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For the year ended |
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Financial Statements |
Contents |
Pages |
Officers and professional advisers |
1 |
Directors' report |
2 to 3 |
Independent auditor's report to the member |
4 to 7 |
Statement of comprehensive income |
8 |
Statement of financial position |
9 |
Statement of changes in equity |
10 |
Statement of cash flows |
11 |
Notes to the financial statements |
12 to 15 |
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Officers and Professional Advisers |
The board of directors |
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Company secretary |
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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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Hyde House |
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The Hyde |
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Edgware Road |
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London |
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NW9 6LA |
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Directors' Report |
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Director |
Registered office: |
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England |
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Independent Auditor's Report to the Member of
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered accountants & statutory auditor |
Hyde House |
The Hyde |
Edgware Road |
London |
NW9 6LA |
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Statement of Comprehensive Income |
2022 |
2021 |
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Note |
£ |
£ |
Administrative expenses |
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(
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Other operating income |
4 |
– |
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Operating (loss)/profit |
5 |
(
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Income from shares in group undertakings |
6 |
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– |
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Profit before taxation |
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Tax on profit |
– |
– |
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Profit for the financial year |
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Foreign currency retranslation |
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(
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Ordinary share $1 - foreign currency retranslation |
23,699 |
(2,489) |
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Other comprehensive income for the year |
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(
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Total comprehensive income for the year |
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Statement of Financial Position |
2022 |
2021 |
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Note |
£ |
£ |
£ |
Investments |
8 |
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Debtors |
9 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
10 |
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Net current liabilities |
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Total assets less current liabilities |
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Net assets |
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Called up share capital |
11 |
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Other reserves, including the fair value reserve |
12 |
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Profit and loss account |
12 |
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Shareholder funds |
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Director |
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Statement of Changes in Equity |
Called up share capital |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
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Note |
£ |
£ |
£ |
£ |
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At 1 January 2021 |
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Profit for the year |
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Other comprehensive income for the year: |
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Foreign currency retranslation |
– |
– |
(
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(
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Ordinary share $1 - foreign currency retranslation |
(2,489) |
– |
– |
(2,489) |
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Total comprehensive income for the year |
(
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– |
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Dividends paid and payable |
7 |
– |
– |
(
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(
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Total investments by and distributions to owners |
– |
– |
(
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(
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At 31 December 2021 |
204,234
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Profit for the year |
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Other comprehensive income for the year: |
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Foreign currency retranslation |
– |
– |
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Ordinary share $1 - foreign currency retranslation |
23,699 |
– |
– |
23,699 |
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Total comprehensive income for the year |
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– |
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Dividends paid and payable |
7 |
– |
– |
(
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(
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---- |
---- |
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Total investments by and distributions to owners |
– |
– |
(
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(
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At 31 December 2022 |
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Statement of Cash Flows |
2022 |
2021 |
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£ |
£ |
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Profit for the financial year |
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Adjustments for: |
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Income from shares in group undertakings |
(
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– |
Unrealised foreign currency gains |
– |
(875,796) |
Accrued expenses |
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Changes in: |
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Trade and other debtors |
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Trade and other creditors |
– |
(
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Cash generated from operations |
(
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--------- |
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Net cash (used in)/from operating activities |
(
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--------- |
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Proceeds from sale of subsidiaries |
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Dividends received |
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– |
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Net cash from investing activities |
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------------- |
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Proceeds from loans from group undertakings |
(
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(
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Dividends paid |
(
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(
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------------- |
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Net cash used in financing activities |
(
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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 |
86,675 |
12,837 |
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Cash and cash equivalents at end of year |
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-------- |
-------- |
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Notes to the Financial Statements |
2022 |
2021 |
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£ |
£ |
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Commission receivable |
– |
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Management charges receivable |
– |
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---- |
------------ |
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– |
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---- |
------------ |
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2022 |
2021 |
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£ |
£ |
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Impairment of trade debtors |
– |
129,682 |
Foreign exchange differences |
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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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2022 |
2021 |
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£ |
£ |
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Income from group undertakings - dividends |
14,928,614 |
– |
------------- |
---- |
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2022 |
2021 |
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£ |
£ |
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Dividends on equity shares relating to line 1 in the shares issued page of cdb |
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2022 |
2021 |
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£ |
£ |
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Dividends on equity shares relating to line 1 in the shares issued page of cdb |
– |
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Shares in group undertakings |
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£ |
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Cost |
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At 1 January 2022 |
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Disposals |
(
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Other movements |
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------------- |
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At 31 December 2022 |
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Impairment |
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At 1 January 2022 and 31 December 2022 |
– |
------------- |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Ordinary |
98.425 |
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Ordinary |
26.016 |
Capital and reserves |
Profit/(loss) for the year |
|||
2022 |
2021 |
2022 |
2021 |
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£ |
£ |
£ |
£ |
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Subsidiary undertakings |
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33,136,375 |
88,876,342 |
(
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19,663,804 |
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113,920,638 |
102,744,955 |
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9,483,040 |
-------------- |
-------------- |
------------ |
------------- |
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2022 |
2021 |
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£ |
£ |
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Amounts owed by group undertakings |
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--------- |
--------- |
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2022 |
2021 |
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£ |
£ |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Other creditors |
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------------- |
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2022 |
2021 |
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No. |
£ |
No. |
£ |
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1 |
|
1 |
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227,932 |
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221,793 |
--------- |
--------- |
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--------- |
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221,794
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At 1 Jan 2022 |
Cash flows |
At 31 Dec 2022 |
|
£ |
£ |
£ |
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Cash at bank and in hand |
|
(31,281) |
|
Debt due within one year |
(13,490,312) |
5,279,025 |
(8,211,287) |
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------------ |
------------ |
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(
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(
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------------- |
------------ |
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