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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 |
4 |
Independent auditor's report to the members |
6 |
Consolidated statement of income and retained earnings |
10 |
Company statement of income and retained earnings |
11 |
Consolidated statement of financial position |
12 |
Company statement of financial position |
13 |
Consolidated statement of cash flows |
14 |
Notes to the financial statements |
15 |
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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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Building 15, Gateway 1000 |
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Arlington Business Park |
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Stevenage |
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Hertfordshire |
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SG1 2FP |
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Bankers |
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37 Fleet Street |
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Temple |
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London |
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EC4Y 1BT |
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Strategic Report |
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Director |
Registered office: |
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Directors' Report |
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Director |
Registered office: |
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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 |
Building 15, Gateway 1000 |
Arlington Business Park |
Stevenage |
Hertfordshire |
SG1 2FP |
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Consolidated Statement of Income and Retained Earnings |
2023 |
2022 |
||
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 (loss)/profit |
6 |
(
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Other interest receivable and similar income |
9 |
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Interest payable and similar expenses |
10 |
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------------ |
------------ |
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(Loss)/profit before taxation |
(
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Tax on (loss)/profit |
11 |
(
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--------- |
-------- |
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(Loss)/profit for the financial year and total comprehensive income |
(
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--------- |
-------- |
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Retained losses at the start of the year |
(
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(
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--------- |
--------- |
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Retained losses at the end of the year |
(
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(
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--------- |
--------- |
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Company Statement of Income and Retained Earnings |
2023 |
2022 |
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Note |
£ |
£ |
(Loss)/profit for the financial year and total comprehensive income |
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Retained earnings at the start of the year |
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--------- |
--------- |
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Retained earnings at the end of the year |
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--------- |
--------- |
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Consolidated Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Intangible assets |
12 |
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Tangible assets |
13 |
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------------- |
------------- |
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Stocks |
15 |
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Debtors |
16 |
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Cash at bank and in hand |
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--------- |
------------ |
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Creditors: amounts falling due within one year |
17 |
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------------ |
------------ |
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Net current liabilities |
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------------- |
------------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
18 |
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Taxation including deferred tax |
20 |
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------------ |
------------ |
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Net liabilities |
(
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(
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------------ |
------------ |
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Called up share capital |
24 |
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Profit and loss account |
25 |
(
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(
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--------- |
--------- |
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Shareholders deficit |
(
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(
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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 |
£ |
£ |
Tangible assets |
13 |
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Investments |
14 |
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------------ |
------------ |
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Debtors |
16 |
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Cash at bank and in hand |
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------------ |
------------ |
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Creditors: amounts falling due within one year |
17 |
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------------ |
------------ |
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Net current liabilities |
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------------ |
------------ |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
18 |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
24 |
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Profit and loss account |
25 |
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--------- |
--------- |
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Shareholders funds |
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--------- |
--------- |
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Director |
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Consolidated Statement of Cash Flows |
2023 |
2022 |
|
£ |
£ |
|
(Loss)/profit for the financial year |
(
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Amortisation of intangible assets |
11,654 |
11,654 |
Government grant income |
– |
(14,825) |
Other interest receivable and similar income |
(
|
(
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Interest payable and similar expenses |
|
|
Loss on disposal of tangible assets |
|
– |
Loss on disposal of investment property |
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Tax on profit |
(
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Accrued expenses/(income) |
|
(
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Changes in: |
||
Stocks |
(
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(
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Trade and other debtors |
(
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(
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Trade and other creditors |
|
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--------- |
--------- |
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Cash generated from operations |
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Interest paid |
(
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(
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Interest received |
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Tax received/(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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Net cash used in investing activities |
(
|
(
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--------- |
--------- |
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Proceeds from borrowings |
– |
|
Repayments of loans from participating interests |
(
|
(
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Government grant income |
– |
|
Payments of finance lease liabilities |
(
|
|
--------- |
--------- |
