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Financial Statements |
Contents |
Pages |
Officers and professional advisers |
1 |
Strategic report |
2 to 3 |
Directors' report |
4 to 6 |
Independent auditor's report to the members |
7 to 10 |
Statement of income and retained earnings |
11 |
Statement of financial position |
12 to 13 |
Statement of cash flows |
14 |
Notes to the financial statements |
15 to 25 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Auditor |
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Chartered Accountants & statutory auditor |
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2 Westbrook Court |
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Sharrow Vale Road |
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Sheffield |
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S11 8YZ |
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Strategic Report |
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Director |
Registered office: |
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Directors' Report |
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(Resigned
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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 |
2 Westbrook Court |
Sharrow Vale Road |
Sheffield |
S11 8YZ |
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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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Gross profit |
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Selling and distribution costs |
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Administrative expenses |
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Other operating income |
5 |
– |
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Operating loss |
6 |
(
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(
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Other interest receivable and similar income |
9 |
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Interest payable and similar expenses |
10 |
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Loss before taxation |
(
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(
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Tax on loss |
11 |
(
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(
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Loss for the financial year and total comprehensive income |
(
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(
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Dividends paid and payable |
12 |
– |
(
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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 |
£ |
£ |
Intangible assets |
13 |
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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 |
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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Provisions |
21 |
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Net assets |
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Statement of Financial Position (continued) |
2023 |
2022 |
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Note |
£ |
£ |
Called up share capital |
25 |
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Profit and loss account |
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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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Note |
£ |
£ |
Loss for the financial year |
(
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(
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Adjustments for: |
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Depreciation of tangible assets |
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Amortisation of intangible assets |
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Government grant income |
– |
(
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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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Tax on loss |
(
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(
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Accrued income |
(
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(
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Changes in: |
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Stocks |
(
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Trade and other debtors |
(
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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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Net cash (used in)/from operating activities |
(
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Purchase 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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New capital introduced by directors |
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– |
Government grant income |
– |
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Payment of hire purchase liabilities |
(
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(
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Dividends paid |
– |
(
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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 (decrease)/increase in cash and cash equivalents |
(
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Cash and cash equivalents at beginning of year |
(134,900) |
(320,082) |
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Cash and cash equivalents at end of year |
17 |
(
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(
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Notes to the Financial Statements |
Goodwill |
- |
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Other intangible assets |
- |
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Property improvements |
- |
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Furniture and fixtures |
- |
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Motor vehicles |
- |
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Office 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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---- |
-------- |
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2023 |
2022 |
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£ |
£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Operating lease rentals |
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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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---- |
---- |
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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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Company contributions to defined contribution pension plans |
– |
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--------- |
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2023 |
2022 |
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No. |
No. |
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Defined contribution plans |
– |
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---- |
---- |
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2023 |
2022 |
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£ |
£ |
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Aggregate remuneration |
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-------- |
-------- |
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2023 |
2022 |
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£ |
£ |
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Interest on bank deposits |
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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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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 income |
(
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(
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Adjustments in respect of prior periods |
– |
(
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Total current tax |
(
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(
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Origination and reversal of timing differences |
(
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Tax on loss |
(
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(
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2023 |
2022 |
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£ |
£ |
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Loss on ordinary activities before taxation |
(
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(
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------------ |
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Loss on ordinary activities by rate of tax |
(
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(
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Adjustment to tax charge in respect of prior periods |
– |
(
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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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R&D Tax Claim |
(
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(
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Tax losses carried forward |
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– |
------------ |
--------- |
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Tax on loss |
(
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(
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2023 |
2022 |
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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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---- |
--------- |
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Goodwill |
Other intangible assets |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 April 2022 and 31 March 2023 |
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Amortisation |
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At 1 April 2022 |
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Charge for the year |
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– |
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------- |
-------- |
-------- |
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At 31 March 2023 |
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------- |
-------- |
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Carrying amount |
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At 31 March 2023 |
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– |
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------- |
-------- |
-------- |
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At 31 March 2022 |
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– |
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Property improvements |
Furniture and fixtures |
Motor vehicles |
Office equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 April 2022 |
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Additions |
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– |
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--------- |
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At 31 March 2023 |
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Depreciation |
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At 1 April 2022 |
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Charge for the year |
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--------- |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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2023 |
2022 |
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£ |
£ |
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Work in progress |
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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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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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Cash at bank and in hand |
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Bank overdrafts |
(
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(
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--------- |
--------- |
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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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Social security and other taxes |
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Obligations under finance leases and hire purchase contracts |
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Director loan accounts |
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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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Deferred tax (note 22) |
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£ |
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At 1 April 2022 |
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Additions |
(
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--------- |
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At 31 March 2023 |
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--------- |
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2023 |
2022 |
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£ |
£ |
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Included in provisions (note 21) |
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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 |
|
100 |
-------- |
---- |
-------- |
---- |
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At 1 Apr 2022 |
Cash flows |
At 31 Mar 2023 |
|
£ |
£ |
£ |
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Cash at bank and in hand |
|
77,676 |
|
Bank overdrafts |
(168,139) |
(688,686) |
(856,825) |
Debt due within one year |
(85,156) |
(201,445) |
(286,601) |
Debt due after one year |
(132,853) |
23,970 |
(108,883) |
--------- |
--------- |
------------ |
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(
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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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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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