
At 31 Jan 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
327,983 |
|
Debt due within one year |
(215,086) |
(18,089) |
(233,175) |
Debt due after one year |
(2,101,378) |
57,411 |
(2,043,967) |
Current asset investments |
|
– |
|
------------ |
--------- |
------------ |
|
(
|
|
(
|
|
------------ |
--------- |
------------ |
|
|
Notes to the Financial Statements (continued) |
2023 |
2022 |
|
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
– |
|
-------- |
--------- |
|
|
|
|
-------- |
--------- |
|