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FINANCIAL STATEMENTS
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Contents
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Page
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Strategic report
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1
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Directors' report
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3
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Independent auditor's report to the members
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5
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Consolidated statement of comprehensive income
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9
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Consolidated statement of financial position
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10
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Company statement of financial position
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11
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Consolidated statement of changes in equity
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12
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Company statement of changes in equity
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13
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Consolidated statement of cash flows
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14
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Notes to the financial statements
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15
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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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(Appointed
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(Appointed
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Director
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Registered office:
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
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(Senior Statutory Auditor)
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For and on behalf of
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Chartered Accountants & Statutory Auditor
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168 Church Road
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Hove
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East Sussex
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BN3 2DL
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
|
2022
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2021
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||
Note
|
£
|
£
|
|
Turnover
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4
|
|
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Cost of sales
|
|
|
-------------
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-------------
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Gross profit
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|
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Administrative expenses
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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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Interest payable and similar expenses
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10
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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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11
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----------
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----------
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Profit for the financial year
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----------
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----------
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Tax relating to components of other comprehensive income
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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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CONSOLIDATED STATEMENT OF FINANCIAL POSITION
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2022
|
2021
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||
Note
|
£
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£
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Intangible assets
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12
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Tangible assets
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13
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---------------
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---------------
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|||
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|||
Stocks
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15
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Debtors
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16
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Cash at bank and in hand
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---------------
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---------------
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|||
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|||
Creditors: amounts falling due within one year
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17
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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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Creditors: amounts falling due after more than one year
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18
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Provisions
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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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---------------
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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 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
|
2021
|
||
Note
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£
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£
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Tangible assets
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13
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|
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Investments
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14
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---------------
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---------------
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|||
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|||
Stocks
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15
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Debtors
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16
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Cash at bank and in hand
|
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-------------
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-------------
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|||
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|||
Creditors: amounts falling due within one year
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17
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-------------
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-------------
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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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Provisions
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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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---------------
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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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|
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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 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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|||
£
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£
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£
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£
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|||
At 1 April 2020
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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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Total comprehensive income for the year
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–
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–
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At 31 March 2021
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Profit for the year
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|
||||
Other comprehensive income for the year:
|
||||||
Tax relating to components of other comprehensive income
|
11
|
–
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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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--------------
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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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COMPANY 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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|||
£
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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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-------------
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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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At 31 March 2021
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Profit for the year
|
|
|
||||
Other comprehensive income for the year:
|
||||||
Tax relating to components of other comprehensive income
|
11
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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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--------------
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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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|
£
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£
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Profit 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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Government grant income
