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For the year ended |
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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 |
Statement of income and retained earnings |
13 |
Statement of financial position |
14 |
Statement of cash flows |
15 |
Notes to the financial statements |
16 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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England |
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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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143 High Street |
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Bromley |
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Kent |
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BR1 1JH |
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Strategic Report |
2023 | 2022 | ||
PERFORMANCE | |||
Gross profit margin (%) | 18 | 17 | |
Operating margin (%) | 9 | 10 | |
Net profit margin (%) | 7 | 8 | |
EBITDA | 3,827,445 | 2,920,812 | |
Return on capital employed | 2 | 5 | |
Net asset turnover | 7 | 9 | |
2023 | 2022 | ||
LIQUIDITY | |||
Current ratio | 2 | 1 | |
Quick ratio | 2 | 1 | |
2023 | 2022 | ||
SOLVENCY | |||
Net gearing (%) | 63 | 81 | |
Gross gearing (%) | 27 | 15 | |
Asset cover ratio | 5 | 8 | |
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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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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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Administrative expenses |
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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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Profit before taxation |
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Tax on profit |
11 |
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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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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 |
13 |
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Debtors |
14 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
15 |
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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 |
16 |
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Taxation including deferred tax |
18 |
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Net assets |
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Called up share capital |
21 |
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Profit and loss account |
22 |
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Shareholders funds |
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Director |
Director |
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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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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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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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Net cash from operating activities |
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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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Net cash used in investing activities |
(
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(
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Proceeds from borrowings |
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– |
Proceeds from loans from group undertakings |
(
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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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Net cash from/(used in) financing activities |
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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 |
3,102,090 |
2,960,585 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Plant & Machinery |
- |
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Fixtures & Fittings |
- |
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Motor Vehicess |
- |
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Office Equipment |
- |
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Integral Features |
- |
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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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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 |
Number of engineer staff |
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Number of direct administration staff |
23
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19
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---- |
---- |
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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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------- |
------- |
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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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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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---------- |
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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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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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(
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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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Dividends on equity shares |
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---------- |
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At 1 July 2022 |
Additions |
Disposals |
At 30 June 2023 |
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£ |
£ |
£ |
£ |
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Cost |
||||
Land and buildings |
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– |
– |
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Plant and machinery |
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– |
(
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Fixtures and fittings |
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– |
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Motor vehicles |
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– |
– |
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Equipment |
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– |
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Integral features |
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– |
– |
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------------- |
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--------- |
------------- |
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(
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At 1 July 2022 |
Charge for the year |
Disposals |
At 30 June 2023 |
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£ |
£ |
£ |
£ |
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Depreciation |
||||
Land and buildings |
– |
– |
– |
– |
Plant and machinery |
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(
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Fixtures and fittings |
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– |
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Motor vehicles |
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– |
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Equipment |
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– |
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Integral features |
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– |
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------------- |
---------- |
--------- |
---------- |
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(
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------------- |
---------- |
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---------- |
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At 30 June 2023 |
At 30 June 2022 |
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£ |
£ |
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Carrying amount |
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Land and buildings |
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Plant and machinery |
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Fixtures and fittings |
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Motor vehicles |
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Equipment |
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Integral features |
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------------- |
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Land and buildings |
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£ |
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At 30 June 2023 |
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Aggregate cost |
1,423,623 |
Aggregate depreciation |
– |
------------- |
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Carrying value |
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------------- |
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At 30 June 2022 |
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Aggregate cost |
1,423,623 |
Aggregate depreciation |
– |
------------- |
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Carrying value |
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------------- |
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Plant and machinery |
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£ |
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At 30 June 2023 |
– |
---- |
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At 30 June 2022 |
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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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– |
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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Bank loans and overdrafts |
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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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Obligations under finance leases and hire purchase contracts |
– |
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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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– |
Obligations under finance leases and hire purchase contracts |
– |
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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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---- |
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Deferred tax (note 19) |
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£ |
|
At 1 July 2022 |
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Charge against provision |
|
---------- |
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At 30 June 2023 |
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---------- |
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2023 |
2022 |
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£ |
£ |
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Included in provisions (note 18) |
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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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Revaluation of tangible assets |
|
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---------- |
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347,588 |
261,538 |
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---------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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|
1,000 |
1,000 |
1,000 |
1,000 |
------- |
------- |
------- |
------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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2 |
|
2 |
---- |
---- |
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At 1 Jul 2022 |
Cash flows |
At 30 Jun 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
2,090,857 |
|
Debt due within one year |
(467,113) |
418,138 |
(48,975) |
Debt due after one year |
(15,844) |
(1,493,562) |
(1,509,406) |
------------- |
------------- |
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------------- |
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2023 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
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£ |
£ |
£ |
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– |
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---- |
---------- |
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2022 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
– |
– |
– |
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---- |
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