|
|
For the Year Ended
|
|
|
Financial Statements
|
Contents
|
Pages
|
Strategic Report
|
1
|
Directors' Report
|
2 to 3
|
Independent Auditor's Report to the Members
|
4 to 7
|
Statement of Income and Retained Earnings
|
8
|
Statement of Financial Position
|
9
|
Statement of Cash Flows
|
10
|
Notes to the Financial Statements
|
11 to 18
|
|
Strategic Report
|
|
Director
|
|
Directors' Report
|
|
|
|
|
|
|
|
|
|
Director
|
|
Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor)
|
For and on behalf of
|
|
Chartered accountants & statutory auditor
|
Middleborough House
|
16 Middleborough
|
Colchester
|
Essex
|
CO1 1QT
|
|
Statement of Income and Retained Earnings
|
2019
|
2018
|
||
Note
|
£
|
£
|
|
Turnover
|
4
|
|
|
Cost of sales
|
|
|
--------------
|
--------------
|
|
Gross Profit
|
|
|
Administrative expenses
|
|
|
|
Other operating income
|
5
|
|
|
-------------
|
-------------
|
||
Operating Profit
|
6
|
|
|
Other interest receivable and similar income
|
10
|
|
|
Interest payable and similar expenses
|
11
|
|
|
-------------
|
-------------
|
||
Profit Before Taxation
|
|
|
|
Tax on profit
|
12
|
|
|
----------
|
----------
|
||
Profit for the Financial Year and Total Comprehensive Income
|
|
|
|
----------
|
----------
|
||
Dividends paid and payable
|
13
|
–
|
(
|
Retained Earnings at the Start of the Year
|
|
|
-------------
|
-------------
|
|
Retained Earnings at the End of the Year
|
|
|
-------------
|
-------------
|
|
|
Statement of Financial Position
|
2019
|
2018
|
||
Note
|
£
|
£
|
£
|
Tangible assets
|
14
|
|
|
|
Stocks
|
15
|
|
|
|
Debtors
|
16
|
|
|
|
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
|
24
|
|
|
|
Profit and loss account
|
|
|
||
-------------
|
-------------
|
|||
Shareholders Funds
|
|
|
||
-------------
|
-------------
|
|||
|
Director
|
|
Statement of Cash Flows
|
2019
|
2018
|
|
Note
|
£
|
£
|
Profit for the financial year
|
|
|
Adjustments for:
|
||
Depreciation of tangible assets
|
|
|
Other interest receivable and similar 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
|
(
|
(
|
Interest received
|
|
|
Tax paid
|
(
|
(
|
----------
|
----------
|
|
Net cash (used in)/from operating activities
|
(
|
|
----------
|
----------
|
|
Purchase of tangible assets
|
(
|
(
|
Proceeds from sale of tangible assets
|
|
|
----------
|
----------
|
|
Net cash used in investing activities
|
(
|
(
|
----------
|
----------
|
|
Proceeds from borrowings
|
(
|
|
Payments of finance lease liabilities
|
|
(
|
Dividends paid
|
–
|
(
|
----------
|
----------
|
|
Net cash from/(used in) financing activities
|
|
(
|
----------
|
----------
|
|
Net (Decrease)/Increase in Cash and Cash Equivalents
|
(
|
|
|
Cash and Cash Equivalents at Beginning of Year
|
1,896,331
|
1,528,934
|
|
-------------
|
-------------
|
||
Cash and Cash Equivalents at End of Year
|
17
|
|
|
-------------
|
-------------
|
||
|
Notes to the Financial Statements
|
Plant & machinery
|
-
|
|
|
Fixtures & fittings
|
-
|
|
|
Motor vehicles
|
-
|
|
|
Computer equipment
|
-
|
|
|
2019
|
2018
|
|
£
|
£
|
|
Sale of goods
|
|
|
--------------
|
--------------
|
|
2019
|
2018
|
|
£
|
£
|
|
Other operating income
|
|
|
---------
|
---------
|
|
2019
|
2018
|
|
£
|
£
|
|
Depreciation of tangible assets
|
|
|
Loss on disposal of tangible assets
|
|
|
Impairment of trade debtors
|
2,147
|
23,987
|
----------
|
----------
|
|
2019
|
2018
|
|
£
|
£
|
|
Fees payable for the audit of the financial statements
|
|
|
-------
|
-------
|
|
2019
|
2018
|
|
No.
|
No.
