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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
3 |
Independent auditor's report to the members |
6 |
Statement of comprehensive income |
10 |
Statement of financial position |
11 |
Statement of changes in equity |
13 |
Statement of cash flows |
14 |
Notes to the financial statements |
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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Auditor |
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Chartered accountants & Statutory Auditor |
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7 Palmerston Place |
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Edinburgh |
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EH12 5AH |
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Strategic Report |
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Director |
Registered office: |
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Directors' Report |
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(Died
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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 |
7 Palmerston Place |
Edinburgh |
EH12 5AH |
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Statement of Comprehensive Income |
2022 |
2021 |
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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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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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Statement of Financial Position |
2022 |
2021 |
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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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Creditors: amounts falling due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Other creditors including taxation and social security |
17 |
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Accruals and deferred income |
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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 |
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Bank loans and overdrafts |
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Taxation including deferred tax |
19 |
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Net assets |
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Statement of Financial Position (continued) |
2022 |
2021 |
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Note |
£ |
£ |
£ |
Called up share capital |
23 |
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Profit and loss account |
24 |
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Shareholders funds |
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Director |
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Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 January 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 31 December 2021 |
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Profit for the year |
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Total comprehensive income for the year |
– |
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Issue of shares |
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– |
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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 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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Depreciation of tangible assets |
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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 |
371,362 |
327,042 |
Accrued expenses |
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Changes in: |
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Stocks |
(
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(
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Trade and other debtors |
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(
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Trade and other creditors |
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Cash generated from operations |
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(
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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/(used in) operating activities |
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(
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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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– |
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Net cash used in investing activities |
(
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(
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Proceeds from issue of ordinary shares |
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– |
Proceeds from borrowings |
(
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Dividends paid |
(
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(
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Net cash (used in)/from financing activities |
(
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Net increase/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
1,029,142 |
1,473,717 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Plant and machinery |
- |
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Fixtures and fittings |
- |
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2022 |
2021 |
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£ |
£ |
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Sale of goods |
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--------------- |
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2022 |
2021 |
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£ |
£ |
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Other operating income |
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------- |
--------- |
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2022 |
2021 |
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£ |
£ |
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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 |
27,709 |
(9,626) |
---------- |
--------- |
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2022 |
2021 |
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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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No. |
No. |
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Administrative staff |
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Management staff |
5 |
4 |
Number of sales staff |
51 |
43 |
Number of service staff |
33 |
28 |
---- |
---- |
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---- |
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2022 |
2021 |
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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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2022 |
2021 |
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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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2022 |
2021 |
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No. |
No. |
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Defined contribution plans |
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---- |
---- |
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2022 |
2021 |
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£ |
£ |
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Aggregate remuneration |
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Company contributions to defined contribution pension plans |
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---------- |
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2022 |
2021 |
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£ |
£ |
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Interest on cash and cash equivalents |
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– |
---- |
---- |
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2022 |
2021 |
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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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--------- |
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2022 |
2021 |
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£ |
£ |
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UK current tax expense |
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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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2022 |
2021 |
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£ |
£ |
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Profit on ordinary activities before taxation |
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Profit on ordinary activities by rate of tax |
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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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Tax on profit |
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------------- |
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2022 |
2021 |
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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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Plant and machinery |
Fixtures and fittings |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 January 2022 |
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Additions |
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Transfers |
(20,966) |
20,966 |
– |
---------- |
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At 31 December 2022 |
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Depreciation |
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At 1 January 2022 |
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Charge for the year |
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Transfers |
(8,814) |
8,814 |
– |
---------- |
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At 31 December 2022 |
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Carrying amount |
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At 31 December 2022 |
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---------- |
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At 31 December 2021 |
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---------- |
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2022 |
2021 |
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£ |
£ |
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Finished goods and goods for resale |
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--------------- |
--------------- |
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2022 |
2021 |
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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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2022 |
2021 |
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£ |
£ |
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Corporation tax |
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Social security and other taxes |
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Director loan accounts |
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Other creditors |
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------------- |
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Deferred tax (note 20) |
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£ |
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At 1 January 2022 |
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Additions |
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At 31 December 2022 |
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2022 |
2021 |
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£ |
£ |
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Included in provisions (note 19) |
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--------- |
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2022 |
2021 |
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£ |
£ |
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Accelerated capital allowances |
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--------- |
--------- |
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2022 |
2021 |
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No. |
£ |
No. |
£ |
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10,000 |
10,000 |
100,000 |
100,000 |
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10,000 |
10,000 |
– |
– |
--------- |
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---------- |
---------- |
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20,000 |
20,000 |
100,000 |
100,000 |
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--------- |
--------- |
---------- |
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2022 |
2021 |
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No. |
£ |
No. |
£ |
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5,000 |
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2 |
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50 |
– |
– |
------- |
------- |
---- |
---- |
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------- |
------- |
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At 1 Jan 2022 |
Cash flows |
At 31 Dec 2022 |
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£ |
£ |
£ |
|
Cash at bank and in hand |
|
1,311,342 |
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Debt due within one year |
(192,800) |
(1,702) |
(194,502) |
Debt due after one year |
(291,449) |
102,910 |
(188,539) |
------------- |
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2022 |
2021 |
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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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Later than 5 years |
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