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FINANCIAL STATEMENTS |
Contents |
Pages |
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OFFICERS AND PROFESSIONAL ADVISERS |
The board of directors |
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Registered office |
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Auditor |
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Chartered Accountants & statutory auditor |
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35 Westgate |
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Huddersfield |
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HD1 1PA |
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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 MEMBERS OF
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered Accountants & statutory auditor |
35 Westgate |
Huddersfield |
HD1 1PA |
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME |
2022 |
2021 |
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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 |
5 |
– |
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Operating profit |
6 |
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Provisions made against loans due from connected companies |
(
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(
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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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Profit/(loss) before taxation |
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(
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Tax on profit/(loss) |
12 |
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Profit/(loss) for the financial year |
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(
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------------ |
------------ |
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Tax related to other comprehensive income |
– |
(114,300) |
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Total comprehensive income for the year |
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(
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
2022 |
2021 |
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Note |
£ |
£ |
Intangible assets |
13 |
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Tangible assets |
14 |
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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 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 |
19 |
(
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(
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Provisions |
20 |
(
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(
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------------ |
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Net liabilities |
(
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(
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Called up share capital |
25 |
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Revaluation reserve |
26 |
(
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(
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Profit and loss account |
26 |
(
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(
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Shareholders deficit |
(
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(
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Director |
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BALANCE SHEET |
2022 |
2021 |
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Note |
£ |
£ |
Investments |
15 |
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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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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
19 |
(
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(
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Net assets |
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Called up share capital |
25 |
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Profit and loss account |
26 |
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Shareholders funds |
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Director |
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Revaluation reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 January 2021 |
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(
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(
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(
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Loss for the year |
(
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(
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Other comprehensive income for the year: |
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Tax related to other comprehensive income |
– |
(114,300)
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– |
(114,300)
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Total comprehensive income for the year |
– |
(
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(
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(
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At 31 December 2021 |
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(
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(
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(
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Profit for the year |
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Other comprehensive income for the year: |
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Transfer of depreciation |
– |
(240,895)
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240,895
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– |
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Total comprehensive income for the year |
– |
(
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At 31 December 2022 |
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(
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(
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(
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STATEMENT OF CHANGES IN SHAREHOLDERS FUNDS |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 January 2021 |
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Profit for the year |
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Total comprehensive income for the year |
– |
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At 31 December 2021 |
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Profit for the year |
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Total comprehensive income for the year |
– |
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At 31 December 2022 |
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CONSOLIDATED STATEMENT OF CASH FLOWS |
2022 |
2021 |
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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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Amortisation of intangible assets |
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Government grant income |
– |
(
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Provisions made against loans due from connected companies |
596,128 |
388,157 |
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 |
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Changes in: |
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Stocks |
(
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Trade and other debtors |
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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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Net cash used in investing activities |
(
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(
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Repayments of borrowings |
(
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(
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Government grant income |
– |
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Net cash 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 |
150,950 |
(199,039) |
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Cash and cash equivalents at end of year |
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NOTES TO THE FINANCIAL STATEMENTS |
Goodwill |
- |
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Long leasehold property |
- |
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Plant and machinery |
- |
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2022 |
2021 |
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£ |
£ |
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Rendering of services |
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2022 |
2021 |
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£ |
£ |
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Management charges receivable |
– |
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Government grant income |
– |
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Other operating income |
– |
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– |
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2022 |
2021 |
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£ |
£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Impairment of trade debtors |
– |
37,448 |
------------ |
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2022 |
2021 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
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2022 |
2021 |
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No. |
No. |
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Total staff |
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------------ |
------------ |
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2022 |
2021 |
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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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2022 |
2021 |
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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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2022 |
2021 |
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No. |
No. |
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Defined contribution plans |
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------------ |
------------ |
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2022 |
2021 |
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£ |
£ |
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Interest on bank deposits |
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Other interest receivable and similar income |
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------------ |
------------ |
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2022 |
2021 |
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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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2022 |
2021 |
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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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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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------------ |
