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FINANCIAL STATEMENTS |
Contents |
Pages |
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OFFICERS AND PROFESSIONAL ADVISERS |
The board of directors |
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Registered office |
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England |
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Auditor |
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Chartered Accountants & statutory auditor |
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35 Westgate |
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Huddersfield |
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HD1 1PA |
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Bankers |
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33 Park Row |
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Leeds |
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LS1 1LD |
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STRATEGIC REPORT |
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Director |
Director |
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DIRECTORS' REPORT |
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Director |
Director |
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered Accountants & statutory auditor |
35 Westgate |
Huddersfield |
HD1 1PA |
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME |
2023 |
2022 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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Gross profit |
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Distribution costs |
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– |
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Administrative expenses |
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Other operating income |
5 |
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Operating profit |
6 |
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Share of profit of associates |
16 |
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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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Profit before taxation |
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Tax on profit |
12 |
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Profit for the financial year and total comprehensive income |
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
2023 |
2022 |
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Note |
£ |
£ |
Intangible assets |
14 |
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Tangible assets |
15 |
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Investments: |
16 |
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Investments in associates |
160,593 |
154,367 |
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Stocks |
17 |
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Debtors |
18 |
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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 |
19 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
20 |
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Taxation including deferred tax |
21 |
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Net assets |
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Called up share capital |
26 |
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Profit and loss account |
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Shareholders funds |
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Director |
Director |
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COMPANY STATEMENT OF FINANCIAL POSITION |
2023 |
2022 |
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Note |
£ |
£ |
Investments |
16 |
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Debtors |
18 |
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Creditors: amounts falling due within one year |
19 |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
20 |
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Net assets |
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Called up share capital |
26 |
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Shareholders funds |
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Director |
Director |
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 October 2021 |
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Profit for the year |
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Total comprehensive income for the year |
– |
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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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(
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At 30 September 2022 |
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Profit for the year |
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------------ |
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Total comprehensive income for the year |
– |
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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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(
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At 30 September 2023 |
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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 October 2021 |
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– |
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Profit for the year |
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Total comprehensive income for the year |
– |
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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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(
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At 30 September 2022 |
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– |
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Profit for the year |
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Total comprehensive income for the year |
– |
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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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(
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------------ |
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At 30 September 2023 |
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– |
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CONSOLIDATED STATEMENT OF CASH FLOWS |
2023 |
2022 |
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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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Amortisation of intangible assets |
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Government grant income |
(
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(
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Share of profit of associates |
(
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(
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Other interest receivable and similar income |
– |
(
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Interest payable and similar expenses |
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Gains on disposal of tangible assets |
– |
(
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Tax on profit |
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Changes in: |
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Stocks |
(
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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 from operating activities |
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Purchase of tangible assets |
(
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(
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Proceeds from sale of tangible assets |
– |
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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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Repayments of borrowings |
– |
(
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Proceeds from loans from group undertakings |
(
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– |
Government grant income |
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Dividends paid |
(
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(
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Net cash from/(used in) financing activities |
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(
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Net increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year |
552,512 |
457,347 |
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Cash and cash equivalents at end of year |
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NOTES TO THE FINANCIAL STATEMENTS |
Goodwill |
- |
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Long leasehold property |
- |
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Short leasehold property |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
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2023 |
2022 |
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£ |
£ |
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UK |
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Europe |
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Asia |
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USA |
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-------------- |
-------------- |
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-------------- |
-------------- |
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2023 |
2022 |
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£ |
£ |
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Government grant income |
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Other operating income |
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– |
------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Gains on disposal of tangible assets |
– |
(
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Impairment of trade debtors |
8,407 |
– |
Foreign exchange differences |
(
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(
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------------ |
------------ |
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2023 |
2022 |
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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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2023 |
2022 |
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No. |
No. |
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Production staff |
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– |
Distribution staff |
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Administrative staff |
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Management staff |
4 |
4 |
------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
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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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2023 |
2022 |
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£ |
£ |
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Remuneration |
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Company contributions to defined contribution pension plans |
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2023 |
2022 |
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No. |
No. |
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Defined contribution plans |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Other interest receivable and similar income |
– |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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Dividends paid on shares classed as debt |
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Interest payable on loan notes |
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Other interest payable and similar charges |
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------------ |
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2023 |
2022 |
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£ |
£ |
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UK current tax income |
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Adjustments in respect of prior periods |
– |
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------------ |
