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FINANCIAL STATEMENTS |
Contents |
Pages |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
3 to 4 |
Independent auditor's report to the member |
5 to 8 |
Consolidated statement of comprehensive income |
9 |
Consolidated statement of financial position |
10 |
Company statement of financial position |
11 |
Consolidated statement of changes in equity |
12 |
Company statement of changes in equity |
13 |
Consolidated statement of cash flows |
14 |
Notes to the financial statements |
15 to 26 |
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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 Certified Accountants & statutory auditor |
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Numeric House |
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98 Station Road |
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Sidcup |
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Kent |
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DA15 7BY |
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Bankers |
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65 Eltham High Street |
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London |
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SE9 1TE |
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STRATEGIC REPORT |
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Director |
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DIRECTORS' REPORT |
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Director |
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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 Certified Accountants & statutory auditor |
Numeric House |
98 Station Road |
Sidcup |
Kent |
DA15 7BY |
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME |
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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Other operating income |
5 |
– |
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------------ |
------------ |
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Operating profit |
6 |
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Other interest receivable and similar income |
10 |
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Interest payable and similar expenses |
11 |
– |
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------------ |
------------ |
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Profit before taxation |
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Tax on profit |
12 |
(
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---------- |
---------- |
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Profit for the financial period and total comprehensive income |
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---------- |
---------- |
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
2023 |
2022 |
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Note |
£ |
£ |
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Intangible assets |
14 |
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Tangible assets |
15 |
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Investments |
16 |
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---------- |
---------- |
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Debtors |
17 |
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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 |
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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Provisions |
19 |
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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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Shareholder funds |
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------------ |
------------ |
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Director |
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COMPANY STATEMENT OF FINANCIAL POSITION |
2023 |
2022 |
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Note |
£ |
£ |
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Investments |
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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------------ |
------------ |
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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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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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Shareholder funds |
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------------ |
------------ |
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Director |
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Share premium account |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 August 2021 |
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Profit for the period |
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-------- |
------------ |
---------- |
------------ |
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Total comprehensive income for the period |
– |
– |
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At 31 July 2022 |
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Profit for the period |
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-------- |
------------ |
------------ |
------------ |
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Total comprehensive income for the period |
– |
– |
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Dividends paid and payable |
13 |
– |
– |
(
|
(
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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 31 July 2023 |
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-------- |
------------ |
------------ |
------------ |
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COMPANY STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Share premium account |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 August 2021 |
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Profit for the period |
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-------- |
------------ |
---------- |
------------ |
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Total comprehensive income for the period |
– |
– |
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At 31 July 2022 |
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Profit for the period |
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-------- |
------------ |
---------- |
------------ |
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Total comprehensive income for the period |
– |
– |
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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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At 31 July 2023 |
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-------- |
------------ |
---------- |
------------ |
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CONSOLIDATED STATEMENT OF CASH FLOWS |
2023 |
2022 |
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£ |
£ |
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Profit for the financial period |
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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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Gains on disposal of tangible assets |
(
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– |
Tax on profit |
(
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Accrued expenses/(income) |
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(
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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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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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---------- |
------------ |
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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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– |
Proceeds from sale of other investments |
– |
500,000 |
---------- |
------------ |
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Net cash (used in)/from investing activities |
(
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---------- |
------------ |
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Repayments of borrowings |
– |
(
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Government grant income |
– |
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Dividends paid |
(
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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 period |
1,910,200 |
706,156 |
------------ |
------------ |
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Cash and cash equivalents at end of period |
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------------ |
------------ |