|
|
Production staff
|
|
|
Management staff
|
2
|
2
|
----
|
----
|
|
|
|
|
----
|
----
|
|
2019
|
2018
|
|
£
|
£
|
|
Wages and salaries
|
|
|
Social security costs
|
|
|
Other pension costs
|
|
|
-------------
|
-------------
|
|
|
|
|
-------------
|
-------------
|
|
2019
|
2018
|
|
£
|
£
|
|
Remuneration
|
|
|
Company contributions to defined contribution pension plans
|
|
|
----------
|
----------
|
|
|
|
|
----------
|
----------
|
|
2019
|
2018
|
|
£
|
£
|
|
Interest on cash and cash equivalents
|
|
|
-------
|
----
|
|
2019
|
2018
|
|
£
|
£
|
|
Interest on obligations under finance leases and hire purchase contracts
|
|
|
Other interest payable and similar charges
|
|
|
---------
|
---------
|
|
|
|
|
---------
|
---------
|
|
2019
|
2018
|
|
£
|
£
|
|
UK current tax expense
|
|
|
Origination and reversal of timing differences
|
|
(
|
----------
|
----------
|
|
Tax on profit
|
|
|
----------
|
----------
|
|
2019
|
2018
|
|
£
|
£
|
|
Profit on ordinary activities before taxation
|
|
|
----------
|
----------
|
|
Profit on ordinary activities by rate of tax
|
|
|
Effect of different UK tax rates on some earnings
|
–
|
(
|
Other tax adjustment to increase/(decrease) tax liability
|
|
|
----------
|
----------
|
|
Tax on profit
|
|
|
----------
|
----------
|
|
2019
|
2018
|
|
£
|
£
|
|
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
|
–
|
|
----
|
-------
|
|
Plant and machinery
|
Fixtures and fittings
|
Motor vehicles
|
Computer equipment
|
Total
|
|
£
|
£
|
£
|
£
|
£
|
|
Cost
|
|||||
At 1st November 2018
|
|
|
|
|
|
Additions
|
|
–
|
–
|
–
|
|
Disposals
|
–
|
–
|
(
|
–
|
(
|
-------------
|
---------
|
---------
|
---------
|
-------------
|
|
At 31st October 2019
|
|
|
|
|
|
-------------
|
---------
|
---------
|
---------
|
-------------
|
|
Depreciation
|
|||||
At 1st November 2018
|
|
|
|
|
|
Charge for the year
|
|
|
|
|
|
Disposals
|
–
|
–
|
(
|
–
|
(
|
-------------
|
---------
|
---------
|
---------
|
-------------
|
|
At 31st October 2019
|
|
|
|
|
|
-------------
|
---------
|
---------
|
---------
|
-------------
|
|
Carrying amount
|
|||||
At 31st October 2019
|
|
|
|
|
|
-------------
|
---------
|
---------
|
---------
|
-------------
|
|
At 31st October 2018
|
|
|
|
|
|
-------------
|
---------
|
---------
|
---------
|
-------------
|
|
2019
|
2018
|
|
£
|
£
|
|
Raw materials and consumables
|
|
|
Work in progress
|
|
|
----------
|
----------
|
|
|
|
|
----------
|
----------
|
|
2019
|
2018
|
|
£
|
£
|
|
Trade debtors
|
|
|
Amounts owed by group undertakings
|
|
|
Prepayments and accrued income
|
|
|
Other debtors
|
|
|
-------------
|
-------------
|
|
|
|
|
-------------
|
-------------
|
|
2019
|
2018
|
|
£
|
£
|
|
Cash at bank and in hand
|
|
|
Bank overdrafts
|
(
|
(
|
-------------
|
-------------
|
|
|
|
|
-------------
|
-------------
|
|
2019
|
2018
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
|
Trade creditors
|
|
|
Accruals and deferred income
|
|
|
Corporation tax
|
|
|
Social security and other taxes
|
|
|
Obligations under finance leases and hire purchase contracts
|
|
|
Director loan accounts
|
|
|
Other creditors
|
|
|
-------------
|
-------------
|
|
|
|
|
-------------
|
-------------
|
|
2019
|
2018
|
|
£
|
£
|
|
Obligations under finance leases and hire purchase contracts
|
|
|
----------
|
---------
|
|
2019
|
2018
|
|
£
|
£
|
|
Not later than 1 year
|
|
|
Later than 1 year and not later than 5 years
|
|
|
----------
|
---------
|
|
|
|
|
----------
|
---------
|
|
Deferred tax (note 22)
|
|
£
|
|
At 1st November 2018
|
|
Additions
|
|
---------
|
|
At 31st October 2019
|
|
---------
|
|
2019
|
2018
|
|
£
|
£
|
|
Included in provisions (note 21)
|
|
|
---------
|
---------
|
|
2019
|
2018
|
|
£
|
£
|
|
Accelerated capital allowances
|
|
|
---------
|
---------
|
|
2019
|
2018
|
|||
No.
|
£
|
No.
|
£
|
|
|
|
4,000
|
|
4,000
|
|
|
2,000
|
|
2,000
|
-------
|
-------
|
-------
|
-------
|
|
|
|
|
|
|
-------
|
-------
|
-------
|
-------
|
|