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FOR THE YEAR ENDED |
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FINANCIAL STATEMENTS |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Profit and loss account |
8 |
Balance sheet |
9 |
Statement of cash flows |
10 |
Notes to the financial statements |
11 |
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STRATEGIC REPORT |
2023 | 2022 | |||
£ | £ | |||
Turnover | 27,712,522 | 30,700,222 | ||
Gross profit margin | 9.1% | 10.8% | ||
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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 Certified Accountants & Statutory Auditor |
2 Crossways Business Centre |
Bicester Road |
Kingswood |
Aylesbury |
Bucks |
HP18 0RA |
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PROFIT AND LOSS ACCOUNT |
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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Administrative expenses |
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Other operating income |
5 |
– |
(
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----------- |
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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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– |
----------- |
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Profit before taxation |
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Tax on profit |
12 |
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-------- |
-------- |
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Profit for the financial year and total comprehensive income |
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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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BALANCE SHEET |
2023 |
2022 |
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Note |
£ |
£ |
£ |
£ |
Tangible assets |
14 |
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Investments |
15 |
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-------- |
----------- |
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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 |
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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– |
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Taxation including deferred tax |
20 |
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Net assets |
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Called up share capital |
24 |
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Share premium account |
25 |
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Capital redemption reserve |
25 |
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Profit and loss account |
25 |
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Shareholders funds |
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Director |
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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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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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(
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Tax on profit |
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Changes in: |
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Trade and other debtors |
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(
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Trade and other creditors |
(
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(
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-------- |
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Cash generated from operations |
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(
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Tax received |
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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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Interest received |
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– |
-------- |
-------- |
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Net cash from/(used in) investing activities |
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(
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-------- |
-------- |
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Payments of finance lease liabilities |
(
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(
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Interest paid |
(
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– |
New finance leases and hire purchase contracts |
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– |
-------- |
-------- |
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Net cash from/(used in) financing activities |
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(
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-------- |
-------- |
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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 |
1,376,405 |
2,135,116 |
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Cash and cash equivalents at end of year |
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NOTES TO THE FINANCIAL STATEMENTS |
Goodwill |
- |
5% Straight Line
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Leasehold Property |
- |
2% Straight Line
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Plant & Machinery |
- |
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Fixtures and Fittings |
- |
33% Reducing Balance
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Motor Vehicles |
- |
25% Reducing Balance
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2023 |
2022 |
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£ |
£ |
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Construction contracts |
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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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---- |
------- |
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2023 |
2022 |
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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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(
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-------- |
-------- |
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2023 |
2022 |
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£ |
£ |
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Audit-related assurance services |
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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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Administrative staff |
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---- |
---- |
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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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2023 |
2022 |
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£ |
£ |
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Remuneration |
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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 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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UK current tax expense |
– |
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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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Effect of expenses not deductible for tax purposes |
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Other tax adjustment to increase/(decrease) tax liability |
– |
(2,593) |
Investment tax credit |
(6,156) |
– |
Adjustments in respect of prior periods - deferred tax |
(2,309) |
– |
Adjustment to closing deferred tax to average rate |
27,586 |
– |
-------- |
-------- |
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Tax on profit |
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-------- |
-------- |
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Goodwill |
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£ |
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Cost |
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At 1 March 2022 and 28 February 2023 |
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Amortisation |
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At 1 March 2022 and 28 February 2023 |
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Carrying amount |
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At 28 February 2023 |
– |
-------- |
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At 28 February 2022 |
– |
-------- |
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Leasehold 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 March 2022 |
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Additions |
– |
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Disposals |
– |
(
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(
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(
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(
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-------- |
----------- |
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-------- |
----------- |
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At 28 February 2023 |
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-------- |
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Depreciation |
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At 1 March 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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-------- |
----------- |
-------- |
-------- |
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At 28 February 2023 |
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-------- |
----------- |
-------- |
-------- |
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Carrying amount |
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At 28 February 2023 |
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-------- |
----------- |
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At 28 February 2022 |
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-------- |
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Unquoted investments |
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£ |
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Cost |
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At 1 March 2022 and 28 February 2023 |
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------- |
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Impairment |
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At 1 March 2022 and 28 February 2023 |
– |
------- |
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Carrying amount |
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At 28 February 2023 |
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------- |
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At 28 February 2022 |
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------- |
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2023 |
2022 |
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£ |
£ |
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Amounts owed by customers on construction contracts |
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Prepayments and accrued income |
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Corporation tax repayable |
– |
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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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Trade creditors |
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Accruals and deferred income |
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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 |
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----------- |
----------- |
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----------- |
----------- |
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2023 |
2022 |
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£ |
£ |
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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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------- |
---- |
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Deferred tax (note 21) |
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£ |
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At 1 March 2022 |
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Amounts recognised in profit and loss account |
47,573 |
-------- |
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At 28 February 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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£ |
£ |
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Government grants recognised directly in income |
– |
(
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---- |
------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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3,000 |
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3,000 |
------ |
------ |
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------ |
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At 1 Mar 2022 |
Cash flows |
At 28 Feb 2023 |
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£ |
£ |
£ |
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Cash at bank and in hand |
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304,063 |
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Debt due within one year |
– |
(11,643) |
(11,643) |
Debt due after one year |
– |
(21,582) |
(21,582) |
----------- |
-------- |
----------- |
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NOTES TO THE FINANCIAL STATEMENTS (continued) |
2023 |
2022 |
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£ |
£ |
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Not later than 1 year |
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------- |
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28 Feb 23 | 28 Feb 22 | |
£ | £ | |
Entities that provide key management personnel services | £nil | £150,000 |
Rent purchased from other related parties | £40,000 | £40,000 |
Amounts due from other related parties | £1,054,029 | £555,655 |