30/06/2022
2022-06-30
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No description of principal activities is disclosed
2021-07-01
Sage Accounts Production 21.0 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
10122302
2021-07-01
2022-06-30
10122302
2022-06-30
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2021-06-30
10122302
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2021-06-30
10122302
2021-06-30
10122302
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2022-06-30
10122302
core:FurnitureFittingsToolsEquipment
2021-07-01
2022-06-30
10122302
core:MotorVehicles
2021-07-01
2022-06-30
10122302
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2021-07-01
2022-06-30
10122302
bus:OrdinaryShareClass1
2021-07-01
2022-06-30
10122302
bus:OrdinaryShareClass2
2021-07-01
2022-06-30
10122302
bus:OrdinaryShareClass3
2021-07-01
2022-06-30
10122302
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2021-07-01
2022-06-30
10122302
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2021-07-01
2022-06-30
10122302
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2021-07-01
2022-06-30
10122302
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2021-07-01
2022-06-30
10122302
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2021-07-01
2022-06-30
10122302
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2022-06-30
10122302
core:WithinOneYear
2021-06-30
10122302
core:PlantMachinery
2021-06-30
10122302
core:FurnitureFittingsToolsEquipment
2021-06-30
10122302
core:MotorVehicles
2021-06-30
10122302
core:PlantMachinery
2022-06-30
10122302
core:FurnitureFittingsToolsEquipment
2022-06-30
10122302
core:MotorVehicles
2022-06-30
10122302
core:ShareCapital
2022-06-30
10122302
core:ShareCapital
2021-06-30
10122302
core:RetainedEarningsAccumulatedLosses
2022-06-30
10122302
core:RetainedEarningsAccumulatedLosses
2021-06-30
10122302
bus:OrdinaryShareClass1
core:ShareCapital
2022-06-30
10122302
bus:OrdinaryShareClass1
core:ShareCapital
2021-06-30
10122302
bus:OrdinaryShareClass2
core:ShareCapital
2022-06-30
10122302
bus:OrdinaryShareClass2
core:ShareCapital
2021-06-30
10122302
bus:OrdinaryShareClass3
core:ShareCapital
2022-06-30
10122302
bus:OrdinaryShareClass3
core:ShareCapital
2021-06-30
10122302
bus:OrdinaryShareClass4
core:ShareCapital
2022-06-30
10122302
bus:OrdinaryShareClass4
core:ShareCapital
2021-06-30
10122302
core:PlantMachinery
2021-06-30
10122302
core:FurnitureFittingsToolsEquipment
2021-06-30
10122302
core:MotorVehicles
2021-06-30
10122302
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2022-06-30
10122302
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2022-06-30
10122302
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2022-06-30
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2022-06-30
Company registration number:
10122302
Rudd Electrical Ltd
Unaudited filleted financial statements
30 June 2022
Rudd Electrical Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Rudd Electrical Ltd
Directors and other information
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Directors |
Mr Stephen James Rudd |
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Mrs Colene Mary Rudd |
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Mr William Jack Rudd |
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Company number |
10122302 |
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Registered office |
65 Thorne Way |
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Kirton |
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Boston |
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Lincolnshire |
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PE20 1JP |
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Business address |
65 Thorne Way |
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Kirton |
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Boston |
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Lincolnshire |
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PE20 1JP |
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Accountants |
Lister & Co |
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75 High Street |
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Boston |
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Lincolnshire |
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PE21 8SX |
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Rudd Electrical Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Rudd Electrical Ltd
Year ended 30 June 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rudd Electrical Ltd for the year ended 30 June 2022 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Rudd Electrical Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Rudd Electrical Ltd and state those matters that we have agreed to state to the board of directors of Rudd Electrical Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rudd Electrical Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Rudd Electrical Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Rudd Electrical Ltd. You consider that Rudd Electrical Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Rudd Electrical Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lister & Co
ACCA
75 High Street
Boston
Lincolnshire
PE21 8SX
10 August 2022
Rudd Electrical Ltd
Statement of financial position
30 June 2022
|
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2022 |
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2021 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
5,536 |
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4,880 |
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|
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|
_______ |
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_______ |
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|
|
|
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5,536 |
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4,880 |
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Current assets |
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Stocks |
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300 |
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|
300 |
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Debtors |
|
6 |
1,064 |
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|
