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For the year ending |
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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
7 |
Independent auditor's report to the members |
9 |
Consolidated statement of income and retained earnings |
14 |
Company statement of income and retained earnings |
15 |
Consolidated statement of financial position |
16 |
Company statement of financial position |
17 |
Consolidated statement of cash flows |
18 |
Notes to the financial statements |
19 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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UK |
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Auditor |
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Chartered accountants & statutory auditor |
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132 Burnt Ash Road |
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Lee |
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London |
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SE12 8PU |
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Bankers |
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Bromley Branch |
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143 High Street |
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Bromley |
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Kent |
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BR1 1YZ |
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Strategic Report |
2023 | 2022 | ||
PERFORMANCE | |||
Gross profit margin (%) | 18 | 17 | |
Operating margin (%) | 7 | 7 | |
Net profit margin (%) | 5 | 4 | |
EBITDA | 3,825,612 | 2,874,232 | |
Return on capital employed | 1 | – | |
Net asset turnover | 4 | 4 | |
2023 | 2022 | ||
LIQUIDITY | |||
Current ratio | 1 | 1 | |
Quick ratio | 1 | 1 | |
2023 | 2022 | ||
SOLVENCY | |||
Net gearing (%) | 41 | 20 | |
Gross geraing (%) | 17 | 22 | |
Asset cover ratio | 4 | 2 | |
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Director |
Director |
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Directors' Report |
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Director |
Director |
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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 |
132 Burnt Ash Road |
Lee |
London |
SE12 8PU |
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Consolidated 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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------------- |
------------- |
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Operating profit |
5 |
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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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------------- |
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Profit before taxation |
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Tax on profit |
11 |
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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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Dividends paid and payable |
12 |
(
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(
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Retained earnings at the start of the year |
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------------- |
------------- |
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Retained earnings at the end of the year |
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------------- |
------------- |
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Company Statement of Income and Retained Earnings |
2023 |
2022 |
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Note |
£ |
£ |
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
12 |
(
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(
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Retained earnings at the start of the year |
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------------- |
------------- |
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Retained earnings at the end of the year |
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------------- |
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Consolidated 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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------------- |
------------- |
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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 |
17 |
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-------------- |
------------- |
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Net current assets/(liabilities) |
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(
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-------------- |
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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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Provisions |
20 |
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Net assets |
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-------------- |
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Called up share capital |
23 |
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Share premium account |
24 |
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Profit and loss account |
24 |
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------------- |
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Shareholders funds |
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------------- |
------------- |
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Director |
Director |
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Company Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Investments |
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 |
17 |
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------------- |
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Net current liabilities |
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-------------- |
-------------- |
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Total assets less current liabilities |
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------------- |
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Net assets |
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------------- |
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Called up share capital |
23 |
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Share premium account |
24 |
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Profit and loss account |
24 |
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------------- |
------------- |
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Shareholders funds |
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------------- |
------------- |
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Director |
Director |
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Consolidated 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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Amortisation of intangible assets |
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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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Gains on disposal of tangible assets |
(
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(
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Tax on profit |
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Accrued 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 from 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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------------- |
------------- |
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Net cash used in investing activities |
(
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(
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------------- |
------------- |
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Proceeds from borrowings |
(
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(
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Payments of finance lease liabilities |
(
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(
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Dividends paid |
(
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(
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------------- |
------------- |
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Net cash used in financing activities |
(
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(
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------------- |
------------- |
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Net increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year |
3,102,193 |
2,960,623 |
------------- |
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Cash and cash equivalents at end of year |
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------------- |
------------- |
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Notes to the Financial Statements |
Goodwill |
- |
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Plant and machinery |