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Total UK current tax |
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Foreign current tax income |
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– |
------------ |
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Total current tax |
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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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2023 |
2022 |
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£ |
£ |
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Profit on ordinary activities before taxation |
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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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Effect of expenses not deductible for tax purposes |
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Effect of capital allowances and depreciation |
(
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(
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Effect of revenue exempt from tax |
(
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(
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Effect of changes in tax rates and roundings |
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(
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Overseas tax at different rates |
(
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– |
Deferred tax not recognised |
(
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– |
------------ |
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Tax on profit |
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------------ |
------------ |
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2023 |
2022 |
|
£ |
£ |
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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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2023 |
2022 |
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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 ) |
– |
30,645 |
------------ |
------------ |
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Group |
Goodwill |
£ |
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Cost |
|
At 1 October 2022 |
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Additions |
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------------ |
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At 30 September 2023 |
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------------ |
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Amortisation |
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At 1 October 2022 |
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Charge for the year |
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------------ |
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At 30 September 2023 |
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------------ |
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Carrying amount |
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At 30 September 2023 |
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------------ |
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At 30 September 2022 |
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Group |
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
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Cost |
|||||
At 1 October 2022 |
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Additions |
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– |
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------------ |
------------ |
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------------ |
------------ |
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At 30 September 2023 |
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------------ |
------------ |
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------------ |
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Depreciation |
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At 1 October 2022 |
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Charge for the year |
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– |
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------------ |
------------ |
------------ |
------------ |
------------ |
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At 30 September 2023 |
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------------ |
------------ |
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Carrying amount |
|||||
At 30 September 2023 |
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– |
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------------ |
------------ |
------------ |
------------ |
------------ |
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At 30 September 2022 |
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– |
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------------ |
------------ |
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------------ |
------------ |
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Group |
Interests in associates |
£ |
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Share of net assets/cost |
|
At 1 October 2022 |
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Share of profit or loss |
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------------ |
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At 30 September 2023 |
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------------ |
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Impairment |
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At 1 October 2022 and 30 September 2023 |
– |
------------ |
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Carrying amount |
|
At 30 September 2023 |
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------------ |
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At 30 September 2022 |
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Company |
Shares in group undertakings |
£ |
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Cost |
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At 1 October 2022 |
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Additions |
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-------------- |
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At 30 September 2023 |
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Impairment |
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At 1 October 2022 and 30 September 2023 |
– |
-------------- |
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Carrying amount |
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At 30 September 2023 |
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At 30 September 2022 |
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Registered office |
Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Russell Way |
Ordinary |
100 |
Off Bradford Road |
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Brighouse |
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West Yorkshire |
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HD6 4LX |
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Zhuyuantongcun |
Ordinary |
100 |
Yangxunqiao Town |
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Keqiao District |
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Shaoxing City |
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Zhejiang Province |
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China |
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Russell Way |
Ordinary |
100 |
Off Bradford Road |
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Brighouse |
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West Yorkshire |
|||
HD6 4LX |
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Room No 803, Floor 8 Building 13 |
Ordinary |
100 |
linpimgdadao 633 |
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Linping town |
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Yuhang Hangzhou |
|||
Zhejiang |
|||
China |
|||
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35 Westgate |
Ordinary |
100 |
Huddersfield |
|||
West Yorkshire |
|||
HD1 1PA |
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Other significant holdings |
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Shaoxing Sian Flame Retardant Technology Co Limited |
Zhuyuantongcun |
Ordinary |
31 |
xangzun Qiao Town |
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Keqiao District |
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Shaoxing City |
|||
Zhejiang Province |
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China |
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Group |
Company |
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2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Raw materials and consumables |
|
– |
– |
– |
Finished goods and goods for resale |
|
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– |
– |
------------ |
------------ |
------------ |
------------ |
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– |
– |
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
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2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
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Trade debtors |
|
|
– |
– |
Prepayments and accrued income |
|
|
– |
– |
Other debtors |
|
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------------ |
------------ |
------------ |
------------ |
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------------ |
------------ |
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------------ |
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Group |
Company |
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2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
– |
– |
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Accruals and deferred income |
|
|
– |
– |
Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
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– |
– |
Director loan accounts |
|
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– |
– |
Loan notes |
|
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Invoice finance facility |
|
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Other creditors |
|
|
– |
– |
-------------- |
------------ |
------------ |
------------ |
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-------------- |
------------ |
------------ |
------------ |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accruals and deferred income |
|
|
– |
– |
Shares classed as financial liabilities |
|
|
|
|
Loan notes |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
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------------ |
------------ |
------------ |
------------ |
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Group |
Deferred tax (note 22) |
£ |
|
At 1 October 2022 |
|
Additions |
(
|
------------ |
|
At 30 September 2023 |
|
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 21) |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
Deferred income |
(
|
(
|
– |
– |
Deferred tax - other timing differences user defined - desc in a/cs |
(
|
– |
– |
– |
------------ |
------------ |
------------ |
------------ |
|
69,605 |
74,117 |
– |
– |
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Government grants recognised directly in income |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Financial liabilities measured at fair value through profit or loss |
– |
733,333 |
– |
733,333 |
------------ |
------------ |
------------ |
------------ |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
------------ |
------------ |
------------ |
------------ |
|
|
|
733,333 |
|
733,333 |
------------ |
------------ |
------------ |
------------ |
|
At 1 Oct 2022 |
Cash flows |
At 30 Sep 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
651,917 |
|
Debt due within one year |
(1,696,757) |
(334,925) |
(2,031,682) |
------------ |
------------ |
------------ |
|
(
|
|
(
|
|
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
Later than 5 years |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
|
|
– |
– |
|
------------ |
------------ |
------------ |
------------ |
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|
NOTES TO THE FINANCIAL STATEMENTS (continued) |