247 |
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Cash at bank and in hand |
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12,752 |
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26,824 |
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_______ |
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_______ |
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14,116 |
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27,371 |
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Creditors: amounts falling due |
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within one year |
|
7 |
(
2,102) |
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(
8,951) |
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_______ |
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_______ |
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Net current assets |
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12,014 |
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18,420 |
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_______ |
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_______ |
Total assets less current liabilities |
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17,550 |
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23,300 |
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Provisions for liabilities |
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(
1,052) |
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(
927) |
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_______ |
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_______ |
Net assets |
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16,498 |
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22,373 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
|
8 |
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300 |
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|
300 |
Profit and loss account |
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16,198 |
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22,073 |
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_______ |
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_______ |
Shareholders funds |
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16,498 |
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22,373 |
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_______ |
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_______ |
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For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
10 August 2022
, and are signed on behalf of the board by:
Mr Stephen James Rudd
Director
Company registration number:
10122302
Rudd Electrical Ltd
Notes to the financial statements
Year ended 30 June 2022
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 65 Thorne Way, Kirton, Boston, Lincolnshire, PE20 1JP.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis due to loans made available to the company from the directors which will continue to be available in future periods.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery |
- |
25 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
25 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
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|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2021:
3
).
5.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
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|
£ |
£ |
£ |
£ |
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Cost |
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At 1 July 2021 |
3,055 |
1,499 |
4,500 |
9,054 |
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Additions |
2,263 |
566 |
- |
2,829 |
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_______ |
_______ |
_______ |
_______ |
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At 30 June 2022 |
5,318 |
2,065 |
4,500 |
11,883 |
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_______ |
_______ |
_______ |
_______ |
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Depreciation |
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At 1 July 2021 |
1,229 |
621 |
3,077 |
4,927 |
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Charge for the year |
806 |
258 |
356 |
1,420 |
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|
|
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_______ |
_______ |
_______ |
_______ |
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At 30 June 2022 |
2,035 |
879 |
3,433 |
6,347 |
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_______ |
_______ |
_______ |
_______ |
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Carrying amount |
|
|
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At 30 June 2022 |
3,283 |
1,186 |
1,067 |
5,536 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
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At 30 June 2021 |
1,826 |
878 |
1,423 |
4,127
|
|
|
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_______ |
_______ |
_______ |
_______ |
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6.
Debtors
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Prepayments and accrued income |
|
208 |
247 |
|
Other debtors |
|
856 |
- |
|
|
|
_______ |
_______ |
|
|
|
1,064 |
247 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Accruals and deferred income |
|
1,170 |
1,172 |
|
Corporation tax |
|
- |
3,779 |
|
Social security and other taxes |
|
861 |
- |
|
Director loan accounts |
|
71 |
4,000 |
|
|
|
_______ |
_______ |
|
|
|
2,102 |
8,951 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
|
|
2022 |
|
|
|
2021 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary A shares of £
1.00 each |
|
100 |
|
100 |
|
100 |
|
100 |
|
Ordinary B shares of £
1.00 each |
|
100 |
|
100 |
|
100 |
|
100 |
|
Ordinary C shares of £
1.00 each |
|
50 |
|
50 |
|
50 |
|
50 |
|
Ordinary D shares of £
1.00 each |
|
50 |
|
50 |
|
50 |
|
50 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
300 |
|
300 |
|
300 |
|
300 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
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9.
Other financial commitments
Financial commitments not included in the balance sheet at the year end totalled £6,657.