Director
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07/12/2023
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Director
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for and on behalf of
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2023 | 2022 | |||
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Notes | £ | £ | ||
TURNOVER |
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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 |
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OPERATING PROFIT | 4 |
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Profit on disposal of fixed assets |
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Other interest receivable and similar income | 9 |
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Interest payable and similar charges | 10 |
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PROFIT BEFORE TAXATION |
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Tax on Profit | 11 |
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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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2023 | 2022 | |||
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£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
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OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
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2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 13 |
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CURRENT ASSETS | |||||
Stocks | 14 |
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Debtors | 15 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 16 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 17 |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 19 |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 21 |
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Other reserves |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 7,121,232 | 5,397,235 | |||
Director
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Share Capital | Other reserves | Profit and Loss Account | Total | |
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£ | £ | £ | £ | |
As at 1 April 2021 |
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( |
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4,971,577 |
Profit for the year and total comprehensive income | - | - |
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701,491 |
Dividends paid | - | - | (275,833) | (275,833) |
As at 31 March 2022 and 1 April 2022 |
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5,397,235 |
Profit for the year and total comprehensive income | - | - |
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1,931,347 |
Dividends paid | - | - | (207,350) | (207,350) |
Movements in other reserves | - | 20 | - | 20 |
As at
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7,121,232 |
2023 | 2022 | |||
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Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
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Interest paid |
( |
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Tax paid |
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Net cash generated from operating activities |
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Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
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Proceeds from disposal of tangible assets |
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Interest received |
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Net cash used in investing activities |
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Cash flows from financing activities | ||||
Equity dividends paid |
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Repayment of bank borrowings |
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Proceeds from new other loans | 169,865 | - | ||
Amount introduced by directors | 18,868 | 14,550 | ||
Net cash used in financing activities |
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Increase/(decrease) in cash and cash equivalents |
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Cash and cash equivalents at beginning of year | 2 | 475,005 | 705,023 | |
Cash and cash equivalents at end of year | 2 |
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2023 | 2022 | ||
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£ | £ | ||
Profit for the financial year |
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Adjustments for: | |||
Tax on profit |
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Interest expense |
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Interest income |
( |
( |
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Depreciation of tangible assets |
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Profit on disposal of tangible assets | (7,832) | (1,152) | |
Movements in working capital: | |||
Increase in stocks |
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Decrease/(increase) in trade and other debtors |
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(Decrease)/increase in trade and other creditors |
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Net cash generated from operations |
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2023 | 2022 | ||
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£ | £ | ||
Cash at bank and in hand |
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As at
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Cash flows | As at
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£ | £ | £ | |
Cash at bank and in hand |
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525,304 |
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Debts falling due after more than one year | (211,413) | 41,548 | (169,865) |
263,592 | 566,852 | 830,444 | |
Freehold |
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Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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Computer Equipment |
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2023 | 2022 | ||
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£ | £ | ||
Royalties and similar income |
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Rental income |
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Other operating income |
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159,413 | 114,488 | ||
2023 | 2022 | ||
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£ | £ | ||
Bad debts | 91,616 | - | |
Depreciation of tangible fixed assets |
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2023 | 2022 | ||
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£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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2023 | 2022 | ||
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£ | £ | ||
Wages and salaries |
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Other pension costs |
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2023 | 2022 | ||
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£ | £ | ||
Emoluments |
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Company contributions to defined benefit pension schemes |
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2023 | 2022 | ||
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Money purchase pension schemes |
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2023 | 2022 | ||
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£ | £ | ||
Bank interest receivable |
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3,375 | 11 | ||
2023 | 2022 | ||
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£ | £ | ||
Bank loans and overdrafts |
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Finance charges payable under finance leases and hire purchase contracts | 1,749 | 1,738 | |
Other finance charges |
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16,692 | 7,072 | ||
The tax charge on the profit for the year was as follows:
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Tax Rate | 2023 | 2022 | |||
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2023 | 2022 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 19.0% | - |
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Deferred Tax | |||||
Deferred Taxation - Changes in tax rates |
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Deferred Taxation - Origination and reversal of timing differences |
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56,167 | - | ||||
Total tax charge for the period |
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The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
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2023 | 2022 | ||||
£ | £ | ||||
Profit before tax | 2,404,340 | 866,652 | |||
Tax on profit at 19% (UK standard rate) |
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Goodwill/depreciation not allowed for tax |
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Capital allowances |
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Short term timing differences |
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Difference in tax rates |
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Total tax charge for the period | 472,993 | 165,161 | |||
Goodwill | |||
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£ | |||
Cost | |||
As at
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As at
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Amortisation | |||
As at
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As at
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Net Book Value | |||
As at
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As at
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Land & Property | |||||
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Freehold | Plant & Machinery | Motor Vehicles | Computer Equipment | Total | |
£ | £ | £ | £ | £ | |
Cost | |||||
As at
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Additions |
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Disposals |
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As at
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Depreciation | |||||
As at
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Provided during the period |
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Disposals |
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( |
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( |
As at
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Net Book Value | |||||
As at
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As at
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2023 | 2022 | ||
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£ | £ | ||
Finished goods |
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2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Other debtors |
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VAT | - |
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Net wages | 168 | - | |
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2023 | 2022 | ||
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£ | £ | ||
Trade creditors |
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Other creditors | 121,909 | 111,674 | |
Corporation tax |
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Taxation and social security | 85,714 | 7,715 | |
Accruals and deferred income |
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2023 | 2022 | ||
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£ | £ | ||
Bank loans |
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HSBC Loan - 2 Lon Parcwr |
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2023 | 2022 | ||
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£ | £ | ||
Amounts falling due between one and five years: | |||
Bank loans |
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Other loans |
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2023 | 2022 | ||
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£ | £ | ||
Other timing differences | 56,167 | - | |
Deferred Tax | Total | |
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£ | £ | |
Additions |
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56,167 |
Balance at
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56,167 |
2023 | 2022 | ||
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£ | £ | ||
On equity shares: | |||
Final dividend paid |
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207,350 | 275,833 | ||