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(
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(
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Interest payable and similar expenses
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|
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Tax on profit
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Accrued income
|
(
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(
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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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(
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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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Interest paid
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(
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(
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Tax received/(paid)
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(
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---------
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----------
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Net cash 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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---------
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----------
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Net cash used in investing activities
|
(
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(
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---------
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----------
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Proceeds from borrowings
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(
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(
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Government grant income
|
|
|
----------
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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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Net (decrease)/increase in cash and cash equivalents
|
(
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Cash and cash equivalents at beginning of year
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220,495
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(24,125)
|
----------
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----------
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Cash and cash equivalents at end of year
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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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Fixtures and fittings
|
-
|
|
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Motor vehicles
|
-
|
|
|
2022
|
2021
|
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£
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£
|
|
Rendering of services
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|
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Rental income
|
|
|
-------------
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-------------
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-------------
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-------------
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2022
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2021
|
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£
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£
|
|
Government grant income
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|
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Other operating income
|
|
–
|
----------
|
----------
|
|
|
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----------
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----------
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2022
|
2021
|
|
£
|
£
|
|
Depreciation of tangible assets
|
|
|
Impairment of trade debtors
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82,288
|
–
|
---------
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---------
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2022
|
2021
|
|
£
|
£
|
|
Fees payable for the audit of the financial statements
|
|
|
-------
|
-------
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2022
|
2021
|
|
No.
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No.
|
|
Administrative staff
|
|
|
----
|
----
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|
2022
|
2021
|
|
£
|
£
|
|
Wages and salaries
|
|
|
Social security costs
|
|
|
Other pension costs
|
|
|
-------------
|
-------------
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|
|
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-------------
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-------------
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2022
|
2021
|
|
£
|
£
|
|
Remuneration
|
|
|
---------
|
---------
|
|
2022
|
2021
|
|
£
|
£
|
|
Interest on banks loans and overdrafts
|
|
|
Interest payable - other
|
|
–
|
---------
|
----------
|
|
|
|
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---------
|
----------
|
|
2022
|
2021
|
|
£
|
£
|
|
UK current tax income
|
|
|
Adjustments in respect of prior periods
|
–
|
(
|
---------
|
-------
|
|
Total current tax
|
|
|
---------
|
-------
|
|
Origination and reversal of timing differences
|
|
|
---------
|
---------
|
|
Tax on profit
|
|
|
---------
|
---------
|
|
2022
|
2021
|
|
£
|
£
|
|
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
|
(
|
(
|
Unused tax losses
|
|
–
|
Deferred tax
|
|
|
----------
|
----------
|
|
Tax on profit
|
|
|
----------
|
----------
|
|
Group
|
Goodwill
|
£
|
|
Cost
|
|
At 1 April 2021 and 31 March 2022
|
|
----------
|
|
Amortisation
|
|
At 1 April 2021 and 31 March 2022
|
|
----------
|
|
Carrying amount
|
|
At 1 April 2021 and 31 March 2022
|
|
----------
|
|
At 31 March 2021
|
|
----------
|
|
Group
|
Freehold property
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
£
|
£
|
£
|
£
|
|
Cost
|
||||
At 1 April 2021
|
|
|
|
|
Additions
|
–
|
|
|
|
---------------
|
----------
|
---------
|
---------------
|
|
At 31 March 2022
|
|
|
|
|
---------------
|
----------
|
---------
|
---------------
|
|
Depreciation
|
||||
At 1 April 2021
|
–
|
|
|
|
Charge for the year
|
–
|
|
|
|
---------------
|
----------
|
---------
|
---------------
|
|
At 31 March 2022
|
–
|
|
|
|
---------------
|
----------
|
---------
|
---------------
|
|
Carrying amount
|
||||
At 31 March 2022
|
|
|
|
|
---------------
|
----------
|
---------
|
---------------
|
|
At 31 March 2021
|
|
|
|
|
---------------
|
----------
|
---------
|
---------------
|
|
Company
|
Freehold property
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
£
|
£
|
£
|
£
|
|
Cost
|
||||
At 1 April 2021
|
|
|
–
|
|
Additions
|
–
|
–
|
|
|
---------------
|
---------
|
-------
|
---------------
|
|
At 31 March 2022
|
|
|
|
|
---------------
|
---------
|
-------
|
---------------
|
|
Depreciation
|
||||
At 1 April 2021
|
–
|
|
–
|
|
Charge for the year
|
–
|
–
|
|
|
---------------
|
---------
|
-------
|
---------------
|
|
At 31 March 2022
|
–
|
|
|
|
---------------
|
---------
|
-------
|
---------------
|
|
Carrying amount
|
||||
At 31 March 2022
|
|
–
|
|
|
---------------
|
---------
|
-------
|
---------------
|
|
At 31 March 2021
|
|
–
|
–
|
|
---------------
|
---------
|
-------
|
---------------
|
|
Group and company
|
Freehold property
|
£
|
|
At 31 March 2022
|
|
Aggregate cost
|
7,598,958
|
Aggregate depreciation
|
–
|
-------------
|
|
Carrying value
|
|
-------------
|
|
At 31 March 2021
|
|
Aggregate cost
|
7,598,958
|
Aggregate depreciation
|
–
|
-------------
|
|
Carrying value
|
|
-------------
|
|
Company
|
Shares in group undertakings
|
£
|
|
Cost
|
|
At 1 April 2021 and 31 March 2022
|
|
----------
|
|
Impairment
|
|
At 1 April 2021 and 31 March 2022
|
–
|
----------
|
|
Carrying amount
|
|
At 1 April 2021 and 31 March 2022
|
|
----------
|
|
At 31 March 2021
|
|
----------
|
|
Class of share
|
Percentage of shares held
|
|
Subsidiary undertakings
|
||
|
Ordinary
|
100
|
Group
|
Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
|
£
|
|
Property development costs
|
|
|
|
|
-------------
|
-------------
|
-------------
|
-------------
|
|
Group
|
Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
|
£
|
|
Trade debtors
|
|
|
|
|
Amounts owed by group undertakings
|
–
|
–
|
|
|
Prepayments and accrued income
|
|
|
–
|
–
|
Amounts due from related parties
|
|
|
–
|
–
|
-------------
|
-------------
|
-------------
|
-------------
|
|
|
|
|
|
|
-------------
|
-------------
|
-------------
|
-------------
|
|
Group
|
Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
|
£
|
|
Bank loans and overdrafts
|
|
|
|
|
Trade creditors
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
Corporation tax
|
|
|
|
|
Social security and other taxes
|
|
|
–
|
–
|
Amounts owed to related parties
|
|
|
|
|
Other creditors
|
|
|
|
|
-------------
|
---------------
|
-------------
|
-------------
|
|
|
|
|
|
|
-------------
|
---------------
|
-------------
|
-------------
|
|
Group
|
Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
|
£
|
|
Bank loans and overdrafts
|
|
|
|
|
-------------
|
-------------
|
-------------
|
-------------
|
|
Group
|
Deferred tax (note 20)
|
£
|
|
At 1 April 2021
|
|
Additions
|
|
-------------
|
|
At 31 March 2022
|
|
-------------
|
|
Company
|
Deferred tax (note 20)
|
£
|
|
At 1 April 2021
|
|
Additions
|
|
-------------
|
|
At 31 March 2022
|
|
-------------
|
|
Group
|
Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
|
£
|
|
Included in provisions (note 19)
|
|
|
|
|
-------------
|
-------------
|
-------------
|
-------------
|
|
Group
|
Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
|
£
|
|
Accelerated capital allowances
|
|
|
|
|
Revaluation of tangible assets
|
|
|
|
|
-------------
|
-------------
|
-------------
|
-------------
|
|
5,184,712
|
3,966,516
|
5,168,789
|
3,947,363
|
|
-------------
|
-------------
|
-------------
|
-------------
|
|
Group
|
Company
|
|||
2022
|
2021
|
2022
|
2021
|
|
£
|
£
|
£
|
£
|
|
Government grants recognised directly in income
|
|
|
–
|
–
|
----------
|
----------
|
----
|
----
|
|
2022
|
2021
|
|||
No.
|
£
|
No.
|
£
|
|
|
|
1
|
|
1
|
----
|
----
|
----
|
----
|
|
At 1 Apr 2021
|
Cash flows
|
At 31 Mar 2022
|
|
£
|
£
|
£
|
|
Cash at bank and in hand
|
|
(97,678)
|
|
Debt due within one year
|
(231,158)
|
(3,842)
|
(235,000)
|
Debt due after one year
|
(4,200,872)
|
230,042
|
(3,970,830)
|
-------------
|
----------
|
-------------
|
|
(
|
|
(
|
|
-------------
|
----------
|
-------------
|
|