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Net cash (used in)/from financing activities |
(
|
|
--------- |
--------- |
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Net (decrease)/increase in cash and cash equivalents |
(
|
|
Cash and cash equivalents at beginning of year |
1,095,903 |
1,027,848 |
------------ |
------------ |
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Cash and cash equivalents at end of year |
|
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------------ |
------------ |
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Notes to the Financial Statements |
Goodwill |
- |
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Negative Goodwill |
- |
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Freehold property |
- |
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Long leasehold |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehciles |
- |
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Equipment |
- |
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Improvements to property |
- |
2% on cost or over the life of the lease
|
|
2023 |
2022 |
|
£ |
£ |
|
Restaurants |
|
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Wedding and events |
|
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Fitness |
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------------ |
------------ |
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------------ |
------------ |
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Year to 31 Oct 21 | Period 21 Aug 19 to 31 Oct 20 | ||
£ | £ | ||
Management charges receivable | 16,609 | 9,934 | |
Government grant income | – | 14,825 | |
Other operating income | 4,606 | 6,866 | |
Rents received | 348,318 | 377,636 | |
--------- | --------- | ||
369,533 | 409,261 | ||
--------- | --------- | ||
2023 |
2022 |
|
£ |
£ |
|
Amortisation of intangible assets |
|
|
Depreciation of tangible assets |
|
|
Loss on disposal of tangible assets |
|
– |
Loss on disposal of investment property |
|
|
Hire of plant and machinery |
14,049 |
11,823 |
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
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2023 |
2022 |
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No. |
No. |
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Production staff |
|
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Distribution staff |
|
|
---- |
---- |
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|
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
|
£ |
£ |
|
Interest on cash and cash equivalents |
|
|
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
-------- |
-------- |
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|
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|
-------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
UK current tax expense |
|
|
Adjustments in respect of prior periods |
(
|
– |
-------- |
-------- |
|
Total current tax |
(
|
|
-------- |
-------- |
|
Origination and reversal of timing differences |
– |
(
|
-------- |
-------- |
|
Tax on profit |
(
|
|
-------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
(Loss)/profit on ordinary activities before taxation |
(
|
|
--------- |
-------- |
|
(Loss)/profit on ordinary activities by rate of tax |
(
|
|
Effect of expenses not deductible for tax purposes |
|
|
Effect of capital allowances and depreciation |
|
|
Utilisation of tax losses |
– |
|
Deferred tax |
– |
(23,165) |
--------- |
-------- |
|
Tax on profit |
(
|
|
--------- |
-------- |
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Group |
Goodwill |
Negative goodwill |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 November 2022 and 31 October 2023 |
|
(
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|
--------- |
--------- |
--------- |
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Amortisation |
|||
At 1 November 2022 |
|
(
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|
Charge for the year |
|
(
|
|
--------- |
--------- |
--------- |
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At 31 October 2023 |
|
(
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|
--------- |
--------- |
--------- |
|
Carrying amount |
|||
At 31 October 2023 |
|
(
|
|
--------- |
--------- |
--------- |
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At 31 October 2022 |
|
(
|
|
--------- |
--------- |
--------- |
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Group |
Land and buildings |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Improvements to property |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Nov 2022 |
|
|
|
|
1,571,162 |
|
Additions |
|
|
|
|
537,316 |
|
Disposals |
(
|
– |
(
|
(
|
(
15,438) |
(
|
------------- |
--------- |
--------- |
--------- |
------------ |
------------- |
|
At 31 Oct 2023 |
|
|
|
|
2,093,040 |
|
------------- |
--------- |
--------- |
--------- |
------------ |
------------- |
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Depreciation |
||||||
At 1 Nov 2022 |
|
|
|
|
363,163 |
|
Charge for the year |
|
|
|
|
158,235 |
|
Disposals |
(
|
– |
(
|
(
|
(
1,441) |
(
|
------------- |
--------- |
--------- |
--------- |
------------ |
------------- |
|
At 31 Oct 2023 |
|
|
|
|
519,957 |
|
------------- |
--------- |
--------- |
--------- |
------------ |
------------- |
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Carrying amount |
||||||
At 31 Oct 2023 |
|
|
|
|
1,573,083 |
|
------------- |
--------- |
--------- |
--------- |
------------ |
------------- |
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At 31 Oct 2022 |
|
|
|
|
1,207,999 |
|
------------- |
--------- |
--------- |
--------- |
------------ |
------------- |
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Company |
Freehold property |
Investment property |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 November 2022 |
|
|
|
Additions |
– |
|
|
Disposals |
– |
(
|
(
|
--------- |
------------ |
------------ |
|
At 31 October 2023 |
|
|
|
--------- |
------------ |
------------ |
|
Depreciation |
|||
At 1 November 2022 |
|
– |
|
Charge for the year |
|
– |
|
--------- |
------------ |
------------ |
|
At 31 October 2023 |
|
– |
|
--------- |
------------ |
------------ |
|
Carrying amount |
|||
At 31 October 2023 |
|
|
|
--------- |
------------ |
------------ |
|
At 31 October 2022 |
|
|
5,891,403
|
--------- |
------------ |
------------ |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 November 2022 and 31 October 2023 |
|
---- |
|
Impairment |
|
At 1 November 2022 and 31 October 2023 |
– |
---- |
|
Carrying amount |
|
At 1 November 2022 and 31 October 2023 |
|
---- |
|
At 31 October 2022 |
|
---- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Raw materials and consumables |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
|
– |
Amounts owed by group undertakings |
– |
– |
|
|
Prepayments and accrued income |
|
|
|
|
Corporation tax repayable |
– |
|
– |
|
Other debtors |
|
|
|
– |
--------- |
--------- |
------------ |
------------ |
|
|
|
|
|
|
--------- |
--------- |
------------ |
------------ |
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Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Trade creditors |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Corporation tax |
|
– |
|
– |
Social security and other taxes |
|
|
– |
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
Director loan accounts |
|
|
|
|
Other creditors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
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|
|
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|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accruals and deferred income |
|
|
– |
– |
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
Director loan accounts |
|
|
|
|
Other creditors |
– |
|
– |
– |
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
|
|
– |
– |
|
-------- |
-------- |
---- |
---- |
|
Group |
Deferred tax (note 21) |
£ |
|
At 1 November 2022 and 31 October 2023 |
|
-------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 20) |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
– |
– |
-------- |
-------- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Government grants recognised directly in income |
– |
|
– |
– |
---- |
-------- |
---- |
---- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
200 |
|
200 |
---- |
---- |
---- |
---- |
|
At 1 Nov 2022 |
Cash flows |
At 31 Oct 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(812,798) |
|
Debt due within one year |
(4,738,305) |
724,474 |
(4,013,831) |
Debt due after one year |
(7,062,673) |
11,448 |
(7,051,225) |
------------- |
--------- |
------------- |
|
(
|
(
|
(
|
|
------------- |
--------- |
------------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
Later than 5 years |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
|
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
|
|
Notes to the Financial Statements (continued) |