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FOR THE YEAR ENDED
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FINANCIAL STATEMENTS
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CONTENTS
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PAGE
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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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5
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Directors' responsibilities statement
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7
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Independent auditor's report to the members
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8
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Statement of income and retained earnings
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11
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Statement of financial position
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12
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Statement of cash flows
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13
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Notes to the financial statements
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14
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OFFICERS AND PROFESSIONAL ADVISERS
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The board of directors
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Company secretary
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Registered office
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Auditor
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Chartered Certified Accountants & statutory auditor
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475 Salisbury House
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London Wall
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London
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EC2M 5QQ
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Bankers
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1 Churchill Place
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London
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E14 5HP
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1 Basinghall Avenue
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London
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EC2V 5DD
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Berkeley Square House
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London
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W1J 6BS
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9th Floor
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Royal Liver Building
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Liverpool
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L3 1HU
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Zenith Bank (UK) Limited
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39 Cornhill
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London
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EC3V 3ND
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Handelsbanken
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4th Floor
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10 Duke Street
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Liverpool
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L1 5AS
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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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DIRECTORS' RESPONSIBILITIES STATEMENT
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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 Certified Accountants & statutory auditor
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475 Salisbury House
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London Wall
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London
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EC2M 5QQ
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STATEMENT OF INCOME AND RETAINED EARNINGS
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2020
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2019
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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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Distribution costs
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(
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(
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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
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6
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Other interest receivable and similar income
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10
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Interest payable and similar expenses
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11
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(
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(
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------------
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------------
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PROFIT BEFORE TAXATION
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Tax on profit
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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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PROFIT FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME
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---------
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---------
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Dividends paid and payable
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13
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(
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(
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RETAINED EARNINGS AT THE START OF THE YEAR
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---------
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---------
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RETAINED EARNINGS AT THE END OF THE YEAR
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---------
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---------
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STATEMENT OF FINANCIAL POSITION
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2020
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2019
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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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------------
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------------
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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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-------------
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CREDITORS: amounts falling due within one year
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18
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-------------
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-------------
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NET CURRENT ASSETS
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-------------
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-------------
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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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-------------
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-------------
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NET ASSETS
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-------------
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Called up share capital
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22
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Profit and loss account
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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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Director
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STATEMENT OF CASH FLOWS
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2020
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2019
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£
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£
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Profit for the financial year
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Adjustments for:
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Depreciation of tangible assets
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Other interest receivable and similar income
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(
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(
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Interest payable and similar expenses
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Loss on disposal of tangible assets
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–
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Tax on profit
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Accrued expenses
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Changes in:
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Stocks
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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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------------
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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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Tax paid
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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 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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Acquisition of subsidiaries
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–
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(
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Proceeds from sale of subsidiaries
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–
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Proceeds from sale of interests in associates and joint ventures
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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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Dividends paid
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(
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(
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-------------
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------------
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Net cash used in financing activities
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(
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(
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-------------
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NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS
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(
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CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
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26,522,497
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25,376,626
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-------------
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CASH AND CASH EQUIVALENTS AT END OF YEAR
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-------------
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NOTES TO THE FINANCIAL STATEMENTS
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Long leasehold property
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-
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Yanco House over 75 years (buildings); over the lease term (land)
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Plant and machinery
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-
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30 Years/Reducing balance
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Fixtures, fittings and equipment
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-
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25% Reducing balance
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Motor vehicles
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-
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25% Reducing balance
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Fixtures and fittings Estuary
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-
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25% Reducing balance
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2020
