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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
2 |
Independent auditor's report to the members |
4 |
Statement of income and retained earnings |
8 |
Statement of financial position |
9 |
Statement of cash flows |
10 |
Notes to the financial statements |
11 |
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Strategic Report |
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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 |
Camburgh House |
27 New Dover Road |
Canterbury |
Kent |
CT1 3DN |
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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 |
18 |
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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 |
19 |
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Taxation including deferred tax |
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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------------ |
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Director |
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Statement of Cash Flows |
2023 |
2022 |
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Note |
£ |
£ |
Profit for the financial year |
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Adjustments for: |
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Depreciation of tangible assets |
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Government grant income |
(
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(
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Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
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Loss on disposal of tangible assets |
– |
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Tax on profit |
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Accrued (income)/expenses |
(
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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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Cash generated from operations |
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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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--------- |
--------- |
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Net cash used in operating activities |
(
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(
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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)/from investing activities |
(
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--------- |
--------- |
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Proceeds from borrowings |
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– |
Repayments of borrowings |
(
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(
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Government grant income |
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Dividends paid |
(
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(
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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 |
(7,919) |
342,618 |
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Cash and cash equivalents at end of year |
17 |
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(
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--------- |
--------- |
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Notes to the Financial Statements |
Land and buildings |
- |
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Plant and machinery |
- |
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Equipment |
- |
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2023 |
2022 |
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£ |
£ |
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Rendering of services |
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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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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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Loss on disposal of tangible assets |
– |
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Impairment of trade debtors |
49,725 |
– |
-------- |
--------- |
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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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Number of staff |
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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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£ |
£ |
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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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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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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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Effect of expenses not deductible for tax purposes |
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Effect of capital allowances and depreciation |
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Movement in deferred tax provision |
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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 on equity shares |
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--------- |
--------- |
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Land and buildings |
Plant and machinery |
Equipment |
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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------------ |
--------- |
--------- |
------------ |
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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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------------ |
--------- |
--------- |
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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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2023 |
2022 |
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£ |
£ |
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Raw materials and consumables |
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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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Directors loan account |
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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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Cash at bank and in hand |
|
– |
Bank overdrafts |
– |
(
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--------- |
------- |
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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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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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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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Bank loans and overdrafts |
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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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Additions |
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-------- |
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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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100 |
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100 |
---- |
---- |
---- |
---- |
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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 |
– |
319,997 |
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Bank overdrafts |
(7,919) |
7,919 |
– |
Debt due within one year |
(113,743) |
(123,753) |
(237,496) |
Debt due after one year |
(3,304,733) |
(701,903) |
(4,006,636) |
------------ |
--------- |
------------ |
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(
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(
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(
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------------ |
--------- |
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2023 | 2022 | ||
£ | £ | ||
Balance due to/(from) the company at the start of the year | 85,207 | 95,341 | |
Aggregate amounts advanced | 92,405 | 66,442 | |
Aggregate amounts repaid | (80,000) | (80,000) | |
Interest charged | 2,545 | 3,424 | |
--------- | -------- | ||
Balance due to/(from) the company at the end of the year | 100,157 | 85,207 | |
--------- | -------- | ||
2023 | 2022 | ||
£ | £ | ||
Balance due to/(from) the company at the start of the year | 1,053,434 | 1,242,468 | |
Aggregate amounts advanced | 404,295 | 242,638 | |
Aggregate amounts repaid | (120,000) | (458,921) | |
Interest charged | 25,026 | 27,249 | |
------------ | ------------ | ||
Balance due to/(from) the company at the end of the year | 1,362,755 | 1,053,434 | |
------------ | ------------ | ||
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Notes to the Financial Statements (continued) |