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FOR THE YEAR ENDED |
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FINANCIAL STATEMENTS |
Contents |
Page |
Strategic report |
1 |
Directors' report |
2 |
Independent auditor's report to the members |
4 |
Profit and loss account |
7 |
Balance sheet |
8 |
Statement of changes in equity |
9 |
Statement of cash flows |
10 |
Notes to the financial statements |
11 |
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STRATEGIC REPORT |
2023 | 2022 | |||
£ | £ | |||
Turnover | 24,995,398 | 9,968,013 | ||
Gross profit margin | 25.8% | 4.4% | ||
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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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(
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------------ |
----------- |
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Gross profit |
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Administrative expenses |
(
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(
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----------- |
-------- |
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Operating profit/(loss) |
5 |
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(
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Income from participating interests |
8 |
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– |
Other interest receivable and similar income |
9 |
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Amounts written off investments |
10 |
– |
(
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Interest payable and similar expenses |
11 |
(
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(
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-------- |
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Profit/(loss) before taxation |
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(
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Tax on profit/(loss) |
12 |
(
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– |
----------- |
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Profit/(loss) for the financial year and total comprehensive income |
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(
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-------- |
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BALANCE SHEET |
2023 |
2022 |
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Note |
£ |
£ |
£ |
£ |
Tangible assets |
14 |
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– |
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Investments |
15 |
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Stocks |
16 |
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Debtors |
17 |
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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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(
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Net current assets |
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----------- |
-------- |
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Total assets less current liabilities |
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Taxation including deferred tax |
19 |
(
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– |
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-------- |
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Net assets |
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-------- |
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Called up share capital |
22 |
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Profit and loss account |
23 |
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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 May 2021 |
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Loss for the year |
(
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(
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---- |
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Total comprehensive income for the year |
– |
(
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(
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At 30 April 2022 |
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Profit for the year |
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---- |
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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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---- |
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Total investments by and distributions to owners |
– |
(
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(
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---- |
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At 30 April 2023 |
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STATEMENT OF CASH FLOWS |
2023 |
2022 |
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£ |
£ |
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Profit/(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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– |
Amounts written off investments |
– |
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Income from participating interests |
(
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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 profit/(loss) |
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– |
Changes in: |
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Stocks |
(
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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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(
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Net cash from/(used in) operating activities |
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(
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----------- |
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Purchase of tangible assets |
(
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– |
Acquisition of subsidiaries |
– |
(
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Proceeds from sale of subsidiaries |
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Dividends received |
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– |
Interest received |
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Net cash (used in)/from investing activities |
(
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Loans (to)/from group undertakings |
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Loans (to)/from participating interests |
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(
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Interest paid |
(
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(
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Dividends paid |
(
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– |
Loans (to)/from other related entities |
1,984,352 |
(1,783,816) |
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Net cash 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 |
749,534 |
1,416,984 |
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Cash and cash equivalents at end of year |
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NOTES TO THE FINANCIAL STATEMENTS |
Freehold property |
- |
10% Straight line basis
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Motor vehicles |
- |
25% Straight line basis
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2023 |
2022 |
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£ |
£ |
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Rendering of services |
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Construction contracts |
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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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– |
Impairment of trade debtors |
– |
(55,975) |
Foreign exchange differences |
(
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-------- |
------- |
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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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Production staff |
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Management staff |
2 |
2 |
---- |
---- |
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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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Dividends from participating interests |
318,279 |
– |
-------- |
---- |
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2023 |
2022 |
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£ |
£ |
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Interest on loans and receivables |
34,228 |
167,826 |
------- |
-------- |
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2023 |
2022 |
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£ |
£ |
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Impairment of other fixed asset investments |
– |
249,145 |
---- |
-------- |
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2023 |
2022 |
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£ |
£ |
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Other interest payable and similar charges |
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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/(loss) |
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– |
-------- |
---- |
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2023 |
2022 |
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£ |
£ |
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Profit/(loss) on ordinary activities before taxation |
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(
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----------- |
-------- |
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Profit/(loss) on ordinary activities by rate of tax |
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(
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Effect of expenses not deductible for tax purposes |
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Effect of revenue exempt from tax |
(
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– |
Utilisation of tax losses |
(
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– |
Unused tax losses |
– |
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Unprovided deferred tax |
– |
(120) |
Investment in tax credit |
(4,600) |
– |
Adjustment to closing deferred tax to average tax rate |
7,161 |
– |
Adjustments in respect of prior periods - deferred tax |
(1,937) |
– |
----------- |
-------- |
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Tax on profit/(loss) |
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– |
----------- |
-------- |
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2023 |
2022 |
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£ |
£ |
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Dividends paid on ordinary shares |
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– |
----------- |
---- |
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Freehold property |
Motor vehicles |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 May 2022 |
– |
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Additions |
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– |
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------- |
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At 30 April 2023 |
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------- |
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Depreciation |
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At 1 May 2022 |
– |
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Charge for the year |
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– |
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----------- |
------- |
----------- |
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At 30 April 2023 |
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------- |
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Carrying amount |
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At 30 April 2023 |
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– |
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----------- |
------- |
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At 30 April 2022 |
– |
– |
– |
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------- |
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Shares in group undertakings |
Shares in joint ventures |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 May 2022 |
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Additions |
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– |
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Disposals |
(
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– |
(
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-------- |
---- |
-------- |
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At 30 April 2023 |
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-------- |
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Impairment |
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At 1 May 2022 and 30 April 2023 |
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– |
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-------- |
---- |
-------- |
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Carrying amount |
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At 30 April 2023 |
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-------- |
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-------- |
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At 30 April 2022 |
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-------- |
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-------- |
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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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Amounts owed by group undertakings |
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Amounts owed by undertakings in which the company has a participating interest |
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Prepayments and accrued income |
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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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Amounts owed to group undertakings |
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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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Amounts owed to other related entities |
6,255,985 |
4,271,633 |
Other creditors |
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------------ |
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Deferred tax (note 20) |
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£ |
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At 1 May 2022 |
– |
Additions |
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------- |
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At 30 April 2023 |
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------- |
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2023 |
2022 |
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£ |
£ |
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Included in provisions (note 19) |
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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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No. |
£ |
No. |
£ |
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100 |
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100 |
---- |
---- |
---- |
---- |
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At 1 May 2022 |
Cash flows |
At 30 Apr 2023 |
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£ |
£ |
£ |
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Cash at bank and in hand |
|
1,126,237 |
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-------- |
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2023 | 2022 | |
£ | £ | |
Sales to entities over which the entity has control | 4,365 | 2,289,671 |
Purchases from entities over which the entity has control | 571 | 53,309 |
Asset purchases from other related parties | 950,000 | – |
Amounts due from entities over which the entity has control | 1,616,783 | 1,081,443 |
Amounts due from joint ventures | – | 14,940 |
Amounts due from other related parties | 567,903 | 342,319 |
Amounts owed to entities with control over the company | 2,925,290 | 1,274,900 |
Amounts owed to other related entities | 6,255,985 | 4,271,633 |
Assets purchased from other related entities | 950,000 | – |
Amounts owed to joint ventures | 120,572 | 178,069 |
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NOTES TO THE FINANCIAL STATEMENTS (continued) |