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2019
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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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2020
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2019
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£
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£
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Africa
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Rest of the world
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-------------
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-------------
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-------------
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-------------
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2020
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2019
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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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2020
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2019
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£
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£
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Rental income
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--------
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--------
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2020
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2019
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£
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£
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Depreciation of tangible assets
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Loss on disposal of tangible assets
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–
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Research and development expenditure written off
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Foreign exchange differences
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(
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(
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---------
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---------
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2020
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2019
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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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Taxation advisory services
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Other non-audit services
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--------
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--------
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10,000
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10,000
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--------
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--------
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2020
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2019
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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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Management staff
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4
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5
|
----
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----
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----
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----
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2020
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2019
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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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2020
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2019
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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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---------
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---------
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---------
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---------
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2020
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2019
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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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----
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2020
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2019
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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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---------
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---------
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---------
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2020
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2019
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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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2020
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2019
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£
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£
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Other interest payable and similar charges
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--------
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--------
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2020
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2019
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£
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£
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UK current tax expense
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Origination and reversal of timing differences
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---------
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---------
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Tax on profit
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---------
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---------
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2020
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2019
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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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---------
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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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---------
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Tax on profit
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---------
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---------
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2020
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2019
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£
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£
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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
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---------
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---------
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At 1st February 2019
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Additions
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Disposals
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At 31st January 2020
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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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||||
Investment properties
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–
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–
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Long leasehold property
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–
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Computer Equipment
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(
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Motor vehicles
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–
|
(
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Plant & Machinery
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|
|
–
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Fixtures & Fittings Estuary
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97,746
|
1,050
|
–
|
98,796
|
------------
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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 1st February 2019
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Charge for the year
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Disposals
|
At 31st January 2020
|
|
£
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£
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£
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£
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|
Depreciation
|
||||
Investment properties
|
–
|
–
|
–
|
–
|
Long leasehold property
|
|
|
–
|
|
Computer Equipment
|
|
|
(
|
|
Motor vehicles
|
|
|
(
|
|
Plant & Machinery
|
|
|
–
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|
Fixtures & Fittings Estuary
|
67,641
|
8,020
|
–
|
75,661
|
------------
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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 31st January 2020
|
At 31st January 2019
|
|
£
|
£
|
|
Carrying amount
|
||
Investment properties
|
|
|
Long leasehold property
|
|
|
Computer Equipment
|
|
|
Motor vehicles
|
|
|
Plant & Machinery
|
|
|
Fixtures & Fittings Estuary
|
23,135
|
30,105
|
------------
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------------
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------------
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------------
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Shares in group undertakings
|
Shares in participating interests
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Total
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|
£
|
£
|
£
|
|
Cost
|
|||
At 1st February 2019
|
|
|
|
Disposals
|
(
|
–
|
(
|
--------
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---------
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---------
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At 31st January 2020
|
|
|
|
--------
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---------
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---------
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Impairment
|
|||
At 1st February 2019 and 31st January 2020
|
–
|
–
|
–
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--------
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---------
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---------
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|
Carrying amount
|
|||
At 31st January 2020
|
|
|
|
--------
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---------
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---------
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|
At 31st January 2019
|
|
|
|
--------
|
---------
|
---------
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|
2020
|
2019
|
|
£
|
£
|
|
Finished goods and goods for resale
|
|
|
---------
|
---------
|
|
2020
|
2019
|
|
£
|
£
|
|
Trade debtors
|
|
|
Amounts owed by group undertakings
|
|
|
Prepayments and accrued income
|
|
|
Other debtors
|
|
|
-------------
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------------
|
|
|
|
|
-------------
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------------
|
|
2020
|
2019
|
|
£
|
£
|
|
Trade creditors
|
|
|
Accruals and deferred income
|
|
|
Corporation tax
|
|
|
Social security and other taxes
|
|
|
Other creditors
|
|
|
-------------
|
-------------
|
|
|
|
|
-------------
|
-------------
|
|
Deferred tax (note 20)
|
|
£
|
|
At 1st February 2019
|
|
Additions
|
|
---------
|
|
At 31st January 2020
|
|
---------
|
|
2020
|
2019
|
|
£
|
£
|
|
Included in provisions (note 19)
|
|
|
---------
|
---------
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|
2020
|
2019
|
|
£
|
£
|
|
Accelerated capital allowances
|
|
|
Fair value adjustment of investment property
|
|
|
Unused tax losses
|
(
|
(
|
---------
|
---------
|
|
474,605
|
357,840
|
|
---------
|
---------
|
|
2020
|
2019
|
|||
No.
|
£
|
No.
|
£
|
|
|
|
10,000,000
|
|
10,000,000
|
-------------
|
-------------
|
-------------
|
-------------
|
|
At 1st February 2019
|
Cash flows
|
At 31st January 2020
|
|
£
|
£
|
£
|
|
Cash at bank and in hand
|
|
(12,029,032)
|
|
-------------
|
-------------
|
-------------
|
|
|
NOTES TO THE FINANCIAL STATEMENTS (continued)
|