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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Independent auditor's report to the members |
7 |
Statement of income and retained earnings |
11 |
Statement of financial position |
12 |
Notes to the financial statements |
13 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Auditor |
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Chartered Accountants & statutory auditor |
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Lyndhurst |
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1 Cranmer Street |
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Long Eaton |
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Nottingham |
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NG10 1NJ |
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Bankers |
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Strategic Report |
2023 | 2022 | ||
Gross profit as percentage of sales | 16 | 17 | |
Operating profit as a percentage of sales | 7 | 7 | |
2023 | 2022 | ||
£ | £ | ||
Profit before taxation | 2,286,339 | 2,466,373 | |
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Director |
Registered office: |
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Directors' Report |
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Director |
Registered office: |
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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 |
Lyndhurst |
1 Cranmer Street |
Long Eaton |
Nottingham |
NG10 1NJ |
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Statement of Income and Retained Earnings |
2023 |
2022 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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------------- |
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Gross profit |
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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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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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Dividends paid and payable |
13 |
(
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(
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Retained earnings at the start of the year |
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Retained earnings at the end of the year |
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Tangible assets |
14 |
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Stocks |
15 |
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Debtors |
16 |
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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 |
17 |
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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 |
18 |
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Provisions |
20 |
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Net assets |
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Called up share capital |
23 |
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Profit and loss account |
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Shareholders funds |
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Director |
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Notes to the Financial Statements |
Freehold property |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
25% - 33.33% reducing balance |
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Motor vehicles |
- |
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2023 |
2022 |
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£ |
£ |
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Sale of goods |
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------------- |
------------- |
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2023 |
2022 |
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£ |
£ |
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Management charge receivable |
41,000 |
30,000 |
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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Depreciation of tangible assets |
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(Gains)/loss on disposal of tangible assets |
(
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Impairment of trade debtors |
63,410 |
234,755 |
Foreign exchange differences |
– |
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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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Distribution staff |
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Administrative staff |
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Management staff |
3 |
3 |
---- |
---- |
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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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--------- |
--------- |
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--------- |
--------- |
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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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Interest on cash and cash equivalents |
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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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Interest on obligations under finance leases and hire purchase contracts |
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Other interest payable and similar charges |
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-------- |
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-------- |
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2023 |
2022 |
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£ |
£ |
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UK current tax expense |
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Adjustments in respect of prior periods |
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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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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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Rounding on tax charge |
(
3) |
– |
Group relief |
(62) |
(59) |
Effect of change in tax rates on deferred tax |
27,404 |
– |
------------ |
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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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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
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Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 July 2022 |
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Additions |
– |
– |
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– |
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Disposals |
– |
– |
(
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– |
(
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------------ |
-------- |
-------- |
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------------ |
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At 30 June 2023 |
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-------- |
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Depreciation |
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At 1 July 2022 |
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Charge for the year |
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Disposals |
– |
– |
(
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– |
(
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------------ |
-------- |
-------- |
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------------ |
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At 30 June 2023 |
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------------ |
-------- |
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Carrying amount |
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At 30 June 2023 |
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------------ |
-------- |
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At 30 June 2022 |
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-------- |
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Motor vehicles |
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£ |
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At 30 June 2023 |
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--------- |
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At 30 June 2022 |
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--------- |
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2023 |
2022 |
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£ |
£ |
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Finished goods and goods for resale |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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------------ |
------------ |
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------------ |
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Amounts owed to undertakings in which the company has a participating interest |
– |
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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
9,485 |
19,773 |
Pension scheme loan |
6,000 |
– |
------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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Obligations under finance leases and hire purchase contracts |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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-------- |
--------- |
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-------- |
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Deferred tax (note 21) |
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£ |
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At 1 July 2022 |
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Charge against provision |
(
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--------- |
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At 30 June 2023 |
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--------- |
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2023 |
2022 |
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£ |
£ |
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Included in provisions (note 20) |
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--------- |
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2023 |
2022 |
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£ |
£ |
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Accelerated capital allowances |
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--------- |
--------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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37,500 |
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37,500 |
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12,500 |
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12,500 |
-------- |
-------- |
-------- |
-------- |
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-------- |
-------- |
-------- |
-------- |
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2023 |
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Balance brought forward |
Amounts repaid |
Balance outstanding |
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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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2022 |
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Balance brought forward |
Amounts repaid |
Balance outstanding |
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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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(
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– |
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--------- |
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Transaction value |
Balance owed by/(owed to) |
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2023 |
2022 |
2023 |
2022 |
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£ |
£ |
£ |
£ |
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Companies in which directors have a shareholding interest |
592,854 |
558,107 |
– |
92,940 |
Pension fund |
118,000 |
93,600 |
6,000 |
46,800 |
--------- |
--------- |
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-------- |
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