- |
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Fixtures, fittings and equipment |
- |
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Motor vehicles |
- |
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Integral features |
- |
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|
2023 |
2022 |
|
£ |
£ |
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Sale of goods |
|
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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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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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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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Administrative staff |
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Management staff |
18 |
16 |
Engineer staff |
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Direct administration staff |
23
|
19
|
---- |
---- |
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---- |
---- |
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2023 |
2022 |
|
£ |
£ |
|
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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------- |
------- |
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2023 |
2022 |
|
£ |
£ |
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Interest on cash and cash equivalents |
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|
--------- |
---- |
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2023 |
2022 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
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|
Other interest payable and similar charges |
|
– |
--------- |
---------- |
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--------- |
---------- |
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2023 |
2022 |
|
£ |
£ |
|
UK current tax income |
|
|
Origination and reversal of timing differences |
|
(
|
---------- |
---------- |
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Tax on profit |
|
|
---------- |
---------- |
|
2023 |
2022 |
|
£ |
£ |
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Profit on ordinary activities before taxation |
|
|
------------- |
------------- |
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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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|
Effect of deferred tax provision |
|
(
|
------------- |
------------- |
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Tax on profit |
|
|
------------- |
------------- |
|
2023 |
2022 |
|
£ |
£ |
|
Dividends on equity shares |
|
|
---------- |
---------- |
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Group |
Goodwill |
£ |
|
Cost |
|
At 1 July 2022 and 30 June 2023 |
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------------- |
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Amortisation |
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At 1 July 2022 |
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Charge for the year |
|
------------- |
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At 30 June 2023 |
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------------- |
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Carrying amount |
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At 30 June 2023 |
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------------- |
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At 30 June 2022 |
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------------- |
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Group |
Freehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Integral features |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Jul 2022 |
|
|
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|
118,633 |
|
Additions |
– |
– |
|
– |
– |
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Disposals |
– |
(
|
– |
– |
– |
(
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------------- |
---------- |
---------- |
--------- |
---------- |
------------- |
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At 30 Jun 2023 |
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118,633 |
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------------- |
---------- |
---------- |
--------- |
---------- |
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Depreciation |
||||||
At 1 Jul 2022 |
– |
|
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|
53,384 |
|
Charge for the year |
– |
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|
5,932 |
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Disposals |
– |
(
|
– |
– |
– |
(
|
------------- |
---------- |
---------- |
--------- |
---------- |
------------- |
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At 30 Jun 2023 |
– |
|
|
|
59,316 |
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------------- |
---------- |
---------- |
--------- |
---------- |
------------- |
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Carrying amount |
||||||
At 30 Jun 2023 |
|
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59,317 |
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------------- |
---------- |
---------- |
--------- |
---------- |
------------- |
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At 30 Jun 2022 |
|
|
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|
65,249 |
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------------- |
---------- |
---------- |
--------- |
---------- |
------------- |
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Group |
Freehold property |
£ |
|
At 30 June 2023 |
|
Aggregate cost |
1,423,623 |
Aggregate depreciation |
– |
------------- |
|
Carrying value |
|
------------- |
|
At 30 June 2022 |
|
Aggregate cost |
1,423,623 |
Aggregate depreciation |
– |
------------- |
|
Carrying value |
|
------------- |
|
Group |
Plant and machinery |
£ |
|
At 30 June 2023 |
– |
---- |
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At 30 June 2022 |
|
--------- |
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Company |
Other investments other than loans |
£ |
|
Cost |
|
At 1 July 2022 and 30 June 2023 |
|
-------------- |
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Impairment |
|
At 1 July 2022 and 30 June 2023 |
– |
-------------- |
|
Carrying amount |
|
At 1 July 2022 and 30 June 2023 |
|
-------------- |
|
At 30 June 2022 |
|
-------------- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Amounts owed by group undertakings |
– |
– |
– |
|
Called up share capital not paid |
|
|
– |
– |
Prepayments and accrued income |
|
|
– |
– |
Directors loan account |
|
– |
– |
– |
Other debtors |
|
|
– |
– |
------------- |
------------- |
---- |
---------- |
|
|
|
– |
|
|
------------- |
------------- |
---- |
---------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
|
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
– |
– |
|
– |
Accruals and deferred income |
|
|
– |
|
Corporation tax |
|
|
– |
– |
Social security and other taxes |
|
|
– |
– |
Obligations under finance leases and hire purchase contracts |
– |
|
– |
– |
Other creditors |
|
|
– |
– |
------------- |
------------- |
------------- |
------------- |
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|
|
|
------------- |
------------- |
------------- |
------------- |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
– |
– |
– |
Obligations under finance leases and hire purchase contracts |
– |
|
– |
– |
------------- |
--------- |
---- |
---- |
|
|
|
– |
– |
|
------------- |
--------- |
---- |
---- |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
– |
|
– |
– |
Later than 1 year and not later than 5 years |
– |
|
– |
– |
---- |
--------- |
---- |
---- |
|
– |
|
– |
– |
|
---- |
--------- |
---- |
---- |
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Group |
Deferred tax (note 21) |
£ |
|
At 1 July 2022 |
|
Charge against provision |
|
---------- |
|
At 30 June 2023 |
|
---------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 20) |
|
|
– |
– |
---------- |
---------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
Revaluation of tangible assets |
|
|
– |
– |
---------- |
---------- |
---- |
---- |
|
347,588 |
261,538 |
– |
– |
|
---------- |
---------- |
---- |
---- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
--------- |
---- |
--------- |
---- |
|
At 1 Jul 2022 |
Cash flows |
At 30 Jun 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
2,090,825 |
|
Debt due within one year |
(1,598,990) |
1,550,015 |
(48,975) |
Debt due after one year |
(15,844) |
(1,493,562) |
(1,509,406) |
------------- |
------------- |
------------- |
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------------- |
------------- |
------------- |
|
2023 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
– |
|
|
|
---- |
---------- |
---------- |
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2022 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
(
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|
– |
|
--------- |
--------- |
---- |
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