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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Director's report |
3 |
Independent auditor's report to the member |
5 |
Statement of income and retained earnings |
9 |
Statement of financial position |
10 |
Statement of cash flows |
11 |
Notes to the financial statements |
12 |
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Strategic Report |
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Director |
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Trading address: |
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Director's Report |
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Director |
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Trading address: |
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Independent Auditor's Report to the Member of
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered accountants & statutory auditor |
Carlyle House |
78 Chorley New Road |
Bolton |
Lancashire |
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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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Other operating income |
– |
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Operating profit |
5 |
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Interest payable and similar expenses |
9 |
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Profit before taxation |
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Tax on profit |
10 |
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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 |
11 |
– |
(
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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 |
12 |
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Stocks |
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 |
17 |
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– |
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Net assets |
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Called up share capital |
20 |
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Profit and loss account |
21 |
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Shareholder funds |
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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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Interest payable and similar expenses |
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Tax on profit |
58,003
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Accrued expenses |
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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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Cash generated from operations |
(
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(
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Interest paid |
(
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(
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Tax paid |
(
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(
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----------- |
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Net cash used in operating activities |
(
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(
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----------- |
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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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Proceeds from borrowings |
(
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(
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Proceeds from loans from group undertakings |
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Proceeds from loans from participating interests |
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– |
Dividends paid |
– |
(
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Net cash from financing activities |
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Net increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year |
557,594 |
426,638 |
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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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2023 |
2022 |
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£ |
£ |
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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 |
1,448,105 |
(5) |
Operating lease rentals: plant and machinery |
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Operating lease rentals: other |
186,953
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177,606
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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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Administrative staff |
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Management staff |
14 |
14 |
---- |
---- |
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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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------- |
------- |
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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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Interest on banks loans and overdrafts |
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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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Adjustments in respect of prior periods |
(
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(
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------- |
------- |
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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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– |
------- |
------- |
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Tax on profit |
58,003
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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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--------- |
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Profit on ordinary activities by rate of tax |
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Adjustment to tax charge in respect of prior periods |
(
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(
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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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--------- |
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Tax on profit |
37,547
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--------- |
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2023 |
2022 |
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£ |
£ |
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Equity dividends on ordinary shares |
– |
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---- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Equity dividends on ordinary shares |
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– |
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Plant and machinery |
Fixtures and fittings |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 August 2022 |
– |
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Additions |
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– |
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------- |
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At 31 July 2023 |
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------- |
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Depreciation |
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At 1 August 2022 |
– |
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Charge for the year |
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--------- |
------- |
--------- |
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At 31 July 2023 |
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--------- |
------- |
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Carrying amount |
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At 31 July 2023 |
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--------- |
------- |
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At 31 July 2022 |
– |
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------- |
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2023 |
2022 |
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£ |
£ |
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Raw materials and consumables |
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Work in progress |
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--------- |
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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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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 debtors |
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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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Amounts owed to undertakings in which the company has a participating interest |
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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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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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------- |
------- |
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Deferred tax (note 18) |
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£ |
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At 1 August 2022 |
– |
Additions |
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------- |
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At 31 July 2023 |
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------- |
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2023 |
2022 |
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£ |
£ |
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Included in provisions (note 17) |
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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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1,000 |
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1,000 |
------ |
------ |
------ |
------ |
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At 1 Aug 2022 |
Cash flows |
At 31 Jul 2023 |
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£ |
£ |
£ |
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Cash at bank and in hand |
|
302,514 |
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Debt due within one year |
(2,519,177) |
(2,441,500) |
(4,960,677) |
Debt due after one year |
(34,029) |
10,015 |
(24,014) |
----------- |
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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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Later than 5 years |
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Notes to the Financial Statements (continued) |