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NOTES TO THE FINANCIAL STATEMENTS |
Goodwill |
- |
10 years straight line |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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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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-------------- |
-------------- |
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2023 |
2022 |
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£ |
£ |
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Government grant income |
– |
|
---- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
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Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
|
– |
Impairment of trade debtors |
755,681 |
143,279 |
Research and development expenditure written off |
|
– |
---------- |
---------- |
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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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Other non-audit services |
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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 |
8 |
8 |
---- |
---- |
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---- |
---- |
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2023 |
2022 |
|
£ |
£ |
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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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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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---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
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Aggregate remuneration |
|
|
---------- |
---------- |
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2023 |
2022 |
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£ |
£ |
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Interest on cash and cash equivalents |
|
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Gain on fair value adjustment of financial assets at fair value through profit or loss |
(293) |
2,913 |
-------- |
------- |
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-------- |
------- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
– |
|
---- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
UK current tax income |
|
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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 profit |
(
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|
------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
|
|
---------- |
---------- |
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Profit on ordinary activities by rate of tax |
|
|
Adjustment to tax charge in respect of prior periods |
(
|
– |
Effect of expenses not deductible for tax purposes |
|
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Effect of capital allowances and depreciation |
|
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Unused tax losses |
|
|
Effect of fair value adjustment |
61 |
(553) |
Other tax adjustment to decrease tax liability |
(162,631) |
(162,408) |
Effect of chargeable gain |
8 |
– |
Effect of deferred taxation |
(6,311) |
(2,818) |
---------- |
---------- |
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Tax on profit |
(
|
|
---------- |
---------- |
|
2023 |
2022 |
|
£ |
£ |
|
Dividends paid during the period (excluding those for which a liability existed at the end of the prior period ) |
|
– |
---------- |
---- |
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Group |
Goodwill |
£ |
|
Cost |
|
At 1 August 2022 and 31 July 2023 |
|
------------ |
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Amortisation |
|
At 1 August 2022 |
|
Charge for the period |
|
------------ |
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At 31 July 2023 |
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------------ |
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Carrying amount |
|
At 31 July 2023 |
|
------------ |
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At 31 July 2022 |
|
------------ |
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Group |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 August 2022 |
|
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Additions |
|
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Disposals |
– |
– |
(
|
(
|
-------- |
-------- |
---------- |
---------- |
|
At 31 July 2023 |
|
|
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|
-------- |
-------- |
---------- |
---------- |
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Depreciation |
||||
At 1 August 2022 |
|
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|
Charge for the period |
|
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|
Disposals |
– |
– |
(
|
(
|
-------- |
-------- |
---------- |
---------- |
|
At 31 July 2023 |
|
|
|
|
-------- |
-------- |
---------- |
---------- |
|
Carrying amount |
||||
At 31 July 2023 |
|
|
|
|
-------- |
-------- |
---------- |
---------- |
|
At 31 July 2022 |
|
|
|
|
-------- |
-------- |
---------- |
---------- |
|
Group |
Other investments |
£ |
|
Cost |
|
At 1 August 2022 |
|
Revaluations |
(
|
-------- |
|
At 31 July 2023 |
|
-------- |
|
Impairment |
|
At 1 August 2022 and 31 July 2023 |
– |
-------- |
|
Carrying amount |
|
At 31 July 2023 |
|
-------- |
|
At 31 July 2022 |
|
-------- |
|
Company |
Shares in group undertakings |
Other investments |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 August 2022 |
|
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Revaluations |
– |
(
|
(
|
------------ |
-------- |
------------ |
|
At 31 July 2023 |
|
|
|
------------ |
-------- |
------------ |
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Impairment |
|||
At 1 August 2022 and 31 July 2023 |
– |
– |
– |
------------ |
-------- |
------------ |
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Carrying amount |
|||
At 31 July 2023 |
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------------ |
-------- |
------------ |
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At 31 July 2022 |
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------------ |
-------- |
------------ |
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Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
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Ordinary |
100 |
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Ordinary |
100 |
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Ordinary |
100 |
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Deferred tax asset |
|
|
– |
– |
Prepayments and accrued income |
|
|
– |
– |
Corporation tax repayable |
|
– |
– |
– |
Amounts recoverable on contracts |
4,528,921 |
5,345,964 |
– |
– |
Other debtors |
|
|
– |
– |
------------ |
-------------- |
---- |
---- |
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|
– |
– |
|
------------ |
-------------- |
---- |
---- |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Amounts recoverable on contracts |
540,283 |
860,002 |
– |
– |
---------- |
---------- |
---- |
---- |
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|
|
– |
– |
|
---------- |
---------- |
---- |
---- |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
– |
– |
|
|
Accruals and deferred income |
|
|
– |
– |
Corporation tax |
– |
|
– |
– |
Social security and other taxes |
|
|
– |
– |
Dividends payable |
|
– |
– |
– |
Other creditors |
|
|
– |
– |
------------ |
-------------- |
------------ |
------------ |
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------------ |
-------------- |
------------ |
------------ |
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Group |
Deferred tax (note 20) |
£ |
|
At 1 August 2022 |
|
Additions |
|
------- |
|
At 31 July 2023 |
|
------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Included in debtors (note 17) |
|
|
– |
– |
Included in provisions (note 19) |
(
|
(
|
– |
– |
-------- |
-------- |
---- |
---- |
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– |
– |
|
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
Unused tax losses |
(
|
(
|
– |
– |
-------- |
-------- |
---- |
---- |
|
(40,528) |
(34,217) |
– |
– |
|
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Government grants recognised directly in income |
– |
|
– |
– |
---- |
-------- |
---- |
---- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
50,000 |
|
50,000 |
-------- |
-------- |
-------- |
-------- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
50,000 |
|
50,000 |
-------- |
-------- |
-------- |
-------- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
At 1 Aug 2022 |
Cash flows |
At 31 Jul 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
28,287 |
|
------------ |
-------- |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
---------- |
---------- |
---- |
---- |
|
|
|
– |
– |
|
---------- |
---------- |
---- |
---- |
|