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Tax on profit |
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------------ |
------------ |
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2022 |
2021 |
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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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Adjustment to tax charge in respect of prior periods |
(13,054) |
– |
Effect of expenses not deductible for tax purposes |
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Effect of capital allowances and depreciation |
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Effect of revenue exempt from tax |
– |
(
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Effect of different UK tax rates on some earnings |
(30) |
3,393 |
------------ |
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Tax on profit |
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------------ |
------------ |
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Group |
Goodwill |
£ |
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Cost |
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At 1 January 2022 and 31 December 2022 |
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------------ |
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Amortisation |
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At 1 January 2022 |
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Charge for the year |
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------------ |
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At 31 December 2022 |
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------------ |
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Carrying amount |
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At 31 December 2022 |
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------------ |
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At 31 December 2021 |
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Group |
Long leasehold property |
Plant and machinery |
Total |
£ |
£ |
£ |
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Cost |
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At 1 January 2022 |
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Additions |
– |
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------------ |
------------ |
------------ |
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At 31 December 2022 |
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Depreciation |
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At 1 January 2022 |
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Charge for the year |
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------------ |
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At 31 December 2022 |
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------------ |
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Carrying amount |
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At 31 December 2022 |
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------------ |
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At 31 December 2021 |
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Group |
Long leasehold property |
£ |
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At 31 December 2022 |
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Aggregate cost |
2,827,907 |
Aggregate depreciation |
(920,716) |
------------ |
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Carrying value |
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------------ |
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At 31 December 2021 |
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Aggregate cost |
2,827,907 |
Aggregate depreciation |
(864,158) |
------------ |
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Carrying value |
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------------ |
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Company |
Shares in group undertakings |
£ |
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Cost |
|
At 1 January 2022 and 31 December 2022 |
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------------ |
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Impairment |
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At 1 January 2022 and 31 December 2022 |
– |
------------ |
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Carrying amount |
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At 1 January 2022 and 31 December 2022 |
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------------ |
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At 31 December 2021 |
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------------ |
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Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Ordinary |
100 |
Group |
Company |
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2022 |
2021 |
2022 |
2021 |
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£ |
£ |
£ |
£ |
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Finished goods and goods for resale |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
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Group |
Company |
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2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
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– |
– |
Amounts owed by group undertakings |
– |
– |
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Prepayments and accrued income |
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Corporation tax repayable |
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|
– |
– |
Directors loan accounts |
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– |
– |
Other debtors |
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------------ |
------------ |
------------ |
------------ |
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------------ |
------------ |
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------------ |
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Group |
Company |
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2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
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Amounts owed by group undertakings |
– |
– |
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
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2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
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Debenture loans |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to associated 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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– |
– |
Other creditors |
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– |
– |
------------ |
------------ |
------------ |
------------ |
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------------ |
------------ |
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Group |
Company |
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2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
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Debenture loans |
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Bank loans and overdrafts |
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------------ |
------------ |
------------ |
------------ |
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------------ |
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Group |
Deferred tax (note 21) |
£ |
|
At 1 January 2022 |
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Charge against provision |
(
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------------ |
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At 31 December 2022 |
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------------ |
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Group |
Company |
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2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 20) |
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– |
– |
------------ |
------------ |
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------------ |
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Group |
Company |
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2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
Revaluation of tangible assets |
|
|
– |
– |
Pension plan obligations |
(
|
– |
– |
– |
------------ |
------------ |
------------ |
------------ |
|
465,635 |
466,022 |
– |
– |
|
------------ |
------------ |
------------ |
------------ |
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Group |
Company |
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2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
|
Government grants recognised directly in income |
– |
|
– |
|
------------ |
------------ |
------------ |
------------ |
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2022 |
2021 |
|||
No. |
£ |
No. |
£ |
|
|
|
600,004 |
|
600,004 |
------------ |
------------ |
------------ |
------------ |
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At 1 Jan 2022 |
Cash flows |
At 31 Dec 2022 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
105,404 |
|
Debt due within one year |
(503,326) |
2,382 |
(500,944) |
Debt due after one year |
(5,777,233) |
629,186 |
(5,148,047) |
------------ |
------------ |
------------ |
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(
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(
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------------ |
------------ |
------------ |
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Group |
Company |
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2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
Later than 5 years |
|
– |
– |
– |
------------ |
------------ |
------------ |
------------ |
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– |
– |
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------------ |
------------ |
------------ |
------------ |
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NOTES TO THE FINANCIAL STATEMENTS (continued) |
2022 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
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(
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– |
|
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------------ |
------------ |
------------ |
------------ |
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(
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------------ |
------------ |
------------ |
------------ |
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2021 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
|
|
– |
|
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– |
|
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------------ |
------------ |
------------ |
------------ |
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– |
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------------ |
------------ |
------------ |
------------ |
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