Director
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2 August 2024
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Director
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identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
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detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
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the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
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for and on behalf of
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Suite I, Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire
OX14 1SY
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2023 | 2022 | |||
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Notes | £ | £ | ||
TURNOVER | 3 |
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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 charges | 10 |
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PROFIT BEFORE TAXATION |
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Tax on Profit | 11 |
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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
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2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 12 |
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Investment Properties | 13 |
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CURRENT ASSETS | |||||
Stocks | 14 |
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Debtors | 15 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 16 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 17 |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 19 |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 21 |
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Income Statement |
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SHAREHOLDERS' FUNDS | 2,444,452 | 2,193,842 | |||
Director
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Share Capital | Income Statement | Total | |
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£ | £ | £ | |
As at 1 January 2022 |
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1,743,143 |
Profit for the year and total comprehensive income | - |
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510,699 |
Dividends paid | - | (60,000) | (60,000) |
As at 31 December 2022 and 1 January 2023 |
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2,193,842 |
Profit for the year and total comprehensive income | - |
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310,610 |
Dividends paid | - | (60,000) | (60,000) |
As at 31 December 2023 |
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2,444,452 |
2023 | 2022 | |||
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Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
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Interest paid |
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Tax paid |
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Net cash generated from operating activities |
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Cash flows from investing activities | ||||
Purchase of tangible assets |
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Cash flows from financing activities | ||||
Equity dividends paid |
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Proceeds from new bank borrowings |
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Repayment of bank borrowings |
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Repayment of other loans | (93,221) | (670,508) | ||
Amount introduced by directors | - | 36,438 | ||
Amount withdrawn by directors | (64,127) | - | ||
Net cash used in financing activities |
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Decrease in cash and cash equivalents |
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Cash and cash equivalents at beginning of year | 2 |
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Foreign exchange gains on cash and cash equivalents |
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Cash and cash equivalents at end of year | 2 |
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2023 | 2022 | ||
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£ | £ | ||
Profit for the financial year |
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Adjustments for: | |||
Tax on profit |
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Interest expense |
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Depreciation of tangible assets |
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Foreign exchange gains | - | (3,606) | |
Movements in working capital: | |||
Decrease/(increase) in stocks |
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Increase in trade and other debtors |
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Increase in trade and other creditors |
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Net cash generated from operations |
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2023 | 2022 | ||
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£ | £ | ||
Cash at bank and in hand |
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Overdraft facilities repayable on demand |
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Cash and cash equivalents as stated in the Statement of Cash Flows | (39,781) | 159,675 | |
As at 1 January 2023 | Cash flows | As at 31 December 2023 | |
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£ | £ | £ | |
Cash at bank and in hand |
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(90,337) |
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Overdraft facilities repayable on demand | (29,264) | (109,119) | (138,383) |
Cash and cash equivalents |
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(199,456) |
( |
Debts falling due within one year |
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(95,530) |
( |
Debts falling due after more than one year | (711,165) | 268,673 | (442,492) |
(635,299) | (26,313) | (661,612) | |
Freehold |
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Leasehold |
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Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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Computer Equipment |
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2023 | 2022 | ||
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£ | £ | ||
Facilities management | 18,079,818 | 16,503,441 | |
2023 | 2022 | ||
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£ | £ | ||
Rental income |
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10,000 | 10,000 | ||
2023 | 2022 | ||
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£ | £ | ||
Operating lease rentals |
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Exchange differences | - |
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Depreciation of tangible fixed assets |
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2023 | 2022 | ||
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£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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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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2023 | 2022 | ||
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Office and administration |
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Manufacturing |
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2023 | 2022 | ||
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£ | £ | ||
Emoluments |
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Company contributions to money purchase pension schemes |
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2023 | 2022 | ||
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Defined benefit pension schemes |
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2023 | 2022 | ||
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£ | £ | ||
Bank loans and overdrafts |
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31,101 | 17,906 | ||
The tax charge on the profit for the year was as follows:
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Tax Rate | 2023 | 2022 | |||
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2023 | 2022 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 23.5% | 19.0% |
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Deferred Tax | |||||
Deferred taxation |
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Total tax charge for the period |
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The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
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2023 | 2022 | ||||
£ | £ | ||||
Profit before tax | 413,479 | 645,183 | |||
Tax on profit at 23.5% (UK standard rate) |
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Expenses not deductible for tax purposes |
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Short term timing differences |
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Total tax charge for the period | 102,869 | 134,484 | |||
Land & Property | |||||
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Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
£ | £ | £ | £ | £ | |
Cost | |||||
As at 1 January 2023 |
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Additions |
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As at 31 December 2023 |
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Depreciation | |||||
As at 1 January 2023 |
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Provided during the period |
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As at 31 December 2023 |
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Net Book Value | |||||
As at 31 December 2023 |
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As at 1 January 2023 |
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2023 | |
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£ | |
Fair Value | |
As at 1 January 2023 and 31 December 2023 |
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2023 | 2022 | ||
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£ | £ | ||
Stock |
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2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Staff loans |
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2023 | 2022 | ||
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£ | £ | ||
Trade creditors |
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Bank loans and overdrafts |
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Corporation tax |
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Other taxes and social security |
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VAT |
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Net wages | 291,121 | - | |
Other creditors |
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Accrued defined contributions payments |
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Accruals and deferred income |
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Directors' loan accounts |
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2023 | 2022 | ||
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£ | £ | ||
Bank loans |
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Other loans | - |
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2023 | 2022 | ||
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£ | £ | ||
Amounts falling due within one year or on demand: | |||
Bank loans |
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2023 | 2022 | ||
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£ | £ | ||
Amounts falling due between one and five years: | |||
Bank loans |
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Other loans | - |
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2023 | 2022 | ||
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£ | £ | ||
Other timing differences | 59,426 | 71,865 | |
Deferred Tax | Total | |
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£ | £ | |
As at 1 January 2023 |
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71,865 |
Utilised |
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(12,439) |
Balance at 31 December 2023 |
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59,426 |
2023 | 2022 | ||
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£ | £ | ||
Not later than one year |
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Later than one year and not later than five years |
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2023 | 2022 | |
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£ | £ | |
Mr A Doman | 30,000 | 30,000 |
Mr L Cannings | 30,000 | 30,000 |
2023 | 2022 | ||
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£ | £ | ||
On equity shares: | |||
Interim dividend paid |
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60,000 | 60,000 | ||